Making and making rational decisions is an essential task for the success of companies :Copy
Rational decision..... It is the decision that is made in the right way and at the right time and at the right cost
Those in charge of managing business money, whether they are managers or business owners, are very interested in the quality of decision-making due to its great importance in the administrative process, so they seek to find ways and means through which they can develop their skills in decision-making to be effective in achieving the goals of the facility.
In order to reach the right decision, the necessary tools must be available, foremost of which is the provision of information on which decision-makers will rely.
A good decision is a decision that is made based on sound data that are clear to the decision maker, and also these data and information must be available in a timely manner. In other words... The lack of information at the time of need for it would put the decision-maker at a loss as to whether to make the decision or not - because he is not confident in the validity of the decision and its impact in the future and whether other alternative decisions are available that are better than what has been taken - especially in light of an unstable economic environment with rapid changes that require the availability of tools that keep pace with these changes.
The cost of providing information has a reflection on the quality of the decision .... For example... What is the point of information that has been provided to senior management by the financial department, which worked on it with full capacity and staff for a period of thirty days ... While the senior management was in need of this information and data in order to make a decision to buy certain raw materials for production or replace and replace fixed assets that would increase production and reduce its cost - the information and data that were provided to senior management became useless due to the high prices of raw materials and assets that were targeted to be purchased during the period of work of the financial department to provide these data - despite the company incurring the cost of salaries of the employees of the financial department for a full month without any benefit.
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