Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Introduction To Economic Growth Add in library

expert-image Norman Nolan 5/5 hire me
249 Download2 Pages 353 Words

Question:

1-How can growth be measure?

2- Approaches to studying growth?

Economic approach

Social network approach to business growth

Managerial approaches

3- How do small firms grow?which is ( greiners'1972 stage growth model)?

4-Strategies to overcome growth?
 
 

Answer:

1. Economic growth can measured in terms of increase in the value of the output produced by the firms in a given time frame. Growth of firms is attributed to several factors like market economy, fiscal conditions, and supply and demand. The need for the product and the intensive growth of GDP to population defines the growth of a sector or industry. Many nations though have extensive resources but the growth gets restricted due to a weak GDP.
 
2. Growth can be measured through many methods. Some of the prominent methods are as following:

Economic approach: This method focuses on the economic methods like GDP, GNP and value of goods produced etc. This method basically tries to understand growth more from a quantitative standpoint.

Social network approach: This method tries to understand the interaction between individuals and organizations. This method tries to explore the various connections and complex structure of how people and society interact with organizations and create awareness about the products and growth cycles I the long run.

Managerial approach: This method tries to focuses on the growth through economic analysis and application of various econometric tools in a systematic and efficient way.

3. Greiner’s growth model is based on five stages. They are as follows:

a. Growth through creativity

b. Growth through direction

c. Growth through delegation

d. Growth through coordination

e. Growth through alliance

According to Greiner small firms need to follow these steps to promote growth in the long run.

4. Growth barriers can be overcome through strategic planning and proper allocation of resources and by efficient usage of economic tools and analysis which can make every organizations stay on the top of the world in spite of difficult situations in the business cycle.

 

References:

Jones, Charles I; 2012 Introduction to Economic Growth, W.W. Norton and Co., Second Edition, New York

Romer, David; 2006 Advanced Macroeconomics: McGraw-Hill, New York

OR

MyAssignmenthelp.com has become one of the leading assignment help provider in New York City and Boston. We provide top class auditing assignment help. Not only auditing, but we also cover more than 100 subjects and our writers deal with all types of assignments with utmost expertise. To make writing process faster and accurate, we have segmented our assignment experts' teams as per their expertise on writing different types of assignments. We guaranteed that students who buy our assignment online get solutions worth their investment.

Most Downloaded Sample of Economics

345 Download1 Pages 120 Words

Explain Why Firms’ Marginal Cost Curves Become Upward Sloping After A Certain Level Of Output Has Been Reached.

  Explain why firms’ marginal cost curves become upward sloping after a certain level of output has been reached. test While for the margina...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
219 Download6 Pages 1,422 Words

Economics Assignment

Corrective Measures of Balance of Payment Deficits Balance of Payment (BoP) is a system followed by countries to keep an account of their income and expenditures. ...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
341 Download7 Pages 1,639 Words

Economics Assignments

Introduction The assignment has two parts. The first part is related to the theories of micro economics. Micro economics analysis is based on the theory of law of ...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
72 Download11 Pages 2,554 Words

Sports Economics

Introduction Every organization and every event needs to be structured properly for successful completion and evaluation. Whether it is business or sports, the app...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
221 Download11 Pages 2,563 Words

Business Economics Assignment

Introduction Every organization and every event needs to be structured properly for successful completion and evaluation. Whether it is business or sports, the app...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
Next
Free plagiarismFree plagiarism check online on mobile
Have any Query?