...easier to compare financial statements, but it will coordinate the free movement of debt and equity capital worldwide. (Mukoro & Ojeka, 2011) Hofstede defined culture as, “the collective programming of the mind which distinguishes the members of one human group from another” (Gray, 1988). Hofstede went on to explain that “culture” is society at large or entire countries, while a “subculture” is used for a level of personal, professional, and organization. The amount of culture integration may vary from society to society, but most subcultures within a single society have similar characteristics (Gray, 1988). Hofstede identified four major types of societal/cultural characteristics. They are individualism versus collectivism, power distance, uncertainty avoidance, and masculinity versus femininity (MacArthur, 2006). In an individualistic society, individuals are independent of one another and self-sufficient whereas in a collectivist society there is a higher association amongst members and there are strong unified cliques. People of high power distant societies tend to accept hierarchy without questioning authority, where in low power distance societies the perception is that everyone is equal and thus hierarchy is not accepted. High uncertainty avoidance societies tend to have more rules and avoid situations that make them...
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...here is how a society handles inequalities among people. People in societies exhibiting a large degree of power distance accept a hierarchical order in which everybody has a place and which needs no further justification. In societies with low power distance, people strive to equalise the distribution of power and demand justification for inequalities of power. < an example of Power Distance by Geert Hofstede 2. Individualism versus collectivism (IDV) The high side of this dimension, called Individualism, can be defined as a preference for a loosely-knit social framework in which individuals are expected to take care of themselves and their immediate families only. Its opposite, Collectivism, represents a preference for a tightly-knit framework in society in which individuals can expect their relatives or members of a particular in-group to look after them in exchange for unquestioning loyalty. A society's position on this dimension is reflected in whether people’s self-image is defined in terms of “I” or “we.” < 3. Masculinity versus femininity (MAS) The masculinity side of this dimension represents a preference in society for achievement, heroism, assertiveness and material reward for success. Society at large is more competitive. Its opposite, femininity, stands for a preference for cooperation, modesty, caring for the weak and quality of life. Society at large is more consensus-oriented. < 4. Uncertainty avoidance (UAI) The uncertainty avoidance dimension...
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...government intervention and regulation of the economy, whereas his personnel friend and ideological rival Hayek believes in the markets ability to control the economy. The differences in economic theory have spilled over into political debates, heated division within countries, and war. The battle between these two ideologies goes beyond sheer economic theory and spills over into individuals beliefs on how the world should be run and organized. John Maynard Keynes was an English economist who was educated at Cambridge University. He was considered by his peers and elders to have incredible potential as an influential world leader in the field of economics. During the First World War he served as an advisor to the government of the United Kingdom on how to organize their economy in the time of war. Keynes economic theory was based on the fact that in order to be successful an economy needed to be regulated and planned, to an extent, by the government. Based on his theory slight inflation was good, and necessary in order to keep unemployment down. The economy should be mixed between a free market economy for regular businesses and government regulation for the large industries such as coal, oil, and flight. His theories and beliefs became known nationally through his publications of The General Theory. His friend and rival, Hayek, strongly disagreed with everything that Keynesian economics stands for....
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... 2012 Jeannette Singh Whole Foods Market Business Environment Whole Foods Market specializes in offering organic and natural food and product across North America, Canada, and the United Kingdom. Currently ranked 273 in Fortune 500 companies would appear to be a good company to invest in. Prior to investing, the duties of a mutual fund manager are to examine the business environment of a potential investment. The documents that need examining are the income statement, balance sheet, and cash flow sheets. This analysis will aid in the determination of the financial health of Whole Foods Market. A comparison of Whole Foods Market with two competitors—United Natural Foods and Hain Celestial Group—will be completed. Technology is important within a business environment; therefore, the strength or weakness that Whole Foods Market has will also be discussed along with globalization. The paper will conclude with a benchmarking analysis of Whole Foods Market against United Natural Foods and Hain Celestial Group. Financial Health Every public company trading on the New York Stock Exchange is required to file quarterly and annual statements regarding financial records. To analyze the financial health of Whole Foods Market as a potential investor, I could access the United States Security and Exchange Commission (SEC) filing dated January 15, 2012. The key factors of a financial statement according to William Nickels, James McHugh, and Susan McHugh, (2010), are 1...
