...Relationship between Religion and International Trade Hilal AKINCI, Yeditepe University, İstanbul 2014 The main aim of this paper is to show whether or not religion has impacts on international trade and how it does happen. To do so, researches about the topic will be covered and some worldwide statistics are gathered together. Empirical Studies There are few empirical studies about impacts of religion on international trade or its relationship with international trade. In shared research of Emilia Justyna Powell, University Alabama, and Stephanie J. Rickard, London School of Economics, impacts of Islamic law on international trade is examined. Two models which are monadic and dyadic techniques are used in this study. The main purpose of them to demonstrate whether or not countries governed by Islamic law are effected regarding their international trade although they believe that “the importance of countries’ legal systems for trade has declined over time, possibly due to the increased role of international arbitration bodies and/or the standardization of international sales contracts (Powell & and Rickard, 2010). This research is important as being the first direct test of the effect of Islamic law on countries’ trade relations. The researched draws our attention to the situation that trade can be conceptualized as the aggregate flow of goods and services between countries but in fact that flows are a series of contracts between buyer and seller countries. Enforcement...
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...Assignment 6 There are different factors which effect Morrison’s and Tesco. Even though they are both supermarkets, Morrison’s is a national business and Tesco is International, which means that they have different ways in which there business will work as the different laws and government. Morrison’s political factors that will affect their business activity is the tax rate in the UK, the UK tax rate changes all the time, and as the tax increases it means that the income will decrease, even though when tax increases, Morrison’s could raise the prices of their products that would mean that customers would not want to pay for the products, especially considering if the tax rate increased. The government policies in the UK will have to be considered, and Morrison’s would have to run so that the policies apply to their business, for example they follow the procedures for safe food. As Morrison’s are national, and are only based in the UK it means that there is only 1 government that they have to follow to, so the number of policies will be much less and this means that it will much a lot easier to be able to follow the legal policies. However as the tax increases, the income then decreases, this will affect the business by Morrison’s wouldn’t be able to raise their prices by much because customers will be affected by their own taxes so won’t want to pay more for products they originally thought they could afford, so the number of customers will decrease if taxes increase and the...
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...participants in the targeted market, a company ought to focus on the resources that increase a firm’s value. This includes the firm’s ability to exploit the available business opportunities and mitigate the potential risks. A company can also enhance its competitive advantage by focusing on rare resources in the market. Most of the valuable resources, which are rare in the market, are costly for other companies to imitate. For this reason, corporations ought to organize their valuable resources in order to mitigate the potential business risks while maximizing the available opportunities. In order to present the VRIO analysis as a suitable tool in enhancing a firm’s competitive advantage, this discussion will compare and contrast True Religion Apparel Inc. and SodaStream International. SodaStream International and True Religion Apparel Inc. have valuable resources that have aided the companies in enhancing their competitiveness. To begin with, SodaStream International produces and distributes different valuable products within the beverage industry. Its products include flavors, soda machines, carbonating bottles, and carbon dioxide canisters. These products have a high demand in the soft drink industry, an aspect that has enhanced the firm’s competitive advantage over its competitors. Similarly, True Religion Apparel Inc. presents itself as a successful...
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...interconnectedness among people, globalization has been appeared. Globalization refers the integration of global economies, societies and cultures through the communication, transportation and trade. During this period of this process, one question has been raised whether is globalization bad or good? And according to this question, it is proved that globalization is playing a fundamental role to make progress to many sections including economies, culture and religion, public services and living standard, and technology. In economics, Globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies. It shows the market expansion and integration, and it is an unchangeable tendency for international economic development. In economy, globalization is playing a significant role to make advancement to this sector over the world. Globalization has created widely the international economy, integration of markets and the flow or movement in the world, all of which make escalations in global movement. There are many importance of globalization on economy for many years. Improvement in technology has a essential effect in decreasing the costs of transportation, communication and commodity also lowering the price of data processing and information storage. There is a sign of the modern technology like electric mail, the internet, and...
