ACCTG 1 Lecture Notes - Lecture 24: Facilitated Communication, Change Management, Knowledge Economy
Document Summary
The new age of uncertainty: the environment around businesses is rapidly changing, companies face new corporate pressures csr becomes especially important. An age of change and opportunity: changes = opportunities for entrepreneurs, csr= opportunity to be ethical and to improve competitiveness by differentiating from competitors. Trend towards smaller entrepreneurial firms, small firms are more able to deliver a personalized, flexible, tailor-made service at a local level. Continuous uncontrollable: outsourcing trend of larger firms of smaller units contributed to the trend towards smaller firms, big firms often focused on efficiency and effectiveness rather than on creativity and innovation. The entrepreneurial revolution: started around the 1980s over 95% of the current wealth in the us has been created since then, most people are employed at small firms, small firms make the largest part of exports. Schumpeterian view: entrepreneurs are proactively created opportunity using innovative combinations which often included creative destruction of passive economic markets (creative destruction)
