Competitive environment
Factor conditions, firm strategy- structure and rivalry, demand conditions, related and supporting industry
What are Porter's four diamonds ?
Strive to strike a balance between individualism and collectivism
What is mixed economy?
Is the study of population in terms of their overall size and structural characteristics
What is the demography?
Can result in new business opportunities, altering cost structures and create substitutes
What can new technology featured in prod and services result in?
Resources are limited and even open ended set of needs, wants and goals that make demand on those resources cant be all satisfied at once
What is the basic problem of scarcity
Characterized by many sellers, homogenized products and no barriers
What is perfectly competitive market condition?
Cultivate a wasteful desire for novelty or fashion and limitless appetite for consumption
What is the leftist view on promotion focus by the right wing
Includes different social status like upper middle class, working class, skilled class etc
What is ABC1 system of social grading?
Is a contingency theory arguing that tech determines aspects of org structure
What is tech determinism ?
Science which studies human behavior as a relationship between ends and scarce means which have alternate uses
How you define economics?
Industry growth rate, nature of product and service, entry exit condition, no. of firms
What factors influence level of competition?
Globalization is an engine economic prosperity. Brings in competitive pressure, promotes efficiency and thus lower prices for consumers
How do capitalists link globalization to improved living standards
Includes household spending, domestic energy consumption, housing, water, fuel and health expenses
What are the key social trends studied to measure demographic shifts ?
The concept combines several tech into a single entity
What is tech convergence?
Decide what to produce, obtain the max output, decide who gets it
What is productive and distributive efficiency?
Is described by no. of firms, their concentration, level of vertical integration and diversification
How do you describe market structure?
Inputs include demands, support services and resources; with output being rules, regulations, policy statements and public goods, services
What is the classical economist view of the Govt as an enterprise
Have regular and direct influence, indirect and formal influence
What are primary and secondary reference groups?
Describes the adoption or acceptance of a new product acc to the demographic and physiological characteristics of defines adopter groups
What is tech adoption life cycle?
Ultimate pricing power rests with the consumers; prices are free to find their own level: intervention is required to ensure fair play
What is capitalist, neoclassical, hidden hand approach respectively for economic efficiency?
Is an independent international organization committed to improve the state of the world by engaging business, political, academic etc leaders of society to shape global agenda
What is WEF?
Is viewed as an hybrid with members having limited liability with delta increase in ability to raise capital over sole traders, proprietors
What are limited liability firms?
The variables include time and occasion of purchase, customer loyalty, user status, benefits sought and attitude towards product and services
What is behavioral segmentation?
Bleeding edge, leading edge, state of the art, dated and obsolete
What are the five stages of tech maturity life cycle from a suppliers perspective
Flow of economic resources into firms and flow of payments for the use of resources
What are real and income flows in an economy?