...Introduction 3 Methodology 4 Background 4 Dimensions of culture 5 Case one: Sweden 6 Sweden and its business culture 6 Swedes differ from the general view on culture 6 Case study: Slussen 6 Case two: Jordan 7 About Jordan 7 Business Culture in Jordan 8 Case study: Casino Project in Dead Sea 8 Consequences of stopping the project 9 Conclusion 9 References 10 Abstract Along with the huge trend toward globalization, the world economic get more united. Still there are several obstacles slow down this trend, or it seems to be that. One of these obstacles is the culture. Through the following discussion, the main idea is to show that culture is not an obstacle; rather that globalization should deal with it as a key customer. Moreover, nations, countries, states, and people should change their vision to start deal with globalization as a project not as a goal. This project should have several goals. These goals should be in line with customers’ requirements. Therefore, the customer who is the local culture will accept and support this project. Introduction Culture is an umbrella term for patterns of thoughts, emotions, and ways to act which mankind lives by. Everywhere we go outside our own land border one would face a new culture that somehow differs in a way from the one used to, regardless if it concerns a neighboring country or one far away. When it comes to establishing businesses in new places the phenomenon of psychic distance says that firms are more likely...
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...9-709-015 REV: OCTOBER 14, 2010 ARTHUR A. DAEMMRICH BENJAMIN KRAMARZ De enmark Globa k: alizatio and the We on elfare S State On April 5, 200 Lars Løkk Rasmussen was named prime mini n 09, ke n d ister of Denm mark followin the ng appoi intment of An nders Fogh R Rasmussen, p prime ministe since 2001, as secretary general of N er NATO. Thoug not related Lars Løkke had worked in Anders Fo gh d, e ogh’s governm ment, first as interior and h health minis ster and then as minister of finance. A he formed a new gove As d ernment, Lars Løkke soug to s ght develop a set of long-term economic and social plans that would keep Denma internatio l ark onally competitive, despite its large pu ublic sector an costly welf nd fare spending However, s g. short-term rea action to the worldwide economic do e ownturn dom minated policy discussions. A long-stan y . nding debate about joinin the Eurozo was given new saliency when the European Ce ng one n entral Bank lowered its ra on ate “refin nancing opera ations,” which provided liq h quidity to the Eurozone, ju days befor Lars Løkke took e ust re e office. Denmark was a member of the Europ w r pean Union but had retain its own cu ned urrency, the k krone. Likew wise, plans for rmulated a year ago to ex xpand the Dan nish workforc by looseni labor rule and ce ing es reduc cing welfare benefits had b b become unpop pular as unem mployment in ncreased. An nders Fogh Rasmussen had left a mixed legacy. Denm d d mark benefite from a balanced...
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...Russian Academy of National Economy and Civil Service under the President of the Russian Federation Faculty of Economic and Social Sciences Scandinavian model: advantages and contradictions of a welfare state Anna Olkova 3rd year student 2011 Table of contents Introduction 3 Chapter 1. The role of Scandinavian model in economic theory and practice. 5 1.1. Scandinavian model in civilizational context: incarnation of integralism. 5 1.2. Scandinavia in European economy: comparative analysis 10 1.3. Cultural preconditions for the Scandinavian model formation. 13 Chapter 2. Model performance and competitiveness: distinctive features 16 2.1. The role of public sector in Scandinavian economies 16 2.2. Peculiarities of labour market in Scandinavia 21 2.3. Human capital and innovations: learning economy 26 Chapter 3. Scandinavian model: challenges and threats 33 3.1. Demographic challenge: ageing of population versus public finance 33 3.2. Paradoxes of economic growth in welfare states 36 3.3. The problem of labour disincentives and decommodification. 38 Conclusion 41 Bibliography 43 Introduction In the light of a current trend of moving towards socialization in economy, Scandinavian experience stands out, being probably a unique example of building a highly-socialized and at the same time viable economy. The image of Scandinavian countries appears...
