Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Impact of Innovation on Economic Perfomance on Micro and Macro Level - Essay Example

Comments (0) Cite this document
This essay talks about the ever-increasing role of innovation on different levels of the modern economy. Technology is regarded as a key factor in the developing of an economy, in the securing of jobs for the population, and most certainly in determining the level of economic welfare in a country…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
Impact of Innovation on Economic Perfomance on Micro and Macro Level
Read Text Preview

Extract of sample "Impact of Innovation on Economic Perfomance on Micro and Macro Level"

Download file to see previous pages This essay is one of the best examples of comprehensive theoretic analysis of the mechanism of the impact of technology changes on the competitiveness of a company or an entire economy of a country. The tighter and more competitive business environment is driving firms to innovate in order to maintain their existence as a market player. However, as more firms innovate, the struggle to maintain their share in the market in turn gets other firms to innovate, capturing everybody to be part of a complex economic cycle.
A source of new technology is the society’s search for increased economic efficiency and a sincere desire to reduce the cost that it has to pay for the availability of goods. Whether the purpose of the technology is to improve its effective use of available natural resources or to increase or alter the supply of available resources, it has impacted what people buy (hence created new demand types), what they choose to do with their time (leading to new market for leisure events), what jobs are lost due to changes in the overall economic mix, and possibly the price of other goods that compete with the products, that were produced using new technology.
Research, entrepreneurship, new start-ups, consolidation of businesses, interaction with other companies and financial markets create an environment that is conclusive to innovations. Novel trends in innovative activities are impacted by new technologies, modifications in the existing knowledge base, as well as changes in consumer needs.
...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“Impact of Innovation on Economic Perfomance on Micro and Macro Level Essay”, n.d.)
Impact of Innovation on Economic Perfomance on Micro and Macro Level Essay. Retrieved from
(Impact of Innovation on Economic Perfomance on Micro and Macro Level Essay)
Impact of Innovation on Economic Perfomance on Micro and Macro Level Essay.
“Impact of Innovation on Economic Perfomance on Micro and Macro Level Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Impact of Innovation on Economic Perfomance on Micro and Macro Level

MIcro and Macro Economic Analysis

... Task Micro and Macro Economic Analysis a) Explain The Relevant Demand And Supply Factors That Affect The Sales And The Profitability Of The Chosen Product/Company The company of my choice is the British Petroleum Industry which deals with oil/petroleum products. It is also a company that is listed in the stock exchange and has been performing quite well in recent years. The demand for petroleum products is mainly influenced by their prices and the growth rates being witnessed around the world. Many countries have achieved tremendous population growths and require to support their manufacturing industries that mainly depend on petroleum products. Speculations in the prices of oil causes the demand to rise or fall in various times...
5 Pages (1250 words) Assignment

Micro & Macro Economic Analysis - Electronic Arts

...? Micro & Macro Economic Analysis – Electronic Arts Micro & Macro-Economic Analysis – ElectronicArts The concerned report explains the dynamics of the Demand and Supply theory of a product, the market structure in which the company exists and the elasticity of its products. The report has been divided into two major sections, analyzing the impacts produced on Micro and Macro economy of a company and its market. Further the report, details aspects relating to the efficient use of resources and strategies that can be opted to attain competitive advantage. In Economics, the relationship between a prospective seller and buyer of a product is known as demand and supply. The price of a product is directly proportional to its demand. This means...
8 Pages (2000 words) Coursework

Macro & Micro Economics

...? Macro & Micro economics Table of Contents Money Growth and Inflation 3 Article Content- Federal Reserve Bank’s Evans Says Guidance on Tightening Can Control Inflation 3 Reference of article to theory- Monetary Growth and Inflation 4 Reference 7 Money Growth and Inflation Article Content- Federal Reserve Bank’s Evans Says Guidance on Tightening Can Control Inflation Charles Evans, who is the President of the Federal Reserve Bank of Chicago, has put forth that the Central Bank would be able to curb inflation to a considerable extent as the economic growth continues through such changes which will raise the rate of interest. He is of the opinion that the considerable amount of accommodation which is required for maintaining the funds rate...
4 Pages (1000 words) Essay

Macro & Micro Economics

...? macro & micro economics Contents Introduction 3 Current UK housing market 3 Macro and Micro economic factors 5 Current economic situation and effects on housing market 8 Conclusion 9 Reference 10 Introduction The main participants in the real estate market are owner, renter, developer, renovator and facilitator. The demand side of the market comprises of the owner and the renter while the supply side comprises of the developer as well as the renovator. In order to analyze the demand and the supply factors a number of modifications need to be implemented in the microeconomic assumptions. The characteristics of the market include durability, heterogeneity, high costs of transaction, long time delays, an investment as well as a consumption...
8 Pages (2000 words) Essay

Macro & Micro economics (Economics)

