ADM 3346 Chapter Notes - Chapter 1: Rank Organisation, Management Accounting, The Office: The Accountants
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Chapter 1: the accountant"s vital role in decision making. Key success factors (ksf: customers demand ever-improving performance, lower costs and greater efficiency, higher quality through tqm. Improved timeliness in developing new products and in customer response: constant innovation in products and service, be(cid:374)(cid:272)h(cid:373)arki(cid:374)g is tra(cid:272)ki(cid:374)g perfor(cid:373)a(cid:374)(cid:272)e o(cid:374) ksf"s agai(cid:374)st (cid:271)est perfor(cid:373)ers. Value-chain analysis: research and development, design of products, services, or processes, production, marketing, 5 step decision-making process: planning: the purposeful analysis of information to select and rank organization goals. Identify the problem and uncertainties/risk: obtain information, make predictions about the future, decide on one of the available alternatives.