Executive Economics: Ten Tools for Business Decision Makers: Shlomo Maital
From Publishers Weekly
Maital (Economic Games People Play) here confronts a major problem with the discipline of economics: business managers are often skeptical about what the dismal science has to offer the “real world.” The author claims that economics can be of considerable value to managers if concepts are conveyed in understandable terms and in a way that is relevant to managers’ experiences and needs. In answer to two basic questions-”What is it worth? What do I give up to get it?”-Maital demonstrates how concepts of economics like costs, value, price, inefficiency, productivity, information and comparative advantage can be utilized by general managers if presented in plain English unhampered by convoluted mathematical models. His homilies-”Good executives create customers. Great ones create markets”-make sense. Illustrations.
Copyright 1994 Reed Business Information, Inc.
From Booklist
Maital gives us a practical book that illustrates how the economic way of thinking and analyzing can be employed to help clarify business decisions. Although countless other texts at least attempt and often do accomplish that, Maital’s volume explains how to utilize modern economics as a decision-making science tool in a very simple way, that is, with little mathematics and academic jargon. The book explains 10 basic principles that organizations can use to understand costs and benefits and make appropriate decisions based on two straightforward questions: what is it worth? and what must be given up to get it? The 10 chapters make use of company examples and address such issues as cost, trade-offs, volume, competitive advantage, learning curves, risks, markets and demand, scale and scope, and break-even analysis. The final chapter discusses the necessity of “competing by cooperating” and summarizes the 10 tools. Executive Economics is written for the business executives who want to grasp the relationships between cost, price, and value and to see how to orchestrate these most basic concepts to enhance their company’s success. Advanced business students and academics should also find it worthwhile. Joseph Leonard
Order Executive Economics: Ten Tools for Business Decision Makers: Shlomo Maital form Amazon.