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...This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Taxing Multinational Corporations Volume Author/Editor: Martin Feldstein, James R. Hines Jr., R. Glenn Hubbard, Eds. Volume Publisher: University of Chicago Press Volume ISBN: 0-226-24094-0 Volume URL: http://www.nber.org/books/feld95-1 Conference Date: April 19, 1994 Publication Date: January 1995 Chapter Title: Corporate Taxes and the Cost of Capital for U.S. Multinationals Chapter Author: Joosung Jun, James R. Hines Jr., R. Glenn Hubbard Chapter URL: http://www.nber.org/chapters/c7724 Chapter pages in book: (p. 21 - 28) 3 Corporate Taxes and the Cost of Capital for U.S. Multinationals Joosung Jun 3.1 Introduction Tax rules affect the ability of U.S. firms to compete in foreign markets with local and other foreign firms. The primary channel through which taxes exert this influence is by changing the cost of capital. The competitive ability of firms that face different costs of capital depends on how capital intensive they are and how sensitive the demand for their product is to the price. This paper does not attempt to look at specific products, but does estimate how tax rules alter the cost of capital for U.S. firms and competing firms in a variety of foreign markets. Past comparative studies of the cost of capital have been mostly concerned with domestic investment between countries. A typical finding of these studies is that, during the past decade...
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... Since the year 2007, there has been over three major public shootings in the United States. On April 16, 2007 Cho-Seung-Hui shot and killed over thirty two students and faculty members at Virginia Tech College. On December 14, 2012 Adam Lanza shot and killed twenty students and six adults at Sandy Hook Elementary school. On January 18, 2013 James Holmes shot and killed twelve people an injured fifty at the Century 16 Movie Theatre in Colorado. (Center for American Progress Action Fund, 2013). These public shootings all have one thing in common with one another. Each shooting was conducted in a ‘gun free zone.’ With the exception of one, the attack on Congresswoman Gabrielle Gifford in 2011, every public mass shooting since the year 1950 occurred in a ‘gun free zone.’ When an area is rendered ‘gun free’ a false sense of safety for the surrounding citizens is provided. Many people assume that ‘gun free zones’ are safe places but in reality they create an optimal environment for a mass shooter looking for a place where they would not be faced with and resistance from their defenseless victims. In most criminals’ and mass shooters’ minds, there is no better place to open fire than one where their victims cannot fight back. There was an enormous issue recently and that is still ongoing today about rather to add to the gun control laws in the United States or not. In many states there are laws in place that prevent citizens carrying, and even owning guns. Many believe...
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...Introduction to Exchange Rates and the Foreign Exchange Market 2 Per $ 1.225 1.084 5.238 0.703 7.750 48.160 94.860 13.220 7.460 0.609 1.000 1. Refer to the exchange rates given in the following table. Today June 25, 2010 Country Australia Canada Denmark Euro Hong Kong India Japan Mexico Sweden United Kingdom United States Per $ 1.152 1.037 6.036 0.811 7.779 46.360 89.350 12.697 7.740 0.667 1.000 Per £ 1.721 1.559 9.045 1.215 11.643 69.476 134.048 18.993 11.632 1.000 1.496 Per € 1.417 1.283 7.443 1.000 9.583 57.179 110.308 15.631 9.577 0.822 1.232 One Year Ago June 25, 2009 Source: U.S. Federal Reserve Board of Governors, H.10 release: Foreign Exchange Rates. a. Compute the U.S. dollar–yen exchange rate, E$/¥, and the U.S. dollar–Canadian dollar exchange rate, E$/C$, on June 25, 2010, and June 25, 2009 Answer: June 25, 2009: E$/¥ = 1 / (94.86) = $0.0105/¥ June 25, 2010: E$/¥ = 1 / (89.35) = $0.0112/¥ June 25, 2009: E$/C$ = 1 / (1.084) = $0.9225/C$ June 25, 2010: E$/C$ = 1 / (1.037) = $0.9643/C$ b. What happened to the value of the U.S. dollar relative to the Japanese yen and Canadian dollar between June 25, 2009 and June 25, 2010? Compute the percentage change in the value of the U.S. dollar relative to each currency using the U.S. dollar–foreign currency exchange rates you computed in (a). Answer: Between June 25, 2009 and 2010, both the Canadian dollar and the Japanese yen appreciated relative to the U.S. dollar. The percentage appreciation in the foreign currency...
