...Alex Vanarthos 11/26/2014 America's Most Successful Family Businesses Family businesses make up an incredible 34% of the S&P 500 Index, meaning over 170 of our nation's 500 largest companies are family owned (Caspar, Christian). To some, this figure is extremely surprising, as it shatters the commonly held misconception that family firms are simply "mom and pop shops." Although it is clear that family businesses are capable of incredible widespread success, exactly why this is the case is far less obvious. One way to gain some valuable insight into how and why so many effective family businesses exist is to closely examine the three in our nation that have had the most success: Cargill, Ford Motors, and Wal-Mart. In many ways, these businesses could not be more different; for instance, they operate in separate industries, and the levels and types of family involvement in the firms vary. Extensive analysis of these three corporations did, however, reveal that while no family, business, or family business is perfect, each company's achievements are directly attributable to its commitment to the common vision and identity instilled in the firm by the family. Cargill Cargill is a private corporation that works with "farmers, customers, governments and communities" to provide "food, agriculture, financial and industrial products and services to the world ("Cargill:...
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...INTERNATIONAL DOCTORAL STUDY ADMISSION APPLICATION PROCESS Application submitted via eVision Internationa Office send to department for approval Returned to International Office and processed Returned incomplete, sent back to department Emailed to GRS for approval at the weekly GRC meeting Candidate awaits outcome of Scholarship application Doctoral office emails result to the International Office who then update eVision Candidate accepts offer in eVision International Office emails confirmation of start date to GRS Awarded Declined Candidate Declines offer of place via eVision Doctoral Office processes enrolment Candidate completes declaration in eVision FINISHED! Updated 19 December 2014 INTERNATIONAL DOCTORAL STUDY ADMISSION APPLICATION PROCESS DEFINITION: International candidate = First year, never studied at the University of Otago before. Candidate makes application (Candidate has already received unofficial approval from the primary supervisor and their department before beginning the process) Candidate contacts the International Office and applies via eVision and the application goes to the International Office portal. Application is sent to the department for approval/signing by the following people; Primary supervisor, HOD primary department (if applicable), Dean (if applicable), PVC delegate for the Division If there are co-supervisors in any other departments it then goes to the following people within...
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...P3 Describe how the environment and culture of another country affects a business operating internationally I am going to discuss how the environment and culture of India and China affect businesses operating internationally. I am going to use Tesco as an example. Environment: Both India and China have been named as countries with the highest expected growth in the next 50 years. India population – 1.1 billion, 1.3 billion. India is democratic, China is communist. (Businesses in India have freedom of speech and the way they operate their business while business operations in China are very limited by the Government) China is strong in manufacturing while India is strong in services and Information Technology. Strengths of China = Weaknesses of India Infrastructure in India: India’s road network is a barrier to business operations and has been holding industry back which is a challenge that Tesco would come across with if deciding to expand in India as it would make imports into India much more difficult, time and cost consuming. However Indian government has made it a priority to improve the country’s infrastructure and has pledged to build 14km of new roads in the nearer future. Infrastructure in China: China’s infrastructure is top class – one of the best in the world. China spends almost 50% of its GDP on investment towards their infrastructure which include; roads, bridges, trains, ports, technology etc. China has currently approved an estimated $156 billion dollar investment...
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...title |Unit 39: International Business | |Learner Name | | |Assessor Name | | |Date issued |31/10/13 | Assessment criteria to be assessed in this assignment |Criteria Reference|To achieve the criteria the evidence must show that the learner is able to: |Task No. |Page No. | |P1 |Explain the international business environment in which a selected organisation operates |1.1 | | |P2 |Describe the mechanisms that regulate international trade |1.2 | | |P3 |Describe how the environment and culture of another country affects |1.5 | | | |a business operating internationally | | | |P4 |Describe how the monetary environment affects businesses that operate internationally...
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...Abstract This research looks into the reasons that lead us to believe that international trade positively and negatively affects our economy. It gives examples of how global businesses use international trade to help them provide better services. It also provides the reader with an understanding of how international trade can increase capita per household. The paper also defines the argument that people not in favor of international trade frequently have. INTERNATIONAL TRADE’S POSITIVE AND NEGATIVE EFFECTS ON THE UNITED STATES ECONOMY Many have questioned over the years if international trade was truly helping the United States domestic economy or destroying it. Trade certainly has its way of bringing countries together and in the process it also provides an easier mean for companies to get the supplies that they need. However, it also tends to outsource jobs to other countries which take away from our country’s economy in a way. I am going to discuss the positive effects of international trade that help develop our country, and the negative effects of trade that give our country a disadvantage, the arguments between both sides, and then I am going to decide in my opinion whether international trade is advantageous for our economy or disadvantageous. Before discussing the effects on International trade is important to visit the background of why countries need to trade in the first place. Domestically countries cannot produce every item that they may need all by themselves...
