oikonomikos, meaning “the management of a household.” E conomics is the name of the social science 337 Enrich Your Vocabulary In reading this chapter and doing the exercises, you will learn the following important terms: comparative advantage competition consumer demand economics economic system Federal Reserve System free enterprise system gross domestic product industrial products limited resources market opportunity cost profit scarcity services supply technology Vocabulary You
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the competitive environment is more complex than ever. How can firms determine their level of competitiveness in a marketplace of expanded and increasingly intense rivalry? This chapter seeks to answer that question in a multi-faceted manner. First, the concepts of country-specific and firm-specific advantages are presented from the theories of international trade and the multinational firm. Firms must be aware of which advantages they can utilize in operationalizing their competitive advantages
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clearly reveals the dangers of an unstable, deregulated, global economy. At the same time, this gave rise to important global initiatives, striving towards betterment. Globalization is a factor responsible for both repression and the social boom. What happens when there is a growing integration of economies across the globe? Majorly there have been positive impacts of this global phenomenon - through liberalization, privatization and globalization (LPG). Due to globalization, there has been significant
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for several reasons. One of which it is more convenient. Another reason among many is that it can be cheaper due to the deals that are offered through doing online shopping and also no travel is usually a perk that goes with this method of shopping. What is better than being able to shop in your PJ’s? In order to reach their consumers, businesses are either extending their products to the online world with specially developed websites advertisements; or they are cutting costs by switching from the
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variables in the equation. While Technology can be a great and helpful tool in decision and judgment making and it can empower people by increasing their abilities, on its own doesn’t add any value. IT can produce significant strategic and competitive advantage only if it is used effectively, therefore it needs to be managed by highly motivated people. Every company needs to make decisions how to position itself in the market and how to create unique mix of values in order to successfully compete
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International Journal of Global Business, 7 (1), 77-94, June 2014 77 Building Global Strategic Alliances and Coalitions for Foreign Investment Opportunities Dr. Balarabe A. Jakada Department of Business Administration and Entrepreneurship Bayero University, Kano, Nigeria. bajakada@yahoo.com Abstract Global strategic alliance and coalition is a diffuse way of effective combination of strengths of companies aiming at entering new markets, exploring new technologies, bypassing government entry restrictions
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a PEST on Samsung and Identify the Change Drivers The group has identified the following analysis on SAMSUNG, one of South Korea’s key income contributor from the electronics industry that has resulted on a positive impact to the growth of the nation. The following table will highlight an analysis from Samsung’s perspective with regards to the nation’s political, economical, social and technology areas, where we have identified the change drivers, be it negative or positive, from the PEST analysis
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knowledge to compete effectively in international markets. The emergence of a more open world economy, the globalisation of consumer tastes and the unabated expansion of Internet access globally all increase the interdependency and interconnections of nation economies across the globe. The need for managers to develop the skills to respond to these pressures affects companies of all sizes. In this chapter, the reader will be introduced to the
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increasing complexity of technology. Strategic issues arise not only through the formal, periodic strategic planning processes in companies but also can, and quite often do arise unpredictably due to new insights, unexpected advances in technology or competitive activities in the market place. All companies have their way of identifying and dealing with these being their most critical strategic questions. However, theprocess of managing emerging strategic issues is typically non-structured, not necessarily
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Strategic Analysis Nokia Introduction / Case Context Nokia for many years was the largest mobile phone company in the planet. It sold in 2010 the great amount of 450 millions mobiles around the world (Gartner, 2011). However, today Nokia has been challenged and has lost market share due competitor’s pressure. According to Douglas Perry, “Samsung has become the world's largest cell phone maker in Q1 2012, overtaking Nokia for the first time”(2012). Nokia has been left behind because if its
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