The object of studying industrial economics is the dynamic functioning of the industry under the influence of its competitive environment and the strategic behavior of the companies that make it up. In other words, industrial economics studies the structure of enterprises and markets, as well as the relationship between them. The industry represents all bidders in the market of a given product or service, between whom competitive relations have been established. "In a complex international economic environment characterized by uncertainty and risks, strategic reflection is global: the field of action is global, and the choice of means of action is carried out in an increasingly broad form, which includes steps taken by companies of different cultures. Mutations in the environment require delays in rapid response.
The methodological duality of the industrial economy consists of:
Considering the outstanding facts.
He begins with observations of reality, he looks for the use of simple and few valid laws that can be generalized (inductive and passive method).
A theoretical approach to facts.
It begins with generally accepted hypotheses, establishes speculative reasoning that can stimulate the study of the functioning of this reality (the essentialist and normative method).
Industrial economics develops a realistic and detailed approach to the functioning of companies and markets, thereby complementing microeconomic theory. The industrial economy complements the model of perfect competition by introducing the disadvantages of the real world: limited information, transaction costs, costs of price assistance, government intervention, barriers to entry of new companies into the market.
Industrial economics uses analytical tools belonging to the exact sciences. On the one hand, the industrial economy is a scheme for describing and explaining the behavior of companies, and on the other hand, a tool for forecasting and actions that will serve various subjects of economic life:
a company to know the limited structure and its market share in which economic calculations are made and strategic decisions are made;
public authorities to assess the contribution of this industry to achieving macroeconomic equilibrium;
banks and shareholders to get an idea of the profitability and
solvency of companies from different fields of activity;
suppliers of goods and services to assess the balance of power compared to
their customers, as well as the growth potential of their outlets;
trade unions to assess the effectiveness of their industry, its ability to withstand foreign competition;
trade unions of workers to assess the creation and distribution of income from industrial activities.
The industrial economy is considered from the point of view of company strategies. The concepts and tools of industrial economics analysis can better serve to understand and define the strategies of companies. Thus, the industrial economy is used as a guide for managers in determining the goals and objectives of companies and, thus, the company's position in the market. As a result, we can say that the industrial economy is both a behavior coach and a fashion designer. We can talk, quoting P. Drucker, about the professionalization of management at the market level, and not only at the enterprise level. Хотите получить фриспины без депозита в казино, но не знаете с чего начать? Переходите на сайт и изучите подробные обзоры всех бездепозитных бонусов, которые доступны в популярных онлайн казино. Только актуальная информация и проверенные бонус коды для новых игроков.
