...Comin (2012, cited in Nobel, 2012) states that by the introduction of technology advancements to the society, such as the mobile phones in the 1980’s in the United States, GDP per capita had risen from 13993.2 US dollars in 1981, to 54629.5 US dollars in 2014, (The World Bank, 2016) (The World Bank, 2016), Whereas India, due to not effectively utilizing the new technology introduced also in the 1980’s, where the GDP per capita being 275.9 US dollars in 1981, to 1581.5 US dollars in 2014 , (The World Bank, 2016) (The World Bank,...
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...In the development of sustainable tourism. The differences in cultural backgrounds of tourists affect the behaviour of consumption decisions, selecting products and services. BUT how can we understand cultural differences? Fortunately, psychologist Dr. Geert Hofstede asked himself this question in the 1970s. Geert Hofstede, born 2 October 1928 in Haarlem, is a Dutch social psychologist, who focuses his work on the study of cultures across nations and conducted one of the most comprehensive studies of how values in the workplace are influenced by culture. His original research of cultural dimensions involved a study of IBM employees from across the world. In fact, he developed four cultural dimensions as “Power Distance,” “Uncertainty Avoidance,” “Individualism versus Collectivism” and “Masculinity versus Femininity” respectively. A fifth dimension was added in 1991 based on the study of Michael Bond in Hong Kong which reflects the cultural differences between Europe and Asia. Hofstede gives the following definition of the LTO-dimension: “Long Term Orientation stands for the fostering of virtues oriented towards future rewards, in particular, perseverance and thrift. Its opposite pole. Short Term Orientation, stands for the fostering of virtues related to the past and the present, in particular, respect for tradition, preservation of face and fulfilling social obligations” (Hofstede , 2001, p.359). We can note that LTO and STO address the differences in cultures...
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...Phương 8) Le Hoang Vu 9) Vu Quang Huy Date due: 15/05/2011 Table of Contents I/ Introduction: 3 II/ GDP- a powerful tool for economics measurement: 4 III/ Why is GDP not a perfect measure of well-being? 7 1. Leisure time: 7 2. The environment: 8 3. Non-market activity: 10 IV/ Conclusion: 11 I/ Introduction: It is no doubt that if people want to judge a person is doing economically, they usually first look at his or her income. Similarly, when talking about an economic condition of a country, it is not surprise that people most frequently look at the average income of that nation or in other word, Gross Domestic Product (GDP) per capita. To be more specific, the most commonly accepted method of comparing generalized differences in quality of life on a whole between nations is to use GDP per capita on purchasing power parity (PPP) basis in current international dollars. In our report, we propose to clarify the usefulness (the reason why economists use GDP per capita as a major measurement) as well as the limitation when using GDP to measure the economic well-beings of a nation. Before looking at pros and cons of GDP, it is necessary to know how GDP and GDP per capita are defined. The economists definite Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country in a given period of time, while GDP per capita is the GDP of a country divided by its population. The difference between GDP...
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...It has both positive and negative aspects, but it helps spreading nationalism. This trend marks a changing point of view of the role of traditional power. Internet communication has shaped both political dialogues and civilization conflicts. Therefore, countries have to reconsider the power of technology as the changing shift in the interaction between soft and hard power. In defining power, I accept humorously that power is just like love: easier to experience than to define or measure. Leaders may fall into the bias towards imaging power as a stable component of one-fit-all settings. Thus, they tend to apply one theory to all situations and that does not work. The case study reveals the differences between the role of America in the Vietnam War and in preventing the September 11 tragedy. The problem is not to redefining the role of power but to analyze the...
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...I came from a traditional Asian family that defined as a large extended family, usually up to three or four generations living together ((Vandeusen et al., 1980) which already shaped my perspectives of cultural values and beliefs early in life. As the hierarchical in the structure of traditional Asian family, male has higher value comparing to female, therefore male has more responsibilities to take in a family such as the bread maker, a good husband, a good father, a good son following the set standards (Linda, 2002). My father is the eldest son in the family has six children and I am the eldest son in the family has five children as well as the great grandchildren. This means that I was expected to be a good example for my younger brothers and sister to follow and I am always in the comparisons with everyone in the relatives. According to Chan (1986) Asian families apply “ pride and shame “ principle, which means that an individual’s actions reflect on the whole family, to their children. People who are successful in schooling and workplace enhance family pride while bad behavior brings shame to the whole family. Being educated by this mindset, my only duty was studying hard to get good marks to be the excellent student in order to make my parents proud. I became an overachiever always seeking for the best of everything and really afraid for being second, for losing in a comparison. I was guided to study three different languages, Vietnamese, English and Mandarin; since...
