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Porter Hypothesis
According to the Porter hypothesis, strict environmental regulations can induce efficiency and encourage innovations that help improve commercial competitiveness. The hypothesis was formulated by the economist Michael Porter in an article in 1991. The hypothesis suggests that strict environmental regulation triggers the discovery and introduction of cleaner technologies and environmental improvements, the innovation effect, making production processes and products more efficient. The cost savings that can be achieved are sufficient to overcompensate for both the compliance costs directly attributed to new regulations and the innovation costs. In the first mover advantage, a company is able to exploit innovation by learning curve effects or patenting and attains a dominating competitive position compared to companies in countries where environmental regulations were enforced much later. The Porter hypothesis has been applied to REACH. In one conclusion, companies that adopt a cost ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Regulation
Environmental law is a collective term encompassing aspects of the law that provide protection to the environment. A related but distinct set of regulatory regimes, now strongly influenced by environmental Legal doctrine, legal principles, focus on the management of specific natural resources, such as forests, minerals, or fisheries. Other areas, such as environmental impact assessment, may not fit neatly into either category, but are nonetheless important components of environmental law. History Early examples of legal enactments designed to consciously preserve the environment, for its own sake or human enjoyment, are found throughout history. In the common law, the primary protection was found in the law of Nuisance in English law, nuisance, but this only allowed for private actions for damages or injunctions if there was harm to land. Thus, smells emanating from pig sty, pigsties, strict liability against dumping rubbish, or damage from exploding dams. Private enforcement, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Porter
Michael Eugene Porter (born May 23, 1947) is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and he was one of the founders of the consulting firm The Monitor Group (now part of Deloitte) and FSG, a social impact consultancy. He is credited for creating Porter's five forces analysis, which is instrumental in business strategy development at present. He is generally regarded and hailed as the father of the modern strategy field. He is also regarded as one of the world's most influential thinkers on management and competitiveness as well as one of the most influential business strategists the world has ever seen. He is the most sought after research scholar and his work has been highly recognised by governments, non governmental organisations and universities. Early life Michael Porter's father was a civil engineer and Georgia Tech graduate who had go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Access (publishing)
Open access (OA) is a set of principles and a range of practices through which research outputs are distributed online, free of access charges or other barriers. With open access strictly defined (according to the 2001 definition), or libre open access, barriers to copying or reuse are also reduced or removed by applying an open license for copyright. The main focus of the open access movement is "peer reviewed research literature". Historically, this has centered mainly on print-based academic journals. Whereas non-open access journals cover publishing costs through access tolls such as subscriptions, site licenses or pay-per-view charges, open-access journals are characterised by funding models which do not require the reader to pay to read the journal's contents, relying instead on author fees or on public funding, subsidies and sponsorships. Open access can be applied to all forms of published research output, including peer-reviewed and non peer-reviewed academic journal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Mover Advantage
In marketing strategy, first-mover advantage (FMA) is the competitive advantage gained by the initial ("first-moving") significant occupant of a market segment. First-mover advantage enables a company or firm to establish strong brand recognition, customer loyalty, and early purchase of resources before other competitors enter the market segment. First movers in a specific industry are almost always followed by competitors that attempt to capitalise on the first movers' success. These followers are also aiming to gain market share; however, most of the time the first-movers will already have an established market share, with a loyal customer base that allows them to maintain their market share. Mechanisms leading to first-mover advantages The three primary sources of a first-mover advantage are technology leadership, control of resources, and buyer switching costs. Technology leadership First movers can make their technology/product/services harder for later entrants to replicat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Learning Curve
A learning curve is a graphical representation of the relationship between how Skill, proficient people are at a task and the amount of experience they have. Proficiency (measured on the vertical axis) usually increases with increased experience (the horizontal axis), that is to say, the more someone, groups, companies or industries perform a task, the better their performance at the task.Compare: The common expression "a steep learning curve" is a misnomer suggesting that an activity is difficult to learn and that expending much effort does not increase proficiency by much, although a learning curve with a steep start actually represents rapid progress., see the "Discussions" section, Dr. Smith's remark about the usage of the term "steep learning curve": "First, semantics. A steep learning curve is one where you gain proficiency over a short number of trials. That means the curve is steep. I think semantically we are really talking about a prolonged or long learning curve. I kn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patent
A patent is a type of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of time in exchange for publishing an enabling disclosure of the invention."A patent is not the grant of a right to make or use or sell. It does not, directly or indirectly, imply any such right. It grants only the right to exclude others. The supposition that a right to make is created by the patent grant is obviously inconsistent with the established distinctions between generic and specific patents, and with the well-known fact that a very considerable portion of the patents granted are in a field covered by a former relatively generic or basic patent, are tributary to such earlier patent, and cannot be practiced unless by license thereunder." – ''Herman v. Youngstown Car Mfg. Co.'', 191 F. 579, 584–85, 112 CCA 185 (6th Cir. 1911) In most countries, patent rights fall under private law and the patent holder mus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Registration, Evaluation And Authorization Of Chemicals
Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) is a European Union regulation dating from 18 December 2006. REACH addresses the production and use of chemical substances, and their potential impacts on both human health and the environment. Its 849 pages took seven years to pass, and it has been described as the most complex legislation in the Union's history and the most important in 20 years. It is the strictest law to date regulating chemical substances and will affect industries throughout the world. REACH entered into force on 1 June 2007, with a phased implementation over the next decade. The regulation also established the European Chemicals Agency, which manages the technical, scientific and administrative aspects of REACH. Overview When REACH is fully in force, it will require all companies manufacturing or importing chemical substances into the European Union in quantities of one tonne or more per year to register these substances with a n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Leadership
In business strategy, cost leadership is establishing a competitive advantage by having the lowest cost of operation in the industry. Cost leadership is often driven by company efficiency, size, scale, scope and cumulative experience (learning curve). A ''cost leadership strategy'' aims to exploit scale of production, well-defined scope and other economies (e.g., a good purchasing approach), producing highly standardized products, using advanced technology. In recent years, more and more companies have chosen a strategic mix to achieve market leadership. These patterns consist of simultaneous cost leadership, superior customer service and product leadership. Walmart has succeeded across the world due to its cost leadership strategy. The company has cut down on excesses at every point of production and thus are able to provide the consumers with quality products at low prices. Cost leadership is different from price leadership. A company could be the lowest cost producer yet not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Strategy
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies three principles underlying strategy: * creating a " uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Differentiation
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products. The concept was proposed by Edward Chamberlin in his 1933 book, '' The Theory of Monopolistic Competition''. Rationale Firms have different resource endowments that enable them to construct specific competitive advantages over competitors. Resource endowments allow firms to be different, which reduces competition and makes it possible to reach new segments of the market. Thus, differentiation is the process of distinguishing the differences of a product or offering from others, to make it more attractive to a particular target market. Although research in a niche market may result in changing a product in order to improve differentiation, the changes themselves are not diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition (economics)
In economics, competition is a scenario where different Economic agent, economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm. are in contention to obtain goods that are limited by varying the elements of the Marketing mix for product software, marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly). The level of competition that exists within the market is dependent on a variety of factors both on the firm/ seller side; the number of firms, barriers to entry, infor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Economics
Environmental economics is a sub-field of economics concerned with environmental issues. It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Environmental economics "undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. ... Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming." Environmental economics is distinguished from ecological economics in that ecological economics emphasizes the economy as a subsystem of the ecosystem with its focus upon preserving natural capital. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing "strong" sustainability and rejecting the proposition that human-made ("physical") capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
