This document provides an introduction to economics. It begins by defining economics as the study of how individuals, businesses, governments and societies cope with scarcity. It then distinguishes between microeconomics, which studies individual and business decision-making, and macroeconomics, which studies overall economic performance. Two key questions of economics are discussed: how choices determine what is produced and for whom, and when do self-interested choices also benefit society. Key economic concepts like incentives, costs and benefits are also introduced.
This document provides an introduction to economics. It defines economics as the study of how individuals, businesses, governments and societies cope with scarcity. It distinguishes between microeconomics, which studies individual and business decision-making, and macroeconomics, which studies overall economies. The document also outlines two key questions of economics: how choices determine production and whether self-interest promotes social welfare. It describes rational decision-making based on weighing costs and benefits at the margin, and how incentives influence choices.
This document provides an overview of key concepts in economics. It defines economics as the study of how individuals, businesses, governments and societies cope with scarcity. It distinguishes between microeconomics, which examines choices of individuals and businesses, and macroeconomics, which examines effects on the overall economy. Two big questions of economics are how choices determine production and whether pursuit of self-interest also promotes social interest.
This document provides an introduction to economics. It defines economics as the study of how individuals and societies choose to use scarce resources. It discusses the key economic questions of what, how, and who and introduces some core economic concepts. These include positive versus normative analysis, incentives, marginal analysis, and economic models. The document also previews how microeconomics and macroeconomics are used to understand markets, business decisions, policies, growth and fluctuations. Examples are provided around traffic congestion and hybrid vehicles to illustrate economic concepts.
Economics studies how individuals, businesses, governments and societies make choices with limited resources. It has two main parts: microeconomics which examines individual and business choices and markets, and macroeconomics which examines overall economies. A key question is how do choices determine what, how and for whom goods and services are produced. Choices are made rationally by comparing costs and benefits at the margin in response to incentives. Economics aims to develop positive models and theories that can be tested against facts to understand and advise on economic systems and policies.
This document provides an overview of an introductory economics textbook. It covers the following key points in 3 sentences:
The document introduces economics as the study of how individuals and societies make choices about scarce resources. It outlines the scope of microeconomics, which examines individual decision-making units, and macroeconomics, which examines aggregates on a national scale. It also summarizes several of the main concepts and theories covered in economics, such as opportunity cost, marginalism, models, and the positive and normative approaches to economic analysis.
This document provides an overview of introductory microeconomics. It discusses:
- The scope of economics, including microeconomics which examines individual decision-making units like households and firms, and macroeconomics which examines aggregates on a national scale.
- The diverse fields of economics like behavioral economics, comparative economic systems, econometrics, economic development and others.
- The method of economics, distinguishing positive economics which describes what exists without judgment, from normative economics which evaluates outcomes and may prescribe policy.
- Key concepts like opportunity cost, marginalism, models, theories, and the principle of ceteris paribus.
This document provides an introduction to economics. It begins by defining economics as the study of how individuals, businesses, governments and societies cope with scarcity. It then distinguishes between microeconomics, which studies individual and business decision-making, and macroeconomics, which studies overall economic performance. Two key questions of economics are discussed: how choices determine what is produced and for whom, and when do self-interested choices also benefit society. Key economic concepts like incentives, costs and benefits are also introduced.
This document provides an introduction to economics. It defines economics as the study of how individuals, businesses, governments and societies cope with scarcity. It distinguishes between microeconomics, which studies individual and business decision-making, and macroeconomics, which studies overall economies. The document also outlines two key questions of economics: how choices determine production and whether self-interest promotes social welfare. It describes rational decision-making based on weighing costs and benefits at the margin, and how incentives influence choices.
This document provides an overview of key concepts in economics. It defines economics as the study of how individuals, businesses, governments and societies cope with scarcity. It distinguishes between microeconomics, which examines choices of individuals and businesses, and macroeconomics, which examines effects on the overall economy. Two big questions of economics are how choices determine production and whether pursuit of self-interest also promotes social interest.
This document provides an introduction to economics. It defines economics as the study of how individuals and societies choose to use scarce resources. It discusses the key economic questions of what, how, and who and introduces some core economic concepts. These include positive versus normative analysis, incentives, marginal analysis, and economic models. The document also previews how microeconomics and macroeconomics are used to understand markets, business decisions, policies, growth and fluctuations. Examples are provided around traffic congestion and hybrid vehicles to illustrate economic concepts.
Economics studies how individuals, businesses, governments and societies make choices with limited resources. It has two main parts: microeconomics which examines individual and business choices and markets, and macroeconomics which examines overall economies. A key question is how do choices determine what, how and for whom goods and services are produced. Choices are made rationally by comparing costs and benefits at the margin in response to incentives. Economics aims to develop positive models and theories that can be tested against facts to understand and advise on economic systems and policies.
This document provides an overview of an introductory economics textbook. It covers the following key points in 3 sentences:
The document introduces economics as the study of how individuals and societies make choices about scarce resources. It outlines the scope of microeconomics, which examines individual decision-making units, and macroeconomics, which examines aggregates on a national scale. It also summarizes several of the main concepts and theories covered in economics, such as opportunity cost, marginalism, models, and the positive and normative approaches to economic analysis.
This document provides an overview of introductory microeconomics. It discusses:
- The scope of economics, including microeconomics which examines individual decision-making units like households and firms, and macroeconomics which examines aggregates on a national scale.
- The diverse fields of economics like behavioral economics, comparative economic systems, econometrics, economic development and others.
- The method of economics, distinguishing positive economics which describes what exists without judgment, from normative economics which evaluates outcomes and may prescribe policy.
- Key concepts like opportunity cost, marginalism, models, theories, and the principle of ceteris paribus.
Economics studies how individuals, businesses, governments and societies make choices when faced with scarcity and limited resources. It examines what, how and for whom goods and services are produced. Microeconomics focuses on individual and business choices and interactions in markets, while macroeconomics looks at whole economies. Choices determine patterns of production and use of factors like land, labor, capital and entrepreneurship. Pursuing self-interest through choices can promote social interests if it leads to efficient use of resources and fair distribution of goods.
The chapter introduces fundamental concepts in economics including microeconomics, macroeconomics, and different economic systems. It discusses how economics analyzes human behavior as rational responses to incentives and seeks to systematically explain decision-making. A key assumption is that people act in their self-interest in response to opportunities for gain. Economics aims to be a science through development of simplified models and theories to study economic phenomena in the real world.
This document provides guidance on positively framing messages about sustainable communities. It suggests focusing on how sustainable communities connect people to their local places and economies. Definitions and everyday language should be used to discuss strategies that invest public money effectively and support job creation. Emphasize that each community has unique opportunities and local leadership is key. The economy, jobs, and demand from the public should be central themes.
The document discusses formal and informal economies. It defines economics and describes its key concepts like scarcity, opportunity cost, demand, and supply. It also discusses different types of economics like microeconomics and macroeconomics. The informal economy makes up a large share of employment and output in many developing countries. Informal employment has increased over time and includes various types of work like street vendors, home-based work, and casual day labor. Formalizing the informal economy involves efforts to register informal enterprises and provide workers with legal protections and support services.
This document defines economics and distinguishes between microeconomics and macroeconomics. It explains that economics studies how individuals, businesses, governments and societies cope with scarcity. It also discusses the two main economic questions of what, how, and for whom goods and services are produced. Additionally, it covers key ideas in economics like incentives, tradeoffs, and opportunity cost.
- Adam Smith is considered the father of modern economics and authored The Wealth of Nations in 1776, which argued that individuals pursuing self-interest can benefit society through free market competition.
- Economics is the social science concerned with how individuals and societies satisfy unlimited wants with limited resources and make decisions about production, distribution, and consumption.
- Microeconomics examines individual markets and behavior of firms and consumers, while macroeconomics examines a nation's total output, employment, prices, and income distribution.
This document provides an overview of key economic concepts:
- Economics studies how individuals, businesses, governments and societies cope with scarcity and make choices given incentives. It has two parts: microeconomics and macroeconomics.
- Scarcity means human wants exceed limited resources. This forces trade-offs in what is produced and consumed. Choices are coordinated through prices and markets.
- The factors of production used to make goods and services are land, labor, capital and entrepreneurship. These earn income for their owners in the form of rent, wages, interest and profits. However, income is very unequally distributed in society.
- Economics seeks to understand how choices determine what is produced, how it is produced,
This document provides an overview of introductory economics concepts. It defines economics as the study of how people try to satisfy unlimited wants through scarce resources. It discusses the three basic economic questions of what, how, and for whom to produce. The four factors of production are outlined as land, labor, capital, and entrepreneurship. The document also defines needs versus wants, and explains why economics is considered a social science.
This document provides an overview of microeconomics concepts from a lecture. It defines economics as the study of how scarce resources are allocated. It discusses how economics is both a social science and decision science. It also covers the basic economic problem of scarcity and choice, factors of production, positive and normative analysis, and the economic way of thinking including using assumptions and marginal analysis. Finally, it discusses opportunity costs and production possibility frontiers in the context of scarcity.
This document provides an overview of economics, defining it as the study of how individuals, businesses, governments, and societies cope with scarcity. It distinguishes between microeconomics and macroeconomics. The two big questions of economics are what, how, and for whom goods and services are produced, and when self-interest promotes the social interest. Key economic concepts covered include incentives, opportunity cost, trade-offs at the margin, and how institutions shape incentives. The document also discusses how economists work as social scientists through observation, model-building, and testing models against facts.
This document provides an overview of economics, defining it as the study of how individuals, businesses, governments, and societies cope with scarcity. It distinguishes between microeconomics and macroeconomics. The two big questions of economics are what, how, and for whom goods and services are produced, and when self-interest promotes the social interest. Key economic concepts covered include incentives, opportunity cost, trade-offs at the margin, and how institutions shape incentives. The document also discusses how economists observe behavior, build models, test models, and address obstacles in their work.
This document provides an overview of economics, defining it as the study of how individuals, businesses, governments, and societies cope with scarcity. It distinguishes between microeconomics and macroeconomics. The two big questions of economics are what, how, and for whom goods and services are produced, and when self-interest promotes the social interest. Key economic concepts covered include incentives, opportunity cost, trade-offs at the margin, and how institutions shape incentives. The document also discusses how economists observe behavior, build models, test models, and navigate obstacles in their work.
This document provides an overview of key concepts from Chapter 1 of the textbook "Principles of Economics". It discusses the scope and method of economics. Microeconomics examines individual units like households and firms, while macroeconomics examines aggregates on a national scale. Positive economics describes what exists and how the economic system works, while normative economics evaluates outcomes and prescribes policies. Economic theories use models, graphs, and equations to express relationships between variables, with the goal of empirical testing. Economic policy aims to achieve efficiency, equity, growth, and stability.
This chapter introduces economics and distinguishes between microeconomics and macroeconomics. Microeconomics seeks to understand what goods are produced, how they are produced, and who gets them. Macroeconomics focuses on determining the standard of living, cost of living, and reasons for economic fluctuations. The economic way of thinking emphasizes scarcity, choice, tradeoffs and opportunity costs. Economists make positive statements using observation, models, and theories to understand economic behavior.
Chapter 2.Analyzing the External Environment of th.docxcravennichole326
Chapter 2.
Analyzing the
External Environment
of the Firm:
Creating Competitive
Advantages
MGT 401-C
University of Miami
P. Derayati – Department of Management
1
Introduction
Learning from mistakes.
• Cell Zone
• “...So next time your phone rings,
step in to a Cell Zone and indulge
in a peaceful conversation with
your loved ones. If you thought
someone from the detective squad
could eavesdrop while you’re in the
booth, let me tell you that this
novelty is completely sound-
resistant, thereby delivering privacy
to users. I wonder why such an
opportunity was not explored by
mobile phone makers in the past.
Well, applaud the brain behind this
concept…”1
2
https://cellphonebeat.com/the-cell-zone-will-deliver-crisp-phone-conversations.html
Introduction
Learning from mistakes.
• Cell Zone
• Detected emerging trend:
• Rise of cell phone usage in public places
• Potential discomfort to others present nearby
• Undetected emerging trends:
• Rise of non-voice communication:
▪ Social Media
▪ Text Messaging (including apps)
• Other Factors:
• Willingness to pay? (3500)
• Loss of 650,000$ to date
3
Creating the Environmentally Aware Organization
• Perceptual Acuity helps managers adapt with external shifts.
• Defined as “the ability to sense what is coming before the fog
clears.”
▪ Ted turner realized the potential for 24-hour news tv
▪ Steve Jobs saw the shifting trend of consumer taste in buying
music
• It is about shaping, as well as adapting
• The way of addressing the issue is equally important:
▪ Napster vs. Apple
▪ IoT (Google vs. Amazon)
4
Creating the Environmentally Aware Organization
5
Scanning
Monitoring Forecasts
Competitive
Intelligence
Creating the Environmentally Aware Organization
• Environmental scanning: involves surveillance of a firm’s external
environment
▪ Predicts environmental changes to come
▪ Detects changes already under way
▪ If detected before (most of) competitors notice, allows firm to
be proactive
• Environmental monitoring: tracks evolution of environmental
trends
• Sequences of measurable facts/events
• Streams of activities or trends from outside the organization
• Trends can be revealed through indicators:
▪ A Motel 6 executive.
➢ The number of rooms in the budget segment of the
industry in the US
➢ The difference between the average daily room rate and
the consumer price index (CPI) (what does it reveal?)
