...Sunderland © 2013 The University of Sunderland First published September 2013 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without permission of the copyright owner. While every effort has been made to ensure that references to websites are correct at time of going to press, the world wide web is a constantly changing environment and the University of Sunderland cannot accept any responsibility for any changes to addresses. The University of Sunderland acknowledges product, service and company names referred to in this publication, many of which are trade names, service marks, trademarks or registered trademarks. All materials internally quality assessed by the University of Sunderland and reviewed by academics external to the University. Instructional design and publishing project management by Wordhouse Ltd, Reading, UK. Contents Introduction vii Unit 1 The contemporary world of business and management Introduction 1.1 1.2 The global business environment The importance of developments in the global environment Case Study 1.3 Organisational decision making and performance vii 1 3 10 14 17 19 19 20 Self-assessment questions Feedback on self-assessment questions Summary Unit 2 Globalisation Introduction 2.1 2.2 Definitions and indicators of globalisation Key drivers and facilitators of globalisation...
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...beliefs and convictions. 3. President Narayanan was in office from 1997 to 2002, a time when globalization, as we are experiencing it in the current times, was taking root. At the banquet he hosted for the visiting US President Bill Clinton in New Delhi in March 2000, President Narayanan remarked: “Mr. President, we do recognise and welcome the fact that the world has been moving inevitably towards a one-world... But, for us, globalization does not mean the end of history and geography, and of the lively and exciting diversities of the world.” This was a thoughtful remark. As much as globalization may be inevitable, history and geography need not be destiny. If we learn the lessons of experience, we will not repeat the same mistakes. This indeed is the topic for my 1 K.R. Narayanan Oration by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the South Asia Research Centre of the Australian National University, Canberra on June 23, 2011. oration, and my tribute to late President Narayanan - to seek the lessons of the crisis that we have just gone through so that we can make this a better world of all of us. Is This Time Different? 4. By all accounts the 2008/09 crisis has been...
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...period—the financing of which was made possible by the reserve currency status of the US dollar. “This excess demand resulted from both the public debt” and “the overconsumption by households.” (Lin 2012, Treichel 2012, p.3) “As shock waves of the global financial crisis (GFC) reached East Asia in autumn 2008 immediately after the collapse of Lehman Brothers in September, the region faced the task of evaluating and reassessing the economic cooperation efforts of the previous ten years” (Katada 2011, p.274) Thus by evaluating and reassessing the economic cooperation of those previous ten years East Asia was able to maintain its flexibility during the Global Financial Crisis. The aim/purpose of this assignment is to show how the Asian economies have performed during and after the Global Financial Crisis, in relation to the structural transformation, in the role of the state/government, businesses, labour relations and regional...
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...transform the global economy as we now know it. China has state-of-the-art manufacturing and India is boosting its competitive edge through innovation hubs. While the United States is deciding if “Chindia” is a threat or an opportunity the massive low wage, highly educated, and forward thinking work force is transforming these two poor nations into global powerhouses. Yet, all is not perfect. While governments and business pour mass amounts of investments into the countries there are huge obstacles to continued growth. There are social, political, and environmental challenges. Important is keeping growth at a steady pace that will eliminate the unemployment lines. Pollution and environmental challenges, political backlash, debt and currency crises, inadequate medical care, threats of epidemics, and war are continuing challenges. The next few years will see a dramatic acceleration in the shift of global economic power eastwards, according to the latest predictions from The Conference Board, an international network of leading business figures. It believes that the sluggish growth in the established economies of North America, Europe and Japan will result in their share of global GDP shrinking from around half today to a third by 2016. In line with other international bodies, such as the IMF and the OECD, the Conference board sees global growth returning next year, after the worst downturn in three-quarters of a century. The Board says that the world economy will expand by...
