EMERGING ECONOMIES

Issues Management Control In Emerging Economies



Issues Management Control In Emerging Economies

Introduction

Costs are important to economies because of their profound effect on the standard of living. In a world faced with increased competition, decisions that determine long term costs and the management of costs are essential to providing for a viable economy. In restructuring within the EU, in countries that compete with the EU, in “transition,” and in “emerging” economies, decisions made today that influence underlying cost structures will have far reaching and long lasting implications.

The right perspectives and guidelines on certain types of costs are important to policy makers and managers. “Restructuring”, and repositioning within and across economies in the EU, bordering, and competing trade partner economies will influence the underlying economics of the future of these economies.

Discussion

The challenge and struggle to integrate European economies and trade will benefit - or suffer - from decisions that affect the long term cost structure of the production functions of restructuring, emerging, and transition economies. Indeed, in some sense the EU itself is a transition economy. How well individual as well as unions of economies will fare in a competitive environment - and the resultant standard of living - will hinge to a great part on the sound application of practical economics.

The interface of the production function with the market for goods and services is critical to supporting an economy that uses resources to fulfil human needs. Cost relationships and management in the production function are critical for the survival of an economy in a competitive environment. Emerging and transition economies (E&TEs) face daunting tasks related to the use of resources to provide need fulfilment for people. Emerging and transition economies have the challenge of using limited resources wisely and developing economies that can compete in a regional ...