Reference no: EM131960156

Informal economies are all over the world, and especially true in the big metropolis. If you are in business (assuming lawful) seeking or sharing opportunities within the sector, where the sales counter is a canvas or a blanket on the sidewalk, it is truly a challenge to predict trends. However manufacturing of imitated items are thriving. So let's explore some of the sources of information generally available, census for example.

Public and private organizations rely on census data here in the US and abroad to identify needs, tends, and obviously demographic segmentation to serve the public, customers, market share population, etc. This may lead to intrinsic organizational structural makeup as well as functional settings to operate within these demographics. The strategic impact of the census data could be significant. How accurate is that information? How is it obtained, compiled and process? Who's in charge of the process? How do you strategically position your organization in case the data is not a well-developed, creating uncertainty and a higher error than anticipated?