I have a query about presentation in the class about Ufone. Ufone had such a great opportunity in the industry to expand in the form of readily available PTCL. I just want to know that what is the reason that inspite of such a large infrastructure what is the reason that Ufone is not largest cellular network? Rest of the companies like Warid and Telenor came up later but took away the market from Ufone. WHY, what is the reason?

In the book built to last, there is comparison between two types of companies, there are visionary companies and on the other hand there are comparison companies. Comparison companies are not dog companies rather they are good but not to that extent where visionary companies are. The good point is, comparison between the companies is not like that one company is more than just "successful" and on the other hand comparison company is completely a "looser". Book mentioned this thing as the comparison between the companies is like gold medalist with silver OR in some cases with bronze. So, the comparison is very logical and very helpful, not just comparing those things were comparison is not even possible or fair.

How to source ideas!!!

This post is related to what we have discussed about generating ideas. It is about going to extreme and having bold ideas.
Strategy stripping is one of the tools for sourcing ideas. With this strategy, the focus is on the essentials of the business, the things you are already good at, and you take them to their absurd extreme.

This strategy will include
• Strip to the core
• Go way overboard
• Scale back a little
In the first one, you begin by listing all the elements of your current corporate mission and strategy. Then each manager has to take turns making each element more concrete and striking from the list one strategy element that the company could survive without. When the list has gotten painfully short, then you have reached the core of your strategy. You have now taken off (stripped down) nonessential aspects of your business. E.g., for a retailer the core might be “distinct personal service for high-end consumers”. It must not be something as vague as “excellence”.

In the second one, you generate alternatives for radicalizing the company. For each core element, ask yourself, “This strategy is all well and good, but what it mean to take it too far? How could this strategy get us into trouble? This is focused creativity that should yield radical, even absurd ideas.

Finally, you must scale these ideas back a little bit. First, look at what you came up with and see which ones spark interest and then seek some outside feedback from experts or from the market itself. Some ideas may be extreme but uninteresting. Then make a modified version that is toned down just enough that you might possibly pull it off. At the end of this step, you should have several bold ideas to consider for pushing your current strategy to its extremes.

The built to last is an exceptional book on business strategy. It narrates the stories of successful firms with refernce to their key strategies. The book starts with the concept of building a company rather than building a product because the writer believes that only a great company can produce a great product.Just apply this idea to the democracy in our country. To simplify the things, just assume that the democracy is the product of the system.Liberalization, fairness,rule of law,guarantee of fundamental rights and justice are the prerequisites for implementing democracy. Until and unless , we do not build a fool proof system by socio-economic and institutional reforms ,the democracy in our country will not flourish.It will not gain good reputation in international scenario and will remain vulnerable to military coups.

The example that was described by Sir mannan in class relates to another company as well that is haleeb Foods. They decided to go for the juices and sent their products to the market but they did not recieve the appreciation as much as they exxpected and now you see haleeb juices no where.

Managers who make the strategies to run the business in an efficient manner. They are suppose to take the business decisions for instance whether they should carry on their past strategies (in case if they are satisfied with the performance of business) or they should quickly move towards something new, for a totally new strategy (in case if results are hurting their expectations) or they should keep balance and for future there should be a blend of strategies some part taken from past and add some new flavor in it (in case they are partially satisfied with their performance).These are some basic possible ways to figure out what to do. But personally, what I have examined from real life examples, most of the managers always avoid to fall their business in any of these three categories. For instance, they always prefer to “innovate….innovate….innovate…” when they feel that their business is not doing well. They just want to ignore or protect the present strategies by launching some innovations but they forget to figure out why that innovation is required, why there is need to put some more sugar in a cup of tea when there is no need. So, can we have a cup of tea with four tea spoons of sugar, while we are addicted to take just half tea spoon? What would happen, you can just imagine.
Express your opinion.

