Creative destruction
Describe meaning of the term “creative destruction”? How does the emergence of MP3 (iPod) technology relate to this idea?
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Creative destruction refers to the procedure by which the creation of new products and production techniques destroys the market positions of firms committed to generating only existing products or by using outdated methods. The capability to download and store a great number of songs, and the superior quality of MP3 is causing a decline in the CD industry, just as CDs once replaced cassette tapes, which had beforehand replaced phonographs (records).
Agency: It is a legal or official reference to a government association at any level in the state organizational hierarchy. Or Government organizations belong to the highest sta
Allocation: The distribution of funds or costs from one account or misuse to one or more accounts or appropriations (example, the allocation of employee compensation funding from the statewide 9800 Budget Act items to the departmental Budget Act items
Assembly: The California's lower house of Legislature included of 80 members. As an outcome of Proposition 140 (that is, passed in 1990) and Proposition 28 (that is, passed in 2012), members elected in or after 2012 might serve 12-years in the Legisla
Expenditure: The expenditures reported on a department’s annual financial reports and “past year” budget documents comprises of amounts paid and accruals (comprising encumbrances and payables) for obligations made for the fiscal year
Trade credit is free credit. Do you agree or conflicting with this statement? Clarify. Trade credit is not free. It contains a cost. Who bears that cost based on the terms of the transaction among the grantor and the recipient of the trade c
Security in banking operations is a major problem in financial institutions all over the world today. The compromise of banking information and data more often than not leads to fraud. Fraud has become quite a challenge for many banks as any slight br
Character of Expenditure: A classification recognizing the major purpose of expenditure, like State Operations, Local Assistance, Capital Outlay, or Unclassified.
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Summary Schedules: Different schedules in the Governor’s Budget Summary that summarize state revenues, expenditures and other fiscal and personnel data for the past, present, and budget years.
Special Items of Expense: It is an expenditure category which covers nonrecurring big expenditures or special aim expenditures which usually need a separate appropriation (or else need separation for clarity).
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