The economic impact of managerial decisions and policies.

Industrial Management | September 1, 1991| | Copyright

The Economic Impact Of Managerial Decisions And Policies

All the decisions in an organization have some economic impact either on expenses or on revenues. In general it is not easy to attach a numerical value to each decision because of the lack of a defined algorithm for doing the calculation. In this situation managerial decisions are made on an intuitive basis since there is nothin better. Although some managers support their decisions with arguments phrased in economic terms such as, "this action will save money," such arguments are not supported rigorously. ...

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