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...(Hofstede, 2012). This Model gives one an important tool for gaining insights into given cultures which can improve business opportunities and interactions (International business etiquette, manners and culture, 2012). Power Distance Index (PDI) is the degree to which the less powerful members of a society accept and expect that power is distributed unequally. The issue is how a society handles inequalities. Mexico, ranking 81on the PDI, is a hierarchical society. Regionally, Mexico ranks higher on PDI than the United States (rank 39) and Canada (rank 40), whose ranks indicate that their cultures strive to equalize the distribution of power and demand justification for inequalities of power. Globally, however, countries vary greatly in PDI, (average PDI rank of 60; Clearly Cultural, 2012). One must consider the PDI rank when doing business with a given country in a certain region. For example, Mexican businesses hoping to successfully compete in business within the United States or Canada must be willing to consider “team, everyone has a say” cultural values. Businesses from these countries, however, would need to develop a more autocratic approach in Mexico. An appointed authority must show their rank and be able to give clear guidance to others seen as lower in the hierarchy (Kwintessential, 2012). Globally speaking,...
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... Background of Unilever…………………………………………………...2 3. Hofstede culture dimension theory ……………………………………..3 4. General culture of Unilever……………………………………..…………4 5. Hofstede Culture model of Vietnam, UK and Unilever Vietnam ……5 6. Issues of Labor in Vietnam Operations…………………………………8 7. Efforts taken by the company to deal with the labor issue…………9 8. Advantages of establishing a good culture policy …………………..10 9. Conclusion………………………………………………………………….11 10. Reference………………………………………………………………….12 Introduction Cross-cultural relationships are imperative for businesses to expand operations. It is imperative to understand the nuances of each culture. Only then can businesses thrive in a new environment (Hofstede, 2011) The Hofstede culture analysis determines the traces of each work culture. From this the differences between the cultures can be worked out. For the purpose of this analysis the organizational culture of Unilever in Vietnam has been studied. The global Unilver culture and the culture of Unilver Vietnam will be examined in this report. The Culture of Unilever, its Corporate Social Responsibility practices will be be studied. It will compare with the existing theoretical models like the Hofstede culture models. The labor issues operation supply in Unilever Vietnam operations has been discussed in this analysis. The rectification process undertaken by the company has also been discussed. From the changes the impact of the company in the markets has...
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...Globalisation NIKE – just do it Introduction Nike, Inc. is an incorporated company that designs, develops and markets worldwide athletic footwear, apparel, equipment and accessories. Nike is the biggest seller of athletic footwear and athletic apparel in the world and creates designs for men, women and children. Nike employs both traditional and non-traditional distribution channels in almost 200 countries with primary market regions in the United States, Europe, Asia Pacific, and the Americas. Nike has some 20,000 retailers worldwide including Nike factory stores, Nike stores, Nike Towns, Cole Haan stores and Web sites which sell Nike's sports and leisure products. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Skateboarding, and subsidiaries including Cole Haan, Hurley International and Converse. Nike accounts for 33% of the global market share in the athletic footwear industry. Nike sponsors many high profile athletes and sports teams around the world with the highly recognized trademarks of Just do it (www.nike.co.uk). GLOBALISATION: Globalisation is defined as the micro- phenomenon where there are a free flow of capital efficiency, technology and other factors of production which promote world welfare in its strides. (Nande and Dias, 2007.,p.2) KEY DRIVERS OF GLOBLISATION: there are three main factors which motivate the globalisation of markets and production which are explained as under: Falling barriers to trade...
