...2016-2017 A. “Business is not only for profit but also for nation-building”. What is Business? An organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. What is Profit? The surplus remaining after total costs are deducted from total revenue, and the basis on which tax is computed and dividend is paid. It is the best known measure of success in an enterprise. Profit is reflected in reduction in liabilities, increase in assets, and/or increase in owners' equity. It furnishes resources for investing in future operations, and its absence may result in the extinction of a company. As an indicator of comparative performance, however, it is less valuable than return on investment (ROI). What is Nation-building? Nation-building is constructing or structuring a national identity using the power of the state. Nation-building aims at the unification of the people within the state so that it remains politically stable and viable in the long run. Nation builders are those members of a state who take the initiative to develop the national community through government programs, including military conscription and national content mass schooling. Nation-building can involve the...
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...– MBA Program) Business is not only for profit but for nation building In many organizations, businesses are built mainly for the purpose of profit generation. Most successful businesses are those who are successful enough to continuously generate sizable profits in their business activities. Business, according to Merriam-Webster Dictionary is a usually commercial or mercantile activity engaged in as means of livelihood. It is the nature of a business to generate profit for it to be sustainable and for it to survive. In many economically successful countries, nation building has always been given much importance. Patriotism has been deeply rooted in the beliefs and culture of these nations. An example of this is Japan. Japan had suffered severely during the Second World War especially after being hit by two atomic bombs. It was considered as one of the most damaged countries after the war. Yet, Japan emerged to be one the strongest economic superpowers today. The success of Japan is mainly attributed to the discipline and patriotism of its populace. The same could be said about South Korea, who was also devastated after the war, yet emerged to be one of the economic powers today. Business success and national economic progress has always been a positive correlation. In economic terms, one basis for national progress is increase in the Per Capita Income. As Per Capita Income increases, the buying capacity of the public increases as well, thus also increases economic...
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...Assessment 2: Research Project/Essay Business Ethics, Corporate Social Responsibility, & Globalisation, within the Global Electronics Industry Presented to: Dr Gustavo Guzman 7112IBA Globalisation & Corporate Social Responsibility, G01_2.13A, Griffith Business School, Gold Coast Campus Prepared by Kevin Vohra 2746020 Word Count = October-29-2011 INTRODUCTION The global electronics industry comprises of many partners that make up a complex international supply chain. Due to globalisation, TNCs have set up subsidiaries that operate in under developed foreign countries like Asia. They operate in the areas of manufacturing of components for computers, assembly, contractors, suppliers, software, technical services, and retailers. As per the OECD ICT Industry Outlook, 2008. Total employment for the global electronics industry was estimated at 15 million workers worldwide. Revenues for the top 250 electronic firms were $3.8 trillion, and the top countries exporting ICT goods were the following nations; China, European Union, United States, Korea, Japan. The recorded fasted growing export countries are; Korea, Malaysia, Mexico, Thailand, Eastern Europe (EICC, 2008) . Due to deregulation of markets and the competition in the electronics industry, transnational corporations such as Apple, and HP have set up operations in developing countries in order to profit off of these developing nations. Many TNCs take advantage of such high profit, low wage labour markets and...
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...substantial strategic account and integral part of global marketing, and have focused on global consumers’ important demands. Global vs. Nation Account Management Global account management (GAM) emerged as a plan or process of relationship focusing on future of global client’s major demands, and understands them towards to increasing the return on company’s and stakeholders’ investments. Then companies must gain proper perceive of their customer’s demands, and tailoring their approach according to their customer’s needs (Woodburn & McDonald, 2011, pp.5-7). Nation or domestic account management implies on delivering service or serving the demands of consumers that are located in a nation or region; on the other hand, global account management is refer to delivering services or serves the customer’s demand throughout the world. Accordingly multinational companies needs to adopt larger accounts based on their multiple locations around the world while domestic or nations companies doesn’t needs to (Honeycutt et al, 2003, p.102). Then it is obvious that GAM’ faces larger and more sophisticated challenges, and in compare to domestic account management needs a greater degree of involvement, and an advanced level of ability for companies to co-ordinate at multiple organizational levels and across the country markets where they operating business. The Key Role of Relationship Regarding the second part of the question, according to my experiences and research, after extensive consideration...
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...are thus also the primary beneficiaries of any potential affirmative action. Subject to inhumane living conditions that could potentially result in fatalities, the residents of Attawapiskat have a moral stake in the well being of their health and lifestyle - no one deserves to conform to such hazardous standards of living. In addition, under the premise of equality and the Canadian Human Rights Act, citizens of the reserve have a right to equitable treatment by the federal government of Canada. This has clearly not been the case as officials from the Department of Aboriginal Affairs have frequented the community in the past, yet have neglected to recognize the crisis until recently. Furthermore, considering that the community privately owns its land, inhabitants are legally entitled to compensation from De Beers Canada, as the Victor mine is situated on Attawapiskat land. Finally, the community of Attawapiskat has a financial stake in government and corporate (De Beers) intervention, as they desire a certain level of economic support. In terms of stakeholder claims, the community is a highly legitimate stakeholder as their desire for higher standards of living are justified by society’s expectations that people should not have to endure such hardship. In addition, as evident by Chief Theresa Spence declaring an emergency housing crisis, this is a highly urgent matter for the Attawapiskat community. Assembly of First Nations: The aim of the Assembly of First Nations (AFN) is...
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...strategies to maximize improvements in human and environmental well-being, rather than maximizing profits for external shareholders. Social enterprises can be structured as a for-profit or non-profit, and may take the form of a co-operative, mutual organization, a disregarded entity, a social business, or a charity organization Many commercial enterprises would consider themselves to have social objectives, but commitment to these objectives is motivated by the perception that such commitment will ultimately make the enterprise more financially valuable. Social enterprises differ in that, inversely, they do not aim to offer any benefit to their investors, except where they believe that doing so will ultimately further their capacity to realize their social and environmental goals. The term has a mixed and contested heritage due to its philanthropic roots in the US, and cooperative roots in the UK, EU and Asia. In the US, the term is associated with 'doing charity by doing trade', rather than 'doing charity while doing trade'. In other countries, there is a much stronger emphasis on community organizing, democratic control of capital and mutual principles, rather than philanthropy. In recent years, there has been a rise in the concept of social purpose businesses which pursue social responsibility directly, or raise funds for charitable projects. Many entrepreneurs, whilst running a profit focused enterprise that they own, will make charitable gestures through the enterprise, expecting...
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...Man has worked hard to improve technology consistently to do various tasks fast and effectively. Many nations have succeeded in building great infrastructure and achieve stupendous progress due to developing of advanced technology before the other nations. Today, every nation strives to get the latest technology for the benefit of its citizens. Technological progress is vital in the fields of business, education as well as health care. Technological advancement has helped to introduce many positive changes in the educational sector. New methods of learning and teaching have made the process simple and more interesting. Computer technology in schools and colleges has helped explain subjects properly and in detail and this has reflected in the overall performance of the students. The Internet technology has been a revolution for the educational sector as it is an ocean of information. Students can search for the concepts which they learn in the books on the Internet and find out more information on the same. This will increase the depth of their knowledge. Distance learning programs have become possible only because of the Internet. Students who cannot attend colleges due to financial reasons or sue to traveling problems can sit at home and study using the online learning methods. Many examinations these days are conducted online which has helped bring in more transparency in the scoring system and complete the tests quickly. The slide shows meant especially for students, are...
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...1. In oligopoly, each firm is acutely aware of the production and marketing decisions of all competitors and carefully considers the potential competitive reactions in all decisions. Discuss whether firms in other market structures consider the potential reaction of competitors when making important marketing decisions. In other structures firms do not consider the reactions of rivals. A monopoly is a single firm structure. In monopolistically and perfectly competitive markets the firms are independent of each other by assumption. In these structures, the number of firms is large and there is no interdependence among firms. Each firm takes its own individual decision on pricing and output, irrespective of its rivals actions and decisions. 2. Part of the debate among economists on US airline deregulation in the 1978 involved the theory of contestable markets. List the four characteristics of contestable markets and evaluate how well airline markets meet these criteria. A contestable market in one in which there are a few firms, but the threat of new entrants, makes them behave competitively rather than monopolistically. 4 conditions: • Ease of entry: This is the most important requirement. There is total freedom of entry into and exit from the market, the barriers to entry or exit are non-existent or very low in reality. There must be no government rule/ technical constraints on new firms. • Knowledge: As with the perfectly competitive market, it is assumed that...
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...a bust in others all due to economic conditions in different nations. Four years after tow of Detroit Michigan’s big three went into bankruptcy American car makers are going “full throttle” with sales in August hitting an annual rate that if substantiated can take them back over 16 million and that is a rate that was last hit before the economic crisis and 80% higher than 2009 when GM and Chrysler went into bankruptcy. The opposite is happening in Europe being in its sixth year slump now and with a weak economy, high petroleum prices and an aging population being weighing factors on mass market car makers. This has led to cost cutting and over capacity for European car makers. This seems to be a trend worldwide as well as car makers are depending on there luxury brands to make them profitable. Tata has seen a profit due to Jaguar and Land Rover surging there net sales up 71% to 566 million dollars and raising revenues 31% to 568.82 billion rupees. This came dispute as the company said “a weak operating environment in the India business which was more than offset by increasing wholesale volumes and richer product and market mixes at JLR”. This is similar to Renault depending on Nissan and sales of cars produced in low cost factories in Romania to cover domestic losses. Mercedes and BMW are generating healthy profits but Volkswagen despite having a leading European market share relies on Audi for 60% of there profits. This is the same story for Tata as Mahantesh Sabarad, an analyst...
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...population is constantly increasing but the creation of new jobs does not run parallel to it. Jobs are very scarce in the nation. This has caused the rates of unemployment to increase gradually. This paper focuses on what the U.S government can do to create jobs. An increase in government spending will definitely translate to creation of more job opportunities for the growing work force. This is mainly because as the government increases its projects across the states, it will need more people to work on the projects. The government requires a lot of labor on its projects and therefore, an increase in the government spending will create a labor deficit that will be filled in by a good number of the currently unemployed people. The government can attain this by expanding firms that will need more raw material suppliers and laborers. The initial expansion plan would also create jobs during the construction process. Building and maintenance of infrastructure can also create jobs for the people (Boushey & Ettlinger, 2011). The government can also indirectly create jobs through enticing the business persons to invest more. This can be achieved through giving incentives like tax cuts or reducing the cost of conducting business for the new enterprises. Constructing better infrastructure for the convenience of the manufacturing industries will reduce the cost of doing business. The funds...
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...1 Analysis of Vision and Mission Strategy Management Contents 1.ICICI BANK ............................................................................................................................................4 Analysis of Vision: ...............................................................................................................................4 2.BANK OF INDIA.....................................................................................................................................4 Analysis of Mission..............................................................................................................................4 3.CANARA BANK......................................................................................................................................4 Analysis of Vision ................................................................................................................................4 Analysis of Mission..............................................................................................................................4 4.GAIL......................................................................................................................................................5 Analysis of Vision ................................................................................................................................5 5.Infosys................................
