Economic Development: Concepts and Measurement
Economic Development
Economic development is a qualitative phenomenon that involves the structural transformation that improves the modes of production and the standards of living of a certain economy. It includes economic and social changes and progress for the people of the country.
There is a link between the increase in productivity and the increase in income: In the labor market, when a worker produces a product for a certain value, their income is linked to that value. So, the more productive
Read MoreOrganizational Power Dynamics: Tactics and Collaboration
Political Activity in Organizations
Political Activity: When uncertainty is high and disagreement arises, three domains of political activity in most organizations are structural change, management succession, and resource allocation.
Tactics for Increasing the Power Base
(Allocation of power is not random)
- Enter areas of high uncertainty (If you can identify and remove them, your power base increases).
- Create dependencies (When the organization depends on a department for information, materials, knowledge,
Banking Services, Regulations, and Central Banks
Banking Services
Banks offer a wide range of services, including:
- They are involved with transferring funds from savers to borrowers and in paying for goods and services.
- They act as financial intermediaries.
- They act as general financial service providers.
- They are involved in checking accounts and savings plans.
- They provide loans for business, consumers, and governments.
- They provide security trading, underwriting, insurance protection, financial planning, and the management of pension plans.
- They provide
Strategic Management: HR, Innovation, and Commerce
Management by Objectives: Location of Targets
This approach motivates individuals with high-level needs. It consists of three phases:
- The superior and subordinate meet to establish objectives for the upcoming period.
- Regular meetings are held to review progress.
- At the end of the period, a meeting is held to assess the results.
Whenever possible, objectives should be expressed numerically. Once goals are established, it is the subordinate’s responsibility to achieve them. If they are not successful,
Read MoreEntrepreneurship: From Idea to Business Launch
Topic 1: Discovering, Evaluating, and Exploiting Business Opportunities
“Entrepreneurship is the process of discovery, evaluation, and exploitation of opportunities; and the set of individuals who…”
Discovering an Opportunity
An opportunity is anchored in a product or service, which creates or adds value for its buyer or end-user. A chance to meet a market need. To perceive a possibility for a new profit.
Evaluating an Opportunity
The value, rarity, inimitability, and fit of an opportunity. Intuition,
Read MoreStrategic Business Analysis Models: Porter’s Five Forces, BCG Matrix, and More
Porter’s Five Forces (Competitive Analysis)
1. Intensity of Competition
- Numerous and balanced competitors
- Industry’s growth rate: Will it grow in the future?
- Exit barriers:
- Medium: Heavy industry with high investments.
- High: High cost structure = high intensity.
- Product differentiation:
- Medium: Brand awareness (low).
- High: High differentiation: seats, mobility, etc. (high).
2. Threat of Entry
- Reaction of established competitors:
- High intensity: Big companies can react and play aggressively.
- Medium intensity: