Application Journal 1

Application Journal 1 - Ravindra Ramoutar BUS 505 In...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Ravindra Ramoutar BUS 505 In Chapter 1, the goals of for-profit and not-for profit organizations are discussed. Also, the decision-making process and shareholder-wealth optimization are developed in great detail. The problems associated with the separation of ownership and control agency relations in large firms are highlighted. Finally, normative goals to guide resource-allocation decisions in public sector and not-for profit enterprises are introduced. What is Managerial Economics? Managerial Economics explores the application of microeconomic/macroeconomic theories to the real-world decision-making; all aimed at achieving a specific goal . In the short run, a manager makes decisions on such as estimating demand, quantity of output to produce and forecasting future demand. In the long-run, economically managerial decisions such as acquiring other firms, marketing new products/ideas and embarking on capital expenditures. The
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/27/2011 for the course BUS 505 taught by Professor Smith during the Spring '11 term at Binghamton University.

Page1 / 2

Application Journal 1 - Ravindra Ramoutar BUS 505 In...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online