Describe the importance of decision making in management
Answers
Answer:
(i) Large business enterprises, in a separate cell, the call finance department is creating the financial management to take care of, for the enterprise. The financial management of this department is titled by a specialist-finance manager says. However, the scope of the right to finance manager is very much dependent on top management policies; Finance is going to be an important management event.
(ii) At the present-day time, low-to-financial management represents a research area; In that sense, the Finance Manager is always excited about the best plans for the most efficient and profitable use of limited finance in the research and disposal of ventures in new and better sources of finance.
(iii) There are three major areas of decision-making, in financial management, such as:
(1) Investing decisions i.e. the 'risk and return' analysis on the channels in which the funds will invest, are the basis of investment options.
(2) Financing decision i.e. the source from which financial growth based on the 'cost-benefit-analysis' of various sources of finance.
(3) Dividend decisions, ie how much distribution of corporate profits will be, through dividends; And how much of these will remain in the company- "Dispute Retention vs. An intelligent solution will be required. Delivery '
Explanation: