...World Economics – Outcome 2 Dionne Rendall Question 7 The UK balance of payments are made up of; * The financial account balance * The capital account balance * The current account balance The financial account balance takes account of the sale of assets and purchase of them, i.e. loans, property, bank deposits and cross-border exchanges. In relation to the capital account balance it consists of the monetary values relating to the transfer of ownership of things such as land, and records the outflows and inflows from people that are selling abroad and purchasing. The current account balance is made up of the balance of trade in goods, the balance of trade in services and the income balance and the current transfer balance. Collectively they show the money spent by a country on exports and the amount they have spent on imports, in regards to the UK they are exporters and importers of holidays and education. Question 8 Looking at the current balance from 1980 to 1920, it is clear that the UK has had a significant increase in the value of goods they have been able to export which enables them to be seen as a large contributor to the market. Due to the Global Financial Crisis of 2007-2008 this accounts for the lowest figure to date for the UK’s balance of trade in goods and services of -£36,733. There has been an increase of 859.6% between 1997 and 2012 of the quantity of oil imported to the UK, as oil is a necessary fossil fuel it is a necessary purchase...
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...supply and demand conditions of relevant currencies in the market transaction of currency exchanges occur in the foreign exchange markets. For example, currently, the £1 is worth $1.67 which means that at this stage, the pound is stronger than the dollar. Businesses should ensure that they frequently check the exchange rates to see if any changes to their prices need to be made or if the exchange rate benefits them. If Iron Bru were to export a large amount of products to a country such as Germany or Poland, there will be an exchange rate applied which can then increase or decrease the amount of money the company would have to pay. The exchange rate occurs when a demand for the supply of goods is applied when making a transition. UK – Pounds | USA - Dollars | £1.00 | 1.20 | | Why may language be a barrier in selling IRN BRU in Germany? Give some examples of where language as caused difficulties in business. (Analysis)When exporting and importing to and from different countries, companies may find that communication problems will occur, mainly due to the fact that English may not be the first language spoken In that particular country. Iron Bru are a British manufactured company which means that when selling their products to countries where English isn’t spoken we could be a problem.32% of the German environment knows how to speak English, which leaves 58% of Germany not knowing how to speak English. If Irn Bru plans towards selling their items then they should consider...
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...The aim of this research paper is to discuss and compare two health care systems in the USA, the GPs and NHS systems, the relation between expenditure on these systems and efficiency of them. Another aim of the essay is to compare heath care systems in different countries and find out whether the dominance of public or private spending is optimal for the society; here the comparison between UK and USA health care system will be appropriate. Question #2 In the USA nowadays the Private Health Insurance system is the major provider of health care cervices. Is this situation adequate to the demands of the tax payers and is it effective for different categories of people who need medical treatment? Should the ratio between private and public sectors in health care be changed and should the organization of both systems be reformed? Let us first of all define what is health. These can be two ways to define it: 1) Negative: the absence of disease 2) Positive: “a state of complete physical, mental and social well-being.” (World Health Organization, 1946). Therefore we can outline two aims of health policy: to improve health and to reduce health inequalities. In terms of the first definition, the US health care system is efficient. In terms of the world-accepted definition, the second one, the US health care system is expensive and in many cases not efficient. Let us analyze the relation between costs and effectiveness in this system. First of all let us trace the development and progress...
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...Petroleum Company Netherlands 60% The “Shell” Transport and Co, PLC UK 40% The Shell Petroleum Company LTD. UK Shell Petroleum Inc. USA Shell Petroleum NV Netherlands Service Companies Operating Companies Shell Oil Company USA Individuals and Institutions Individuals and Institutions Royal Dutch Petroleum Company Netherlands 60% The “Shell” Transport and Co, PLC UK 40% The Shell Petroleum Company LTD. UK Shell Petroleum Inc. USA Shell Petroleum NV Netherlands Service Companies Operating Companies Shell Oil Company USA 2. What are ADRS? Why might companies find it attractive to issue ADRs? ADRS stands for American Depository Receipts, which is an underlying security that trades in the US financial markets. Foreign companies would find it attractive to issue ADRs because it would allow US investors to invest in their company, potentially increasing the value of the company. 3. Identify price differentials between different equity listings of the Royal Dutch/ Shell Group. How can they be explained? What percentage of the particular price differentials you identified can be due to the explanations you suggested? In Exhibit 8 of the case study, Royal Dutch was trading for $141.368 in Europe and $141.375 in New York (a 7 cent differential). Shell was trading for $124.222 in Europe and $126.554 in New York (a $2.332 differential). These price differences...
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...Hernandez Ms. Lily Healthcare System History The aim of the essay is to compare heath care systems in different countries and find out whether the dominance of public or private spending is optimal for the society; here the comparison between UK and USA health care system will be appropriate. Question #2 In the USA nowadays the Private Health Insurance system is the major provider of health care services. Is this situation adequate to the demands of the tax payers and is it effective for different categories of people who need medical treatment? Should the ratio between private and public sectors in health care be changed and should the organization of both systems be reformed? Let us first of all define what is health. These can be two ways to define it: 1) Negative: the absence of disease 2) Positive: “a state of complete physical, mental and social well-being.” (World Health Organization, 1946) Therefore we can outline two aims of health policy: to improve health and to reduce health inequalities. In terms of the first definition, the US health care system is efficient. In terms of the world-accepted definition, the second one, the US health care system is expensive and in many cases not efficient. Let us analyze the relation between costs and effectiveness in this system. First of all let us trace the development and progress of both health care systems. The basis for current health care system was established after the World war II, when private doctors were serving...
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... CT0203124 UCD ID: 14207863 Case 1. Question 1A) Figure 1.0 Hofstede’s Five Cultural Deminsions for Germany, UK, USA and Japan. (Data from Geert-hofstede.com,n.d) Figure 1.0 is a bar chart that presents the full data of all four cultures. (Germany, UK, USA, and Japan) Other than two dimensions (Individualism and uncertainty avoidance) that have been discussed in the case, the rest of the three dimensions will be discussed in following article. Masculinity Masculinity shows whether the society is driven by competition or quality of life (Geert-hofstede.com, n.d). According to figure 1.0, all four cultures are masculine culture. USA scored at the lowest of 62, followed by Germany and UK at the score of 66. The highest score in Masculinity is Japan, at 95. Although Japan has an extremely high score at Masculinity dimension, due to its collectivism, there are not much intense competitions between individuals. Power Distance Power distance is referring to how people within the society react to unequal power distribution. The higher the score is, the higher acceptability for unequal power distribution by the society will be. This time, UK and Germany again scored at the same mark of 35, and USA has a slightly higher score of 40. It shows that all three western countries have a low power distance culture, means that people from these culture believes that people should be treated equally...
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...Diversity 5 Legislation and Problems they Solve 6 Emergence of Managing Diversity 7 HRM 8 Relationship with Managing Diversity 9 HRM in the UK vs. USA 10 Reasons Supporting HRM 11 Critical Arguments Posed to HRM 11 Recommendations 11 Conclusion 11 References 11 Introduction In this report I will be investigating managing diversity and taking a look at how it has developed and how it has had an impact on everything in life. I will mainly focus on how this has had an effect in the workplace and look at key arguments that support diversity and look at arguments against diversity in the workplace and why this may be considered a negative or a hindrance and most importantly I will look at how successful this has been at helping companies maximise their assets and key areas that I have identified that need to be improved. In the second part of my report I will examine the close links of managing diversity and human resource management (HRM). I will look at factors that support it and arguments that need to be considered when looking at HRM. Diversity Diversity in people can be described as the subtle differences between each human and varied characteristic’s that make people who they are. These characteristics can range from colour of skin to sexual orientation to how much hair you have on your head. These differences mean that everyone is different which means people have different needs and to respect and recognise that no is better than other is the basis...
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... Executive Summary Today’s world has gone global. This globalization has led to the collaboration among manufacturers of products, suppliers of materials and service providers situated across the globe. The markets are no more restricted to a specific region or a country. The boundaries and distances between the markets have vanished. Saturation in developed markets has led to exploration and exploitation of emerging markets. The expansion of geographic footprint is not happening only to meet business needs, but this is happening also to promote social causes (Education, Health Awareness) and to mitigate global risks (Global Warming). Therefore, for the purpose of effective functioning, there is a strong need to learn about Cross-Cultural Communication. It is true that any usage of an inappropriate word, an impression or a gesture can lead to serious business or social implications. These cross-cultural communication blunders can then lead to lost customers, failed relationships and lost opportunities. To become an effective communicator worldwide, one should anticipate and identify cultural differences, draw clues and cues from non-verbal communication styles and be respectful to other cultures. To learn other’s cultures, one can extract information from experiences of friends, relatives and professional...
