Key Economic and Social Indicators: Definitions and Examples
Economic Environment
1. What is an Economic Indicator?
An economic indicator is a statistical measure designed to show changes in an economic variable or group of related variables with respect to time or other properties.
2. Three Examples of Monetary Indicators
- Means of Payment
- Base Currency
- Monetary Offer Extended
3. Three Examples of External Sector Indicators
- International Reserves (Gross, Net, Composition)
- Exchange Rate
- External Finance
4. Three Examples of Indicators for Public Finance
- National Government
Organizational Structures: Types and Characteristics
Types of Organizational Structures
A) Linear or Military Structure
This is the simplest and oldest type of management structure, where the main leader assumes all management functions.
Advantages:
- Simple and easy to understand
- Maintains maximum control
Disadvantages:
- Due to the complexity of current management functions, it is only used at lower management levels
B) Functional Structure
Maximizes departmentalization by function within an organization. It involves grouping activities according to the similarity
Read MoreKey Economic and Social Concepts Explained
Key Economic and Social Concepts
1. Capitalism
Capitalism is an economic system in which the means of production are privately owned and operated for profit. Supply, demand, price, distribution, and investments are determined mainly by private decisions in the free market, rather than by the state through central economic planning. Profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses.
2. Productivity
Productivity is the amount of output per unit
Read MoreUnderstanding Corporate Culture: Impact and Key Elements
Corporate Culture
Beliefs and behaviors that determine how a company’s employees and management interact and handle outside business transactions.
Corporate culture is:
- Shared
- Pervasive
- Enduring
- Implicit
It Implies:
Behaviors observed regularly in the relationship between individuals.
The norms that are developed in the working groups.
The philosophy that guides a company’s policy regarding its employees or customers.
The dominant values accepted by a company.
The “rules of the game“, that is, the ways that
Organizational Structures and the Evolution of the Entrepreneur
Organizational Structures
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Hierarchical Linear Model: Based on each person being immediately subordinate to a superior.
- Advantages: Simplicity, ease of understanding, and rapid decision-making.
- Disadvantages: Excessive concentration of authority and lack of motivation on the part of subordinates.
- Functional Model: Characterized by the existence of specialists who devote all their efforts to a particular task in the enterprise. Subordinates do not depend on the top immediately above them; there may
EU Social Policy: Labor Market, Employment & Social Security
EU Social Policy: Labor Market, Employment, and Social Security
Social Policy is regarded as another form of economic policy that focuses on labor market reform as a contributor to economic growth.
Binding vs. Non-Binding Provisions
- Binding Provisions
- Freedom of movement of workers
- Freedom of establishments
- Equal pay for men and women
- Rights to social security for migrant workers
- Non-Binding Provisions
- Paid holidays
- Commitments to improved living and working conditions
- General principles for implementing a