ADM 2341 Lecture Notes - Lecture 1: Conflict Resolution, Financial Statement, Business Process Management
10 Nov 2015
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Chapter 1 managerial accounting and the business environment. Every organization has managers who perform several major activities such as: Identify alternatives, select alternative that does the best job of furthering organizations objectives, and develop budgets to guide progress toward the selected alternative. Understand our mission, set out to achieve our plans. A process of narrowing down a wide range of possibilities into specific activities. Employee work assignments: routine problem solving, conflict resolution. Effective communications. (ensure employees know their purpose in the business, and that they know that their efforts are well appreciated: controlling, decision making: The control function ensures that plans are being followed. Feedback in the form of performance reports that compare actual results with the budget are an essential part of the control function. The most basic managerial skill is the ability to make intelligent, data driven decisions. Many of these decisions revolve around the following three questions:
