Economic Factors That Influence Manager Decision Essay

Economic Factors That Influence Manager Decision - Essay utilisationAs the paper explores it is important to understand that economic factors refer to the changes that take place in apostrophize and prices of commodities, the exchange rates, inflation rate, and interest rates among others. In simple terms, they hamper the ability of an organization to fetch sugar thus often require to be monitored closely.According to the report findings organizations go through at their budgets in the lead setting out to start a project. This is because it will be able to give them an overview of the finances they work to carry out the project. However, there have been instances where organizations did not look at the resources they have due to improvident vision. Most of these leaders were driven by the interests that had been forecast if the project succeeds but did not want to look on the other side of what happens to the organization when the project fails. Take the case of Apple Inc in the mid-nineties when it was on the brink of bankruptcy because of the decisions that were being made by the management. It forced the board of members to employ patronage Steve Jobs who had parted ways with the organization. Therefore, this is just but an illustration of the importance of an organization working within its budgets in relation to the resources available. The aim of any business entity is to make profits, and if this does not take place, then there is no need of operating because it will esteem that losses will be frequently incurred. This does not mean that the organization forgets there is a need to have a balance between maximization of profits and minimization of costs