...Reliance The company wasfounded by the legendary Dhirubhai Ambani (1932-2002), is India's largest private sector enterprise, with businesses in the energy and materials value chain. Group's annual revenues are in excess of US$ 34 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India. Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration - in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production - to be fully integrated along the materials and energy value chain. The Group's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles and retail. Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products. The Group exports products in excess of US$ 20 billion to 108 countries in the world. Major Group Companies are Reliance Industries Limited (including main subsidiaries Reliance Petroleum Limited and Reliance Retail Limited) and Reliance Industrial Infrastructure Limited. Dhirajlal Hirachand Ambani also known as Dhirubhai...
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...chance to present IKEA’s view of child labor on the broadcast. Facing the crisis directly rather than escaping the problem is a smart way to solve the crisis. She should use this broadcast to transfer anti child labor message to the public for IKEA and defeat the accusing from the German media face to face. Especially after inspecting India, Nepal and Pakistan, Barner grabbed first hand information to reveal how deep this socioeconomic problem embeds in these countries. She also should announce all the efforts IKEA makes on this issue, such as an anti child labor clause in the supply contract, a third party monitor system to child labor practices at the suppliers in India and Pakistan, and an action of joining the Regmark to deal with the child labor problem on products from India. 2. Barner should stop the business with Rangan Exports according to the anti child labor clause in the contract. This action will be a strong symbol to clarify IKEA’s stand on the child labor issue. It will help IKEA win trusts from the public. Learning from the incidence happened in 1980s, which caused IKEA lost 20% business in Denmark, IKEA should realize how important a positive publicity is to IKEA’s business. A positive social image is the foundation of companies dealing with B2C business. On the other hand, stopping contract with Rangan Exports is also a serious example to educate the other suppliers in India or other countries to focus on the issue of child labor and anti child...
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...affected by the current global crisis? How is it dealing with the situation? Be sure to address the monetary and fiscal policy of the government and the rescue package (if any) implemented by the government. This paper describes how government of India and RBI (Reserve bank of India, equivalent to Fed Reserve in US) tackled aftermath of global financial crisis in India. Effects of Global crisis Aftermath of Financial crisis was more prominent during 2008. As the global financial crisis began unfolding in the first nine months of 2008, foreign institutional investors pulled out close to $10 billion from India, dragging the capital market down with it. The liquidity crisis, coupled with the credit squeeze and a weak currency, hurt various sectors. Banks have reined in retail financing, affecting home and auto loans. Car loans account for 70% of consumer auto purchases now, down from 85% a year ago. Meanwhile, consumers are deferring other purchases while financiers have been logging a drop in loan disbursal rates At that time the Bombay Stock Exchange Index, or Sensex, tumbled 6% to a two-year low. For the first time in five years, the central bank cut the cash reserve ratio, the amount of funds that banks have to keep with the Reserve Bank of India by 50 basis points, to 8.5%, on Oct. 6, 2008. The same evening, the Securities & Exchange Commission of India eased some restrictions on foreign portfolio investors—such as registering in India before buying shares and limits...
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...Coca-Cola India Teaching Notes Introduction The Coca-Cola India case offers students a unique opportunity to look inside a crisis for one of the world’s most important brands as it occurs inside a developing nation. The case focuses specifically on issues related to brand, reputation, and Corporate Social Responsibility (CSR), and the intersection of all three. History reveals that companies with the strongest brands, most proactive policies of social responsibility, and deepest relationships with their consumers are the most attractive targets for NGO attacks. The very assets that define these leading companies provide the fodder NGOs are looking for to further their agendas. Global Exchange’s attacks on Starbucks over fair-trade coffee and against Nike over sweatshops in Asia, like the Center for Science and Environment’s (CSE) attack on Coca-Cola India, are all examples of NGOs using companies’ powerful reputations against them. Being an attractive target, however, need not imply vulnerability. Organizations and their leadership teams need to start thinking systematically, proactively, and strategically about their reputational risk from crises concerning CSR (corporate social responsibility) and take actions to mitigate these risks before they become reality. The CSE’s allegations of pesticide-contaminated Coke and Coca-Cola India’s response provide an important example of the world’s most important brand under attack and the steps taken in the aftermath...
