International Business Environment BE2501 – Summary Chapter 1 Globalization – refers to the shift toward a more integrated and interdependent world economy. Globalization of markets – refers to the merging of historically distinct and separate national markets into one huge global marketplace. Globalization of products – refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such
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What are Business Ethics? Meaning Ethics is a branch of social science. It deals with moral principles and social values. It helps us to classify, what is good and what is bad? It tells us to do good things and avoid doing bad things. So, ethics separate, good and bad, right and wrong, fair and unfair, moral and immoral and proper and improper human action. In short, ethics means a code of conduct. So, the businessmen must give a regular supply of good quality goods and services at reasonable prices
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introduced to monitor inventory, procure supplies and transport and warehouse purchases received. The changes under consideration should each produce a positive effect. The introduction of POS technology and receipt of customer based orders creates a system designed specifically to increase sales while minimizing warehoused items. Fulfilling these orders would enable fewer but more accurate deliveries. The use of RFIDs affords the ability to identify products purchased and moved throughout the day for
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hierarchies, religion, notions of time, roles, spatial relations, concepts of the universe, and material objects and possessions acquired by a group of people in the course of generations through individual and group striving. * Culture is the systems of knowledge shared by a relatively large group of people. * Culture is communication, communication is culture. * Culture in its broadest sense is cultivated behavior; that is the totality of a person's learned, accumulated experience which
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resulted from the sudden flight of large amounts of capital from Asian countries that lacked adequate systems of prudential regulation, and whose foreign exchange rate proved disastrously brittle. The crisis was unique in its unprecedented severity of corporate distress and banking sector problems, and its quickness in recovery from the crisis. While technical improvements in the financial system were institutionalized, the crisis did not bring fundamental structural revisions, in both political
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the leftover structure). The architecture was permanent. The houses were well ventilated. Air and light used to enter the house. The houses were multi storied with strong foundation. The bricks were made of mud of land but were baked. The drainage system was proper, both inside and outside the houses. With the surplus they were into international trading. Some of the ancient treasures are found in Iraq (Mesopotamia). For trading they were using boats called Dhows- Dhows is the name used for local
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the difference in economies: FALSE- Productivity 6. The macro economy of the future is a global economy- TRUE 7. Comparing the price of like items in different countries is known as validating equality- FALSE: purchasing price parity 8. Moe’s office is BU 650: FALSE- BU 231 9. Prime rate is the interest rate the Federal Reserve charges to commercial member banks: FALSE- discount rate…prime rate is rate banks lend best customers- lowest rate 10. Creating a strong economy start with government
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“Foreign trade is that part of the external sector of the economy that regulates the exchange of goods and products between suppliers and consumers residing in two or more customs territories and / or other countries whose operations were statistically trade balance” This law is to regulate and promote foreign trade, increase competitiveness of foreign trade, increase competitiveness of the national economy, promote the use of the national economy, promote the efficient use of productive resources of
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Intro to Economic Concepts Definition of Scarcity A situation in which human wants are greater than the capacity of available resources to provide those wants. 3 Parts: 1. People want it 2. There is a limited amount of it 3. It has more than one productive use Scarcity Scarcity vs. Abundance – people see many signs of abundance (e.g. cell phones, iPods) and also see resources wasted daily (e.g. water and food). However, as long as resources are limited and people’s
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essential to eliminate Riba, what are the pros and cons of it to the society and the harms it can create. We will also discuss the differences that how riba based system, if replaced by the Islamic economic and financial system can help the society as well as what primarily could be the optimistic effects after the elimination of Riba from the system. Shariah Rules are the basis of any contract and essential to derive and allow rulings based on the principles of Quran & Sunnah. Riba (Usury) is one of
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