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Discuss the codes and polices that a business can draw up to ensure ethical behaviour?
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In this condition all polices that impede the flow of goods from one country to another are eliminated?
Free trade
What is the use of statistics in economics?
It helps in summarising the data It helps in making polices It gives information in a precise and exact form It helps to find out the relationship between economic facts
What are personnel policies discuss the process of policy formulation?
i) To Achieve the objectives of the organisation: Polices are guide to action towards the objectives of the organisation so they must be known to ever concerned person in order to concentrate their efforts towards the objectives.(ii) Uniformity in decisions: Personnel polices furnish the general standard or basis on which decisions are reached. Decisions in one organisation are taken by the various line authorities keeping in view the personnel polices and thus uniformity of action is maintained similar cases. There is the least possibility of workers' exploitation through base decisions.(iii) Delegation of authority possible: Delegation of authority means assigning work to others and give them authority to do it. Personnel policies help the executives at various levels of decision centres to act with confidence without consulting the superiors every time. They give a manger liberty to choose the alternatives provided an to decide upon the action.(iv) Better control: Better control : As personnel polices specify relationship among organisation, management and workers, 50 each group works for the achievement of the large objectives of the organisation without any policy conflicts. Thus it provides better control.(v) Evaluating Efficiency: Policy provides standards the execution of work. Efficiency of each group may be evaluated by performance in the light of the policy. It may be assessed whether organisation has achieved the desired results set in the policy. Policy maybe amended or a new policy mat be formulated in the light of the actual performance.(vi) Confidence: Policy provides the workers a security against exploitation. It creates confidence in the in the employees. They may know where they stand in relation to the organisation.(vii) Motivation of workers: Policy makes the employee aware of the objectives of the organisation and guides the workers in achieving them. So they work enthusiastically and with loyalty to gt those objectives.(viii) Guide to management: Policy provides guidance to management in relation to the personnel problems they resolve how to get work done by the people at work or how to behave them.
What are the major macro economics issues ehich makes the subject matter of macroeconomics?
The Major Macroeconomic Issues are:Economic growth and standard of livingA growing economy means that there will be more goods and services for people to consume.while standard of living is the degree to which people have access to goods and services that make their life easier, healthier, safer, and more enjoyable.Unemploymentrefers to a situation where a group of people who would like to work or to be employed but can not find work or a job. Macroeconomics study the causes of unemployment and the reasons to why it differs across countries.Inflationinflation refers to a general raise in crises throughout the economy. macroeconomic is concerned to what cause inflation? what is the relationship between inflation and other macroeconomic objectives. keeping prices under control is a major macro economics issue.Balance of payment and exchange ratesbalance of payment refers to the record of a country's financial transactions between the residents of the country and the rest of the world. exchange rate is the value of one currency for the purpose of conversion to another. macroeconomics studies the related issues in balance of payment and the exchange rate, for example it asks questions such as what causes balance of payment problems? and how does the balance of payment and the exchange rate relates to other macroeconomics issues? and what are the best polices for the government to adopt.Recession and expansionsEconomy experience periods of slow growth that is Recession and more rapid growth that is Expansions. Macroeconomic examines the sources of these periods and the government polices that attempt to moderate them.
Define Managerial Economics and discuss its importance and functions?
