Managerial Economics Introduction Economic principles inform good business decision making. Although economics is sometimes dismissed as a discourse of practical relevance to only a relatively small circle of academicians and policy analysts who call themselves economists‚ sound economic reasoning benefits any manager of a business‚ whether they are involved with production/operations‚ marketing‚ finance‚ or corporate strategy. Along with enhancing decision making‚ the field of economics provides
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MANAGERIAL COMMUNICATION Managerial communication cannot exist without management. It is a major‚ fundamental component of the latter. Each evolution stage of management determined specific forms of managerial communication. Due to the fact that the manager’s attributions are varied and Managerial communication cannot complex (as administrator‚ he organizes process at an organizatorical level‚ as leader‚ makes decisions‚ as entrepreneur takes action at the right moment for
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UNIVERSITY OF GUYANA FACULTY OF SOCIAL SCIENCES DEPARTMENT OF ECONOMICS ECN 213 - MANAGERIAL ECONOMICS COURSE OUTLINE SUMMER - 2010 LECTURER: Roger Rogers E-mail: rogers.roger@gmail.com INTRODUCTION Managerial Economics provides a foundation of economic understanding for use in managerial decision-making. Both microeconomic and macroeconomic relations have implications for this decision-making process. Since the demand for a firm’s products plays a major role in determining its
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This paper integrates elements from the theory of agency‚ the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We focus in this paper on the behavioral implications of the property rights specified in the contracts between the owners and managers of the firm. The possibility of monitoring the behavior of the company by means of review of controls has stayed aside in this analysis. In the activity they can use resources for changing
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The history of Jollibee dates back to 1975‚ when a Filipino entrepreneur Tony Tan Caktiong (Tony) set up a two-outlet ice cream parlor business in the city of Manila. His father used to operate a kitchen in Fujian (China)‚ which was where Tony’s association with the food services business began. Though the ice cream parlor business was doing well‚ Tony wanted to do something bigger in the foods business - in the form of a fast-food outlet chain. His vision was inspired by the global popularity of
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Introduction Jollibee Foods Corporation Company Background Tony Tan Cacktiong founder of Jollibee Foods Corporation tells a story about the success story of his company. There are many other stories about Tan and Jollibee that many people didn’t know about‚ and that would have remained unknown‚ If Tan hadn’t bested successful entrepreneurs from 30 other countries to win the “World entrepreneur of the year” Award in Montecarlo‚ Monaco‚ on May 28‚ 2004. Tan had always been low-key and media-shy
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Chapter 1 Managerial accountingis the process of identifying‚ measuring‚ analyzing‚ interpreting‚ and communicating information in pursuit of an organizations goals. Managerial accounting is an integral part of the management process‚ and managerial accountants are important strategic partners in an organizations management team. Four fundamental management processes that help organizations attain their goals Decision making‚ Planning(developing a detailed financial and operational description of
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of resources in ways that helps an organization achieve its goals. In the content we shall be describing the six managerial competencies‚ going into detail and also relating them to an individual’s personality. These managerial competencies are: communication‚ planning and administration‚ self-management‚ strategic action‚ global awareness and team work competency. All these managerial competencies are also an aspect of our daily lives‚ in discussion we will examine these competency’s strengths and
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Managerial Economics School of Distance Education Bharathiar University‚ Coimbatore - 641 046 Author: Atmanand Copyright © 2007‚ Bharathiar University All Rights Reserved Produced and Printed by EXCEL BOOKS PRIVATE LIMITED A-45‚ Naraina‚ Phase-I‚ New Delhi-110028 for SCHOOL OF DISTANCE EDUCATION Bharathiar University Coimbatore-641046 CONTENTS Page No. UNIT-I Lesson 1 Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6 Lesson 7 Managerial Economics: Definition
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the markets. Managerial Economics should be thought of as applied microeconomics. That is‚ managerial economics is an application of that part of microeconomics focusing on those topics of greatest interest and importance to managers. These topics include demand‚ production‚ cost‚ pricing‚ market structure‚ and government regulation. A strong grasp of the principles that govern the economic behaviour of firms and individuals is an important managerial talent. In general‚ managerial economics can
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