Business The etymology of "business" stems from the idea of being busy, and implies socially valuable and rewarding work. A business can mean a particular organization or a more generalized usage refers to an entire market sector, i.e. "the music business". Compound forms such as agribusiness represent subsets of the word's broader meaning, which encompasses all the activity by all the suppliers of goods and services. Basic forms of business ownership Forms of business ownership vary by jurisdiction, but several common forms exist: Classifications Management The efficient and effective operation of a business, and study of this subject, is called management. Owners may administer their businesses themselves, or employ of managers to do this for them. Restructuring state enterprises In recent decades, various states modeled some of their assets and enterprises after business enterprises. Organization and government regulation Commercial law Capital
Socioeconomics Socioeconomics (also known as socio-economics or social economics) is the social science that studies how economic activity affects and is shaped by social processes. In general it analyzes how societies progress, stagnate, or regress because of their local or regional economy, or the global economy. Overview Socioeconomics is sometimes used as an umbrella term with different usages. The term 'Social economics' may refer broadly to the "use of economics in the study of society For example, the Governor of Washington, Paul Doran, announced the effects of socioeconomics. In many cases, socioeconomists focus on the social impact of some sort of economic change. The goal of socioeconomic study is generally to bring about socioeconomic development, usually by improvements in metrics such as GDP, life expectancy, literacy, levels of employment, etc. See also Notes Jump up ^ John Eatwell, Murray Milgate, and Peter Newman,  1989. References Gustav Cassel,  1932.
Soft Drink Industry Structure The illusion of diversity: visualizing ownership in the soft drink industryPhil Howard,1 Chris Duvall2 and Kirk Goldsberry3August, 2010 BackgroundThree firms control 89% of US soft drink sales . This dominance is obscured from us by the appearance of numerous choices on retailer shelves. Steve Hannaford refers to this as "pseudovariety," or the illusion of diversity, concealing a lack of real choice . To visualize the extent of pseudovariety in this industry we developed a cluster diagram to represent the number of soft drink brands and varieties found in the refrigerator cases of 94 Michigan retailers, along with their ownership and/or licensing connections. Click for zoom.it (scroll in and out) version or extra large versionPDF version of Soft Drink Industry Structure, 2008 ResultsWe recorded 993 varieties of soft drinks. The most successful competitors in these new categories may eventually be bought out. Coca-Cola’s 25 brands and 133 varieties Pepsi’s 17 brands and 161 varieties
Remix culture Remix culture, sometimes read-write culture, is a society that allows and encourages derivative works by combining or editing existing materials to produce a new creative work or product. A remix culture would be, by default, permissive of efforts to improve upon, change, integrate, or otherwise remix the work of copyright holders. While a common practice of artists of all domains throughout human history, the growth of exclusive copyright restrictions in the last several decades limits this practice more and more by the legal chilling effect. As reaction Harvard law professor Lawrence Lessig, who considers remixing a desirable concept for human creativity, works since the early 2000s on a transfer of the remixing concept into the digital age. Lessig founded the Creative Commons in 2001 which released Licenses as tools to enable remix culture again, as remixing is legally prevented by the default exclusive copyright regime applied currently on intellectual property.
Open-source economics First applied to the open-source software industry, this economic model may be applied to a wide range of enterprises. Some characteristics of open-source economics may include: work or investment is carried out without express expectation of return; products or services are produced through collaboration between users and developers; there is no direct individual ownership of the enterprise itself. As of recently there were no known commercial organizations outside of software that employ open-source economics as a structural base. Today there are organizations that provide services and products, or at least instructions for building such services or products, that use an open-source economic model. The structure of open source is based on user participation. See also References External links Yochai Benkler on the new open-source economics
Crowdsourcing Crowdsourcing is a sourcing model in which individuals or organizations obtain goods and services. These services include ideas and finances, from a large, relatively open and often rapidly-evolving group of internet users; it divides work between participants to achieve a cumulative result. The word crowdsourcing itself is a portmanteau of crowd and outsourcing, and was coined in 2005. As a mode of sourcing, crowdsourcing existed prior to the digital age (i.e. There are major differences between crowdsourcing and outsourcing. Some forms of crowdsourcing, such as in "idea competitions" or "innovation contests" provide ways for organizations to learn beyond the "base of minds" provided by their employees (e.g. Definitions The term "crowdsourcing" was coined in 2005 by Jeff Howe and Mark Robinson, editors at Wired, to describe how businesses were using the Internet to "outsource work to the crowd", which quickly led to the portmanteau "crowdsourcing." Examples
Steady state economy A steady state economy is an economy of relatively stable size. It features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Physical features The steady state economy is an entirely physical concept. Economists use gross domestic product or GDP to measure the size of an economy in dollars or some other monetary unit. ...an economy with constant stocks of people and artifacts, maintained at some desired, sufficient levels by low rates of maintenance "throughput", that is, by the lowest feasible flows of matter and energy from the first stage of production to the last stage of consumption A steady state economy, therefore, aims for stable or mildly fluctuating levels in population and consumption of energy and materials. Limits to economic growth History of the concept and Criticisms
Participatory economics Albert and Hahnel stress that parecon is only meant to address an alternative economic theory and must be accompanied by equally important alternative visions in the fields of politics, culture and kinship. The authors have also discussed elements of anarchism in the field of politics, polyculturalism in the field of culture, and feminism in the field of family and gender relations as being possible foundations for future alternative visions in these other spheres of society. Stephen R. Shalom has begun work on a participatory political vision he calls "par polity". Both systems together make up the political philosophy of Participism. Decision-making principle One of the primary propositions of parecon is that all persons should have a say in decisions proportionate to the degree to which they are affected by them. Work in a participatory economy Balanced job complexes Compensation for effort and sacrifice Allocation in a participatory economy Criticisms
Environmental economics Environmental Economics is a sub-field of economics that is concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics program: [...] 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 natural capital can be substituted by human-made capital. Topics and concepts Market failure Externality An externality exists when a person makes a choice that affects other people in a way that is not accounted for in the market price. Common goods and public goods These challenges have long been recognized. Valuation Solutions See also