...Continental AG - Making a tough call (A) Abstract The international management program IMP was found to challenge individuals, working in a community. These challenges, projects of importance which require high amount of attention were designed for participants as first business experience. This cross-national working together is guided by a mentor. The program is designed to take about seven months in addition to the regular work. This article deals with the key difficulties present in the International management program IMP 2000 project group consisting of three Continental AG workers, Meier, Winkel, and Caldwell. This case study consists of analyzing methods of the performance of the IMP team with management theories. Team leadership and development and how the theory of shared leadership explains the difficulties managed by the group. Tuckmans linear model, including the five stages of team development, forming, storming, norming, performing and adjourning will play an important role in explaining the teams failures in a more structuralized approach. Furthermore advisees addressed to Dammermann and the teams management group, attempting to settle the failure of the IMP project group. Focusing on improving communication, team building, and the utilization of a moving system to increase team and individual focus. An Unclear direction emphasizes how important a clear team direction is according to the team structure. How group performance and norms fit with those...
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...Good Year Tire and Rubber Company Case Analysis Background Goodyear Tire and Rubber Company is a profitable business which was founded in 1898. When 38 year old Frank Seiberling purchased the company he knew nothing on the longevity and success it would bring. Mr. Seiberling installed a down payment on the first Goodyear plant with a borrowed amount of $3500.During the late 1800s and early 1900s cotton and rubber were considered the lifeblood of the industry. At the time of Goodyear’s founding the existence of bicycles was fresh and business was booming at an increasing rate. With faith and the determination of 13 employees Goodyear’s initial production line consisted of bicycle and carriage tires, horseshoe pads and poker chips. With now a new need for bicycle tires being a demand for consumers Goodyear carved its mark in history as the world’s largest tire company in 1916. Strategic Issues and Problems In early 1992 Goodyear began to consider a previously declined proposal of Sears. This previously declined proposal now would benefit Goodyear because the company suffered a loss of $38 million. Good year’s market share and customer retention are both decreasing and this is becoming the overarching problem for the company. The factors to consider before making a decision on the sears proposal at hand are: 1. Goodyear brand tires reportedly declined in market share by 3.2% 2. About 2 million used or worn out Goodyear tires were being replaced at sear automotive...
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...T H E T R U ST P LAC E D I N O U R P RO D U CT S , P RO D U CT S W H I C H A R E B A S E D O N A S I M P L E P R I N C I P L E T H AT I S T H E F O U N DAT I O N O F O U R E N T I R E C R E AT IV E P RO C E S S – A PA S S I O N F O R CA R S . A PA S S I O N W E WO U L D L I K E TO S H A R E W I T H YO U . > > > E AC H B R A N D I S A WO R L D O F I T S OW N . 4 06 10 12 14 Board of Management/Supervisory Board Report of the Supervisory Board The Board of Management Letter to our Shareholders Group values Financial Communication 18 Volkswagen share 24 Value-based management 26 Corporate Governance 30 40 46 50 53 58 60 66 Management Report Business development Net assets, financial position and earnings performance Volkswagen AG (condensed, according to German Commercial Code) Research and development Business processes Legal matters Risk report Outlook contents 40 ▼ net assets, financial position and earnings performance Sales revenue at prior year level Despite the negative effect of exchange rate movements, the Volkswagen Group generated sales revenue at the level of the previous year. However, earnings reflected unfavourable underlying conditions and special items. 12 ▼ letter to our shareholders Change and progress Our efforts are targeted at the goal of continuously enhancing the value of the Company as you, our shareholders, perceive it. 12 ▼ 14 ▼ 18 ▼ volkswagen share An attractive investment Despite difficult market conditions...
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...Abstract Multinational hotel companies, often integrated with travel agencies and tourism businesses, play an important role in the tourism industry in developing countries. Introduction of multinational hotel companies is always regarded as an opportunity to benefit host countries through provision capital and market connections. However, the activities of multinationals could also be threats to these countries. This paper reviews the potential costs of multinational hotel companies involvement like decreased economic benefits, foreign domination and negative environmental and cultural consequences. Furthermore, it illustrates some possible solutions for developing countries to reduce the adverse effects which could balance the advantages and disadvantages of multinational involvement and create a brighter future. 1. Introduction A multinational hotel companies, as a type of multinational enterprises, which is identified as an enterprise that owns or controls value-adding activities in the accommodation sector in two or more countries. It is widely accepted that most of developing countries are seeking opportunities to introduce multinational hotel companies because developing countries could obtain several benefits from the presence of multinational hotel companies, such as provision of capital, transfer of technical and managerial expertise, provision market connections,etc. It is true that multinational hotel companies can contribute to the growth of economy in...