The term core competency was first coined by Prahalad and Hamel. According to him core competencies are the basis of competitive advantage and allow the firm to introduce an array of new products and services. Core competencies lead to the development of core products. Core products are not directly sold to end users; rather, they are used to build a larger number of end-user products. For example, motors are a core product that can be used in wide array of end products like fan, coolers etc. There are three tests useful for identifying a core competence. A core competence should:
1. Provide access to a wide variety of markets
2. Contribute significantly to the end-product benefits
3. Be difficult for competitors to imitate.
For further details read http://www.quickmba.com/strategy/core-competencies/

“Built to Last” gives a very interesting distinction between successful and visionary companies. According to the book, successful companies are driven by short term profit. They focus a lot on the innovation and new product development but they lack a vision that validates the existence of the companies. Visionary companies thrive on their vision for decades and because of this vision they are strongly woven in the social fiber of the society. They have become a part of the life of people. For Example Disney is jelled with the entertainment, Ford Model T and Mustang comes straight in mind with automobiles, Tide detergents and American Express cards are integral part of a common United States citizen. These visionary companies has surprisingly overcome set back in the history for example Disney serious crisis in 1980’s, Boeing laid off 60,000 employees in 1970’s and Ford suffered heavy losses around $3.3 billion but they came out because they were all visionary companies. I was just thinking that how many visionary companies are there in Pakistan? Unfortunately I found no one. Tapal, Qershi and Dalda may be but I cannot found the vision that leads these visionary companies. I hope someone can come up with a more convincing choice.

Nuro sweet is a great example of how Coke built a new supplier (HSC) to get the most favorable rates. Correct me if I am wrong this whole game of changing the players has some relevance with a simple concept of economics “don’t put all your eggs in one bucket”. If you have only one supplier you will be worse off cause he will have immense bargaining power and will be in a position to charge you at whatever rate he likes. For instance Packages was dependent on Century paper a single supplier for high quality paper. In that case he has a sort of monopoly and if you can create a new supplier or integrate backward do it to break the monopoly. Same is done by Packages it has integrated backward it makes high quality paper at its Kasur Plant.

There is a discussion on the relevance of the book to different environment. In my views, Competing on the Edge introduce a broad view points and some traps, in which companies may fall. Although I strongly agree that book is build on Volatile market dynamics like computer industry where change is rapid and mostly unexpected but some generic implications have some wider scope. So it might provide useful tools to analyze your company and it may provide a very solid base for initiating change in your company. In our case Packages has fallen into bureaucratic tarp and it is obsessed with rigid structures. This limits Packages ability to change and respond to market changes. No doubt it is the market leader with no direct competitors but let’s assume that a new competitor, with huge investment, may enter the Packaging Industry. At that time, it will be difficult for the company like Packages, to respond instantaneously. I think we can benefits from key lessons of the book rather than following it religiously.

"The hidden threat to human health through the consumption of carbonated drinks will not remain hidden now"
i was reading a report on the effects of carbonated drinks.i was shocked to found hazardous effects of these drinks.this research work is done by GIK students.i will just summarize the main effects of these drinks.

• High phosphate content of such drinks and virtually no calcium leads to higher concentration of phosphate ion in the blood causing calcium to be pulled out of the bones increasing the risks of osteoporosis, multiple bone fractures and damaged arteries.
• Presence of sodium benzoate results in allergic reactions including eczema, asthma and persistent rashes
• The artificial sweetener, Aspartame used in soft drinks is 200 times sweeter than table sugar, and that’s incredible!
• One drink increases the chance of getting obese about 1.6 times
• Its acidity and radical mineral imbalance promotes the production of stones in kidneys
• Is a major cause of metabolic syndrome including obesity, high blood pressures, high cholesterol and insulin resistance
• High amount of caffeine causes severe addiction,restlessness,tension,gastrointestinal disturbance,excessive urination,excitability,and increased heartbeat.
• tooth decay,heart burn,damaging of brain cells,liver cirrohsis,dehydration,and cell disability are its life threatening side effects!

well these were some of the side effects for drinking carbonated drinks.i am amzaed that what will happen to the carbonated drinks company like Pepsi and Coke,if people get to know the harmfull effects of these carbonated drinks.

my question for you all is what will happen to these big giants (Pepsi and Coke),if people get familiar with the hazardous effects of these drinks????

What can you do for us that someone else can't?

I know many of you will find this question pretty easy to answer but I'm confuse
I mean evryone can Talk about his/her record of getting things done,specifics from resume or list of career accomplishments, skills and interests,also I guess every sensible candidate do mention his/her ability to set priorities, sense of identifying problems and critical approach in solving them but what would be a *CP/unique answer to this question that can impress people and help them differentiating one as highly suitable and competent resoursce for the firm as compared to other candidates?

