Encyclopedia
Scholarly Community
Encyclopedia
Entry
Video
Image
Journal
Book
News
About
Entry
Entry
Video
Image
Log in/Sign up
Submit
Entry
Video
Image
Subject:
All Disciplines
Arts & Humanities
Biology & Life Sciences
Business & Economics
Chemistry & Materials Science
Computer Science & Mathematics
Engineering
Environmental & Earth Sciences
Medicine & Pharmacology
Physical Sciences
Public Health & Healthcare
Social Sciences
Sort:
Hottest
Latest
Alphabetical (A-Z)
Alphabetical (Z-A)
Type:
All
Topic Review
Biography
Topic Review
Herfindahl Index
The Herfindahl index (also known as Herfindahl–Hirschman Index, HHI, or sometimes HHI-score) is a measure of the size of firms in relation to the industry and an indicator of the amount of competition among them. Named after economists Orris C. Herfindahl and Albert O. Hirschman, it is an economic concept widely applied in competition law, antitrust and also technology management. It is defined as the sum of the squares of the market shares of the firms within the industry (sometimes limited to the 50 largest firms), where the market shares are expressed as fractions. The result is proportional to the average market share, weighted by market share. As such, it can range from 0 to 1.0, moving from a huge number of very small firms to a single monopolistic producer. Increases in the Herfindahl index generally indicate a decrease in competition and an increase of market power, whereas decreases indicate the opposite. Alternatively, if whole percentages are used, the index ranges from 0 to 10,000 "points". For example, an index of .25 is the same as 2,500 points. The major benefit of the Herfindahl index in relationship to such measures as the concentration ratio is that it gives more weight to larger firms. The measure is essentially equivalent to the Simpson diversity index, which is a diversity index used in ecology; the inverse participation ratio (IPR) in physics; and the effective number of parties index in politics.
1.2K
19 Oct 2022
Topic Review
Resilience (Organizational)
Organizational resilience is defined as "the ability of a system to withstand changes in its environment and still function". It is a capability that involves organizations either being able to endure the environmental changes without having to permanently adapt, or the organization is forced to adapt a new way of working that better suits the new environmental conditions. In recent years, a new consensus of the concept of resilience emerged as a practical response to the decreasing lifespan of organisations and from the key stakeholders, including boards, governments, regulators, shareholders, staff, suppliers and customers to effectively address the issues of security, preparedness, risk, and survivability. An organization that realizes the benefits of the above definitions of resilience will have a high likelihood of maintaining a successful and thriving enterprise. Previously, it was considered that 'organisational resilience' could only be generated from processes and functions such as Risk Management, Business Continuity, IT Disaster Recovery, Crisis Management, Information Security, Operational continuity, Physical Security and so on. These are recognised as key contributors to operational resilience, and “the positive ability of a system or company to adapt itself to the consequences of a catastrophic failure caused by power outage, a fire, a bomb or similar” event or as "the ability of a [system] to cope with change". However, research from many academics including as Hamel & Valikangas in the Harvard Business Review, Boin, Comfort & Demchak and research facility ResOrgs has influenced understanding and lead to new viewpoints on resilience, including that from the BSI Group, being developed by ISO, the Australian government, ResOrgs, ICSA, and professional services firms such as PwC, all of which recognises that processes and functions are but one element of an organisation's resilience web.
508
19 Oct 2022
Topic Review
Organizational Orientations
Organizational orientation is defined as an individual's predisposition toward work, motivation to work, job satisfaction, and ways of dealing with peers, subordinates, and supervisors on the job (Papa 2008). It can also be referred to the different ways people approach their roles in an organization and the different approaches people have toward work and the place of work in their lives (organizational orientations). Three organizational orientations have been identified as: upward mobile, indifferent, and ambivalent (Goodboy 2007). These three types of orientations are associated with organizational communication behavior and organizational outcomes such as employee job satisfaction and motivation. Presthus believed that these orientations results in employees having different orientations toward work itself, motivation to work, and job satisfaction (McCroskey 1998). These orientations are also believed to be traits, people will have these orientations regardless of the organization they are working for.
