Consider economic criteria in decision making

Develop proposals and take appropriate decisions taking into account economic criteria.

take decisions considering economic criteria
consider economic factors in decision making
assess economic factors in proposal development
make decisions considering economic criteria
incorporate economic considerations into decision making
analyse economic impacts in decision making
include economic considerations in decision making
make decisions considering economic factors

skill/competence

cross-sector

Consider economic criteria in decision making is an essential skill of the following occupations:

Butcher: Butchers order, inspect and buy meat to prepare it and sell it as consumable meat products. They perform activities such as cutting, trimming, boning, tying, and grinding beef, pork, and poultry meat. They prepare those mentioned sorts of meat for consumption.

Economic policy officer: Economic policy officers develop economic strategies. They monitor aspects of economics such as competitiveness, innovation and trade. Economic policy officers contribute to the development of economic policies, projects and programs. They research, analyse and assess public policy problems and recommend appropriate actions.
Airport chief executive: Airport chief executives lead a group of airport directors who are responsible for all areas of the airport. They envision and make decisions on the strategic direction of the airport based on the information provided by their team of managers.
Logistics analyst: Logistics analysts streamline product manufacturing, transportation, storage and distribution. They assess production and supply chain problems to determine economically efficient solutions. They assists company managers in decision-making processes and direct programs designed to provide subcontractors, managers and customers with logistic technology.
Public housing manager: Public housing managers develop strategies for the improvement of housing policy in a community, as well as providing social housing to those in need. They identify housing needs and issues, and supervise resource allocation. They also communicate with organisations involved in building public housing facilities, and social service organisations.
Taxi controller: Taxi controllers take bookings, dispatch vehicles, and are responsible for coordinating drivers while maintaining customer liaison.
Rescue centre manager: Rescue centre managers supervise operations of a rescue centre, performing administrative duties and supervision of staff. They ensure that the centre operates according to policies and staff perform rescue missions in a safe, efficient and compliant manner.
Food safety inspector: Food safety inspectors carry out inspections in food processing environments from a food safety standpoint. They are part of official control bodies who check and control food products and processes to ensure compliance with regulations and laws governing safety and health.
Logistics and distribution manager: Logistics and distribution managers take decisions on logistic services, operations and provisions. They take internal and external variables into consideration for effective and successful organisational logistic services. They give appropriate support to all the activities of the supply chain from the beginning to the end. These professionals organise the storage and distribution of goods and ensure that the right products are delivered to the right location on time and at a good cost.
Financial analyst:
Financial analysts conduct economic research and elicit valuable analyses on financial matters such as profitability, liquidity, solvency, and asset management. They provide recommendations on financial matters for decision-making processes. Financial analysts work in both the public and the private sector.
Economic development coordinator: Economic development coordinators outline and implement policies for the improvement of a community’s, government’s or institution’s economic growth and stability. They research economic trends and coordinate cooperation between institutions working in economic development. They analyse potential economic risks and conflicts and develop plans to resolve them. Economic development coordinators advise on the economic sustainability of institutions and economic growth.
Consul: Consuls represent governments in foreign institutions such as embassies in order to facilitate economic and political cooperation between the two nations. They protect the interests of their home nation and provide bureaucratic assistance to citizens living as expatriates or travelling in the host country.
Social services manager: Social services managers have the responsibility for strategic and operational leadership and management of staff teams and resources within and or across social services. They are responsible for the implementation of legislation and policies relating to, for example, decisions about vulnerable people. They promote social work and social care values and ethics, equality and diversity, and relevant codes guiding practice. They are responsible for liaising with other professionals in criminal justice, education and health. They can be responsible for contributing to local and national policy development.
Animal feed supervisor: Animal feed supervisors supervise the manufacturing process of animal feeds. They control quality, take samples for labs, follow up on lab results and take measures according to the results.
Deck officer: Deck officers or mates perform the watch duties on board of vessels like determining the course and speed, manoeuvring to avoid hazards, and continuously monitoring the vessels position using charts and navigational aids. They maintain logs and other records tracking the ship’s movements. They ensure that the proper procedures and safety practices are followed, check that equipment is in good working order, and oversee the loading and discharging of cargo or passengers. They supervise crew members engaged in maintenance and the primary upkeep of the vessel.
Elderly home manager: Elderly home managers oversee, plan, organise and evaluate the provision of elderly care services for people who are in need of these services due to the effects of ageing. They manage the elderly care home and supervise the activities of the staff.
Youth centre manager: Youth centre managers plan and supervise the operations of children and youth homes which provide care and counselling services. They assess the needs for youths in the community, develop and implement pedagogical methods, and develop programs for the improvement of youth care in the centre.
Child day care centre manager: Child day care centre managers provide social services to children and their families. They supervise and support child care workers and manage the childcare facilities. Child day care centre managers have the responsibility for strategic and operational leadership and management of staff teams and resources within and or across child care services.

Consider economic criteria in decision making is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Meat cutter: Meat cutters cut carcasses of animals into large and smaller parts for further processing. They remove bones from pre-processed carcasses of animals either manually or using machines.

Business economics researcher: Business economics researchers conduct research on topics regarding economy, organisations, and strategy. They analyse macroeconomic and microeconomic trends and use this information to analyse the positions of industries or specific companies in the economy. They provide advice regarding strategic planning, product feasibility, forecast trends, emerging markets, taxing policies, and consumer trends.
Slaughterer: Slaughterers slaughter animals and process carcasses for further processing and distribution.

Budget analyst: Budget analysts monitor the spending activities of public and private institutions and companies. They prepare budget reports, review the budget model used in the company and ensure compliance with the budgeting policies and other legal regulations.
Meat preparations operator: Meat preparations operators prepare fresh meat with ingredients such as spices, herbs or additives in order to make ready-for-sale meat preparations.
Prepared meat operator: Prepared meat operators process meat either by hand or using meat machines such as meat grinding, crushing or mixing machines. They perform preservation processes such as pasteurising, salting, drying, freeze-drying, fermenting and smoking. Prepared meat operators strive to keep meat free from germs and other health risks for a longer period than fresh meat.
Kosher slaughterer: Kosher slaughterers slaughter animals and process carcasses of kosher meat for further processing and distribution. They slaughter animals as stated in Jewish law and according to rituals.
Second officer: Second officers are responsible for monitoring and controlling various aircraft systems including fixed-wing and rotary wing. They work in close coordination with the two pilots during all phases of flight. They make pre-flight, inflight, and post flight inspections, adjustments, and minor repairs. They verify parameters such as passenger and cargo distribution, the amount of fuel, aircraft performance, and appropriate engine speed according to instructions of pilots.
Halal slaughterer: Halal slaughterers slaughter animals and process carcasses of halal meat from cows and chickens for further processing and distribution. They slaughter animals as stated in Islamic law and ensure that the animals are fed, slaughtered and hung up accordingly.

References

1. Consider economic criteria in decision making – ESCO