...The Effects of Media Globalization By Mary Hickman Media globalization cannot be stopped. It is a result of new communications technology. It is also the prerequisite and facilitator for all other forms of globalization. Multi-national media is critical to global industries. Many Americans feel that we ought to enjoy the benefits of media globalization, such as global communication, rather than fearing and attempting to avoid the consequences—which ironically include hindrance of free speech. Communicating internationally has never been easier. Thanks to new media platforms, we can have a video conversation with a loved one who is 10,000 miles away or keep up-to-date on the stock market with our cell phones. The internet can also improve our health or save our lives. Your doctor may send an X-ray or MRI to another doctor in India or China for a second opinion and have it within hours. “…An Israeli company is making big advances in compression technology to allow for easier, better transfers of CAT scans via the Internet so you can quickly get a second opinion from a doctor half a world away” (Friedman, 2005). Thomas L. Friedman, quoting Craig J. Mundie, a chief technical officer for Microsoft: “‘The Windows-powered PC enabled millions of individuals, for the first time ever, to become authors of their own content in digital form, which meant that content could be shared far and wide’”. Friedman’s book underlines his belief that media has the power...
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...give a clear understanding of what Corporate Responsibility by firms to its stakeholders is. Later, I will make an argument in favor and against Corporate Responsibility by the firm to its stakeholders. Lastly, I will come to a conclusion on how firm’s value is maximized. That is what corporation should do for its stakeholder. According to rigorous research, each person has his or her personal responsibility that needs to be performed in order to maintain a good image in the society. Just as humans are faced with responsibilities, so as Corporations, since they are seen as a group of individuals working together to accomplish a goal, that goal being making themselves and shareholders as much money as possible is the shortest amount of time possible. Theses group of individuals according to Freeman are called Stakeholders, who are groups or individual that affects, or is affected by the achievement of a company’s aims (Freeman, 1984). Corporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational...
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... A Flat World, a Level Playing Field, a Small World After All, or None of the Above? A Review of Thomas L. Friedman’s The World is Flat EDWARD E. LEAMER∗ Geography, flat or not, creates special relationships between buyers and sellers who reside in the same neighborhoods, but Friedman turns this metaphor inside-out by using The World is Flat to warn us of the perils of a relationship-free world in which every economic transaction is contested globally. In his “flat” world, your wages are set in Shanghai. In fact, most of the footloose relationship-free jobs in apparel and footwear and consumer electronics departed the United States several decades ago, and few U.S. workers today feel the force of Chinese and Indian competition, notwithstanding the alarming anecdotes about the outsourcing of intellectual services. Of course, standardization, mechanization, and computerization all work to increase the number of footloose tasks, but innovation and education work in the opposite direction, creating relationship-based activities—like the writing of this review. It may only be personal conceit, but I imagine there is a reason why the Journal of Economic Literature asked me to do this review. 1. Prologue hen the Journal of Economic Literature asked me to write a review of The World is Flat: A Brief History of the Twenty-First Century (Farrar, Straus, and Giroux 2005) by Thomas Friedman, I responded with enthusiasm, knowing it wouldn’t take much effort on my part. As ∗ Leamer: Anderson...
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...Introduction Thomas L. Friedman is a columnist for New York Times and a winner of Pulitzer Prize three times for his writing. He is well known for a cynical and eccentric writing about politics, globalization and environment. In this article, Mr. Friedman interviewed the creator of HireArt.com, the online job seeker portal and discuss about having additional skills in pursuit of employability in this modern era labour market. The article is intend to inform the prospective employee to gained an additional skills to the job they applying to make them more marketable in this current recession. 2.0 Summary From the author interview with HireArt.com creators, Eleonora Sharef and Nick Sedlet, in a nut shells in this current economy climate and modern labour market, it is vital for the job seekers to have an additional skill respectively with the jobs they have applied to make them marketable and preferred choice to be employed. A college degree were not enough to guarantee a job as the employers nowadays were set the assessment test to evaluate the capabilities of candidates regardless of how they obtain the skills. HireArt.com was established to enjoin the broken bridge between the job seekers and job creators. With HireArt.com the shortlisted applicants were tested on their problem solving skills respective to the position they applying. Many of prospective employers wanted a perfect applicants to fill the vacancy so they do not need to spend extra training to train their new employee...
