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Career and life skills: flexibility and adaptability, initiative and self-direction, social and cross-cultural interaction, productivity and accountability; Many of these skills are also identified as key qualities of progressive education, a pedagogical movement that began in the late nineteenth century and continues in various forms to the ...
Personal initiative (PI) is self-starting and proactive behavior that overcomes barriers to achieve a goal. [1] The concept was developed by Michael Frese and coworkers in the 1990s . The three facets of PI – self-starting, future oriented, and overcoming barriers form a syndrome of proactive behaviors relating to each other empirically.
An economic system consisting of self-managed enterprises is sometimes referred to as a participatory economy, self-managed economy, or cooperative economy. This economic model is a major version of market socialism and decentralized planned economy , stemming from the notion that people should be able to participate in making the decisions ...
Personal responsibility, self-reliance, and mastery – We accept that we are the masters of our own destiny. We make decisions and live with the consequences of them. When a problem needs to be fixed, or an opportunity exploited, we take the initiative to learn the required skills to get it done.
The concept of human development expands upon the notion of economic development to include social, political and even ethical dimensions.Since the mid-twentieth century, international organisations such as the United Nations and the World Bank have adopted human development as a holistic approach to evaluating a country’s progress that considers living conditions, social relations ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The Friedman doctrine is controversial, [1] with critics variously saying it is wrong on financial, economic, legal, social, or moral grounds. [14] [15] It has been criticized by proponents of the stakeholder theory, who believe the Friedman doctrine is inconsistent with the idea of corporate social responsibility to a variety of stakeholders. [16]