...throughout the nation. The company simultaneously provides an easily navigated website to reach all of its client preferences. To maintain a structure as this, a company must have superior management and functionality. There are four basic fundamentals that encompass the management of a successful business such as Best Buy. The traditional functions are planning, organizing, leading, and controlling. These functions are affected by several external and internal factors such as globalization, technology, innovation, diversity, and ethics. Five Common Factors In 2010, Best Buy separated itself as a company into three divisions; the Americas, Asia and Europe. Each division was created with an executive vice-president running each area who would report to the Chief Executive Officer (Ernst & Young Global Limited). When the company planned this out, it created a self-paced region instead of the entire company proceeding as a whole. In other words, Asia can progress at a different pace then the Americas in all aspects. This plan enabled all regions and the Chief Executive Officer (CEO) to use their brains and ideas from clients to develop more efficient procedures based on their input. Feedback Employee and customer feedback is now the best way to acquire information and organize the business’ strategy to achieve its goals. In the past, charts and a team dedicated to administering plans was the ideal way to organize a company. Now most employers utilize the importance of...
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...Outsourcing is affecting the U.S. economy greatly. Outsourcing is taking away jobs from the American people causing a rise in the unemployment rates. Not only is outsourcing taking away jobs, but it is making it harder to find new jobs. Outsourcing is where an American company will send certain jobs or duties to be done in another country. Outsourcing is also the transfer of the management, and also the day by day execution of an entire business function to an external service provider. It is a company’s practice of paying an employee in a small developing country to perform a function or produce a product that could be made by the paying company. Business jobs that are typically outsourced include information technology, human resources, facilities and real estate management, accounting, Customer support and call center functions, like telemarketing, customer services, market research, manufacturing and engineering. Outsourcing has become one of the fastest growing trends in the business world. There are many reasons that a company would elect to use outsourcing. Among them is the fact that it provides an almost immediate opportunity for savings as well as a noted improvement in quality. The main reason why American companies are doing this is to save money. It’s cheaper to have someone form a developing country do the job because a dollar goes a lot further than in the states. One management problem that is causing outsourcing is that companies are looking for ways to cut...
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...allowed the First World to keep up with rising consumption rates while keeping labour costs low. To represent the shift to export production, and to serve firms seeking lower wages and Third World governments seeking capital investment, export processing zones (EPZs) were created. Most EPZs are located in developing countries, and these zones attract employers as a solution to domestic production while also taking advantage of reduced trade barriers set up by the host nation in an attempt to reduce poverty, unemployment, and stimulate their domestic economy. The creation of these EPZs supported the rise of neoliberal globalization and the free market system throughout the latter half of the 20th century, which stated that the private sector would determine state priorities. This paper will examine the rise of EPZs and their connection to neoliberal globalization, as well as their relationship to the debt crisis of the 1980s and the growth of structural adjustment programs. With the Cold War immediately following WWII, countries were divided into a class First, Second, and Third World countries, according to their status in the war. The Third World, also known as the Global South, represented all nations that were not aligned with either the core advanced capitalist countries (First World) or the countries in the Soviet-led bloc (Second World) (Smardon, 2011). These Third World countries were largely economically underdeveloped, and were...
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...countries in political, economic, and cultural ways. The effects of United States imperialism have been positive in countries like Panama because of the ideal of democracy has been spread; however, Puerto Rico might view it differently. Some foreign policies also developed as a result of America’s imperialism. The United States involvement in Panama has been both helpful and beneficial to both countries. United States initially went to Panama to build the Panama Canal because they saw it as vessel to traffic goods to build economic growth using the Atlantic and the Pacific Oceans. It was not that easy for the United States to do so due to Columbia’s involvement with Panama at that time. Panama was owned by Columbia and would not permit America to build much less use a canal in Panama. Panama was not pleased with Columbia ruling their country, so they allowed the United States to help them get from under Columbia’s rule in return for the passageway known today as the Panama Canal. The United States helped Panama escape the Columbian control and stayed over in Panama to build and use the canal. The United States stayed over in Panama until Panama asked for its independence because they feared that they were under too much of America’s control around 1977. Not shortly after America’s leave of absence, the dictators rose to power and Panama asked for America’s help. In 1989, the United States involvement helped overthrow Noriega (a dictator)...