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...Chelsea McCann 1. Describe the shifts in the world economy over the last 30 years. What are the implications of these shifts for international businesses based in Great Britain? North America? Hong Kong? As stated in chapter 1, Along with globalization, there has been a significant change in demographics of the global economy over the last 30 years. The aspects that contributed to demographics throughout the 1960’s were U.S. dominance in the world economy, world trade picture, world foreign direct investment, and on the international business scene. Also, much of the world economies were off-limits to Western international business. The demographics of the multinational enterprise have displayed not only a rise of non-U.S. multinationals but also a growth of mini-multinationals. In 1973, 48.5 percent of the 260 largest multinationals in the world were U.S. firms. The second leading country with the largest multinationals was the UK. While these countries, along with France, Germany and Japan, are still determined to be the largest multinationals, developing countries are on the rise. Firms from these developing countries are expected to give rise to leading competitors, which would continue to shift the world economy away from North America and Great Britain. The United States’ share of the world output has decreased from 40.3% in 1963. The decline has been a result of the growing industrialization of countries such as Great Britain, North America and Hong Kong...
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...UNIVERSITY OF NAIROBI SCHOOL OF BUSINESS MASTER OF BUSINESS ADMINISTRATION TERM PAPER TOPIC: ISSUES IN GLOBAL BUSINESS MANAGEMENT DSM 602: By DR. YABS NGETICH MONICAH D61/69197/2013 INTRODUCTION The scope of strategic business issues faced by companies and organizations striving to operate and be successful internationally has widened due to an increasingly broad geographic scope and the increasing complexity of technology. Strategic issues arise not only through the formal, periodic strategic planning processes in companies but also can, and quite often do arise unpredictably due to new insights, unexpected advances in technology or competitive activities in the market place. All companies have their way of identifying and dealing with these being their most critical strategic questions. However, theprocess of managing emerging strategic issues is typically non-structured, not necessarily optimally suited to enable the effective identification of the most critical questions and the appropriate allocation of top management attention and corporate intelligence support to answer the identified strategic questions. Despite the past research during 1960s, 1970s, and 1980s into the domain of strategic issues (SI), strategic issue management (SIM), and strategic issue management systems (SIMS) there is a scarcity applicable approaches for firms to use in improving their attention focus and distribution in strategic issue management processes. The underpinnings of strategic management...
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... | Country | GNP | Per Capita | USA | $10,533 | $38 | Japan | $4,852 | $38 | Germany | $2,242 | $27 | Britain | $1,544 | $26 | France | $1,543 | $26 | China | $1,329 | $1 | Italy | $1,260 | $22 | Canada | $760 | $24 | Brazil | $715 | $4 | Spain | $651 | $16 | Mexico | $578 | $6 | South Korea | $515 | $11 | India | $510 | $0.5 | Australia | $444 | $24 | Netherlands | $429 | $27 | Taiwan | $363 | $16 | Argentina | $300 | $8 | Switzerland | $286 | $39 | Sweden | $275 | $31 | Belgium | $264 | $26 | Russia | $252 | $2 | Austria | $226 | $27 | Turkey | $212 | $3 | Poland | $188 | $5 | Indonesia | $174 | $0.8 | Thailand | $132 | $2 | | Country | % of Global GDP | % of World Population | USA | 32.9% | 4.65% | Japan | 13.4% | 2.09% | Germany | 6.0% | 1.36% | Britain | 4.6% | 0.99% | France | 4.2% | 0.97% | China | 3.7% | 20.84% | Italy | 3.5% | 0.95% | Canada | 2.3% | 0.51% | Mexico | 2.0% | 1.62% | Spain | 1.9% | 0.65% | Purchasing-power parity (2003) Rank | Country | PPP total | PPP/capita | Population | | | ($ billions) | ($) | (million) | | European Union | 10,840 | 28,600 | 379 | 1. | USA | 10,400 | 37,600 | 290 | 2. | China (mainland) | 5,700 | 4,400 | 1,287 | 3. | Japan | 3,550 | 28,000 | 127 | 4. | India | 2,660 | 2,540 | 1,049 | 5. | Germany | 2,180 | 26,600 | 82 | 6. | France | 1,540 | 25,700 | 60 | 7. | Britain | 1...
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...as well as its potential. This year, the country’s macroeconomic, social and political stability have taken over as the key driver of investment. This represents a shift from our previous two surveys, which showed that the country’s low labor costs and productivity gains on offer were its most appealing features. This change can be attributed in part to the ongoing instability of the global economy. It is this uncertainty that has led investors to look to countries such as Kazakhstan as a safer place to grow. The reality of foreign investment in Kazakhstan confirms this perception. While global FDI inflows declined by 18% between 2011 and 2012, Kazakhstan remained a stable destination for investors, receiving US$14b in FDI inflows. Investors continue to perceive Kazakhstan as a treasure trove of natural resources, while they also value some knowledge-based, high-value-add sectors that hold considerable promise. The Kazakhstan Government remains committed to reducing the country's dependence on extractive industries and developing a more balanced, knowledge-driven and investor-friendly economy. It continues to improve the competitiveness and productivity of priority sectors, such as agriculture and agro-processing; construction and construction materials; oil refining and support services; metallurgy; chemicals and pharmaceuticals; transportation; automotive; telecommunication; biotechnology; and alternative energy. However, our survey findings reveal a wide perception gap between...
