...Introduction Do international economics of free trade important in the United States of America and in the world of different countries? Therefore, according to the article of "Embracing the Challenge of Free Trade: Competing and Prospering in a Global Economy", Ben S. Bernanke, who is the author and the Chairman of the Montana Economic Development Summit 2007 Butte, MT, had said," international trade in goods, services, and assets, like other forms of market-based exchange, allows us to transform what we have into what we need or want under increasingly beneficial terms. Trade allows us to enjoy both a more productive economy and higher living standards" (Bernanke). Free trade is very important as international economics will cause both advantages...
Words: 1237 - Pages: 5
...business credit without an EIN (employer identification number) and a DNB (Dun and Bradstreet) number. It is recommended that you FIRST establish at least 3 "small" trade accounts before signing up with a DNB package! When I first got started building business credit, I used the creditors that are highlighted below. By using only those creditors I was able to build stellar business credit inside of 4 months. No, you don't need good personal credit to build business credit but it certainly doesn't hurt if you do have good personal credit. Finally, even though it's important to build solid business credit, I strongly recommend that you begin building strong personal credit as well. It's nice to have a double arsenal of both good personal and business credit. When I say "pros" I mean that it is what makes it easier to get business credit from the creditor. When I say "cons" it doesn't necessarily mean that it's a "con" but rather they are extra steps/requirements needed to get the business credit. Here are the resources: 1) Advanta Business Credit Card - www.advanta.com Pros: Outstanding balance does not appear on personal credit reports Cons: Requires good personal credit Requires a personal guarantee 2) American Express - www.americanexpress.com Pros: Outstanding balance does not appear on personal credit reports Cons: Requires good personal credit Requires a personal guarantee www.SecretsToBusinessCredit.com Copyright © 2009 1 RESOURCE DIRECTORY BUSINESS CREDIT...
Words: 1094 - Pages: 5
...such as the European Union (EU). (Samii, 2011) And, global integration is where countries across the world agree to cooperate in trade agreements such as World Trade Organization. (Samii, 2011) Countries enter into these agreements seeking to reduce cost on both their imports and exports. In turn, countries will most likely see an increase in foreign direct investments resulting from trade blocs. (Curley, 2014) Trade blocs are created bringing countries closer together by eliminating tariffs. And as a result, demand changes based on the lower cost because now bulk productions are allowed. Consequently, the increased competition promotes greater efficiency within firms. (Curley, 2014) With some Trade blocs free trade is allowed within each country’s markets thereby encouraging each country to specialize in certain markets. (Economic Online, Unknown) In addition, jobs may be created because of the increased trade between members. (Economic Online, Unknown) And a final benefit is that firms inside the bloc are protected from cheaper imports from outside the blocs, such as the European Union show industry is protected from cheaper imports from China and Vietnam. (Economic Online, Unknown) On January 1, 1994, United States (US), Canada and Mexico entered into the North American Free Trade Agreement (NAFTA). (USTR, Unknown) One of the primary benefits is a decrease in tariffs. All three companies experienced wage increases and increased trade amongst the countries...
Words: 478 - Pages: 2
...different factors; GDP growth and population are two major causes. China has the largest populations in the world along with the fastest growing GDP percentages. Brazil’s population is not as large but does has a high GDP percentage, and also a high Dollar Pre Capital GDP. 2. Why do companies tend to thrive in global markets when their country of origin enjoys a comparative advantage in their industry? When their country of origin has naturally cheap raw materials or if their currency has been undervalued, they are naturally cheaper than their competitors from other countries. This gives them better margins and they thrive. 3. Explain how to calculate the balance of trade. How does the growing United States trade deficit impact the economy? Why? The money being spent to buy things from other countries is much larger than the amount of money where other countries are buying from the U.S. The deficit means we are buying more than we sell. To make up for the difference people and governments from other countries buy U.S. investments assets. 4. Explain the meaning of “strong” currency and “weak” currency. What are the advantages and disadvantages of each? When you have a strong currency you can go to other countries and buy some products or items cheaper, or it'll just be cheaper in general for you to travel. This also benefits the country with the weaker currency, since from this they can make more money...
