Nobody downloaded yet

Economic Factors That Influence Manager Decision - Essay Example

Comments (0) Cite this document
This paper aims to present an in-depth understanding of the economic factors that influence the managers’ decision-making activity. Organizations are implementing strategies that will not only see them be competitive in the market but also remain relevant. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93% of users find it useful
Economic Factors That Influence Manager Decision
Read TextPreview

Extract of sample "Economic Factors That Influence Manager Decision"

Download file to see previous pages As the paper explores it is important to understand that economic factors refer to the changes that take place in cost and prices of commodities, the exchange rates, inflation rate, and interest rates among others. In simple terms, they hamper the ability of an organization to generate profits thus often require to be monitored closely.
According to the report findings organizations look at their budgets before setting out to start a project. This is because it will be able to give them an overview of the finances they have to carry out the project. However, there have been instances where organizations did not look at the resources they have due to myopic vision. Most of these leaders were driven by the interests that had been forecast if the project succeeds but did not want to look on the other side of what happens to the organization when the project fails. Take the case of Apple Inc in the 1990s when it was on the brink of bankruptcy because of the decisions that were being made by the management. It forced the board of members to employ back Steve Jobs who had parted ways with the organization. Therefore, this is just but an illustration of the importance of an organization working within its budgets in relation to the resources available. The aim of any business entity is to make profits, and if this does not take place, then there is no need of operating because it will mean that losses will be frequently incurred. This does not mean that the organization forgets there is a need to have a balance between maximization of profits and minimization of costs ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Economic Factors That Influence Manager Decision Essay”, n.d.)
Retrieved de
(Economic Factors That Influence Manager Decision Essay)
“Economic Factors That Influence Manager Decision Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Economic Factors That Influence Manager Decision

Factors that Influence Employee Selection another selling point of the corporation as the personnel is provided with a glimpse as to how the business is run and what appears to be the priority of the business in terms of assets. In this manner, an effective leadership example is conducted which, in the long run, be a basis of control and authority over the people. Factors Affecting Human Resource Planning The process of selecting personnel, placing them into key positions in the corporation and the over-all management of the affairs of the human resources is affected by a variety of factors. That is, the manner by which human resource management is conducted is influenced in large part, by...
10 Pages(2500 words)Research Paper

Economic Factors

...?Economic Factors Before settling on a given type of company and drawing a business plan, it is important to understand the type of industryin which it will be operating under. This is mainly determined by the type of products that the company will be producing and the number of producers in the market who are producing similar types of products and targeting the same market. While taking into consideration the amount of capital required and any barriers to entry, the company should weigh between the advantages and disadvantages of the various types of industries. A thorough analysis of this information should form the basis of deciding whether the company should operate in the low, medium or high concentration ratio (CR) industry... ....
4 Pages(1000 words)Assignment

What Factors Influence Gang Behavior

...lengths, including murder, so as to protect their interests. In order to be able to solve this problem, it is important to study the reasons or the root causes of gang behavior with the intention of trying to prevent new gang membership, while at the same time embarking on a mission to dismantle the already existing ones. This paper is a critical evaluation of the factors that influence gang behavior. Factors that Influence Gang Behavior Human beings are born innocent, free of sins and incapable of making any decision. However, as they continue to grow, they are faced with numerous challenges raging from family issues to other environmental...
5 Pages(1250 words)Research Paper

Factors that Influence the Mind

... Factors that influence the mind Human being and how they behave is influenced by many factors, which operate in their surroundings. These factors are manifested on the way the being will react to such stimuli which derives their response from the mind. The five major factors that would influence how the mind works include the following:- place, each and every place that the human being goes has a different effect on the mind, there is a way in which an individual will feel in one place and feel differently in others. An environment can be that full of singing, talking or meditating and all of these places would have a different feeling on the person (Henslin & James, pg. 253). Moreover, time is a factor that influences the mind... , at...
3 Pages(750 words)Essay

Factors that influence decision-making

...? The Effects of Categorization and Social Influences on Decision-Making Insert Insert Grade Insert Insert IntroductionHumans are bound to various decision making scenarios in their everyday life. As a result, decision making is an important phenomenon of everyone at all stages of life. The only difference that comes in decisions made is that sometimes they may seem correct or otherwise according to the consequences of those decisions. This is because accuracy in decision making usually depend on various influencers. There are external and internal factors that influence...
4 Pages(1000 words)Essay

Factors That Could Influence Employee

...? Factors That Could Influence Employee Topic Factors That Could Influence Employee The employee motivation in any organisation guides the performances and helps in achieving the desired organisational goals. There are various factors that motivate the employees both explicitly and implicitly. According to Maslow’s Theory of Motivation, there are different levels of need of an individual and these needs are satisfied by various motivating factors. In the hierarchy of needs, the most basic of all the needs are the physiological needs like hunger, thirst, shelter (Maslow, 1954). Thus the monetary reward is the most important motivating factor for any employee that works in an organisation. Thus the salary is the most basic need... to take part...
3 Pages(750 words)Essay

The Main Factors Which Influence Customer Buying Decision

...The Main Factors Which Influence Customer Buying Decision INTRODUCTION: Consumers are the individuals who buy goods and services for consumption purposes, the difference between a consumer and customer is that a customer is a group of businesses and organisations that purchase goods in order to use them as inputs in their production processes example the purchase of Raw materials. In this paper we will focus on the factors that influence consumer buying behaviour, these factors will be economic factors which include prices of goods, income levels and credit facilities availability, social...
6 Pages(1500 words)Essay

Factors that would influence the decision-making process

... of the of the Health sciences and medicine 29 May A twenty one year old girl has an upper right central incisor that has been previously root filled and is still not settling. Discuss the factors that would influence the decision-making process, the management and treatment of this process using evidence based approach. Unsuccessful Root Filling When a tooth has been root filled and is still not settling, the next logical action is to evaluate and assess the reasons for the failure of root filling. The most important reason for endodontic failure is microbial infection which can be intraradicular or extraradicular.(1) There may be an extra canal that was overlooked during the original procedure and has now become infected. Even... is...
11 Pages(2750 words)Essay

Political and Economic Factors, than influence ICT Developments in Greece

...Political and economic factors in Greece Economic factors The economy of the world exudes deep influences from developments in ICT. This is evident as indicated by the fact that every contemporary business in the world focuses on the integration if ICT in order to obtain some of the benefits that they offer. Greece, which is one of the member countries in the European Union, is trying to exploit some of the considerations of exploiting some of the possibilities of economic growth through ICT developments (Fleenor and Raven, 2000, 33). The main reason for exploiting the possibilities is for the utilization of ICT in creating a suitable environment for the improvement of its economy. It is possible to take note of the fact... to operate within...
2 Pages(500 words)Assignment

Factors That Influence Consumers Purchasing Decision

...Consumer Influential Factor Paper 1. Abstract Consumer behavior is an important field of study when concerning the area of marketing management. Consumer behavior signifies the functional activities of consumers, such as selecting and purchasing any product or service. Consumer behavior clarifies the motive and logic behind specific purchasing pattern being followed within a market context. Various methods have been applied correspondingly, in order to understand such factors. For example, various secondary sources have been evaluated in order to gain information about the factors that influence buying behavior of the consumers. Furthermore, a mind map...
15 Pages(3750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Economic Factors That Influence Manager Decision for FREE!

Contact Us