658
19 Oct 2022
Topic Review
Online Music Store
An online music store is an online business which sells audio files over the Internet, usually sound recordings of music songs or classical pieces, in which the user pays on a per-song or subscription basis. It may be differentiated from music streaming services in that the online music store sells the purchaser the actual digital music file, while streaming services offer the patron partial or full listening without the actually owning the source file. However, online music stores generally offer partial streaming previews of songs, with some songs even available for full length listening. Online music stores typically show a picture of the album art or of the performer or band for each song. Some online music stores also sell recorded speech files, such as podcasts and video files of movies.
501
19 Oct 2022
Topic Review
Real Estate Bubble
A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and typically follow a land boom. A land boom is the rapid increase in the market price of real property such as housing until they reach unsustainable levels and then decline. This period, during the run up to the crash, is also known as froth. The questions of whether real estate bubbles can be identified and prevented, and whether they have broader macroeconomic significance, are answered differently by schools of economic thought, as detailed below. Bubbles in housing markets are more critical than stock market bubbles. Historically, equity price busts occur on average every 13 years, last for 2.5 years, and result in about 4 percent loss in GDP. Housing price busts are less frequent, but last nearly twice as long and lead to output losses that are twice as large (IMF World Economic Outlook, 2003). A recent laboratory experimental study also shows that, compared to financial markets, real estate markets involve longer boom and bust periods. Prices decline slower because the real estate market is less liquid. The financial crisis of 2007–2008 was related to the bursting of real estate bubbles that had begun in various countries during the 2000s.
891
19 Oct 2022
Topic Review
Ras Al Khaimah
Ras Al Khaimah (Arabic: رأس الخيمة; IPA: [raʔs alˈxajma]), historically known as Julfar, is one of the seven emirates that make up the United Arab Emirates (UAE). The capital city and home of most residents is also called Ras Al Khaimah, sometimes abbreviated as RAK city. Its name could be taken to mean "headland of the small huts", which can be attributed to the indigenous buildings that existed along the coast. The emirate is in the northern part of the UAE, bordering Oman's exclave of Musandam. It covers an area of 2,486 km2 (960 sq mi). The emirate had a population of 210,063 at the 2005 Census, of which 41.82 percent or 87,848 were Emirati citizens. Latest estimates put the total population at between 250,000 and 300,000. Locals accounted for 97,529 in the population estimate for 2010. Its capital city RAK city has two main sections, Old Ras Al Khaimah and Nakheel, on either side of a creek. It is served by the Ras Al Khaimah International Airport. It consists of a northern part (where the city of Ras al-Khaimah is situated), and a large inland exclave in the south (near Hatta), and a few small islands in the Persian Gulf. Ras Al Khaimah has the most fertile soil in the country, due to a larger share in rainfall and underground water streams from Omani mountains.
1.3K
19 Oct 2022
Topic Review
WebSphere Commerce
IBM WebSphere Commerce also known as WCS (WebSphere Commerce Suite) is a software platform framework for e-commerce, including marketing, sales, customer and order processing functionality in a tailorable, integrated package. It is a single, unified platform which offers the ability to do business directly with consumers (B2C), with businesses (B2B), indirectly through channel partners (indirect business models), or all of these simultaneously. WebSphere Commerce is a customizable, scalable and high availability solution built on the Java - Java EE platform using open standards, such as XML, and Web services. IBM WebSphere Commerce is sometimes referred to as WCS, however this abbreviation was originally used as a reference to the platform when it was named WebSphere Commerce Suite. Use of the abbreviation continued with users and solution implementers after the platform was renamed to WebSphere Commerce with the announcement of WebSphere Commerce V5.4.
