LINE MANAGERS DIVERSITY MANAGEMENT

Line Managers Diversity Management

Line Managers Diversity Management

This paper discusses the macroeconomics and its usage by the business line manager in his or her everyday business decision-making processes. It looks at how macroeconomics affects a line manager's everyday job and what decisions they must make to overcome any obstacles with regard to macroeconomics. The different aspects of macro economy and the macroeconomic indicators such as the opportunity cost, marginal benefit, marginal cost, interest rates, GDP, Federal Reserve Policy, etc. have also been discussed in the light of the necessary decisions to be taken by the line manager. One thing is clear that the broader decisions of a business depending upon the sectoral growth are more involved with the macroeconomic conditions prevalent in the country and in general across the world (Kanter 2003 101-104).

With the passage of time and globalization, there are many more countries and businesses being affected by conditions such as war, famine, etc happenning across the globe.

The decisions pertaining to the specific company such as the choice of raw material, suppliers etc are more concerned and helped out by microeconomics. In recent years the world economy has been undergoing drastic changes, the East Asian miracle, the financial crisis, and today, globalization and the fundamental changes associated with the "new economy". This book integrates these developments with macroeconomics for business line managers and policymakers.

Macroeconomics is the study of how the economy as a whole performs over time. It focuses upon economic aggregates such as: real output, employment, unemployment, inflation, wage levels, and interest rates. These aggregates are of importance to all of us in both our private and public lives. It discusses and gives insights on how economic aggregates change over time such as economic growth and fluctuations. Output of a country is measured by real Gross Domestic Product as of the second quarter, 2002; this amounted to $10,371 billion (Benibo 2007 28-32). More important for an international line manager or even for the one managing domestic business are the economic fluctuations. Matters such as the changes in growth of Real GDP, business cycles, wars, famine, policy issue changes in fiscal or monetary are important to be noted and followed constantly by the line manager.

In today's modern world and ever more intertwined businesses and complex nature of global impacts of economies, the knowledge of macroeconomics is essential background for the business line manager and policymaker. ...