6
Creating the Environmentally Aware Organization
▪ A Pier 1 Imports executive
➢ Net disposable income (NDI)
➢ Consumer confidence index
➢ Housing starts
▪ A Johnson & Johnson medical products executive
➢ Percentage of gross domestic product (GDP) spent on health
care
➢ Number of active hospital beds
➢ The size and power of purchasing agents (indicates the
concentration of buyers)
7
Creating the Environmentally Aware Organization
• Competitive Intelligence: Associated with collecting data on ...
This document provides an overview of key concepts in microeconomics and macroeconomics. It defines economics as dealing with scarcity and choice. It discusses opportunity costs, markets, and different economic systems. Productive efficiency and inefficiency are explained using the production possibilities frontier model. The document also distinguishes between positive and normative economics and microeconomics and macroeconomics.
This document provides an overview of the scope and method of economics. It discusses why economics is studied, including to learn a way of thinking, understand society and global affairs, and be an informed citizen. It outlines the key fields of microeconomics and macroeconomics and various subfields of economics. It also explains the difference between positive and normative economics and how economics uses theories and models to understand relationships between economic variables.
Economics studies how individuals, businesses, governments and societies make choices when faced with scarcity and limited resources. It examines what, how and for whom goods and services are produced. Microeconomics focuses on individual and business choices and interactions in markets, while macroeconomics looks at whole economies. Choices determine patterns of production and use of factors like land, labor, capital and entrepreneurship. Pursuing self-interest through choices can promote social interests if it leads to efficient use of resources and fair distribution of goods.
The chapter introduces fundamental concepts in economics including microeconomics, macroeconomics, and different economic systems. It discusses how economics analyzes human behavior as rational responses to incentives and seeks to systematically explain decision-making. A key assumption is that people act in their self-interest in response to opportunities for gain. Economics aims to be a science through development of simplified models and theories to study economic phenomena in the real world.
This document provides guidance on positively framing messages about sustainable communities. It suggests focusing on how sustainable communities connect people to their local places and economies. Definitions and everyday language should be used to discuss strategies that invest public money effectively and support job creation. Emphasize that each community has unique opportunities and local leadership is key. The economy, jobs, and demand from the public should be central themes.
The document discusses formal and informal economies. It defines economics and describes its key concepts like scarcity, opportunity cost, demand, and supply. It also discusses different types of economics like microeconomics and macroeconomics. The informal economy makes up a large share of employment and output in many developing countries. Informal employment has increased over time and includes various types of work like street vendors, home-based work, and casual day labor. Formalizing the informal economy involves efforts to register informal enterprises and provide workers with legal protections and support services.
This document defines economics and distinguishes between microeconomics and macroeconomics. It explains that economics studies how individuals, businesses, governments and societies cope with scarcity. It also discusses the two main economic questions of what, how, and for whom goods and services are produced. Additionally, it covers key ideas in economics like incentives, tradeoffs, and opportunity cost.
- Adam Smith is considered the father of modern economics and authored The Wealth of Nations in 1776, which argued that individuals pursuing self-interest can benefit society through free market competition.
- Economics is the social science concerned with how individuals and societies satisfy unlimited wants with limited resources and make decisions about production, distribution, and consumption.
- Microeconomics examines individual markets and behavior of firms and consumers, while macroeconomics examines a nation's total output, employment, prices, and income distribution.
This document provides an overview of key economic concepts:
- Economics studies how individuals, businesses, governments and societies cope with scarcity and make choices given incentives. It has two parts: microeconomics and macroeconomics.
- Scarcity means human wants exceed limited resources. This forces trade-offs in what is produced and consumed. Choices are coordinated through prices and markets.
- The factors of production used to make goods and services are land, labor, capital and entrepreneurship. These earn income for their owners in the form of rent, wages, interest and profits. However, income is very unequally distributed in society.
- Economics seeks to understand how choices determine what is produced, how it is produced,
This document provides an overview of introductory economics concepts. It defines economics as the study of how people try to satisfy unlimited wants through scarce resources. It discusses the three basic economic questions of what, how, and for whom to produce. The four factors of production are outlined as land, labor, capital, and entrepreneurship. The document also defines needs versus wants, and explains why economics is considered a social science.
This document provides an overview of microeconomics concepts from a lecture. It defines economics as the study of how scarce resources are allocated. It discusses how economics is both a social science and decision science. It also covers the basic economic problem of scarcity and choice, factors of production, positive and normative analysis, and the economic way of thinking including using assumptions and marginal analysis. Finally, it discusses opportunity costs and production possibility frontiers in the context of scarcity.