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...Central Queensland University Australia | Challenges of an Australian HR manager may face in London | | Subject: HRM in the Global Environment HRMT20022 Subject: HRM in the Global Environment HRMT20022 Over the last few decades the number of expatriates is increasing worldwide. These men and women represent a very important asset for organisations which are developing new business across the world. These expatriates are generally sending abroad to develop strategies or resolve problems in the host country. Consequently, the organisation has to be informed of any issue that expatriates might face and affect the work abroad in terms of international human resource management (IHRM) and industrial relations (IR) issues. Deb (2009) define IHRM as ‘a strategic process of managing a global and diverse pool of talented people in such a way as to achieve aims and objectives of the organisation both at parent and subsidiary level successfully, follow ethical practices on human and business issues and be adaptable to local cultural norms and other human needs and aspirations’. And Dowling, Festing and Engle (2013, p.242) define IR as ‘The board field of study that looks at wider issues of work and employment’. The purposes of this essay are to identify and discuss the IR and HRM issues an expatriate from Melbourne could face while living and working in London. In relation to Industrial relations issues, the role of unions, employment contracts, regulations, visas, taxation...
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...not employed. In the United States, people already have a right to purchase healthcare, but they should never have a right to receive healthcare free of charge. Healthcare is a service that should be paid for, not a right. In European countries with a universal right to healthcare, the cost of coverage is paid through higher taxes. In the United Kingdom and other European countries, payroll taxes average 37% - much higher than the 15.3% payroll taxes paid by the average US worker. According to research, financing a universal right to healthcare in the United States would cause payroll taxes to double. In addition, a right to healthcare could increase the US debt and deficit. Spending on Medicare, Medicaid, and the Children's Health Insurance Program, all government programs that provide a right to healthcare for certain segments of the population, totaled less than 10% of the federal budget in 1985, but by 2012 these programs took up 21% of the federal budget. Studies have concluded that the expansion of insurance coverage under universal right to healthcare will increase the federal deficit by $340-$700 billion in the first 10 years, and could increase the deficit to $1.5 trillion in the second 10 years. A right to healthcare could also increase the wait time for medical services and lower the quality and availability of disease screening and treatment. Countries with a universal right to healthcare have longer wait times than in the United States. In 2013 the average wait...
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...5 main national cultures. Answer Hofstede’s research, which was conducted prior to the GLOBE project, is based on 116,000 people in 50 countries. Nonetheless, all of the research was conducted in a single firm—IBM. As such, the result should be interpreted with caution. The five cultural dimensions are as follows: 1. Power Distance Index The extend to which the less powerful members of organization and institution (like the family) accept and expect that power is distributed unequally. This represents inequality (more versus less), but defined from below, not from the above. It is suggest that a society’s level on inequality is endorsed by the followers as much as by the leaders. Power and inequality, of course, are extremely fundamental facts on any society and anybody with some international experience will be aware that ‘all societies are unequal, but some are more unequal than others. 2. Individualism The one side versus its opposite, collectism, that is the degree to which individuals are integrated into groups. On the individualist side we find societies in which the ties between individuals are loose: everyone expected to look after him/ herself and his/ her immediate family. On the collectivist side, we find societies in which people from birth onwards are integrated into strong, cohesive in- groups, often extended families (with uncles, aunts and grandparents) which continue protecting them in exchange for unquestioning royalty. The word ‘collectism’...
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...Introduction The essay will focus on the subject of rich and poor countries; it will distinguish between four classifications based on income levels. These include low-income country, lower-middle income country, upper-middle income country and high income country. It will provide an analysis and explanation for observed differences and trends. Each category will provide a practical example by comparing the levels of development indicators of the four countries as well as the trends over time. The development indicators include: Health – This is a state of the whole physical, mental and social well-being and not merely the absence of disease. A person can be in good health and poor health. Health is not just a feature of the daily life; it also appears frequently on the political landscape (Bury, 2005). Education – this is the act of teaching or getting general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself for developed life. Poverty and inequality- it refers to a social phenomenon under which the standard of living of individuals and households in a community or country is persistently below a certain level required physically for sustaining human life according to some accepted social norms (Bhalla & Qui, 2006). Inequality is the gap between the rich and the poor. GDP per capita- this is a core indicator of economic performance and commonly used as a broad measure of average living standards or economic well-being...