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...Age and Ageing 1997; 26-S2: 3 -12 Nursing homes in 10 nations: a comparison between countries and settings M I E L W . RIBBE, GUNNAR LJUNGGREN1, KNIGHT STEEL2, EVA TOPINKOVA3, CATHERINE HAWES4, NAOKI IKEGAMI5, JEAN-CLAUDE HENRARD6, PALMI V. JONNSON7 Department of General Practice, Nursing Home Medicine and Social Medicine, Medical Faculty, Vrije Universiteit, Van der Boechorststraat 7, 1081 BT Amsterdam, The Netherlands 'Stockholm, Sweden, 2Hackensack, NJ, USA, 3Prague, Czech Republic, ^Research Triangle Park, NC, USA, 5 Tokyo, Japan, 6Paris, France and Reykjavik, Iceland Abstract Aim: to illustrate demographic differences and recent trends in the provision and structure of long-term care systems in the 10 countries participating in the Resident Assessment Instrument studies (Denmark, France, Iceland, Italy, Japan, The Netherlands, Sweden, Switzerland, the UK and the USA). Method: data were assembled from government documents, statistical yearbooks and articles from journals; supplemental data on long-term care and nursing homes were solicited from colleagues. Results: All 10 countries are developed nations with high life-expectancies. Sweden has the oldest and Iceland the youngest population in this study, with Japan showing the highest ageing rates over the next three decades. Between 2 and 5% of elderly people reside in nursing homes. Interestingly, Iceland, as the youngest country' in this study, has the highest rate of institutionalization (living...
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...How democratic is the UK political system? In the UK we have a political system which is, essentially, democratic. As there are some 63 million people living in the UK, complete democracy – whereby the public decide on everything – would be impossible, as there would need to be constant referendums. Representative democracy means that elected politicians represent each constituency in the country; this aims to be a democratic system where each politician acts in the interests of their constituents. However, this system could be undemocratic as each MP belongs to a specific party, and therefore could vote on behalf of their party rather than with the opinions of the constituents. Although Britain is a democracy, some people and institutions which have power have not been elected by the people. This could be seen as undemocratic. An example of this is the House of Lords; the members are unelected, yet still hold power as bills cannot be passed without being considered by both Houses. The House of Commons could be viewed as more democratic than the Lords, as all MPs are elected, for example Ian Lucas was elected as the MP for Wrexham. The UK has a ‘first past the post’ electoral system. Many seen this as undemocratic as it allows a political party to gain seats in parliament even if another party had thousands more votes. An example is the Green party, who gained a seat in parliament with around 300,000 votes in the last election. UKIP had over three times this amount of...
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...Weak form Efficiency and Calendar Anomalies: Comparison between Developed and Developing Equity Markets Syed Zulfiqar Ali Shah Assistant Professor-Finance, Department of Business Administration Faculty of Management Sciences, International Islamic University Islamabad E-mail: zulfiqar.shah@gmail.com Muhammad Husnain Ph.D Scholar (Finance) Mohammad Ali Jinnah University Islamabad Email: Husnain_ctn@yahoo.com Abstract Financial economists have continuously questioned the efficient market hypothesis especially in last decade. Major part of discussion is whether the equity markets are efficient and if not then up to what extent one can forecast the meaningful future movement of equity prices. On one side there are believers of random walk and contrary there are followers of chartist theories. Those who negate the random walk suggested that there exist anomalies in the equity markets and hence are not perfectly efficient. The major objective of this study is to check the weak form of efficiency and presence of calendar anomalies in equity markets of developing and developed countries. On the basis of most recent and relatively longer horizon (14 Year) data on daily basis and a range of powerful econometrics this study suggested that in broader sense both of developed and developing equity markets are weak form inefficient. Hence there is no remarkable difference in term of market efficiency in equity markets of developed and developing countries. Hence one can reject the random walk...
