Weekly Reflection

I was convenient with this weeks topic. Currently working in a Business Process Outsourcing (BOP) unit, scotch live concepts are part of my daily routine. Applying economic follow concepts is important to my Fortune 500 Company and the clients we serve. Forecasting and toll analysis is some other critical part of my business for both process Improvement and staffing. awkward Topics I did non quite get the economic cost concepts relating to equilibrium, simply after further discussion with team members the comparison was understandable on how companies apply the essential and pricing of economic concepts In business sessions.Team members provided an bill of Wall-Mart rollback pricing, and school tax-exempt weekend. This enabled me to discernment the concept. Consequently, In my opinion, applying economic cost concepts In devising business decisions Is imperative for an organization at heart the company. In addition, the following factors are vital in decision-making pe rtaining to economic cost within a business profit, capital, pricing, demand, forecasting, and cost analysis. Application In the Workplace As veterans, we can relate to how economic costs affect the military.In particular, deiced cost for restless duty, retired, and disabled military members. For example, the military passs Injured members dillydally and aesculapian expenses however, the pay Is at the present rate of medical expenses but does not contract Into account early payments at a higher cost. The military may consider reducing the cost of future pay, the variance Involving dillydally pay, and the members future earnings. Conclusion In conclusion, Team Bis discussion of the week two objectives was implemental In disposition the material for the week.The objectives for week two Include Identifying take level to maximise profits, explaining balancing fixed and variable costs, and applying economic cost concepts In making business decisions. By tripping another vital p art of my business for both process improvement and staffing. Companies apply the demand and pricing of economic concepts in business school tax-exempt weekend. This enabled me to grasp the concept. Consequently, in my opinion, applying economic cost concepts in making business decisions is capital, pricing, demand, forecasting, and cost analysis.Application in the Workplace he military pays injured members disability and medical expenses however, the pay is at the present rate of medical expenses but does not take into account future the variance involving disability pay, and the members future earnings. In conclusion, Team Bis discussion of the week two objectives was helpful in understanding the material for the week. The objectives for week two include identifying production level to maximize profits, explaining balancing fixed and variable costs, and applying economic cost concepts in making business decisions.