...throughout the post-renaissance era has become increasingly more important. In the seventeenth century, the idea of Technological Project (control of nature for human benefit) was introduced by Bacon and Descartes. This was very important because at the time, many people thought in terms of conformity to nature, not in terms of transforming nature for human benefit. Thinking in terms of conformity constrains individual freedom as far as innovation, which is the opposite of what TP is trying to accomplish. Inner-directed individuals are required for TP in order to produce innovative ideas that are both scientific and technical, in order to understand and control natural processes. Such individuals are considered to be autonomous thinkers. Free market economy is essential to the idea of TP. Free market society is a system in which goods and services are exchanged, and privately owned. The reason this is essential is because free market society creates and involves competition. Having a free market society, that is competitive, leads to innovation. Competition is in my mind, the basis for innovation. People would not be driven to innovate or think in such creative ways if they were not being challenged, or competing against others is such an economy. Innovation (which is derived from free market economy and its competition) is very important in terms of TP. In the Wealth of Nations, Adam Smith argued that a free market economy encouraged innovation. He believed that innovation...
Words: 1021 - Pages: 5
...Economy International Political Economy is a collection of aspects from economics, political science, sociology, history and some philosophy. With information coming from multiple sources there are bound to be numerous different perspectives of IPE. The three most common and well known perspectives examined will be liberalism, mercantilism and historical structuralism. Being that these are the three most accepted perspectives suggests that the majority of the views within these theories are strengths. However, with so much information, there are bound to be weaknesses and flaws found within these theories as well. There are always ways to improve on these the weaknesses and theories in general. International Political Economy deals with three main approaches: liberalism, historical structuralism and mercantilism. Each theory has its own strengths and weaknesses, but the way to improve them all is not to fix each individual weakness but to combine the strengths of all the perspectives into to create an entirely new theory. Liberalism is often described as the IPE perspective that focuses on the individual and the primacy of freedom or liberty in the book “Introduction to International Political Economy” by David Balaam and Michael Veseth. Individual freedom and capitalism are the overarching ideas found within the idea of liberalism. Capitalism is commonly referred to as a market-based economic system where free-markets and competition are the governing factors. Within the...
Words: 2799 - Pages: 12
...A. Why is corporate finance important to all managers? Corporate finance is important to all mangers because it is a component of how a business is run. It is important for managers to know how to direct funds for the betterment of the company. It is also important to mangers in order to know where the company stands financially. B. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each for. The forms a company evolves from proprietorship to partnership and then to a corporation. Some advantages of proprietorship are it is easy and inexpensive to form. It is subject to few government regulations and it’s income is not subject to corporate taxation but is taxed as part of the proprietor’s personal income. Some disadvantages are the proprietor can be held responsible for the debts of the business. Another disadvantage is it is hard to transfer ownership. Also the life is the business in dependent on the owner. Some advantages of partnership are the owner has protection against lawsuits and taxes on earned profits are taxed at the corporate level. Some disadvantages of partnership are, it is difficult to transfer ownership. There unlimited liability and there is a limited life for the organization. Some advantages of a Corporation are the owners are not personally liable for the debts of the company. In addition, it has limited liability. The corporation will continue...
Words: 1129 - Pages: 5
...54654165TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory * Join * Search * Browse * Saved Papers ------------------------------------------------- Top of Form Bottom of Form * Home Page » * Business and Management Customer Value Management at Tata Steel In: Business and Management Customer Value Management at Tata Steel PERSPECTIVES presents emerging issues and ideas that call for action or rethinking by managers, administrators, and policy makers in organizations Understanding the Process of Transitioning to Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge...
Words: 980 - Pages: 4
...a. Why is corporate finance important to all managers? Corporate finance is very important for managers because it is a primary factor on how businesses are ran. Managers need to stay informed on how money flows through their business in order to maintain business and build a profit. b. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each form. The organizational forms a company might have as it evolves from a start-up to a major corporation are sole proprietorships, partnerships, and corporations. Most companies start as a proprietorship which is a business owned by one person. According to our book, the advantages are it is easy and inexpensive to start, there are not very many government regulations, and its income tax is not taxed on the corporate level. The disadvantages are it may be difficult to build capital which may make it hard for the business to grow, there are also unlimited personal liabilities to business debts, and the life of the business is limited to the life of the proprietor. The advantage of a partnership is it’s easy and inexpensive to start, and taxes are set on a personal level instead of a corporate level. The disadvantages are unlimited persona liability, limited life of the organization, difficulty of transferring ownership, and its difficult raising a lot of capital. Proprietorship and partnerships advantages and disadvantages are...
