Management Tools and There Usage
Management Tools VS. the Ineperienced Manager
Using the right analysis tools does little to compensate for inexperienced management. Managers use analysis tools to make many important business decisions. They use them to make daily decisions about cost control, quality control, and staffing questions, plus they use analysis tools to help the finance and accounting departments keep track of the bottom line for investors. An inexperienced manager doesn’t know what information to take from reports, or how to best use that information for the better good of the company.
Analysis tools help the finance and accounting arms of a company more than operations managers. While operation managers may know some of the information like inventory or sales, their knowledge of the actual numbers is limited by their function. Plus, an operations manager may look out for his/her own best interest and only report good things to accounting. If the accountants don’t look at the actual analysis they will not really know what is going on within the company financially.
Analysis tools are also limited in their efficacy. Human error when inputting information is always possible. If the data entered is wrong then the results of the analysis will be wrong as well. This makes the job of inputting data important. An inexperienced manager may not know how important error free recording is and in turn use analysis that is misguided. As for the accounting side of the firm, the accounting cycle will hopefully find the mistakes in data entry in its trial balance before analysis reports are drawn.
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