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...Most people already know what the definition of hard power is as such it can be made optional or compulsory. However, in a world dominated by information rather than imitation, there are more ingredients that mark important roles in managing and winning international awareness. The changing nature of power by Joseph S. Nye is an article emphasizing the changing role in the political view and how to take advantage in the new century in which old-fashioned political are not helpful. In the new era, leaders need to have both soft and hard power, including attractiveness, legitimacy and credibility, to be ahead in international affairs. In this article, the author defines power in international settings. In defining power, one cannot measure without knowing the background of the behavior of others. In the modern era, technology has changed the dimension of international power. The traditional authentic politics of the military and economic power have been converted into cyber-dimension based on technology. It has both positive and negative aspects, but it helps spreading nationalism. This trend marks a changing point of view of the role of traditional power. Internet communication has shaped both political dialogues and civilization conflicts. Therefore, countries have to reconsider the power of technology as the changing shift in the interaction between soft and hard power. In defining power, I accept humorously that power is just like love: easier to experience than to define...
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...Reactions to Globalization Xuewu Gu The accession of China to the World Trade Organization (WTO) in November 2001 marked one of the most important steps of the Chinese government towards deepening the integration of the Chinese economy into the world economy and therewith going more deeply into the globalization. This development, however, does not mean that the issue of globalization is not controversial in China. Indeed, the fifteen years since 1986 in which China actually underwent a tremendous negotiation process with the WTO, as well as with its members, have been accompanied by an intense domestic debate about the sense and the meaning of globalization. Even through today, the Chinese membership in the WTO is certainly not inevitable; the globalization debate in China continues, reflecting the fact that the Chinese feel strongly challenged by globalization and are trying to search for ways to deal effectively with it. This paper regards it as its main task to examine systematically the Chinese reactions to globalization. To achieve this goal, the analysis will focus on three questions. Firstly, it will find out the general understanding of globalization by the Chinese elite. The term “general understanding” means in this sense the understanding which most Chinese scholars and politicians seem to share regardless of whether he or she is “pro-globalization” or “anti-globalization”. Secondly, it will try to identify the main strains of the Chinese debate on globalization. In doing...
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...Financial statements should be understandable, relevant, reliable and comparable. Reported assets, liabilities, equity, income and expenses are directly related to an organization's financial position (Baird, 2007). We will now evaluate the financial health of Bank of America and how it looks compared to previous years and make a prediction on coming years. This should demonstrate the financial strength and weakness of the company. We will also compare Bank of America’s financial statements to JPMorgan & Chase and Wells Fargo to see how each bank compares relatively to the other financially. After review of each of the financial statements, much of which will be gained by looking at the pros and cons of each statement, such as what strategies are used from these statements in moving forward. Not only will we establish a broader range on how these banks really look financially, we will investigate their approaches on a technological level and how they differentiate from another and how they relate. Globalization has taken over a wide range of businesses nationwide, we will take a step closer into seeing how it has affected Bank of America. Among the comparisons of Bank of America and its fellow competitors, a benchmarking analysis will be conducted in reviewing best practices, operational processes, and products and services. All financial statements contain relevant information that is displayed in structured manner. They typically include four...
