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
How do companies determine their value chain? At what point(s) does management define the value chain...
How do companies determine their value chain? At what point(s) does management define the value chain for a product/service? What value does a value chain provide for decision making? Cost-volume-profit may be one of the most valuable assessment tools available to management. Discuss why CVP is so important and provide a real life example you may have been involved in or find of interest as far as break-even for a product/service.
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...
Cost Structures for Global Shippers Inc. Management from Global Shippers Inc, an international shipping business, is...
Cost Structures for Global Shippers Inc. Management from Global Shippers Inc, an international shipping business, is in the process of assessing the choice between two different cost structures for the business. Option A has relatively higher variable costs per unit shipped but lower annual fixed costs, while Option B has the opposite—relatively lower variable costs in its cost structure but higher fixed costs. Assume that delivery selling prices per unit are constant. The table below contains critical information in making...
Vice President for Sales and Marketing Sam Totter is trying to plan for the coming year...
Vice President for Sales and Marketing Sam Totter is trying to plan for the coming year in terms of production needs to meet the sales demand. He is also trying to determine ways in which the company’s profits might be increased in the coming year. Instructions : Northern Illinois Manufacturing markets a simple water control and timer that it mass-produces. During last year, the company sold 701,000 units at an average selling price of 4.20 per unit. The variable expenses...
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...
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...
Morton Company’s contribution format income statement for last month is given below: Sales (15,000 units ×...
Morton Company’s contribution format income statement for last month is given below: Sales (15,000 units × $30 per unit) $ 450,000 Variable expenses 315,000 Contribution margin 135,000 Fixed expenses 90,000 Net operating income $ 45,000 The industry in which Morton Company operates is quite sensitive to cyclical movements in the economy. Thus, profits vary considerably from year to year according to general economic conditions. The company has a large amount of unused capacity and is studying ways of improving profits....
Below are the results from my Leisure Interest Assesment. My degree is in Human Resources Management....
Below are the results from my Leisure Interest Assesment. My degree is in Human Resources Management. IMPORTANT ...........................From the results, explain in a paragraph using complete sentences how these will tie into or play a part my career in the Human Resources Department. The top three were Correct: "The Organizers"  (Score was 100%) Like to be involved in activities that follow set procedures and routines. Like to work with data and details, have clerical or numerical ability, and carry out tasks...
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....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT