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because the main activity of managers are managing economics resource such as human, time, money, talent etc. all thos resource are limitted or scarce in their nature. the main goal of manager is to maximum profit from their activities to maximize this profi assemblies of factor of production for the purpose of producing goods and services to make maximum profit requires. Economic concept that are concerned with the allocation of resources and choose of alternatives tha gives maximum profi to the organization they manage.
What else can I help you with?
What is the nature of the economics?
managerial economics deals with the business firm and the economic problems it need to solve.it is the integration of the economic theories and business practise with the purpose of facilitating decision making and forward planning of management.
What are States of nature of alternative Decision making?
States of nature in alternative decision-making refer to the various possible scenarios or outcomes that can arise from a decision situation, which are typically uncertain and beyond the decision-maker's control. These states represent different environmental conditions or events that can affect the results of a decision. In decision-making frameworks, such as decision trees or payoff matrices, states of nature help evaluate the potential consequences of different choices, enabling better-informed decisions under uncertainty. Understanding these states is crucial for assessing risks and developing strategies to optimize outcomes.
What is the nature of production management?
The nature of production management is to drive the development of the product for the company and business. The product managers are in charge of making sure the product is performing, developing, and growing for the company.
What are the nature of Economic development?
nature of economic development
What is the nature of economic system of a company?
What is nature of economic system?
What is the nature of the economics?
managerial economics deals with the business firm and the economic problems it need to solve.it is the integration of the economic theories and business practise with the purpose of facilitating decision making and forward planning of management.
What is nature of management information system?
The nature of management information system is that it can be used for purposes of decision making. This is a system which provides all the necessary information about an organization.
What is nature of management by objective as a system of management?
Management is a process of forward planning, decision making, co-ordinating, communicating and motivating the subordinates to achieve the objective of an organization.
1 What is the nature and scope of accounting?
What is management accounting ?Explain the nature and scope of management accounting management accounting is a part of accounting which is used for decision making lik in the organisation these decision makers prepare cash flow statement wich helps in forcasting the future profit of the organisation
What are modern management ethos?
Dear sir /madam Wants relates of ethics management contents is ,introduction , nature,scope, purpose,importantece , moral standard,features decision making advertising, investment etc. Dear sir /madam Wants relates of ethics management contents is ,introduction , nature,scope, purpose,importantece , moral standard,features decision making advertising, investment etc.
Define the term environment and explain the nature of the environment of management?
Environment is what is surrounding us, whether living or non-living. Things we can see and feel, things we cannot see but feel e.g. air, people and their practices and landforms also the weather.
What has the author Sven Wunder written?
Sven Wunder has written: 'Payments for environmental services' -- subject(s): Economic aspects, Economic aspects of Ecosystem management, Economic aspects of Nature conservation, Ecosystem management, Nature conservation 'Promoting forest conservation through ecotourism income?'
What are States of nature of alternative Decision making?
States of nature in alternative decision-making refer to the various possible scenarios or outcomes that can arise from a decision situation, which are typically uncertain and beyond the decision-maker's control. These states represent different environmental conditions or events that can affect the results of a decision. In decision-making frameworks, such as decision trees or payoff matrices, states of nature help evaluate the potential consequences of different choices, enabling better-informed decisions under uncertainty. Understanding these states is crucial for assessing risks and developing strategies to optimize outcomes.
What is 'the nature of management?
The nature of production management is to drive the development of the product for the company and business. The product managers are in charge of making sure the product is performing, developing, and growing for the company.
When Permanent current assets are not a factor in a manager's decision making process?
long term in nature
What is the nature of production management?
The nature of production management is to drive the development of the product for the company and business. The product managers are in charge of making sure the product is performing, developing, and growing for the company.
When would Permanent current assets not be a factor in a manager's decision making process?
When they are long term in nature
