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Pliny's Panegyricus model is familiar to the authors of panegyrics 5, 6, 7, [18] 11, and especially 10, in which there are several verbal likenesses. Sallust's Bellum Catilinae is echoed in the panegyrics 10 and 12, and his Jugurthine War in 6, 5, and 12. [19] Livy seems to have been of some use in panegyric 12 [20] and Panegyric 8. [21]
Managerial economics aims to provide the tools and techniques to make informed decisions to maximize the profits and minimize the losses of a firm. [4] Managerial economics has use in many different business applications, although the most common focus areas are related to the risk, pricing, production and capital decisions a manager makes. [31]
Thus, they can be used as a tool to help management make better informed decisions regarding production and profit dilemmas, such as cost or waste minimization, and revenue and output maximization. A firm can determine the least cost combination of inputs to produce a given output, by combining isocost curves and isoquants, and adhering to ...
A decision support system (DSS) is an information system that supports business or organizational decision-making activities. DSSs serve the management, operations and planning levels of an organization (usually mid and higher management) and help people make decisions about problems that may be rapidly changing and not easily specified in advance—i.e., unstructured and semi-structured ...
Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [3]
An optimal decision is a decision that leads to at least as good a known or expected outcome as all other available decision options. It is an important concept in decision theory.
Such utility functions are also called von Neumann–Morgenstern (vNM). This is a central theme of the expected utility hypothesis in which an individual chooses not the highest expected value but rather the highest expected utility. The expected utility-maximizing individual makes decisions rationally based on the theory's axioms.
Up to a certain point, the use of debt (such as bonds or bank loans) in a company's capital structure is beneficial. When debt is a portion of a firm's capital structure, it permits the company to achieve greater earnings per share than would be possible by issuing equity. This is because the interest paid by the firm on the debt is tax-deductible.