From the Great Recession to Labour Market Recovery

the 1960s. The degree of economic integration can be categorized into six stagesPreferential trading areaA Preferential Trade Area is a trading bloc which gives preferential access to certain products from certain countries. This is done by reducing tariffs, but does not abolish them completelyFree trade areaExplain aboveCustoms unionA customs union is a free trade area with a common external tariffCommon marketA common market is a customs union with common policies on product regulation, and freedom of movement of all the three factors of production (land, capital and labour) and of

Case 1. Philips versus Matsushita:The Competitive Battle ContinuesHow did Matsushita succeed in displacing Philips as No. 1? What were its distinctive competence and incompetency?This analysis is focused on 1987 when Matsushita took over market leadership position from Philips. Matsushita succeeded in displacing Philips as No.1 with following three reasons. Firstly, due to country of origin effect where Matsushita came from, Matsushita was able to build up scope economies from a big customer base. Having big home market size helped Matsushita to attain scale economies. Armed with efficien

Executive SummaryRecession in the US automotive market and Hyundais SuccessThe Financial Crisis that first initiated in the United States has undoubtedly struck the American automotive market. General Motors (GM), Chrysler and Ford who are namely, the big three reported approximately 50% of sharp fall in sales in January 2009 . GM and Chrysler were affected the most and are currently under Chapter 11 bankruptcy protection, while Ford reported significant annual loss of $14.6 billion in 2008, the worst in its history. Amid such downfall, however, Hyundai Motor managed to successfully rema

the main factors that have contributed to the great success of Japanese electronic industry is the use of firmly accumulated knowledge base. SHARP electronics is not an exception. Although SHARP is not one of the major players in either Japanese and global market, the knowledge base upon which SHARP Electronics has built for nearly a century has been the key driving force for their gradual growth and rapid recovery from the global recession.Another feature that characterizes a typical Japanese electronic company is the cross-functional integration.As mentioned above, SHARP has implemented th

to describe price inflexibility in concentrated industries. Means labeled prices that were relatively inflexible. or which changed only infrequently, as administered prices.관리 가격 : 산업과 관련하여 가격의 불변성을 설명하기 위해 Gardiner Means가 만든 용어. Means는 비교적 불변하거나, 드물게 변하는 가격을 관리 가격이라 하였다. advances : Direct loans from the Fed to its members.선불금 : 연방 정부로부터 그 구성원에게 가는 직접 대출.AFL-CLO : The merged American Federation of Labor and Congress of Industrial Organ