...theme parks in different countries. In 1992, the “Disney company” expanded by opening a new theme park in Paris known as “Euro Disneyland”. By the time, Disney announced the new project they were planning to make, there were many critics and arguments arising according the Disney’s approach at Euro Disneyland. However, the question remains whether there are any strengths and weaknesses of Disney’s approach at Euro Disneyland and what steps should be taken next to ensure success in the operations. The Disney’s approach at Euro Disneyland was mainly criticised for its influence on French culture and this can be analysed through theories and concepts displaying the “for” and “against” arguments of different topics affecting it. The topic that had the most effect on Disney’s approach is Globalisation. Globalisation is the process by which the world is becoming more interconnected as a result of increased trade and cultural exchange. Disney was benefited from globalisation’s impact since it is associated with some advantages. Firstly, Euro Disneyland was located in the middle of Europe close to Paris which is a very famous tourism destination and it was also expected to create 28000 jobs helping the French economy to flourish. Disney would also open a MGM studio in Europe which has a strong branding name leading to increased attraction of visitors. All these are supported by the logic of eclectic theory where decisions of what is globalised are made through combination of factors...
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...country of the European Union. Between 1947 and 1989, Romania was controlled by the Russian Soviet Union and enforced by communism. Today, reported in its 2011 Census, Romania’s currently has a population of 21,390,000 people and a gross domestic product (GDP) of $179,793,512,340. Though now considered as an upper-middle income country by the World Bank, Romania has faced many transitions from communism to capitalism over the course of the past three decades. Along with the intense transformations from communism to capitalism, Romania’s accounting practices progressed in three different facets. Albu, Albu, Faff, and Hodgson’ (2011) study describes Romanian’s accounting practices in three different stages: The first stage was based on French code law accounting (1991-99), while the second stage was characterized by a growing...
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...Case Study Firm: Credit Lyonnais Industry: Banking Countries: France, World-wide International HRM Issue: The internationalization of a bank & the cultural conflicts involved 1) Introduction This study of Credit Lyonnais, one of the world's largest banks with offices in over 60 countries, examines the organisation and human resource management strategies thought necessary to survive the rapid market changes in international banking. Credit Lyonnais provides a particularly good example of a large bank which is determined to succeed through growth in services offered in existing markets and through extending into new markets. Credit Lyonnais has offices on all continents, and in the countries where it has operations, it applies one of two growth strategies: i) organic growth (increasing the activity of its branches and subsidiaries, or opening new branches) ii) acquisitions / mergers (involving either take-overs or purchase of minority interests in local banks). Credit Lyonnais now has 610 offices outside Europe and these are either subsidiaries (where the HRM has a majority shareholding) or associated companies (where the HRM has a minority shareholding). The Credit Lyonnais Group has grown very rapidly over the past few years and will continue to grow with planned expansions on all Continents and in all areas of business. Realizing at an early stage of its expansion that its service and market strategies required an equally strong human resource strategy Credit Lyonnais...
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...Question 3 The contingency approach showed renewed concern with the importance of structure as a significant influence on organisational performance? The contingency approach believes that it is impossible to select one way of managing that works best in all situations like promoted by Taylor. Their approach is to identify the conditions of a task (scientific management school), managerial job (administrative management school) and person (human relations school) as parts of a complete management situation and attempt to integrate them all into a solution which is most appropriate for a specific circumstance. Contingency refers to the immediate (contingent or touching) circumstances. The manager has to systematically try to identify which technique or approach will be the best solution for a problem which exists in a particular circumstance or context. An example of this is the never ending problem of increasing productivity. The different experts would offer the following solutions: Behavioral scientist: create a climate which is psychologically motivating; Classical management approach: create a new incentive scheme Contingency approach: both ideas are viable and it depends on the possible fit of each solution with the goals, structure and resources of the organization. . The contingency approach may consider, for policy reasons, that an incentive scheme was not relevant. The complexity of each situation should be noted and decisions made in each individual circumstance ...
