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Professionals:
Professionals, like medical and legal practitioners, need information to pursue their vocations. The physicians cannot afford to ignore new developments in the medical sciences. Theft ignorance would be fatal to the patients. Similarly, legal practitioners must keep in touch with the case law and judicial verdicts to ensure fair justice. Judgeneed access to earlier verdicts or case precedents before pronouncing judgments. Engineers and technologists need information for solving technical snags faced by them on the shop floor. Managers (or executives) in business and industrial organisations need information toenable them to take appropriate decisions relating to issues having both short-term and long-term implications. They need more information for taking decisions involving managerial issues.
Total Marks – 40 (Note: The information for this question is based on the material contained in Hopkins, Andrew (1999) Managing major hazards: the lessons of the Moura Mine Disast
why is it important for managers to understand macro economics
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