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- The National Revenue Authority (NRA), is charged with the collection of tax revenues for the National Treasury. Each year they are given a target to achieve. However, from past experience the Authority has realized the actual collections achieved is dependent on the performance of the economy. This has gotten the Commissioner worried to such an extent that he has summoned a meeting of all the Unit Directors to consider how well to incorporate this uncertainty into the Authority’s decision making and planning. Being the Director of Planning, you have been tasked with the guidance of the whole team. Required: a) Advise on the procedure generally followed in the decision making process. b) Explain clearly the key activities involved in the risk assessment process. c) Comment on the relationship between decision making and risk analysis. d) Briefly explain the characteristics of the main decision types and which one would be more at play in this situation.6. A careful analysis of the cost of operating an automobile was conducted by accounting manager Dia Bandaly. The following model was developed: y=4,000+0.20x, where y is the annual cost and x is the miles driven. Part 2 a) If the car is driven 15,000 miles this year, the forecasted cost of operating this automobile= ___________ (enter your response as a whole number).This type of operational planning may cover the medium‐term needs of the business including budgeting, the purchasing and supply system and organisation thereof, purchasing and supply methods, negotiation and development of human resources. (1) Strategic level planning. (2) Tactical or middle‐management planning. (3) Operations level planning. (4) Operational planning. (5) Short‐term planning. This is in fact a production or operations scheduling system and not an inventory control system. It eliminates the holding of inventory and is based on requiring suppliers to deliver materials of the right quality to the business on the day they are needed and where they are needed. (1) Cyclical‐ordering system. (2) Materials‐requirements planning. (3) Just in time. (4) System of fixed‐order quantities. (5) Quick response system.
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