Which of the six macro factors do you believe is the most critical to achieving an improved
Fantastic news! We've Found the answer you've been seeking!
Question:
Which of the six macro factors do you believe is the most critical to achieving an improved quality of life for citizens of developing countries and why?
Transcribed Image Text:
Macro Factors for Understanding the Context of Developing Markets Developing market researchers have identified six important dimensions of developing country contexts for business practitioners, public policy makers, NGOs, and scholars (Shultz et al., 2012). These are (a) culture. (b) population, (c) geography and climate, (d) economy, (e) political system, and (f) infrastructure. Institutions of society are included in the final dimension of developing countries because they are proposed to be 'soft' infrastructure (Khanna and Palepu, 2011). When comparing the lowest income countries in the world with the highest income countries in the world, marked differences become evident. Figure 11.2 depicts such differences in eight social indicators. The inner ring represents the low-income countries, while the outer ring signifies the high-income countries on these indicators using a 0-10 scale with 10 signifying the most favorable rating on these indicators and 0 representing the worst rating. The culture macro factor is represented by the gender development index at the nine o'clock position. This index covers demography, education, health, labor force and employment, and political participation for women. The variables at the top (human development index of income, health, and education) and the bottom (average years of schooling for adults) represent the population macro factor. The geography and climate macro factor is not represented because these are natural endowments and not the result of man-made efforts as the other social indicators are. Employment in services (lower left part of graph) is an indicator of the economy macro-factor. Regulatory quality (three o'clock position on the graph) and days to start a business (upper right part of the graph) represent the political system macro factor. Finally, internet users per 1,000 people (upper left of graph) and total expenditure for research and development expenditures as a percentage of GDP (lower right of graph) represent the infrastructure macro factor. As can be seen by comparing the two rings of the graph, the low-income and high- income countries are very different on these social indicators. Some of the poorest of poor consumers are in these low-income countries. (These will be discussed later in this chapter.) Culture Culture is the learned meaning system of a people group that provides a guide for those in the group about how to think and behave (Cateora, Gilly, and Graham, 2011, p. 102). Values, beliefs, and attitudes are commonly shared by members of a cultural group (Harrison, 2006, p. 6). These can support and promote prosperity because they strongly affect perceptions of individuals and organizations about the way to win (Porter, 2000). Macro Factors for Understanding the Context of Developing Markets Developing market researchers have identified six important dimensions of developing country contexts for business practitioners, public policy makers, NGOs, and scholars (Shultz et al., 2012). These are (a) culture. (b) population, (c) geography and climate, (d) economy, (e) political system, and (f) infrastructure. Institutions of society are included in the final dimension of developing countries because they are proposed to be 'soft' infrastructure (Khanna and Palepu, 2011). When comparing the lowest income countries in the world with the highest income countries in the world, marked differences become evident. Figure 11.2 depicts such differences in eight social indicators. The inner ring represents the low-income countries, while the outer ring signifies the high-income countries on these indicators using a 0-10 scale with 10 signifying the most favorable rating on these indicators and 0 representing the worst rating. The culture macro factor is represented by the gender development index at the nine o'clock position. This index covers demography, education, health, labor force and employment, and political participation for women. The variables at the top (human development index of income, health, and education) and the bottom (average years of schooling for adults) represent the population macro factor. The geography and climate macro factor is not represented because these are natural endowments and not the result of man-made efforts as the other social indicators are. Employment in services (lower left part of graph) is an indicator of the economy macro-factor. Regulatory quality (three o'clock position on the graph) and days to start a business (upper right part of the graph) represent the political system macro factor. Finally, internet users per 1,000 people (upper left of graph) and total expenditure for research and development expenditures as a percentage of GDP (lower right of graph) represent the infrastructure macro factor. As can be seen by comparing the two rings of the graph, the low-income and high- income countries are very different on these social indicators. Some of the poorest of poor consumers are in these low-income countries. (These will be discussed later in this chapter.) Culture Culture is the learned meaning system of a people group that provides a guide for those in the group about how to think and behave (Cateora, Gilly, and Graham, 2011, p. 102). Values, beliefs, and attitudes are commonly shared by members of a cultural group (Harrison, 2006, p. 6). These can support and promote prosperity because they strongly affect perceptions of individuals and organizations about the way to win (Porter, 2000).