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...effective global management cadre. The seventh edition has been revised to reflect current research, current events and global developments, and includes company examples from the popular press. In Chapter 1, we introduce trends and developments facing international managers and then expand those topics in the context of the subsequent chapters. For example, we discuss developments in globalization and its growing nationalist backlash— in particular resulting from the global financial crisis. We discuss the effects on global business of the rapidly growing economies of China and India and other emerging economies such as those in Africa, and the expansion of the EU; the globalization of human capital; and the esca- lating effects of Information Technology and the global spread of e-business. We follow these trends and their effects on the role of the international manager throughout the book. For exam- ple, in Chapter 6 we focus further on strategies for emerging markets, while also dealing with changing strategies to respond to economic decline around the world and an increasing level of nationalism in some industries; we have a section on “Using E-Business for Global Expansion” as well as discussing “born global” companies. In Chapter 7, we added a section on strategies for SMEs and a new section on “Value Creation in Alliances.” We have condensed some research material in Chapter 3, while adding a new cultural profile on Latin America and expanded the one on Germany...
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...harmonize all nations by interchanging knowledge of societies, markets, transportations, technology, and various cultural aspects, in hope to create global stability and homogeneity of regulations for a standardized world. The subject of focus in this writing is attentive to economic globalization and the International Monetary Fund (IMF). The IMF was first introduced, along with the World Bank, (these two collectively known as the international financial institutions) towards the end of World War II, in 1944, as an attempt to defend the world from facing another financial crisis such that of the Great Depression (1930) and revive the damages caused by the war. The six goals and guideline principles...
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...Global Financial Crisis and Protectionism Table of Contents Title Page Copyright Page Dedication PREFACE TO THE 10TH ANNIVERSARY EDITION Introduction Part I - THE PURPOSE OF LIFE Chapter 1 - THE RIGHT TO HAPPINESS Chapter 2 - THE SOURCES OF HAPPINESS Chapter 3 - TRAINING THE MIND FOR HAPPINESS Chapter 4 - RECLAIMING OUR INNATE STATE OF HAPPINESS Part II - HUMAN WARMTH AND COMPASSION Chapter 5 - A NEW MODEL FOR INTIMACY Chapter 6 - DEEPENING OUR CONNECTION TO OTHERS Chapter 7 - THE VALUE AND BENEFITS OF COMPASSION Part III - TRANSFORMING SUFFERING Chapter 8 - FACING SUFFERING Chapter 9 - SELF-CREATED SUFFERING Chapter 10 - SHIFTING PERSPECTIVE Chapter 11 - FINDING MEANING IN PAIN AND SUFFERING Part IV - OVERCOMING OBSTACLES Chapter 12 - BRINGING ABOUT CHANGE Chapter 13 - DEALING WITH ANGER AND HATRED Chapter 14 - DEALING WITH ANXIETY AND BUILDING SELF-ESTEEM Part V - CLOSING REFLECTIONS ON LIVING A SPIRITUAL LIFE Chapter 15 - BASIC SPIRITUAL VALUES Acknowledgements THE ART OF HAPPINESS BOOK SERIES ABOUT THE AUTHORS RIVERHEAD BOOKS Published by the Penguin Group Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, USA Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario M4P 2Y3, Canada (a division of Pearson Canada Inc.) Penguin Books Ltd, 80 Strand, London WC2R 0RL, England Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books...
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...Economic Reforms in Asia: The Indian Case Study The Asian economy has seen a rapid rise over the past decade with countries such as China, India and South Korea making major headways. China, being the leader of the group, has been largely tipped by many economists to overtake the US as the world’s superpower by 2025. Asian GDP Performance (1997-2005) Source: http://www.treasury.gov.au The success of these nations came on the back of major economic reforms which transformed these sleeping giants into what it is today. China went through a major economic reform in 1979 and soon thereafter success followed. India, followed the same path, but much later than China, and it was not until the turn on the 1990s that India went on the path of economic liberalisation. This paper will focus on the economic reforms that took place in India and its impact on the country in terms of trade and macroeconomics growth and the birth of new economy. A section of this paper will also be comparing the growth of India in comparison to its Chinese counterparts as well as discuss reasoning behind critics who believe liberalisation was not the main contributor to the growth India is achieving today. Pre-Reform Period Post independence, India saw the need to move from an agrarian economy to an industrial one and as such building its competency in crucial sectors of the economy was important. The role of government therefore included economic management...