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...will help with student’s self-efficacy because they know what they are coming into and can feel confident and comfortable in the classroom. Being consistent fits in with predictability because the students need to know that what the teacher says will stay the same. If a teacher is consistently changing rules and expectations then students will lose trust because they won’t know what the teacher is expecting of them. Self-management In order to promote self-management, I would use French and Ravens’ (1959) approach of Reward, Powers and Authority. Giving rewards or incentives can promote self-management. The students need to have respect for the teacher giving the reward, so I plan on gaining the trust and respect by building positive relationships. After gaining their respect, the praise I give the students will be meaningful to them. When students are doing the right thing I will use positive reinforcement to encourage them. Also to promote self-management, I want students to create their own rules for the classroom using the democratic approach as explained by Savage (2010). Giving the students a chance to make up their own rules. As Savage explains...
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...book, Security Analysis (1940, p. 724). Over subsequent decades the investment approach has evolved utilizing varying fundamental methodologies but always maintaining the principle of investing when a discount to intrinsic value exists. Graham and Dodd (1940, p. 368) referred to this principle as the 'margin of safety'. This essay will explore the various methodologies, expand on the 'margin of safety' concept and discover the factors that have led to the success of the exponents of value investing. Bierig’s (2000) assessment of the Graham and Dodd approach indicated that a value investor doesn’t just follow share market fads but instead ‘searches for stocks selling for less than their intrinsic value’ and after purchasing, waits for market recognition that corrects this discrepancy. Athanassakos (2011b) has illustrated that a search for undervalued stocks is the initial process undertaken. He maintains that these stocks tend to be ‘avoided by large institutional investors’ and are not the ‘glamour stocks everyone wants to own’. Graham (1973, p. 211) describes two methods of searching for fundamentally undervalued stocks; companies selling at a low price to earnings ratio (PER) and companies selling under their net current asset value, otherwise known as a low price to book value (P/BV). Companies matching these criteria are widely described as value stocks (Athanassakos 2011b; Basu 1977; Fama & French 1992; Lakonishok, Shleifer & Vishny 1994; La Porta et al. 1997). There is extensive...
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...The Capital Assets Pricing Model Name: Course: Professor/ Tutor’s Name: University: City/State: Date: The Capital Assets Pricing Model Introduction The Capital Assets Pricing Model (CAPM) , is a method of pricing assets of capital nature. This model applies Beta (non-diversifiable risk) to link risks and returns of investments. According to Stahl (2016), Beta is a standard for measuring the systematic risk or the non-diversifiable risk. The uncertainty in the economy of a particular country causes the systematic risk. Systematic risk is that risk sharing or risk diversification cannot reduce. Economic downturns, war, natural calamities and a change of government policy are some of the activities that cause systematic risk. Both CAPM and Beta are measures of risk (Anon 2014). The capital assets pricing model defines the required rate of return of security. CAPM can be a mathematical equation, or a graphical representation is known as the security market line (SML) (Stahl 2015). An analysis of CAPM indicates that there are several critiques of this model. Nevertheless, there are multivariate models used to overcome these critiques. A).Formulas to Calculate CAPM and Beta 1). Capital Assets Pricing Model CAPM= [pic]= [pic]+ [pic] (RM-RF) Where; [pic] is the cutoff rate or even minimum required rate of return RM- RF is the risk premium and is above free rate RM is the market returns [pic] is the...
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...Marketing" 13/e by Philip C. Cateora and John Graham, McGraw-Hill 2007. Factors that contributed to Euro Disney's poor performance during its first year of operation. There are several different in nature factors that joined together and contributed to a disastrous beginning of operations. Most of them were management mistakes and others, although external factors, if considered, could have result in different management decisions leading to a better start. In my view these are the most important ones: The timing. EuroDisney opened in 1992, just when two other international events had place: the Olympics games in Barcelona and the World's Fair in Seville; both in Europe and relatively close to Paris. It's obvious that been unrepeatable events, available only for a certain limited amount of time they were a strong competition. A huge amount of people choose attend to these events instead visiting EuroDisney. Suffice it to say that more than 40 million people visited the Seville Expo during the 6 months it was open (versus 9 million EuroDisney visitors accounted for 1992 all year around). To add insult to injury, an economic recession was starting in Europe and Disney management failed to see the signs of it. Some people reduced expenses. In several countries due to airfares and currency valuations, a visit to the original Orlando Parks in the US was even more advisable just only considering price. Lack of research to understand the local market and culture and Wrong Marketing...