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...Thompson and Laura L. Beauvais I love my life! My husband and I have arranged our work lives so that we can spend as much time as possible with our kids, and still feel like we’re making a difference at work. —JESSICA DEGROOT, FOUNDER. THE THIRD PATH INSTITUTE It just got to be too much. Monday through Friday I caught the 6:30 train for the city, and didn’t return until 6 P.M. . I loved my job, the money was good, but there was no flexibility, no possibility for part-time work. And I really missed my kids. My husband was making more than I did and we finally decided we could live on his salary. So I quit. —LISA CELONA. FORMER NASDAQ EQUITY TRADER. CURRENT AT-HOME MOM I spent four years working for an insurance company as director of media services. Because my wife was a performer in New York City and had to work evenings; I was the primary caregiver for our two children. That meant I had to leave work earlier than any of the other managers, and that caused a lot of friction and resentment... The tension it created for me at work was instrumental in my eventually having to leave the company. —MICHAEL KERLEY, PRESIDENT, CREATIVE DIALOGUES Chapter Overview This chapter focuses on how women (and, increasingly, men) attempt to balance the multiple competing demands on their time and energy. The authors discuss the types of conflicts that often occur as employees try to meet the needs of their spouses, children, elderly...
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...Notes on The World is Flat (Friedman, 2006) Summary and excerpts from Thomas Friedman’s The World is Flat (2006) by Bill Altermatt CHAPTER 2: THE TEN FORCES THAT FLATTENED THE WORLD page 1 What Tom Friedman means by the phrase “The World is Flat” is that “the global competitive playing field is being leveled…It is now possible for more people than ever to collaborate and compete in real time with more other people on more different kinds of work from more different corners of the planet and on a more equal footing than at any previous time in the history of the world” (p. 8). Friedman believes that this “flattening” of the world is the result of ten factors, which he outlines in chapter 2 of his book: Flattener #1: “11/9/89, The New Age of Creativity: When the Walls Came Down and the Windows Went Up.” On 11/9/89, the Berlin Wall fell (“the Walls Came Down”) and the citizens of the former Soviet empire were suddenly able to participate in the global economy. Friedman uses the fall of the Berlin Wall as a symbol for a general global shift towards democratic governments and free-market economies (where consumers determine prices based on what they’re willing to pay) and away from authoritarian governments and centrally planned economies (in which prices are set by government officials). India made the conversion from a centrally planned economy to a free-market system two years after the Berlin Wall fell, when its economy was on the brink of collapse. Their annual rate of India’s...
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...2 ICTs AND GLOBAL WORKING IN A NON-FLAT WORLD Geoff Walsham Judge Business School University of Cambridge Cambridge, U.K. Abstract This paper rejects the hypothesis of Thomas Friedman that ICT-enabled globalization is driving us toward a flat world. Instead, it is argued that the world remains uneven, full of seams, culturally heterogeneous, locally specific, inequitable, not well-integrated and constantly changing. This argument is supported by an analysis of three areas of ICT-enabled global working, namely global software outsourcing, global IS roll-out, and global virtual teams. The paper then builds on these analyses to put forward an agenda for future IS research on ICTs and global working based on three research themes: identity and cross-cultural working; globalization, localization and standardization; and power, knowledge, and control. The paper concludes that the area of ICTs and global working offers the IS field a major research opportunity to make a significant contribution to our understanding of a set of crucial issues in our more globalized world. Flat world, globalization, global software outsourcing, global IS roll-out, global virtual teams, IS research agenda, identity, cross-cultural working, standardization, power, knowledge, control Keywords 1 INTRODUCTION The changes taking place in the global economy, including those in the burgeoning services component, are the subject of much debate by a wide range of commentators including journalists, practitioners...
