The problems of risks and imperfect foresight are very crucial for the investment decision. In real business situation, there is seldom an investment which does not involve uncertainties. Investment decision covers issues like the decisions regarding the amount of money for capital investment, the source of financing this investment, allocation of this investment among different projects over time. These decisions are of immense significance for ensuring the growth of an enterprise on sound lines. Hence, decisions on investment are to be taken with utmost caution and care by the executive.
Let’s take an example with controlling skills. The controlling can’t be a skill, but rather a process, or one of the managerial functions. Managers are controlling their employees through their interpersonal managerial skills that we already described. Other additional skills that I find in the theory are decision making skills. Again, decision making is a process and not the skill. When we have conceptual skills, we will make a better decision. Furthermore, when we have technical skills, we will make a better technical decision. I think that the basic skills all managers will need are skills explained as technical, conceptual, and interpersonal managerial skills.