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...REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. U.S. Economy How does the current U.S. economy affect REI retail operations? The U.S. spent the years 2007 – 2009 in a period of serious recession. This caused consumers to seek out lower prices for the goods and services they need and caused a significant decrease in spending for anything other than necessity items (Charles W. Lamb, 2013). Since REI is in a broad sense in the entertainment industry, spending for the type of items REI sells would have been reduced. Yet, it seems that, according to the outdoor industry association, that more than 140 million Americans place outdoor recreation in a position of high priority in their lives. Therefore, though they may search competitors to find the best prices, Americans have not significantly lowered the amount they are spending on outdoor recreation (Outdoor Industry Association, n.d.). So it seems the current economic conditions are forcing REI to face losing sales to competition and not simply losing sales to lack of spending due to economic conditions. Global Economy How does the current global economy affect REI retail operations? The global economy, which had shown signs of recovery, has weakened (Wessel, 2012). Therefore, any market REI had outside of the U.S. will be reduced. This can have a dual effect. Any competitors that REI in terms of U.S. exports will be suffering the same...
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...in theory, one could have an international economy consisting of autarchic domestic economies engaged in limited commerce with each other. Or one can imagine (as was largely the case well into the 19th Century) an international economy whose connections involved luxury goods or a few ―products (sugar and slaves, for example). A global economy, however, implies one in which few if any of the domestic economies really exist separate from the planetary whole. A global economy is one that is interconnected and networked across a variety of borders as well as including a variety of goods and services. It also presupposes a set of agreements regarding the rules of the game whether these involve accounting regulations, or business norms. Global capitalism is the expansion of the principles and practices of property and the market to the world stage. A few summary statistics can give a sense of the size and scope of this global stage (World Bank, Maddison). The global economy is now larger than it has ever been and the pace of its growth has been unprecedented over the past half century (despite the recent shocks). World GDP increased six fold from 1950 to 1998 with an average growth of 3.9% per year compared to 1.6% between 1820 and 1950 and 0.3% from 1500 to 1820. Over the past 10 years (prior to the summer of 2008) the world economy has grown by more than a third and some of the poorer parts by two-thirds. Each person in the world (on average) is now 7 times richer 10 than...
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...Article: Johnston, E. 2012, ‘BoQ pushes ahead with capital raising’, Sydney Morning Herald, 28 March, viewed 1 April 2012, Summary The article, ‘BoQ pushes ahead with capital raising’ (Johnston 2012) in the SMH Business News enlightens responders of the Bank of Queensland (BoQ) recent decision to proceed with a ‘$450 million capital raising’ plan (Johnston 2012). Moreover, earlier in the same week the bank had warned investors of a possible first half-year, $91 million loss (Johnston 2012). Application of concepts The recent decision by the BoQ to rise capital funding relates to the economic component of the PEST model. The significant performance fluctuations between last year’s profits as compared to this year’s potential loss, which is approximated to be $91m, can be explained to be consequential of the highly unstable economic environment (Johnston 2012). Factors such as post GFC strains including significant drops in consumer confidence and credit shortages are still prominent in many different sectors of the market (Reuters. 2011). For BoQ in particular, it was it’s adverse exposure to the ‘property market bust in the tourism hot spots’ that unfavourably affected its profitability (Johnston 2012). However, fortunately for the bank institutional investors were able to raise $284 million and pick 92% of the banks entitlements (Johnston 2012). This strong support can be seen as a direct result of the bank’s diverse CSR operations. The bank’s diversification into programs...
