Economies of Scale: Internal and External Factors
External Economies of Scale
External economies of scale are efficiencies that a business achieves due to the expansion of external factors.
- Consumers: In a shopping mall, people enter various stores, so the small businesses in the mall will benefit.
- Employees: If a specific geographic area has a concentration of a certain industry, a business working in that area can benefit from the workers (low recruiting/training costs).
Internal Diseconomies of Scale
Internal diseconomies of scale are inefficiencies
Read MoreLeadership, Groups, and Motivation in Organizations
Leadership
Leadership consists of influencing the conduct of subordinates, making them unconditionally adhere to a cause. It is a social influence process in which the leader seeks the voluntary participation of subordinates to achieve certain objectives. The characteristics of a good leader are accountability, originality in problem-solving, the desire to take initiatives, and self-security. We must distinguish leadership styles:
Person-oriented leaders listen to group members, are friendly, accessible,
Read MoreSpanish Economic Growth vs. EU: 1960-Present
Spanish Economic Growth Compared to the EU
Main Characteristics of Spanish Economic Growth vs. EU Growth
Spain has demonstrated a higher economic growth rate than other European countries, averaging 3.1% annually compared to 2.4% in Europe. This highlights a greater capacity for economic growth in nations with a higher delay in economic development.
Economic growth in Spain has largely followed the same trajectory as Europe, even prior to its entry into the European Community in 1986. However, five
Read MoreLegal Framework and Standards in Architectural Planning
Hierarchy of Legal Prescriptions
The hierarchy of legal prescriptions is as follows:
- Acts
- 1997 LXXVIII. Act – On the Built Environment
- 2001 LXIV. Act – On the Protection of Cultural Heritage
- Governmental Orders
- 312/2012. (XI. 8.) Governmental Order – On the Procedures and Controls of Construction Supervision and the Services of the Construction Authority
- Ministerial Orders
- 28/2011 (IX.6.) Order of the Ministry for Home Affairs – On the Regulation of Fire Protection
- Local Statutes – Orders of the
Key Economic and Social Indicators: Definitions and Examples
Economic Environment
1. What is an Economic Indicator?
An economic indicator is a statistical measure designed to show changes in an economic variable or group of related variables with respect to time or other properties.
2. Three Examples of Monetary Indicators
- Means of Payment
- Base Currency
- Monetary Offer Extended
3. Three Examples of External Sector Indicators
- International Reserves (Gross, Net, Composition)
- Exchange Rate
- External Finance
4. Three Examples of Indicators for Public Finance
- National Government
Organizational Structures: Types and Characteristics
Types of Organizational Structures
A) Linear or Military Structure
This is the simplest and oldest type of management structure, where the main leader assumes all management functions.
Advantages:
- Simple and easy to understand
- Maintains maximum control
Disadvantages:
- Due to the complexity of current management functions, it is only used at lower management levels
B) Functional Structure
Maximizes departmentalization by function within an organization. It involves grouping activities according to the similarity
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