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...Stakeholders, Shareholders and Wealth Maximization V. Sivarama Krishnan, University of Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that the primary goal of a corporation should be shareholder wealth value maximization. Extant theoretical and empirical research in financial economics also generally accept shareholder wealth maximization as the normative and ideal goal on which all business decisions should be based. This paradigm assumes that there are no externalities and all the participants engaged in transactions with the firm are voluntary players competing in free, fair and competitive markets. A very different view is offered by what is loosely called stakeholder theory. The stakeholder theory posits that the focus on shareholders and firm value is misplaced and managers should be concerned with all stakeholders of the firm. The paper attempts to address what is felt as a lack of dialogue between the two camps. INTRODUCTION Corporate finance theory, teaching and the typically recommended practice at least in the US are all built on the premise that the primary goal of a corporation should be the maximization...
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...business cycles over the past century. Its task is to identify the causes of these cycles; other papers in this collection address the nature of policy responses to these causes. This paper can be seen as a test to discriminate between two views of the American economy. The first is expressed in a characteristically vivid statement by Dornbusch, who proclaimed recently: “None of the U.S. expansions of the past 40 years died in bed of old age; every one was murdered by the Federal Reserve” (Dornbusch 1997). This stark view can be contrasted with its opposite in the recent literature: “[N]one of the popular candidates for observable shocks robustly accounts for the bulk of business-cycle fluctuations in output” (Cochrane 1994, p. 358). I expand the time period to consider the past century, but it is easy to distinguish the past 40 years, that is, the period since World War II. A survey of business cycle causes over an entire century runs into several problems, of which three seem noteworthy. First, it is not at all clear what “cause” means in this context. Second, the Great Depression was such a large cycle that it cannot be seen as just another data point. Third, the survey relies on the existing literature on business cycles, which is why I have entitled it an essay in economic historiography. The paper proceeds by discussing each of these problems in turn, then turning to the data, and finally drawing some conclusions from the preceding efforts. *Elisha Gray II Professor of Economics...
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...rement. Do not exceed 120 Effects of Contra st EFFECTS OF CONT RAST ON REACTION TIME 1 Effects of Contra st on Reaction Time in a Semantic Categorization Task or John Q. Author and Susan G. Coauth Univer sity of the West Sara P. Thirdauthor Univer sity of the East Effects of Contra st Effects of Contra Categorization Task st on Reaction Time in a Semantic in an indented (0.5” or five to seven d paragr aph that provides an introdu 3 The text of the paper starts here, -space spaces), left-justified, and double tion to the subject of the paper. The c- introdu ction should begin one double space uction” label is necessary. below the paper’s title. No “Introd The introduction continues here ... APA-MLA 3.0.indd 1 t Eins In 19 Zu Zu Ei .. .. Effects of Contrast Method Participa nts total number Describe the selection process for subjects, the chosen, and the number in each subgroup or sample Materials ... of subjects 4 .. .. 19 s of Contra st 2 Describe specialized equipment by giving the and location of the commercial supplier . . . Procedure Include model number and the name 6 of 32 trials 5 cm. 3 women, 6 men, 11 dogs, 9 bees 8% of those interviewed $5 Chapter 4, Table 7 “Twelve trials revealed . . .” 0.78 mm, p=.78 1950s .. t the paper title. ate only four or five previous research se all instruca step-by-step summary of the...
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...Review of Information Science and Technology, Vol. 45, 2011 Thomas Haigh thaigh@computer.org University of Wisconsin, Milwaukee Thomas Haigh The History of Information Technology – ARIST Draft 2 In many scholarly fields the new entrant must work carefully to discover a gap in the existing literature. When writing a doctoral dissertation on the novels of Nabokov or the plays of Sophocles, clearing intellectual space for new construction can be as difficult as finding space to erect a new building in central London. A search ensues for an untapped archive, an unrecognized nuance, or a theoretical framework able to demolish a sufficiently large body of existing work. The history of information technology is not such a field. From the viewpoint of historians it is more like Chicago in the mid-nineteenth century (Cronon, 1991). Building space is plentiful. Natural resources are plentiful. Capital, infrastructure, and manpower are not. Boosters argue for its “natural advantages” and promise that one day a mighty settlement will rise there. Speculative development is proceeding rapidly and unevenly. But right now the settlers seem a little eccentric and the humble structures they have erected lack the scale and elegance of those in better developed regions. Development is uneven and streets fail to connect. The native inhabitants have their ideas about how things should be done, which sometimes causes friction with new arrivals. In a generation everything will be quite unrecognizable...
