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Why is it important for business managers to be familiar with time value of money concepts?
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Why is it important to forecast the future of the cycle of business activity?
Managers use forecasting so that they are better prepared for ebbs and flows of their business. With more information about business cycles, managers will not waste money.
Why business ethics is so important?
Business ethics are important because managers want customers to purchase their products. When customers think businesses aren't ethical, they tend to avoid purchasing from them.
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
What are the importance of economics in business studies?
Economics are important because understanding them helps managers make decisions. The more managers understand economics, the better they will be at pricing products and offering salaries to their employees.
What are the sources of business rules?
company managers policy makers department managers written document
Why is it important for managers to be familiar with time value of money concepts?
The fact that a dollar to be received next week is worth less than a dollar to be received today is important in finance because the value of a business firm is, fundamentally, the sum of the values today of all the dollars expected to be received by the business firm in the future.
Why is it important to forecast the future of the cycle of business activity?
Managers use forecasting so that they are better prepared for ebbs and flows of their business. With more information about business cycles, managers will not waste money.
Why it is important for managers to understand the environment in which their business operates?
Helps managers to put into practice the principles underlying the process of management which inturn help him to see the interrelationship between particular theories of management and actual practice.
What is the importance of communication in business management?
Communication is important within business management because it helps managers get their messages to receivers. Managers must know how to communicate in order to get the company's strategy accomplished.
Why business ethics is so important?
Business ethics are important because managers want customers to purchase their products. When customers think businesses aren't ethical, they tend to avoid purchasing from them.
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
Why is business management important?
Business management is important because without managers employees would all do what they feel is best for the business. A business must have a direction and a plan to get to the goal in order to be successful. When this happens, departments won't meet productivity.
Why statistic is important?
Statistics are important because you can gain insight about trends in business and finance. With more knowledge, managers can make better decisions.
What is managing and managers?
management is the business as managers are the ones over the business and have control on the regulation of the management
What is Management and Managers?
management is the business as managers are the ones over the business and have control on the regulation of the management
Why is it important for business managers to understand the information found on financial reports?
Business managers must understand financial reports so that they can correct any problems in production. If they don't understand, they could potentially lose money during production.
How mathematics is applied in business?
Mathematics are important in business because it helps managers understand how their department is performing. It also helps them understand how they compare to other companies.