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...International franchising is often regarded as a low-risk foreign market entry strategy. Does this view fully reflect the attraction of international franchising as a market entry mode? International trade is booming and the world is shrinking rapidly due to faster communication, transportation, and financial flows. Today’s business environment is undergoing fundermental transformation as a result of globalization (Kotler & Armstrong, 2001). According to Hodgetts and Luthans (2003), “globalization is the production and distribution of products and services of a homogenous type and quality on a worldwide basis”. According to Root(1994, P.2) the new global economy has created business environment that require companies to look past the traditional thinking of the domestic market, and start looking at business from an international perspective. The main challenge of global companies is to develop managers that are capable of working across cultures and who are competent in international business (Brake, et al. 1995, p. 2). According to Elashmawi (2000), companies that want to react effectively to changes in its global marketplace, has to have a flexible and adoptable corporate culture. Want (2003) explain corporate culture as the collective belief system that people within a company has about their ability to compete in the marketplace. According to Hoffman and Preble (2004), franchising is a well working theory that helps companies adapt to different cultures and business...
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...Chapter 2. Globalization in Question 1. “Pro” vs. “Anti” Globalization: The New Divide For a number of years, the question of economic globalization—i.e., the interdependence of national systems of production and exchange and the ―financialization‖ of the world (revealed by the American subprime crisis in 2007)—has polarized public opinion. The problems stemming from economic globalization dominate the news: the outsourcing production in search of cheaper labor costs; the decreasing efficiency of national juridical and fiscal regulation; the waning of the very idea of sovereignty; the growing constraints within which politicians can act; the emergence of a small class of the immensely rich alongside the billions of poor; the rise of new financial actors—pension funds, hedge funds, and sovereign wealth funds—capable of destabilizing or seizing control of entire realms of the economy; and the emergence of China and India as new global economic actors, as their companies storm the industrial bastions of the United States and Europe. Should one be for or against globalization? Can we turn our backs on globalization, and return to national or regional systems of production and exchange that are autonomous, even autarkic? Is the large cosmopolitan corporation the new leviathan—a monster that must be slain—or a force for human progress? It is tempting to reduce the debate over the economy of the twenty-first century to a simple alternative: being for or against globalization. Yet in...
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...drink the booze and settle the deal! A study of intercultural differences in China from a Swedish B2B perspective Authors: Nathalie Svedberg Tim Svensson Subject: Bachelor thesis Business administration Supervisor: Examiner: Level: Richard Owusu Soniya Billore Bachelor degree 27th May, 2014 1 Course code: 2FE50E Date: Svedberg & Svensson (2014); Eat the food, drink the booze and settle the deal! Abstract Background: China is today regarded as Sweden’s most important business partner in Asia. Even if there are cultural differences between Sweden and China the intercultural distance has successively decreased. One of the reasons is the globalisation. Another reason is the consecutive development of Swedish-Chinese relations. The interpretation from common understanding has increased the level of trade between the nations. There is an on-going development of business co-operation between Sweden and China. The Purpose: This Bachelor Thesis will examine the differences between the SwedishChinese business culture and how the cultural differences affect the Swedish B2B in China. The purpose is formulated by the basis of our main research questions; “How do Swedish B2B companies perceive the cultural differences between the Swedish and Chinese way of doing business?“ and “how do Swedish companies operating in China deal with business cultural diversity in China?” Theoretical Framework: The basis of our Bachelor Thesis examines the theories within cultural...
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...A MARKETING CASE STUDY ON AXIS COMMUNICATIONS BY JOHN OLUGBENGA ADEGBOYE 08032004784 TABLE OF CONTENTS 1. INTRODUCTION……………………………………………………………………………………………………….3 2. SITUATION ANALYSIS………………………………………………………………………………………………..4 3.1 External Analysis.....................................................................................................4 3.2 Internal Analysis......................................................................................................8 3.3 SWOT Analysis.........................................................................................................9 3. 3.1 The New Product...................................................................................................12 3.2 Marketing Objectives.............................................................................................12 4. MARKETING PLAN........................................................................................................14 4.1 Market Segmentation.............................................................................................14 4.2 Target Market.........................................................................................................17 4.3 Positioning and Differentiation..............................................................................17 4.4 Marketing Mix........................................
