Healthcare is an industry where economic principles often clash with reality. While the ideal market relies on efficiency and balance — where supply and demand are in equilibrium — healthcare defies these norms. Market failures occur when resources are not allocated efficiently. Four primary sources of market failure in healthcare are market power, asymmetric information, […]
Graduating from college is a significant milestone, often filled with excitement, relief, and anticipation for the future. However, as the initial thrill fades, many new graduates find themselves facing the daunting task of transitioning from the familiar academic environment to the uncharted waters of the corporate world. This shift can be challenging, but with the […]
In the world of competitive strategy, companies are often laser-focused on their direct competitors. They track market share, pricing, and innovation trends, all in an effort to stay one step ahead. But while they’re busy battling familiar rivals, a hidden threat often goes unnoticed: substitutes. Substitutes rarely announce themselves with fanfare. They appear quietly, from […]