...system of Milkiland Intermarket as a base of research PROJECT THESIS Faculty of Business Field of Study: International Business Cooperative State University Baden-Wuerttemberg Mannheim Handed in by: Vladyslava Zhurenkova Address: Plumstruk 3, 23617 Obernwohlde Course: WIB-bi 13BI Student ID-Number: 8658655 Academic Tutor: Prof. Dr. Thomas Schuster Supervising Tutor at Milkiland Volodymyr Gontar Intermarket: Corresponding Company: Milkiland Intermarket Kyiv, Ukraine, 10th September 2014 II CONFIDENTIALITY STATEMENT The Project thesis on hand “Development of an accounting information system for international market entries Taking the Accounting information system of the Milkiland Intermarket as a base of research” Contains internal resp. confidential data of Milkiland Intermarket. It is strictly forbidden, To distribute the content of this paper (including data, figures, tables, charts etc.) as a whole or in extracts, To make copies or transcripts of this paper or of parts of it, To display this paper or make it available in digital, electronic virtual form. Exceptional cases may be considered through permission granted in written form by the author and the Milkiland Intermarket. Kyiv, Ukraine, 10th September 2014 ___________________ Signature III ABSTRACT This paper is focused on the directions of changes and improvements needed in the Accounting Information System of Milkiland Intermarket, both at the present...
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...miscommunication should be taken into account for foreign companies, human resources are required to change patterns and global business strategy is also possibly tackled in the international market. Cultural misunderstandings arising from miscommunication will frequently lead to the failure of commercial negotiations. Although there are an accelerative number of Chinese people highly proficient in English, it is uncommon to find someone who understands the subtleties of the language to navigate delicate business negotiations. For example, Heads of ETIG used to make a trip to China, but had several productive meetings and returned home with strong business prospects. According to Murphy, a former technical analyst for CNBC in an article titled “Intermarket Analysis”, communication between the foreign and Chinese companies goes smoothly at first, yet things start to break down as business issues get more complex (Murphy, 2004). It appears that what started as a promising prospect for both sides often breaks down due to miscommunication. In addition, western companies in China rate human resources as the massive challenge of doing business here. Chinese workers are accustomed to a more hierarchical structure in which each person has a clearly defined role. One of the best examples of this is Royal Dutch Shell, which is quite concerned about its human resources management and attributes its success to adjusting and accommodating organization structures in China. According to Shell website...
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...By reducing the time and cost for long distance communication, the invention of the Morse Code and Telegraph made an easier way for the appearance of large and efficient markets. The invention also provided an important method by which large firms could efficiently coordinate a variety of activities previously coordinated by markets. Before the invention of the Morse Code and Telegraph, communication was only to be through people. Although this method took lots of time, due to the travel distances, it was not very effective. The allotted time it took one to deliver a message prohibited the free exchange of information that the markets nationwide needed. After the invention, it took no time for one’s messages to get across, even if it was with...
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...gives providers some power over the buyers. It would not be easy for providers to forward integrate into the buyers business, so the forces of integration in this context produces no industry power shifts. However, unlike other smartphone makers that rely on telecom network operators to provide service, RIM operates its own data network, including three network operations centres for its wireless email system: two in Waterloo, Ontario (one for North America, one for Asia-Pacific) and one in the UK for Europe, the Middle East and Africa. All BlackBerry data traffic passes through one of these centres. This strategic advantage of RIM reduces the power buyers have over them. (REF 12) The Threat of Substitutes (ALL) Substitutes to the smart phone are products like: notebooks (with smaller screens), PDAs, tablet PCs. RIM produce a tablet called the PlayBook. In general, substitute products exert a low force on the industry. Businesses and individuals enjoy the convenience and portable nature of the smart phone. Substitute products do not share this advantage. Traditional forms of communication such as landlines, regular mail, and newpapers are substitutes for RIMS products. Substitution is a significant threat to smartphone manufacturers since the market is characterized by constant product introductions, quickly evolving technology and designs, short product life cycles, aggressive pricing, rapid imitation of product and technological advancements, a high price sensitivity...
