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Why Study It, If Your Not Going To Use It !!!!

Why Study It, If Your Not Going To Use It !!!!

Why Study It, If Your Not Going To Use It !!!!

This is a serious question that each and everyone of us should ask themselves, What did you do with your bachelors degree? How did you use all the knowledge you gained from your professors? Well if ask me I don’t think it should go to waste, Here is one endless dream: Once upon a time I was a student attending Business School and wondering when it will end so I could start my career as a business consultant and have all the money in the world, pause that dream for one second… Did you know that your dream to be successful is not only yours but a million others around you, so now instead of continuing that dream we are about to adjust it…

Once upon a time I was a student attending Business School who made notes of the classes I took to use them later on in pursuing my business career, the first subject I took was Micro-Economics which is the study of how societies make more with less to produce valuable resources to distribute products different types of people. Lets brain storm together why study Micro-Economics maybe… because it helps us save money from our earnings to invest in our lives, people in some countries are seem illiterate to the laws of supply and demand, what else could be a possible reason for you to study economics maybe because technology has become an important role in life it has shaped our entire universe, or perhaps because without economics we wouldn’t understand the cause and effect relation between inflation and employment or any other major factors out there.

You could brain storm all day long with economics, its one of the broadest subjects out there its main purpose is to feed the minds of different ideology which means that each one of us has a different perspective to how they want to run their business or company which is understandable because mankind is born differently but there are things out there that act like a changeable variable in our algebra equation, such as resources, prices, people, tastes, or thoughts etc…

There are also constant variables in this equation as well, there are two ideas in economics that will always be there to haunt us no matter how far technology goes or how much people change, something just have to remain the same, and these to thoughts haven’t changed since economics was discovered by the Greek Ancestors, the first is there are some people who see the world from the resource point of view meaning that when resources are scarce the society should use them efficiently till they find away to redeem more resources. The second are the people who see the world from the people’s point of view meaning the people’s demand is so high leading the scarcity of resources, so people should reduce their demand level to apply with countries limited resources.

Those are some good notes you took up there, if you try doing that for each class you took or chapter you read just think where would you be right now, probably climbing up the worlds largest success ladder.

The Signs That Lead To Change

The Signs That Lead To Change

The Signs That Lead To Change

Do you ever get this feeling like you have a hunch on something and you want to explore more of it to make sure that your following the right track, or your just trying to figure out where it will take you sort of investigate, well the number one aspect to check out is how deep your understanding of the firm’s incentives. What are incentives you ask they play the most important role in your business/firm because they answer two main questions:

– how resources are utilized
– how hard individuals work

If you construct proper incentives that will help you enhance productivity and profitability, because its your firm’s base which should be done properly with the best managerial help. This usually provides profit signals it helps managers make a forecast for themselves, that if your product is expensive then it should fall in the highly valued society category which could help more and more industries start flowing in to that society.

As a manager who directs resources and designs incentive schemes you should be aware that there are many types of different profits such as Accounting profit it is considered the explicit cost of resources needed to produce goods and services which is the difference between sales and product cost which are always reported in the firm’s income statement,Economic profit which is the difference between revenues and opportunity cost, and by common sense opportunity cost is the cost of implicit and explicit resources that are foregone when a decision is made.

Managers have a very hard time drawing up economical perspectives such making goals depending on the countries economic status by trying to figure out what is available and what isn’t which is so confusing that’s where the science of managerial economics comes in, to be good at such a field you have so many preparations to make because managerial economics in brief is the study of how managers can achieve goals under a given set of constraints.

The majority of managerial positions is they always make the same mistake they look at the worldwide forecast hoping to change something in there strategy to fit with that when they could just make simple identifications of goals and constraints, to the types of decisions made in economics are sound decision meaning based on what you hear to decide upon what to maximize and minimize which always leads to making the right decisions, the other type is strive decision based upon ambition and willingness to achieve a goal , even when facing measure scarcity constraints.

Put in mind that Economics is used in every little inch in our lives and that you should try and tie with all the things you know because a business is nothing without a manger and definitely managerial economics.