...?Macro & Micro Economics (Economics) Table of Contents (A) Explain why perfectly competitive markets lead to an allocative efficient allocation of resources in the long run. 3 (B) Explain why free markets will under-produce goods with positive externalities (e.g. vaccinations against infectious diseases). Briefly suggest how government might intervene to correct this under-provision? 5 (C) The Consumer Price Index (CPI) is the official measure of inflation in the United Kingdom. Why might CPI not be an accurate measure of the costs of living for any given individual consumer? 6 (E) If an economy is initially operating at its potential output, explain the short and long- run consequences of a permanent increase in government spending. 9...
5 Pages (1250 words) Essay

Macro & Micro economics

...? Macro & Micro economics Introduction This paper presents an analysis of an article d “China economic growth lower than forecast” published on 15 April 2013 by BBC. This report explains that China’s growth rate has been lesser than the growth rate that the country had experienced in last three months of 2012 (in the first quarter of 2013 Chinese economy grew at the rate of 7.7% while it was 7.9% in October-December quarter of 2012). The report also comments on the Government of China’s policy actions that are aimed at boosting the growth rate of the country’s economy (BBC, 2013). China's economy is the second-largest economy in the world. Currently, the country’s GDP has been estimated to be $12.38 trillion (according to the 2012 estimate...
6 Pages (1500 words) Essay

Micro and macro economic on us trade

...? MICRO AND MACRO ECONOMIC ON US TRADE This paper defines in detail what Macroeconomics and Microeconomics are about and what their impacts on the economy of a country are. We have taken into account the impact the two kinds of economies create on U.S. trade and why is it important for the survival of the nation. MICRO ECONOMICS Microeconomics pertains to the economic decision and choices that are made by individual consumers, firms and industries and the impact it has on the allocation of resources, demand and supply in economies of the market. As demand and supply determines the prices of goods and services available in the market, microeconomics also defines how prices feature in various economic decisions and vice versa. Micro...
4 Pages (1000 words) Essay


...? MACRO AND MICRO ECONOMICS By: Presented (Due Command/ Centrally-planned Economy Introduction A command economy one in which the coordination of economic activities (supply and price) are controlled through administrative means rather than market mechanisms. The economic agents particularly the production organizations operate as directed by the governments in place; the government decides which goods are produced the amount, as well as distribution. Advantages of Command Economy 1. Facilitates the realization of an economy’s long term goals and objectives hence rapid development Central to the command economy is “a central planning authority” (Fernando 2011, p.115). In this kind of economy, the state establishes development goals...
5 Pages (1250 words) Research Paper

Macro & Micro Environmental Analysis

.... The supply chain can utilise sources across the world thus allowing operations to drive down costs by sourcing from cheapest possible suppliers. With increased focus on differentiation and mass customisation, mass marketing is no longer a viable option. Economic impact of this impinges upon cost structures. Economic impact of the ageing population should also be considered. The world in near future will be supporting over 50% of the aged population through less than 35% of productive workforce. The implications on economy in terms of lower levels of income generation will be drastic. Overall, the assessment of the macro environment through a SEPTCLE analysis provided an insight in to the changing trends that will impact upon...
15 Pages (3750 words) Essay

A Six Stage Model of the Innovation Process

This paper will focus on the relationship and impact and innovation will have on politics. The backbone of the paper will be the strong opinion of Professor Langdon Winner who teaches at the Department of Science and Technology Studies. He has said that “technical things have political qualities” and this paper will base its study on this. “Langdon Winner is a political theorist who focuses on social and political issues that surround modern technological change.” (Brief Biography). When undertaking a serious study of the topic, so many theories and assumptions also begin to emerge that are related to the topic. They include concepts like SCOT, Actor-Network Theory, determinism, closure, and other related f...
9 Pages (2250 words) Case Study

Economic Analysis of India

The country’s economy is fast growing with a stable political system that encourages foreign investment although with certain restrictions. The country generally has good energy, transport and communication systems which make the cost of doing business affordably.

The Republic of India found South of Asia is by far the world’s most populous democracy and ranks seventh largest in terms of geographical area (Brown, 1994). India is also the second most highly populated country in the world. The country has a rich culture with four major religions having originally emerged from it; Sikhism, Buddhism, Hinduism, and Jainism. The Indian Republic consists of seven union territories and 28 states and ranks twelfth la...
8 Pages (2000 words) Case Study

Immigration and Its Impact on the United Kingdom

For example, for farming communities, fertile and well-watered land has been a pull factor in migration. Business opportunities and political stability are also examples of pull factors.
Since the turn of the 20th century, Great Britain and Northern Ireland have experienced a great influx of foreigners migrating into the country due to pull or push factors. There have been different waves of migrations to the United Kingdom, which has had different impacts. Because of this, the United Kingdom has had to respond in several ways, which includes coming up with new acts on immigration, nationality, and providing asylum to refugees.1 However, the topic of migration to the United Kingdom has attracted different political views and...
23 Pages (5750 words) Assignment

