Given the obvious difficulties inherent in this topic, many people including many economists have asked: Why study business cycles if, in the long run, they all average out? The answer is that they are extremely costly to a society, not just in terms of lost income but in terms of disrupted lives—higher suicide and homicide rates, higher poverty levels, and higher divorce rates, among other measures of well-being—with persistent economic, social, and personal effects.

 

The evolution of thought on the nature of business cycles also traces the evolution of a large part of modern macroeconomic theory. In order to comprehend macroeconomics as it is practiced today and where it is headed in the future, it is crucial to understand the theoretical ground already covered and the economic events that precipitated changes in the way we view macroeconomic fluctuations. The main objective of this section is to cover the evolution of the macroeconomic theory of business cycles. Numerous early business cycle theories were developed before the Great Depression, each of them failing to make a clear distinction between the behaviour of individuals and the behaviour of economies as a whole. However, these early theories highlight many important characteristics of economic contractions. The study of modern business cycles began with Keynesian economics, which focused on the macroeconomic effects of market

One of the implementation of Study business cycle is considered as the final stage in business strategy (before monitoring and control). It could be defined as the translation of strategy into organisational action through organisational structure and design, resources planning and the management of strategic change.'' Analyzing the definition, it becomes obvious that strategy implementation of a business strategy would therefore, be how well the various components in carrying it out are successfully integrated.