Effect of Unemployment and Inflation on Management
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1. What role do the measurements of unemployment and inflation have on the management of an organization?
2. What analyses might a manager do to learn more about a specific industry? Please provide at least three examples.
3. What role does trade have pertinent to how an organization plans strategically?
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Solution Summary
The solution is given in 428 words explaining the role of unemployment, inflation and trade on management and strategy as well as outlining 3 ways a manager can learn more about a specific industry.
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1. What role do the measurements of unemployment and inflation have on the management of an organization?
Measurements of unemployment and inflation tells an organization what it should be doing to strategically price their products, and also acts as a means to control costs. The unemployment and inflation rates also indicate to an organization if they should consider increasing or decreasing hourly wage rates in an attempt to attract new employees. By evaluating the unemployment and inflation information in the current market, the company can also decide if whether or not the company should be acting to cut costs while remaining to compete ...
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