‘Economy Business and Finance’ Archives
Irrational Exuberance
Irrational Exuberance He saved the world at least three or four times. He cost George Bush I his reelection in 1992. He made everybody in America rich by causing the markets to soar. When he used the phrase “irrational exuberance” to describe a stock market that he feared might be too high in 1996, he sent tremors through the global [...]
Franchise Auction
Franchise Auction The idea of auctioning ITV franchises to the highest bidder was first mooted by the Peacock Committee in the mid-1980s. Previous to this, the Independent Broadcasting Authority (IBA) had taken account of an applicant’s financial standing, managerial proposal and programme policy in the franchise award of a franchise. The [...]
Monetarism
Monetarism This theory relates changes in inflation to the level of the money supply in relation to the level of real output. Monetarism is also used as a generic term for neo-liberal economic theories (such as liberalization and deregulation). A monetarist revival occurred in the 1970s as a result of a period of stagflation (simultaneous [...]
What Is Benchmarking?
What Is Benchmarking? Benchmark is a term used in surveying. It means a fixed point, often marked by drilling a hole in bedrock and painting a ring around it, with a defined location in three dimensions (altitude, latitude, and longitude, not time, mass, and energy) from which the locations of other points can be determined. Etymologically the [...]
From Real to Virtual Organizations
From Real to Virtual Organizations There has been a trend for firms to focus on their core competencies and to create relationships with other firms to provide them with services and functions that many large firms once provided internally. This trend is reflected in the outsourcing of service functions such as legal services and the [...]
Data Mining as a Marketting Strategy
Data Mining as a Marketting Strategy Internet-based marketing strategies generate extremely large data sets from customer interactions. Purchase histories, financial records, customer service records, and Web site usage are just some of the data that reside in customer databases. In order to transform this mountain of diverse data into [...]
Purpose of a E-commerce Web Site
Purpose of a E-commerce Web Site There are many purposes for e-commerce efforts. Too often, organizations design web sites without considering what the purpose is for the web site. The purpose helps define the type of information needed to support the web site. The target audience(s) and purpose( s) should determine the type of information, [...]
Knowledge Management
Knowledge Management In concept, knowledge creation and management has been a concern of humanity throughout our existence as civilized species. In the context of business and industry, the current focus on knowledge management stems from developments in information technology and from the realization of the strategic importance of knowledge to [...]
Globalization and Consumerism
Globalization and Consumerism Neither consumerism nor globalization are new phenomena. ‘Consumer society’ has been a common way of characterizing the experience of living in the advanced economies for much of the twentieth century, and a focus for critical study by theorists as diverse as American sociologist Thor-stein Veblen, the [...]
Bertelsmann AG
Bertelsmann AG Bertelsmann AG, publishing conglomerate based in Gütersloh, Germany, that produces books, newspapers, television programs, and music compact discs (CDs). One of the world’s largest media companies, Bertelsmann grew from a small printer of hymnals in the 19th century into a worldwide enterprise with billions of dollars in [...]
