Management and Organizational Studies 4410A/B Lecture Notes - Lecture 7: Fee Tail, Economic Regions Of Russia, North American Free Trade Agreement

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Raymond Leduc

Document Summary

Economies of east asia attained rapid growth: little progress in the rest of the world. People living on per day increased to 1. 3 billion over the past decade. Target goods and services to 5 billion people inhabiting developing countries. Bring cost structures of companies and their product offerings within the reach of low-income customers. Factor endowments: create own factors of production. Resource pool created through investment of industry specific knowledge and talent. Supporting infrastructure transportation/communication systems: firm specific knowledge/skills. Rare, valuable, difficult to imitate, rapidly/efficiently deployed. Demand conditions: demands consumers place on an industry for goods and services, more demanding consumers stimulate advances in products/services. Helps industries anticipate future global demand conditions. Helps industries respond to product/service requirements before competing nations are aware of the need for such products. Related/supporting industries: enable firms to manage inputs more effectively, develop competitive advantages through joint research/development, create probability of new entrants/forces existing firms to become more competitive.