...Research Assignment: “Asia’s performance during the global financial crisis has highlighted its flexibility. This flexibility, in part, arises from transformations undertaken in response to the Asian financial crisis a decade earlier.” Student Name: Eric Rodrigues Student Name: Mehmet Edib Unal Introduction The Asian Financial Crisis occurred during the year 1997-1998, and is explained well in brief by Galina Hale “East Asian countries experienced severe banking crises. Nonperforming loan ratios skyrocketed because of prior excessive risk taking and most banks had to be recapitalized by their governments.” (Hale 2011, p.3) After ten years, The Asian Financial Crisis was followed by The Global Financial Crisis in 2008. “The precise genesis of the global crisis remains subject to debate. (Lin 2012, Treichel 2012, p.3) “We will argue that global imbalances were the result of the large excess demand in the U.S. over an extended period—the financing of which was made possible by the reserve currency status of the US dollar. “This excess demand resulted from both the public debt” and “the overconsumption by households.” (Lin 2012, Treichel 2012, p.3) “As shock waves of the global financial crisis (GFC) reached East Asia in autumn 2008 immediately after the collapse of Lehman Brothers in September, the region faced the task of evaluating and reassessing the economic cooperation efforts of the previous ten years” (Katada 2011, p.274) Thus by evaluating and reassessing...
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...ELECTRONIC ASSIGNMENT COVERSHEET | | Student Number | 32528997, 31705221, 32509568, 32662752 | Surname | Padam, Veetil, Sasidharan and Jacob | Given name | Rashpal, Biju, Rahul and Jefin | Email | Biju.veetil@murdochdubai.ac.ae | | | Unit Code | MBS630 | Unit name | International Business | Enrolment mode | Internal / external | Date | 28 Feb 2016 | Assignment number | Assignment 1 | Assignment name | Case Study – India’s Economic Transformation | Tutor | Tracie Scott | Student’s Declaration: * Except where indicated, the work I am submitting in this assignment is my own work and has not been submitted for assessment in another unit. * This submission complies with Murdoch University's academic integrity commitments. I am aware that information about plagiarism and associated penalties can be found at http://www.murdoch.edu.au/teach/plagiarism/. If I have any doubts or queries about this, I am further aware that I can contact my Unit Coordinator prior to submitting the assignment. * I acknowledge that the assessor of this assignment may, for the purpose of assessing this assignment: * reproduce this assignment and provide a copy to another academic staff member; and/or * submit a copy of this assignment to a plagiarism-checking service. This web-based service may retain a copy of this work for the sole purpose of subsequent plagiarism checking, but has a legal agreement with the University that it will not share or reproduce...
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...The Hindu rate of growth is a derogatory term referring to the low annual growth rate of the planned economy of India before the liberalizations of 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%. India’s economic performance during the first three decades since independence was christened the “Hindu” rate of growth, a term connoting a disappointing but not disastrous outcome The word "Hindu" in the term was used by some early economists to imply that the Hindu outlook of fatalism and contentedness was responsible for the slow growth. The later economists attribute the rate to the Government of India's protectionist and interventionist policies (see Licence Raj), rather than to a specific religion or to the attitude of the adherents of a particular religion. That cliché, of course, is gradually lapsing into disuse thanks to the remarkable transformation in India during the last two decades. Since 1980, its economic growth rate has more than doubled, rising from 1.7 percent (in per-capita terms) in 1950-1980 to 3.8 percent in 1980-2000 Until 1991, India’s policy makers followed misguided policies that closed the economy to international trade, erected inefficient industries under state guidance, riddled the private sector with extraordinarily cumbersome and detailed regulations, and suffocated private economic activity with controls and bureaucratic impediments. Then in 1991, the big breakthrough happened. Spurred by a...