I hope you guys are genius and come up with some great anwers to this question.

We are having strategy—a core topic in our course. This analysis will help us to get more insight of strategy.

SMALL THINK --------------- BIG THINK
Inertia and resistance -------Creativity and change
Narrow-mindedness ---------Visionary leadership
Risk aversion -----------------Bold ideas and actions
Short-term focus ------------Lasting impact

Small think is what managers get paid to do. Managers are rarely blamed for doing again and again what they have already done in the past.e.g, if a company makes a new move, the leader’s first choice is always the most certified, market tested direction that dozens of other companies have no doubt already taken. This is the reason these companies failed to make their distinctive position. This is very obvious because if customers are getting the same thing already then why they will attract towards you?
On the other side, Big Think strategy faces challenges creatively, reasoning about them from new angles and generating innovative ideas. Big Think does not just occur in the head. It involves action: managing people and teams, and driving organizational change. It is not simply creating something new; it is behaving differently.

First assumption on which “Competing on the edge” rests is that, The marketplace is in constant flux.
Can some one please tell me about second assumption, especially about complex adaptive systems?
Please keep it simple and crisp.

Competing On Edge describes various traps in different scenarios and guide us how to avoid these traps but what do u think that these concepts exist in Pakistan? I mean our problems are different from the rest of the world. Can we apply these concepts in true spirit in our country. for example our companies now a days majorly facing load shedding, instability, political issues etc kind of problems so how we can apply these concepts in Pakistan?

T20 Cricket is the best example where Competing on the Edge rightly fits.The game is changing at every over.The batsmen always improvise to hit boundries ,the bowlers always change the variation in their line and length to bowl out the batsman.There is always excellent colloboration,team work and hundred percent effort is required to win the match.The captain has to make instant decisions and adapt according to the changing situation of the game.In short all the key features of Competing on the Edge strategy (Improvisation, Collaboration and Coadaptation)are exactly used in T20 cricket.

As far as chapter 1 and 2 are concerned, i learnt that it is not important for a company to have a core instead it is better to have the ability to compete on the edge. This raised a question that, should a company put its efforts on building up the core competence or on using those efforts on competing on the edge? Plz give comments...

I have found this blog very helpful and many Professional people use to blog here about Business strategy & Design Thinking


http://bx.businessweek.com/business-strategy/blogs/

If we give a glance at our 360 angle degree, we will come to realize that how much we are involved in paper work. Right from the Kindergarten to this very level, we are using paper products in form of books, notebooks, writing pads and diaries. This is a very huge industry which has not been focused as number of students are quite high in number.
Manufacturing of notebooks is done at a very low scale and very few players are in this industry, hence, there is a lot of room in the industry.

Moon Paper Products (owned by me) is a manufacturing company which converts raw paper into finished products like

Notebooks (Pin, stitched, Gum-bind & Spiral)
Diaries
Registers (All Types: Hard binding, stitch binding & Gum-Binding)
Journals
Sketch Books
Writing Pad
Drawing Book
File Cover
Memo Pads

As this industry has not been focused much, i would recommend you people that you must think over it and if you want to start your own business, invest in this industry.

An effective Strategy and the techniques told by Sir Mannan can really prove helpful regarding a new entrant into the paper industry.

Many organizations have accepted the fact that they must either change or die. Many companies intend to change by installing new technology, downsizing, restructuring or they may try to change the corporate culture. Though many companies have accepted the fact of Change but the problem is, it’s really difficult for the companies to manage change. They just don’t know from where to begin, how to continue. More specifically they lose there focus. So in order to be successful, managers need to crack the code of change.
There are two theories which describe the phenomena of change. Theory E and Theory O. According to theory E share holder value is the legitimate measure of corporate success. In this theory change involves heavy use of economic incentives, drastic layoffs, downsizing and restructuring while theory O is a soft approach to change. In this theory the goal is to develop corporate culture and human capability through individual and organizational learning-the process of changing, obtaining feedback, reflecting and making further changes.Companies can use Theory E, Theory O or a mixture of both of them to be successful