This document provides an overview of economics, defining it as the study of how individuals, businesses, governments, and societies cope with scarcity. It distinguishes between microeconomics and macroeconomics. The two big questions of economics are what, how, and for whom goods and services are produced, and when self-interest promotes the social interest. Key economic concepts covered include incentives, opportunity cost, trade-offs at the margin, and how institutions shape incentives. The document also discusses how economists work as social scientists through observation, model-building, and testing models against facts.
This document provides an overview of economics, defining it as the study of how individuals, businesses, governments, and societies cope with scarcity. It distinguishes between microeconomics and macroeconomics. The two big questions of economics are what, how, and for whom goods and services are produced, and when self-interest promotes the social interest. Key economic concepts covered include incentives, opportunity cost, trade-offs at the margin, and how institutions shape incentives. The document also discusses how economists observe behavior, build models, test models, and address obstacles in their work.
This document provides an overview of economics, defining it as the study of how individuals, businesses, governments, and societies cope with scarcity. It distinguishes between microeconomics and macroeconomics. The two big questions of economics are what, how, and for whom goods and services are produced, and when self-interest promotes the social interest. Key economic concepts covered include incentives, opportunity cost, trade-offs at the margin, and how institutions shape incentives. The document also discusses how economists observe behavior, build models, test models, and navigate obstacles in their work.
This document provides an overview of key concepts from Chapter 1 of the textbook "Principles of Economics". It discusses the scope and method of economics. Microeconomics examines individual units like households and firms, while macroeconomics examines aggregates on a national scale. Positive economics describes what exists and how the economic system works, while normative economics evaluates outcomes and prescribes policies. Economic theories use models, graphs, and equations to express relationships between variables, with the goal of empirical testing. Economic policy aims to achieve efficiency, equity, growth, and stability.
This chapter introduces economics and distinguishes between microeconomics and macroeconomics. Microeconomics seeks to understand what goods are produced, how they are produced, and who gets them. Macroeconomics focuses on determining the standard of living, cost of living, and reasons for economic fluctuations. The economic way of thinking emphasizes scarcity, choice, tradeoffs and opportunity costs. Economists make positive statements using observation, models, and theories to understand economic behavior.
Chapter 2.Analyzing the External Environment of th.docxcravennichole326
Chapter 2.
Analyzing the
External Environment
of the Firm:
Creating Competitive
Advantages
MGT 401-C
University of Miami
P. Derayati – Department of Management
1
Introduction
Learning from mistakes.
• Cell Zone
• “...So next time your phone rings,
step in to a Cell Zone and indulge
in a peaceful conversation with
your loved ones. If you thought
someone from the detective squad
could eavesdrop while you’re in the
booth, let me tell you that this
novelty is completely sound-
resistant, thereby delivering privacy
to users. I wonder why such an
opportunity was not explored by
mobile phone makers in the past.
Well, applaud the brain behind this
concept…”1
2
https://cellphonebeat.com/the-cell-zone-will-deliver-crisp-phone-conversations.html
Introduction
Learning from mistakes.
• Cell Zone
• Detected emerging trend:
• Rise of cell phone usage in public places
• Potential discomfort to others present nearby
• Undetected emerging trends:
• Rise of non-voice communication:
▪ Social Media
▪ Text Messaging (including apps)
• Other Factors:
• Willingness to pay? (3500)
• Loss of 650,000$ to date
3
Creating the Environmentally Aware Organization
• Perceptual Acuity helps managers adapt with external shifts.
• Defined as “the ability to sense what is coming before the fog
clears.”
▪ Ted turner realized the potential for 24-hour news tv
▪ Steve Jobs saw the shifting trend of consumer taste in buying
music
• It is about shaping, as well as adapting
• The way of addressing the issue is equally important:
▪ Napster vs. Apple
▪ IoT (Google vs. Amazon)
4
Creating the Environmentally Aware Organization
5
Scanning
Monitoring Forecasts
Competitive
Intelligence
Creating the Environmentally Aware Organization
• Environmental scanning: involves surveillance of a firm’s external
environment
▪ Predicts environmental changes to come
▪ Detects changes already under way
▪ If detected before (most of) competitors notice, allows firm to
be proactive
• Environmental monitoring: tracks evolution of environmental
trends
• Sequences of measurable facts/events
• Streams of activities or trends from outside the organization
• Trends can be revealed through indicators:
▪ A Motel 6 executive.
➢ The number of rooms in the budget segment of the
industry in the US
➢ The difference between the average daily room rate and
the consumer price index (CPI) (what does it reveal?)