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...Understanding this need, more businesses are engaging suppliers that are the most cost effective and not necessarily the most ethical. This brings me to the research of purchasing ethics. Specifically how do ethics change the landscape of today’s global market? This paper will look at several factors that include the cross cultural understanding of ethics, the personal and professional responsibility, and several ethical challenges such as environmental responsibility and human rights and the impact it has on the global market. Key Words: business ethics, global market, cultural factors, professional responsibility, ethical challenges I. WHAT IS ETHICS – DEFINITION AND UNDERSTANDING Clearly define what ethics mean in the global market and the domestic market and how it is interpreted in each. II. CULTURAL FACTORS IN GLOBAL MARKETS Identify how cultural factors such as religion, sexual orientation, and accepted standard practices influence or hinder international and domestic business. III. PERSONAL AND PROFESSIONAL RESPONSIBILITY TO BUSINESSES Identify the responsibility and moral obligation when ethical dilemmas occur, your personal code of ethics or that of the executive, or corporation. IV. ETHICAL CHALLENGES TO GLOBAL MARKETS Understand the responses and challenges to the environment, human rights, and the corporations. V. CORPORATE RESPONSIBILITY TO CHANGE AND EDUCATE PARTNERS Establish what corporate responsibility encompasses towards training...
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...Global Business Cultural Analysis: China LaTasha Baker GRST 500/501 Abstract Since the beginning of time when Adam and Eve left the garden, people have been increasing the geographic realm of their economics, political, social and ethnicity contacts. People begin connecting with other nationalities all of the world. This relationship provide wealth and progress along with adverse disputes within the relationship of countries (MacEwan, 2001). There are many reasons why companies covet to develop their business to other countries. There are many difficulties and a wide-range of benefits when a company expands globally outside of their cultural. When a company conduct business outside of their zone; research is required, patients, and a learning process. China and the United States has learned how to work international with business over the past years. The alliance between organizations, partnerships and private sectors has been the reason for the growth between the two countries. While concentrating on the customs, culture, language, anti-corruption and economic implications. You will explore the Chinese culture and its impact on local business structures. The comparison of China and the United States in regards to its cultural analysis will be provided, along with the implications for the United States businesses that wish to conduct business in China. Major Elements and Dimensions of Culture in China China Business Ethics Business ethics is the principal...
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...Differences and Multinational Business The eminent Dutch psychologist, management researcher, and culture expert Geert Hofstede, early in his career, interviewed unsuccessfully for an engineering job with an American company. Later, he wrote of typical cross-cultural misunderstandings that crop up when American managers interview Dutch recruits and vice versa: “American applicants, to Dutch eyes, oversell themselves. Their CVs are worded in superlatives…during the interview they try to behave assertively, promising things they are very unlikely to realize…Dutch applicants in American eyes undersell themselves. They write modest and usually short CVs, counting on the interviewer to find out by asking how good they really are…they are very careful not to be seen as braggarts and not to make promises they are not absolutely sure they can fulfill. American interviewers know how to interpret American CVs and interviews and they tend to discount the information provided. Dutch interviewers, accustomed to Dutch applicants, tend to upgrade the information. To an uninitiated American interviewer an uninitiated Dutch applicant comes across as a sucker. To an uninitiated Dutch interviewer an uninitiated American applicant comes across as a braggart.”1 Cultural differences, while difficult to observe and measure, are obviously very important. Failure to appreciate and account for them can lead to embarrassing blunders, strain relationships, and drag down business performance. And the effects...
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...Guiness. Currently, Diageo is operating in approximately 180 countries in the world. (marketline 2015) This report will aim to explain and analyze the influences of external factors and their importance to the business of Diageo and provide some critical suggestions to the organization to improve its performance. 2.0 Task 1 - A brief overview of the main external factors Diageo plc divides their international market into 5 main different segments base on geography: North America, Western Europe, Africa, Eastern Europe and Turkey, Asia Pacific, Latin America and Caribbean. In financial year (FY) 2014, the company has a significant loss to compare with FY2013: 9.2% in overall revenues, 19.9% in operating profit and 14.5% in net profit (marketline 2015). According to Ivan Menezes, chief executive of Diageo, the flop in revenues was the consequence of challenges from macroeconomics and market. (Eads 2014) The FY2014 annual report shows that there were significant declines of recorded sales in all 5 segments of the business. It is undeniable evidence that external factors create many difficulties for the business. Therefore, this report aims to explain the impact and importance of some main external factors such as economic factor, politics and social factor to the business of Diageo. 2.1 Economic factors The economic environments include monetary policy, exchange rates, inflations, unemployment rate and government spending (Fee 2013). As a multinational company, exchange rate...