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...Introduction Sony Corporation was founded by Masaru Ibuka and Akio Morita in 1946. It is a multinational company with headquarter based in Japan. Initially the company was named as Tokyo Tsushin Kogyo. Later on in 1958 the company name was changed to Sony. Sony Corporation started its business from electronics and first prepared a tape record named as Type-G. It is a leading manufacturer of electronic products. Today the Sony Group comprises three main businesses: electronics, entertainment and financial services. Entertainment and financial services have stable business foundations and both are poised for future growth. Sony is famous for its unique and innovative products and services that inspire the curiosity of people all around the world. Sony is a powerful and successful brand. It will always remain successful if the company monitors the change taking place in a competitive environment. If the company will follow this policy then the competitors will have no effect on the company. Products Sony Corporation is offering basically three types of products; 1. Electronics 2. Entertainment 3. Financial services 1. Electronics The electronic business of the Sony Corporation consists of the following products; * Digital Imaging * Personal computers * Smart Phones * Tablet * Television 2. Entertainment The entertainment products of the company are; * Music * Games 3. Financial Services The financial service business...
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...Le marché de la grande distribution en Ukraine | | L’Ukraine, marché de 47 millions de consommateurs a vu son économie se développer très rapidement depuis 2000. Conscients du potentiel de développement de l’Ukraine, deuxième marché des pays de la CEI après la Russie, les acteurs de la grande distribution ont saisi l’intérêt de pénétrer le marché ukrainien afin de profiter de l’accroissement du pouvoir d’achat dès cette période. Le marché ukrainien de la grande distribution se trouve aujourd’hui au 4e rang mondial en termes d’attrait pour les investisseurs. Ainsi, le marché ukrainien de la grande distribution croît de 20 à 25% chaque année et représente aujourd’hui (fin 2006) près de 22 Mds $ de chiffre d’affaires (contre 18 Mds $ en 2005). Restant encore devancées par les marchés traditionnels (40%), les chaînes représentent actuellement 30% du marché de la distribution en Ukraine (mais 50% à Kiev) pour atteindre les 50 à 70% d’ici 2010-2011. Kiev et les régions : La ville de Kiev fut la première à profiter de l’intérêt des investisseurs de par son statut de capitale, sa taille et son avance économique, mais aujourd’hui certains centres régionaux sont également l’objet de convoitises. En effet, les villes de Donetsk, Dniepropetrovsk, Kharkov (est du pays), Lvov (ouest de l’Ukraine) ou Odessa (sud de l’Ukraine) se développent remarquablement. En outre, dans la capitale ukrainienne les terrains se raréfient et les locaux existants, en mauvais état ou mal situés...
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...in the CFA Program, and revocation of the right to use the CFA designation. The Code of eThiCs Members of CFA Institute (including CFA charterholders) and candidates for the CFA designation (“Members and Candidates”) must: • Act with integrity, competence, diligence, respect, and in an • Practice and encourage others to practice in a professional and ethical manner with the public, clients, prospective clients, emethical manner that will reflect credit on themselves and the ployers, employees, colleagues in the investment profession, profession. and other participants in the global capital markets. • Promote the integrity of and uphold the rules governing capital • Place the integrity of the investment profession and the intermarkets. ests of clients above...