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...Future Advertising Trends MKT 447 Future Advertising Trends Advertising is an aspect of marketing that is extremely volatile to new trends and technology updates. Because, of its trendy nature it is extremely important for advertising agencies and even companies to be aware of the trends and future trends of advertising. There are three key components that really drive trends in advertising the first is social changes, the second is globalization and legislation, the final component is new technology and means of advertising. While there are many other factors that drive trends in advertising these three components always play a critical role in the face of advertising. Social Changes Social changes have a very significant impact on the advertising world. The government non profit companies and private organizations often seek tackle social issues such as obesity, drinking, drugs, climate change and so on. These social issues cause a shift in the perception on consumers about certain products and companies. The Ad Council is a non profit organization that distributes public service announcements on behalf of various sponsors, has mission statement regarding the impacts of social change. “The Ad Council has endeavored to improve the lives of all Americans since first creating the category of public service advertising in 1942. From our earliest efforts including "Loose Lips Sink Ships" to the more recent "I am an American," Ad Council PSAs have been raising awareness...
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...ing3/24/2014 A Marketing Case Study on Axis Communications A MARKETING CASE STUDY ON AXIS COMMUNICATIONS BY JOHN OLUGBENGA ADEGBOYE 08032004784 TABLE OF CONTENTS 1. INTRODUCTION……………………………………………………………………………………………………….3 2. SITUATION ANALYSIS………………………………………………………………………………………………..4 3.1 External Analysis.....................................................................................................4 3.2 Internal Analysis......................................................................................................8 3.3 SWOT Analysis.........................................................................................................9 3. 3.1 The New Product...................................................................................................12 3.2 Marketing Objectives.............................................................................................12 4. MARKETING PLAN........................................................................................................14 4.1 Market Segmentation.............................................................................................14 4.2 Target Market.........................................................................................................17 4.3 Positioning and Differentiation..............................................................................17 4.4 Marketing Mix...................................................................................................
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...Michael Porter’s theory on National Competitive Advantage, is the best theory to utilize when an internationalising firm wants to select one country over another for new entry The globalization has become a ubiquitous and potent symbol of the age since the early 1980s. The term globalization was used to describe strengthening interactions of people from various countries, which resulted from the emergency of numerous new technologies (Daniel, Radenbaugh & Sullivan, 2002). As the popularization of globalization, more firms prefer to enter the emerging markets, like China, to search for the higher return. However, resulted from the studies segment, there is not an exact theory or study can be regarded as guidelines for these internationalizing firms. Overall, Michael Porter’s theory on national completive advantage is a better theory to be adopted by the international firms which want to select a better country for new entry. The dominance of Porter’s theory are its comprehensiveness, the dynamic Diamond theoretical system and analysis form both inductive and deductive sides. Meanwhile, it is at a disadvantage in its assumption. Thus, this essay will explore both sides of Porter’s theory. Porter's model includes four key elements. The Diamond model is depicted as figure 1, where the four forces jointly constitute a firm's global competitiveness in a given industry ( Porter,1990) Source: Porter (1990) The Competitive Advantage of Nations. The first element...
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...particularly in Sweden and China. It is the largest overseas acquisition ever by a Chinese company, which marks a beginning of a new era that the fastest growing China has become a superpower in the world economy. Because this acquisition is such a complex business where two involved companies are so much different, it is of high interest to make a case study of this in the business research area. The thesis begins the study by looking at the basic facts of these two companies: the products, market, finance situation, brand and technology, etc. It was found that these two companies have very little in similarity, but a huge difference in product segment, technology and brand, inter-culture, language, etc. Therefore, there is no immediate cost saving through the integration of two companies and the sharing of the common components, which indicates that the risk of failure of this acquisition is relatively big. However, there do exist some opportunities lying ahead. The most obvious opportunity is the possible rapid expansion in the growing Chinese market as Volvo’s second home market. To be successful in China, Volvo must address several issues: quickly establish its local production in China, develop its own supply chain in China to reduce its cost, get into the list of the government procurement in China, etc. In all these aspects, Geely has good experience and competence, and should give Volvo a lift there. These are the real opportunities for Volvo in the new chapter of its...
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...Introduction Managers in the twenty-first century are being challenged to operate in a complex, interdependent, and dynamic global environment. A discussion on globalization should first begin with a definition. Globalization is a process of international trade, investment among people, organisations and governments from different countries (Chen, 1999). This process has effects on the environment, culture, political systems, and economic development around the world (Deresky, 2008). Due to globalization, the international dimension of management has become a major challenge to countries, institutions and people. International management is becoming more important within the academic setting. International management is a process of developing strategies, designing and operating systems, and working with people around the world to ensure sustained competitive advantage (Sepehri, 2010, as cited in Lecture notes 1). This essay identifies the challenges of operating in different national cultures for international managers by using Hofstede’s theory. In addition, the essay explains international skills and knowledges required by managers to be successful in different countries. Cultural Value Dimensions Culture in a global economy is one of the most important factors in global economy. In international management research, Hofstede defined culture as "…the collective programming of the mind which distinguishes the members of one group or category of people from those of another"...
