Explain why control and decision making are important managerial skill.
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A: Below is the solution:-
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Explain why control and decision making are important managerial skill.
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Solved in 2 steps
- How are leadership and control different? How are planning and control different? How are structure and control different? Are controls positive, negative, or both within a business, especially since controls are often audited or reviewed for their effectiveness by internal audit or regulatory bodies (explain)?Why is decision making often described as the essence of manager's job?In 3-5 sentences answer the following 1. Why is controlling a very important management function? 2. Why is the establishment of performance objectives and standards an important step in the control process?
- Define management, list out managerial functions, explain briefly Planning as the process of setting objectives and determining what should be done to accomplish the goals of the organization.explain what the importance of control as a management function is and identify and explain the areas of control the management team need to focus on.Management involves the four basic functions. These management activities are interrelated with each other. However, management functions do not usually occur in a tidy, step-by-step fashion. Therefore, among four management functions, discuss with the help of an example that which activity maintain managerial effectiveness by serving as guides for future activities and how? Moreover, do you think this activity help managers know how to allocate their time and resources? If yes, justify your answer with the help of an example.
- Explain how planning and control are inseparable.Management is not only about overseeing day-to-day operations but also about setting a vision, providing leadership, and adapting to changing circumstances. Successful managers need to be able to communicate effectively, delegate tasks, motivate their team, and make informed decisions. They must also possess a keen understanding of their industry, competitors, and market trends to make strategic choices that keep their organization competitive. Question: How do managers balance the need for both short-term and long- term decision-making in their roles, and what challenges can arise from this balancing act?Because of this, planning, monitoring, and control are frequently seen as closed systems. Which techniques for planning, monitoring, and control do managers employ?