Target Economic Regions

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Teacher: Madeleine Vakkuri

Study material: ? + Moodle

Week 1 - Introduction

• A developed country, industrialized country, or "more economically developed country" (MEDC), is a sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. ( Wikipedia )

• An emerging market is a country that has some characteristics of a developed market but is not yet a developed market. This includes countries that may be developed markets in the future or were in the past. ( Wikipedia )

• The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists. ( Wikipedia )

• A developing country, also called a less-developed country, is a nation with a lower living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries. ( Wikipedia )

Groupings:

• • BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The grouping was originally known as "BRIC" before the inclusion of South Africa in 2010. ( Wikipedia )
  • G8+5
  • G-20 major economies
  • G20 developing nations
  • BRIC / MINT / Next Eleven
  • Emerging and growth-leading economies
  • CIVETS
  • VISTA

Further reading on newly industrialized countries

• • Science in newly industrialized countries
  • North–South divide

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Week 2 - Reputation, image and brand

• Reputation of a social entity (a person, a social group, an organization) is an opinion about that entity, typically a result of social evaluation on a set of criteria. It is important in business, education, online communities, and many other fields.

Reputation may be considered as a component of identity as defined by others.

Reputation is known to be a ubiquitous, spontaneous, and highly efficient mechanism of social control in natural societies. ( Wikipedia )

• • Reputation management is the understanding or influencing of an individual's or business's reputation. It was originally coined as a public relations term, but advancement in computing, the internet and social media made it primarily an issue of search results. Some parts of reputation management are often associated with ethical grey areas, such as w:astroturfing review sites, censoring negative complaints or using SEO tactics to game the system and influence results. ( Wikipedia )

• Identity (social science) is a person's conception and expression of their own (self-identity) and others' individuality or group affiliations (such as corporate identity, national identity and cultural identity). ( Wikipedia )

• A corporate identity is the overall image of a corporation or firm or business in the minds of diverse publics, such as customers and investors and employees. It is a primary task of the corporate communications department to maintain and build this identity to accord with and facilitate the attainment of business objectives. It is usually visibly manifested by way of branding and the use of trademarks. ( Wikipedia )
• Brand identity is the outward expression of a brand – including its name, trademark, communications, and visual appearance ( Wikipedia )

• Brand is the "name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers." ( Wikipedia )

• Brand management is a communication function in marketing that includes analysis and planning on how that brand is positioned in the market, which target public the brand is targeted at, and maintaining a desired reputation of the brand. ( Wikipedia )

• Brand implementation refers to the physical representation and consistent application of brand identity across visual and verbal media. In visual terms, this can include signage, uniforms, liveries, interior design and branded merchandise. ( Wikipedia )

• Sustainability brands are products and services that are branded to signify a special added value in terms of environmental and social benefits to the customer and thus enable the differentiation from competitors. ( Wikipedia )

• Nation branding aims to measure, build and manage the reputation of countries (closely related to place branding). ( Wikipedia )

• • Poland - Polska promotion shown by teacher
  • What the Finns need to know about Portugal shown by teacher

• Positioning (marketing) is the marketing activity and process of identifying a market problem or opportunity, and developing a solution based on market research, segmentation and supporting data. ( Wikipedia )

• Cornelis Bernardus Maria (Cees) van Riel (born June 15, 1951) is a Dutch organizational theorist, consultant, and Professor of Corporate Communication at Rotterdam School of Management and Director of the Corporate Communication Centre at the Erasmus University, known for his work in the area of corporate communication and reputation management. ( Wikipedia )

He is most known for his work on the RepTrak Model and RepTrak Alignment Monitor.

Van Riel co-founded The Reputation Institute in 1997.

• The country-of-origin effect (COE), also known as the made-in image and the nationality bias, is a psychological effect describing how consumers' attitudes, perceptions and purchasing decisions are influenced by products' country of origin labeling. ( Wikipedia )

• Country of origin (COO), is the country of manufacture, production, or growth where an article or product comes from. There are differing rules of origin under various national laws and international treaties. ( Wikipedia )

• Rules of origin are used to determine the country of origin of a product for purposes of international trade. ( Wikipedia )

• The 3 Ts for urban development: tolerance, technology and talent ( Teacher )

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Week 3 - Topic What does it take to enter foreign markets?