Bernard Madoff : A Scapegoat of the Economic Crisis

Darwin was condemned and treated with contempt by the Church for proposing the theory of evolution that linked all living matter in the earth, including humans. In the case of Bertrand Russell, he was imprisoned as a conscientious objector, for expressing his opposition to British participation in the First World War. These are typical examples of people being wrongfully punished when they were guilty of no crime or fraud or misdoing. It would be highly improper to associate Bernard Madoff with the aforementioned luminaries, for he was truly guilty of carrying out the biggest financial fraud in modern history. At the same time, it would be simplistic to classify him as a victim of the contemporary judicial system. The truth, in fa...
6 Pages (1500 words) Assignment

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages (2250 words) Case Study

Economic Analysis on BMW Cars in the US Car Industry

Mini and the 1-series rapidly grew at a much higher rate through 2008. Since the early days of the new millennium, BMW has been one of the first automakers to utilize flexible factories in which more than one vehicle model could be produced at the same time. This enabled the company to meet shifts in market demand more effectively than BMW’s competitors could. BMW challenges to retain its market position in the international market for luxury cars. Many automakers, such as Hyundai with its Genesis sedan or Nissan's Infiniti brand are increasingly successful in realizing higher margins earned on luxury vehicles. BMW is rated behind luxury brands such as Lexus, Porsche, Mercedes, and Infiniti for these reasons

1. Th...
7 Pages (1750 words) Case Study

Globalization and World Economic Forum at Davos 2010

... economy and national culture (Mittelman, 2000). World Economic Forum and Davos 2010 The theme of this annual meeting is to improve the state of the world and rethink, redesign and rebuild. This annual meeting was to rethink the business models, financial innovation and risk management. This rethinking is sought to trigger redesign attempts at the institutions at the national and international levels. The aim of redesign is to close the gaps in governance, prevent systemic failures and restore growth. This effort requires common vision, collaborative innovation and public-private partnership to succeed in the long term. The prerequisite would be to rebuild trust. The meeting focused on the following six areas of enquiry: 1. strengthening...
7 Pages (1750 words) Coursework

The Trends in the Steel Industry and How It May Impact Nucor Corporations Strategy

The whole organization at Nucor’s revolves around the laid principles and focus on reinforcing to the extent that the organization is known for its culture and quality. Simultaneous quality checks and adherence are also as important building a strong culture for the organizations.

Nucor Corporation has always tried to challenge itself for further progress and to keep abreast of the industry of steel business.

Let us look at the trends observed in the business of the steel industry. The trend in the steel industry is very dynamic and always impacted by internal and extraneous factors. For almost 50 years the United States of America reigned in the industry of steel production, almost half of the entire p...
8 Pages (2000 words) Case Study

Impact on Employment Lifecycle

Chapter 5: Conclusions: This chapter will detail the conclusions of the research and will also include the recommendations by the researcher. The limitations of this research will also be included and further research recommendations for the same will also be included.
Human resource managers have a major impact on organizations and they hold a very responsible position. The duties of the HR managers are to ensure that the organization employs the right set of employees and there is also a good mix of skills within the organization. It is also to ensure that all the activities and processes relating to the employees are handled and completed in sync with the culture, values, and mission of the company.
The main reason to...
8 Pages (2000 words) Assignment

The 1846 Invasion into Mexico by the U. S.: The Political and Economic Forces that Brought about the Invasion

Some of the territories led to a war with Mexico from which the United States emerged victorious, expanding its territories and decisively establishing its dominance in North America.

President Andrew Jackson led an example of an administration that set the stage for the way in which James Polk would lead. In 1817, as a still yet military leader, Jackson led the United States into the first of three conflicts with the Seminole Indians from which the acquisition of Florida from Spain would be negotiated and finalized. The situation with Spain was tenuous and should have been dealt with in a diplomatic and cautious manner, but in 1817 President Monroe wrote a letter to General Jackson stating that “Great interests...
8 Pages (2000 words) Article

Macro and Micro Economic Environment of Australia

...Research Proposal “How macro and micro economic environment of Australia impact the strategic marketing decisions of an organization” Table of Contents Introduction 2 Purpose and Aims 2 Literature Review 3 Research Design 4 Thesis Structure 6 Expected Outcomes 7 Conclusion 8 References 9 Introduction At the present global environment, successes and failures in business are actually the results of right or wrong decisions that are made by the management of the organizations. Decisions regarding strategic marketing are something that provides the competitive edge to a firm. However, such decisions are greatly influenced by several factors that are present in the outside and inside environment of the company. Based on the nature...
7 Pages (1750 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Impact of Innovation on Economic Perfomance on Micro and Macro Level for FREE!

Contact Us