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...between different countries and economies and the increased impact of international influences on all aspects of life and economic activity * No longer are economies dominated by local influences but rather through global influences from another countries and economies due to the impact of globalisation. * The aggregate value of all goods and services produced worldwide each year in the global economy is known as gross world economy * The Great depression in the 1930’s and the world wars are examples of international influences on economies in the twentieth century. This also caused trade barriers to arise * The major indicators of integration between economies include: * International trade in goods and services * International trade flows * International investment flows and transnational corporations * Technology, transport and communication * The movement of workers between countries Globalisation * Barriers have been put up to try and protect businesses * Benefits to removing barriers * Barriers have been removed but there are still some barriers that exist * Some say the EU is closing off itself to other countries * Benefits to globalisation: * Trading – we might not have products that are only overseas * Cheaper labour is overseas * Investment overseas and investment into Australia * Financial flows of banks * Technology * Businesses can become more productive * Disadvantages: * Other economies...
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...for individuals, small businesses, and large businesses? List these services. The UPS website provides information and services regarding billing, shipping, tracking, and business solution for large and small businesses, and individuals. Services for Individuals are: • My UPS and UPS account – This service has features such as billing information, account summary, address book, etc; and can be maintained online by the customer. • Shipping – The customer can create and start a shipment online, calculate the time and cost for the shipment, schedule pick-ups, and create returns and imports. • Tracking – This feature allows the customer to track packages and freights with services like Quantum view, UPS my choice, Flex global view and Void a shipment. • Freight – Services for freight are Critical Freight, Air Freight, Ocean Freight, LTL (Less then truckload) and Trucking (Full truckload), and UPS Cross border connect. • The website lets customers order supplies online. • UPS Communication via E-mail – The website has features like New product announcements/enhancements, promotions and offers, newsletters, and service updates/ regulatory changes. • Customer service – Customers will be able to contact to the UPS staff via Live chat, phone call, and other online support. They can also connect with UPS on Facebook and Twitter. • Locations – Customers can find various UPS locations on the website. Services for Small and Large Businesses are: • My UPS and UPS...
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...1.Non-state actors especially businesses are more vocal in the design of policies that impact on the global economics. Businesses have the power to influence policies adopted that relate to engaging in trading around the globe ( Fusch, p2). The discursive power enables businesses to exert influence both in the public and in private sectors. Businesses can tailor their discursive powers to achieve diverse objectives relating to policy formulation (Fusch, p26) There are enormous changes in the global intellectual property regime that give the businesses a leeway to actively engage in international economics negotiations. The liberalization of knowledge through relaxed protection of the intellectual property works to the advantage of the businesses (Morin p3). The economic and political changes taking place around the world occasioned changes in the political roles. There is an evident decline in the roles of states in the international policing. The business enterprises are increasing taking over from governments in participating in the international economic policing (Fusch, p5). 2. A classic instance of collaboration among businesses was the formation of Basel II. Several bankers from different countries came together to influence the policies formulated around that time. The bankers came from the states that formed G10 at the time (Young, 2012, p665) The rise of academic communities successfully managed to advocate for the scrapping of the monopoly initially exhibited...
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...THE IMPACT OF GLOBALIZATION ON INTERNATIONAL BUSINESS GROUP NO-01 FMG3231 INTERNATIONAL BUSINESS ECONOMICS FACULTY OF MANAGEMENT CONTENTS PAGE NO An introduction to international business 3 What is globalization? 6 The impact of globalization on international business 6 Future of international business and globalization 12 Summary 12 Reference 13 1. AN INTRODUCTION TO INTERNATIONAL BUSINESS International business involves all commercial transactions—private and governmental—between parties of two or more countries. Global events and competition affect almost all firms—large or small. However, the international environment is more complex and diverse than a firm’s domestic environment. An international business has many options for doing business, it includes, * Exporting goods and services. * Giving license to produce goods in the host country. * Starting a joint venture with a company. * Opening a branch for producing & distributing goods in the host country. * Providing managerial services to companies in the host country. Features of International Business Large scale operations: In international business, all the operations are conducted on a very huge scale. Production and marketing activities are conducted on a large scale. It first sells its goods in the local market. Then the surplus goods are exported. Integration of economies: International business integrates (combines)...
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...Chapter 1: International Interdependence 1.4 ADVANTAGES & DISADVANTAGES OF INTERNATIONAL TRADE Pg 22-27 Advantages of International Trade The fundamental reason for international trade is to sell something that we don’t need and to buy something we do need. Trade creates jobs, attracts investments, attracts new technology and materials, and offers Canadians a wider choice in products and services. People spend, save, or pay taxes with the money they earn in their jobs. The government uses taxes to provide services, which creates more jobs. When people save, the capital markets lend money to others, who will spend it on consumer goods, or open or expand a business, therefore creating new jobs. When people spend money, it creates demand, which creates new jobs. If something occurs to slow this expansion, the cycle reverses. Ex. higher taxes, higher interest rates. Meeting our needs Trade is always balanced if it is fair. If 2 people trade baseball cards and one gives another 6 cards, they should get 6 back. Many businesses can create a surplus inventory of goods and services. Canadian farms produce more food than Canadians can eat, Canadian manufacturers make more products than Canadians use, and Canadian service providers can provide service to other countries. Canadians cannot produce fruits like bananas and oranges, and some products we cannot make. These products are imported. Both trading partners get something they need by trading something they don’t need. Job...
