Content area
Business decisions sometimes appear to be made without first performing a thorough analysis of the problem and ascertaining the impact of that decision on the organization. An organization should make every effort to use available data and effective analysis techniques when making business decisions.
Investigation of cost accounting, decision making, and quality analysis methods point to a weakness in the business decision-making process and more specifically with the lack of business decision-making tools that are readily available. Computer programs could be used to overcome these weaknesses and to standardize the decision-making process.
Microsoft Excel is a capable spreadsheet program that contains analysis tools that can be supplemented by using the visual basics editor. The use of a spreadsheet program along with a good decision-making process provides a consistent approach to problem solving. New tools can also be developed as they are identified or when weaknesses are discovered in the process.
Details
Studies;
Decision making;
Cost analysis;
Cost accounting;
Quality control;
Software;
Failure;
Human resource management;
Asset acquisitions;
Accounting systems;
Accounting periods;
Research & development--R&D;
Business plans;
Corporate profits;
Suppliers;
Market shares;
Industrial engineering;
Quality standards;
Marketing;
Profit margins;
Purchasing;
Product reviews;
Prevention;
Accounting;
Management accounting;
Systems development;
Overhead costs;
Copyright;
Engineering;
Cost control;
Inventory;
Value chain