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...Americans Sour on Trade (WSJ.com) By SARA MURRAY and DOUGLAS BELKIN This article begins by mentioning how there is a hostile view from the American public towards globalization. From the average America’s point of view, free trade and globalization has done nothing but hurt our economy and take jobs away from the US and bring them overseas. The latest poll shows that a slight majority of Americans see free trade agreements as s tool that has hurt the US more than it has helped. One of the most dramatic results of the survey comes from data that shows that even well educated people that tend to beneficiate from free trade and whose jobs are less likely to ever go overseas also feel that free trade agreements are hurting the US. When compared to 10 years ago when this survey was first done there has been a wide increase in the educated people that have changed their mind about free trade. This gap doubled from 24% to 50%. Politicians have now taken the issue into their own hands. Last week the senate passed a bill that would pressure China to float its currency in an effort to level the amount of imports that enter the country. While this may be a temporary issue that politicians use for their advantage in the next elections it is still an issue that more and more Americans are paying attention to as the unemployment rate still lingers near 10%. The article also mentions how China is beginning to replace Wall Street as the new “America’s villain.” Some think this happened...
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...later. I knew just which direction I was going. I went east. I had Lufthansa business class, and I came home and reported only to my wife and only in a whisper: ''The world is flat.'' And therein lies a tale of technology and geoeconomics that is fundamentally reshaping our lives -- much, much more quickly than many people realize. It all happened while we were sleeping, or rather while we were focused on 9/11, the dot-com bust and Enron -- which even prompted some to wonder whether globalization was over. Actually, just the opposite was true, which is why it's time to wake up and prepare ourselves for this flat world, because others already are, and there is no time to waste. I wish I could say I saw it all coming. Alas, I encountered the flattening of the world quite by accident. It was in late February of last year, and I was visiting the Indian high-tech capital, Bangalore, working on a documentary for the Discovery Times channel about outsourcing. In short order, I interviewed Indian entrepreneurs who wanted to prepare my taxes from Bangalore, read my X-rays from Bangalore, trace my...
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...Advancements in transportation, technology and economics have led to the interconnectedness of individuals across the world. Formerly known as “Globalization”; this flattening of the globe has had both positive and negative implications on nations and its people (Wikipedia, 2012). In a positive sense, globalization has created a sense of competition around the world; thus promoting innovation and creativity. Moreover, advancements in technology have made it extremely fast and simple to spread new knowledge and innovation across borders. Governments are now better able to work together because now there are incentives towards cooperation. Cooperation between nations leads to a heightened awareness of issues; and the ability to better coordinate across borders has led to increased movement of capital and a higher standard of living for developing countries (Wikipedia, 2012). However, despite all the advancements that have occurred through Globalization, there are a few negative implications that have caused many to fear its continuation. For example, outsourcing has become a popular means of finding cost- effective employment for multi-national corporations; yet has taken away a large amount of jobs from nations that have higher standards of living. A factory worker in the U.S. can’t possibly live off pennies a day like those in Asian countries (Ehrenreich, 2001). Also, there is little regulation in regards in international affairs; which could lead to the spreading of disease...
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...Globalization through the lens of The Walt Disney Company 2. Using a single case study (for example select one of these: transnational corporations – Microsoft, McDonald’s, cultural products – film, I-pods, international financial institutions and policies – World Bank, Structural Adjustment Policies) indicate what reasons might there be for supporting and rejecting the idea of globalization as ‘Westernization’, Americanization’, and/or ‘McDonaldization’? Which arguments are more persuasive and why? Name: Amy Christofferson Student #: C05694091 Course: INS201 Due: Tuesday, November 23, 2010 "Unfortunately, all this success creates the ever-greater demand for more success." Quotes Bob Iger, The Walt Disney Company’s CEO since the death of Bill Isner in 2005. He speaks of Disney’s constant growth in economic and societal terms. Iger has focused the company’s growth on the different franchises, such as the Jonas Brothers, and on acquiring Pixar Films. Other than its branching out into other age groups, the success in the box office, along with online games and products based on both, Disney also owns many other successful businesses. Among these are ABC and ESPN as well as blossoming local Disney movies, shows and products in many different countries. Iger’s executive decisions have brought much success to Disney and have further added to the global impact of Disney and failure does not seem to be anywhere in sight. Steve Jobs, a co-founder and...