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...Leading Change at TATA Motors Established in 1954, TATA Motors Limited is India's largest integrated automobile company, with consolidated revenues of 20 billion USD in 2009-10. It is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. The company is the world's fourth largest truck manufacturer, and the world's largest bus manufacturer. TATA Motors in 2005 was ranked among the top 10 corporations in India. In 2010, TATA surpassed Reliance to win the coveted title of 'India's most valuable brand' in an annual survey conducted by Brand Finance and The Economic Times. The company's 24,000 employees are guided by the vision to be "best in the manner in which we operate best in the products we deliver and best in our value system and ethics." Their mission is “to be committed in letter and spirit to Corporate Social Responsibility." The 5 core TATA values are Integrity, understanding, excellence, unity and responsibility. Originally founded as TELCO by the Tatas in 1945, the locomotive manufacturing unit later expanded its operations to the commercial vehicle sector after forming a joint venture with Daimler-Benz AG of Germany in 1954. TATA vehicles are sold primarily in India, and over 4 million vehicles have been produced domestically since the first TATA vehicle was assembled since the merger. The multinational corporation is headquartered in Mumbai...
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...The Brics’ role in the global economy Paulo Roberto de Almeida In: Cebri-Icone-British Embassy in Brasília: Trade and International Negotiations for Journalists (Rio de Janeiro, 2009, p. 146-154; ISBN: 978-85-89534-05-5). ∗ 1. Where do they come from and what are the Brics? In demographic terms, BRIC holds the world’s two most populated countries and another two with considerable populations. China alone holds a fifth of the world’s population, and is closely followed by India (17.5%) and, by a larger gap Brazil (2.9%) and Russia (2.2%). Despite their large territories – Russia’s 17 million km2, India’s 3.2 million km2, China’s 9.3 million km2 and Brazil’s 8.5 million km2 –, the Brics differ from each other in terms of natural resources, level of industrialization and impact on the global economy. It is important to point out these differences, as definition as a bloc might lead to wrongful assumptions about the four countries’ individual current and future roles in the global economy. In order to be accurate about each country’s actual weight in the world, we should perhaps change the acronym to CIRB (but without the glamour of the name). Let us begin with China, which is the most continuous civilization in history – not strictly in terms of political linearity but rather in terms of cultural continuity. The country has a tragic contemporary history, marked by economic decadence, political instability, military humiliation and social regression caused by a deep degradation...
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...demand tilts away from goods towards services. Increased government spending on services (such as education and health) adds to this process. Because comparative advantage between countries changes over time, we expect to see nations switching their resources to industries where they can exploit a new advantage. In Britain’s case, it is widely held that financial service is a sector where they hold a significant advantage over other nations. However the rate at which this structural transformation takes place must vary from country to country. Even within the so-called advanced economies that make up the OECD (Organization for Economic Cooperation and Development) there are wide differences in the contributions to output from each industry....
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...Transformation Series 2015 - Case INNOVATION or INNOVATION PRELUDE Business history has many examples of companies redefining the boundaries of business through break-through innovation, there are also those who made the tragic mistake of missing ‘gamechanging innovations’ in their industry thereby ending up with inexorable commercial disasters. In each case, the disaster occurred, as the Wall Street Journal, points out, “not because of ‘bad’ management, but because they followed the dictates of ‘good’ management. They listened closely to their customers. They carefully studied market trends. They allocated capital to the innovations that promised the largest returns. And in the process, they missed disruptive innovations that opened up new customers and markets for lower-margin, blockbuster products.” The threat of disruption, on many an occasion, isn’t perceived as a threat! The disruptor appears to the incumbent to be doing the incumbent a favor by relieving the incumbent of its ‘least valuable’ customers. In due course, the disruptor moves upstream and relieves the incumbent of its most valuable customers. Seemingly, no industry is spared: steel, computers, telephony, photography, stock markets; the list goes on. Will it be Banks next? Burdened with legacy systems, infrastructure cost and increasingly complex security issues, banks are dealing with a double whammy: grappling with intense regulatory scrutiny as a result of a prior “missteps,” while a generation of disruptors...