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...The notion of non-discrimination and equal opportunity have for decades been a piece of the international community's key principles. Enshrined in several international instruments, including conventions of the United Nations and the International Labor Organization, these ideas are rooted in universal principles of human rights, fundamental freedoms, equality and fairness. In today's rising markets, companies that seek to be leaders and set examples of corporate social responsibility while structuring a productive and diverse workforce must address issues of discrimination in the workplace. Businesses that make it in doing so act decisively to eliminate discriminatory practices and create the conditions for diversity and equality of opportunity and treatment in employment, often going past what is required of them by national law. Background Title VII of the Civil Rights Act of 1964, the Uniform Guidelines on Employee Selection Procedures, the Americans with Disabilities Act, and The Uniformed Services Employment and Reemployment Rights Act are all laws that have an effect on the growth, administration, and use of employment tests and practices. These laws and their repercussions to employment testing and practices are reviewed below. The Fourteenth Amendment of the United States Constitution The Fourteenth Amendment of the U.S. Constitution requires that all states must guarantee equal protection for its citizens. Thus, the laws of any state must be such that all individuals...
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...Differences and Multinational Business The eminent Dutch psychologist, management researcher, and culture expert Geert Hofstede, early in his career, interviewed unsuccessfully for an engineering job with an American company. Later, he wrote of typical cross-cultural misunderstandings that crop up when American managers interview Dutch recruits and vice versa: “American applicants, to Dutch eyes, oversell themselves. Their CVs are worded in superlatives…during the interview they try to behave assertively, promising things they are very unlikely to realize…Dutch applicants in American eyes undersell themselves. They write modest and usually short CVs, counting on the interviewer to find out by asking how good they really are…they are very careful not to be seen as braggarts and not to make promises they are not absolutely sure they can fulfill. American interviewers know how to interpret American CVs and interviews and they tend to discount the information provided. Dutch interviewers, accustomed to Dutch applicants, tend to upgrade the information. To an uninitiated American interviewer an uninitiated Dutch applicant comes across as a sucker. To an uninitiated Dutch interviewer an uninitiated American applicant comes across as a braggart.”1 Cultural differences, while difficult to observe and measure, are obviously very important. Failure to appreciate and account for them can lead to embarrassing blunders, strain relationships, and drag down business performance. And the effects...
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...improve their ability to manage employees, market products, and conduct negotiations in other countries. It also helps managers to attend local needs and desires, improving the company’s competitiveness as globalization continues. 3. Q: How do nation-states and subcultures influence a people’s overall cultural image? ANSWER: When it comes to culture, we tend to invoke the concept of the nation-states that support and promote the concept of national culture by building museums and monuments to preserve the legacies of important events and people, and that also intervene in business to preserve national culture. While the subculture that is a group of people that share a unique way of life within a larger culture (including language, race, lifestyle, attitudes, or other characteristics) tends to be neglected, even that subcultures are very important when considering to expand business abroad. Quick Study 2 1. Q: What is meant by a culture’s aesthetics? Give several examples. ANSWER: A culture’s aesthetics are what it considers “good taste” in the arts, the imagery evoked by certain expressions, and the symbolism of certain colors. Examples of aesthetics: using...