6
Creating the Environmentally Aware Organization
▪ A Pier 1 Imports executive
➢ Net disposable income (NDI)
➢ Consumer confidence index
➢ Housing starts
▪ A Johnson & Johnson medical products executive
➢ Percentage of gross domestic product (GDP) spent on health
care
➢ Number of active hospital beds
➢ The size and power of purchasing agents (indicates the
concentration of buyers)
7
Creating the Environmentally Aware Organization
• Competitive Intelligence: Associated with collecting data on ...
This document provides an overview of key concepts in microeconomics and macroeconomics. It defines economics as dealing with scarcity and choice. It discusses opportunity costs, markets, and different economic systems. Productive efficiency and inefficiency are explained using the production possibilities frontier model. The document also distinguishes between positive and normative economics and microeconomics and macroeconomics.
This document provides an overview of the scope and method of economics. It discusses why economics is studied, including to learn a way of thinking, understand society and global affairs, and be an informed citizen. It outlines the key fields of microeconomics and macroeconomics and various subfields of economics. It also explains the difference between positive and normative economics and how economics uses theories and models to understand relationships between economic variables.
This document discusses various aspects of financial ratio analysis, including:
1) Calculating and analyzing key ratios such as the current ratio, inventory turnover, days sales outstanding, and profitability ratios for a company.
2) Using the DuPont analysis and extended DuPont equation to break down return on equity.
3) The potential limitations and qualitative factors to consider when evaluating a company's ratios and future performance.
The document provides an overview of key financial statements (balance sheet, income statement, statement of cash flows) and concepts (accounting income vs cash flow, EVA, taxes). It includes examples from a company called D'Leon that recently expanded its operations. The expansion increased D'Leon's sales but resulted in negative net income, cash flow, and EVA in 2002 compared to 2001. D'Leon financed the expansion using external debt.
This document provides an overview of financial management. It discusses career opportunities in finance including money/capital markets and investments. The responsibilities of financial staff are to maximize stock value through forecasting, planning, decisions on investments/financing, coordinating/controlling transactions, and managing risk. Forms of business include sole proprietorships, partnerships, and corporations. Corporations have the goal of shareholder wealth maximization through stock price increases. Agency relationships exist between shareholders/managers and shareholders/creditors.
Strategic supply chain management operates at the highest level and involves long-term decisions about product development, customers, manufacturing, inventory, suppliers, and logistics that align with overall corporate strategy. These strategic decisions determine the overall direction of the company's supply chain and are refined at tactical and operational levels. The goal is to deliver customer orders accurately and on time while minimizing costs to optimize the supply chain.
This chapter discusses political risk faced by multinational corporations and strategies to manage risk. It examines how companies evaluate macro-level country risks and micro-level industry and sector risks. The chapter presents a framework to assess three dimensions of political risk: transfer risks relating to movement of capital and payments; operational risks relating to constraints on local operations; and ownership control risks relating to restrictions on ownership and control. It also discusses quantitative and qualitative techniques used to analyze risk, as well as integrative, protective, and proactive strategies companies employ to mitigate risk and develop productive government relations. Finally, it addresses challenges in managing alliances and joint ventures.
The document discusses key findings about the oil and gas industry and energy transitions from an IEA analysis. It finds that:
1) The oil and gas industry faces the challenge of balancing short-term returns with its long-term license to operate as societies demand reductions in emissions alongside energy.
2) No company will be unaffected by clean energy transitions, so every part of the industry needs to consider how to respond.
3) So far, investment by oil and gas companies outside their core business has been less than 1% of total capital expenditure.
Presentation of the Guidelines 2016_ English.pptxMamdouh Mohamed
This document provides guidelines for emerging oil and gas producing countries on good governance practices. It discusses establishing a strategic vision for the petroleum sector that is aligned with the national development plan. Key recommendations include conducting public consultations to set priorities, planning for long-term success, and reassessing objectives every 3-5 years. It also addresses attracting qualified investors through transparent licensing processes, collecting geological data to reduce risk, and establishing clear prequalification criteria for bidders. Frontier areas may require different licensing formats than more prospective acreage to generate investor interest.
Political risk analysis evaluates risks faced by governments, investors, and corporations from political instability and policy changes. It assesses risks from shifts in political power, conflicts, corruption, and other events. Political risk includes risks from a country's political system, economic system, legal framework, social stability, corruption, and security issues. Many actors underestimate political risks and rely too heavily on economic analysis rather than specialized political risk assessments. A thorough political risk analysis examines a country's government, policy process, political culture, and both domestic and external actors and public opinion. It also considers factors like governance, rule of law, and challenges to state authority from opposition groups or international actors.