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...previous years. The reason for this fallout was due to the summer holidays and the time of Ramadan during the past summer (Sambige, 2012). The Dubai faces the challenge, of trying to increase productivity as a result of the scarcity of capital as well as the increased cost, given the global environment (Rowe, 2012). The economic crisis that hit Dubai, deeply affected the DED. The construction and the real estate sectors in the city minimized vastly by 14.7% and 2.6% in 2010, compared to 19.5% and 19.8% in 2009 (Rowe, 2012). Another challenge that the DED is facing this year is the economic slowdown that is occurring in other countries such as Europe, China, India, as well as other GCC countries. There have been issues such as economic crisis in other parts of the world as well as the rise of the Arab Spring in the Middle East. This has affected the partners of the Department of Economic Development. Countries in Europe, as well as India, China and other GCC countries are partnered with the Dubai trade that falls under the DED, and there has been impact and also there is expected impact to occur due to the economic slowdown as a result of economic crisis and the rise of the...
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...Global Financial Crisis Impact and Challenges Shaikh Faisal. Assistant Professor Dr. Rafiq Zakaria Campus Millennium Institute of Management Aurangabad Introduction: The global financial system has undergone a period of unprecedented turmoil. Market confidence dwindled and has remained fragile, leading to the collapse or near-collapse of large, and in some cases systemically important, financial institutions, and calling forth public intervention in the financial system on a scale not seen for decades. The financial system has been severely weakened by mounting losses on impaired and illiquid assets, uncertainty regarding the availability and cost of funding, and further deterioration of loan portfolios as global economic growth slows. Finding a purely private sector resolution of financial market strains has become increasingly difficult, while case-by-case intervention by authorities has not alleviated market concerns. In response, more comprehensive approaches are now being considered or implemented to bring about a more orderly process of deleveraging and to break the adverse feedback loop between the financial system and the global economy. Such a comprehensive approach—if well coordinated among countries—should be sufficient to restore confidence and the proper functioning of markets and avert a more protracted downturn in the global economy. Significant writedowns have already been realized, but more may lie ahead. . . The estimate of aggregate write downs...
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...the Indo-Pakistan protracted conflict / what were the consequences of the Indo-Pakistan conflict? Nuclearisation of conflict is one of the factors that sustained the Indo-pakistan conflict as it raised tensions and created deep hostility between Pakistan and India. Following Pakistan’s defeat to India in the Bangladeshi War of 1971, Pakistan was determined to establish its own nuclear weapons programme due to its strategic vulnerability and long-held animosities towards India and this was accelerated when India conducted its first nuclear detonation in 1974. Although India later declared a moratorium on nuclear testing after the first nuclear testing that lasted for 24 years, it was broken in 1998 with the rise of Hindu hardliners party, Bharatiya Janata (BJP). Casting the Pakistani-supported insurgencies in Kashmir as a crisis of national security, military expenditure was increased with the resumption of nuclear weapon testing such as Pokhran-ll and Kirana-l. Provocative statements such as India adopting a “pro-active” policy in Kashmir to crush insurgencies were also directed at Pakistan as a warning to stop its military campaign against India. In retaliation to India’s moves, Pakistan was convinced that India would launch a preemptive strike to capture Pakistan-occupied-Kashmir and hence directed its resources to nuclear testing of Chagai-l and ll despite the threat of sanctions from the international community. The prospect of a nuclear exchange was then escalated onto...
