Understand the Economic System

Why? The economy is the external environment in which you compete as a business, it is one of the most misunderstood parts of our social system, and it is where opportunities exist for businesses and people to succeed. A good business plan starts with an understanding of how the economy (global, national and local) is performing; therefore, you need to understand how the system actually works. Here is an overview of key concepts and history to examine the significant opportunities or issues in today's business environment. Read the article relating to Capitalism Definition.

Quote of the day

The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
Warren Buffett (investor).




Imagine career success and a balanced lifestyle. This blog is dedicated to the people in a business-related field who are willing to make an investment of their time and minds to on-going personal and career development. How?

1) Start here to find weekly postings to stay informed of the most significant business news with a brief analysis.

2) Learn additional how-to skills complementary to what is taught in business school, experienced on the job, or received in job training. Written by practicing business professionals to support your life-long learning.

3) Get connected with some of the best potential employers and share critical information with each other that gives you an edge in a career search.

4) Learn from the best business leaders by reviewing summaries of their management experiences and lessons.

5) Think in terms of the big picture and imagine the macro technology innovations, management and economic trends.

6) Find a few business opportunities to gain experience to improve your skills for the first or next job.
Capitalism Definition
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Capitalism Definition
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Capitalism Definition
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Creative Destruction

Creative destruction is an economic concept essentially saying that industries come and go over time due to the evolutionary process of new technologies displacing old technologies. For example, Smart Phones with advanced computing features are displacing some key functions and uses of the Personal Computer, which displaced some key functions and uses of the Mainframe computer. What is the role of technology and innovation in the economic system? Read the article

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