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...Big Business Andrew Carnegie, born in Scotland in 1835, settled in Pennsylvania with his family at the age of 13. He started off working in a cotton factory, later moving to a telegraph company. Here he met Thomas Scott who hired him as a secretary and telegrapher. Scott was a superintendent of the Pennsylvania Railroad’s Pittsburgh division. When Scott moved up to become general superintendent for the railroad, Carnegie, at the age of 24, took over his position within the Pittsburgh division. Carnegie worked for the Pennsylvania Railroad for 12 years, leaving in 1865 (Biography.com, 2010). His first steps toward big business were his investments in a sleeping car company and oil. Both investments paid off handsomely (n.d.). Then, in 1864, he turned towards the iron business. He had contracts with the railroad to build new bridges out of iron replacing the existing wooden ones. In 1872, Carnegie learned the Bessemer process which converted iron into steel. Steel was more flexible than iron and lasted longer (PBS, 1999). In 1875 he opened the biggest steel mill in the world. His final step toward being one of the wealthiest men in the nation was expansion. He bought competitor mills and built new ones. By doing this he had control over the industry and could ensure profits at all stages (Davidson, Gienapp, Heyrman, Lytle, Stoff 2006). In 1901, Carnegie sold his business to J.P. Morgan for $480 million (PBS, 1999). The reason Carnegie did so well is because he knew business. He...
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...1. There are five major characteristics of Globalization, as described by the text. The first deals with World trade and output. As Globalization takes hold, many countries across the globe are seeing a marketable increase in trade with other countries, countries that are not necessarily their neighbors. Individual nations are exporting more globally and becoming more active in global markets. Foreign direct investment is also a key factor in Globalization. As the world markets become more and more accessible, many investors are looking outside of their homeland portfolios and investing in foreign markets and business ventures. This leads to another characteristic, the rise of the multinational enterprise. Not only are these investors putting up capital in other countries, they are actively buying and building productive extensions of their homeland enterprises. The 4th element is that of a changing world order, specifically the rise of democracy and free market reform. The decline of communism and closed markets has dramatically affected how the world does business. The last characteristic is the fact that world trade is growing from individual national economies into a closely integrated global economic system. In addition to these characteristics, the text describes two main drivers of globalization. Declining trade and investment barriers, such as reduced tariffs and taxes, and relaxed national investment regulations have substantially opened up worldwide flow...
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...Assignment #1: The Business Environment Mondith Sreng Professor Jane Osburn BUS 100 Introduction to Business 1/22/20122 The role of business in an economy is involved in any type of activity that provides goods, services, or both to consumers in an attempt to earn a profit. Business drives up the standard of living of quality and quantity of goods and services available to a population and contributing to the higher quality of life in which is overall sense of well-being experienced by either an individual or a group. Business also helps raise the standard of living through taxes. However businesses do not only provide the products and services that people acquire, but they as well provide job opportunities that people need to survive nowadays. The evolution of business has changed a lot over the past 200 – 300 years. American businesses were divided into five distinct ears, which created a huge impact in our economy. There were The Industrial Revolution, The Entrepreneurship Era, The Production Era, Marketing Era, and The Relationship Era. The Industrial Revolution was a period of rapid industrialization during the mid-1700s to the mid-1800s. Factories hired a large amount of mediocre workers who worked only on limited number of tasks. The Entrepreneurship Era was during the second half of the 1800s. Where entrepreneurs came about building business empires, they were raising mass amounts of wealth. However many also dominated their markets, which in fact put out...
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...Learning Objectives Define and describe five major components of our economic system Give examples of the relationship between supply and demand and the price of goods and services List several facts that emphasize the importance of individual workers in our economic system Explain government’s role in maintaining a balance between dollars spent for goods and services and the capacity of business to produce them View the world of work as global rather than local concerned with the way a society uses its productive resources to fulfill the needs (necessities) and wants (luxuries) of each member. The word economics comes from the ancient Greek word oikonomikos, meaning “the management of a household.” E conomics is the name of the social science 337 Enrich Your Vocabulary In reading this chapter and doing the exercises, you will learn the following important terms: comparative advantage competition consumer demand economics economic system Federal Reserve System free enterprise system gross domestic product industrial products limited resources market opportunity cost profit scarcity services supply technology Vocabulary You can use the “Developing Your Vocabulary” worksheet in the Chapter 15 file of the Preparing for Career Success Instructor’s CDROM, Third Edition as a pretest or as a reteaching worksheet. Cooperative Learning Assign a group of students to decorate a bulletin board with the title “Economics and Work.” KEY TO SUCCESS Understanding our economic...
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