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...# 03 / 2009 © Irum Shahid Strengthening Corporate Governance to Combat Corruption ‘I call on member countries to work urgently with us to address major corporate governance failures. This will be a vital step to reinforcing market integrity.’ - Angel Gurría, Secretary-General, Organisation for Economic Co-operation and Development (OECD). The collapse of global financial markets in September 2008 has ignited a debate on what caused their quick undoing. As captured in the comments of the OECD Secretary-General, there is a growing sentiment that poor corporate governance is one of the forces to blame. It allowed the transparency, accountability and integrity of companies to be compromised and for abuses to go unchecked, particularly on matters of corruption. w w w. t r a n s p a r e n c y . o r g Table of Contents 1. 2. 3. Why is corporate governance critical? What is covered by corporate governance? Aligning corporate governance and anticorruption 4. 5. Recent reform efforts Moving the agenda forward Strengthening corporate governance to combat corruption What is Corporate Governance? For TI, corporate governance is understood to mean the “procedures and processes for how private sector organisations are directed, managed 4 and controlled”. This includes the relationships between, responsibilities of and legitimate expectations among different stakeholders (Board of Directors, management, shareholders, and other interested groups). Laws and regulations provide the...
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...financials from 2006-2010 which was right before the massive economic recession. Ford was able to stay afloat during these rough years however this economic downturned caused one of largest competitors General Motors to receive billions of dollars in bailout money from the United States government. I chose to study Ford because I actually had started investing in their company in my own starting in 2006 and I wanted to study how Ford’s finances were positioned when I began investing and see if it was a great buy or I should have instead invested at the time in Toyota a large multi-national competitor that is based in Asia and also operate in the United States which I had thought about investing the money in back in 2006 however I choose Ford instead. “Mulally who was named president and CEO of Ford, in 2006, the famous American Ford Motor company is a leader in automobile manufacturing industry some of the most purchased products are the Ford Focus, Ford F-150 pickup and the Ford Mustang is always a must have with the sports car enthusiast. Ford Motor Company's family of brands includes cars, crossovers, trucks and SUVs from Ford, Lincoln and Mercury brands. Ford also has thousands of dealerships around the United...
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...CHAPTER 8 IMPORTING, EXPORTING, AND SOURCING SUMMARY A company’s first business dealings outside the home country often take the form of exporting or importing. Companies should recognize the difference between export marketing and export selling. By attending trade shows and participating in trade missions, company personnel can learn a great deal about new markets. Governments use a variety of programs to support exports, including tax incentives, subsidies, and export assistance. Governments also discourage imports with a combination of tariffs and nontariff barriers. A quota is one example of a nontariff barrier. Export-related policy issues include the status of foreign sales corporations (FSCs) in the United States, Europe’s Common Agricultural Policy (CAP), and subsidies. Governments establish free trade zones and special economic zones to encourage investment. The Harmonized Tariff System (HTS) has been adopted by most countries that are actively involved in export-import trade. Single-column tariffs are the simplest; two-column tariffs include special rates such as those available to countries with normal trade relations (NTR) status. Governments can also impose special types of duties. These include antidumping duties imposed on products whose prices government officials deem too low and countervailing duties to offset government subsidies. Key participants in the export-import process include foreign purchasing agents, export brokers, export merchants...
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...Global Economics January 2012 The World in 2050 From the Top 30 to the Top 100 A new economic world order is emerging at extraordinary speed. This publication broadens our list of the world’s top 30 economies to the top 100. The underlying theme is that the economies we currently call “emerging” are going to power global growth over the next four decades. Our update tells the story of the emergence of parts of Africa, the rise of some of the central Asian republics, as well as some startling advances for countries such as the Philippines and Peru. By Karen Ward Disclosures and Disclaimer This report must be read with the disclosures and analyst certifications in the Disclosure appendix, and with the Disclaimer, which forms part of it Economics Global 11 January 2012 abc From the Top 30 to the Top 100 Attention will increasingly turn to the ‘new emergers’ as the world economy undergoes a seismic shift Demographics to play a crucial role, helping parts of Africa finally emerge from economic obscurity When we published ‘The World in 2050’ a year ago (4 January 2011), we gave a projection for the Top 30 economies by size in 2050 from a pool of the largest 40 economies today. This update casts a wider net and seeks to identify the Top 100 economies by size. A larger universe increases competition for the Top 30 and allows us to consider the ‘new emergers’ in the coming decades. Our ranking is based on an economy’s current level of development and...