Suppose Nirala wants to enter fast food Industry in Pakistan. What will it be looking at:
Population 6.8Million in Lahore
Average life of a person 65 years
People above 45 years_________30%= 2.04 Million (almost 80% don’t eat Fast food)
People above 45 years who eat fast food______________2.04M*20%=0.408 Million
Those who are above 45 but don’t eat fast food= 5.1Million-1.02 Million=1.632 Million
Total market = 6.8Million-1.632 Million= 5.168 Million
Who are the Major Players?
Multinational
McDonald______________10%
Pizza Hut_______________10%
KFC __________________ 6%
Hardee’s________________2%
National (Sophisticated)
AFC etc ……………………..10%
National(little or no sophistication)
Lasania, Street vendors, Cook n Bull, De-Chix etc 40%
Life cycle:
Mature

Posters five forces:
1)Bargaining power of supplier:
Raw material can be made available from any where at cheaper rates.
2)Threat of new entry:
As there is low fixed cost,so there will definitely a threat to entry.
3)Substitutes:
The Backer products are one of its substitutes.
4)Rivalry among the existing firms:
There is a great rivalry among existing firms for market share.
5)Bargaining power of buyer
There are others providing the same thing having the same core benefit.

Since I did it alone, I think there is a room for more value addition. Further I did it this way may be you have a better way of doing the structural analysis.

“As a market, Women represent a bigger opportunity than China and India combined. So why companies are doing such a poor job serving them?”
Source:http://news.curves.com/images/20003/HBR%20The%20Female%20Economy.pdf
The exact words copied from HBR are depicting a very grim reality. According to this article growth forecast for female economy will be 18$ trillions in 2014. China and India GDP growth will 6.6$ trillions and 1.8$ trillions in 2014 respectively. Female market may be a blue ocean (as you may call it) or a great growth opportunity for the companies. But the companies are not doing well worldwide to cash this segment rather most of them have limit themselves in their narrow minded view heavily occupied with male dominated mindset. This is global ignorance and it could also hold true in Pakistan. Women are becoming independent and entering the job market. Companies have to work beyond just “thinking Pink endorsements”. In my view, this all narrows down to the strategy and strategic planning, companies have to incorporate this phenomenon in their strategy in order to focus on this unexplored market segment with a lot of potential. Although there are numerous products catering women requirements but they treat women as very delicate and fragile objects. This unfortunately doesn’t conform to the mindset of the women in the female economy.

I still have doubts whether this strategy will work for smaller companies. The examples given were for individuals whose resource being used was time. A company will have a completely different scenario. For one they have limited resources, second they have stakeholders to think of who would be after them if they fail and third, a trail and error strategy might just land them on the wrong side of investors if they fail a bit too often. So why would any company that is not too big want to use this strategy which claims itself that it will be inefficient!!!

1. SWISS INTERNATIONAL AIRLINES:
Sales Agent Service Center

2. SWISS INTERNATIONAL BANK:
Market Research Analyst

3. SYGENTA:
Assistant Key Accounts Manager

4. TAG HEUR:
Assistant Marketing Service Client

5. SWISSCOM:
Client Service Officer

When pricing your product or service, you should put some thought into the strategy you utilize. Are you going to undercut your competitors? Would you rather target the upper level? Maybe you just want to price with the market. It really depends on what you are offering, but here are some different strategies

Penetration Pricing

This is when you want to quickly get some grip in your market by offering a lower (and sometime insanely lower) prie. Benefits would obviously be the quick market penetration.

Skimming Strategy

This is somewhat opposite of penetration pricing. Do you have a relatively new technology that nobody else is offering? Why not “skim” off the customers who are willing to pay more in the beginning.

Follow The Leader

Sometimes it makes since to just follow the crowd and price your product competitively. Obvious products here would include commodities.

Variable Pricing

Do you sell cars or real estate? Do you own an eBay business? If so, you are already using this strategy. Variable pricing involves negotiation and bargaining between your sales staff and the customer

Flexible Pricing

This works well for service based companies. Do you have government clientel? Then add a couple zeros to the price tag. Have a scaled down solution for commercial use? Drop the price and gaing some market traction.

Price Lining

If you’ve ever been to the Dollar General you are familiar with this strategy. All the products are offered at the same price. Obviously, this method is easy to manage, but you might get stuck due to its lack of flexibility. Times might get tough in times of inflation or an unstable market.

reference: http://www.startupstudents.com/a-pricing-strategy-for-everyone/

Hopefully this will help you grasp the basic ideas and maybe even assist you in finding the right strategy for your business.