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...get an additional benefit of enjoying the weather. The Gulf war in 1991 also had a negative and during the same period, Europe was facing a recession. The French, for some reason, did not like the American culture while Disney tried to enforce this culture. The world fair in Spain and the Olympics in Barcelona in 1992 attracted holiday visitors hence, EuroDisney did not have many guest visiting it that year. Hong Kong Disneyland faced different issues. Firstly, people were not familiar with the characters since Disney was banned for 40 years in China. The park was small, with just a few rides compared to other Disneyland's, therefore customers were not interested. Despite these issues, it fared better since it incorporated a lot of Chinese culture. 2. To what degree do you consider that these factors were (a) foreseeable and (b) controllable by EuroDisney, Hong Kong Disney, or the parent company, Disney? Since the cost of Disney World Florida was cheaper, customers preferred to fly to the US. This meant that prices in Paris could also be controlled. There were several other mistakes made by the management; for instance, alcohol was banned although consuming wine with meals was a French tradition. The reason for banning alcohol in the park could be justified but it was not acceptable by the French due to their tradition. These factors should’ve been foreseeable to everybody else except the owner of Disney because he was starting to believe that everything...
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...of high and low face-saving cultures: Issue | High face-saving | Low face-saving | Context | High | Low | Favoured business communication approach | Politeness strategy; indirect plan | Confrontation strategy; direct plan | View of directness | Uncivil; inconsiderate; offensive | Honest; inoffensive | View of indirectness | Civil; considerate; honest | Dishonest; offensive | Amount of verbal self-disclosure | Low | High | Vagueness | Tolerated | Untreated | Source: Adapted from Romana Paszkowska, Intercultural Communication Module. Cracow School of Business Cracow University of Economics, 2014; p.12 Other Face Concern High Low High Self Face Concern Low INDIVDUALISTIC LOW-CONTEXT CULTURE COLLECTIVISTIC HIGH-CONTEXT CULTURE Obliging Compromising Avoiding Integrating Dominating Third-party help Passive agressive Emmotional expression CHINESE FRENCH Conflict Communication Styles: Dominating: One person's position or goal above the other. Avoiding: Eluding the conflict topic, the conflict party, or the conflict situation altogether. Obliging: High concern for the other person's conflict interest above a person's own interest. Compromising: A give-and-take concession approach in order to reach a midpoint agreement. Source: Adapted from Em Griffin,...
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...' Academy ol Management Executive, 2002, Vol. 16, No. 4 Four Seasons goes to Paris floger HalloweU, David Bowen, and Carin-Isabel Knoop Europe is different from North America, and Paris is very different. I did not say difficult. I said diffeient. —A senior Four Seasons manager Executive Summary Four Seasons Hotels and Resorts opened its first French property in 1999. This article presents that opening as a case study to illustrate a perspective on how a company with a strong and highly successful organizational culture might approach a new national culture when that cuhure is both distinct and intense, as is the case in France. Managers can henefit from the case by understanding this approach to organizational and national culture, which the authors believe represents a useful framework for global management. The article begins with a discussion of the linkage between corporate cuifure and competitive advantage for service organizafions. It then describes the corporate support structure and the philosophy that Four Seasons developed over two decades to support its international expansion and to manage the type of challenges its French property posed. Finally, it describes how the firm went about transforming that property into one of its crown jewels. The Linkage Between Service Culture and Competitive Advantage The enduring success of service organizations such as Southwest Airlines, The Walt Disney Company, Wal-Mart, and USAA (among others) is frequently ...
