Strategic Planning Essentials: Concepts and Implementation
1. Defining Business Strategy
Strategy is the pattern of organizational movements and management approaches used to achieve goals and fulfill the company’s mission.
2. Steps in Strategic Planning
Strategic planning involves:
A. Formulation: Developing the mission, identifying opportunities and threats, determining strengths and weaknesses, establishing long-term goals, and generating alternative strategies.
B. Implementation: Setting annual objectives, policies, motivating staff, and allocating resources.
Read MoreEffective Demand and Economic Growth Models
Principle of Effective Demand
1. Define the offering price and aggregate demand, according to the principle of effective demand.
The aggregate offering price is the expected results affordable to employers, considered as estimated labor costs. The price of aggregate demand is the expected proceeds from employing N men. D = f(N).
2. What determines global production and employment levels?
Production and employment are determined by the intersection of two functions of employment level N and the aggregate
Read MoreUnderstanding Taxable Events and Obligations
Taxable Events and Obligations
According to the General Tax Law (GLT), a taxable event is fixed by law and triggers a tax obligation.
Features:
- Defines the economic nature of the tax.
- Determines the tax obligation.
Structure:
- Material or Objective Element: Reflects the manifestation of wealth subject to taxation.
- Subjective Element: The relationship between the subject and the taxable event.
- Space Element: The territory where the tax applies (global or real obligation).
Waivers
Waivers prevent a tax action
Read MoreEconomic and Tourism Terms Explained
Economic Terms
Basic Concepts
ADSL: Asymmetric Digital Subscriber Line, a type of internet connection known for its speed.
Tariff: A tax on imported or exported goods, sometimes exempt in specific areas.
Highway: Transport infrastructure with separate lanes for each direction, typically with at least two lanes per side and over 18 meters wide.
Autovía: Similar to a highway but with level crossings, usually toll-free.
AVE: Alta Velocidad Española, Spain’s high-speed train, connecting Madrid and Seville
Read MoreUnderstanding Unemployment: Causes, Impacts, and Solutions
Understanding Unemployment
Keynesian theory posits that the primary cause of unemployment lies not in the labor market but in the market for goods and services. Increased demand for goods and services leads to increased production and greater employment.
Other causes of unemployment include:
- Skills Mismatch: A discrepancy between the skills demanded by employers and those possessed by job seekers, resulting in an oversupply of certain professions and a scarcity of others.
- Underemployment: Individuals
International Trade and Socialism in Russia: Historical Insights
29. International Trade Relations in the Interwar Period.
The growing trend towards the opening of national economies that had characterized the prewar period slowed down during this time due to the slowdown in the expansion of international trade in relation to production, international migration controls, and the problems of the international monetary system.
International trade grew at a slower pace partly for structural reasons, but mainly due to the spread of tariff quotas, quotas, and exchange