My opinion: I think Penetration strategy is more risky, because we don’t want to undercut ourselves out of business. Skimming strategy is good to do for new technology product but once demand from the early adopter’s falls, we left with no option then lowering our prices. Variable Pricing is good for products having only one time fix cost and having minimum variable costs for example telecom sector such as zong, telenor etc.

Nine Factors to Consider When Determining Your Price

1. Your Costs
If your rate doesn’t include enough just to break-even, you’re heading for trouble. The best thing to do is sum up all your costs and divide by the number of hours you think you can bill a year. Whatever you do, DON’T think you can bill every hour. You must account for sick days, holidays, hours working on the business, hours with no work and so on.

Also make sure you factor in all the hidden costs of your business like insurance, invoices that never get paid for one reason or another, and everyone’s favourite – taxes.

2. Your Profit
Somewhat related to your costs, you should always consider how much money you are trying to make above breaking even. This is business after all.

3. Market Demand
If what you do is in high demand, then you should be aiming to make your services more expensive. Conversely if there’s hardly any work around, you’ll need to cheapen up if you hope to compete.

Signs that demand is high include too much work coming in, other freelancers being overloaded and people telling you they’ve been struggling to find someone to do the job. Signs that demand is low include finding yourself competing to win jobs, a shortage of work and fellow freelancers reentering the workforce.

4. Industry Standards
It’s hard to know what others are charging, but try asking around. Find out what larger businesses charge as well as other freelancers. The more you know about what others are charging and what services they provide for the money, the better you’ll know how you fit in to the market.

5. Skill level
Not every freelancer delivers the same goods and one would expect to pay accordingly. When I was a freelancing newbie I charged a rate of $25 an hour for my design, when I stopped freelancing recently my rate was $125 an hour. Same person, but at different times I had a different skill level and hence was producing a different result. Whatever your rate, expect it to be commensurate with your skill.

6. Experience
Although often bundled with skill, experience is a different factor altogether. You may have two very talented photographers, but one with more experience might have better client skills, be able to foresee problems (and thus save the client time and money), intuitively know what’s going to work for a certain audience and so on. Experience should affect how much you charge.

7. Your Business Strategy
Your strategy or your angle will make a huge difference to how you price yourself. Think about the difference between Revlon and Chanel, the two could make the same perfume but you would never expect to pay the same for both. Figure out how you are pitching yourself and use that to help determine if you are cheap’n'cheerful, high end or somewhere in between.

8. Your Service
What you provide for your clients will also make a big difference to your price tag. For example you might be a freelancer, who will do whatever it takes to get a job just right, or perhaps you are on call 24-7, or perhaps you provide the minimum amount of communication to cut costs. Whatever the case, adjusting your pricing to the type and level of service you provide is a must.

9. Who is Your Client
Your price will often vary for different clients. This happens for a few reasons. Some clients require more effort, some are riskier, some are repeat clients, some have jobs you are dying to do, some you wouldn’t want to go near with a stick. You should vary your price to account for these sorts of factors.

Reference: http://freelanceswitch.com/money/nine-factors-to-consider-when-determining-your-price/

My opinion: factors which can be considered for setting price for a product may be broadly categories into two main factors:

Internal Factors - When setting price, we must take into consideration several factors which are mostly controllable by the company. For instance, product pricing may depend heavily on how much can be produced within a certain period of time. Increasing productivity can reduce the cost of producing each product and thus allow us to potentially lower the product’s price

External Factors - There are a number of influencing factors which are not controlled by the company but will impact pricing decisions. Understanding these factors requires, conduct research to monitor what is happening in each market the company serves since the effect of these factors can vary by market.

What Are SMEs

As defined by State Bank of Pakistan - SME (Small and Medium Enterprise) means an entity, ideally not a public limited company, which does not employee more than 250 persons (if it is manufacturing concern) and 50 persons (if it is trading / service concern) and also fulfills the following criteria of either ‘a’ and ‘c’ or ‘b’ and ‘c’ as relevant:
(a) A trading / service concern with total assets at cost excluding land and buildings up to Rs 50 million.
(b) A manufacturing concern with total assets at cost excluding land and building up to Rs 100 million.
(c) Any concern (trading, service or manufacturing) with net sales not exceeding Rs 300 million as per latest financial statements.