Expert Answer:
Related Book For
Auditing Cases An Interactive Learning Approach
ISBN: 9780134421827
7th Edition
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt
Posted Date:
Students also viewed these marketing questions
-
SA-TIED YOUNG SCHOLARS PROGRAMME Young Scholars This paper was produced as a part of the SA-TIED Young Scholars' programme. The programme is a part of SATIED's capacity building initiatives, designed...
-
Risk Analysis and Management of Construction and Operations in Offshore Wind Power Project Abstract: Many countries have increased the use of renewable energy and strongly promoted offshore wind...
-
What is the "ALDI Way" and what was its quest? Take out costs; eliminate complexity Survival; make enough money to pay overhead costs Increase market share; find more prospective customers Build...
-
For the matrix A below, find two different linearly independent sets whose spans equal the column space of A, C(A), such that 1. The elements are each columns of A. 2. The set is obtained by a...
-
Evaluate. Express answers in standard notation. 5 x 10-3 25 10
-
William Stem filed an action against Gary Braden, seeking to rescind a contract for the sale of an automobile and to obtain the return of the purchase price plus interest. The trial court granted...
-
Analyzing inventory reductions at Supervalu On January 12, 2010, Supervalu, Inc., announced it was planning to reduce the number of different items it carries in its inventory by as much as 25...
-
When a company lends money to employees at a rate of 4%, the company will record ______. Multiple choice question. a liability called Accounts Payable a liability called Notes Payable an asset called...
-
David R. and Ella M. Cole (ages 39 and 38, respectively) are husband and wife who live at 1820 Elk Avenue, Denver, CO 80202. David is a self-employed consultant, specializing in retail management and...
-
"It is probably better to have mediocre technical skills and excellent international business communication skills than to have excellent technical skills and poor international business...
-
Current Attempt in Progress Sheridan Corporation acquired a coal mine for $1750000. Intangible development costs totaled $358000. After extraction is completed, Sheridan must restore the property....
-
The assets and liabilities of Japan Mechanics Ltd . as of December 3 1 , 2 0 2 0 , and revenues and expenses for the year ended on that date follow.Interest expense.$ 4 , 0 0 0 Accounts receivable.$...
-
What does "net income attributable to ordinary shareholders" represent? Question 10 options: Gross revenue of the company. Profits available for distribution to common shareholders. Income after...
-
What is meant by the term Merit Pay? How is this concept used as an incentive for performance?
-
GreenSource Company began the period with $ 4 6 0 in supplies. During the month, it purchased an additional $ 1 , 8 0 0 of supplies. A physical inventory at the end of the period revealed that $ 5 6...
-
Accessing and acquiring funding a key resource for entrepreneurial firms is access to financing, yet many entrepreneurs raise money in a haphazard manner simply because they are not experienced at...
-
The May 2014 revenue and cost information for Houston Outfitters, Inc. follow: Sales Revenue (at standard).............. $ 540,000 Cost of Goods Sold (at standard) ..........341,000 Direct Materials...
-
The purchasing officer for The Majestic Emporium has prepared a purchases budget for the financial year ending 31 March 2020, based on the following data. The cost of sales is 65% of sales, and the...
-
Greyt Dog Beds Ltd manufactures dog beds specifically designed for greyhounds and whippets. The company purchases all the required materials from external suppliers and designs and assembles the...
-
Ketton Ltd is in the process of preparing direct labour and factory overhead budgets for the year ending 30 June 2020. Relevant data are set out below. Required (a) Prepare the direct labour budget...
Study smarter with the SolutionInn App