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The four strategies of managerial influence are:

  1. Rational persuasion: Using logical arguments and factual evidence to convince others of a particular course of action.
  2. Inspirational appeals: Engaging emotions and values to inspire enthusiasm and commitment toward a goal.
  3. Consultation: Involving others in the decision-making process to gain their support by valuing their input.
  4. Coalition tactics: Building alliances with others to strengthen one’s position and influence decisions collectively.
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Managerial economics applies economic theory and methods to business and administrative decision making. Managerial economics prescribes rules for improving managerial decisions. Managerial economics also helps managers recognize how economic forces affect organizations and describes the economic consequences of managerial behavior. It links traditional economics with the decision sciences to develop vital tools for managerial decision making. This process is illustrated in Figure 1.1. Managerial economics identifies ways to efficiently achieve goals. For example, suppose a small business seeks rapid growth to reach a size that permits efficient use of national media advertising. Managerial economics can be used to identify pricing and production strategies to help meet this short-run objective quickly and effectively


Relation between managerial tasks and managerial levels?

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