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...How Internal and External Factors Impact the Planning Function of Management within Dell Introduction This paper will discuss how internal and external factors impact the planning function of management within Dell Computer Corporation. These factors are rapid change, globalization, technology, e-business, innovation, diversity and ethics. All these factors have an affect on how the management at Dell plans for the future and reaches it’s ever changing goals. Rapid Change Dell was doing very well in sales. Demand for computers was at an all time high. In order for Dell to keep up with the demand, they needed to build a bigger and better plant. Assembly line workers were given more responsibility and more components. This enabled them to build more machines individually. Instead of adding a bolt here and a chip there, workers in very small teams would build the complete machine following precise order guidelines and by using components stored in the carefully indicated racks in front of them. In order to meet the demand for different machine options, Dell had to make a massive change in its continuous flow operation. They implemented a Pick-To Light system, which is an up-to-the-minute database that runs on an SCO Unix operating system platform and is tied to a stockroom system. By tying it to work-in-progress stockrooms, the order-level material checking system...
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...ABOUT THE AUTHOR Thomas Loren Friedman was born in Minneapolis, Minnesota, on July 20, 1953, and grew up in the middle-class Minneapolis suburb of St. Louis Park. He is the son of Harold and Margaret Friedman. From an early age, Friedman, whose father often brought him to the golf course for a round after work, wanted to be a professional golfer. He was captain of the St. Louis Park High golf team; at the 1970 U.S. Open at Hazeltine National Golf Club, he caddied for Chi Chi Rodriquez, who came in 27th. That, alas, was as close as Friedman would get to professional golf. In high school, however, he developed two other passions that would define his life from then on: the Middle East and journalism. It was a visit to Israel with his parents during Christmas vacation in 1968–69 that stirred his interest in the Middle East, and it was his high school journalism teacher, Hattie Steinberg, who inspired in him a love of reporting and newspapers. After graduating from high school in 1971, Friedman attended the University of Minnesota and Brandeis University, and graduated summa cum laude in 1975 with a degree in Mediterranean studies. During his undergraduate years, he spent semesters abroad at the Hebrew University of Jerusalem and the American University in Cairo. Following his graduation from Brandeis, Friedman attended St. Antony's College, Oxford University, on a Marshall Scholarship. In 1978, he received an M.Phil. degree in modern Middle East studies from Oxford. That summer...
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...is the world leading electricity, natural gas, pulp and paper and communication company. Stakeholders and employees lost large sums of money in the Ernon scandel. The top exectives were able to cash out before the scandel was publizeised. Enron became known as the Enron Scandal because of a creatively planned accounting fraud. The paper will also address globalization, technology, innovation, diversity and ethics and how they affect the management functions of Enron. The paper will show how supervisors will use delegation to control the different causes and purposes listed. The Enron history is not plainly a story of a isolated business that steped into thee fire and got burned. Enron got just what they describe. Enron was able to take large chances while keeping shareholders in the dark because it could expolit accounting loopholes for subsidaries that are available to most openly traded companies. Companies like Enron can legally cover up large debts because rules involve a full bookkeeping of a subsidary’s balance sheet only when the parent company owns more than half of it. Globalization Globalization is the process of integrating nations and peoples-politically, economically, and culturally into a larger community. ( Levit. Harvard University 1983) Enron corporation’s actual business was to make money, therefore they would...
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...and working with people around the world to ensure sustained competitive advantage The Global Manager’s Role Contents Assessing the Environment: • • • Understand the global business environment and how it affects the strategic and operational decisions which managers must make. Critically assess the developments, advantages, and disadvantages of globalization. Develop an appreciation for the ways in which political, economic, legal, and technological factors and changes impact the opportunities that companies face. Appreciate the complexities involved in the corporation’s obligations toward its various constituencies around the world. Understand the changing perceptions and demands of corporations doing business in other countries, in particular the responsibilities toward human rights. Recognize that companies must provide benefits to the host country in which they operate in order to maintain cooperation. Discuss the need for corporations to consider sustainability in their longterm plans in order to manage environmental impacts on host locations. Managing Interdependency: • • • • 1 The Globalization of Risk Top two risks: • Severe...
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