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...Introduction BRIC is used in economics to refer to the combination of Brazil, Russia, India, and China which make up over 42% of the world's population. These nations are going to play a major role in the future of global economy. BRIC or BRICs are terms used in economics to refer to the combination of Brazil, Russia, India, and China. General consensus is that the term was first prominently used in a thesis of the Goldman Sachs investment bank. The main point of this 2003 paper was to argue that the economies of the BRICs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. Goldman Sachs argues that the economic potential of Brazil, Russia, India, and China is such that they may become among the four most dominant economies by the year 2050. The thesis was proposed by Jim O'Neill, global economist at Goldman Sachs. These countries are forecast to encompass over thirty-nine percent of the world's population. Goldman Sachs predicts China and India, respectively, to be the dominant global suppliers of manufactured goods and services while Brazil and Russia would become similarly dominant as suppliers of raw materials. Cooperation is thus hypothesized to be a logical next step among the BRICs because Brazil and Russia together form the logical commodity suppliers to India and China. Thus, the BRICs have the potential to form a powerful economic bloc to the exclusion of the modern-day G8 status. Brazil is dominant in...
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...Examine India’s balance of payments in the last two decades. What have been the trends in terms of merchandise trade, invisibles and capital flows? The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time. Usually, the BOP is calculated every quarter and every calendar year. All trades conducted by both the private and public sectors are accounted for in the BOP in order to determine how much money is going in and out of a country. If a country has received money, this is known as a credit, and, if a country has paid or given money, the transaction is counted as a debit. Theoretically, the BOP should be zero, meaning that assets (credits) and liabilities (debits) should balance. But in practice this is rarely the case and, thus, the BOP can tell the observer if a country has a deficit or a surplus and from which part of the economy the discrepancies are stemming. DIVISION OF BALANCE OF PAYMENTS The BOP is divided into three main categories: the current account, the capital account and the financial account. Within these three categories are sub-divisions, each of which accounts for a different type of international monetary transaction. The Current Account The current account is used to mark the inflow and outflow of goods and services into a country. Earnings on investments, both public and private, are also put into the current account. Within the current account are credits and...
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...India’s Drive to Industrialization: The Tata Nano Case Study [pic][pic] STRATEGIC MANAGEMENT IN NON-MARKET ENVIRONMENTS GROUP 3 Table of Contents I. INTRODUCTION 3 II. CASE SUMMARY 3 III. BACKGROUND 3 a. A History of Tata Motors 3 b. Tata’s Nano 4 c. Politics in West Bengal 4 IV. ANALYSIS 5 a. Issues 5 b. Interests 7 c. Institutions 8 d. Information 8 V. RECOMMENDATIONS 9 a. Better Government Involvement 9 b. More Effective Branding 9 c. Tata Nano Coalition Prospects 10 d. Develop Grassroots-level communications 10 e. Create True Stakeholders 11 VI. CONCLUSION 11 VII. BIBLIOGRAPHY 11 VIII. APPENDICES 12 I. INTRODUCTION This paper analyzes the case of India-based Tata Motors and the controversial introduction of the Nano, Tata’s revolutionary inexpensive car. The case represents a study of the non-market forces that influence the decisions made by managers of big firms with an Indian national and global perspective. The paper is divided into 2 parts: The first part (sections II – III) is an overview of this particular case study, and the second part (sections IV – V), presents detailed analyses and recommendations for Tata to become successful in future investments. In addition, a bibliography and some appendices are included to illustrate the content of this...
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...Globalization and Culture 1 Globalization and Culture Change GLT1 April 17, 2012 Globalization and Culture 2 What is globalization and what affect does this have on Non-Western cultures? Merrim-Websters dictionary (2012) defines globalization as, “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. When one thinks of globalization, outsourcing may be the first thing that comes to mind. However, globalization and modernization are larger than outsourcing alone. In this paper we will look at two separate examples of native non-western cultures that have been impacted by globalization and further analyze one of these examples. In 1971 the first McDonalds opened in Japan and thus began a slow but steady change in the culture of the Japanese. Traditional Japanese culture centered greatly food and long standing rituals. Prior to the arrival of fast food in Japan, one of the most recognized practices was that of Obentos. Obentos is a process by which food is prepared and arranged by mothers for their school aged children. More than just a boxed lunch, it was significant due to its symbolism. According to Word Press (2012), “The message surrounding the Obentō is that the world is constructed very precisely and the role of any Japanese citizen is to be carried out with similar precision”. The meal further represented that the mothers were responsible for preparing...
