Unit – I Nature & Scope of Managerial Economics Contents Fundamental Economics Concepts: Opportunity Cost‚ Discounting principle‚ Time perspective‚ Incremental reasoning‚ Equi-marginal concept. Marginal concept in economics. Economics of information: Risk‚ Uncertainty‚ Asymmetry of information‚ Adverse Selection‚ Market Signaling. The theory of firm; Econometric Models & Economic optimization. ____________________________________________________________________________________
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UNIT-1 THE NATURE AND SCOPE OF MANAGERIAL ECONOMICS Nature Of Managerial Economics Managerial Economics and Business economics are the two terms‚ which‚ at times have been used interchangeably. Of late‚ however‚ the term Managerial Economics has become more popular and seems to displace progressively the term Business Economics. The prime function of a management executive in a business organization is decision-making and forward planning. Decision-making means the process of
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“Power Distance has been defined as the extent to which the less powerful members of organizations and institutions accept and expect that power is distributed unequally” (Hofstede‚ n.d.). The Billings 911 Center management staff would define the power distance as low‚ but the organization has a high power distance. According to Hofstede‚ “power distance represents inequality‚ but defined from below‚ not from above” (n.d). Even though management may perceive a small power distance‚ their behaviors
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ABSTRACT This project work is to design and implement hospital billing system that will reduce cost‚ complaints‚ time and increase efficiency of billing within the hospital. We investigate the St. Joseph’s General Hospital near at cathedral specific in Ozamiz City. Reveals that the manual system of keeping records and billing patients in the hospital has some problems such as using paper and pen to calculate patient’s bills thus increasing cost in the establishment. During our observation
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understanding and commitment‚ strategy-implementation efforts face major problems. Implementing strategy affects an organization from top to bottom; it impacts all the functional and divisional areas of a business. It is beyond the purpose and scope of this text to examine all the business administration concepts and tools important in strategy implementation. Even the most technically perfect strategic plan will serve little purpose if it is not implemented. Many organizations tend to spend
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TITLE: Adaptation of Hindu Epic as animation movies and Interpretative analysis of Ramayana and Hanuman. Introduction- Emergence of animation‚ scope and its significance. Much of Asia’s animation production since the 1960s has been tied to foreign interests attracted by stable and inexpensive labor supplies. For nearly forty years‚ western studios have established and maintained production facilities‚ first in Japan‚ then in South Korea and Taiwan‚ and now also in the Philippines
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portion of the company’s e-commerce revenue came from e-billing‚ whereas the majority came from electronic bill payment. E-billing‚ also called paperless billing‚ is a method in which financial intermediaries or other billers can send bills to their customers over the internet‚ and electronic bill payment would be offering customers to pay those bills online. The problem that Fiserv had run into was getting more customers to buy into the e-billing process. It was an easy sell to the financial intermediaries
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THE SCOPE AND NATURE OF QUALITATIVE RESEARCH SFR780 GOODWIN TWO CULTURES OF RESEARCH* Humanistic Research Natural Science Research Individuals and relations Properties or attributes of objects Development is of interest to the researcher Objects normally are not assumed to change during course of study Intensive study of small number of individuals Objects/individuals studied in natural surroundings Study many specimens‚ sample
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WATER SCARCITY AND SECURITY IN INDIA Dr. Narayan G. Hegde nghegde@baif.org.in Global Water Crisis Water is life because plants and animals cannot live without water. Water is needed to ensure food security‚ feed livestock‚ maintain organic life‚ take up industrial production and to conserve the biodiversity and environment. Hence‚ there is no life without water. Earth is the only plant‚ so far known to have water and this makes it fit for human living. However‚ with reckless abuse and
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Executive Summary This study covers the proposed system of Best Blue Water Refilling Station. Since the company started‚ the proponents noticed that the company is using manual based operation towards their inventory and point of sale. Mainly pertaining to the untimely processing of their data and information reliability which is a concern when it comes to the processing of their existing system. POS and Inventory system of Best Blue Water Refilling Station was designed by the proponents to
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