...States [1]. The four EFTA States are world leaders in several sectors that is vital to the global economy are Liechtenstein, Switzerland, Iceland, and Norway. Liechtenstein, despite its small size and limited resources, is highly industrialized and specialized in capital-intensive and R&D driven technology and products. The Swiss economy is based on high quality products that are competitive in the world markets. Switzerland is a world leader in pharmaceuticals, biotechnology, machinery, watchmaking, banking and insurance. Iceland’s economy benefits from renewable natural resources, in particular rich fishing grounds and hydro and geothermal power. Whilst still relying heavily on fishing and fish processing, the Icelandic economy has increasingly diversified into other industries and services. Norway is abundant in natural resources also contribute significantly to economic strength. Key activities relate to petroleum exploration and production, hydroelectric power and fisheries. Important services sectors include maritime transport, telecommunication and energy-related services [2]. Knowing the highlights of EFTA States, the following discussions and analyses will serve as your guide and basis in doing business with them. This is to discuss how the industry and the company be affected by the various global environment: Economic, Cultural-Social, PoliticalLegal and Financial. I. Economic Environment The Washington, D.C. complies a survey of more than 175 countries ranked...
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...Quantification, Weighting and Ranking 6 Table 2 7 Internal Analysis 8 Overview of Iceland 8 Marketing Factors 8 Financial analysis 8 Manufacturing factors 9 Iceland’s current resources and competencies 10 Table 3 10 The Boston Consulting Group matrix (BCG) matrix 10 Figure 1 10 External Analysis 10 PESTLE 11 Competitive Environment 12 Retailers 12 Table 4 12 Frozen Food Manufacturers 12 Table 5 13 Customer Trends 13 Target Market 14 Porter’s Five Forces 14 Figure 2 14 Lotte Group Analysis 14 SWOT 15 Strengths and Weaknesses 15 Opportunities 16 Threats 16 Objectives and Market Entry Strategy 16 Objective 1(Short term: 12 months) 17 Objective 2 (Medium Term: 1-3 years) 17 Objective 3 (Long Term: 3-5 years): 18 Internationalisation objectives 18 Marketing Mix 19 Product 19 Price 21 Table 6 21 Table 7 21 Promotion 22 Place 23 People, processes and physical evidence 24 Implementation 25 Table 8 26 Figure 3 26 Figure 4 27 Control 27 Figure 5 28 Bibliography 28 Executive Summary This report has been produced to provide Iceland Foods Group with a strategy to further internationalise. After investigation of potential countries it was decided that South Korea was the best market to enter. Analysis has been undertaken into both the external and internal environments with regards to South Korea and Iceland. Research into the frozen food sector in South Korea has shown the market is growing .The...
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...fakultetsgränserna. Vi samarbetar med alla institutioner vid Stockholms universitet som bedriver miljörelaterad forskning. CTM utvecklar tvärvetenskapliga utbildningar, samordnar större forskningsprojekt och informerar omvärlden om universitetets miljöforskning. Centrum för tvärvetenskaplig miljöforskning hette tidigare Centrum för naturresurs- och miljöforskning, CNM, och har funnits vid Stockholms universitet sedan 1990. Hemsida: www.ctm.su.se STOCKHOLM UNIVERSITY Centre for Transdisciplinary Environmental Research Sustainable Enterprising Master’s Thesis (20p) CORPORATE SOCIAL RESPONSIBILITY IN THE HOTEL INDUSTRY: A CROSS CULTURAL PERSPECTIVE TERESA NORD Academic Advisor: Hans Rämö Stockholm University School of Business Master’s Thesis (20p), Fall 2006, Stockholm University ABSTRACT Attention to business ethics in varying environmental, economic and cultural contexts has become increasingly important as enterprises expand globally. This thesis attempts to determine the impact of culture and local context on CSR performance by evaluating and comparing CSR performance across hotel groups in culturally and geographically diverse regions. Data on indicators for waste production, water consumption, energy use, equal employment opportunity, employee training and employee organization were collected...
