HOW AUTOMOBILE LEASES WORK Leasing an automobile is an alternative to purchasing that usually enables consumers to pay lower up-front costs and make affordable monthly payments. At the end of the lease period, however, the consumer does not own the vehicle. Instead, consumers opting for automobile leasing arrangements pay for […]
HOW ACTIVITY-BASED COSTING WORKS Activity-based costing (ABC) is an accounting method that allows businesses to gather data about their operating costs. Costs are assigned to specific activities – such as planning, engineering, or manufacturing – and then the activities are associated with different products or services. In this way, the […]
THE TURNAROUND PLAN FOR A TROUBLED COMPANY The Gestation Period of Crisis A crisis rarely develops overnight. The time between the initial cause of trouble and the point of intervention can run from 18 months to five years. What happens to a company during the gestation period has implications for […]
WHY BUSINESSES GET INTO TROUBLED WATERS The Cause Trouble can be caused by external forces, and not under the control of management. Among the most frequently mentioned are recession, interest rate changes, changes in government policy, inflation, the entry of new competition, and industry product obsolescence. However, those who manage […]
HOW TO MINIMIZE RISKS WHEN MAKING DECISIONS Most decisions contain a degree of uncertainty. Use your own judgment and experience to remove as much doubt as possible from a situation. Think through the consequences of your actions, be prepared to compromise, and consider timing carefully. Assessing the Consequences Making […]
HOW TO FORECAST THE FUTURE IN DECISION-MAKING Decision-making rests on predicting the future and assuming that events will unfold following an established action plan. Develop methods of improving the accuracy of your own forecast and ways of using forecasts made by others to the best effect. Selecting Methods of […]
GOVERNANCE STRATEGY FOR THE “NEXT AFRICA” …Guides for overpowering “Simulation Managerial System” in post COVID-19 Africa. This article is published by tcbassociates.com based on Content Marketing Partnership with the original author, Dr Chris Ohanemu. PREAMBLE This discussion is hardly a comment on INTERNATIONAL RELATIONS. It is […]
HOW TO GENERATE IDEAS The creation of new ideas is vital to bring fresh light to the decision-making process. When sourcing fresh ideas, strive to achieve the right balance between imagination and practicality. Your first hurdle, however, lies in generating ideas from others. Brainstorming for ideas Brainstorming meetings are held […]
HOW TO DECIDE WHOM TO INVOLVE IN A DECISION Whom to involve, and how, is your very first decision as a decision-maker. The number of people you can involve ranges from none, in which you make a decision single-handedly, to total, in which you lead a whole team searching for […]
HOW TO IDENTIFY ISSUES WHEN REACHING A DECISION Mastering the processes and methods involved in taking decisions goes a long way towards maximizing your effectiveness and efficiency as a manager. Identifying Issues It is crucial to diagnose problems correctly. Before any decision can be made, identify and define the issue […]
