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Practice Reading: Fill in the Blanks (Dropdown) ID: #45248 July Prediction Decision Making
Instructions
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    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    finance.  All  organizations,  whether  in  the  private  sector  or  the  public  sector,    decisions  which  have  financial  implications.  Decisions  will  be  about  resources,  which  may  be  people,  products,  services  or  long-term  and  short-term  investment.  Decisions  will  also  be  about  activities,  including  whether  and  how  to    them.  Most  decisions  will  at  some  stage  involve  consideration  of  financial  matters,    cost.

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