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Topic Review
Globalization Impact on Multinational Enterprises
The world is rapidly becoming a global village, a term that is increasingly relevant to multinationals alike. These conglomerates’ development and growth encompass all regions of the world. The globalization era has transformed many multinational enterprises into highly efficient and productive entities that outweigh small countries and grow in power and control.
  • 17.9K
  • 21 Apr 2021
Topic Review
CCR Model (DEA)
The first Data Envelopment Analysis (DEA) model developed by Charnes, Cooper and Rhodes (1978) under the assumption of a Constant Returns to Scale production technology, i.e.,  when an increase in the production resources results in a proportional increase in the output.
  • 14.1K
  • 30 May 2021
Topic Review
Participative Decision Making (PDM)
Participative decision making (PDM) is the opportunity for an employee to provide input into the decision-making process related to work matters (i.e., work organization, task priority) or organizational issues, for example, when they have a say on promoting new strategy ideas. Elele and Fields state that PDM is a management initiative based on the ”theory Y”, which suggests that employees are interested in being committed and performing well if managers value their contributions in making decisions that affect the nature of work. The diverse opportunities to participate in the decision-making process can provide mutual benefits for employees and employers. Some writers have proposed that PDM enhances motivation, organizational commitment, and job satisfaction. The literature frames employee participation in different contexts, depending on the political, social, and legal environment of the countries.
  • 13.9K
  • 05 Aug 2021
Topic Review
Investment in Tourism Infrastructure Development
Investment in tourism infrastructure includes investment in components such as transport and communications infrastructure, the hotel and restaurant industry, and recreation facilities... Investment in tourism infrastructure development to make destinations and services increasingly attractive is considered a key measure in developing a country’s tourist destinations. It has a strong and positive impact on visitor attraction. 
  • 13.9K
  • 18 Sep 2021
Topic Review
Renewable Energy Supply Chain
The renewable energy supply chain (RESC) is defined as “the transformation of raw energy into usable energy and involves an effective set of management principles from the point of acquisition of energy resources to the point of consumption of usable energy”.
  • 12.3K
  • 16 Feb 2021
Topic Review
Global South
The Global South is a term often used to identify lower-income countries on one side of the so-called global North–South divide, the other side being the countries of the Global North. As such the term does not inherently refer to a geographical south; for example, most of the Global South is actually within the Northern Hemisphere. The term, as used by governmental and development organizations, was first introduced as a more open and value free alternative to "Third World" and similar potentially "valuing" terms like developing countries. Countries of the Global South have been described as newly industrialized or in the process of industrializing and frequently have a history of colonialism by Northern, often European, states. The countries of Brazil, China, India, Indonesia, and Mexico have the largest populations and economies among Southern states. The overwhelming majority of these countries are located in or near the tropics.
  • 11.8K
  • 14 Oct 2022
Topic Review
Ethereum
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH or Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin. In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015. Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact. Decentralized finance (DeFi) applications provide a broad array of financial services without the need for typical financial intermediaries like brokerages, exchanges, or banks, such as allowing cryptocurrency users to borrow against their holdings or lend them out for interest. Ethereum also allows users to create and exchange NFTs, which are unique tokens representing ownership of an associated asset or privilege, as recognized by any number of institutions. Additionally, many other cryptocurrencies utilize the ERC-20 token standard on top of the Ethereum blockchain and have utilized the platform for initial coin offerings. A series of upgrades called Ethereum 2.0 includes a transition to proof of stake and aims to increase transaction throughput by using sharding.
  • 10.9K
  • 20 Oct 2022
Topic Review
Georgism
Georgism, also called in modern times geoism and known historically as the single tax movement, is an economic ideology holding that, although people should own the value they produce themselves, the economic rent derived from land – including from all natural resources, the commons, and urban locations – should belong equally to all members of society. Developed from the writings of American economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecological problems, based on principles of land rights and public finance which attempt to integrate economic efficiency with social justice. Georgism is concerned with the distribution of economic rent caused by land ownership, natural monopolies, pollution and the control of commons, including title of ownership for natural resources and other contrived privileges (e.g. intellectual property). Any natural resource which is inherently limited in supply can generate economic rent, but the classical and most significant example of land monopoly involves the extraction of common ground rent from valuable urban locations. Georgists argue that taxing economic rent is efficient, fair and equitable. The main Georgist policy recommendation is a tax assessed on land value, arguing that revenues from a land value tax (LVT) can be used to reduce or eliminate existing taxes (such as on income, trade, or purchases) that are unfair and inefficient. Some Georgists also advocate for the return of surplus public revenue to the people by means of a basic income or citizen's dividend. The concept of gaining public revenues mainly from land and natural resource privileges was widely popularized by Henry George through his first book, Progress and Poverty (1879). The philosophical basis of Georgism dates back to several early thinkers such as John Locke, Baruch Spinoza and Thomas Paine. Economists since Adam Smith and David Ricardo have observed that a public levy on land value does not cause economic inefficiency, unlike other taxes. A land value tax also has progressive tax effects. Advocates of land value taxes argue that they would reduce economic inequality, increase economic efficiency, remove incentives to underutilize urban land and reduce property speculation. Georgist ideas were popular and influential during the late 19th and early 20th century. Political parties, institutions and communities were founded based on Georgist principles during that time. Early devotees of Henry George's economic philosophy were often termed Single Taxers for their political goal of raising public revenue mainly or only from a land value tax, although Georgists endorsed multiple forms of rent capture (e.g. seigniorage) as legitimate. The term Georgism was invented later, and some prefer the term geoism as more generic.
  • 10.3K
  • 08 Nov 2022
Topic Review
Financial Socialization Theory and Financial Information Literacy
Financial literacy entails possessing and applying financial management skills for efficient and effective financial resource management for individuals’ well-being. While financial literacy is concerned with the possession of adequate financial management skills, financial information literacy entails seeking and possessing adequate knowledge of the existence of financial products and services through diverse information channels.
  • 10.2K
  • 19 Jul 2023
Topic Review
Data Envelopment Analysis (DEA)
Data Envelopment Analysis (DEA) is a non-parametric methodology for measuring the efficiency of Decision Making Units (DMUs) using multiple inputs to outputs configurations. This is the most commonly used tool for frontier estimations in assessments of productivity and efficiency applied to all fields of economic activities.
  • 10.2K
  • 28 Jan 2022
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