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Importance of controllable / uncontrollable financial events

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As a manager, explain the importance of understanding the controllable and uncontrollable financial affects on a business environment. What can you do to limit these financial constraints?

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Solution Summary

Discussion is 193 words in everyday language suitable for novice to intermediate. The response includes two ideas to minimize issues surrounding uncontrollable events.

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If a manager doesn't under what he/she can control, then he/she doesn't know what can be changed, influenced, improved or adjusted. In other words, managers typically ignore what is outside their sphere of control because it is a waste of time to try to do anything about those ...

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Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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