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...The United Kingdom Tables of Content 1. The United Kingdom’s Background 2. Culture of the United Kingdom 3. Language, social class, sports, stereotypes, doing business in the UK 4. 5 Main tourist destinations 5. Recent News 6. Economy of the United Kingdom (vs. the United States) 7. Politics and Business in the United Kingdom 8. Membership to World Trade Organization 9. Free Trade Agreements with the United States 10. Business Indicators and Country Rank 11. Problems and Corruption in the United Kingdom 12. Important Companies in the United Kingdom 13. References & Bibliography The United Kingdom’s Background The United Kingdom (also known as Britain) is a sovereign state located to the northwest of France, and spans 94,060 square miles. Its climate is mild, and rainfall is prevalent between September and January, with more than half of the days being overcast. The UK is made up of the providence of Northern Ireland, as well as Scotland, England, and Wales (together considered a country); it entered the European Union in 1973. Its 64.1 million citizens primarily speak English, however there a few other regionally recognized languages spoken, including Scots, Scottish Gaelic, Welsh, Irish, and Cornish. The UK’s main cities are London (capital of the UK), Edinburgh (capital of Scotland), Cardiff (capital of Wales), Belfast (capital of Northern Ireland)...
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...should be different according to cultures and according to the people from different cultures in the workplace. The most famous study about how culture relates to values in the workplace was conducted by Geert Hofstede. From 1967 to 1973 he did a long research among more than 1 million employees in IBM company. He identified 5 dimensions. These dimension are 1) power distance, 2) individualism versus collectivism, 3) uncertainty avoidance, 4) masculinity versus femininity 5) Confucian dynamism or long term orientation. Let`s briefly review all these dimensions. Power distance. Power distance is about how much a culture accepts or doesn’t accept authority. If people in high positions or in high status show his or her power, rank or status and other people from lower levels accept this behavior; it means there is a high power distance. For example my country Azerbaijan is high power distance country. You cannot joke with your boss; you have to be careful while talking with people from high status etc. And the boss working room is separated from others. But it is not same in United States. Your boss is not only your boss he is also your friend. You may joke with him to some extent, you may go and drink with him after work, even you may criticize him. And he or she work in the same workplace with other employees although he or she is a boss. It means there is low power distance in USA. In cultures where there is low power distance people doesn’t accept...
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...late 1800's early 1900's and is rapidly growing. In the beginning, the first psychologists to practice industrial/organizational psychology was experimental psychologists ( ). Originally starting in the United Kingdom with the focus on employee health and level of fatigue. When industrial/organizational psychology was founded in the United States it was by American Psychologists Hugo Munsterberg and Walter Dill Scott. The field of industrial/organizational psychology went through a series of major events, all occurring in the United States. Another key figure was Frederick Taylor, who pioneered Scientific Mangagement; his approach on handling production workers in factories. It was Taylor who believed that there was four key factors or guidelines for all employees, across the board. It is the husband and wife team of Lilian & Frank Gilbreth who are credited as the first to receive a Industrial/Organizational Psychology degree. Most credit Bruce V. Moore with the obtaining the first psychology degree in this field, in 1921. It wasn't until World War 1, in both the UK and USA, that I/O Psychology was put in to use. in the United Kingdom the Health of Munitions was established in 1915 to deal with issues regarding employee health, safety, and efficiency. In the United States it was marked by the entry in to war in 1917. This caused a...
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...February 13, 2012 Abstract This paper will be discovering the macro environmental trends that encompass most businesses both domestic and foreign. Regardless of where the organization is located, the marketing managers must comprehend the demographical regions in which they conduct business transactions, the sociocultural situations and well the economic livelihood of the populace. Additionally, this paper will explore the technological resources, regulatory rules of the regions they are conducting business in, and the regulatory rules that may have a favorable or unfavorable affect on conducting business in the regions they wish to conduct business. The focus organization is Coca-Cola and how they marketed water and healthy beverages versus carbonated Coca-Cola products. Introduction The Coca-Cola Company has ventured into the water business with the onset of more and more people embracing a healthier lifestyle. This paper will be encompassing the six categories defined in Marketing Management A Strategic Decision Making Approach, which are demographics, sociocultural, economics, technological, regulatory, and natural environments (Mullins & Walker. p. 97). These six categories are relevant because the trends are what the marketing managers must understand to understand what influences the demands of the general market. In many areas, the push for bottled water and healthy beverages is becoming greater around the globe. This trend is forcing carbonated...
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