Why Do Managers Need to Understand How Economic Events Affect

question 58

Essay

Why do managers need to understand how economic events affect the financial statements?

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Definitions:

Alignment Strategy

Alignment strategy refers to the process of ensuring that the goals, processes, and activities of an organization are in sync to achieve its overall objectives.

Performance Metrics

Quantitative and qualitative measures used to evaluate the effectiveness, efficiency, and success of an individual's, team's, or organization's activities.

Organizational Behaviour

The study of how individuals and groups act within an organization, focusing on improving job performance and promoting innovation.

Analytics

Analytics involves the systematic computational analysis of data or statistics, used for the discovery, interpretation, and communication of meaningful patterns in data.