Designing effective collaboration A report from the Economist Intelligence Unit Sponsored by Cisco Systems Designing effective collaboration Preface n early 2008 the Economist Intelligence Unit published a paper titled “The role of trust in business collaboration”, one of a several papers produced since 2006 as a part of ongoing research sponsored by Cisco Systems. The paper focused on the need for different levels of trust in different business environments. Although each of those environments
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major lesson in this story has everything to do with profits. A profit is defined differently based on one’s perception and professionalism. Economists and entrepreneurs have their own definition of this term. Entrepreneurs see profit to be the extra revenue on top of the amount of capital used to produce the product and the total cost implications. Economists on the other hand view profits as the potentiality of a new idea and the opportunity cost of making the idea work in an environment where it
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and economic growth”(Duisenberg). However there are still some minor questions that we do not have the answers too but our financial system is directly linked to economic success in the country and the world. Regarding the unanswered questions, economists still have the presence of contradicting views exhibiting the underlying sequences in the operation that explain the positive relationship
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services that have been produced, or the new jobs created. What they do not normally acknowledge is that the benefits to society of that money, if it had been spent otherwise, or left in the pockets of taxpayers, might have been even greater. Economists refer to the value of an expenditure in its highest alternative use as its "opportunity cost." The concept of opportunity cost is reasonably intuitive. At the household level, if a person spends $100 on a night on the town, that $100 is no longer
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All of economics is meant to be about people’s behavior. Behavioral Economics is a field of economics that studies how the actual decision-making process influences the decisions that are reached. The standard economic theory is known as neoclassical economics. Neoclassical economics stops short of trying to explain where people’s preferences come from, but it does not take account of the direct influence of other people’s behavior and social standards on our behavior. The theory imagines we independently
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trust in the whole system started to fail. In turn lack of confidence in the economy has led to what is commonly referred to as the “great recession”. The question left to ask is, where do we go from here? The public is looking for an answer from economists to what will happen next. Because of the lack of certainty in the global forecasts, people are starting to lose confidence in the system. For example, in November 2008, the World Bank predicted the growth of the 2009 GDP to be 0.9%, while the International
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global economic instability? In 2011, a group of economists met with the International Monetary Fund to discuss this very question. After reviewing the economists Robert Solow, Michael Spence and Joseph Stilglitz stating their views and opinions, I understand the situation better. I agree with some of the comments that these economists discussed. Ultimately, there is no quick fix for the global economy to grow and remain stable. However these economists mention some very great ideas and make a good
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relative to its contribution to the cost. DISCUSSION 3 WEEK 3 ECO I agree U.S. Postal Service face a lot of competition because they are not the only firm in its industry. Firms are brought into existence by people in order to produce things. Economists assume that the overriding goal of all corporations is to make as big a profit possible. They make the assumptions: for example, if you ask around, profit maximization is near the top of every firm's to do list. No matter what other goals a firm
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The Sochi Olympics: Castles in the Sand “Castles in the Sand” is an article written by The Economist, a British publication. This article, published on July 13, 2013, argues that in many ways Sochi is an odd choice for the winter games and there is a lot of corruption. The Sochi Olympics is a gigantic construction site where 70,000 workers from every corner of the old Soviet Union dig, lift, pull and churn day and night. I would like to talk about few points about this article, my first
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Economic Tools and Concepts Economic Tools and Concepts The core of economics is known as the law of demand. Every time you pull out your pocketbook to purchase something, the law of demand is at work. The better you understand the law of demand, the better you will understand why you pay different prices for different goods. Demand is the relationship between the quantities of a good or service consumers will purchase and the price charged for that good. The law of demand states that the quantity
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