Political risk analysis evaluates risks faced by governments, investors, and corporations from political instability and policy changes. It assesses risks from shifts in political power, conflicts, corruption, and other events. Political risk includes risks from a country's political system, economic system, legal framework, social stability, corruption, and security issues. Many actors underestimate political risks and rely too heavily on economic analysis rather than specialized political risk assessments. A thorough political risk analysis examines a country's government, policy process, political culture, actors, and public opinion to evaluate potential risks.
Peru has a National Civil Defense System (SINADECI) that coordinates disaster risk reduction (DRR) efforts. The National Institute of Civil Defense (INDECI) leads SINADECI and implements the National Plan for Disaster Prevention and Response. Key aspects of Peru's DRR system include its legal framework, institutional structures at national and sub-national levels, and sectoral incorporation of DRR into policies. Regional cooperation on DRR occurs through participation in initiatives like the Andean Strategy. Strengths include participation of all sectors in SINADECI, while weaknesses include need for improved coordination between actors and implementation of DRR plans.
The document discusses potential topics for an energy chapter in the Transatlantic Trade and Investment Partnership (TTIP) agreement between the EU and US. It notes that while an energy chapter could increase energy security and trade, it may also face opposition and have negative environmental impacts if it leads to increased fossil fuel production and use. Any energy chapter would need to ensure the EU's energy transition goals are not undermined and promote cooperation on renewable energy and efficiency. Key issues that could be addressed include reducing barriers to trade in green technologies, developing common emission reduction policies, and transatlantic collaboration on sustainable energy areas like smart grids and energy storage. Overall, the document analyzes both benefits and risks that would need to be weighed in considering
The document discusses heteroskedasticity in regression analysis. It defines heteroskedasticity as unequal variance of the error terms, unlike homoskedasticity which assumes equal variance. This can affect statistical tests by underestimating standard errors. The document outlines various tests to detect heteroskedasticity including graphical tests and formal tests like Breusch-Pagan. It also discusses resolving heteroskedasticity using generalized least squares and weighted least squares to produce efficient estimates.
This document provides an overview of the EViews command language and programming. It describes the four main components of the EViews command language: commands, functions, object views and procs, and object data members. It provides examples of common commands like wfopen, series, and equation. It also discusses functions, object views and procs, data members, and basic programming concepts in EViews like variables, control structures like if/else and for loops, and program arguments.
The document provides guidance on defining a product for export market analysis. It discusses defining the core, actual, and augmented elements of a product. The core product is the basic problem-solving benefit. The actual product encompasses physical attributes, and the augmented product includes additional services. Understanding these elements aids in segmentation, positioning and identifying competitors. It also explains how to determine a product's Harmonized System (HS) code for international trade and national tariff line (NTL) codes for specific countries to aid market research.
The document provides an overview of modeling and forecasting techniques using EViews software. It discusses the main forecasting steps, which include preparing and processing data, estimating linear equations and pool data equations, univariate time series modeling and forecasting, and using error correction models for long-term and short-term prediction. The document uses examples of consumer price index data to demonstrate preparing data, identifying appropriate time series models like ARMA, and generating forecasts using Box-Jenkins and Holt-Winters exponential smoothing methods.
The document provides an introduction to using Trade Map indicators to conduct market scanning and select target export markets. It discusses key concepts like identifying target markets, comparing markets across criteria like size, growth, and competition using standardized scores. Trade Map is introduced as an online tool that provides trade data indicators needed for market scanning, like market size, growth rates, unit values, and competition levels. The document emphasizes benchmarking growth rates and interpreting unit values to better understand market dynamics. It also highlights limitations of mirror trade data and demonstrates how to assign scores to criteria in a market scan analysis to identify the most attractive markets.
This document provides guidance on conducting market research to gather trade information. It outlines the steps to systematically organize research, including identifying relevant sources, recording findings, analyzing information, and understanding market implications. Key sources of trade information discussed include institutional websites, international market research companies, and tools like CBI's Market Intelligence Platform. The document emphasizes a structured approach to research using frameworks like the 9Ps to comprehensively gather and record up-to-date, reliable intelligence on target markets.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Notes and teaching tips: 4, 6, 13, 15, 16, 24, 28, and 32.
To advance to the next slide, click anywhere on the full screen figure.
Applying the principles of economics to interpret and understand the news is a major goal of the principles course. You can encourage your students in this activity by using the features called Economics in the News.
(1) Before each class, scan the news and select two or three headlines that are relevant to your session today. There is always something that works. Read the headline and ask for comments, interpretation, discussion. Pose questions arising from it that motivate today’s class. At the end of the class, return to the questions and answer them with the tools you’ve been explaining.
