Boss's decision

The decision of your boss is based on what and how information you feed to them. Basically, your boss is keep sucking information and use them to make decision. (I donno whether they digest the information or not) 

Do they go to see what is going on themselves? Yes, maybe, but not always or often. That's why they need you to feed them information.

I am not telling you to hide information or lie to your boss, and I just remind you that you should not miss reporting "some important information" to them.

Lets use an example.
In a meeting, all staffs look sad because of the information of boss asks for. The boss requests them to look for how the opponent reach goal A, B, and C..... but they cannot. At last, staffs collect the data and have a result.
One of the staff adds a piece of information in the report is: how much the opponent have spent in achieving goal A, B, and C...
Another staff adds if we cannot achieving goal A, B, and C... how much the company will suffer.