Put simply, Free trade is international trade where there are no government policies restricting the import and export of goods and services. While economists consider this as the best approach to maintain a healthy global economy, this is more of a theoretical policy become some restrictions do exist. Free trade means importing and exporting without […]
Business Management
Organization Culture: Importance, factors and how it can be changed
Culture is gaining more attention in business nowadays as it is known to impact business due its influence on manners, behaviours, business negotiation process, decision making, etc. Due to globalisation, businesses are expanding their operations around the world; as a result, it is important to have understanding of different cultural patterns. Organizational culture refers to […]
Netflix: Various Strategies
Various strategies (innovation, growth) adopted by Netflix to become the largest streaming service provider in the world. About Netflix Netflix, the world’s largest online streaming services provider, serves a diverse subscriber base globally. Its popularity over the years has been driven through original content and sound use of technology. Netflix maintains that member satisfaction is […]
Kotter’s 8-Step Change Model Explained
Kotter’s 8-step change model is a change management model that lays down the process for organizations to efficiently implement a new change initiative. Introduction to Kotter’s Change Model Dr. John Kotter had first introduced the model in his book ‘Leading Change’ (1996); the model was then updated and published in the book ‘Accelerate’ (in 2014). […]
Special Economic Zone (SEZ): Case Studies
A special economic zone (SEZ) is an area within a country that has business-friendly trade and business laws and is subjected to different economic regulations from the rest of the country. SEZs are set up to boost economic activity, promote exports, boost investments, develop infrastructure as well as create employment opportunities. Special Economic Zone (SEZ): […]
Comparative Advantage trade theory
Comparative advantage is the ability of a country to produce a particular good or service more efficiently (at a lower cost) than its trading partners. Comparative Cost Advantage is a situation in which a country, individual, company or region can produce a good at a lower opportunity cost than a competitor. The Country concentrates on […]
Business Failures: Case Studies
International Business Failures (Case Studies). Understand what went wrong, the reasons they failed, and lessons for businesses. Blockbuster Video: One of the biggest players in the home movie and video game rental services market, Blockbuster Video failed as it was unable to move towards a digital model. Polaroid: Polaroid was able to capture the market […]
Understanding Global Value Chains (GVCs)
Understand the importance and characteristics of global production chains. Understand the political, economic, ethical and social issues raised by the existence of global production chains. Understand the nature of employment and labor rights in identified emerging economies. What are Global Value Chains? (GVC) Global value chains are the fragmented cross-border stages, people and activities required […]
Organizational Structure: Types and Importance
An organizational structure is a system set in place, by which work flows within a firm, that helps the firm achieve its goals. Organizational Structure: Types and Importance Here, we take a look at the importance of organisational structure in terms of the overall success of a business. Experts have stressed that key factors have […]
International Trade: Concepts & Theories
International (Global) Trade concepts and theories. Understand free trade, protectionism, role of bodies like WTO in promoting free trade, regional economic integration and trade agreements. Understand the various theories of trade that explain why countries trade, understand the factors affecting countries’ trade patterns, and understand how global efficiency is increased through free trade. International Trade […]
Globalization: Concepts and resource guide
Globalization changes the business environment and presents new opportunities as well as pose new challenges to organisations operating in a global business. This resource guide helps understand globalization and key related concepts. What is Globalisation ‘New’ vs. ‘Old’ Forms of Integration Globalization refers to the increasing integration of economies around the world, particularly through trade […]
Trade Protectionism: Impact of Tariffs and Trade Barriers on International Trade
There are benefits to free trade, but some parties could lose out as well; that is why governments may feel the need to interfere and regulate certain aspects of the trade. Let’s understand why governments control trade and identify methods governments use to control trade. Introduction to Trade Tariffs Tariff refers to taxes or duties levied […]
Equity theory of Motivation – Adams (1965) (Process Theory)
As per the equity theory of motivation, when people see fairness and justice around them, they are motivated, and if they see unfairness and injustice around them, they become demotivated. This is how human beings really feel when it comes to fairness. Equity Theory (Adams 1965) suggests that we compare job inputs (effort/experience etc) and […]
What trade risks and financial risks does a multinational company face?
With increased globalization, many companies see the benefits of engaging in international trade; there’s opportunity to earn more revenue and to place your products and services in front of a wider audience. However, a business should also weigh in the risks associated with international trade. While one can mitigate most of these risks, certain risks […]
GE-McKinsey Matrix / Directional Policy Matrix
The GE-McKinsey (9-box) Matrix (aka Directional Policy Matrix) is a tool that enables a firm to understand which are its strong products/segments, where it has a strong competitive position so that it can focus better on those areas. This tool enables a firm to carry out analysis of its portfolio of products or various areas […]
Walmart: Various Strategies
Here are various strategies adopted by Walmart over the years that has helped the company become a retail giant. Pricing Strategy The pricing strategy of “Everyday Low Prices” has been at the core of the business model of Walmart. This strategy is focused on selling goods at a lower price per item at all times, […]
New Product Development (NPD): Various Models
New Product Development (NPD) refers to the process or steps needed to produce a new product and introduce it in the market. In order to improve customer satisfaction and to increase market share, firms use strategies such as regularly introducing new products and improving upon variables such as cost, time and quality. Managing new products […]
Logistics Management: Core concepts
Logistics management, a component of supply chain management, is the process of efficiently transporting goods from the starting point to the destination. It involves steps such as acquisition, storage and transportation of inventory. Here we will try to understand the Logistic concept, identify main activities and elements within logistics, recognise various modes of transport in […]
Ethical Issues in Photojournalism/Photography
Aaron Quinn raises the ethical issue of manipulating images in Photojournalism, through the use of computers, high-end camera gear and imaging editing software, as most readers feel that the images they see in newspapers and media is manipulated by journalists, as a result of which public trust is waning in journalism. Aaron Quinn says that […]
Ethical Issues with respect to Technology
Ethics is a branch of philosophy that studies morality, and Ethics in technology addresses ethical questions specific to the Technology Age. Professional ethics falls under the sub discipline of applied ethics as its purpose is to reason about, and answer moral issues, that arise in certain specific situations encountered by professionals. There are situations when […]
