Competition lawCompetition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts) is commonly known as trust busting. The history of competition law reaches back to the Roman Empire.
Strategic planningStrategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Cournot competitionCournot competition is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot (1801–1877) who was inspired by observing competition in a spring water duopoly. It has the following features: There is more than one firm and all firms produce a homogeneous product, i.e., there is no product differentiation; Firms do not cooperate, i.
Knowledge marketA knowledge market is a mechanism for distributing knowledge resources. There are two views on knowledge and how knowledge markets can function. One view uses a legal construct of intellectual property to make knowledge a typical scarce resource, so the traditional commodity market mechanism can be applied directly to distribute it. An alternative model is based on treating knowledge as a public good and hence encouraging free sharing of knowledge. This is often referred to as attention economy.
Knowledge managementKnowledge management (KM) is the collection of methods relating to creating, sharing, using and managing the knowledge and information of an organization. It refers to a multidisciplinary approach to achieve organizational objectives by making the best use of knowledge. An established discipline since 1991, KM includes courses taught in the fields of business administration, information systems, management, library, and information science. Other fields may contribute to KM research, including information and media, computer science, public health and public policy.
Causal loop diagramA causal loop diagram (CLD) is a causal diagram that aids in visualizing how different variables in a system are causally interrelated. The diagram consists of a set of words and arrows. Causal loop diagrams are accompanied by a narrative which describes the causally closed situation the CLD describes. Closed loops, or causal feedback loops, in the diagram are very important features of CLDs. The words with arrows coming in and out represent variables, or quantities whose value changes over time and the links represent a causal relationship between the two variables (i.
Tacit knowledgeTacit knowledge or implicit knowledge—as opposed to formal, codified or explicit knowledge—is knowledge that is difficult to express or extract; therefore it is more difficult to transfer to others by means of writing it down or verbalizing it. This can include motor skills, personal wisdom, experience, insight, and intuition. For example, knowing that London is in the United Kingdom is a piece of explicit knowledge; it can be written down, transmitted, and understood by a recipient.
Marketing strategyMarketing strategy is an organization's promotional efforts to allocate its resources across a wide range of platforms, channels to increase its sales and achieve sustainable competitive advantage within its corresponding market. Strategic marketing emerged in the 1970s and 80s as a distinct field of study, branching out of strategic management. Marketing strategy highlights the role of marketing as a link between the organization and its customers, leveraging the combination of resources and capabilities within an organization to achieve a competitive advantage (Cacciolatti & Lee, 2016).
Natural experimentA natural experiment is a study in which individuals (or clusters of individuals) are exposed to the experimental and control conditions that are determined by nature or by other factors outside the control of the investigators. The process governing the exposures arguably resembles random assignment. Thus, natural experiments are observational studies and are not controlled in the traditional sense of a randomized experiment (an intervention study).
Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