• http://globaledge.msu.edu/comparator - Compare indicators across countries

• The Gini coefficient (also known as the Gini index or Gini ratio) is a measure of statistical dispersion intended to represent the income distribution of a nation's residents. This is the most commonly used measure of inequality. The coefficient varies between 0, which reflects complete equality and 100 (or 1), which indicates complete inequality (one person has all the income or consumption, all others have none). ( Wikipedia )

• Salesforce.com Inc. is a global cloud computing company headquartered in San Francisco, California. Though best known for its customer relationship management (CRM) product, Salesforce.com has also expanded into commercial applications of social networking through acquisition. ( Wikipedia )

Week 4 - Topic Market Intelligence & Industry Analysis for a Competitive Edge

• An industry analyst performs primary and secondary market research within an industry such as information technology, consulting or insurance. ( Wikipedia )

• Marketing Research is "the process or set of processes that links the consumers, customers, and end users to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. ( Wikipedia )

• Marketing intelligence is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics. Marketing intelligence is necessary when entering a foreign market. ( Wikipedia )

• Market intelligence is the information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy, and market development. ( Wikipedia )

• Competitive intelligence is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers making strategic decisions for an organization. ( Wikipedia )

Week 5 - Getting to Know EU for Business

• Enterprise Europe Network is the largest information and consultancy network in Europe. The aim of the network is to help small business to make the most of the European marketplace. Enterprise Europe Network is a focal point network consisting of 600 organizations - chambers of commerce, regional development agencies, university technology centers, where about 4000 professionals are working in over 40 countries worldwide. Enterprise Europe Network Staff assist small business in sourcing new business & technology partners in Europe and advise them on accessing EU Funding. ( Wikipedia )

• The Erasmus Programme (European Community Action Scheme for the Mobility of University Students is a European Union (EU) student exchange programme established in 1987. ( Wikipedia )

• RSA Animate - Crises of Capitalism

• M-Pesa (M for mobile, pesa is Swahili for money) is a mobile-phone based money transfer and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania. It has since expanded to Afghanistan, South Africa, India and in 2014 to Eastern Europe. M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device. ( Wikipedia )

EU legislations

• Primary legislation:

• • treaties are agreements under international law entered into by actors in international law, namely sovereign states and international organizations. ( Wikipedia )

• Secondary legislation:

• • Regulation is a rule or law designed to control or govern conduct. In statist mechanisms it can also be extended to monitoring and enforcement of rules as established by primary and/or delegated legislation. ( Wikipedia )
  • directives are legal acts of the European Union, which requires member states to achieve a particular result without dictating the means of achieving that result. ( Wikipedia )
  • decisions - In European Union law, a decision is a legal instrument which is binding upon those individuals to which it is addressed. ( Wikipedia )
  • recommendations
  • options ( Teacher )

Week 7 - Trade & Intellectual Property

• Refresh Intellectual property from International Law course

• Internal market in the European Union (sometimes known as the single market, formerly the common market) seeks to guarantee the free movement of goods, capital, services, and people – the EU's "four freedoms" – within the EU's 28 member states. ( Wikipedia )

• The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade ( Wikipedia )

• Non-tariff barriers to trade are trade barriers that restrict imports, but are unlike the usual form of a tariff.

Some common examples of NTB's are anti-dumping measures and countervailing duties, which, although called non-tariff barriers, have the effect of tariffs once they are enacted. ( Wikipedia )

• The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. ( Wikipedia )

• The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international agreement administered by the World Trade Organization (WTO) that sets down minimum standards for many forms of intellectual property (IP) regulation as applied to nationals of other WTO Members. ( Wikipedia on TRIPS Agreement )

Week 8 - Emerging economies

• RECAP from week 1: An emerging market is a country that has some characteristics of a developed market but is not yet a developed market. This includes countries that may be developed markets in the future or were in the past. ( Wikipedia )

Week 9 - Urbanization

• Urbanization is a population shift from rural to urban areas, and the ways in which society adapts to the change. ( Wikipedia )

• Trends come in different sizes. A mega-trend extends over many generations, and in cases of climate, mega-trends can cover periods prior to human existence. ( Wikipedia on Future studies )

• A megacity is usually defined as a metropolitan area with a total population in excess of ten million people. ( Wikipedia )

• A ghost town is an abandoned village, town or city, usually one which contains substantial visible remains. A town often becomes a ghost town because the economic activity that supported it has failed, or due to natural or human-caused disasters such as floods, government actions, uncontrolled lawlessness, war, or nuclear disasters. ( Wikipedia )

Week 10 - Bottom of Pyramid

• In economics, the bottom of the pyramid is the largest, but poorest socio-economic group. In global terms, this is the 3 billion people who live on less than US$2.50 per day. The phrase “bottom of the pyramid” is used in particular by people developing new models of doing business that deliberately target that demographic, often using new technology. This field is also often referred to as the "Base of the Pyramid" or just the "BoP".

OBS. teacher gave limit of $5 / d income, not $2.50 given by the Wikipedia article