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...Week 4 started off with watching the video The Commanding Heights. A very boring film if you asked me but as I spoke up in class I said the video was filled with Propaganda. Propaganda is never good. It was basically speakers who owned big corporations and third-world sweatshops with horrible working conditions. If you enjoy globalization and economics well then this is the video for them. Personally, I feel like people who watch this film can learn a lot more from walking out of their own house and reading up on new things. This documentary left out on a lot of issues. The people speaking who owned the corporations only worried about themselves and that’s how the documentary started. It was basically a paid documentary by those corporations to promote propaganda. Week 5 and 6 we defined and gave examples of our midterm terms and we began to talk about Introduction to Globalization and Business. They both go hand in hand. The impact of the business depends on the effects of the economy. There will always be pros and cons. The conversation in class confused me a little bit. There is so much to Globalization that I didn’t know about. We had a short week 7 but in class we discussed two articles: "More or Less" and "Black Gold,". Black Gold talked about one of the most disturbing things people could sell on the black market …hair. Nonetheless hair that is rat infested, had lice, even sweat and blood. Sad to say, women in India were touching this hair in the worst working conditions...
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...SYLLABUS Cambridge IGCSE® Economics 0455 For examination in June and November 2016. Also for examination in March 2016 for India only. Cambridge Secondary 2 Changes to syllabus for 2016 This syllabus has been updated. Significant changes to the syllabus are indicated by black vertical lines either side of the text. Cambridge International Examinations retains the copyright on all its publications. Registered Centres are permitted to copy material from this booklet for their own internal use. However, we cannot give permission to Centres to photocopy any material that is acknowledged to a third party even for internal use within a Centre. ® IGCSE is the registered trademark of Cambridge International Examinations © Cambridge International Examinations 2014 Contents 1. Introduction .................................................................................................................... 2 1.1 1.2 1.3 1.4 1.5 Why choose Cambridge? Why choose Cambridge IGCSE? Why choose Cambridge IGCSE Economics? Cambridge ICE (International Certificate of Education) How can I find out more? 2. Teacher support.............................................................................................................. 5 2.1 Support materials 2.2 Resource lists 2.3 Training 3. Syllabus content at a glance ........................................................................................... 6 4. Assessment at a glance .................
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...of the Examination in CAPE History is similar for both Unit 1 and Unit 2. Paper 01 in each unit consisted of nine short-answer questions, three on each Module. The questions were intended to assess the range of content covered by the syllabus, and questions were set on each theme. Candidates were expected to answer all nine questions. This paper was worth 30 per cent of the candidates’ overall grade. Paper 02, on the other hand, emphasized depth of coverage. Three questions were set on each Module, one of which required candidates to analyse extracts from a set of documents related to one of the themes in the Module. The other two questions were extended essays. Both the document analysis and the essay questions required well-developed and clearly reasoned responses. Candidates were required to choose three questions, one from each Module. They were required to respond to one document analysis and two essay questions. This paper contributed 50 per cent to the candidates’ overall grade. Paper 03, was the internal assessment component. Candidates were required to complete a research paper on a topic of their choice from within the syllabus. This paper contributed 20 per cent to the candidates’ overall grade. Unit 1: The Caribbean in the Atlantic World Paper 1- Short Responses that Test Coverage Module 1 This Module focused on Indigenous Societies and their encounter with the Iberians. Question 1 This question required candidates to describe two economic features of either the Kalinago...
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...not able to buy our syllabus yet, and I was not able to complete the suggested homework. So, instead of doing nothing, I have decided to hand in my personal simplified summary. I will get my syllabus as soon as possible, I apologize for your inconvenience. Best regards, Joseph Niehl Baron *********************************************************** Chapter II: Thinking like an Economist Principle of Economics 1. Every field has it’s own language and it’s own way of thinking. 2. The Economist as Scientist a. Economists two roles: Scientists / Policy advisors b. Devise theories, collect data, analyze data to verify or refute c. Scientific method: Observation and theory 3. Assumptions and models a. Assumptions can simplify the complex world and make it easier to understand b. Use models to learn about and illustrate the world. c. First model: The circular flow diagram: is a visual model of the economy that shows how dollars flow through markets among households and firms. d. Second model: The production possibilities frontier: is a graph that shows the various combinations of output that the economy can possibly produce given the available factors of production and the available production technology 4. Microeconomics and Macroeconomics a. Microeconomics: is the study of how households and firms make decisions and how they interact in market b. Macroeconomics: is the study of economy wide phenomena including...
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