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Accounting In A Nutshell: A Case Study

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Decision making is a vital component that ensures the growth and success of an organization. Particular aspects such as the economy, the needs and wants of the consumer, and the opposing competitive organizations affect the decisions that impact the direction of the business. Janet Walker, the author of Accounting in a Nutshell, discusses how companies use financial information to manage a business and make decisions (Walker, 2006, p.3). In chapter 11 of her book, she proposes a scenario about a veterinary laboratory (BSE Veterinary Services) that carried out tests on cattle to ensure they are free from infection. The laboratory currently carries out 12,000 tests each period but is expecting to increase to 18,000 tests a period due to the current …show more content…

In the organizational process model, it is imperative that decision makers weigh all aspect of their business. This decision making technique ensures every group member has equal input and encourages all participants to voice their opinion while preventing the domination of discussion of a single person. The lead facilitator of this technique would be the accounting manager since the decision will affect the financial state of the organization. It is assumed that important financial decisions concerning hiring more personnel to ensure the growth of the company would include the ideas of participant’s top managerial positions. Nominal group technique requires organizations to follow certain steps. First, participants work alone and write down their personal ideas and solutions of the particular problem that is being discussed. Secondly, participants present their ideas for general viewing in a round-robin format. Thirdly, the group engages in an open discussion to clarify ideas and solutions where they list all and remove duplicated ideas. Fourthly, after the discussion, a preliminary vote is conducted to select the most important ideas. Lastly, a group discussion takes place to discuss the voting outcomes and a final vote is conducted to determine the priority of items (Burrows, 2011,

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