Words: 762 - Pages: 4
...Introduction To understand into the trend of European currency change nowadays, the origins of the Euro (€) had been studied. From the background of Euro, initial idea for the creation of Euro can be trace back to 1979 when European Union (EU) set up European monetary system (EMS). Due to the successful of EMS, the European Union decided to form the Economy and Monetary Union (EMU) to create Euro in December 1991.The main advantages and disadvantages of a single currency for the countries and the zone had been analysis with the macroeconomics knowledge that has learnt from this course. The advantages mainly help to eliminate the floating exchange rate, transaction cost and price transparency, whereas the disadvantages include loss of sovereignty, cost of Euro and budget position. Thus, the significant influences of Euro dollar from birth to now, it can be known that Euro currency is defined under flexible exchange rate system. With flexible exchange rate, the currency can be effort between the capital movements, tax and subsidize international trade and therefore the currency from overseas will influenced the demand. 2. Analysis 1. History of Euro In January of 1999, single currency, Euro has been introduced by members of European Union. It has been approved by Maastricht Treaty and used by its members currently who called as Eurozone. Those members consists of 16 members which are Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg...
Words: 2771 - Pages: 12
...cheaper due to the deals that are offered through doing online shopping and also no travel is usually a perk that goes with this method of shopping. What is better than being able to shop in your PJ’s? In order to reach their consumers, businesses are either extending their products to the online world with specially developed websites advertisements; or they are cutting costs by switching from the traditional brick and mortar business to the technological based business. Business owners need to enter these decisions by airing on the side of caution, doing so by outweighing the pros and cons of entering into the online world. Th pros include a wider consumer base on a potential global recognition, the flexibility in working hours that are better, and lastly it can be cheaper to conducting business online (SEO Experts, 2013). However, taking on the adventure of an online business has its cons as well. These cons include that an online business has the potential of being a flooded market, depending on the type of market that is...
Words: 4085 - Pages: 17
...which Might Result for UK-based Firms Should the UK Adopt the Euro Name: Louise Tibagalika Module: The Global Business Environment Tutor: Phil Johnson Submission Date: 10th February 2014 Academic Integrity Statement: I have read and understood the Academic Integrity guidelines for Kaplan Open Learning and the University Of Essex, and declare that this assignment conforms to all of the rules and regulations contained therein. Please note: the guidelines can be found in the Student Handbook (see section 6.4). Introduction The euro is the single currency established in 1999, currently shared by 18 countries of the European Union’s Member States (Ec.europa.eu, 2014). Due to the number of advantages such as the stimulation of trade and disadvantages such as economic instability, the decision for the UK to adopt the euro is a big economic and political debate at present which will affect businesses and the public in many ways. The following report will look at the advantages and disadvantages for businesses and answer the question as to whether the UK government should proceed with the decision. Objectives * Assess the benefits of the UK adopting the EURO * Assess the drawbacks associated with the UK adopting the EURO * How businesses can utilise these benefits and survive in the international market * Look at the political, economic, social and environmental factors * Provide workplace and personal experience Methodology In order to achieve...
Words: 2433 - Pages: 10
...of travel to another country), or for engaging in speculation or trading in the foreign exchange market” (exchange rate, para.1). The purpose of this paper is to examine the exchange rate mechanism (Euro Currency Markets), explain how this mechanism is used in global financing operations, and to describe its significance in managing risks. The euro’s evolution began in 1946 when England’s Prime Minister Winston Churchill and other European leaders anticipated Europe to simulate the United States. This brought about the making of the 15- nation European Union that formed the euro. A&E (2013), states “On March 25, 1957, France, West Germany, Italy, the Netherlands, Belgium, and Luxembourg sign a treaty in Rome establishing the European Economic Community (EEC), also known as the Common Market. The EEC, which came into operation in January 1958, was a major step in Europe's movement toward economic and political union” (common Market founded, para. 1). The European Monetary Unit (EMU) was formed in 1991. Also in 1991, the treaty formed the European Central Bank, and one currency, the euro. If the member countries wanted to join in the EU, they had to have a low inflation and interest rates close to the EU average, a debt ratio of less than sixty percent of GDP, and have a budget deficit of less than three percent of their Gross Domestic Product (GDP). The next year the Schengen Treaty...