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...Bombardier International Business Goran Vitic, Tim Subion, Tim Dunkin, Dan Table of Contents Introduction 3 Top Two Countries 3 United States 4 United Kingdom 7 Political, Economical & Cultural 8 Political Differences 8 United States: 8 United Kingdom: 10 Economic 11 United States: 11 United Kingdom: 12 Culture 12 United States 12 United Kingdom 12 Overcoming Differences 13 United Kingdom 14 Opportunities 14 America 15 Opportunities 15 Threats 15 Conclusion 16 Executive Summary 16 Works Sited 17 Introduction Bombardier’s headquarters is located in Montréal, Canada. It is a publically traded company on the Toronto Stock Exchange, traded under BBD. At the end of the fiscal year January 31, 2011, the company had posted revenues of $17.7 billion USD. Bombardier’s goal is to earn worldwide leadership in aerospace and rail transportation. The company’s mission statement successfully depicts the firm. We are committed to providing superior value and service to our customers and sustained profitability to our shareholders by investing in our people and products. We lead through innovation and outstanding product safety, efficiency and performance. Our standards are high. We define excellence and we deliver . Bombardier started with inventor and entrepreneur J. Armand Bombardier, founder in 1942 through his invention of the snowmobile. Laurent Beaudoin, the son-in-law took the reins of...
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...that resulted from barriers created by distance. The CAGE Framework of distance by Ghemawat explained distance as 4 main attributes – Cultural, Administrative, Geographic, Economic.1 To address these risks and costs, it is crucial to first assess the extent and type of differences between the USA market and the United Kingdom market. Amazon’s entry into United Kingdom (UK) can be attributed to minimal distance and various similarities, which allowed Amazon to significantly reduce risks and costs. Primarily, the UK market has a lot of similarities to the US market in terms of cultural, administrative and economic distance. UK has the second most number of native English speakers (60 million), after US (231 million), and is also the place where English was first spoken. Since books were the primary products sold by Amazon, the similarity in language made it extremely ideal for Amazon to target the UK market. Moreover, the GDP Per Capita of US and UK were not significantly different, with US having a GDP Per Capita of $32,949 and UK’s GDP Per Capita being $26,144 in 1998. Gini Index, unemployment rates and inflation rates of UK and US also showed minimal differences.2 These depicts the similarities between UK and US in...
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...career paths; a look at succession planning at AT&T; a report on recruitment and development of international managers; and an examination of age discrimination in recruitment. Personnel Review, Vol. 22 No. 5 1993, pp. 5-14. ©MCBUniversity Press, 0048-3486 Employment effects of changing multinational strategies in Europe J. Hamill in European Management Journal (UK), Sep 92 (10/3): p. 334 (7 pages) Presents a broad overview of changing multinational enterprise strategies in Europe in recent years—such as the shift from multiple-domestic to globally/regionally co-ordinated production/logistics systems; the wave of cross-border mergers, acquisitions and strategic alliances; the rapid increase in foreign direct investment, mainly by Japanese companies and by emerging MNEs in sectors such as IT and electronics; and transnational strategies involving dispersion of product/market responsibilities to regional centres of excellence—and their associated positive and negative employment effects. WF18 Manpower Planning and Recruitment 7 Focus from the start (new employee induction) J. P. McCarthy in HRMagazine (USA), Sep 92 (37/9): p. 77 (4 pages) Based on the experience of Metropolitan Property and Casualty Insurance, which recently reviewed its strategy for introducing new employees to working for the company, lists the keys to an effective orientation system (it should have a flexible structure, emphasize self-development, and directly support job training among other things)...
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...culture Organisations are very aware now of cultural differences between different countries and regions. You may think that a Big Mac is relatively similar in any of the 32,000 McDonald’s outlets in more than 100 countries as it seems to be symbolic of the organisation’s brand. Indeed, a bun with beef would have effectively summed up the offering when the organisation first started. In France, a country not previously known for its fast-food culture, it is known as ‘Le Big Mac’ and is strictly made with only French beef. In India, where beef is banned in many states, they have their own versions with various chicken and vegetarian options. The kebab version is most popular in the Middle East, and in McDonald’s in Israel you would not be able to purchase a milkshake drink in a kosher branch. The global brand has transformed itself successfully to fit in with local cultural differences and, as local culture has evolved, they have responded accordingly. A good example of this is the change to more salad-based offerings in the USA and UK as customer preferences have changed. In the UK in particular it is now possible to have free Wi-Fi, eat free-range eggs and drink organic milk. This is a long way from the very American beef-eating outlet that originated in San Bernandino over 70 years ago. © Routledge UNLOCKING THE BUSINESS ENVIRONMENT Questions 1. Do you think that McDonald’s would be as successful in the USA toady if they had not responded to changing cultural...
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