Reply 1: During this course, learned a lot of important concepts like demand and supply, their relationship, the law of demand, marginal utility, demand and supply curve, negotiations, probability, market structures and time value of money, and so on.
I work as a retirement consultant with Paychex and deal with business owners, helping them understand the value of saving for retirement. The concept of the time value of money and negotiation is absolutely relatable with my work at Paychex. I usually explain the concept of compound interest and use the time value of money to help business owners understand what they will earn if they start contributing towards their own retirement. The concept of the time value of money helps them understand the future value of their present investment.
During this process, we’re basically negotiating with the client and the concept of negotiation will help me prepare better for future negotiations now. Also, it will help me achieve my goals with high profitability and the outcomes of negotiation will be much in my favor now.
Strategic decision making is key to my success and after this course, my decision-making process would definitely evolve and make my decisions more accurate, evaluating the situations and environment which will in the end help me make better strategies and execute them with higher efficiency.
Reply 2 The main theory of the firm is that it is states as it is business entities are used for the maximizing of the profits. This theory is about the ways in which there will be the marketing campaigns introduction of the newer products. Managerial economics get applied for each of these areas for the maximizing of the performance for optimal results. These business managers are seen to have different kinds of these performance for optimal results. Making of a profit is considered to be a core objective as it is about the reasonable return of these shareholders that is seen to be about making the core objectives that is about the running of the company. In this the business it needs to be about the profit and it is used for the reasonable return of these shareholders and provide funds of growth. Businesses need not be stagnant and they need to be based on the reasonable return of these shareholders equity investment and it is used for the providing of the funds for growth. These businesses are seen to remain stagnant and they need to be able to provide funds for the expansion for the offering of the benefits for the employees. These were some of my learning from the course.
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