#Collaborativearticles - 46 - You're tasked with allocating resources. How do you weigh economic factors in your decision-making process?

Character Limit: 750

Section: Economics

Economics is all about managing unlimited wants with limited means through rationalisation of resources. Begin with analysing macroeconomic factors affecting your decision areas. Assess the industry/sector trends, demand factors and the regulatory & policy governing the domain. Now consider the micro endogenous factors by efficiently utilising the resources & effectively managing costs without compromising quality. The investment in human capital, technological integration, sustainability will further help the cause. Carry out scenario analysis, data driven insights, opportunity costs analysis, to manage stakeholder expectations. Thus, balancing these economic factors will result in optimal returns, ?ensuring both short & long term success.

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Section:

https://www.dhirubhai.net/pulse/topics/financial-management-s32864/economics-s635/