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Pages:
2 pages/≈550 words
Sources:
4 Sources
Level:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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MS Word
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Topic:

Decision Management and Decision Control (Essay Sample)

Instructions:

Should decision management and decision control be separated? As part of your discussion, provide a real-world example (or provide a fictitious example) of a firm where the control (correctly) resides with the same individual as well as an example of a firm where the control is (correctly) separated.

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Content:

Decision Management and Decision Control
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Decision Management and Decision Control
Decision management is the implementation and initiation of decisions while decision control is monitoring and ratification of decisions. Companies that are for both non-profit and for-profit face this challenge of separating between decision control and decision management. The study of organizations dates back to 1776 where Adam Smith advocated for full control and ownership of a company. However, this is possible in sole proprietorship with no employees or few of them. The manager and owner can make informed decision on maximizing profits and make tradeoffs between the long term and short term CITATION JTa12 \l 1033 (Taylor, 2012).
In the modern world, firms are big and complex for one person, family, or stakeholders to own and run. This is possible if people sign contracts for every eventuality possible. However, it is not possible to foresee every kind of eventuality. Therefore, not al...
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