2a. Describe the three primary managerial attributes: technical competence‚ social and human skills and conceptual ability. Discuss how their importance varies with the type and level of manager’s job. (10m) The three primary managerial attributes were introduced by Robert L Katz. Whilst social and human skills are required through all levels of managements‚ the amount of technical competence and conceptual ability required by a manager varies at different levels of management due to the nature
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MBA 5600 Managerial Economics Assignment #1 1. What impact will the prospect of deprivatization have on investment by managers of privatized firms? The impact will be: - Loosing corporate focus; - Missing planned CEO turnover; - Affecting planned managerial objects and strategic efficiency Obviously‚ normal managers invest in long-term projects‚ products and services‚ deprivatization may come up with a different strategy that not aligned with corporate goals and its profit will probably
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Meixner Essay #4 December 2‚ 2008 “A Smile Is Worth So Much More” People often judge or misperceive others appearances in a less than equal manner before they even know the true nature of the person. Every day we make assumptions by what we can see physically. Even in the supermarkets‚ we distinguish good products from bad products based on how they look. We are apt to choose good-looking products because they don’t have flaws‚ cracks‚ and bruises. Moreover‚ we assume them to have
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Federalist Paper No.15 expressed how he felt about the people and the government. Hamilton argued non-stop about the Constitution problems and how he would like to solve them. Hamilton had his own beliefs‚ fears‚ and assumptions about the arguments he faced with the Constitution‚ but he was not afraid to speak up and speak out about how he would solve them himself. In the Federalist paper No. 15‚ Alexander Hamilton argues that a stronger central government is needed‚ and he believes that without
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3/5/13 Response Paper 2 Everyone has their own opinion about environmentalism. Some support it all the way‚ some people absolutely can’t stand it‚ and then there are those like me that fall in between. A Sand County Almanac and Silent Springs are two of the most influential pieces of environmental literature ever written. Parts of them didn’t exactly convince me and parts of them shocked me so much I think twice on certain aspects of my life. In this short response paper I will talk about what
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Managerial Economics OBJECTIVES: The course in Managerial Economics attempts to build a strong theoretical foundation for Management students. The course is mainly analytical in nature and focuses on clarifying fundamental concepts from microeconomic viewpoint. The students are expected to study and analyses the dynamics of managerial decision making through this course. Also wherever possible‚ students are expected to study‚ analyses and interpret empirical evidence and case studies available
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Managerial Economics Meaning: - Managerial Economics deals with money/income. It helps in decision making regarding sales‚ production‚ and profit. It is a branch of economics that applies microeconomics analysis to decision methods of businesses or other management units. Artha – Money/Income Shasthra – Body of Knowledge Economics – Body of knowledge which deals with the management of money. DEFINITIONS OF MANAGERIAL ECONOMICS • According to
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1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are
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Q1. A. “The objective of economic analysis is not merely to discover the truth but also to assist in the solution of concrete problems.” Comment. Economic analysis provides a systematic approach for studying the allocation of resources to achieve an organization’s objectives. Techniques of economic analysis help ensure efficient operations‚ minimize overhead and compare costs and benefits Function • Economic analysis provides a systematic approach for industry‚ government agencies and nonprofit
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Jefferson vs. Hamilton Jefferson or Hamilton: Who was more important in American history? Thomas Jefferson and Alexander Hamilton were two very important figures in American history but Jefferson was the more influential and profound one of the two rivals. Jefferson was the principal author of the most important document in US history‚ the Declaration of Independence. He doubled the size of the young nation with the purchase of Louisiana during his presidency. During his lifetime‚ Jefferson
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