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...CHAPTER 1 INTRODUCTION TO INTERNATIONAL ACCOUNTING Chapter Outline I. International accounting is an extremely broad topic. A. At a minimum it focuses on the accounting issues unique to multinational corporations, especially with respect to foreign operations. B. At the other extreme it encompasses the study of the various functional areas of accounting in all countries of the world, as well as the activities of a number of supranational organizations. C. This book provides an overview of the broadly defined area of international accounting, with a focus on the accounting issues encountered by multinational companies engaged in international trade and invested in foreign operations. II. There are several accounting issues encountered by companies involved in international trade. A. One issue is the accounting for foreign currency-denominated export sales and import purchases. An important issue is how to account for changes in the value of the foreign currency-denominated account receivable (payable) that occur as exchange rates fluctuate. B. A related issue is the accounting for derivative financial instruments, such as forward contracts and foreign currency options, used to hedge the foreign exchange risk associated with foreign currency transactions. III. There is an even greater number of accounting issues encountered by companies that have made a direct investment in a foreign operation. These issues primarily result from the fact that GAAP...
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...CHAPTER 1 INTRODUCTION TO INTERNATIONAL ACCOUNTING Chapter Outline I. International accounting is an extremely broad topic. A. At a minimum it focuses on the accounting issues unique to multinational corporations, especially with respect to foreign operations. B. At the other extreme it encompasses the study of the various functional areas of accounting in all countries of the world, as well as the activities of a number of supranational organizations. C. This book provides an overview of the broadly defined area of international accounting, with a focus on the accounting issues encountered by multinational companies engaged in international trade and invested in foreign operations. II. There are several accounting issues encountered by companies involved in international trade. A. One issue is the accounting for foreign currency-denominated export sales and import purchases. An important issue is how to account for changes in the value of the foreign currency-denominated account receivable (payable) that occur as exchange rates fluctuate. B. A related issue is the accounting for derivative financial instruments, such as forward contracts and foreign currency options, used to hedge the foreign exchange risk associated with foreign currency transactions. III. There is an even greater number of accounting issues encountered by companies that have made a direct investment in a foreign operation. These issues primarily result from the fact that GAAP...
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...Foundations and Trends R in Finance Vol. 4, No. 4 (2009) 247–325 c 2010 V. V. Acharya, T. Cooley, M. Richardson and I. Walter DOI: 10.1561/0500000025 Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007–2009 By Viral V. Acharya, Thomas Cooley, Matthew Richardson and Ingo Walter Contents 1 Introduction 2 How Did We Get There? 2.1 2.2 2.3 The Panic of 1907 and Its Aftermath Bank Competition, Financial Innovation and Risk-Taking in the Last Decades of the 20th Century Risk-Taking Incentives of Financial Institutions 249 253 253 258 264 3 The New Banking Model of Manufacturing Tail Risk 4 Alternative Explanations of the Financial Crisis 5 Conclusion A Appendix: Tail Risk in the Rest of the World References 273 292 311 314 320 Foundations and Trends R in Finance Vol. 4, No. 4 (2009) 247–325 c 2010 V. V. Acharya, T. Cooley, M. Richardson and I. Walter DOI: 10.1561/0500000025 Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007–2009 Viral V. Acharya1 , Thomas Cooley2 , Matthew Richardson3 and Ingo Walter4 1 2 3 4 Stern USA, Stern USA Stern USA Stern USA School of Business, New York University, New York, NY 10012, vacharya@stern.nyu.edu School of Business, New York University, New York, NY 10012, School of Business, New York University, New York, NY 10012, School of Business, New York University, New York, NY 10012, Abstract We argue that the fundamental cause of the financial crisis of 2007–2009 was that large, complex...
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...reluctant to cut dividends when cuts are warranted. The dividend behavior of bank- and foreign-controlled firms lies in between stateand family-controlled firms. This is consistent with the expected ‘‘ranking’’ of information asymmetries and managerial agency costs. The above results hold for firms with good investment opportunities. We find that firms with low growth opportunities optimally disgorge cash irrespective of who controls the firm. Ó 2002 Elsevier Science B.V. All rights reserved. JEL classification: G3; L2; D9 Keywords: Corporate governance; Dividend policy; Simultaneous equations 1. Introduction In March 1999, Richard Schenz, the CEO of OMV AG, the largest Austrian corporation, announced a dividend increase of 10% despite the fact that ordinary earnings had declined by 47%. In April 2000, Claus Raidl, the CEO of B€hler–Uddeholm o AG, an Austrian steal company, announced an earnings drop of 31%, nevertheless * Tel.: +43-1-4277-37467; fax: +43-1-4277-37498. E-mail address: klaus.gugler@univie.ac.at (K. Gugler). 0378-4266/02/$ - see front matter Ó 2002 Elsevier Science...
