Search results
Results From The WOW.Com Content Network
Managerial economics aims to provide the tools and techniques to make informed decisions to maximize the profits and minimize the losses of a firm. [4] Managerial economics has use in many different business applications, although the most common focus areas are related to the risk, pricing, production and capital decisions a manager makes. [31]
Managerialism is the idea that professional managers should run organizations in line with organizational routines which produce controllable and measurable results. [1] [2] It applies the procedures of running a for-profit business to any organization, with an emphasis on control, [3] accountability, [4] measurement, strategic planning and the micromanagement of staff.
The Economic Nature of the Firm: A Reader (3rd ed.) Cambridge University Press. Aghion, Philippe; Holden, Richard (1 May 2011). "Incomplete Contracts and the Theory of the Firm: What Have We Learned over the Past 25 Years?". Journal of Economic Perspectives. 25 (2): 181– 197. doi: 10.1257/jep.25.2.181. JSTOR 23049459. S2CID 55679839
However, there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken. Marshall's original introduction of long-run and short-run economics reflected the 'long-period method' that was a common analysis used by classical political economists.
Thinking about their time in terms of money (economic evaluation of time), subsequently impacts people's decisions about time-use and attitude toward others (see 'Consequences' section). The focus on money can be induced in laboratory settings, as well as in organizational contexts, such as under hourly payment schedules and performance ...
Business economics is actually the part of economics which can be simply regarded as the combination of economic theories and the relevant theories related to business management. Business economics is the study to focus on how economic theories will be affected by the performance of business or business activities in practice.
In behavioral economics, time preference (or time discounting, [1] delay discounting, temporal discounting, [2] long-term orientation [3]) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. [1] Applications for these preferences include finance, health, climate change.
Management science (or managerial science) is a wide and interdisciplinary study of solving complex problems and making strategic decisions as it pertains to institutions, corporations, governments and other types of organizational entities.