Specialization

Specialization
In the economic sense, the social phenomenon of individual human beings or organizations each concentrating their productive efforts on a rather limited range of tasks.

Specialization
Definition: Capability of an individual's area of expertise.

Vertical Specialization
Business Dictionary:
Vertical Specialization
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Specialization Agreement. A restraint of trade arrangement among rival firms stipulating that each will sell only certain products, thereby assuring each participant a dominant market position for the specified products.

Specialization The division of productive activities among persons and regions so that no one individual or one area is totally self-sufficient. An individual may specialize, for example, in law or medicine.

specialization the situation in which a resource, such as labor, concentrates and develops efficiency at a particular task. (2)
specific tariff a tax on imports that is proportional to the number of units or items imported. (18) ...

SPECIALIZATION: The condition in which resources are primarily devoted to specific tasks. This is one of THE most important and most fundamental notions in the study of economics.

6 Marketing specializations
7 Buying behaviour
7.1 B2C buying behaviour
7.2 B2B buying behaviour ...

Examination Specialization &Technical Guidance Program- Audit Techniques Guides
For specific methods of developing the scope of your audit based on your taxpayers' industry ...

Patterns of Specialization
The reason for calling it the diversification cone, aside from its shape, is that only for factor endowments lying inside the cone -- between the rays kX and kY -- will a country produce both goods.

in economics, the specialization of the functions and roles involved in production. Division of labor is closely tied with the standardization of production, the introduction and perfection of machinery, and the development of large-scale industry.

They recognized that the result of increasing specialization of labour was to establish a state of things in which each individual produced little or nothing for the direct satisfaction of his own wants, ...

Modern economists accept Adam Smith's insight that free trade leads to international specialization of labor and, usually, to greater economic well-being for all nations. But some mercantilist policies continue to exist.

This is a situation that becomes increasingly baffling to advertisers as the specialization of publications and broadcast opportunities becomes even more diverse.

to the many-fielded principle of the financial market, the state must work out such a system of regulating investment activity, which guarantees 'peaceful' coexistence of various financial institutions notwithstanding their size and specialization.

The UK program lasts between five to eight years, and further specialization may result in yet a longer amount of time spent in school.

Specialization - The situation in which people produce a narrower range of goods and services than they consume.
Spend - Use earnings (income) to buy goods and services.

In fact, these laws have become so numerous and complex, that no business lawyer can learn them all, forcing increasing specialization among corporate attorneys.

He also holds a Certificate for Professional Specialization in Political Management from the Bulgarian School of Politics, jointly organized by the New Bulgarian University and the Council of Europe.

These conditions embed users in an environment characterized by choice under scarcity, specialization of skills and production, and gains from trade with other users.

Tax professionals can have a variety of different designations, each reflecting different areas of specialization. The most commonly known designations are certified public accountant (CPA), certified financial planner (CFP), and enrolled agent (EA).

The most fundamental thing that is responsible for the wonderful world of comfort and abundance that most of the population of the developed world lives in; is free trade and the associated specialization of labour and capital.

Theory suggesting that specialization by countries can increase worldwide production.
Comparative Credit Analysis
Comparing a firm to others that have a desired target debt rating in order to deduce an appropriate financial ratio target.

Niche Market
The area of a target market where a company or product is particularly strong. This specialization often results in super high quality by the specialist company and elimination of competition because of the uniqueness.

accounting clerk Entry-level job that can vary with the size of the company from specialization in one part of the system to a wide range of recordkeeping tasks.

Comparative advantage
Theory suggesting that specialization by countries can increase worldwide production.

Individual managers have various strategies for managing each portion, but students of history learned over 100 years ago in the Industrial Revolution that specialization was the key to unlocking productivity and performance.

Comparative Advantage - Refers to the relative advantage between trading parties. It explains why transactions occur even in the absence of absolute advantage. The basis for trade, specialization, and swap transactions.

Source: Mancusi, Maria Luisa. "Georgraphical concentration and the dynamics of countries' specialization in technologies" Economics of Innovation and New Technology 2003, vol 12:3, pp. 269-291.

Marxian economics argues that the specialization of the labor force, coupled with a growing population, pushes wages down, and that the value placed on goods and services does not accurately account for the true cost of labor.

The Corporaci¢n Andina de Foment¢, CAF (English: Andean Development Corporation) supports economic integration among members of the Andean Group by encouraging specialization, distribution of investments and by providing financial and technical help.

This can be done by correctly choosing the country's international specialization in accordance with its comparative advantages.

called risk managers, are responsible for facilitating the taking of applicable financial risks-market risks, credit risks and operational risks-by other departments within the firm. In larger organizations, there may be more specialization.

4The adoption of the second banking directive has vanished the principles that hitherto characterized the banking system: the principle of "time specialization of credit" based on which banks should manage the short-term credit (18 months), ...

Company-specific risk Related: Unsystematic risk Comparative advantage Theory suggesting that specialization by countries can increase worldwide production.

See also: Saving, Expense, Comparative advantage, Banks, Administration