Words: 1600 - Pages: 7
...way to answer the three economic questions of what, how and to whom to produce. Although every country must have an economic system to answer these three economic questions, their method of producing and distributing largely depends on the country’s historical experience, form of government, objectives and ideologies. To some people, government intervention in the economy are consider significant to protect against the worst elements of capitalism while others thing that such regulations are unnecessary invasions of their freedoms. To what extend should the government get involve in the economy. The government should take a limited role in the economy while allowing private enterprises because such involvement would eliminate the negative aspects of capitalism while adopting the positiveness of Socialism. This would benefits the economy in variety of ways. Firstly, government regulations allow businesses to remain in the private hands while removing some of the worst abuses of pure capitalism. Secondly, a government intervention protects the consumers, producers, and the community as a whole. Finally, limited government involvement prevents crises such as inflation, unemployment and depression. The nineteenth century period was a memorable period in the history of human kind. The industrial Revolution transformed society from an agricultural to a mechanized society. He output of production increased enormously thus creating substantial amount of jobs. Although the economy was drastically...
Words: 1027 - Pages: 5
...fourth grade high school students in Ohio discussing entrepreneurship: “ - Entrepreneurship is one of the most important parts of economics in a freeenterprise system. - An entrepreneur is a person that creates, organises and manages a business while trying to make a profit. The first thing an entrepreneur needs to do is to think of an idea. They have to be inquirers so they can gather as much information as possible. They need to constantly reflect on their decisions. They must be risk-takers because there is always a chance that their business will not succeed. They must be open-minded when presenting their ideas and receiving feedback. Entrepreneurs must be good communicators when sharing their ideas with investors and when advertising and promoting their company. They must also be principled and caring towards their employees and customers. - By being hardworking entrepreneurs, we all have the opportunity to be very successful.” 2 The essay examines the importance of entrepreneurship within the economy, core elements of entrepreneurship, and how entrepreneurial behaviour and certain character traits impact success. The investigation is based on statements about entrepreneurship given by fourth grade high school students in Ohio. The essay will argue that entrepreneurship is an essential part of economics in a free-enterprise system. Furthermore, it will point out that an entrepreneur needs to follow certain codes of conduct...
Words: 3566 - Pages: 15
...Vishal Wilson English 16 Professor Donald McCrary Research Paper 1 The issue of genetically modified organisms, often referred to as GMOs, is one of the most important arguments we can have as a society. A huge part of the argument stems from genetically modified foods. Some people regard genetically modified wheat and corn for their drought resistance and ability to feed millions of people in parts of the world that desperately need food. The other side of the argument stems from unwanted side effects caused by GMOs such as the creation of herbicide-resistant super weeds to the loss of biodiversity and uncontrollable transfer of modified genes into the environment (Whitman 4). The benefits vs. risks that GMO’s pose in regard to the environment and human health are still inconclusive. Only rigorous scientific research and time will yield conclusive results, along with possible advancements in technology that will help address most concerns. What is clear is that we need GMO’s to be able to feed the world’s population and that the potential risk GMO’s pose to human health and the environment can vary tremendously. The labeling of GM food is necessary will address the question of accountability of the impact GMO’s and large corporations have with their “proprietary crops” to the environment and health, along with minimizing potential risk. The argument that corporate driven agriculture...
Words: 2999 - Pages: 12
...a. Why is corporate finance important to all managers? It is important that a manager under the basic components of running a business. Understanding things such as the return of investment and interest over time should also be concern to the manager as well. Especially since factors as such determine the company’s ability to continue to stay in business and be successful. b. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. There are three forms of start-up that is incorporated into the corporate life cycle. Business has the choice to start up as proprietorship, which is non corporate business ran by one owner. There is also a partnership, which represent more than one owner to the business. This is also a non corporate business as well. Under a partnership other forms of partnerships such as: limited liability partnership (LLP) or your limited liability company (LLC). The final stage of corporate life cycle exists once the company has gained a certain amount of capital that allows them to become a corporation. List the advantages and disadvantages of each form. The advantages of proprietorship it doesn’t cost much and relative easy to start a proprietorship. Proprietorship is also bond by a few government regulations. In a proprietorship income is not tax under corporate taxation; instead it is taxed as a part of the proprietor personal income. The disadvantage of operating under a proprietorship is it is...
Words: 1405 - Pages: 6
...provided regarding neoliberalism in this assignment. Neoliberal Globalization Neo-liberalism refers to economic liberalism which has become very important in the international economy (Kotz and David, 1998). Neoliberal globalization is defined as setting up the market free and private enterprises are free from any bonds or regulations imposed by the government of the state (Ong, 2006). Neoliberal globalization mainly promotes the concept of free market economy. The rules of neo-liberal globalization include cutting the public expenditure and reducing the social safety net. It also involves reducing the government regulations or everything that could result in reduction in the overall business profitability of the private enterprises (Harvey, 2005). The state enterprises are sold to the private investors and concepts of ‘public good’ and ‘community’ are eliminated and the individual responsibility is increased. There is a huge criticism that this system usually involves pressing the poorest people within the society which could result in social distress within the society. At the global level, the neoliberal institutions are setting out the rules and regulations for free international trade and financial transactions in order to ensure the global economic growth (Greig and Hulme, 2007). It is a fact that when there is free trades between the countries then it will help to boost the overall economic performance (Ong, 2006). However, there is a common perception that undeveloped...