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...Hedge Funds 1. Hedge Funds Versus Mutual Funds Mutual funds are regulated under the SEC Act 1933 and the Investment Company Act of 1940 and they must invest according to the stated goals in the prospectus. They are adjured to avoid ‘style drift.’ Hedge funds are not open to the general public. The primary investors are institutional investors but they are open to high net worth individuals. Most require minimum investments of $250,000, some go up to $1,000,000. A few now have a minimum investment of $25,000, but we will have to wait and see what kind of shakeout occurs after the financial crisis. The following table provides a summary of the differences between hedge funds and mutual funds. Characteristic | Mutual Funds | Hedge Funds | Transparency | Public info on portfolio composition | Info provided only to investors | Investors | Unlimited | < 100, high dollar minimums | Strategies | Must adhere to prospectus, limited short selling & leverage, limited derivatives usage | No limitations | Liquidity | Redeem shares on demand | Multiple year lock up periods typical | Fees | Fixed percentage of assets; typically 0.5% to 2% | Fixed percentage of assets; typically 1% to 2% plus incentive fee = 20% of gains above threshold return | Notes to the table: Some mutual funds can engage in short selling, but not to the extent that hedge funds can. The lock up period employed by some hedge funds allows the funds to invest in less liquid assets...
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...MKT 3050 Exam 1 Things to Know Chapter 1 Marketing Definitions: making a sale, managing profitable customer relationships, satisfaction of customers’ needs. Social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Goals: Attract new customers by promising superior value & Keep and grow current customers by delivering satisfaction Needs: states of felt deprivation Want: form human needs take as they are shaped by culture and individual personality. Demands: Human wants that are backed up by buying power. Customer Satisfaction Expectations: Customers form expectations about the value and satisfaction that various offerings deliver: If marketers set expectations too low, they may satisfy current buyers but fail to attract enough. If expectations too high, buyers disappointed. Promise only what you deliver, but try to deliver more than you can promise. Steps in the Marketing Process: Understand the marketplace and customer needs and wants, design a customer driven marketing strategy, construct an integrated marketing program that delivers superior value, build profitable relationships and create customer delight, capture value from customer to create profits and customer equity Marketing Myopia: The mistake of paying more...
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...Summary of Key Points for Chapter 7 This chapter looks further into key customer-driven marketing strategy decisions—how to divide up markets into meaningful customer groups (segmentation), choose which customer groups to serve (targeting), create market offerings that best serve targeted customers (differentiation), and positioning the offerings in the minds of consumers (positioning). Chapter Objectives: 1. Define the four major steps in designing a customer-driven marketing strategy: market segmentation, market targeting, differentiation, and positioning 2. List and discuss the major bases for segmenting consumer and business markets 3. Explain how companies identify attractive market segments and choose a market targeting strategy 4. Discuss how companies differentiate and position their products for maximum competitive advantage in the marketplace. Most companies have moved away from mass marketing and toward target marketing—identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each. Figure 7.1 (pg.216) shows the four major steps in designing a customer-driven marketing strategy. Market segmentation involves dividing a market into smaller groups of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. Market targeting (or targeting) consists of evaluating each market segment’s attractiveness and selecting one or more...
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...| |UNIVERSITI TUNKU ABDUL RAHMAN (UTAR) | | |FACULTY OF ACCOUNTANCY AND MANAGEMENT | | | | | |Bachelor of International Business (Hons) | | | | | |Unit Code & |UKFF4024 | | |Unit Title: |MULTINATIONAL FINANCE | | |Course of Study: |Bachelor of International Business (Hons) | | |Year of Study: |Year Three, Trimester Two | | |Trimester Year |Jan 2016 | | |Credit Hour: |4 credit hours ...
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...wow 1. Define consumer behavior. Consumer behavior – activities people undertake when obtaining, consuming, and disposing of products and services. 2. Why is consumption a key to understanding why consumers buy products Consuming means how, where, when, and under what circumstances consumers use products. For example, issues relating to consumption might include decisions about whether consumers use products at home or at the office. Researchers have focused on consumption analysis, which refers why and how people use products in addition to why and how they buy. Consumption analysis is a broader conceptual framework than buyer behavior because it includes issues that arise after the purchase process occurs – issues that often affect how people buy and the satisfaction they receive from their purchases. 3. What types of questions are answered by studying consumer behavior? 1. Why did you choose the school at which you are now studying? 2. Why did you buy your clothes from Abercrombie and Fitch, Old Navy, Benetton or any thousands of other retail stores? 3. How do you allocate the twenty-four hours of each day between studying, working, watching television, sleeping, working out in a gym, and watching or participating in a sport? 4. Do you usually cook your food from scratch, microwave it, or buy it already cooked in a restaurant to eat there or take home? Why do you eat certain types...