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...Non-Western Cultures Impacted by Globalization Western Governors University Table of Contents 1. Two Non-western culture impacted by globalization ....................................................1 2. Before and after globalization ........................................................................................1 3. Case study analysis ........................................................................................................2 4. Reference Page ..............................................................................................................3 Non-Western Cultures Impacted by Globalization Globalization in a defined state is the connection of people in different parts of the world; it results in the broadening of cultures, economic growth and political advancements (Dunn, 1989,1993). It can and does lead to a greater independence and mutual awareness among all the people of our world. This paper will focus on two non-Western cultures that have been impacted by Western globalization. The Globalization in China and India China has been impacted by Western globalization in regards to their economy. China has been transformed from a culture that relied on their own self-sufficient economy and refused the thought of Western globalization to becoming more open and acceptable to trade and foreign investments. Women in India have been impacted by Western globalization...
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... Railways Modernised India Modern era starts with the Industrial Revolution in Europe which influenced the colonised countries as these constituted the periphery of the central imperialist countries. However, the time and period of inception of modernity is controversial. Modernity is a change European society was undergoing and injecting these changes in the colonised oriental world for “their own benefits” and had in a way modernised these part. These impacts can be positive or negative depending on the receptiveness of the society or say modernity is dialectical in itself. The transfer of these changes brings cultural transformation in the recipient society. Irrespective of the characteristics of this society, just in order to exploit resources and being opportunistic sometimes yields bad consequences to these societies. But this is not true in all cases. The concept of modernity has kept adding characteristics to itself with time. In colonial or national context, modernity was the idea of liberation or differences in the society, influencing as well as being influenced by the colonial projects. Latter sounds more pronounced as the introduction of education, postal services, telegraphs, railways etc. has helped in the nationalist movement of India. Modernity has many equivalents, one of these is technology. Technology is the metonym for modernity. The equation fosters a conceptual reduction of technology itself, for technology appears as self-evident testimony to a series...
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...3/17/2016 3/17/2016 ITC LIMITED: INDIA FIRST Case analysis ITC LIMITED: INDIA FIRST Case analysis Kabita khanal Roll no. 14206 MBA 4th term South Asian Institute of Management Kabita khanal Roll no. 14206 MBA 4th term South Asian Institute of Management ITC LIMITED: INDIA FIRST Introduction: ITC Ltd (ITC) was incorporated on August 24, 1910, under the name Imperial Tobacco Company of India Ltd. to make cigarettes and tobacco. It was started as the consolidation of British Americal Tobacco (BAT) which was an umbrella organization. The manufacturing in India started in 1907 but later in 1912, local sourcing and processing of tobacco was started. Followed by manufacturing of tobacco, packaging and printing requirements were met by setting up a packaging and printing facility in 1925. Gradually, ITC has diversified its presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products. The company is rapidly gaining market share even in its nascent businesses of Packaged Foods & Confectionery, Branded Apparel, Personal Care and Stationery. ITC is largest Agri products exporter from India. Latest initiatives taken by company has paid well for its growth, Company diversified into clothes retailing, agri products, Body and Hair care...
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...business risks, but will also compel Indian companies to adopt international norms of transparency and good governance. ITC's governance policy recognizes the challenge of this new business reality in India. ITC was incorporated on August 24, 1910 under the name of 'Imperial Tobacco Company of India Limited'. Its beginnings were humble. A leased office on Radha Bazar Lane, Kolkata, was the centre of the Company's existence. The Company celebrated its 16th birthday on August 24, 1926, by purchasing the plot of land situated at 37, Chowringhee, (now renamed J.L. Nehru Road) Kolkata, for the sum of Rs 310,000. This decision of the Company was historic in more ways than one. It was to mark the beginning of a long and eventful journey into India's future. The Company's headquarter building, 'Virginia House', which came up on that plot of land two years later, would go on to become one of Kolkata's most venerated landmarks. The Company's ownership progressively Indianised, and the name of the Company was changed to I.T.C. Limited in 1974. In recognition of the Company's multi-business portfolio encompassing a wide range of businesses - Cigarettes &...
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