S2713454 International Business Tutorial 1 Exercise: 1. A firm specific advantage (FSA) is stand-alone resources + routines + recombination skills combined. In another words, it is firm’s ability to put higher effort or quality in their assets rather than their competitors. 2. Honda’s FSAs are; -They used much less presswork -More integrated welding process -Delivered better real cost-performance 3. Verbeke’s theory states that firms and multinationals should develop their unique resources which
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International business activity is one of the key features of the contemporary global economy. The decision to venture abroad involves the evaluation of alternative entry modes, bearing in mind the degree of risk and the suitability of the business environment in a potential host country or region. Political, economic, cultural and other factors are all of vital importance. This short course aims to explore these issues in the light of current research and with reference to recent developments in the
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Enviromental Law There are many differences between corporate law and environmental law; however, the similarities that exist are numerous as well. Although the environmental and business world are constantly changing due to advances in technology, law ethic, and human rights issues, the world of law changes and develops just as quickly to govern the two ever changing types of law. Although changes are made to corporate and environmental law somewhat often, the differences and similarities are
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activities which will help in time improve the company’s capability and functionality. They also help in the design and guidance of creating incentive plans for employees in order to motivate them and help give them a push to improve in the work environment. HR is strategic partners because they are the bridge that lies between the employees and the employers. They are the guidance between the two entities as to how to do things or handle matters in an appropriate matter according to company standards
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the strategic analysis, strategic objectives must be set by a firm’s vision and mission statement. Both the internal and external environments need to be analyzed and scanned. These are the steps that determine what obstacles and competitors stand in the way of success and how to overcome them. The final step in strategic analysis is the assessment of a firms intellectual assets and how to retain them such as: the knowledge worker, means of networking and technological enhancement of employee
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ongoing changes in the way firms run their operations. Now more than ever many firms are transforming their operations to include participation in the global market. As with any type of market, global market presents firms with both; challenges and rewards. Understanding the differences between domestic and global market is of advantage for the firm’s success in the global market. The different Aspects of Global Market The global market provides firms with great opportunities to
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essentially, organizations operating within a competitive business environment undertake greater knowledge acquisition and sharing through a wider set of learning orientations. There are two paths by which firms can use knowledge to create and sustain its competitive advantage. Firstly, firms can act internally to spread knowledge that other firms will find almost impossible to imitate, which is referred to as tacit knowledge. Secondly, firms can create superior knowledge management capacity, and in so
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Economic Insights – Trends and Challenges Vol. LXIV No. 1/2012 24 - 34 Strategic Environmental Scanning and Organization Performance in a Competitive Business Environment Bayode O. Babatunde*, Adebola O. Adebisi** * Department of Business Administration, College of Management and Social Sciences, Osun State University, P.M.B 2008, Okuku Campus , Osun State, Nigeria e-mail: bayoogoga@yahoo.com ** Department of Business Administration, Federal Polytechnic Ado -Ekiti, Ekiti State, Nigeria
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MT140 vocabulary: Acquisition: One firm buying another. Barriers to Entry: Conditions that prevent new companies from entering an industry. Benchmarking: The process of comparing an organization’s practices and technologies with those of other companies. Buffering: Creating supplies of excess resources in case of unpredictable needs. Competitive Environment: The immediate environment surrounding a firm; includes suppliers, customers, rivals, and the like. Competitive Intelligence: Information
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growing public disenchantment with traditional business practices that degrade the environment and compromise worker wellbeing, and resulting pressure from consumers and nonprofits on the private sector to reform itself. Instead of simply complying with government regulation, a company that is “socially responsible” adopts more stringent self-regulation ensuring that it is acting to minimize negative impact on the environment, its employees, its customers, and the community. The attitude that the corporate
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