Tag - discuss

[Q] mains answering the question with different phrases like Discuss, Critically analyse, Evaluate, Elucidate

Q. Can you clarify the meaning and approach one should follow while answering the question with different phrases like Discuss, Critically analyse, Evaluate, Elucidate etc. -Pratap Following is Copy paste from Sivaharimani’s thread on IO forum How to Write Answers The civil services main exam consists of descriptive [...]

Discuss in detail the measures you would suggest for increasing the Productivity of resources. Or Write a detailed note on increasing productivity of resources. Or How can an organization firebase the productivity of resources? Write in brief

Ans. To increase the productivity of resources means, getting more number of goods from the same amount of resources. (i) Material - Materials must be used in industries to get good productivity. Industries in which the cost of raw material is a big percentage . [...]

Classify the managerial theories of firm and discuss each in brief.

Ans. Managerial theories may be broadly classified into three categories (i) Sales revenue maximization model by Bamoul (ii) Managerial utility models (iii) Growth maximization models. (i) Bamoul's Sales Revenue Maximizing Model-The digopolistic firms aim at maximizing their sales revenue. The main reasons for this are as follows (a) Health [...]

Discuss the assumptions of break-even analysis.

Ans. The various assumptions that underline in break-even analysis are (i) It is assumed that over the entire range of volume of production all costs are perfectly variable. (ii) It is assumed that over the entire range of volume of production all costs are absolutely fixed. (iii) [...]

Discuss social and environmental cost considerations in establishing steel manufacturing plant.

Ans. There are several types of costs that a firm may consider relevant under various circumstances. Such costs include future costs, accounting costs, opportunity costs, implicit costs, fixed costs, variable costs, semi variable costs, private costs, common cost, social costs and environmental cost etc., [...]

Discuss micro-economics. How is micro-economics useful in analysing market mechanism that establish relative prices and allocation of limited resources amongst many alternative uses?

Ans. Micro-economics - The term 'micro' means small. Therefore, micro-economics deals with the economic actions of individuals and groups of individuals and firms. This can be stated in another way that microeconomics presents the economic microscopic view of the company. In the words of K.E. [...]

Define the term managerial economics and discuss its scope.

Ans. Managerial economics is the economics that is applied in decision-making. Managerial economics serves as a link between abstract theory and managerial practice. It is based on economic analysis for recognizing problems, organizing information and evaluating alternatives. Economics as a science is related with the [...]

Discuss the meaning and characteristics of managerial economics.

Ans. Managerial economics is the economics that is applied in decision-making. Managerial economics serves as a link between abstract theory and managerial practice. It is based on economic analysis for recognizing problems, organizing information and evaluating alternatives. Economics as a science is related with the [...]

Discuss the salient steps for accurate managerial economics.

Ans. Salient Steps for Accurate Managerial Economics - (i) Key issues are separated from the trivial issues so that the total situation is clarified. (ii) Available facts are organized around the key issues so that the content of the central problem before the management is defined [...]

Discuss the various stages of creative process.

Ans. There are certain identifiable stages in creative process, which may be termed as saturation, preparation, incubation, illumination and accommodation. These stages of creativity are described as follows - (i) Saturation - The most important way to get right ideas is to work on a [...]

Discuss the steps necessary in management decision-making. What are the limits of rational decision-making? Or Discuss the necessary steps in management decision-making. What are the limits of rational decision-making ?

Ans. Steps of Management Decision-making-  Decision-making is a skill which cuts across everything manna do. The decision-making process describes the elements of an organization  that accepts and processes information inputs and .transforms them useful conclusions. These conclusions help in choosing a desirable course  of [...]

What are the various techniques of decision-making ? Discuss Pros and Cons of each of them. Or Discuss in brief the various techniques of decision-making. Or Write and describe the different techniques of decision-making.

Ans. The managerial decision-making process has become very cumbersome. Certain quantitative techniques have been developed to evaluate the alternatives which facilitate making objective decisions. Some of these techniques are described as below - (i) Marginal Cost Analysis- This technique is also called marginal costing as [...]