Successful Develoment and Innovation Essay Example | Topics and Well Written Essays - 1750 words

Successful Develoment and Innovation - Essay Example The teams should learn how to learn to build up effective mechanisms of functioning together, and this should be provided by a whole community, rather than individuals. The processes that influence economies of various countries demand new strategies, for instance, cooperation, that should be correctly prepared and implemented by the leaders of organization. The last decade of the XXth century created a favourable background for housing business. With economical conditions that provided for stable progress in economy, and low mortgage rates, increasing demand for buying houses in this period created a favourable condition for housing business and mortgage companies. The other important issue was that the financing those who buy homes was changed by commercial banks and loans and savings from individual mortgaging to new level of mortgage originations that become usual at the market of housing business by the end of the XXth century. According to the data provided by the experts, "At year-end 1996, mortgage banking companies held a 56 percent market share of total industry originations, compared with only a 35 percent market share in 1990. And of the estimated $809 billion in total originations in 1996, $458 billion were secondary market transactions, compared with $276 billion of secondary market transactions in 1990." (Lereah, p. 3) The housing business and ... ngs in technological sphere and narrow margins are the key issues that characterized the atmosphere at the housing market at the end of 90s and determined further development in this industry. (Doggem) While speaking about the future of this industry the specialists usually express positive views on the situation. Current conditions and economical situation are likely to provide mortgage banking firms with efficient business and households with various mortgage alternatives. The experts now speak of housing industry as of a branch of industry that now has the most favourable conditions for successful development. However, various challenges are also to be taken into consideration, and now these obstacles are clear and evident. As the experts state, "as in most mature industries, the surviving companies will be the low-cost producers, and a heavy investment in technology may help companies accomplish this objective". (Doggem) Long-tern perspective of this industry is determined mainly by the following issues: economical decays and booms, that constitute circles in world economy demographic issues advance in technology changing background of the industry regulations that are provided by the government (Doggem) As the historical perspective demonstrates, the most important factor influencing housing industry was changeable nature of interest rates. This branch of industry experiences the same stages of development as other industries: ": downturn, trough, recovery, expansion, and peak". (Doggem) Accordingly, interest rates are also determined by the process and are influenced by the same circular way of development, and all this thus affects background of various branches of industry in general and housing industry in general. It is well-known that availability of