Decision Making

Decision making is central to the management of an enterprise. The manager of a profit-making business has to decide on the manner of implementation of the objectives of the business, at least one of which may [blank] relate to allocating resources so as to maximize profit. A non-profit-making enterprise (such as a department of central or local government) will be making decisions on resource allocation so as to be economical, efficient, and effective in its [blank] of finance. All organizations, whether in the private sector or the public sector, [blank] decisions that have financial implications. Decisions will be about resources, which may be people, products, services, or longterm and short-term investment. Decisions will also be about activities, including whether and how to undertake them. Most decisions will at some stage involve consideration of financial matters, [blank] cost.