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Human development theory is a theory which uses ideas from different origins, such as ecology, sustainable development, feminism and welfare economics. It wants to avoid normative politics and is focused on how social capital and instructional capital can be deployed to optimize the overall value of human capital in an economy.
Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. [1] It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. [2]
Job creation and retention through specific efforts in business finance, marketing, neighborhood development, workforce development, small business development, business retention and expansion, [24] technology transfer, and real estate development. This third category is a primary focus of economic development professionals.
Another work defines business ecology as “a new field for sustainable organizational management and design,” one “that is based on the principle that organizations, as living organisms, are most successful when their development and behavior are aligned with their core purpose and values – what we call “social DNA’”.
Such a situation runs counter to neo-classical economic theory. The neo-classical market is instantaneous, forbidding the development of extended agent-principal (employee-manager) relationships, planning, and of trust. Coase concludes that “a firm is likely therefore to emerge in those cases where a very short-term contract would be ...
The production theory states that a business will strive to employ the cheapest combination of inputs to produce the quantity demanded. The production function can be described in its simplest form by the function Q = F [ L , K ] {\displaystyle Q=F[L,K]} where Q denotes the firm's production, L is the variable inputs and K is the fixed inputs.
Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale distribution and transfer (exchange through buying and selling) of goods and services at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local ...
The theory originates from the work of Raymond Vernon, who described the development of international trade in terms of product life-cycle – a period of time during which the product circulates in the market. Vernon stated that some countries specialize in the production and export of technologically new products, while others specialize in ...