Words: 781 - Pages: 4
...Foreign marketing: loosely refers to marketing a product in a market outside the home market. International Marketing Environments Global Economic Environment Cultural Environment International Marketing Global Competitive Environment Political/Regulatory Environment Systems Global Systems Global Financial Systems International Monetary Systems and Foreign Exchange Market Global/regional Trading Systems (WTO, EU, NAFTA, ASEAN,...) Importance of International Marketing • • • • World trade has risen from $2 trillion to $18 trillion in last three decades. International trade grows twice as fast as domestic trade. Global marketing is a “must” for firms to achieve sustained growth. Marketing success will be defined on a global scale. Domestic and International Trade Growth Percentage of Growth 12% 10% 8% 6% 4% 2% 0% Year International Trade Domestic Trade Financial Statistics Yearbook Source: International 2011, International Monetary Fund, Washington D. C. Uniqueness of International Marketing More markets Complex and unfamiliar environments Greater risk (political, foreign exchange, economic risks) Greater resource commitment required Great potential for profits and growth New skills are required to succeed cross-cultural competency financial, legal, and human resources knowledge marketing skills Quiz A Which of...
Words: 1762 - Pages: 8
...them to encourage workers to work more efficiently. This results in higher productivity, increased output, and ultimately higher profits. Motivation theories People work very hard when they are working for themselves. When they work for other people, less so. Managers have been looking into what makes employees contribute their fullest to the company and these studies have resulted three main theories of motivation. F.W. Taylor Theory: ‣Money is the main motivator. ‣If employees are paid more, they will be motivated to work more. ‣Work is broken down into simple processes, and more money is paid which will increase the level of productivity an employee will achieve. ‣The extra pay is less than the increased productivity. Cons: ‣ Workers are seen rather like machines, and this theory does not take into account non-financial motivators. ‣ Even if you pay more, there is no guarantee of a productivity rise. ‣ It is difficult to measure an employees output. Maslow Theory: Maslow created what is known as the hierarchy of needs. In this diagram, there are 5 different types of motivation: ‣Level 1 - Physiological needs: basic requirements for survival. ‣Level 2 -Security needs: the need to by physically safe. ‣Level 3 Social needs: the need to belong and have good relationships with co-workers. ‣Level 4 Esteem needs: the need for self-respect and to be respected by others. ‣Level 5 Self-actualization needs: the need to reach your full...
Words: 7557 - Pages: 31
...Mktg 752-101 Jan/31/2014 Mktg 752-101 Jan/31/2014 B2B marketing Abstract Columbia Industries is a large manufacturer of code-approved products for the construction industry. The company’s products include couplings, flex-seal couplings, inflatable plugs and a board array of specialty couplings. On September 16, 1997 the Plant Manager (Jacques Debré), Industial Engineer (Stuart West), and the Plant Engineer (Sadra Ogrosky) are in the final meeting to discuss the final recommendation for the acquisition of 7 forklifts that are necessary for the warehouse operations. The team needs to find the forklifts that meets the company’s requirements which are low down time, safety, stability, better service and maneuverability. Problem Recognition Company needs to purchase 7 forklifts because its operations are growing and they need to provide on time service to their clients. Situation Analysis: Strengths * Support of Mr. Jacques Debré to adquire new equipment that contributes with company’s productivity * Support of Sandra Ogrosky due the poor performance and productivity in the company originated y downtime because repairs * Good relationship with company’s suppliers (Yale) * Necessary number of quotations that allows the company take better deisions Weaknesses * Lack of product expertise about forklifts Opportunities * Create new relationships with new suppliers * Acquire better forklifts that allows the company to increase...
