...European Economic Community (EEC). All information about EU: http://en.wikipedia.org/wiki/European_Union The business implication of the EU: http://books.google.com.vn/books?id=73nQYLkj4lIC&pg=PA519&lpg=PA519&dq=eu%27s+effect+on+international+business+law&source=bl&ots=jZi4MvJL_n&sig=UZV5j9RNWCPcvCUyZin5nYd3DHU&hl=vi&ei=jHSbTI3FDo2osQPK8LzVBA&sa=X&oi=book_result&ct=result&resnum=3&ved=0CCEQ6AEwAg#v=onepage&q&f=false Page 518/ Text book: IBL and its environment. The impact of EU on international trade The European Union has had a significant influence upon international trade, especially in respect of the countries that are member states in the Union. However, it has also had an impact on global trade generally. Internally, trading between the member states within the European Union has become less restrictive, because of the laws and regulations passed. Trade barriers between member states have been virtually eliminated and strict regulations have been applied to ensure fair competition for all. It is partially resulting from these moves that countries like those in the Baltic States are clamoring to join the EU. The EU also protects its member states from unfair competition tactics that other nations might use. The economic power of the Union is such that it can act in this way to greater effect than an individual member would have. For example, the voice of the European Union would be more effective against the might of the United States than would be the voice of a country...
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...change that originates at the level of the unit, mainly in terms of the unintended consequences of the interaction between units. Globalization as transference thus implies exchange across existing unit boundaries and between units and system, but it still presupposes that this system as well as the units remains identical with themselves throughout the globalizing process. Pros and Cons There are many pros and cons of globalization, ranging from economic benefits to a freer, more equal labor market. For example, Free Trade reduces the barriers that once stood between nations trading freely with one another. When companies in different nations don’t face any barriers to trade in the form of import or export restrictions, they can engage in free trade. One of the downsides of globalization is the harm it can cause to economies at an early stage of development. The same example of Free Trade forces all countries to compete using an even playing field, which critics claim puts smaller, less developed countries behind their more developed counterparts. Some economists believe that free trade is only possible if industries in developing countries are allowed to grow under a certain level of economic protection. This is known as the Paradox of Free Trade, and it is a core argument among economists. Brazil After the Second World War and until the late 80s, the Brazilian economy was characterized by the imports substitution policy which implied high levels of protection and insignificant...
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...Shop: core purpose 5 5 Balancing act 6 6 Heightened awareness 6 7 Cost Implications 7 8 New Look: Stakeholder’s conflict 8 9 Challenges 8 9.1 Increased responsibility 8 9.2 Daily implementation challenges 8 10 Recommendations 9 11 Conclusion 10 12 Appendix one: The Body Shop 12 13 Appendix two: New Look 14 14 Appendix three: Carroll’s Pyramid 17 15 Appendix four: Schwartz and Caroll Venn diagram 18 16 Appendix five: Ethical Trading Initiative 20 17 Bibliography 21-24 1. Introduction This report identifies the key challenges faced by organisations with a global supply chain in implementing Corporate Social Responsibility (CSR) policies. The Body Shop (appendix 1) and New Look (appendix 2) are UK based companies, with a global trading presence and both depend on a global supply chain for the purchase of their products. In 2013 both companies remain committed to CSR and ethical trading. These companies have been chosen to demonstrate the differences between implementing CSR at start-up stage, and the challenges faced when introducing CSR, specifically within the supply-chain, to an established business. 2. Defining Corporate Social Responsibility (CSR) CSR is a well-debated topic amongst businesses, governments, non-government organisations (NGOs) and academics; and...
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...AFX 5860 Assignment International Studies in Banking & Finance Visit 1: UN Food and Agricultural Organization [pic] Place: Rome Italy Brief Introduction: The Food and Agriculture Organizaiton of the United Nations (FAO) is a special agency of the United Nations that leads international efforts to defeat hunger. FAO acts as a forum where all nations meet equally to negotiate agreements and debate policy, it also a source of knowledge and information which help developed and developing countries in transition modernize and improve agriculture, forestry and fisheries practices and ensure good nutrition for all (FAO, 2010). Rome Italy is head quarters. It has 191 member states as well as Europe Union and the Faroe Islands, which are associated members (FAO, 2010). FAO is composed of 8 different departments, the meeting is conducted by finance division. Relevant Key Points & Issues The fist half of the presentation briefly introduced the FAO’s role as UN’s agency, its structure, business environment and management. FAO’s mandate is contribute to the growth of world economy and to increase the level of nutrition, with the mission of helping build a food secure world. In order to achieve such mandates, they involves 4 activities which are putting information within reach, sharing policy expertise, providing a meeting place for nations and bringing knowledge to the field. It used result- based management which is an approach that integrates strategy, people,...
