Fiscal Accountability The use of budget data for decision-making is a garbage in, garbage out scenario. If the assumptions built into the budget are poor, then the decisions made will be poor. As such, it is important that budgets are constructed with the best information and analysis available. There are different types of budgets, so the first part of the process will be to select the best type. In many organizations, static budgets are the norm, where the organization sets out a budget based on incremental changes to the previous year's budget. This technique has the benefit of being easy to implement, but it is not necessarily going to yield the most robust data. If the organization is exceptionally stable and has many years of historical data from which to draw its estimates of change, then the budget may well be accurate, but for many organizations this is a poor way to get an accurate budget, and decisions made from such a budget will also be poor. Managers use this data for many types of decisions, including strategy formulation, resource deployment, and tactical decisions. The budget might show that expected sales of a product are down, and inventories will increase. The manager...
A manager might lay off an employee if a division looks to lose money in the coming year. So there are a wide range of strategic, tactical and operational decisions that are made on the basis of budget data, which highlights why that budget needs to be as strong as possible.
With accurate data, students in need of particular help can be identified much earlier and helped more effectively. To do this, educators themselves need to assume the role of researcher. Because students and classrooms have unique characteristics, teachers working with them can best assess their needs at any given time. The root of making this approach a success, however, is effective communication not only between teachers, but also with state
Decision Making Strategies Within any organization or process, there is the cognitive and purposeful role of decision making that is the result of taking in stimuli, choosing from alternatives, and making a final choice of an action, in action, or choice of action. This is true in the small business world, multinational corporations, individual life, and even with governments. It impacts Foreign Policy, trade, economics, and most certainly the idea of
Decision Making Model Decision-Making Model An individual's life, it is often said, is nothing but a reflection of choices that were made. Thus, individuals who make well-thought out decisions are more likely to feel content and fulfilled, whereas individuals who are driven by impulse often end up taking many a wrong turn in life. The preceding observation is especially true of decisions that are made at critical junctures of a person's life
DECISIONS MGT/230 Management Theory Practice Decision-Making Process Paper Resource: Management: Leading & Collaborating a Competitive World Identify a time life make a personal professional decision buying a home, changing jobs, enrolling school, relocating state region. Decision-making process in real life: Buying a new car Buying a car is a serious decision. It is an expensive purchase -- for many people a car is the most expensive item they own, after their house. When
Downsizing Decisions Decision Making in the Face of Downsizing and Acquisitions In the period of financial instability that has defined the last decade, labor realities have been unpredictable at best and downright cruel at worst. Downsizing and Acquisitions have become two of the watchwords for employee insecurity, signaling the often shifting needs of corporations either struggling for survival or seizing growth opportunities. For those with the unenviable task of decision-making in the
Driven Decision Making in Baltimore City Government This paper looks at the methods used by the CitiStat program to collect data to be used by the government in an attempt to answer the following questions: What collection strategies or sensors are used to collect data, which ensures the integrity of the collected data as well as its relevance to Baltimore City Government? Further, the paper identifies the mechanisms employed to ensure
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now