Application of Managerial Economics in Business Management

Abstract

Against the backdrop of increasing market demand uncertainty, increasingly fierce competition, difficulty in cost control, and lack of scientific decision-making tools, enterprises need guidance from management economics. This study is based on the basic theoretical framework of management economics, analyzing the core challenges faced by enterprises in operational management at present, and proposing a series of practical strategies, including market demand forecasting and analysis, deployment of differentiated competitive strategies, cost reduction through economies of scale, and integration of digital means. The study also looks forward to the development trends of management economics, including the deepening application of big data and artificial intelligence technology, and the cross-border integration of management, behavioral economics, and psychology. Research has found that the rational application of management economics can help companies optimize their selection process, enhance market competitiveness and operational efficiency, and open up new paths for their sustainable development.