“The affluent society” is one of the most famous non-fiction books of the 20th century, it was written by the Canadian-American economist John Kenneth Galbraith(1908-2006) and published in 1958. One of the key concepts introduced in this book is “Conventional Wisdom”, which is today widely used to refer to commonly held and accepted ideas and … Continue reading “THE AFFLUENT SOCIETY” BY JOHN GALBRAITH
The term “Efficient Market” was used for the first time by the American economist Eugene Fama(1939-) in his famous article published in 1970 “Efficient Capital Market: a review of theory and empirical works”.The main idea behind this theory is that it is impossible for investors to outperform the market by looking for undervalued stocks or … Continue reading The efficient market hypothesis
Michael Porter(1947-) the Harvard business school professor was conducting research about the competitiveness in different industries during the 70s of the last century when he came up with a new model to understand the attractiveness and potential profitability of a marketplace by analyzing the competition and the rivalry thought five different factors. that’s the ” … Continue reading Porter’s five forces model.
Have you ever wondered what is the best leadership style? What is that one best way of leading that results in ultimate success?Well, this is not even a right question to ask. Or at least, this is what situational leadership theory tells us ! What is Situational leadership theory? Situational leadership theory assumes that leaders … Continue reading Situational leadership theory and the model of Hershey & Blanchard .
You have, probably, already heard of economic inflation and deflation. And you know that the first one is characterized by a growing economic output, less unemployment and price levels going up. While deflation is the exact opposite. But what about a combination of both, sounds weird right? but yes, there is something called Stagflation ! … Continue reading What is stagflation?
Monetarism is a theory suggested by the American economist Milton Friedman (1912-2006) in the 60s of the last century, in “A Monetary History of the United States”, a book he co-wrote with Anna Schwartz. The theory was named so for its focus on money’s role in the economy. Monetarism is an economic doctrine according to … Continue reading Friedman’s monetarism theory.
Leaders, those people who are always at the frontend, the first ones to be applauded in case of success but alsothe first ones to be blamed in case of failure. They dare to assume the responsibility of whole businesses and carry the duty of achieving the organization’s goals and realizing its vision. Being in a … Continue reading The 8 leadership qualities that no leader can do without!
The international monetary system (IMS): a set of practices, rules and institutions aimed at organizing and monitoring monetary exchanges and financial flows between countries. This system of is generally defined as international payments and exchange rates between national currencies allows transactions between countries. Through history the world has known different monetary systems, one of the … Continue reading Bretton Woods international monetary system.
Knowing the customers’ purchasing behavior as closely as possible and understanding the underlying reasons for their purchases is one of the most important objectives all marketers work on achieving. Because this would make it possible to orient consumer purchases in the direction desired by the company. The study of consumer behavior therefore aims to help the … Continue reading Consumer behavior and the decision-making process .
In the business world, we often tend to use “manager” for “leader” and vice versa. It is not always easy to distinguish one from another. These two terms are moreover often confused and considered as synonyms. However, there are important differences between leadership and management. In fact, these two terms would have different definitions. Leadership … Continue reading Are management and leadership the same ?