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Rashid , a fresh MBA graduate has recently joined a small firm that manufactures and markets curtain rods known as traverse rods, recently company has decide to open another business which deals with manufacturing of aluminum grill and doors .
Rashid supervisor asked him to prepare a report mentioning the different objectives for the new firm
Guidelines: in the report include firm’s different objective like profit maximization, sales maximization & revenue maximization etc.

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Describe economic models and theory. How these models help the economists to make different judgments about what is needed to explain their interpretations of reality.
Question -3

Slowdowns and booms in the global economy affect business firms either negatively or positively. The recent slowdown in global and Indian economy has forced many Indian companies to revise their revenue outlook for the current as well as the coming fiscal year. The impact of the global turmoil has hit export oriented firms hardest in spite of the difficult business conditions investors in Indian firms are expecting the firms managers to achieve good returns on investment by taking prudent decisions
Explain how mangers take decision under turbulent conditions (risk and uncertainty) which lead to better utilization of resources
Guidelines: How decision analysis tool helps the manager under risk and uncertainty to take decisions
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