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Week 5 discussion Questions - Essay Example

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Statistics can be used by managers to create statistical model to make decisions based on quantitative analysis. The reason statistics are so difficult for me is…
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Week 5 discussion Questions
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Download file to see previous pages The second weakness are of mine is economics. Economic is a very useful academic discipline that can help managers in various ways. For example managers can use economic analysis to determine the supply and demand of its products. I t can also help managers determine the optimal sales price to achieve the highest profits possible. The reason I’m weak at economic is because it economics the professor who teach these subjects seem to always incorporate graphs in their discussion. Every time I see a economic graph it becomes very hard for me to interpret to the results. Also in economics there seems to be a lot of models and concepts that are extremely difficult to understand. Since these two disciplines are important for me achieve professional goal and will put a lot of extra efforts in the future courses I may take in any of these two subject matters.
The two business majors that have greatest utilize and maximum value for a corporation is managerial accounting and business research. Business research can be used in different ways to add value to a corporation. For example business research can be used to perform market research of potential expansion site in foreign territory. Researchers used either primary research or secondary research. Primary research occurs when the research perform original research, while secondary research is learning for a particular subject matter by reading and analyzing the written work in sources such as journal article, magazines, databases, and websites (Allbusines, 2009). Another research technique that can be very useful for managers is generic benchmarking. Generic benchmarking is a technique in which a company investigates business practices in other industries in order to imitate them.
Managerial accounting measures and reports financial and nonfinancial information that helps managers ...Download file to see next pagesRead More
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