BUSA 356 Lecture 13: Management in a Global Context
6 Mar 2018
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Document Summary
Explicit (carefully formulated and discussed by senior government officials) Implicit (a loose collection of goals and policies that merely net to strategy, after the fact) Shapes the context by building and regulating the institutions that shape the market. Back risk: incorporation, bankruptcy, unemployment insurance, pensions, Wages, prices, work rules, distribution of income. Externalities (environment) and market failures (telecom, banking, infrastructure, and competition) Infrastructural resources (water, power, roads, rails, air traffic, telecom) Human resources (schools, colleges/universities, healthcare: technological resources (patents, defense and public science research, capital resources (banking, securities, insurance) Us and japan: high debt and trade deficits. An industry comprises of all firms producing a similar good or service. A market comprises: the firms in the industry, a set of products produced by those firms, a geographical area where customers and competitors are located. Theoretically competitor products with high cross-elasticity of demand. Practically identify which firms are responding to each other"s actions.
