Showing posts with the label information transference

How Does Information Networking Create an Export Region?

Export driven economies fuel themselves through an octane boost of information. Information makes their way into opportunity finding, employment, and development. With the right methods of information transference regions can further develop their export driving economies by understanding how innovation fulfills demand-side and supply-side economics. Paul McPhee (2012) explores innovation strategy information spillover contributions as an important catalyst in simulating exports and employment.  Local development exists within a national context. Local stakeholders and business members work together to create development. Local networks and supply chains also rely on greater information links in national networks to be successful (Bathelt, 2005).   In other words, there exists the tighter information transference within local networks and wider networks within the nation. Even though the author doesn’t state this it can also include information and resource vines throughout th

Social Networks Percolate Products and Opinions

Word of mouth fosters social learning about issues, products, and opportunities.   Friends that act and think alike often create clusters and these clusters can influence the purchasing choices as well as the decisions members make. Economists often have difficulty formulating how social networks formulate and influence people’s impressions of products and services. Research by Arthur Campbell (2013) sheds light on how word of mouth in social networks influences perception of value.  When individuals are interested in a concept or product they are naturally more willing to engage in word of mouth. Generally, as a product’s price is lower it raises the interest level and the potential discussion of the product leading to more word of mouth activity. It is this interaction that brings to the forefront ideas, concepts, and discussions on products that are settled within a group.  One of the difficult aspects of understanding social networks and diffusion is the complexity of