The Complete Idiot's Guide to MBA Basics, 3rd Edition

Part 2

Making Decisions About Resources and Operations

Much of a manager’s work comes down to making decisions. Most of these decisions have to do with how the company’s resources are allocated to various operations. These decisions can range from small ones, such as whether a restaurant should schedule two or three cooks for Thursday evening, to large ones, such as whether a natural gas company should build a pipeline across Canada.

 

Management decisions occur in the context of the larger economy—specifically, the economic cycle of expansion and recession, known as the business cycle. The business cycle affects virtually every business. Therefore, Part 2 begins by explaining how the business cycle operates and how to read economic indicators ...