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...NABI MUHAMMAD SAW AS A ROLE MODEL IN ENTREPRENEURSHIPS SIRAH PROPHET MUHAMMAD IN ENTREPRENEURSHIP Trade is the most sourceful type of income that Allah gives to His ummah . Complying this , Islam has condemned all unclean and unlawful means of making money as wicked and sinful. It also has condemned all profits derived from such means as filthy and unlawful . On the country , it has proclaimed great virtues in seeking one’s livelihood honestly and in engaging oneself cleanly in trade or any profession (Nuradli 2013) . The Prophet Muhammad has said: “ The trader who plies his trade cleanly and honestly will rise in the Hereafter ( in the company of) the Prophets , saints and martrys “ As we know Prophet Muhammad is the last messenger of Allah that bring new era in the development of world civilization and also the success nation leader that bring the glorious Islamic civilization during the next 1000 years and beside the fact above he also known as a successful businessman. Born as an orphan and did not inherit anything, that was the life of the Prophet Muhammad S.A.W. When other kids at his...
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...Roselle Avenue, Cedarhurst, NY 11516, USA E-mail: samfrancis@optonline.net ABSTRACT At the center of the global financial crisis of 2007–2008 was the collapse of American International Group, brought on by extensive unhedged positions in derivatives, such as credit default swaps, and possibly exacerbated by mark-to-market accounting rules. Even though these rules generally produce the most realistic valuations of derivatives, a heated debate broke out over their application in a dislocated market. The foremost concern was that forcing financial institutions to mark down assets to their current market prices actually causes further declines. Regulators largely dismissed such concerns, but acknowledged that the existing standards could use additional clarification and modification. Many scholarly studies have since concurred that the rules should not be replaced, but suggest that additional measures should be taken to avoid their potential procyclical effects. Journal of Derivatives & Hedge Funds (2011) 17, 122–132. doi:10.1057/jdhf.2011.6; published online 9 June 2011 Keywords: mark-to-market; fair value accounting; credit default swaps; derivatives; AIG INTRODUCTION And it came to pass at the end of two full years,...
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...Principle #1: People Face Tradeoffs To get something you want, you have to give up something else you want. Scarce resources. Think of allocating your time or money. Societies face a tradeoff between more consumer goods (low taxes) and more public goods (defense, social programs). Since governments can borrow, there is a tradeoff between consumption for current and future generations. There is sometimes a tradeoff between the environment and jobs. equity: fair treatment efficiency: producing the biggest possible "pie". tradeoff between the two: will you sacrifice to become a doctor if your wealth is taxed? Principle #2: The cost of something is what you give up to get it. example: College education. The benefits are the job opportunities and personal satisfaction, but there are costs besides “out of pocket” costs like tuition and books. Make sure you count the 4 years' lost earnings. (Lebron James made a good choice.) Just count the room and board costs over and above what you would have paid if you didn't go to college. opportunity cost--what you give up in order to obtain the item in question. Principle #3: Rational people think at the margin. A marginal change is a small adjustment to an existing plan of action. [a deriv*****] example: Suppose you are an airline executive deciding whether to sell a standby ticket for $300. The 200 seat plane is nearly, but not quite, sold out, and the total costs for the flight are $100,000, or an average...
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...Bank of America Name Professor’s Name Institution Date How administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy. Securities and Exchange Commission ha s the role of looking after United States investors against possible loss of profits. This is by keeping a reasonable and organized practice that promotes resources markets. The commission necessitates businesses to reveal important information regarding securities that they put up for sale in order for investors to make well-versed decisions. Securities and Exchange Commission forbids purchases of stock without enough finances to pay for them. The commission controls registration and supervision of the securities markets and agents. The commission makes up rules and regulations for solicitation of alternatives. It also provides advice to courts in economic failure matters (Chatain, 2009). Proper management is the only way that can assist in avoiding threats and gambling matters. All organizations need to posses tools that will help in assessment of threats posed because of activities that take place in that organization. In order for an organization to become successful, activities about information on security issues need to be clear. Securities and Exchange Commission has the role of enforcing major economic...