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...For the exclusive use of N. Sinden, 2015. 9-602-061 REV: MARCH 18, 2002 STEFAN THOMKE Siemens AG: Global Development Strategy (A) It was the spring of 2000, but even under the afternoon shade of the palm trees at the Oberoi hotel in Bangalore, South India, it felt like summer. Horst Eberl sat contemplating the recommendations that he and his subdivisional co-head, Karl-Friedrich Hunke, would be preparing for the Siemens Information and Communications Networks (ICN) management board. Things were neat, tidy, and cool on this grassy side of the hotel. Just outside the main walls however lay the dust, pollution, and confusion of the Indian traffic. And if one took life in one’s hands by darting through the traffic, across the street lay Siemens’ regional development center in India, scattered among floors rented in three different office buildings. Two back-up power generators, as well as battery backup for all computers, helped ensure a reliable infrastructure for the 600 personnel here. What vexed Eberl and Hunke was that Deutsche Telekom, Siemens ICN’s largest customer, was upset because of slow product delivery on a new telecommunications software product, the so-called NetManager. For a variety of reasons the project had rapidly mushroomed in size and scope beyond what had been initially envisioned. To solve the problem, Eberl, co-head of ICN’s largest subdivision, had to travel some 7000 kilometers to this dusty corner of the world: despite the conveniences...
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...Introduction It is a mandatory requirement for public companies in most countries to produce a financial report on a periodic basis for relevant regulatory bodies and shareholders. The financial report usually includes a director’s report, three financial statements and an audit report, as well as relevant notes to the accounts. This paper will look at the financial reporting practices of four companies in a comparative international context from a user’s perspective. This report was not completed to assess the performance of the selected companies. Instead the research objective of this paper is to analyze the annual reports of the four top tier companies in the global airline industry and observe which airlines disclose the most useful information, within their annual reports, for me as a user. How you read an annual report depends upon your purpose. As an investor, your purpose may be to assess: profitability, survivability, growth, stability, dividends, risks and other factors which may affect your investment in that company. This paper focuses upon five aspects of reporting within the companies’ annual reports that were the most relevant to me as a user: geographic segmentation, the auditor’s report, presentation, fuel risk, and the letter to the shareholders. Delta Airlines was chosen as the base airline to compare the other three airlines to; China Southern Air, Emirates Air, and Lufthansa Air. The analysis resulted in a very distinct successor. Emirates Air...
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...rising consumer demand after the crash. How they attempted to make a profit after the crash and discuss any unethical practices. T-Mobile USA and AT&T provide mobile wireless communication services. The Companies offer wireless services including digital voice, messaging, and high-speed wireless data services, as well as phones and accessories. The companies serve customers throughout the United States. T-Mobile USA, Inc. is a global marketing-information-services firm, ranked the company highest among major wireless carriers for retail-store satisfaction four years consecutively and highest for wireless customer care for the past two years consecutively. Deutsche Telekom Case Study (2012) discusses that T-Mobile USA, Inc. which operates as the U.S. operating entity of T-Mobile International AG, the mobile-communications holding company and...
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...AN EASSY ON TOPIC: CRITICALLY EXAMINE THE PEFORMANCE OF ICPC, EFCC IN THE FIGHT AGAINST CORRPUTION IN NIGERIA WRITTEN BY AKPANG, MERCY EBOKPO MATRIC NUMBER-10/BPA-5/014 DEPARTMENT OF PUBLIC ADMINISTRATION UNIVERSITY OF CALABAR CALABAR SUMBMITTED TO MR. CHRIS N. (LECTURER) DEPARTMENT OF PUBLIC ADMINISTRATION UNIVERSITY OF CALABAR CALABAR IN PARTIAL FULFILLMENT OF THE COURSE REQIREMENT (NIGERIAN GOVERNMENT & AND POLITICS 2 OCTOBER, 2012 TABLE OF CONTENT INTRODUCTION 1.0 CONCEPTUALIZATION; CORRUPTION 1.1 A BRIEF HISTORY ON EFCC AND ICPC 1.2 CORRPUTION IN NIGERIA AND PROPELLING FACTORS THAT LEAD TO THE ESTABLISHMENT OF EFCC AND ICPC 2.0 ACHIEVEMENT AND FAILURES OF EFCC AND ICPC CONCLUSION BIBLIOGRAPHY INTRODUCTION Corruption in Nigeria is an endemic, pervasive and systematic problem, which over time has been perceived as capable of threatening the very existence of the nation. Combating corruption involves rebuilding Nigeria’s Sovereign National wealth. The Natural Capital made up in particular non-renewable energy resources and materials have been severely depleted and sold off, with most of the proceeds either looted or wasted through h mismanagement and ineffective use. Moreso, the overdependence on Natural Capital has led to the neglect of her Produced capital consisting of Infrastructure and value-Added Goods. Where resources were allocated towards...