Significance of SMEs

SMEs are considered the engine of economic growth in both developed and developing countries, as they:
Provide low cost employment since the unit cost of persons employed is lower for SMEs than for large-size units.

· Assist in regional and local development since SMEs accelerate rural industrialization by linking it with the more organized urban sector.

· Help achieve fair and equitable distribution of wealth by regional dispersion of economic activities.

· Contribute significantly to export revenues because of the low-cost labour intensive nature of its products.

· Have a positive effect on the trade balance since SMEs generally use indigenous raw materials.

· Assist in fostering a self-help and entrepreneurial culture by bringing together skills and capital through various lending and skill enhancement schemes.

· Impart the resilience to withstand economic upheavals and maintain a reasonable growth rate since being indigenous is the key to sustainability and self-sufficiency.

· Problems Faced by Pakistan’s SME Sector?

· Pakistan’s economy has amazing potential for development but sadly, we haven't been able to derive optimal benefits despite a series of efforts launched by various policy makers at different times. The impetus of all these endeavors was on the large scale industries and manufacturing concerns. High rate of failures, owing to economic slumps, institutional malpractices, political motives and damaging activities of labour unions in that sector, left the formal lending institutions with huge infected portfolios, in addition to adverse effects on the entire economy e.g. insufficient and low quality production to meet the demands of local and international markets, deficit in balance of payments and ever rising unemployment, etc.

· Pakistan’s SMEs are still unable to achieve their maximum potential and are in dire need of ‘hand-holding' and business support services.

· SME Financing and Hand-Holding

· Research reveals that despite the lack of collateral, SMEs are a better credit risk, as the default rate of this sector is much below that of large enterprises (LEs). Throughout the world, SMEs have provided tremendous opportunities to financial institutions to design various tools for the sector's development (e.g. Program Lending Schemes, Credit Scoring, Venture Capital Financing, etc.). Then there are clusters, technology parks and industrial estates, all being fuelled by the dynamism and vibrancy of small and medium enterprises. Banking institutions, running on Islamic principles, are also experimenting with interest free financial instruments (e.g. Mudarabah, Murabaha, Ijarah etc.) for this sector.

Hey people these are the companies for which business development office wanted us to submit the cover letter for the mock interview.

• Territory Sales Manager

Responsibilities:

Strategic and Operational sales management of a sales territory

Sales target achievement

Optimum stock level and timely order generation

• AkzoNobel

Responsibilities:

1. Managing supply chain activities including: Material Planing, Sourcing, Inventory.
2. Management and Logistics Services

• GTZ

Responsibilities:

1. Planning, monitor and coordinate projects
2. Schedule meetings and presentations

• Warid

Responsibilities:

Process daily sales at the assigned customer counter

Prepare daily inventory reports

Prepare daily sales Report

Coordinate Activities with the sales executive

WIN-LOSE STRATEGY:

According to this strategy, others will loose in order for you to win. This is what almost all companies are doing. Let’s just put it in the example of Packages. What packages can do is that it can sell its packing material on for example 10% discount on an order of 100,000 units. In this way its sales will definitely increase and competitor like Pak paper will suffer. This is how Packages can win and its competitor loses.

WIN-WIN STRATEGY:

Correct me if I am wrong, the way to win is to let the competitors do well. Almost no one believes in this strategy, but it can be a great success. Let’s apply this strategy to Packages. Packages is a market leader having almost 40% of market share. Despite of having a great capacity to produce and three shifts of production per day, it can not accommodate all orders of its customers. What it can do can do is ask its customers that if they allow Packages to get the order prepared from any other producer of the same quality. If agreed get it prepared by competitors and charge 2% on each order. This will definitely be a win-win strategy and the competitors will surely not retaliate because both will win.

Guys here are a few Job Openings - found them in the news paper :-) Do apply

what do you think in which category the culture of our business game class falls?
1) too little structured, chaos trap?
2) is it too much structure, bureaucratic trap?
3) in between navigating the edge of chaos?

Note:
comment cosidering the class participation culuture we have in our class. rules we have in our class, like raising hands before getting a approval for CP. The overall exciting feel of enormous amount of communications in the class? do you think it really add values or is it something as mentioned in the book chaotic communication in case of royal?
After done with the reading, we will be able to comment on it. So looking forward for your valuable comments regarding our class culture.

The World Economic Pyramid