Globalization refers to a process of increasing integration between units around the world, including nation-states, households, corporations and other organizations. It is an umbrella term, covering economic, trade, social, technological, cultural and political aspects, and is the opposite of protectionism. Theodore Levitt is usually credited with globalization's first use in an economic context. People are linked together economically and socially by trade, investments and governance. These links
Words: 2781 - Pages: 12
Abstract Established in 1968, Keppel Corporation is a Singaporean based conglomerate specializing in marine, property, infrastructure and investment businesses. Although it is well-developed and has promising prospects of becoming more influential globally, a recent underperformance reflected in its annual report and relevant negative news regarding the profit decline indicate that there are some factors interfering with its sustainability and profitability. Keppel’s Offshore and Marine sector
Words: 5820 - Pages: 24
$238 billion in 2004, it reached $518 billion in 2012 [IBEF, 2014]. With over 1.2 billion people in India, it has become one of the fast growing countries for retail markets to flourish in. Retailing has become one of the strong pillars of our economy as it accounts for 22 percent of India’s GDP and contributes to about 8 percent of total employment in our nation [FICCI]. Organized retail industry in India is bound to grow by leaps and bounds. This growth is driven by rapid changes in the sector
Words: 1068 - Pages: 5
During the 1960s and 1970s, India’s economy faced many challenges, growing only an average of 3–3.5 percent per year. Numerous obstacles hindered foreign companies from investing in India, and many restrictions on eco- nomic activity caused huge difficulties for Indian firms and a lack of interest among foreign investors. For many years the government had problems with implementing reform and overcoming bureaucratic and political divi- sions. Business activity has traditionally been
Words: 669 - Pages: 3
Chapter 1 INTRODUCTION: GLOBALIZATION AND INTERNATIONAL TRADE We live in a world that is highly interconnected by a bewildering array of complex economic transactions, social and environmental problems, and international political collaborations and conflicts. Examples from global economics are found in the news everyday. A decision by American policymakers to subsidize the production of ethanol, a form of gasoline containing an additive produced from corn, is seen by many as a key reason that
Words: 10241 - Pages: 41
Edison General Electric Company to be able to bring together his various businesses. During that same period, a competitor company, Thomson-Houston Company, became a dominant innovation company. As both businesses expanded and grew it became more difficult for both companies to produce complete electrical installations relying solely on their own patents and technologies. In 1892, the two companies merged together and created a new organization called the General Electric Company. The first General Electric
Words: 1794 - Pages: 8
it is an island country of the southern tip of the Malay Peninsula in Southeast Asia. Singapore has a strategic location for Southeast Asian shipping routes and also it is separated by the Straits of Johor from Singapore and Indonesia’s Riau Islands by the water side a decade ago. This country has highly development free market economy in which the economy is open and corruption-free. And the chief of state is the President and the head of government is the Prime Minister. 2. Political Characteristics
Words: 561 - Pages: 3
evaluation of actual performance at the end of “Year 9.” To review, a static budget does not change after it is developed, however, a flexible budget is one that summarizes revenues and costs from different volumes compared to similar ranges to like companies. Since a flexible budget is more complex and difficult to predict due to variances in costs compared to a fixed budget, it is necessary to answer questions when selling items with
Words: 2859 - Pages: 12
and participation in the petroleum industry. The Obasanjo government needed to achieve the objective by ensuring that a substantial portion of the activities in the oil and gas sector, which is the mainstay of Nigerian economy, were carried out in the country by Nigerian companies and Nigerian workers. As it is currently, more than 70 percent of the jobs in the oil and gas sector are still carried out by foreigners, an action, which is contrary to the local content policy of the Nigerian government
Words: 1205 - Pages: 5
escape from the reactor chambers. Due to the explosions the plants were left unable to produce any nuclear energy, it also had an effect on a range of exports including shipping and the food industry due to the contamination of these products, causing huge problems for the Japanese economy as it was unable to export goods to other economies whose countries were unable to receive the goods. (International Financial Law Review,2011), Countries such as the US, Hong Kong and China are amongst the most likely
Words: 1179 - Pages: 5