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...advantage | Balance of payments | Balance of trade | Ethnocentrism | Euro | Exchange rate | Exporting | Foreign direct investment | Fair trade | Devaluation | Comparative advantage | Free trade | Importing | Joint venture | Licensing | Protectionism | Multinational corporation | Dumping | Embargo | Economies of scale | Embargo | Quota | Stereotyping | Strategic alliance | Tariff | Trade deficit | Trade surplus | Trading blocs | | | Case Study Whirlpool Summary Nations trade to obtain raw materials and goods that are either unavailable in their own country or too expensive to produce. Trade increases a country’s total output, and offers greater variety and lower prices to consumers. Nations restrict international trade to help their own economies and to protect their domestic companies from competition with foreign rivals. They do this by imposing taxes, surcharges, tariffs, quotas, embargoes, and sanctions on the goods of foreign companies. Groups of nations form trading blocs to protect their own trade interests (EU, ASEAN, NAFTA, and Mercosur). International business activities can include importing, exporting, licensing, franchising, strategic alliances, joint ventures, and foreign direct investment (FDI). Outline I. Fundamentals of International Trade Companies in different countries compete for customers with companies in other countries in our global marketplace. II. Why Nations Trade A. Economies of scale – By producing...
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...NIIT University | Ethics in Finance | | | Aman Sawhney | | | Contents Introduction 1 Why Ethics Matters 1 Ethics and Ethical Dilemma 2 Creating an Ethical Environment 3 Reasons for Unethical Behavior 4 Ethical issues in Finance 4 Financial Statement 5 Fictitious Revenues 5 Off-balance Sheet Financing 5 Hidden Reserves 5 Hostile Takeovers 6 Insider Trading 6 Introduction Ethics in general is concerned with human behavior that is acceptable or "right" and that is not acceptable or "wrong" based on conventional morality. General ethical norms encompass truthfulness, honesty, integrity, respect for others, fairness, and justice. They relate to all aspects of life, including business and finance. Financial ethics is, therefore, a subset of general ethics. Ethical norms are essential for maintaining stability and harmony in social life, where people interact with one another. Recognition of others' needs and aspirations, fairness, and cooperative efforts to deal with common issues are, for example, aspects of social behavior that contribute to social stability. In the process of social evolution, we have developed not only an instinct to care for ourselves but also a conscience to care for others. There may arise situations in which the need to care for ourselves runs into conflict with the need to care for others. In such situations, ethical norms are needed to guide our behavior. As Demsey (1999) puts it: "Ethics represents the attempt...
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...F84T 34: Managing People and Organisations. Outcome 1: Explain the characteristics and purpose of the organisation and it’s environment. 1. Analyse the relationship between organisational goals, objectives & policies and explain their contribution to effective management in the case study. There are four main types of goals: Consumer goals which refer to supplying a product or service that the market/consumer wants. Suzy’s consumer goals were to create gourmet chocolates to a very high standard, attention to detail and offering a unique product is a very important to Suzy as well as specialist chocolates for customer’s requirements. Product goals which refer to supplying an outstanding value proposition compared to other products perhaps due to the likes of quality, design, reliability and novelty. Suzy worked to offer a unique product, novelty and high class chocolates for her customers. She soon built up a reputation for dependability through always delivering orders on time. Operational goals which refer to running the organisation in such a way as to make the best use of management skills, technology and resources. hey joy of Chocolates operational goals are; all staff supported in developing their skills, training for the production staff ensured a high level of expertise. Hafiz holds a personal development review every four months to give feedback; he also uses job rotation to build knowledge further. Encourage a positive culture of staff development...
