-
Essay / Role of Managerial Economics - 1225
At first glance, one could say that these methodologies are universal and can be applied to any type of institution. Yet, when looking at an organization that is not a for-profit business, how would these methods apply? An example of this is the army and/or city hall, in any city. Neither organization is yet designed to make a profit, both institutions play a major role in how different manufacturers and companies tailor their products to meet the institutional needs of those organizations.