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...R E S E A R C H includes research articles that focus on the analysis and resolution of managerial and academic issues based on analytical and empirical or case research International Marketing Strategies in India: An Application of Mixed Method Investigation Prathap Oburai and Michael J Baker Executive Summary KEY WORDS International Marketing Strategy Grounded Theoretic KEY WORDS Approach Privatization Case Research Methodology Indian Banking Internationalization drives and export orientation are prominent in the organizational strategies of a number of leading Indian firms and multinationals located in India. This is a significant indicator of the growing competitiveness of firms, industries, and the nation. This paper examines the sources of competitive advantage in a few selected sectors and firms and explores the internationalization possibilities and potential. International marketing strategies are complex and tend to vary widely across nations, industries, and firms. The elements that form the ingredients of international strategies are numerous and their importance is tightly interwoven to contexts. With a view to enrich the existing body of international marketing theory, the authors investigate the international marketing strategies adopted in 12 different business sectors in India in an attempt to explore and explain the similarities and differences found in this varied set of industries. The examples span the old economy industries such as the assembly...
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...Copyright and the Internet Hector L MacQueen*(* LLB (Hons), PhD, FRSE, Professor of Private Law, University of Edinburgh, email hector.macqueen@ed.ac.uk. This is a substantially revised, updated and rewritten version of the chapter which appeared under the same title in L Edwards and C Waelde (eds), Law and the Internet: Regulating Cyberspace (1997). I am grateful to those who commented upon that earlier version, to those who sent me information about developments on the Internet (especially Dr Athol Murray), and to the editors once again for their help, guidance and patience over a prolonged period.) Introduction A major issue for copyright lawyers at the present time is how to deal with the rapid development of the Internet and the prospect of the ‘information superhighway’, world-wide telecommunications systems which permit the rapid, indeed virtually instantaneous transmission around the world, at times chosen as much by individual recipients as by transmitters, of information and entertainment in all media - print, pictures still and moving, sound, and combinations thereof. The issues are manifold. Is the ease of perfect reproduction and manipulation of material in the digital form used by our communications systems the death-knell of the whole basis of copyright? Are we at least going to have to reconsider such fundamentals of copyright law as what constitutes publication, copying and public performance, or the old distinctions between categories of work such as literary...
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...A COMPARATIVE STUDY OF STANDARD COSTING SYSTEMS OF TWO COMPANIES CERTIFICATE FROM THE ORGANISATION TABLE OF CONTENTS Sr. No. | Chapter Name | Page No. | 1. | Acknowledgement | 5 | 2. | Preface | 6 | 3. | Objective and Introduction | 7 | 4. | A Brief about the two Companies | 8 | 5. | Standard Costing System | 12 | 6. | Findings | 15 | 7. | Conclusion | 17 | ACKNOWLEDGEMENT We owe much gratitude to all the people who have helped and supported us during the conduct of this project. Our sincere thanks to our Professor Prof. L.N. CHOPDE for giving us the opportunity of practically studying standard costing systems of organizations with the help of this project. He has been a perfect guide through all the lectures and has helped a lot throughout the preparation of the project. Our deep sense of gratefulness to Mr. Anil Rasal for his support and guidance. Thank and appreciation to the staff of both the banks for their support too. We would also like to thank the institution – M.E.T. College and the faculty members without whom this project would have been a distant reality. PREFACE Comparative Study of Accounting System of Gunnebo India Pvt. Ltd and Ashok Leyland Ltd.: As part of the project we have studied the standard costing systems and the general accounting related to it followed by Gunnebo India Pvt. Ltd and Ashok Leyland Ltd. As per the guidelines given for the project we have taken the two companies. Both are manufacturing...
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