Question

Analyze the decline of the value of the General Electric Corporation as it relates to a series of poor managerial decision-making. What should be the consequences of a failed management strategy? How can accounting policies assist in hiding poor decision-making decision-making?

Answer 1

Strategic management is the proces of defining the purpose and pursuits of an organozation and the methiods for achieving them .

Reasons why strategic plans fails are unrealistic goals and lack of focus and resources , plans are overly complex , financial estimates are significantly inaccurate, plans are based on isuffucient data, inflexible /undefined team roles and responsibilities , staffing requirements are not fully understood, project scope inflexible to changes etc.

consifdering there are so many reasons why plans fail, one might wonder why plan at all. planning help reduce and even eliminate uncertainity, im[prove efficiency of operations and find smarter way to complete project task and deliverables. well defined project p-lanning also provides a basis for monitoring and contolling work on the project which is crucial to stay top on the schedules, milestones, risks, cost and issues.

Accounting policies are important to any business to maintain consistency and to set up a standard for decision making . They arew developed for long term use reflecting firms values and ethics. policies in the area of accounting maintain standardization across the board.