A robust society is built upon the principles of compassion, support, and equity. The social welfare system, often referred to as the safety net, is a fundamental pillar that upholds these values by providing essential assistance and services to individuals and families facing various life challenges. In this blog post, …

Structural unemployment is a common phenomenon in every economy. It can be seen during technological advances, changing government policies, or globalization, where the skills of employees’ skills and job requirements don’t match. It is a crucial issue for the economy, as it affects those with low education or skills who …

Every product at some point in time sees some ups and downs due to many reasons such as economic factors, demand, supply, etc… When the product no longer remains desirable, for example, due to price hikes, people tend to switch to a substitute product with similar features. This phenomenon is …

What is protectionism? Protectionism is an economic strategy that governments employ to shield domestic industries and businesses from foreign competition. While it aims to foster local production and safeguard jobs, protectionism often raises complex debates about its impact on international trade, consumers, and global economies. In this blog post, we …

When it comes to manufacturing, different types of approaches can take place. One popular approach is vertical integration – this involves the company controlling different aspects of the production process, from raw materials to the finished product. Through this approach, a company can more closely manage its operations and costs. …

Distribution networks are an essential aspect of any business that involves the sale and transportation of goods. Without a proper distribution network, it can be difficult to transport products from the supplier to the customer. These networks provide a way for businesses to efficiently deliver goods and services, while also …

A supply chain is a common term when it comes to business operations. It encompasses all the activities that are required to deliver a product or service from the source of raw materials and suppliers, through production, packaging, and distribution, ultimately to the customer. A successful supply chain can lead …

To generate more money in the economy and make it easier for businesses to operate, deregulation is known as one of the major economic changes that have been implemented in many countries. Deregulation involves removing or reducing government regulations on an industry or sector, allowing businesses to operate with fewer …

Comparative advantage is a fundamental concept in the field of economics. It’s an important concept when looking at international trade as well as domestic trade. Products that are produced at lower cost in one country compared to another, are said to have a comparative advantage. This can be an important …

Management theories serve as essential tools for navigating the complex world of organizational leadership. Different strategies, frameworks, and guidelines have been made to help organizations solve their problems. Successful professionals don’t just use one management theory. They pick the ideas that fit their team and company from different theories. Multiple …