Balance of Payments: Theory, Policy, and Institutions
Balance of Payments: Theory and Policy
The Balance of Payments, also known as Balance of International Payments (BoP), of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period. Transactions are made by individuals, firms, and government bodies; they include payments for the country’s exports and imports of goods, services, financial capital, and financial transfers.
Balancing Mechanisms
If the current account is in
Read MoreEssential Concepts in Consumer Behavior and Marketing Strategy
Consumer Definitions and Behavior Fundamentals
Key Definitions: Consumer, Customer, and Client
- Consumer: The individual who uses or consumes a product or service.
- Customer: The individual or organization that purchases a product or service.
- Client: The individual or organization that receives personalized or professional services, often involving an ongoing relationship.
Defining Consumer Behavior
Consumer behavior encompasses all activities associated with the purchase, use, and disposal of goods and
Read MoreLean Startup Principles for Early-Stage Ventures
Problem Identification
The project starts from a real customer problem, not from technology. Students suffer from digital distraction and lack of focus, while teachers lack simple non-digital tools to improve engagement. According to the course logic, “no problem, no business”, and the problem exists independently of the solution.
Solution & Value Proposition
TimePlay is a short physical classroom game designed to improve focus, time management, and collaboration. The key principle applied
Read MoreAI Strategy, Competitive Advantage, and Business Model Innovation
The Necessity of AI Strategy and the Exponential Gap
AI strategy is critical for companies today because it determines their capacity to navigate the exponential age and dictates whether they can achieve competitive growth.
The exponential gap refers to the significant difference between traditional companies that grow linearly and high-performing companies that achieve exponential growth, driven primarily by the adoption of AI. To close this gap and remain competitive, companies must undergo a digital
Read MoreBusiness Strategy: Value Chain, Five Forces & E-commerce
What Is Porter’s Value Chain Model?
It is a strategic business tool introduced by Michael Porter.
It helps a company analyze its internal activities to see how it creates value for its customers.
The “value” is the amount customers are willing to pay for a product or service.
The goal is to identify activities where the company can reduce costs or add more value (differentiation) to gain a competitive advantage.
The model splits a company’s activities into two categories: Primary Activities and Support
Understanding Business Ventures: Risks, Rewards, and Creative Techniques
Defining Entrepreneurship
Entrepreneurship is the process of designing, launching, and managing a new business venture that typically involves innovation, risk-taking, and the goal of achieving financial and social value.
At its core, it is the ability and willingness to identify market opportunities, organize the necessary resources (capital, labor, technology), and overcome challenges to create a new product, service, or process that addresses a market need. The entrepreneur is the individual who
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