Words: 1840 - Pages: 8
...origin, it is surprisingly enough to know it was first employed in the 1930 and was entered in the dictionary in 1951, proving this idea is not new. Generally, globalization focuses on economic aspect with reference to the integrated financial markets. With the presence of free trade in the era of globalization, tangible substances as well as abstract ideas are widespread and interconnected; which has succeed in marking a change in human history. If asked to list two most predictive attributes of its success, I might suggest the hastening pace of technological change and the existence of free trade. Advancement in Internet and transport technology contributes to the escalation of globalization in the past decade. It expands the availability of telecommunication and information; facilitates remote delivery and provides new access and distribution channels; this helps to increase efficiency and cost-effectiveness in conducting economic activity. For example, the use of Internet—Skype, Facetime, Whatsapp etc. makes the world shrink its size as people can simply reach out to people who are miles away. This facilitates growth of economic activities as interaction and connection between people all over the world becomes a lot easier. What’s more, the market liberalization is indeed an important predictor of the success of globalization. Travelling back in time at the 21st century, the scale of capital flows and the interaction of global economic had already remained extraordinarily...
Words: 912 - Pages: 4
...Question a. Why is corporate finance important to all managers? Corporate Finance is important to all managers because it gives them the skills necessary to identify and select the corporate strategies that could add value to the company. Question b. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each form. |Organizational Form |Advantages |Disadvantages | |Sole Proprietorship |It is easily and inexpensively formed. |Difficult to obtain the necessary capital | | |It is subject to few Government rules and |needed for expansion and growth. | | |regulations. |Due to unlimited personal liability for the | | |Its income is not subject to corporate |business’ debts, the Proprietor may incur | | |taxation, but is taxed as part of the |losses that exceed the money invested. | | |Proprietor’s personal income. |The life of the proprietorship is limited to | | ...
Words: 1428 - Pages: 6
... Investing in the stock market can be a risky, but many times rewarding business. In order to ensure that you turn a profit, you need to invest in the right stocks. Finding the right stocks can be a challenge for those that are new to investing, but with some tips and advice, and a little knowledge, finding those lucrative stocks is made a whole lot easier. Before starting off, you need to understand your goals and how you are going to achieve them. In addition to formulating goals, you need to do some basic market research. Ask yourself questions like “What market am I going to invest in?” and “How much am I willing to risk?” Now that you have your basic goals and research completed, you need to get down to actual investing. Before you do this, you need to know which stocks you are going to be investing in. There are many tools online that can help you, such as Google Stocks, which helps you keep track of certain stocks to see which direction they are trending in. As general advice, the best stocks to invest in are those that have recently hit rock bottom, and are on their way back up. Investment Risk Profile Simply put, your investment risk profile is how “risky” you are as an investor. Most people think that the stock market is 100% safe and risk-free to invest in, but in reality people do lose money in the stock market, just look at how many lost money in the Great Depression. Determining your investment risk profile is important because you can then determine...
Words: 3045 - Pages: 13
...International Law: Essential Aspects Explained Abstract International Law helps governing relations among sovereign nations. It affects both society and individuals in many aspects. Today international law is not only about relations among different countries, but also how it is dealt internally. This paper will identify important international principles and doctrines, such as National Law, the Principle of Comity, and the Act of State and Sovereign Immunity Doctrines. This paper will also explore how business is done internationally by seeking foreign markets, exporting, and manufacturing abroad. International contracts and methods for making payments in international transactions will be explained. Break down the whole regulation of international business activities, such as investing and export and import controls and bribing foreign officials. And lastly, how U.S laws apply in a global context, such as antitrust laws and antidiscrimination laws. International Law: Essential Aspects Explained International business and commerce has always been a big part of civilization and throughout history. What is new today is the rapid growth of exchange of goods, services and intellectual property on a global scale. There are many laws pertaining how we handle commerce through the United States and to other countries and vice versa. International Law can be identified as a body of law as a result of international customs, treaties and organizations that are the benchmark for...
Words: 1266 - Pages: 6
...terms and conditions. This places some of the responsibility on the customer. Stipulations to a service guarantee may prohibit tampering with a product or require that certain maintenance schedules are followed. It may also outline what the consumer is required to do in order to prevent the malfunction of a product. If the specified conditions are not met, the service guarantee may be voided. Conditional agreements often apply to automobile warranties. For example, a serviceguarantee for an engine may require scheduled maintenance at regular intervals, such as changing the oil change every three months. If the engine were to malfunction as a result of the oil not being changed on schedule, the service guarantee could be canceled. It is important for a customer to follow the provisions provided. | | |This article is an orphan, as no other articles link to it. Please introduce links to this page from related | |articles; suggestions may be available. (July 2011) | A service guarantee is a marketing tool service firms have increasingly been using to reduce consumer risk perceptions,...
Words: 1841 - Pages: 8
