Thus, your budget is an important tool for determining the health of your business. Make Timely Decisions Without action, forecasts and decisions about the future are not worth the paper they are written on. A decision that does not result in action is a poor one. The pace of business demands timely as well as informed decision making. If the owner-manager is to stay ahead of competition, you must move to control your destiny.
Effective decision making in the small business requires several things.
The owner-manager must have as much accurate information as possible. With these facts, you should determine the consequences of all feasible courses of action and the time requirements. When you have made the judgment, you have set up your business so that the decisions you make can be transmitted into action. Control Your Business To be effective, the owner-manager must be able to motivate key people to get the results planned for within the cost and time limits allowed. In working to achieve results, the small business owner-manager has an advantage over big business.