Weekly Reflection

I was comfortable with this weeks topic. Currently working in a Business surgical operation Outsourcing (BOP) unit, frugalal speak to concepts are part of my daily routine. Applying economic cost concepts is crucial to my Fortune euchre Company and the clients we serve. Forecasting and cost analysis is another resilient part of my business for both exploit Improvement and staffing. Difficult Topics I did not quite get the economic cost concepts relating to equilibrium, solely by and by further interchange with team members the comparison was understandable on how companies carry the demand and pricing of economic concepts In business sessions.Team members provided an explanation of Wall-Mart rollback pricing, and school tax-exempt weekend. This enabled me to grasp the concept. Consequently, In my opinion, applying economic cost concepts In making business decisions Is imperative for an organization within the company. In addition, the following factors are vital in decisio n-making pertaining 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 phalanx.In particular, deiced cost for active duty, retired, and disabled military members. For example, the military pays Injured members dillydally and medical expenses however, the pay Is at the present rate of medical expenses but does not keep back Into account future payments at a higher cost. The military may carry 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 deuce objectives was helpful In understanding the material for the week.The objectives for week two Include Identifying turnout level to maximise profits, explaining balancing fixed and variable costs, and applying economic cost concepts In making business decisions. By tripping another vital part 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 wound 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.