1.2K
19 Oct 2022
Topic Review
Monetary Policy Committee
The Monetary Policy Committee (MPC) is a committee of the Bank of England, which meets for three and a half days, eight times a year, to decide the official interest rate in the United Kingdom (the Bank of England Base Rate). It is also responsible for directing other aspects of the government's monetary policy framework, such as quantitative easing and forward guidance. The Committee comprises nine members, including the Governor (from 2013 Mark Carney), and is responsible primarily for keeping the Consumer Price Index (CPI) measure of inflation close to a target set by the government (2% per year as of 2016). Its secondary aim – to support growth and employment – was reinforced in March 2013. Announced on 6 May 1997, only five days after that year's General Election, and officially given operational responsibility for setting interest rates in the Bank of England Act 1998, the Committee was designed to be independent of political interference and thus to add credibility to interest rate decisions. Each member has one vote, for which they are held to account: full minutes of each meeting are published alongside the Committee's monetary policy decisions, and members are regularly called before the Treasury Select Committee, as well as speaking to wider audiences at events during the year.
701
19 Oct 2022
Topic Review
The Experience Economy
The term "Experience Economy" was first used in a 1998 article by B. Joseph Pine II and James H. Gilmore describing the experience economy as the next economy following the agrarian economy, the industrial economy, and the most recent service economy. The concept had been previously researched by many authors. Pine and Gilmore argue that businesses must orchestrate memorable events for their customers, and that memory itself becomes the product: the "experience". More advanced experience businesses can begin charging for the value of the "transformation" that an experience offers, e.g., as education offerings might do if they were able to participate in the value that is created by the educated individual. This, they argue, is a natural progression in the value added by the business over and above its inputs. Although the concept of the experience economy was initially focused in business, it has crossed into tourism, architecture, nursing, urban planning and other fields. The Experience Economy is also considered the main underpinning for customer experience management.
696
19 Oct 2022
Topic Review
Superconductivity and Hydrogen Economy
Hydrogen as an energy carrier is a promising alternative to fossil fuels, and it becomes more and more popular in developed countries as a carbon-free fuel. The low boiling temperature of hydrogen (20 K or −253.15 °C) provides a unique opportunity to implement superconductors with a critical temperature above 20 K such as MgB2 or high-temperature superconductors. Superconductors increase efficiency and reduce the loss of energy, which could compensate for the high price of LH2 to some extent. Norway is one of the pioneer countries with adequate infrastructure for using liquid hydrogen in the industry, especially in marine technology where a superconducting propulsion system can make a remarkable impact on its economy. Using superconductors in the motor of a propulsion system can increase its efficiency from 95% to 98% when the motor operates at full power. The difference in efficiency is even greater when the motor does not work at full power.
765
19 Oct 2022
Page
of
170
Featured Entry Collections
>>
Featured Books
>>
Encyclopedia of Social Sciences
Chief Editor:
Michael McAleer
Encyclopedia of COVID-19
Chief Editor:
Stephen Bustin
Encyclopedia of Fungi
Chief Editor:
Luis V. Lopez-Llorca
Encyclopedia of Digital Society, Industry 5.0 and Smart City
Chief Editor:
Sandro Serpa
Entry
Video
Image
Journal
Book
News
About
Log in/Sign up
New Entry
New Video
New Images
About
Terms and Conditions
Privacy Policy
Advisory Board
Contact
Partner
ScholarVision Creations
Feedback
Top
Feedback
×
Help Center
Browse our user manual, common Q&A, author guidelines, etc.
Rate your experience
Let us know your experience and what we could improve.
Report an error
Is something wrong? Please let us know!
Other feedback
Other feedback you would like to report.
×
Did you find what you were looking for?
Love
Like
Neutral
Dislike
Hate
0
/500
Email
Do you agree to share your valuable feedback publicly on
Encyclopedia
’s homepage?
Yes, I agree. Encyclopedia can post it.
No, I do not agree. I would not like to post my testimonial.
Webpage
Upload a screenshot
(Max file size 2MB)
Submit
Back
Close
×