KEY CONCEPTS • managerial economics • theory of the firm • expected value maximization • value of the firm • present value • optimize • satisfice • business profit • normal rate of return • economic profit • profit margin • return on stockholders’ equity • frictional profit theory • monopoly profit theory • innovation profit theory • compensatory profit theory Managers‚ Profits‚ and Markets Chapter 1 How Is Managerial Economics Useful? • Evaluating Choice Alternatives • Identify ways
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Term- I Course Title : Managerial Economics Course Credits : 3 Course Faculty : Prof. Animesh Singh Learning Objectives At the end of this course‚ the student should be able to: • develop a basic understanding of economics as an important tool for taking effective managerial decisions; • develop the concept of managerial economics and its applications; and • to apprise how managers need to understand
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2.1 Roles and Responsibilities: School Governors Governors are responsible for making sure a school provides a good quality of education for the pupils. They promote effective ways of learning and teaching by setting the schools policies. How a governor does there job affects the teachers‚ pupils and how a school is viewed in the local community. Governors would usually include local authority governors‚ parent’s governors‚ staff governors which normally would always include the head teacher
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Managerial skills learnt from classroom can never match those learnt from experience. Intro Skills are the basic tools at everyone’s hand to dispose at the time of its usage which effectively finishes the work. Managerial skills are honed at many levels in the educational or work life and have got their own substantial supporting statements about the time and emplacement of earning the skills. You are talking about Dhirubhai Ambani but have you think of Lakshmi Mittal the 6th Richest Man in
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a 1. Define the three aspects of organizational architecture. The three aspects of organizational structures as highlighted in the synopsis of Managerial Economics and Organizational Architecture are as follows : 1. The assignment of decision rights within the firm 2. The methods of rewarding individuals 3. The structure of systems to evaluate the performance of individuals and units These three components are often referred to a stool with three legs. If one of the
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Introduction In this rapidly growing dynamic environment‚ organisations are fighting a constant battle to remain competitive; in such‚ the usage of teams has grown to be a criterion for organisational success. Organisations create teams for various reasons. Teams give a sense of responsibility and empowerment to members who are performing the tasks assigned. This‚ in return‚ increase efficiency and productivity‚ at the same time allow organisation to minimize its bureaucracy and foster flexibility. Other
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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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Benedictine University MBA 601 Managerial Accounting Final Project (paper) Outsourcing In today’s business environment‚ outsourcing becomes more and more popular and important for all kind of companies because more and more companies realized the benefits of outsourcing. Outsourcing is the process by which the company contracts to another one to supply some goods and services. Outsourcing is not only used in the domestic business‚ but also used in the international business that is the offshoring
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Table of Contents: Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Accounting Managers role . . . . . . .. . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . 3 Individuals/groups important to the job . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-5 Principle characteristics . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . 6 Nature of interdependency
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as online recruitment or internet recruiting‚ refers to the process of advertising job vacancies online and formal sourcing of information about jobs online (Galanaki‚ 2002). Whist e- recruitment is considered a relatively new concept for many organisations‚ articles on the topic first started appearing in the mid-1980s (Casper‚ 1985). However‚ it wasn’t until almost a decade later in the mid-1990s that more systematic and rigorous literature and research on e-recruitment began to appear in human
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