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...Explaining Student Performance Evidence from the international PISA, TIMSS and PIRLS surveys Final Report November 2005 Explaining Student Performance Evidence from the international PISA, TIMSS and PIRLS surveys Jens Henrik Haahr with Thomas Kibak Nielsen, Martin Eggert Hansen and Søren Teglgaard Jakobsen www.danishtechnology.dk jens.henrik.haahr@teknologisk.dk This study was carried out on behalf of the European Commission’s Directorate-General for Education and Culture. Views expressed represent exclusively the positions of the authors and do not necessarily correspond to those of the European Commission. Contents Index 1. .......................................................................................................................... 2 2. 3. 4. Executive Summary................................................................................................. 4 1.1. Education Systems and Basic Skills................................................................. 4 1.2. Student Background Characteristics and Basic Skills.................................... 10 1.3. School Characteristics and Basic Skills ......................................................... 13 1.4. Individual Student Characteristics and Basic Skills....................................... 17 1.5. New Analysis and Data Collection Activities................................................ 19 Introduction........................................................................................
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...Explaining Student Performance Evidence from the international PISA, TIMSS and PIRLS surveys Final Report November 2005 Explaining Student Performance Evidence from the international PISA, TIMSS and PIRLS surveys Jens Henrik Haahr with Thomas Kibak Nielsen, Martin Eggert Hansen and Søren Teglgaard Jakobsen www.danishtechnology.dk jens.henrik.haahr@teknologisk.dk This study was carried out on behalf of the European Commission’s Directorate-General for Education and Culture. Views expressed represent exclusively the positions of the authors and do not necessarily correspond to those of the European Commission. Contents Index 1. .......................................................................................................................... 2 2. 3. 4. Executive Summary................................................................................................. 4 1.1. Education Systems and Basic Skills................................................................. 4 1.2. Student Background Characteristics and Basic Skills.................................... 10 1.3. School Characteristics and Basic Skills ......................................................... 13 1.4. Individual Student Characteristics and Basic Skills....................................... 17 1.5. New Analysis and Data Collection Activities................................................ 19 Introduction....................................................................
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...and Viking heritage: Foundation of the Swedish culure 3 18th Century: the Enlightenment: a new view of the nation 3 19th Century: National Romanticism 3 20th century: Contemporary History 4 The dissolution of the Union 4 The First World War 4 Wellfare system establishment 4 The Second World War 4 The Cold War 5 European Union and Immigration 5 How Sweden Becam Swedish 6 Welfare State 6 Cultural Policy and Propaganda 7 Multi-culturalism 8 Gender Equality 9 Conclusion 11 Introduction The purpose of this essay is to try to understand the Scandinavian culture. To do this, we have to clarify some concepts, like National Identity, Nationalism, culture and Swedishness, in order to understand the connection between those, and finally expose more easely the following arguments. Those concepts can be seen as pretty dimness and deep, so we have to treat those with caution. In fact, if we start with Nationalism, many theorists tried to counteract the three paradoxes this concept bring : objective modernity vs. subjective antiquity, socio-cultural concept vs. concrete manifestations and 'political' power vs. philosophical poverty. Therefore, we see that Nationalism involve multiple frameworks, like history, culture, social or politic. Ernest Gellner reached to mix them and saw Nationalism like a 'theory of political legitimacy, wich requires that ethnic boundaries should not cut across political onces'. Benedict Anderson also add national identity...
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...and human life -Power maintained by suppression of opposition -Dominant ideals include media censorship, political representation, denial of rights, and civil liberties An example is People’s Republic of China, North Korea, Burma, Cuba, Vietnam, Libya and Saudi Arabia as well as Kuwait. B) Democracy=a system of government in which all the people of a state or polity ... are involved in making decisions about its affairs, typically by voting to elect representatives to a parliament or similar assembly -Democratic society cannot exist without at least a two-party system -Once elected, representative is held accountable to electorate for actions (which limits power of government) Examples include -Germany, Ghana, Grenada, Greece, Hungary, Iceland, India, Ireland, Israel, Italy, Jamaica, Japan, Kiribati, Latvia, Lithuania C) Dictatorship= A dictatorship occurs when one person has complete control of a nation. Dictators are often associated with brutality, violence and ruthlessness and typically use armed force and fear to keep citizens under control. -Examples include Belarus, Chad, Cuba, Equatorial Guinea, Cameroun, Kazakhstan, Iran D) Monarchy= refers to a "royal family." Considered to be a type of autocracy, a monarchy is similar to a dictatorship minus the violence. Although history is smeared with violent kings, queens, sultans and czars, modern day monarchs are considered benign. Monarchies are labeled absolute or constitutional. -Examples of absolute monarchies include...