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...Chapter 1: International Interdependence 1.4 ADVANTAGES & DISADVANTAGES OF INTERNATIONAL TRADE Pg 22-27 Advantages of International Trade The fundamental reason for international trade is to sell something that we don’t need and to buy something we do need. Trade creates jobs, attracts investments, attracts new technology and materials, and offers Canadians a wider choice in products and services. People spend, save, or pay taxes with the money they earn in their jobs. The government uses taxes to provide services, which creates more jobs. When people save, the capital markets lend money to others, who will spend it on consumer goods, or open or expand a business, therefore creating new jobs. When people spend money, it creates demand, which creates new jobs. If something occurs to slow this expansion, the cycle reverses. Ex. higher taxes, higher interest rates. Meeting our needs Trade is always balanced if it is fair. If 2 people trade baseball cards and one gives another 6 cards, they should get 6 back. Many businesses can create a surplus inventory of goods and services. Canadian farms produce more food than Canadians can eat, Canadian manufacturers make more products than Canadians use, and Canadian service providers can provide service to other countries. Canadians cannot produce fruits like bananas and oranges, and some products we cannot make. These products are imported. Both trading partners get something they need by trading something they...
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...Benefits of Globalization Globalization is considered beneficial to the free trade movement among global markets. Globalization creates the opportunity for domestic businesses to compete internationally. It has the ability to tap into a massive potential customer base and still maintain low cost of goods and services. Globalization creates a demand for companies to be driven and motivated. This leads to the development of new products. By keeping companies competitively challenged, the drive among businesses around the world becomes more customer-orientated when developing new innovative products. Through globalization, businesses around the world are given the opportunity to positively impact their societies. One of the first benefits of globalization that should be considered is its massive potential customer base. According to the World Trade Organization, as of July 23, 2008 there are 153 countries participating in their global organization. The World Trade Organization is the only global organization dealing with the rules of trading between nations. Its goal is to aid producers of goods and services, exporters, and importers in conducting business within the global market. Also, text from scholastic book Understanding Business 9th Edition (page 62) states there are over 6.7 billion potential customers in the global market. At these numbers it would be nearly impossible for a business to enter into the global market and not find a customer base supportive...
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...International Trade and Finance The United States imports many goods and services, as well as exports goods and services in the global economy. International trade affects the United States’ Gross Domestic Product (GDP) and domestic markets. The government can affect international trade by imposing tariffs and quotas on imports. Foreign exchange rates affect how much is brought and sold abroad. International trade is beneficial to the United States, but can sometimes be seen as unfair competition to the American workforce and businesses. Trade Surpluses and Deficits A country has a trade surplus when exports exceed imports. This situation will initially create wealth for the country, but in the long-run the country’s currency appreciates causing the cost of its goods to other countries (exports) to become more expensive; which evens out the trade imbalance. After World War II the United States was in this situation, becoming an international lender to foreign countries (Colander, p. 449). This created wealth for the U.S. because of the flow of interest payments, instead of having to pay income on its own debt. A trade deficit is when a country imports more than it exports. The United States is currently experiencing this type of trade imbalance. The U.S. is consuming more than it is producing, and they are financing this consumption by selling off assets such as stocks, bonds, real estate, and corporations (Colander, p. 448, 449). Effects of Excess Imports When the...
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...Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914. Map of the Silk Road But policy and technological developments of the past few decades have spurred increases in cross-border trade, investment, and migration so large that many observers believe the world has entered a qualitatively new phase in its economic development. Since 1950, for example, the volume of world trade has increased by 20 times, and from just 1997 to 1999 flows of foreign investment nearly doubled, from $468 billion to $827 billion. Distinguishing this current wave of globalization from earlier ones, author Thomas Friedman has said that today globalization is “farther, faster, cheaper, and deeper.” But policy and technological developments of the past few decades have spurred increases in cross-border trade, investment, and migration so large that many observers believe the world has entered a qualitatively new phase in its economic development. Since 1950, for example, the volume of world trade has increased by 20 times, and from...
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...38 3 The global context of business Chris Britton Businesses of all sizes operate in international markets – products are sold across borders; the resources used in production can come from anywhere in the world; communication is instantaneous; and financial markets are inextricably linked, as the events of 2008 demonstrate. Individual businesses operate across borders in a variety of ways – they can do this directly, through the formation of strategic alliances or through merger and takeover. It is clear then that businesses need to be aware of the global context of their markets. Having read this chapter you should be able to: G G G G Learning outcomes understand the difference between globalisation and internationalisation outline the main elements of globalisation illustrate the role of the multinational enterprise introduce the implications of globalisation for business Key terms Capital market flows Consortium Cross-subsidisation Customs union Emerging economies Foreign direct investment (FDI) Franchising Free trade area Globalisation Hyperglobalisation Internationalisation International trade Joint venture Licensing Multinational enterprise (MNE) Regionalism Regional trade agreements (RTAs) Strategic alliance Transfer pricing Transformationalism Globalisation versus internationalisation 39 Introduction Businesses operate in a global context: even if they do not trade directly with other countries, they might be affected by a domestic...
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