Abstract
In the first part of this chapter we discuss the factors to take into account when evaluating possible alternative courses of action. This will involve a consideration, inter alia, of the various costs and benefits associated with decision-making; in particular we shall be concerned to discriminate between those costs which are relevant in making any decision and those which are not. Opportunity cost, differential cost, variable cost, book value, etc., will be the ‘costs’ considered.
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R. Brearley and S. Myers, Principles of Corporate Finance, 4th edition, McGraw Hill, 1991.
Jim Dewhurst, Business Mathematics, Macmillan, 1988.
C. Drury, Management and Cost Accounting, 3rd edition, Chapman & Hall, 1992.
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© 1993 Jim Dewhurst and Paul Burns
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Dewhurst, J., Burns, P. (1993). Decision Making. In: Small Business Management. Macmillan Small Business Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23109-6_19
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DOI: https://doi.org/10.1007/978-1-349-23109-6_19
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-60654-4
Online ISBN: 978-1-349-23109-6
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