The two most important learning and why they are important. How will you use these learning in your business and personal lives?A life lesson can be retracted from an economic class. A one decision can lead to one thing or another and thus shall be the cause of all the effects that it can do to a business or even to an individual. An unwise decision can lead a company in closure and thus would result to a lot of jobs lost. This effect would trickle down to the very dependents of each and every employee.
On the other hand, if a decision is a wise one, the fruits would be beneficial and would be able to propel a company to greater heights. Therefore, from the lessons in the class, a decision can be made with great confidence if such is based on qualitative and economical studies.
From this scenario, one of the important learning is the analysis on the basis of a decision.
Example of Markov Decision Process (MDP) transitio...
Decision Making Chart
English: Flowchart of Rational Planning and Decisi...There should be a concrete data gathering to be able to rightfully describe the present scenario. From this, we should be able to anchor our analysis to be able to derive into an intelligent decision which is also based on having a sound criteria from the beginning of a process.
This leads us to the second important learning which is to take into consideration the movements of the economic environment such as that of globalization. The faster we are in realizing the change that is happening in the world, the faster it would be that we will be able to adapt. In this sense, the company should be with the tides of the world and realize that the market is the whole world and thus we are not confined by continents and governments. Markets and businesses...