Consider the Following Management Activities

question 57

Essay

Consider the following management activities:
∙ Choose the organization's long-term strategy.
∙ Plan and organize the use of resources into efficient operations.
∙ Implement plans and organizational change.
∙ Measure and report results.
∙ Define the organization's scale and scope of operations.
Required:
a. Identify the sequence in which the decisions must be carried out. Why is it important to carry out these activities sequentially?
b. How can an effective cost management system support the above activities?

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Definitions:

Management By Objectives (MBO)

Is a process of joint objective‐setting between a manager and a staff member.

External Supervisory Control

Oversight conducted by external bodies or regulators to ensure an organization meets standards or regulations.

Relationship Building

The process of establishing and maintaining positive connections with others, often characterized by trust, understanding, and cooperation.

Objective Attainment

The process or strategy employed to achieve specific goals or targets set by an individual or organization.