AP EC 3999 Study Guide - Final Guide: Cost Basis, Marketing Strategy, Accrual

• School: Clemson University
• Department: Applied Economics
• Course: AP EC 3999
• Professor: Willis

Document Summary

Apec (cid:1007)0(cid:1006) fi(cid:374)al e(cid:454)a(cid:373) stud(cid:455) guide: lecture 2: management and decision making- how should i make decisions, functions of management. Planning: establish your goals, identify resources, setup a benchmark. Implementation (organizing and directing: acquire resources, coordinate, supervise. Controlling: evaluate the results: monitor your results, compare to the benchmark, this function ensures that the plan is followed and producing the desired results. Controlling: adjustment: if our goals are not met, what improvements can we do, plan vs. general manager. Collect data and information: analyze the alternatives. Implement the decision: monitor and evaluate the results, accept responsibility, two decision types. Strategic (organizational) management: charting the overall long-term course of the business. Tactical management: taking short-run actions that keep moving until the, lecture 3: asset valuation (chapter 12) desired result is reached, why we need financial statements, assess financial condition, data for business analysis, new investments.