Perspectives of Development of Managerial Science in the Conditions of Information Society

Vorontsova, Galina V.; Dedyukhina, Irina F.; Kosinova, Elena A.; Momotova, Oksana N.; Yakovenko, Natalya N.

doi:10.1007/978-3-319-90835-9_110

Cited by 2 publications

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References 2 publications

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“…On the one hand, it is a rational way of structural construction of the region's agrarian sector. On the other hand, it is a scientifically based approach to locate and optimally combine activities in order to obtain a synergistic effect based on a combination of production and marketing processes, rational use of natural and economic potential, minimizing costs and maximizing revenue, growing of final product competitive advantages (Vorontsova, Dedyukhina, Kosinova, Momotova, & Yakovenko, 2019).…”

Section: Methodsmentioning

confidence: 99%

Economic Condition And Development Of Dairy Farming In Agro-Industrial Integration

Kosinova¹

2019

The European Proceedings of Social and Behavioural Sciences

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Section: Methodsmentioning

confidence: 99%

Economic Condition And Development Of Dairy Farming In Agro-Industrial Integration

Kosinova¹

2019

The European Proceedings of Social and Behavioural Sciences

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Evaluation of Managerial Economics Applications Strategy using the SPSS Method

2024

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Managerial Economics is an economy branch is, this economic theory and size using methods solve real-world managerial problems. It helps businesses and organizations make informed decisions by using economic analysis. Here are some common applications of managerial economics: Demand Analysis and Forecasting: Businesses use managerial economics to understand consumer behavior and forecast future demand for their products or services. This involves studying factors that affect demand, such as price, income levels, and consumer preferences. Production and Cost Analysis: Managerial economics helps businesses optimize production processes and minimize costs. It involves analyzing production functions, cost structures, and economies of scale to determine the most efficient way to produce goods or services. Pricing Strategies: A product or the right price for the service It is up to a company to decide Crucial to profitability. Managerial economics helps businesses set prices by considering factors like production costs, competition, and consumer willingness to pay. Market Structure Analysis: Understanding the type of market, a company operates in (e.g., perfect competition, monopoly, oligopoly) is essential for making strategic decisions. Managerial economics helps analyses market structures and determine appropriate strategies for each. Risk and Uncertainty Analysis: Businesses often face uncertainty in various aspects, such as demand fluctuations, production costs, and market conditions. Managerial economics provides tools to assess and manage risks, including techniques like decision tree analysis and expected value calculations. Capital Budgeting and Investment Analysis: Managerial economics assists in evaluating investment opportunities and capital projects. It involves methods Payback period analysis of investments. Regulatory and Government Policy Analysis: Managerial economics helps businesses understand and navigate government regulations and policies that affect their operations. This can include areas like taxation, environmental regulations, and trade policies. Strategic Planning: Using economic analysis, businesses can develop long-term strategies for growth and sustainability. This may involve assessing market trends, competitive dynamics, and potential expansion opportunities. Game Theory and Competitive Strategy: Managerial economics incorporates game theory to analyze strategic interactions between competitors. It helps businesses formulate optimal strategies in competitive environments. Resource Allocation: Efficient allocation of resources, including labor, capital, and technology, is crucial for a company's success. Managerial economics provides tools to distribute funds in a manner that optimisesoverall productivity and profitability. Demand Analysis and Forecasting, Production and Cost Analysis, Pricing Strategies, Market Structure Analysis, Risk and Uncertainty Analysis, Capital Budgeting and Investment Analysis and Regulatory and Government Policy Analysis. The Cranach’s Alpha Reliability result. The overall Cranach’s Alpha value for the model is .744 which indicates 74% reliability. From the literature review, the above 50% Cranach’s Alpha value model can be considered for analysis.

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Perspectives of Development of Managerial Science in the Conditions of Information Society

Cited by 2 publications

References 2 publications

Economic Condition And Development Of Dairy Farming In Agro-Industrial Integration

Economic Condition And Development Of Dairy Farming In Agro-Industrial Integration

Evaluation of Managerial Economics Applications Strategy using the SPSS Method

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