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...BUSINESS ENVIRONMENT UNIT:1 Introduction Business may be understood as the organized efforts of enterprises to supply consumers with goods and services for a profit. The following essay contains some details about the business environment such as types of organisations, EU rules and regulations policies of the market control. 1.1 Identify the purposes of different types of organisation. 1. Sole traders The sole trader is a common form of business ownership and is found in a wide range of activities such as painter, plumber, cleaner. Business has only one owner who responsible for all the expenses and legal requirements. Difficult to raise finance, also owner has unlimited liability. 2. Partnership Partnership is a business with at least two or more owners up to twenty. Partnerships are particularly common in professional services such as solicitors accountant. Owners enjoy limited liability, share their skills, and work allowing them to raise capital more quickly than individuals. 3.Private Limited Company (LTD) The Company is an artificial person made by law, offers limited liability. The major private limited company’s restrictions are about the shares and shareholders. Shares cannot be sold or transferred to the public. Shareholders enjoy priority against others in buying shares within the company. Example J. Whitaker & Sons Ltd 4 Co-operative The co-operative is a group of people working together, making decisions together to reach common...
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...Modeling Culture in Trade: Uncertainty Avoidance* Gert Jan Hofstede Wageningen University gertjan.hofstede@wur.nl Catholijn M. Jonker Delft University of Technology c.m.jonker@tudelft.nl Tim Verwaart LEI Wageningen UR tim.verwaart@wur.nl Keywords: trade, culture, agents, uncertainty avoidance, negotiation Abstract A model is presented of the way that our cultural attitude towards the unknown influences the decisions we make in trade. Uncertainty avoidance is one of Hofstede’s five cultural dimensions. The paper presents a model of how this dimension affects trade. This influence has been explicated for the decisions regarding trade: partner selection, negotiation behavior, trust, and the interpretation of the trade partner’s behavior. It has been verified in simulations showing that the generic tendencies as attributed to uncertainty avoidance are reflected in the simulation results. Our approach is an example of instantiating generic knowledge on the influences of culture on decision-making in general. INTRODUCTION The international food economy is rapidly changing. Important issues are concentration and globalization, growing information intensity, consumer demands, and social responsibility [Kinsey 2001]. An important issue in current food trade research is the emergence and performance of international supply chain networks [Lazzarini et al. 2001]. Agent-based modeling extends the understanding of processes in society and economy. It enables simulation of the emergence...
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...period, national conventions, and presidential debates, President Barack Obama and Governor Mitt Romney discussed why both are qualified and best fit to become President of the United States. Many topics such as education, foreign policy issues, health care, and economy and trade are elaborated during the campaigning period, the conventions, and the debates. According to multiple media sources such as CNN and Fox News, the 2012 presidential election is in a dead heat. Governor Romney revealed qualities that would make him a good President. Governor Romney’s economic policy is what a fragile America needs and his ability to recognize the danger of the growing debt. Governor Romney possesses great knowledge of the current budget mess and yet has an optimistic view of America’s future. That is the change I want for a better America. A strong education system is essential for a better America. Currently, the education system is in a weakened and unstable state. President Obama’s failures to strengthen the education system and prevent the rising cost in education, has forced the hand of Americans to vote for a better-fit candidate. Both candidates agree that more teachers and a better education system...
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...Executive summary Cash Flow Statement and Disclosure are potentially significant means for management to communicate company’s performance and governance to outside investors. Demand for Cash Flow Statement and disclosure arise from information asymmetry and agency problem between owners and management. The 1st chapter of this report is Introduction. It remain Origin of the project and thesis work, Background of the Report, Objective of the report, General objective, Project objective, Scopes, Methodologies, Data sources, Limitations and Research strategy. The 2nd chapters flash on IAS and BAS, it include History of IAS, Bangladesh Accounting Standard (BAS) Scopes, Current Status of Bangladesh Accounting Standard Data sources, IAS vs. BAS Data collection and IAS 1 Presentation of Financial Statement. The 3rd chapter of this report is Overview of Cash Flow Statement. It includes what is cash flow statement, Objective of cash flow statement, Structure of the Cash Flow Statement, Presentation of a Cash Flow Statement and History of IAS-7. In 4th chapter contains the analysis and findings about some selected companies in Bangladesh which includes Pharmaceuticals industry, Bank Industry, Leasing industry, Textiles industry, Food & beverage industry. And, final chapter of this report contains some finding and recommendations are given to touch the landmark of quality cash flow statement and some similarities & dissimilarities and note disclosure practices. Introduction...
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