Key Concepts in Economics, Globalization, and Finance
Key Concepts in Economics and Finance
Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Greek for oikos (house) and nomos (custom or law), hence the house rules (home).
Globalization is a process of deepening economic, social, cultural, and political integration, which has been boosted by cheaper means of transport and communications since the end of the twentieth century and the early twenty-first century.
Read MoreEmotional Intelligence: Key to Effective Leadership
1. Introduction
The belief that there are individuals with the “right stuff” to be leaders is more art than science. After all, the personal styles of superb leaders vary. And just as important, different situations call for different types of leadership. Most mergers need a sensitive negotiator at the helm, whereas many turnarounds require a more forceful authority.
The most effective leaders are alike in one crucial way: they all have a high degree of what has come to be known as emotional intelligence.
Read MoreJoseph Juran and Philip Crosby: Quality Philosophies
Joseph Juran
- Do not look for any cultural exchange.
- Seeking to improve the quality, working within the system.
- Programs with minimal risk of rejection.
- Advocate for cost accounting and quality analysis.
- Higher compliance specifications.
Define Quality
- Performance of the product that satisfies the customer.
- Suitable for use.
- Two levels:
- The mission of the company.
- The task of each department.
- Main processes of quality:
- Plan for quality.
- Quality Control
- Improved quality.
PHILOSOPHY OF CROSBY
- Crosby’s motto is “according
Marketing Determinants: Economic Factors and Business Size
Economic Situation and Marketing Plans
The global economic situation at national and regional levels is one of the determinants of marketing plans, with clear implications for global enterprises. A higher cost of money leads to a selectivity of investment and expenditure, fully affecting marketing. Nationwide, an inflationary situation amplifies any marketing efforts, increasing positive results, while in periods of recession, the impact is unfavorable. An alternative in the latter case is to reduce
Read MoreGlobal Marketing: Pricing, Channels, and Strategy
Global Pricing Strategies and Issues
1. Law of One Price
Ensures equitable treatment and competitive balance in markets.
2. Reasons for Price Differences Across Markets
National market prices differ due to variations in:
- Costs: Logistics, labor, taxes.
- Competition: Local competitive intensity.
- Regulation: Government rules and interventions.
3. Key Pricing Decisions
- Pricing Objectives: Such as profit maximization, market penetration, or market skimming.
- Pricing Strategy: Determining price levels, positioning,
Unmasking Global Brands: Practices, Profits, and Protests
Book’s Hypothesis: Exposing Brand Secrets
This book aims to reveal the unethical secrets of major brands to inspire widespread opposition to their practices.
1980s Management Concept: Image Over Product
In the 1980s, the focus shifted. True corporate profitability wasn’t just about producing objects, but about creating a powerful brand image associated with the product.
Brand Blindness: Price Over Logo
This term describes consumers prioritizing price over the brand logo when making purchases, often driven
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