MGMT 3225 Lecture Notes - Lecture 3: Gross National Income, Gross Domestic Product, Legal Risk
Document Summary
Gross national income (gni)- a yardstick for measuring economic activity of a country, this measures the total annual income of a nation s residents. Human development index (hdi)- an attempt by the united nations to assess the impact of several factors on the quality of human life in a country. Purchasing power parity (ppp)- a adjustment in gross domestic product per capita to reflect differences in the cost of living. Innovation- development of new products, processes organization management practices and strategies. Entrepreneurs- those who first commercialize innovative new products and processes and entrepreneurial activities. Regulation- removal of government restrictions concerning the conduct of a business. Privatization- transfers the ownership of state property into the hands of private individuals, frequently by the sale of state assets through an auction. First-mover advantages- the advantages accruing to the first to enter a market. Late-mover disadvantages- the handicaps experienced by being a late entrant into the market.