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...communication differences. 1.3 Religion. 1.3.1 Religious background and information. 1.3.2 Religious practices that impact business. 1.4 Social structures and organizations. 1.4.1 Irish social structures and organizations. 1.5 Education. 1.5.1 Irish educational outlook. 1.5.2 Irish business education. 2.0 How are these elements and dimensions integrated by locals conducting business in the nation? 2.1 Impact and integration of communication in local business. 2.2 Impact and integration of religion in local business. 2.3 Impact and integration of social structures and organizations in local business. 2.4 Impact and integration of education in local business. 3.0 How do both of the above items compare with US culture and business? 3.1 Compare and contrast US communication with Irish communication. 3.2 Compare and contrast US religious views with Ireland. 3.3 Compare and contrast US and Irish social structures and organizations. 3.4 Compare and contrast education in the US and Ireland. . 4.0 What are the implications for US businesses that wish to conduct business in the region? 4.1 Foreign investment decisions. 4.1.1 Type of investment. 4.1.2 Future of investment opportunities. 4.1.3 Mergers and acquisitions suitability. 4.2 Analysis of business differences from Ireland to the US. 4.2.1 Strengths of Irish business practices. 4.2.2 Weaknesses of Irish business practices. 4.2.3 Opportunities for Irish business system development and expansion...
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...International Business Cultural Assignment Shawna Johnson January 25, 2013 When talking about culture and how it can affect business practices brings up many topics. Culture is a system of values and norms that are shared amount a group of people and that when taken together constitute a design for living. (“Components of culture”, 2011, p.2) Values and norms have a huge impact on culture within the work place. Values are abstract ideas about what a society believes to be right or wrong, good or bad. Norms also shape culture; they are the social rules and guidelines that lay down the proper behavior in certain situations. There are several components that define culture; religion, political and economic philosophies, education, language, and social structure. Different countries have different religions views and values. Different religious have different views of work and material goods. Cultural views influence the competitiveness of companies, the way cultures change due to religious and the need to adapt to those changes. For example Mc Donald’s change the main ingredient in their product to lamb instead of beef because of the religious views of Hinduism. (“Components of culture”, 2011, p. 11) The way businesses adapt to different religion in different countries in a major component of how they prosper among many different cultures. The way different countries are taught education has a great impact on cultures and the way companies conduct business deals....
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...Ethical Challenges in Latin American Cultures A Study of the Impacts of Culture in the Business Environment Warrington Thomas Edison State College International Management 372 Professor: Baker 06/16/2013 Elements Influencing Social Culture Culture is defined as a system of values and norms shared among a group of people and when taken together represent a system of living. Culture is not static but always evolving and it is important to take various factors into consideration when attempting to conduct business in international countries. Valuing cultural diversity in the workplace can boost morale and productivity. An effective employee who feels discriminated against because of cultural differences might get disconnected and leave the company. Values are the things that people believe to be right, good and desirable. Values are often reflected in the political and economic system of a country and includes society’s attitude towards things such as individual freedom, democracy, truth, honesty and loyalty among many other things. Ethics include the standards of moral behavior that are acceptable by a society as right or wrong. It includes basic moral values such as integrity, respect for human life, self-control, honesty, courage, cheating, cruelty and the list continues. Latin Americans are very proud of their culture individuals attempting to do business in this part of the world should be aware of the social conventions. ...
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...Culture Essay Culture is pervasive in all marketing activities”, (Albaum et al, 2005) Hall distinguishes culture according to the degree of context in their communication systems (De Mooij, 2010). High context cultures (Japanese, Chinese) contrast greatly with low context cultures (USA), who require a more explicit conveyance of messages. As Hall (1984) says, “Many Americans don’t seem able to evaluate anything unless they can attach a number to it”. Introduction One of the early scholars of culture, Linton (1945), defines it as: ‘‘The configuration of learned behavior and results of learned behavior whose component elements are shared and transmitted by the members of a particular society.’’ Other early scholars like Kluckhorn (1954) conceptualized that the cultural influences transcend in terms of the beliefs, norms, traditions, and values of society and this view still prevails among the scholars of culture. Why is culture important? Global Marketing in the simplest description attempts to understand customers in terms of what they buy, when they buy, why they buy, how much they buy, where they buy it, and with what they buy. Internationally, this means understanding culture. How marketing efforts interact with culture determines the success or failure of a product. "There are many examples of cultural differences that have affected marketing success or failure." (Buzzell) The relationship with culture comes into play with the realization that each of the consumer...
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