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...TABLE OF CONTENTS CONTENTS | 1 | INTRODUCTION | 2 | PROBLEM STATEMENT | 16 | SOLUTION | 18 | RECOMMENDATION | 42 | CONCLUSION | 52 | REFERENCES | 55 | COURSEWORK | 56 | INTRODUCTION What Is International Trade? International trade theories are simply different theories to explain international trade. Trade is the concept of exchanging goods and services between two people or entities. International trade is then the concept of this exchange between people or entities in two different countries. People or entities trade because they believe that they benefit from the exchange. They may need or want the goods or services. While at the surface, this many sound very simple, there is a great deal of theory, policy, and business strategy that constitutes international trade. Below are the different trade theories that have evolved over the past century and which are most relevant today. Plus the factors that impact international trade and how businesses and governments use these factors to their respective benefits to promote their interests. What Are the Different International Trade Theories? In more recent centuries, economists have focused on trying to understand and explain these trade patterns. To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade. The main historical theories are...
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...Microcultures in Canada A Comparative Approach Introduction Every society contains both a mainstream culture and many different subcultures. The mainstream culture is how one is identified as. However, microcultures consist of how we identify ourselves within the global mainstream culture. There are multitudes of ways to participate in a microculture. It could be along ethnic, religious lines, or even lifestyle. All these factors come into play with regards to the different aspects of microcultures. This paper will delve into all three types of microcultures; it will look at Vietnamese, Jewish, and Vegan cultures and compare them to mainstream Canadian culture. The subsequent comparative analysis aims at finding differences in an attempt to better understand and communicate more effectively, by clarifying the common misunderstandings that arise when communicating with different microcultures, whether in business or everyday life. Vietnamese Background/History/Evolution Representing one of the largest non-European sub-cultures in Canada, the Vietnamese community ranks 5th in terms of size and comprises just over 150,000 individuals. Concentrated in metropolitan areas, close to 60% of the population resides in Toronto, Montreal, Vancouver or Calgary (Statistics Canada see Appendix B). Despite currently being a sizable group, this sub-culture was virtually non-existent prior to the Vietnamese war that took place between 1964 and 1975. It wasn't until the conflict arose...
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...ASSIGNMENT SWOT ANALYSIS IN INVESTMENT TARGETING: The case of Vietnam Instructor: Phạm Thị Mai Khanh (M.A., LL.M.) 1. LƯƠNG VĂN ĐẠT | 1211150027 | 2. BẠCH QUANG TRƯỜNG | 1217150149 | 3. NGUYỄN VĂN TÙNG | 1217150154 | 4. NGUYỄN VĂN TUẤN | 1211150151 | 5. NGUYỄN NHƯ NGUYÊN AN | 1214150006 | 6. NGUYỄN TIẾN ĐẠT | 1217150028 | 7. NGUYỄN MINH ĐỨC | 1214150034 | Hanoi, December 2014 Table of Contents ABSTRACT 4 I.Policy framework 5 1.Strengths 5 2.Opportunity 7 II.Economic factors 9 1.Strengths 9 2.Weaknesses 13 3.Threats 15 III.Business facilitation 19 1.Weaknesses 19 2.Opportunities 21 APPENDIX: Playing roles 23 I.Phase 1 23 II.Phase 2 24 III.Phase 3: Evaluating 31 IV.Phase 4: CONCLUSION 37 REFERENCE 39 list of figures Figure 1: Number of SOEs, 1992-2011 6 Figure 2: Vietnam ranked first for economic activity both sexes aged 25-29 amongst host countries in 2010 10 Figure 3: Monthly Wage Levels in Asia (US$) 15 Figure 4: Vietnam’s Private Sector Minimum Wage, 2008-2014, and 2015-2020 (est) 16 Figure 5: Global competitive Index 17 Figure 6: Main competitors of Vietnam in attracting foreign investment 18 List of tables Table 1: Regulatory Quality – Worldwide governance indicatiors (Percentage Rank (0-100) ). 6 Table 2:Vietnam's workforce by ecnomic component and by economic sectors,1990-2010 10 Table 3: Facts of Vietnam 2012 13 Table 4: Foreign equity ownership indexes (100 =...
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