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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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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Bangladesh for discharging managerial functions. To achieve this objective‚ 151 organizations from manufacturing and service industries have been surveyed with a structured questionnaire by using 5 point Likert scale. By identifying fourteen management accounting techniques‚ three factors have been identified to determine the variability’s of the usage level in managerial functions. The total variabilities in application of management accounting techniques in managerial functions of manufacturing
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Managerial Accounting Final Essay – Managerial Accounting Abstract Discussing the importance of managerial accounting for managers and business leaders who are not accountants. Understanding accounting principles‚ job costing‚ decisions for capital investments‚ and central versus decentralized business units. Managerial Accounting In business‚ accounting principle is necessary for report annual and quarterly reports‚ IRS‚ shareholders
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............................ 2 2.0 MANAGERS………………………………………………………………………….. 2 2.1 Top Level Managers…………………………………………………………… 2 2.2 Middle level Managers………………………………………………………… 2 2.3 Low level Managers or first-line Managers…………………………………… 3 3.0 MANAGERIAL FUNCTIONS………………………………………………………. 3 3.1 Planning……………………………………………………………………….. 4 3.2 Organising……………………………………………………………………… 4 3.3 Leading or Directing…………………………………………………………… 5 3.4 Controlling…………………………………………………………………….. 6 3.5 Staffing…………………………………………………………………………
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Tumbling Managerial Accounting Unit 2 IP January 24‚ 2013 Abstract In this discussion essay we will be discussing managerial accounting and the difference from cost accounting. We will learn what the lean production philosophy is. We will also go into depth about the difference between accounting principles in lean production to those of typical production. And lastly‚ we will discuss how to advise our Chief Administrator to prepare for a reduced budget. Managerial Accounting Managerial and
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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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How Ethics Influences Leadership In order to draw a correlation of ethics to leadership and provide an overview‚ I find that I must first place the elements of the correlation into the following contextual reference: definitions offered in the textbook‚ the objectives of the lesson(s)‚ and finally our societal or cultural paradigms at play. In our textbook Supervision by Certo‚ ethics is defined as the principles by which people distinguish what is morally right and leadership as the management
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Managerial Skills Management is a challenging job. It requires certain skills to accomplish such a challenge. Thus‚ essential skills which every manager needs for doing a better management are called as Managerial Skills. According to Professor Daniel Katz‚ there are three managerial skills‚ viz.‚ 1. Conceptual Skills‚ 2. Human Relations Skills‚ and 3. Technical Skills. According to Prof. Daniel Katz‚ all managers require above three managerial skills. However‚ the degree (amount)
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Profit rates differ among firms in a given industry and even more widely among firms in different industries. Please explain the factors which contribute to different profit rates. Profit rates differ among firms in any given industry in variety of industries. Several theories are explained below to show which the factors are influences the profit of a firm; A. Risk Bearing Theory of Profit The idea was conceived initially by an American economist‚ F.H. Hawley. Hawley believed that a circle
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