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Practice Reading: Fill in the Blanks (Dropdown)
ID: #45248
July Prediction
Decision Making
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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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