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...I. Chapter 1 + 2: 1. a. Meaning of LIBOR and what is its significance in the Eurocurrency markets? The benchmark interest rate paid on deposits among banks in the Eurocurrency market is called LIBOR (London interbank offer rate). It’s the world most widely used benchmark for short term interest rates. LIBOR is determined by the supply and demand for funds in the Euromarket for each currency, because participating banks could default on their obligations and the rate paid for Eurodollar deposits in addition to the spread over LIBOR for borrowers. It also help to reduce the cost of using the Euromarket for borrowers. Eurocurrencies are domestic currencies of one country on deposit in a second country. Any convertible (exchangeable) currency can exist in “euro-“ form. Eurocurrency markets serve two valuable purposes: These deposits are an efficient and convenient money market device for holding excess corporate liquidity; This market is a major source of short-term bank loans to finance corporate working capital needs. * The modern Eurocurrency market was born shortly after WW II. Eastern European holders of dollars, including state trading banks in the Soviet Union, were afraid deposit their dollar holdings in the US because they felt claims could be made against these deposits by US residents. These currency holders then decided to deposit their dollars in western Europe. While economic efficiencies helped spurn the growth of this market, institutional events were...
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...Industrial Marketing Management 33 (2004) 607 – 617 Complementary approaches to preliminary foreign market opportunity assessment: Country clustering and country ranking S. Tamer Cavusgil*, Tunga Kiyak, Sengun Yeniyurt Department of Marketing and Supply Chain Management, The Eli Broad Graduate School of Management, Michigan State University, 370 North Business College, East Lansing, MI 48824, USA Received 2 November 1998; received in revised form 16 May 2003; accepted 23 October2003 Available online 24 December 2003 Abstract Companies seeking to expand abroad are faced with the complex task of screening and evaluating foreign markets. How can managers define, characterize, and express foreign market opportunity? What makes a good market, an attractive industry environment? National markets differ in terms of market attractiveness, due to variations in the economic and commercial environment, growth rates, political stability, consumption capacity, receptiveness to foreign products, and other factors. This research proposes and illustrates the use of two complementary approaches to preliminary foreign market assessment and selection: country clustering and country ranking. These two methods, in combination, can be extremely useful to managerial decision makers in the early stages of foreign market selection. D 2004 Published by Elsevier Inc. Keywords: Country ranking; Clustering; Foreign market selection; Country market assessment 1. Introduction Marketing across national...
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...Chapter 11 Managing Bond Portfolios 1. Duration can be thought of as a weighted average of the ‘maturities’ of the cash flows paid to holders of the perpetuity, where the weight for each cash flow is equal to the present value of that cash flow divided by the total present value of all cash flows. For cash flows in the distant future, present value approaches zero (i.e., the weight becomes very small) so that these distant cash flows have little impact, and eventually, virtually no impact on the weighted average. 2. A low coupon, long maturity bond will have the highest duration and will, therefore, produce the largest price change when interest rates change. 3. An intermarket spread swap should work. The trade would be to long the corporate bonds and short the treasuries. A relative gain will be realized when the rate spreads return to normal. 4. Change in Price = – (Modified Duration Change in YTM) Price = -Macaulay's Duration1+ YTM Change in YTM Price Given the current bond price is $1,050, yield to maturity is 6%, and the increase in YTM and new price, we can calculate D: $1,025 – $1,050 = – Macaulay's Duration1+ 0.06 0.0025 $1,050 D = 10.0952 5. d. None of the above. 6. The increase will be larger than the decrease in price. 7. While it is true that short-term rates are more volatile than long-term rates, the longer duration of the longer-term bonds makes their rates of return more volatile. The higher duration...
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