Words: 1098 - Pages: 5
...European Union and Turkey Introduction to European Union In this globalization era, the world seems to be borderless, especially in Europe. This further confirmed by the formation of the European Union, which serves as a binding substance between the countries contained in the European continent. European Union is a political and economic based union, established in 1993 after the ratification of Maastricht Treaty. The international organizations are working together to create economic and political stability among member states. During its development, the European Union may not run smoothly. The emergence of the economic problems that rocked the euro zone, then Spain and Cyprus emerged as a "burden" in these economic problems. Another emerging issue is productivity, border policy, and the exchange rate that makes this organization stability unsteady. Another issue that emerged is the exclusivity of the organization. Another issues arising from the exclusivity of membership expansion problem. Preceded by the six founding countries, EU has 28 members now, as Croatia joined on 1st July 2013. The membership number is certain to grow rapidly with the number of countries that volunteered to become a member. Regardless of all the problems it faces today, the EU is still believed to be an organization that brings positive impact to its members. States' desire to be able to join the candidate can not be separated from the success tale of the European Union, particularly in the fields...
Words: 2769 - Pages: 12
...|International Business | |Credit Hours |3 |Semester |Spring 2014 | |Course |This course is an interdisciplinary and systematic introduction to international business with an emphasis on the:| |Objective |drivers, patterns and trends of globalization | | |national differences in political economy | | |international trade theories and patterns of international trade | | |political economy of international trade and investment | | |implications of regional economic integration | | |global monetary system | | |strategies and structures of international business | | |foreign market entry strategies and international strategic alliances | |Instructor |Muhammad...
Words: 713 - Pages: 3
...Juul Moller: The Internet Impact Consumer Behaviour Friday, February 5, 2016 Table of Contents Introduction 4 Situation Analysis 4 SWOT Analysis 4 Strengths 4 Weaknesses 5 Opportunities 5 Threats 6 Assumptions & Missing Information 6 Problem Statement 7 Development & Evaluation of Alternatives 7 Alternatives 7 Alternative One: Build an e-Commerce platform 7 Pros 8 Cons 8 Alternative Two: Strategic Partnership with NSM 9 Pros 10 Cons 10 Alternative Three: e-Textbook Options 11 Pros 12 Cons 12 Alternative Four: Client Focused Strategy 12 Pros 13 Cons 13 Alternatives Matrix 14 Index 14 Conclusion 15 Solution Objectives 15 Recommendation 15 Build an e-Commerce platform 15 Strategic Partnership with NSM 16 Client-focused strategy 16 References 18 Introduction Dag Juul Moller is the owner and president of Juul Moller Bokhandel, a bookstore located in Norway. Dag speaks to Dagfinn Nettland, a master of management student at the Norwegian School of Management. Dagfinn was enrolled in a course that required students to take an existing company and analyze how it could use the internet as a sales channel and source of information. Dag was interested in the fact that the required textbooks weren’t available until several weeks into the course. Some students purchased their books using Amazon.com, others resorted to using other bookstore websites. Some students had purchased other products through the internet with...
Words: 3685 - Pages: 15
...determine whether a union should operate within their workplace” Discuss. Due April 27, 9AM By cassidy Eastabrook 2171192 Due April 27, 9AM By cassidy Eastabrook 2171192 Introduction Unions have been a heavily debated topic in Australian workplaces for decades. Some see unions as unnecessary evils, interfering with employee obedience and trustworthiness, the overall employment relationship and an organisation’s practices. On the contrary, many other employers and employees see unions as a channel for collective bargaining and better employee representation. Throughout the years of debates one question has remained prominent, “Should management be able to dictate whether or not a union should function within their workplace?”. This question is, of course, controversial resulting in their being no clear cut answer. On one hand, some may argue that should management have this right, organisations may experience increased managerial prerogative, boosted productivity and performance and decreased levels of conflict. However, on the other hand, critics disagree, stating that whilst this may be the case, the overall wellbeing of employees will suffer as they are taken advantage of through individual contracting. This essay aims to delve into both perspectives; the perspective of management and the perspective of the employee and identify more clearly the benefits, as well as the drawbacks of this increase in managerial prerogative. The role of unions A union (also referred...
Words: 2108 - Pages: 9
