Four Steps to Forecast Total Demand – by F. William Barnett
· In recent history, many companies have made serious strategic errors because of inaccurate industry wide demand forecasts. During the 70’s and 80’s, U.S. electric…
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Barriers for Small E-Businesses
Technological Financial Organizational Operational Technological Barriers Some small e-businesses will lack internal IT expertise Need to ensure adequate support available either internally or externally Valuable…
Developing a Small E-Strategy
Develop a strategy for e-commerce Implement strategy effectively Evaluate and revise Potential BenefitsBenefits can include : access to new markets improved customer responsiveness increased flexibility…
Preparing a Business Plan
Why Prepare a Plan? The Business Plan is a written summary of what you hope to accomplish by being in business and how you intend…
6 Key Elements of a Marketing strategy
Competitive marketing strategy occurs within departments, across organizations, and within people’s heads as a way of doing business. Competitive marketing strategy is defined as a…
Opportunity Cost and Comparative Advantage
The concept of opportunity cost and Comparative Advantage The opportunity cost of producing something measures the cost of not being able to produce something else….
The Ricardian Model in International trade
The Ricardian Model is based on *Technological differences (differences in labour productivities) between countries*Concepts of opportunity cost and comparative advantage. A simple example Unit labour…
Why do countries trade?
Countries are different to each other: preferences, culture and institutions, weather, factor endowment (land, capital and labour), technology, distance and transportation costs. Differences in labor,…
Why study International Economics?
Countries are linked via trade (goods and services) and capital (international lending and borrowing, foreign direct investment). In the last decade we have observed the…
Why study International Trade?
Trade theory helps address many pressing issues: Why do countries trade with each other and what determines what is being traded? Across countries: do all…