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Entrepreneur Strategy Successful Factors

Entrepreneur Strategy Successful Factors

          
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About the Book

In fact, the standard economic theory also assumes that people carry out a full rational analysis of all consumers' available options. This is not what we do; we often just copy the actions of other people. For example, it would require too much effort to look up all the rules when driving in a new country, to find out all the fines/punishments for failing to meet the rules, to work out the probability of being caught and the possible costs, before deciding how to drive there. Instead we just copy other people, and perhaps adjust our behaviour according to the feedback we receive. However, some psychologists indicate to see people how to behave, in especial in crises situations and when others are experts. These psychologists have identified that we are open to influence from people in authority or people we like. When we are influenced by authority, an expert, someone with legitimate power to direct our actions, someone who can either reward or punish us. The effects are less likely to be lasting than we are influenced by someone we like. However, some people's psychological behaviour is similar to economic behaviour to judge to make any decision. For example, why do you wear a seatbelt in your car? Most of us wear seatbelts as it has became normal behaviour, everyone does it. We neither evaluate the likelihood of having an accident, nor the chance of getting caught without our seatbelt on and incurring a fine. The enforcement of seatbelt wearing is now hardly necessary, as it has become a social norm. What does this mean for policy makers? Policy makers focusing only on economic analysis may often devise a system that has an immediate effect. In psychologists view this issue point, knowing that there is a fine for speeding and a high likelihood of getting caught, the driver will probably drive more slowly, but who will drive just as fast one who realize the chance of being caught is low. However, of policy makers can change the social norm, perhaps in this case by encouraging us to frown on others who drive dangerously fast with campaigns against dangerous driving, then less enforcement will be needed after the change. In other words policy makers might want to take preferences as fixed in the short term, but they should consider shifting preferences in the medium term. An example where policy appears to have successfully changes people's preferences in the US and Singapore and Hong Kong is banning smoking in public places. This change appears to reduce the social proof of the amount people smoke in private places and public places both also. It seems that government policies can influence the decreasing numbers of consumers require to buy cigarette to smoke habitually, due to fine and punishment is regulated to be ban effectively. Such daily routines quickly became habits. Even when we consciously think about what we do, it can be difficult to change our behaviour. Perhaps I think it is a good idea for people to use public transport, but I do not know where the bus stop is or when the bus runs. I think to use private car to drive to work place is more preference choice. The reward feeling, my journey by car was easy and free to reinforce my old bad habit. Psychologists theories on changing habits generally involve raising it to a conscious level where we can consider the merits of alternative behaviour. This is followed by adopting the new behaviour, which, with time, becomes frozen as a new habit. Thus, I think that we need have regulation to control my behaviour, then we can change my behaviour to be new habit from old habit of behaviour easily.


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Product Details
  • ISBN-13: 9781691581818
  • Publisher: Independently Published
  • Publisher Imprint: Independently Published
  • Height: 254 mm
  • No of Pages: 776
  • Spine Width: 51 mm
  • Width: 203 mm
  • ISBN-10: 169158181X
  • Publisher Date: 07 Sep 2019
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 2097 gr


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