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...Mashell Chapeyama Uopeople What ways has globalization not worked Globalization has not worked in a number of ways. One reason is how the rules evolved due to globalization. Most of the rules favour developed countries. They leave the poorer countries worse off. Globalization has increased a lot of imbalances. For example instead of funds moving from richer countries to poorer ones the reverse is true. A lot of resources are moving from poor countries to richer ones. There has also been an imbalance on investment in technology. Technology advanced in rich countries. In poorer off countries technology has lagged behind, meaning that richer countries would benefit. Debts of poor countries are a sign that globalization has failed to work. Poor countries get short term loans. The rich countries peg the moneys in hard currency such as GBP or USA$. So when countries accrued interest payable, it is too big if translated into domestic currencies. This means that poor countries get poorer, yet richer countries become even richer. What are the principal causes? The real causes of such imbalances and problems are many. One problem is that of ideas promulgated by IMF and World Bank, through their policies. They give policies that are “one size fit all type.” This means that some countries cannot afford those measures. One underlying issue is that economic globalization has fast-paced political globalization. Economic globalization requires countries to integrate and be interdependent...
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...ANALYSIS OF IKEA BUSINESS by Student’s Name Code + Course Name Professor’s Name University Name City, State Date Analysis Competitive advantage In modern economies finding the best unique business idea is hard since nearly everything someone is doing to make money. Furniture business is quite competitive and expensive especially when one considers quality and low price over everything. Considering the case of IKEA, making right choices matters and that’s why Kamprad knew exactly the power of high quality, low price, and quick delivery. This paper analyzes IKEA success strategy as well as weaknesses to give a clearer overview of its operation. The cost of the product in comparison with that of a competitor in any market matters. IKEA knew exactly how to balance the cost to be ahead in the competition. Kamprad, the founder of IKEA, concentrated on cost minimization in every aspect of his trading. That’s why he considered buying fabric directly from the textile manufacturer in large quantities. This ensured that there was enough material for a long time manufacturing at past price. This was advantageous since it helped him mitigate the effect of inflations and other production hazards like a strike. The result of such strategy was continuity in production and supply of furniture at a predictable and fair price. This contributed to the fact that IKEA products were 30-50% less than those of competitors. This clearly shows the importance of using high volume...
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...Bachelor of Commerce Best Business Research Papers | September 2008 | Volume 1 Faculty of Business University of Victoria, BSS Office, Room 283 PO Box 1700 STN CSC Victoria BC V8W 2Y2 Canada Phone (250) 472-4728 Fax (250) 721-7066 | www.business.uvic.ca Seeing new horizons. September 2008 | Volume 1 Bachelor of Commerce Best Business Research Papers Bachelor of Commerce Best Business Research Papers Volume 1, September 2008 Table of Contents NOTE FROM THE EDITOR Anthony Goerzen 1 THE DUTCH BUSINESS SYSTEM IN TRANSITION: AN APPLICATION OF WHITLEY’S BUSINESS SYSTEMS APPROACH FOR THE USE OF EXECUTIVES, MANAGERS, AND POLICY MAKERS Eric Brewis 2 SWENSEN’S MUST ENGAGE IN MARKET PENETRATION AND DIVERSIFICATION TO RETAIN ITS LEADING POSITION IN THE THAILAND MARKET Kailee Douglas 13 DISNEYLAND PARIS: EUROPEANIZING A RESORT Amanda Louie 22 IKEA: A STRATEGY FOR SUCCESS Garret Luu 31 COMPULSORY LICENSING IN THAILAND Simran Mann 38 CHANGING POVERTY AND INEQUITY THROUGH BUSINESS Matthew R. Tanner 47 SWEDEN IS A NESTING GROUND FOR YOUNG START-UP ENTREPRENEURS James Whyte 56 Note from the Editor In business today, “globalization” is a key concept with the firms across nations intertwined as never before. With overseas customers, suppliers, operations, and competitors, today’s managers need an international outlook. Therefore, the mission of the University of Victoria’s Bachelor of Commerce program is to...
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