By James R. McGuigan, R. Charles Moyer, Frederick H. deB. Harris
Filled with strong examples from genuine managers, MANAGERIAL ECONOMICS, 12e teaches you the way to imagine analytically -- and make higher enterprise judgements. Written via a pro and well-respected writer group, Managerial Economics equips readers with the industrial instruments to prevent analytic pitfalls and develop into more desirable managers. Drawing from greater than three hundred real-world purposes, the authors illustrate how genuine managers observe fiscal theories and strategies to resolve actual company difficulties. present, complete, and leading edge, this re-creation comprises broad insurance of the most recent analytical instruments in managerial economics, together with game-theoretic strategies, details economics, and organizational structure. It additionally bargains unheard of assurance of "green" companies and enterprise advancements making the most of environmentally-friendly practices and product wishes. The textual content caters to various studying kinds because it provides key analytical techniques in numerous methods, together with tabular research, graphical research, and algebraic research. scholars examine in a structure with which they're cozy, making tricky fabric extra obtainable and more straightforward to appreciate.
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Additional resources for By James R. McGuigan Managerial Economics: Applications, Strategy and Tactics (12th Edition)
There is a sudden drop in the expected future rate of inflation. g. A new, labor-saving machine is purchased by Wonder Bread and results in the layoff of 300 employees. Case Exercises DESIGNING A MANAGERIAL INCENTIVES CONTRACT Specific Electric Co. asks you to implement a pay-for-performance incentive contract for its new CEO. The CEO can either work really hard with a personal opportunity cost of $200,000 in reduced personal entrepreneurship and increased stress-related health care costs or she can reduce her effort, thereby avoiding the personal costs.
8 percent of companies pursue the scenario planning and contingency analysis that underlies real option valuation. 4 percent of companies formally calculate the value of their embedded real options. That suggests an opportunity for recently trained managers to introduce these new techniques of capital budgeting to improve stockholder value. Southern Company found its embedded real option from fuel switching technology was worth more than $45 million. 14 Based on P. Ryan and G. ” Journal of Business and Management (Fall 2002).
In an effort to identify the share price that should trigger a bonus, the payment for the CEO, and maximize shareholder value, how much would you, the Compensation Committee, be willing to pay an auditor to examine the expense and revenue flows in real time and deliver perfect forecasting information about the “luck” the firm is experiencing? Compare shareholder value with this perfect information relative to the best choice among the cash bonus plans in Questions 2, 3, and 4. 6. Design a stock option-based incentive plan to elicit high effort.