Management is a practice that, teaches the manager personal skills and other vital life skills. It improves the general perspective of the individual manager and his abilities in decision making. During his education and working experience, the manager is able to acquire relevant skills and experience that is constantly changing making him a dynamic person. Conversely, the manager develops good interpersonal skills and is able to improve his relations to other associates. These are the skills the manager uses in ensuring investments pursued are profitable and the resources available are utilized to the maximum. (Brickley et al, 2009).
In this context, the manager leaves a town setting with the intention of establishing herself or himself in the farmlands of Illinois. It is a rare decision for anyone to make because most of the people prefer city life that is perceived to be more appealing. On the part, it provides the manager with the extra challenge of the level of application of their decision making skills and intelligence with which she or he can be able to apply their skills (Brickley et al., 2009)..
To make this kind of decision, the manager needs to follow several phases that are very necessary in managerial decision making. He must make sure he understands his present position as an entity in the targeted field of business and identify its glitches. As the first step this will facilitate in setting of goals, objectives and targets to be met. This is the easiest custom of managing any predictable hitches while carrying out any given project (Brickley et al., 2009).
Apart from that, the manager has to consider the intensity of identified glitches and their possible solutions. This may be generated through; brain storming, suggestions from employees, expert advice and even research in the field. The manager should then, select the most appropriate, available and cost effective solution to be used. A good manager will always make use of the available resources; this guarantees maximum utility is achieved from the organization investments (Dyckman, 2006).
From the accounting perspective, the manager must be able to identify the feasibility of his project. This should be in terms of the financial resources and otherwise that might be required to oversee the whole project. The manager must consider the average returns on investment. It should be based on the company policy statements concerning such projects. She or he should consider the average period within which the project will pay back on the capital invested. These procedures help the manager minimize the level of risk involved in carrying out the project (Dyckman, 2006).
As a good manager the individual should be able to ensure that his farming project has the appropriate level of assessment. Good coordination of activities in terms of the research to be carried out, technical advice from relevant agricultural personnel such as veterinary officers and specialists in crop husbandry may help to improve the expected yield (Dyckman, 2006). The manager should ensure that there is prior analysis and use of mind maps to create a better and informed decision. There should be a detailed comparison of the various solutions based on their expected outcomes to ensure that minimum errors are committed. This guarantees that good quality is observed (Dyckman, 2006).
References
Brickley, J. Smith, C.& Zimmerman, J. (2009). Managerial economics and organizational architecture. New York: McGraw Hill/Irwin.
Dyckman T. (2006). Macroeconomics for MBAs and Masters. New York: Cambridge University Press.