(2) Once or twice a semester, set an assignment, for credit, with the following instructions:
(a) Find a news article about an economic topic that you find interesting.
(b) Make a short bullet-list summary of the article.
(c) Write and illustrate with appropriate graphs an economic analysis of the key points in the article.
Use the Economics in the News features in your textbook as models.
No definition of economics can adequately capture the subject. For that reason, some teachers don’t like definitions and skip right over them. If you are one of these teachers, go ahead. Not much is lost.
Other teachers regard a basic definition as essential, and the textbook takes this view. The definition in the text…“the social science that studies the choices that individuals, businesses, and governments, and entire societies make as they cope with scarcity,” is a modern language version of Lionel Robbins famous definition, “Economics is the science which studies human behavior as a relationship between ends and scarce means that have alternative uses.”
Some teachers like to play with definitions a bit more elaborately. If you are one of these, here are four more, all of which add some useful insight and the last one a bit of fun:
John Maynard Keynes: “The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessors to draw correct conclusions.”
Alfred Marshall: “Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing.”
Jacob Viner: “Economics is what economists do.”
Jim Duesenberry: “Economics is all about how people make choices. Sociology is about why there isn’t any choice to be made.”
Don’t skip the questions in a rush to get to the economic way of thinking. Open your students’ eyes to economics in the world around them. Ask them to bring a newspaper to class and to identify headlines that deal with stories about What, How, and For Whom. Use Economics in the News Today on your Parkin Web site for a current news item and for an archive of past items (with questions). Pose questions and be sure that the students appreciate that they will have a much better handle on questions like these when they’ve completed their economics course.
Classroom activity
Check out the AT Issue: The Protest Against Market Capitalism”
Checkout Economics in the News: The Invisible Hand
Check out Economics in the News: The Internet for Everyone
Talk about Adam Smith and the Wealth of Nations.
Note that this book was the first systematic attempt to address this big question and that economists have been trying to answer it ever since.
You might like to mention that several Nobel Prizes have been awarded to economists who have worked on the question including Ken Arrow, John Hicks, and Gerard Debreu, as well as John Nash of “Beautiful Mind” fame.
There is not much that we can say to our students at this early point in the course about the way we try to describe the tension between self-interest and the social interest demonstrated by these topics. We can raise the interest level and excitement about the economics course by talking about issues like these four. The Boxes in the textbook flush out the topics.
Talk about some of these and any others that you happen to know a decent amount about. Try very hard to turn your students on! Get them debating these issues and try to steer the discussion toward benefits, costs, and who receives and bears them.
Begin by encouraging the students to use the economic way of thinking to reflect on their own lives.
Why are you here in college? Ask the students why they are pursuing a university degree. Most of them will say that they want a good paying job. Tell them about jobs such as postal workers, long haul truck drivers or grocery clerks that require relatively little training and offer up to $30,000 a year plus benefits. Ask the students to calculate the opportunity cost of being in school. Most students are shaken when they realize that the opportunity cost of a college degree approaches $150,000 to $200,000. Don’t leave them hanging here though. Mention that a college education does yield a high rate of return and suggest that they return to this topic when they get through Chapter 2.
Will your tradeoffs improve? You can do your student’s a further favor by helping them to realize that the tradeoffs they face today are as favorable as they will ever be. It’s an old cliché, but effective, to remind them that they are not going to be any more attractive than they are now, nor are they going to gain any additional physical prowess or have any greater capacity to learn than they have at this very moment in their lives. Right now they could do almost anything they set their minds to do. Encourage the students to figure out and be utterly convinced that the benefits they receive from being in college exceed the large opportunity cost that scarcity forces them to bear. Remind them of the relevance of this cost-benefit calculation to their decisions to skip classes, not study for exams, or retake core courses and delay graduation.
Scarcity Versus Poverty Ask the students why they haven’t yet attained all of their personal goals. One reason will be that they lack sufficient money. Ask them if they could attain all of their goals if they were as rich as Bill Gates. They quickly realize that time is a big constraint. They have stumbled on the fact that scarcity, which even Bill Gates faces, is not poverty. You can emphasize this distinction.
The value of models. Help the students to appreciate the power of models as tools for understanding reality. The analogy of a model as a map is easy and convincing. Jim Peach, a fine economics teacher at the University of New Mexico, gets his students to make paper airplanes on the first day of class. After flying their paper planes around the classroom (and picking up the debris!) he gets them to talk about what they can learn about real airplanes from experimenting with paper (and other model) planes.