Making good decisions is critical to business success. The first step in good decision-making is to understand that not all decisions are created equal. Making good decisions is critical to business ...

Learn what irrelevant costs are in business, how they differ from relevant costs, and why knowing the distinction is crucial for effective management decisions.

Would you ever make a decision in your business without thinking about the costs? Of course not. Analyzing the costs related to any decision is at the heart of the management process. However, costs ...

Though the term "managerial judgment" appears broad in scope, it essentially refers to the process of managerial decision-making, or a manager's ability to use judgment to solve problems. As leaders ...