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...------------------------------------------------- Assignment 1 Cross Cultural Study MGMT 978: Cross Cultural management MGMT 978: Cross Cultural management Outline: Creating a rich understanding of cultural behavior in the workplace using primary data from local organizations and cross cultural theory. Outline: Creating a rich understanding of cultural behavior in the workplace using primary data from local organizations and cross cultural theory. Supervised by Dr. Alison Thirlwall Supervised by Dr. Alison Thirlwall Group Members Kawtar ASSILA Fadoua Nqairi Bhumika Chhatwani - 3378251 Omar Setti Ghassan Ouajnati - 4433543 Group Members Kawtar ASSILA Fadoua Nqairi Bhumika Chhatwani - 3378251 Omar Setti Ghassan Ouajnati - 4433543 In Green: to be put in appendix in red: to be put in transcript remarks: make the findings part shorter highlight the concepts of ethnocentrism (French consultant) highlight the concepts of high context and low context (all of three) Background: Every culture has elementary principles of viewpoints and these differences affect the beliefs practiced at work as well as communication carried out amongst employees. Thus it is important for managers and employees in a work environment to understand the importance of it to have a mutual synchronization while performing their job. The research we have conducted for our analysis is based on an Irish multinational executive search firm called Practice...
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...two cultures are in close proximity to each other although their cultures may be different they may still have power or influence over the decisions, practices and beliefs of the other. This paper will use the national issue in France involving a majority of the French people objecting to Turkey being allowed to join the European Union. The French, who share a particular national identity and history, have shared their different views as 'Frenchmen and Europeans' feel that Turkey's acceptance into the European Union is not acceptable. Turkey, the nation in between Europe and Asia is viewed as an important economic and political ally by many European nations with Turkey having access to many of the passageways toward Asia and Russia for trade and the most important oil and gas pipelines. The Turks were deeply disappointed when they received the news from France that they were unwanted. France’s influence was powerful among the other G8 member nations and its leadership within the European Union was highly valued. Many important French allies like Germany, Austria, Switzerland and Belgium considered the French people’s position because their own population was so heavily influenced by the public opinion of the French people. Many of the leaders within Turkey “were extremely offended and took it as a form of discrimination and disrespect against them as Turks”...
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...Cons of Passive Approach? 1. The DFA Company is a type of broker investment company that invest in Small stock. This focus is on a small niche that fits within the realms of the company. This provide limitations to the company about the type of stock they will invest in. However it provides an academic understanding as to which stock the company should select based on the formulations. The company’s growth and profit continued to grow with their academic approaches. The company’s management never set the goal to maximize assets. DFA based their approach on academic research and skilled traders. This create a essential formula for the company to create a list of possible investments that fit within the company’s ideal portfolio. DFA used a strategy to decrease the costs between the client and DFA as well as create value. DFA additionally used a value proposition of DFA by using the academic research to create specialized portfolios focusing on the small cap companies (small cap = 300 mil- 2 bill range). This investment approach focused on the Fama and French model. Their research demonstrated the small cap companies tended to outperform the large cap companies. DFA also added trading capabilities to increase variety among the competitive market while decreasing transaction costs. Passive Approach - Pros the company created low operating expenses, no initial decision making from managers or the investors. Relied on the fundamentals of the Fama and French Model. Cons...
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...servants to buy into countries. He knew the real work happened behind the scenes and using an inciemental approach, His largest contribution was his “limited but decisive point” Monnet believed that with economic integration that political integration would eventually be achieved, a process called “spinover” Monnet believed by having a unified Europe would create a process of sectorial ‘intergration’ “I am optimisit delermuned” Jean Monnett was a Frenchman born in 1888.Monnet was highly a intelligent economist. In 1940 he went to work in Washington, working for the British Supply council to negotiate the purchase of war supplies. Short, after arriving he became an aclvisor to President F.D Roosevelt. As an advisor he inspired the implementation of the Victory Plan in 1941 which as John M. Kaynes argued shortened the war by at least one year. Monnets problem solving abilities and diplomatic approach came to light during the European Recovery Programme talks (E.R.P.). The E.R.P. had several management problems one of which, how American aid should be allocated. Monnet sujested that each nation should establish a plan like the French. The proposal was kniwn as the “The Marshall Plan”. The idea was not adopted but gave Monnet a substantial degree of diplomatic credibility. Following the 2nd World War France was in need of economic reconstruction. Monnet advised the French goverment to rebuild France using German coal...
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