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...pattern of their direct investment strategies. Our analysis reveals several important facts. Firstly, most of the outward foreign direct investment (OFDI) is directed in finance, insurance and real estate services for all of the countries. Secondly, by far the majority of investment projects are carried out in Europe and North America which are almost equal in terms of frequency of investments. Thirdly, Icelandic firms use horizontal integration strategies and they diversify risk. Irish firms use lateral integration strategies and diversify risk. Finally, MNCs from Israel tend to diversify risk and use horizontal integration strategies. Keywords: OFDI, MNC, Horizontal integration, Vertical integration, Lateral integration, SMOPEC, Iceland, Ireland, Israel, Introduction “Foreign Direct Investment (FDI) is one of the main engines of growth for national economies. In particular, many small and medium sized countries have grown through promoting and attracting FDI. At the same time FDI enables a country to better integrate in an intensive globalized economic environment and face successfully the...
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...BSA 480 International Business B1-144 Workshop #3 November 10, 2011 European Union David McKeen Chris Deisher Twyla Dillard Brenda Rogers Flecia Williamson European Union 1 Introduction The precursor to the European Union was established after World War II in the late 1940s in an effort to unite the countries of Europe and end the period of wars between neighboring countries. These nations began to officially unite in 1949 with the Council of Europe. In 1950 the creation of the European Coal and Steel Community expanded the cooperation. The six nations involved in this initial treaty were Belgium, France, Germany, Italy, Luxembourg, and the Netherlands. Today these countries are referred to as the "founding members." During the 1950s, the Cold War, protests, and divisions between Eastern and Western Europe showed the need for further European unification. In order to do this, the Treaty of Rome was signed on March 25, 1957, thus creating the European Economic Community and allowing people and products to move throughout Europe. Throughout the decades additional countries joined the community. In order to further unify Europe, the Single European Act was signed in 1987 with the aim of eventually creating a "single market" for trade. Europe was further unified in 1989 with the elimination of the boundary between Eastern and Western Europe - the Berlin Wall. Throughout the 1990s, the "single market" idea allowed easier trade, more citizen...
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...2 LEARNING OBJECTIVES After reading this chapter you should be able to •• describe the basic characteristics of culture and explain how cultural dimensions can be used in global HRM, •• describe how the institutions of society can shape HRM policies and procedures, •• discuss the possibility of the convergence of HRM across countries, •• explain how the heritage of state socialism continues to influence the context of HRM in transition economies, and •• discuss the effects of cultural and institutional context on the HRM role and on employee expectations. 23 24 ESSENTIALS OF INTERNATIONAL HUMAN RESOURCE MANAGEMENT Springtime in Paris As she savored the last bite of her croissant, Martha Pereaux, HR director for C3 Technologies, thought about how she would approach her latest “cross-cultural collision,” as she had come to think of them. In the year since she had moved to Paris from Houston, there had been many, but none quite as bizarre as this one. Martha had taken the big promotion to head up the HR division of the joint venture between Houston-based SuperChem and the French company. C3 developed technology for the oil industry, primarily new types of concrete that formed the barrier wall for offshore oil and gas wells. The joint venture was meant to take on the likes of the giant Schlumberger on its own turf and compete with them for valuable technical staff. Everyone said she was the perfect choice, having grown up in a bilingual family in Canada...
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...Claremont Colleges Scholarship @ Claremont CMC Senior Theses CMC Student Scholarship 2011 The Effect of Culture on the Implementation of International Financial Reporting Standards Mitchell A. Skotarczyk Claremont McKenna College Recommended Citation Skotarczyk, Mitchell A., "The Effect of Culture on the Implementation of International Financial Reporting Standards" (2011). CMC Senior Theses. Paper 165. http://scholarship.claremont.edu/cmc_theses/165 This Open Access Senior Thesis is brought to you by Scholarship@Claremont. It has been accepted for inclusion in this collection by an authorized administrator. For more information, please contact scholarship@cuc.claremont.edu. CLAREMONT McKENNA COLLEGE THE EFFECT OF CULTURE ON THE IMPLEMENTATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS SUBMITTED TO PROFESSOR MARC MASSOUD AND DEAN GREGORY HESS BY MITCHELL SKOTARCZYK FOR SENIOR THESIS SPRING 2011 2 Table of Contents I. Introduction…………………….……………………………………………………………….4 II. Literature Summary………………………………………...………………...….……………..5 III. IFRS……………………...……………………………………………………..……………11 IV. Carve-outs…………………………………………………………………………………....18 V. Culture and Accounting………………………………………………………………………25 VI. Conclusion………………………………………………………………...…………………30 Appendix………………………………………………………………………………………...32 Bibliography……………………………………………………………………………………..37 3 I. Introduction As globalization increases at a blistering pace, more...
