business in market was based on ‘invisible hand’ of Adam Smith.
Until now, Adam Smith's 'invisible hand' is the fundamental principle of capitalism in 21st century market economy. Of course, the socialism was present based on a planned economy system. It opposed the market economy system and provoked the conflict and the Cold War, but planned economy system has collapsed with soviets union.
Agency cost
- Moral Hazard Problem
- Adverse Selection
Agency theory
Agency theory is a set of ideas on organizational control based on the belief that the separation of the ownership from management creates the potential for the wishes of owners to be ignored.
중략
Case study - 1
unrelated business
Most of growth due to a series of acquisitions
that were unrelated business.
세계여성경제포럼에 의하면 세계 300대 기업에서 여성이사의 비율은 9.3%에 불과한 것으로 나타났다. 특히 우리가 속한 아시아 지역은 0.2%로 극히 적은 수치다. 아직 기업 내에서 ‘유리천장’이 높다는 사실을 보여주는 수치로 최고 리더 역할로서의 여성의 경영참여는 제한적임을 알 수 있다. 또한 여
When the value of the Yuan raise, the exchange rate of Yuan goes down.
So, the value of the Dollar falls and exchange rate of Dollar goes up.
ex) Now 1 Dollar = 10 Yuan
If value of Yuan raise as 1 dollar = 5 Yuan,
the value of 1 Yuan changes from
0.1 dollar to 0.2 dollar.
ex) 1 dollar = 10 yuan -> 1 dollar = 5 yuan
Suppose an U.S company exports the product to China at
1. Review of “The Great Transformation”
Karl Polanyi(1886-1954)
An Austro-Hungarian political economist
He tried to deal with the social and political upheavals that took place in England during the rise of the market economy.
The great transformation:
“The political and economic origins of our time”
Originally Published in 1944 and reprinted in 1957 by Beacon in Boston.
Polany
2. F.M.D (Foot-and-mouth disease)
1) Definition
Foot-and-mouth disease is an infectious and sometimes fatal viral disease that affects cloven-hoofed animals, including domestic and wild bovid.
2) Clinical signs
The disease is characterized by high fever that declines rapidly after two or three days; blisters inside the mouth that lead to excessive secretion of stringy or foamy saliva and
Virgin group is very well known and respected company in the western countries. Even Virgin has very unique company culture and well known CEO named Richard Branson. Many Asian countries don’t know about them. Actually they underestimate a true value of virgin group. Therefore we will analyze structure and culture of virgin group. And then focus on the Richard Branson who is the CEO of Virgin.
1) Meaning of consumption in the specific context
At the beginning of the film, the main character went to the hospital to inquire about the plastic surgery, saying that "I just want to live like a normal person even one day, not because of the vanity ". and it was the most important reason for doing the plastic surgery which she thought important and invaluable consumption for her. the real
Taoism is a Chinese religious philosophy which believes that people should lead a simple honest life and not interfere with the course of natural events.
- Collins Cobuild English Dic.
"Once upon a time, Chuang Tzu dreamed that he was a butterfly, flying about enjoying itself. It did not know that it was Chuang Tzu. Suddenly he awoke, and veritably was Chuang Tzu