In any corporation, the role of information in decision making is essential. All of the effective decisions are created on the basis of timely, exact and relevant information. A business where the relevant information is not available, it causes poor planning, poor priority of needs, unacceptable decision making, and defective scheduling of programs and activities. The importance of information for proper decision making led to the development of management information system for organizations. The management information system in decision making seeks to develop something for the viable and effective use of modern information procedure in the modern management practices (Laudon and Laudon, 2009).
In the precise of science Business planning is often described as more than of an art. In organizations this becomes especially true when ones business strategies revolve around the cycle of gross annual budgeting. At this point, business analysts with common of experience in the business exert the alleged "spreadsheets from hell" that a small number of folks can be familiar with modifying them by themselves. In others in comparison with Coca Cola budgeting entail continuous revisions and edits to a large number of incoherent spreadsheets. This type of twelve-monthly budgeting cycles are costly in both time and require more folks resources, and they are generally determined by prior background, relatively to a company's strategic plans.
Ford Motors happens to be facing many challenges to settle at the top of the auto market, both in and outside america. Two of one of the most imminent risks facing the company currently are high labor costs in accordance with the company's total revenue and the concern of preserving a sustainable competitive benefits over it is primary opponents GM and Toyota.Holly Ford was the first to institute an insurance policy of $5 a day labor in 1910. This $5 was component wage and part income sharing with their hard-working personnel. This fairly high labor cost provides only increased over the decades, and Ford is still the high labor cost leader within the automobile industry. Its top opponents, GM and Toyota, have lower labor costs, although GM is usually a domestic company. The labor costs per Kia vehicle developed is increasing to $2600 while GM is currently decreasing its labor cost every vehicle.The current profit gap per vehicle between Ford..