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...Euro – Main Points: * The introduction of the Euro implied the beginning of a new era for economic policymaking in Europe, with a new environment calling for new arrangements for economic policy coordination. And the significance of the euro's launch goes far beyond its economic dimension. Its introduction in 1999 was the crowning achievement of a hugely complex political, legal, and technical process. * The level of economic integration between nations is also rising. The most well-known example of this is the European Union (EU). Forms of economic integration * The first level of formal economic integration is known as a free-trade area or agreement (FTA). Under a FTA all members remove tariffs on the products traded with each other, while maintaining their individual tariffs with the rest of the world. One of the issues with this form of integration is that non-member counties will export their products to the member country with the lowest external tariff and then into any of the other member countries with higher external tariffs, this practice is known as transhipment (Appleyard, Field & Cobb, 2006: 376). * The second form of economic integration is known as a customs union (CU). A CU retains all the elements of a FTA but in addition involves the abolishment of their individual external trade policies. This is done by establishing a common external tariff (CET) which removes the possibility of transhipment by non-members. Members of a CU also typically...
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...[1] Yet, the volume of international trade is still less than one would expect from observed differences in factor endowments, tastes and technology between countries (Trefler, 1995). A possible explanation of the missing trade is non-tariff barriers to trade, including transport costs and other costs related to searching for international suppliers or customers, entering into contracts and shipping the goods or services from the domestic producer to the foreign customer. These transaction costs have several dimensions. First, there are the direct monetary outlays on communication, business travel, freight, insurance and legal advice. These are partly determined by the physical and cultural distance between the trading partners, but also the quality of infrastructure and the cost and quality of related services. EXAMPLE A second dimension of transaction costs is time. The proverbial "time is money" suggests a linkage between monetary outlays and the time dimension, but time also plays a role in its own right. This is particularly the case in industries that have adopted just-in-time business practices and have an international supply network. Just-in-time business practices imply that producers have small inventories of intermediate goods and the entire production process would come to a halt if one input was missing. Under such circumstances delays in delivery of intermediate inputs would have a disproportionate impact on the importing firms' total costs.[2] In fact...
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...Lyn Klein Economics for Global Managers Professor Victoria Vernon Module 3 Case Study: European Union 7/3/14 The EU is facing a banking crisis. There are insolvent banks in Ireland and Spain, as well as other nations. They lent out too much money, often against real estate. There were real estate bubbles then the value of real estate fell and borrowers could not always pay back the loans. The Greek banking crisis was caused by the government spending too much and borrowing too much money. The economy collapsed causing the banks to be insolvent. Before the collapse banking was conservative. When a nation has insolvent banks belonging to the Euro zone make that problem much worse. There were silent funs on Greek banks, with capital flight; people are pulling their money out of the Greek banks and sending it elsewhere, making the Greek economy worse. The common currency zone escalates the problems. There are also capital and trade imbalances. Germany is exporting a great deal more than it imports, causing capital flows into Germany. Spain and Greece import more than they export so capital flow is out of the country. They need to become more productive at exporting, which is not always easy. In the 2000’s money flowed into periphery countries, borrowing rates were low and capital inflow brought rising standards of living. By 2010’s money was flowing out of the periphery countries and back into Northern Europe. Periphery economies were starved for investment...
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...CAVUMC05_124-157hr 10/10/07 1:41 PM Page 124 c h a p t e r 5 The Cultural Environment of International Business Learning Objectives In this chapter, you will learn about: 1. The challenge of crossing cultural boundaries 2. The meaning of culture: foundation concepts 3. Why culture matters in international business 4. National, professional, and corporate culture 5. Interpretations of culture 6. Key dimensions of culture 7. Language as a key dimension of culture 8. Culture and contemporary issues 9. Managerial guidelines for crosscultural success > American Football . . . in Europe? There are few things more representative of U.S. culture than American football. It is an extravaganza, complete with exciting halftime shows and peppy cheerleaders. The game exemplifies national pride. The national anthem is played, flags are unfurled, and uniformed players charge up and down the field like an army in the throes of often violent conflict. The teams’ huddles divide the game into small planning sessions for the next play. In the United States, the National Football League (NFL) oversees the sport and, like any successful business, wants to score in new markets. The NFL first tackled Europe in 1991, with plans to establish American football there. After years of failed attempts, NFL Europe emerged as six teams, five of which were based in Germany (such as the Berlin Thunder, the Cologne Centurions, and the Hamburg Sea Devils). Earlier teams established in Spain...
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