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Can managers still rely on the concepts and analytical frameworks of micro-economics?

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  1. External Analysis
    1. Environmental Analysis
    2. Market Segmentation
    3. Overview of competitors
    4. The sectoral analysis
    5. Decathlon Customer
    6. Catchment area
    7. Synthesis of external analysis
  2. Internal Analysis
    1. The questionnaire
    2. Analysis of strengths
    3. Analysis of weaknesses
  3. Strategic recommendations
    1. Issues and Risks
    2. Problematics
    3. Marketing objectives
    4. Target communication
    5. Communication message
    6. Means of communication
  4. Measure of the Outcome

The development of mergers and acquisitions, outsourcing of activities shows that the nature, content and boundaries of the enterprise are increasingly volatile and complex. For a long time, micro-economics was often equated with the economic analysis of the company thought and the behavior of the company as a technical controller powered by single logical profit maximization, i.e. the optimal use of machines and men to obtain the greatest benefit.

This is the model of the "black box" model that considers the company is an organization whose sole summary rationality is purely technical. This simple and uniform model can, with difficulty, give an account of the complex rationalities and technique of the company associating today, and its organizational and social system.

Can managers rely on the traditional microeconomic theory? What is the nature and magnitude of these flows to reach the decision and to understand the reality of the business? How should you change the problems of the company to inform practice managers?

The corpus of theoretical microeconomics provides a set of traditional concepts and analytical frameworks that influence or inspire practitioners, but it does not incorporate the company as such (problematic). If the traditional micro-economics is an implicit reference that is constant for managers, it must be overcome to better take into account the organizational dimension of the business (plan).

The traditional microeconomics provides concepts and analysis to better understand the problems of business management. The micro-economy is often equated with the economic analysis of the company. The black box principle proposed by the classical past was gradually to reach a true scientific analysis of production processes. It remains the dominant mobile and is the maximization of profit and that rationality is purely technical.

The traditional economic analysis assumes that the firm is a decision center for production. It identifies the person responsible for making decisions; it is most often referred to as the producer. Its behavior is guided by a principle of rationality. Thus, the producer aims to achieve the highest profit possible in a given environment and perceived identically by all stakeholders.

The company is seen as a simple production function which has the purpose, from a given technology to transform inputs into goods and services it sells on the market. A production function (which can take many different mathematical forms) connects one side inputs used (labor and capital) and other production levels obtained. These factors have a productivity that can be enjoyed by assuming that one of them constant while increasing the amount of the other.

Tags: micro economics, black box model in economics, analytical frameworks of micro economics

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