Application of Managerial Economics in Decision Making Essay Examples

making as to what was the best for them. Whole Foods believed it had a responsibility to shareholders, producer communities, customers, suppliers, and everybody that was part of their business. The employees had to be highly motivated and with the desire to always do more than was required to realize the level of customer satisfaction needed by the company. The company built its business on teams, with each of its store having around eight to ten teams from departments such as prepared foods, meat and produce (Burkus Npag). There are also other teams that go up to the top of the chain of command. The Whole Foods may, therefore, be said to have forged a strong sense of community that was key to the...

making strengthens employees. Decision-making enhancement makes them feel they are of great importance in the change initiative. Ways of Motivating Employees Employees’ growth entails increasing their skills and building expertise. Employees are motivated by management that enhances their ability to acquire new skills. An employee feels motivated when change management emphasizes more on the outcome rather than process. Prompting change should be less of the process but attach meaning to the value or result of the process. Senior leaders should model change initiatives for the employees. Employees get more engaged in change actions if their top leaders are actively involved in them (Change...

making (Hersey, Blanchard & Johnson, 2013). They are required to strictly submit to the organization's rules and regulations without any complaints regardless of how tough they may be. An example of this theory is the feasible leadership Theory. The theory dictates its subject and does not provide any room for questioning. From its maxims and elements, it is notable that Theory X aligns with Biblical concepts. For instance, the Bible concurs with the theory in the way it provides laws such as “Honour your father and mother so that your days may be long” (Tyndale House Publishers, 2004). To be followed by humanity. This is evidently seen in how McGregor shows that the theory highlights that...

making. Principles of Leadership The development of an individual into an effective law enforcement chief is a process of continued learning, a career-long expedition involving learning from others as well as self-discovery. Leadership entails suppressing personal welfare to the greater good of others by mentoring, promoting, developing and serving others as well as meeting organizational goals including combating crime and public protection. Being a manager or a supervisor involves more than merely holding the title in which these individuals hold various responsibilities that need unrelenting attempts to proactively improve themselves as well as build, motivate, train, and inspire the...

Making The information provided is important for the company in decision making such as dividend policy, improving company efficiency, improving debt levels and improving profitability. Company’s performance The company is struggling to post positive profits as the net income is negative over year 2015 and 2016 but is improving its profitability position into the future as seen from the profitability ratios. The liquidity of the firm is reducing into the future as seen from the liquidity ratios whereas the debt position is improving though debt level is increasing into the future as ability to pay debts increases. Recommendations The company needs to increase its profitability by increasing...

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making, especially where one needs to make crucial decisions. Therefore being a great steering wheel into critical and important decisions. Further, it improves focus; hence for students and teens, it is an essential tool in their studies as well as in their profession in the future. Well, in short, a person who controls their anger and manages their self-control has a better chance of becoming successful in life, this is because they can make critical life decisions when called upon and are ever vigilant not to make anger mess things up for them. Teen years are critical to the growth and development of any person. It is here that critical behaviors are born or nurtured, hence inculcating the right...

making processes, level of contribution, and satisfaction in manipulating the followers. The type of approach employed by the leader affects these aspects. Additionally, the paper also discusses some of the characteristics that leaders possess that may influence their followers. These characteristics include charisma and inspirational influence. The paper highlights the way in which these qualities play a role in promoting productivity or satisfaction among other individuals. Further, the paper briefly highlights how these qualities benefit the leader in influencing their followers positively.   How Leaders Influence Followers Leaders have the power to manipulate their followers in different...

making, customers are rarely consulted. Talent development; Organizations are encouraged to continuously identify and develop talent in their workforce (Cummings & Worley, 2014). This has been applied by training employees on various skills such as teamwork and communication. Most institutions hold regular training seminars. Organizational development theory is a field of study that has workable strategies. Healthcare organizations can adopt the ideas to increase their performance. These institutions should give more attention to organizational development. References Boss, R. W. (1989). Organization development in health care. Addison-Wesley Longman. Cummings, T. G., & Worley, C. G....

making on the management and running of the company. Through conducting a comprehensive financial statements analysis, the viability, profitability and the stability of a company can be assessed. A company may also conduct financial statements analysis to understand its competitors. The Polaris Industries Inc. is an American company based in Minnesota, and its main business activities are the manufacture of snowmobiles, neighborhood electric vehicles, and ATV. The financial statements analysis of this company will be used to determine its market position and creditworthiness. Financial analysis As seen in the analysis of the income statement, both in the vertical and horizontal analysis, a trend...