Competency Details ( Knowledge of the Economy )

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Competencies

Jadarat Dictionary

Knowledge of the Economy

Efficiency Technical Competency

Maintains current knowledge-base of the macro and micro economic concepts, and applies own understanding of the existing and emerging market and industry trends, to analyse and interpret issues and identify opportunities for the organization, to facilitate the decision-making process.

Jadarat Code: T37

Level 1

Demonstrates basic knowledge of the economic principles and concepts. Applies basic knowledge and understanding of research techniques to initiate the process of collection of relevant information on the emerging market and industry trends.

Level 2

Shows specialised understanding of the economic landscape and the underlying concepts. Demonstrates specialised knowledge of the micro and macro economic analysis techniques, to initiate the interpretation of market and industry trends and assist superiors in the business decision-making process.

Level 3

Deeply understands the business economics and the interrelationship between own business statistics and the national and international economic indicators. Demonstrates the ability to explain the data sources and estimation methods used to produce economic statistics. Provides informed opinion to the organization on industry trends and opportunities available in the emerging markets.

Level 4

Uses full knowledge in making business decisions based on economic statistics and market information analysis. Serves as the technical expert in providing information on the economic elements that affect the efficiency of business resources and organization's business performance. Makes informative decisions regarding new business opportunities.

Level 5

Applies subject matter expertise of the economic theory and business economics when aligning the business strategy according to the national and international economic trends. Uses expertise of the micro and macro economic statistics to recommend and incorporate conceptual or methodological improvements into the measurement of industry trends, in line with the organizational objectives.