Relationships the Manager's Decision-Making Prerogatives Essay

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This goes for the decision of whether or not to import as well. As one cost rises, others fall. In order to maximize profit, management must determine the course of action that sees the greater reduction in total costs, related to the greatest increase in revenues.

Variance must also be taken into account. When taking cost relationships into account, the variability of costs helps management understand the stability of cash flows.

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In instances where there is a relationship between costs, the variability must be understood on a systemic level, as a change in one cost will result in changes to costs throughout the company. Such relationships will amplify the impact of one change, adding volatility to the expected Therefore, it is critical that management understand the nature and intensity of cost relationships when making strategic decisions of….....

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