Question

In management, how important is it to learn to use mathematics to solve problems? How valuable...

In management, how important is it to learn to use mathematics to solve problems? How valuable is an MBA degree without the ability to identify and calculate the cost of a company's capital, its return on investment, gross margin percentage, break-even point, or what percent of a population would be willing to buy its product?

Business   Operations-Management   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

In management, it is very important to use mathematics to solve problems. Mathematic calculations help quantify the problem and solution available. It gives real numbers to management and problem achieving which can help organization meets goal.

If an individual has knowledge of financial calculations apart from the MBA degree, it gives an individual perspective of small intricacies. It helps appreciate the significance of the values used to calculate these ratios. If an individual with MBA degree do not have ability to calculate those ratios, still he can analyze the financial statements, formulas and ratios but will not able to fully understand the complexities and significance of those formulas.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Use Microsoft Excel to solve the problems and answer the question. Show step by step solution...
Use Microsoft Excel to solve the problems and answer the question. Show step by step solution Q1) RANIS Enterprise Solutions is the provider of hosted customer relationship management (CRM) solutions for Small to Medium Enterprises (SMEs). The headquarters are in Toronto, ON, and they have clients across the globe. Currently, they are charging a $500 monthly fee for their CRM services that they offer to 300 of their clients. They have recently been contacted by their software vendor and been...
1. Discuss why financial markets are important to a healthy economy and how they contribute to...
1. Discuss why financial markets are important to a healthy economy and how they contribute to economic growth. 2. Assume that you recently graduated with a degree in finance and have just reported to work as an investment adviser at the brokerage firm of Smyth Barry & Co. Your first assignment is to explain the nature of the U.S. financial markets to Michelle Varga, a professional tennis player who recently came to the United States from Mexico. Varga is a...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income Statement For planning and control purposes, managers have a powerful tool known as cost-volume-profit (CVP) analysis. CVP analysis shows how revenues, expenses, and profits behave as volume changes, which helps identify problems and create solutions. In CVP analysis, costs are classified according to behavior: variable or fixed, rather than by category: product (which includes both variable and fixed) or period (which includes both variable...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income...
Mastery Problem: CVP Analysis - Constructing a Cost-Volume-Profit Chart CVP Analysis and the Contribution Margin Income Statement For planning and control purposes, managers have a powerful tool known as cost-volume-profit (CVP) analysis. CVP analysis shows how revenues, expenses, and profits behave as volume changes, which helps identify problems and create solutions. In CVP analysis, costs are classified according to behavior: variable or fixed, rather than by category: product (which includes both variable and fixed) or period (which includes both variable...
Read the case study. Identify three (3) problems and recommendations to solve the problems. Each problem...
Read the case study. Identify three (3) problems and recommendations to solve the problems. Each problem will require a justified recommended solution at least a page each. Zappos CEO Asks Employees to Commit to Teal, or Leave Zappos had modest beginnings. In 1999, shoesite.com was started by Nick Swinmurn to capture online shoe sales. Swinmurn reached out to Tony Hsieh (pronounced “shay”) and Alfred Lin, who were running Venture Frogs, a kind of venture capital group, for advice and funding....
1-How important do you believe it is to be task-oriented and relationship-orientated? How would you describe...
1-How important do you believe it is to be task-oriented and relationship-orientated? How would you describe Musk? 2-Why do you think Musk is successful in overcoming obstacles and handling conflict? How do you overcome obstacles in influencing individuals in your life? 3-Besides the personality traits given in chapter 2, what other traits attribute to a great leader? Recognizing Your Traits The definition of intelligence is the ability to acquire and apply knowledge and skills. Elon Musk knew little about rockets...
Repackaging a Global Brand: A Case Study Analyzing the Capital Expenditure Decision INTRODUCTION It is early...
Repackaging a Global Brand: A Case Study Analyzing the Capital Expenditure Decision INTRODUCTION It is early 2014. A leading global skincare manufacturer, Health & Beauty Co. (HBC), has been losing market share in the hand and body lotion market. While the firm still leads its competitors in market share in this segment of personal care, it seeks to stem further share erosion and, to that end, has recently developed a strategy to recover market share through rebranding, advertising, and repackaging....
1.Establishing the virtual Management: As known, managing virtual staff requires a different method or approach than...
1.Establishing the virtual Management: As known, managing virtual staff requires a different method or approach than managing local staff. Due to that reason, Golden Scent has developed a strategic plan to successfully manage its virtual staff in the USA. Identify the suitable manager. to make sure our work will proceed as we planned, Golden Scent willrecruit a virtual manager with the essential skills and knowledge required to manage virtual employees. Find the skilled people to work with. Since not everyone...
The Business Case for Agility “The battle is not always to the strongest, nor the race...
The Business Case for Agility “The battle is not always to the strongest, nor the race to the swiftest, but that’s the way to bet ’em!”  —C. Morgan Cofer In This Chapter This chapter discusses the business case for Agility, presenting six benefits for teams and the enterprise. It also describes a financial model that shows why incremental development works. Takeaways Agility is not just about the team. There are product-management, project-management, and technical issues beyond the team’s control. Lean-Agile provides...
Can I have your opinion on this research and possible correction? The global economy and government’s...
Can I have your opinion on this research and possible correction? The global economy and government’s ability to control its country’s currency. Definition of terms Global economy is an economic interdependence established between the most influential countries that drives the worldwide economic environment. It is also the aggregate economic output, movement and influence of all countries. (My Accounting course). Currency is the medium of exchange for goods and services. In short, its money, in the form of paper or coins,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT