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Define the departmental, long-term and non-economic managerial decisions.
Departmental, Long-term and Non-Economic decisions:
In long term decisions, there time period enclosed is long and the risk included is more. Departmental decisions associate to a particular department merely and are occupied by departmental head. And Non-economic decisions associate to factors as like technical values and moral behaviours etc.
According to the systems approach, all organisations are open systems as they are being impacted by different components of the external business environment. In such a context, th
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