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...Executive Summary Europe: The aging trend in Europe is in most place they are growing older. According to the European Commission (2012) “while the population of Europe will be slightly higher in 2060 (517 million, up from 502 million in 2010), the population will be much older. While longer lives are indeed a great achievement the aging of the population also poses significant challenges for the economies”. The share of those aged 15-64 is projected to decline from 67% to 56% while those aged 65 and over is projected to rise from 17% to 30%. This will cause Europe to go from have four people of working age to each aged over 65 to a mere two people of working age (European Commission, 2012). ● “The total number of workers is projected to decline by 15.7 million over the forecast horizon to 195.6 million in 2060. ● The decline in the workforce will act as a drag on growth and per capita income, with a consequent trend decline in potential growth. The latter is estimated to converge to below 1,5% in real terms in the long-term in the EU. Moreover, the demographic changes are expected to have substantial consequences on public finances in the EU. ● On the basis of current policies, age-related public expenditures (pensions, health-care and long-term care) are projected to increase by 4.1 percentage points to around to around 29% of GDP between 2010 and 2060”. The economics of depopulation are dark. At full employment, the real GDP has a good chance of declining...
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...CHAPTER 1 INTRODUCTION TO GLOBAL MARKETING SUMMARY Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. A company that engages in global marketing focuses resources on global market opportunities and threats. Successful global marketers such as Nestle, Coca-Cola, and Honda use familiar marketing mix elements – the four Ps – to create global marketing programs. Marketing, R&D, manufacturing, and other activities comprise a firm’s value chain; The value equation (V =B/P) expresses the relationship between values and the marketing mix. Global companies also maintain strategic focus while pursuing competitive advantage. The marketing mix, value chain, competitive advantage, and focus are universal in their applicability, irrespective of whether a company does business only in the home country or has a presence in many markets around the world. However, in a global industry, companies that fail to pursue global opportunities risk being pushed aside by stronger global competitors. A firm’s global marketing strategy (GMS) can enhance its worldwide performance. The GMS addresses several issues. First is nature of the marketing program in terms of the balance between a standardization (extension) approach to the marketing mix and a localization (adaptation) approach that is responsive to country or regional...
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...schemes are based on social welfare models, which conceptualize that it is the role of the government to cater for the needs of the citizenry. Therefore, income guarantee schemes undermine the ideals of capitalism that call for individual efforts for purposes of meeting needs. Income guarantee schemes have a long history of evolution, implementation, and success. Introduction The United States has a number of anti-poverty programs that guarantee economic support to the vulnerable in society (Economist, 2013, p. 1). Income guarantee schemes can be of great relief to a number of poverty stricken people in the country. In Canada, a four-year experiment with income generation schemes was successful but due to economic period of the time, the schemes were discontinued (Belik, 2011, p. 1). Though they intend to end poverty and provide economic equality, income guarantee schemes are counterproductive because they make it less desirable for people to be productive. Income guarantee schemes denote the role of government in providing free income to its citizens based on pre-arranged stipulations. These schemes have a long history and different states and governments have applied them differently. One stark quality...
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...maximum financial return to s shareholders. It became quickly apparent to everyone, however, that this pursuit of financial gain had to rake place within the laws of the land. Though social activist groups and others throughout the 1960s advocated a broader notion of corporate responsibility, it was not until the significant social legislation of the early 1970s that this message became indelibly clear as a result of the creation of the Environmental Protection Agency (EPA), the Equal Employment Opportunity Commission (EEOC). the Occupational Safety and Health Administration (OSHA), and the Consumer Product Safety" Commission (CPSC). These new governmental bodies established that national public policy now officially recognized the environment. employees, and consumers to be significant and legitimate stakeholders of business. From that time on, corporate executives have had to wrestle with how they balance their commitments to the corporation' owners with their s obligations to an ever-broadening group of stakeholders who claim both legal and ethical rights. This article will explore the nature of corporate social responsibility (CSR) with an eye toward understanding its component parts. The intention will be to characterize the firm' CSR in ways that might be useful to executives who wish to reconcile their s obligations to their shareholders with those to other competing groups claiming legitimacy. This discussion will be framed by a pyramid of corporate social responsibility...
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