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... 1. India is located in southern Asia where it shares borders with Pakistan, China, and Burma. The greater part of the country extends into the sea where it divides the Indian Ocean into the Arabian Sea and the Bay of Bengal. India is the 7th largest country in the world, with a geographically diverse land mass that exceeds 2.9 million sq. km. The southern portion is covered by the Deccan plateau while in the northern area the Indo-Gangetic plain reaches from the west coast across to the east and bordered in the north by the Himalayas. The population of India is spread across the Indo-Gangetic plain and along the areas bordering the Arabian Sea. India experiences a selection of differing climates that range from tropical in the south, arid deserts in the west, sub-tropical monsoon climate in the east, and temperate in the north. India has the fourth largest coal reserves in the world, along with an abundance of other valuable resources such as iron ore, manganese and bauxite. 2. The economy of India is developing into and open-market economy, which in recent years has been accelerated by a reduction in government control of foreign trade and investment. Due to a large educated English-speaking population, India has developed a growing export market for IT services and software developers. The remainder of the labour force works in agricultural and manufacturing sectors. In 2010, India’s economy rebounded from the global financial crisis due to strong domestic...
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...| INDIA AND SUBPRIME CRISIS | | INDIA AND SUB-PRIME CRISIS Sub-prime, as the word suggests, is something that is not prime. In the Sub-prime crisis context it simply means lending money to Sub-prime borrowers i.e. lending to people with low or poor credit worthiness. Sub-prime crisis was caused because the lending norms in the USA were very lax. It is joked about in the academic circles that any man who was not on a respirator was given a loan without any regard to his or her creditworthiness. This was brought about by the “Spend yourself out of the post dot com bust recession” policy of the American government at that time. The end result of the Sub-prime crisis is manifesting itself in myriad ways. There are direct and indirect implications not only for the United States but for the entire world. The Sub-prime that was brought upon by the American financial system upon itself is spreading its tentacles around the world. People who were not even remotely connected with the Sub-prime crisis are being adversely affected. National Bureau of Economic Research (NBER) National Bureau of Economic Research (NBER) is the official agency in charge of declaring that the economy is in a state of recession. They define recession as: “significant decline in economic activity lasting more than a few months, which is normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales”. BUSINESS CYCLE The term business cycle (or economic cycle)...
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...foreign currency account, viz., EEFC account, with an authorised dealer in India. Funds held in EEFC account can be utilised for current account transactions and also for approved capital account transactions as specified by the extant Rules/Regulations/ Notifications/ Directives issued by the Government/RBI from time to time. RFC Accounts :- Returning Indians, i.e., those Indians, who were non-residents earlier, and are returning now for permanent stay, are permitted to open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to keep their foreign currency assets. Assets held outside India at the time of return can be credited to such accounts. The foreign exchange (i) received or acquired as gift or inheritance from a person referred to sub-section (4) of section 6 of FEMA,1999 or (ii) referred to in clause (c) of section 9 of the Act or acquired as gift or inheritance there from may also be credited to this account. The funds in RFC account are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment outside India. The facility is also available to residents provided foreign exchange to be credited to such account is received out of certain specified type of funds/accounts. RFC (Domestic) Account:- A person resident in India can open, hold and maintain with an authorized dealer in India, a Resident Foreign Currency (Domestic) Account, out of foreign exchange acquired...
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...India and the Global Economy 14 CHAPTER The big story of the last decade for India has been its arrival on the global scene. The Indian economy had broken free of the low-growth trap from the early 1980s. By the mid-1990s, following the economic reforms of 1991-3, India began to appear as a player of some significance in the global economy. Then, following the East Asian crisis of the late 1990s, and from the first years of the first decade of the 21st century there was no looking back. India’s exports began to climb, its foreign exchange reserves, which for decades had hovered around 5 billion dollars, rose exponentially after the economic reforms and in little more than a decade had risen to 300 billion dollars. Indian corporations that rarely ventured out of India were suddenly investing all over the world and even in some industrialized countries. When, in 2009, the Group of 20 (G-20) was raised to the level of a forum for leaders, India was a significant member of this global policy group. 14.2 The globalization of India has given rise to new opportunities but it has also brought with it new challenges and responsibilities. It means that the global economy can no longer be viewed from a spectator’s standpoint. What happens there has large implications for India. Every time there is a major financial crisis anywhere in the world, there is need to take brace position. And, in turn, the rise and fall of India’s growth rate has an impact on global growth and there...
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