Thursday, April 3, 2008

The Principle Of Comparative Advantage

In economic theory there is the concept of specialization of production and international trade based on what is called comparative advantage. This theory suggests that you provide the most value when you specialize in areas where you are comparatively strong and outsource or delegate other tasks, as long as others can do them at least 70% as well as you can. Together the combined output will be greater than if you tried to do it all.

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About the Author

Urban Gavelin a native Swede with more than twenty five years of business experience. He has held positions as director of sales- marketing- and business development on Nordic, European and World Wide levels. Urban has lived and worked in Stockholm, London and New York, now works primarily with leadership development and sales training and is a credentialed coach. He has studied Executive Management at Lausanne Business School and Stockholm School of Economics.

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