Managerial economics (sometimes referred to as business economics), is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression analysis and correlation, Lagrangian calculus (linear). If there is a unifying theme that runs through most of managerial economics it is the attempt to optimize business decisions given the firm's objectives and given constraints imposed by scarcity, for example through the use of operations research and programming. Almost any business decision can be analyzed with managerial economics techniques, but it is most commonly applied to: * Risk analysis - various models are used to quantify risk and asymmetric information and to employ them in decision rules to manage risk. * Production analysis - microeconomic techniques are used to analyze production efficiency, optimum factor allocation, costs, and economies of scale and to estimate the firm's cost function. * Pricing analysis - microeconomic techniques are used to analyze various pricing decisions including transfer pricing, joint product pricing, price discrimination, price elasticity estimations, and choosing the optimum pricing method. * Capital budgeting - Investment theory is used to examine a firm's capital purchasing decisions. At universities, the subject is taught primarily to advanced undergrads. It is approached as an integration subject. That is, it integrates many concepts from a wide variety of prerequisite courses. In many countries it is possible to read for a degree in Business Economics which often covers managerial economics, financial economics, game theory, business forecasting and industrial economics. Importance of the study of Managerial Economics: Managerial Economics does not give importance to the study of theoretical economic concepts. Its main concern is to apply theories to find solutions to day -today practical problems faced by a firm. The following points indicate the significance of the study of this subject in its right perspective. 1. It gives guidance for identification of key variables in decision making process. 2. It helps the business executives to understand the various intricacies of business and managerial problems and to take right decision at the right time. 3. It provides the necessary conceptual, technical skills, toolbox of analysis and techniques of thinking and other such most modern tools and instruments like elasticity of demand and supply, cost and revenue, income and expenditure, profit and volume of production etc to solve various business problems. 4. It is both a science and an art. In the context of globalization, privatization, liberalization and marketization and a highly competitive dynamic economy, it helps in identifying various business and managerial problems, their causes and consequence, and suggests various policies and programs to overcome them. 5. It helps the business executives to become much more responsive, realistic and competent to face the ever changing challenges in the modern business world. 6. It helps in the optimum use of scarce resources of a firm to maximize its profits. 7. It also helps in achieving other objectives a firm like attaining industry leadership, market share expansion and social responsibilities etc. 8. It helps a firm in forecasting the most important economic variables like demand, supply, cost, revenue, price, sales and profit etc and formulate sound business polices 9. It also helps in understanding the various external factors and forces which affect the decision making of a firm. Thus, it has become a highly useful and practical discipline in recent years to analyze and find solutions to various kinds of problems in a systematic and rational manner. There are mainly two functions of managerial economics. Out of two major managerial functions served by the subject matter under managerial economics are decision making and forward planning: 1. Decision Making:- The techniques in this section help you to make the best decisions possible with the information you have available. With these tools you will be able to map out the likely consequences of decisions, work out the importance of individual factors, and choose the best course of action to take. == There are several basic kinds of decisions. 1. Decisions whether. This is the yes/no, either/or decision that must be made before we proceed with the selection of an alternative. Should I buy a new TV? Should I travel this summer? Decisions whether are made by weighing reasons pro and con. The PMI technique discussed in the next chapter is ideal for this kind of decision. It is important to be aware of having made a decision whether, since too often we assume that decision making begins with the identification of alternatives, assuming that the decision to choose one has already been made. 2. Decisions which. These decisions involve a choice of one or more alternatives from among a set of possibilities, the choice being based on how well each alternative measures up to a set of predefined criteria. 3. Contingent decisions. These are decisions that have been made but put on hold until some condition is met. 2. Forward Planning:- The term 'planning' implies a consciously directed activity with certain predetermined goals and means to carry them out. It is a deliberate activity. It is a programmed action. Basically planning is concerned with tackling future situations in a systematic manner. Forward planning implies planning in advance for the future. It is associated with deciding the future course of action of a firm. It is prepared on the basis of past and current experience of a firm. It is prepared in the background of uncertain and unpredictable environment and guess work. Future events and happenings cannot be predicted accurately. The success or failure of the future plan depends on a number of factors and forces which are unknown in nature. Much of economic activity is forward looking. Every time we build a new factory, add to the stocks of inputs, trucks, computers or improvements in R&D, our intension is to enhance the future productivity of the firm. Growing firms devote a significant share of their current output to net capital formation to bolster future economic output. A business executive must be sufficiently intelligent enough to think in advance, prepare a sound plan and take all possible precautionary measures to meet all types of challenges of the future business. Hence, forward planning has acquired greater significance in business circles.
Importance of macroeconomics in brief?
1.to understand the working of the economy 2.in economic polices 3.formulating appropriate policy 4.in national income 5.analysis of monetory problems 6.in business cycle 7.for understanding behaviour of individual unit
Is political parties determine the nature of foreign policy?
They does because it is them who form the part of polices and it is them who discuss all the issues based on the policies to the government departments.
What does Alliance and Liecester Business Banking do?
Alliance and Liecester Business Banking is part of Santander. As a bank, Alliance and Liecester Business Banking deals with money currency. However, it has it own polices.
What impact did U.S. governmental polices have on business and industry during the late 1800s?
The U.S. government had little or no influence on business and industry.
What is the principle of personal polices?
personal polices are the principle
What were Mussolini's polices?
Tortellini
What is the purpose of an audit?
The purpose of an audit is to add credibility to the financial statements of a business organization.To give credence to the accounting records, accounting polices and financial statements of an audit client.
What are the polices real name?
Pigs !!
What is a moderater?
A moderator is someone who polices the site.
What changes did Washington make in his enlistment polices?
No
Can police officers make their own polices?
no
Regulates and polices the stock market?
sec
