...reduce poverty. What we do The IMF promotes international monetary cooperation and exchange rate stability, facilitates the balanced growth of international trade, and provides resources to help members in balance of payments difficulties or to assist with poverty reduction. Membership The IMF has 187 member countries. It is a specialized agency of the United Nations but has its own charter, governing structure, and finances. Its members are represented through a quota system broadly based on their relative size in the global economy. How we do it Through its economic surveillance, the IMF keeps track of the economic health of its member countries, alerting them to risks on the horizon and providing policy advice. It also lends to countries in difficulty, and provides technical assistance and training to help countries improve economic management. This work is backed by IMF research and statistics. Collaborating with others The IMF works with other international organizations to promote growth and poverty reduction. It also interacts with think tanks, civil society, and the media on a daily basis. Organization & Finances The IMF has a management team and 17 departments that carry out its country, policy, analytical, and technical work. One department is charged with managing the IMF's resources. This section also explains where the IMF gets its resources and how they are used. Management The IMF has a Managing Director, who is head of the staff and Chairman...
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...MANAGING CORPORATE RESPONSIBILITY IN WIDER BUSINESS ENVIRONMENT NAME ID INTERNATIONAL COLLEGE OF BUSINESS & TECHNOLOGY LTD Edexcel BTEC Level 7 Professional Diploma in Strategic Management & Leadership Managing Corporate Responsibility in Wider Business Environment Table of Contents INTRODUCTION .................................................................................................................... 2 Page | 1 PART 01: .................................................................................................................................. 3 LO 1.1: Briefly explain how the globalization has an impact on a national economy ......... 3 LO 1.2: Discuss the influence of international institutions. .................................................. 4 LO 1.3: Explain the role of European Union on Unilever, UK. ........................................... 6 LO 2.1: Explain the importance of having good Corporate Governance for the organization ............................................................................................................................................... 7 LO 2.2 & 2.3: Discuss what regulatory requirements exist in the country shaping the corporate governance practices of an organization and their role in ensuring corporate stakeholder’s interest. ............................................................................................................ 8 LO 3.1: Discuss the economics of adopting a policy...
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...been on HRM as it is practice in organizations in the United States. But many of these firms also engage in international trade. A large percentage carry on their international business with only limited facilities and representation in foreign countries. Others, particularly Fortune 500 corporations, have extensive facilities, and personnel in various countries of the world. Managing these resources effectively, and integrating their activities to achieve global advantage, is a challenge to the leadership of these companies. We are quickly moving toward a global economy. While estimates vary widely, ap¬proximately 70 to 85 percent of the U.S. economy today is affected by international competition. Recent popular books have suggested that many U.S. companies need to reassess their approach to doing business overseas, particularly in the area of managing human resources. To a large degree, the challenge of managing across borders boils down to the philosophies and systems we use for managing people. In this chapter we will observe that much of what is discussed throughout this text can be applied to foreign operations, pro¬vided one is sensitive to the requirements of a particular international setting. The first part of this chapter presents a brief introduction to international business firms. In many important respects, the way a company organizes its international opera¬tions influences the type of managerial and human resources issues it faces. In additioft1 we briefly...
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...Impact of Globalization Globalization of Markets: Refers to the merging of historically distinct and separate national markets into one huge global market place. Falling barriers to cross border market have made it easier to sell internationally. It has been argued for some time that the tastes and preferences of consumers in different nations are beginning to converge in some global norm, thereby helping to create a global market, for example Nike shoes are worn all over the world from Canada to Argentina, and from New York to Tokyo most people know about the brand name and demand that stores carry the brand. I recently visited the country of Colombia and found out that mostly everything that’s available in New York is available there also. I was able to find Rolex watches, Apple computers, Mercedes Benz luxury automobiles and so on. A company does not have to be the size of a multinational in order to participate and benefit from globalization of markets, any small firm can participate in the worldwide trade provided that they get the proper contacts and they do the proper due diligence to make sure they are working with legitimate companies in order to assure themselves to get paid for their goods and services because otherwise it would be very hard to collect on debt from overseas. The most global markets currently are not markets for consumer products, where national differences and tastes are still important enough to act as a brake on globalization. For example...
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...International Management Culture, Strategy, and Behavior Ninth Edition Fred Luthans University of Nebraska-Lincoln •Jonathan P. Doh Villanova University Mc Graw Hill Education Table of Contents Part One Environmental Foundation 1 2 The World of International Management: An Interconnected World Introduction Globalization and Internationalization Globalization, Antiglobalization, and Global Pressures Global and Regional Integration The Shifting Balance of Economic Power in the Global Economy 2 4 6 6 9 12 Global Economic Systems Market Economy Command Economy Mixed Economy 19 19 19 20 Economic Performance and Issues of Major Regions Established Economies Emerging Economies Developing Economies on the Verge 20 20 22 26 The World of International Management—Revisited 30 Summary of Key Points 32 Key Terms 32 Review and Discussion Questions 32 Answers to the In-Chapter Quiz 33 Internet Exercise: Global Competition in Fast Food 33 In the International Spotlight: India 2 Globalization and International Linkages 34 The Political, Legal, and Technological Environment 36 The World of International Management: Social Media and the Pace of Change 36 Political Environment Ideologies Political Systems 38 39 41 Legal and Regulatory Environment Basic Principles of International Law Examples of Legal and Regulatory Issues Privatization Regulation...
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...Globalisation 1 Lecture/Chapter Topics • Chapter Introduction • Definition of Globalisation • Emergence of Global Institutions • Driving Forces of Globalisation • Changing Characteristics of Global Economy • Globalisation Debate • Managing in Global Marketplace Definition of Globalisation • • Globalisation: the trend towards a more integrated global economic system Effects of globalisation can be seen everywhere, for example: – – – – the cars people drive the food people eat the jobs people have the clothes people wear Definition of Globalisation • What is Globalisation? – Globalisation refers to the shift towards a more integrated and interdependent world economy. • Facets of Globalisation – Globalisation of Markets – Globalisation of Products – Emergence of Global Institutions Definition of Globalisation • The Globalisation of Markets – – The historically distinct and separate national markets are merging into one huge global marketplace in which the tastes and preferences of consumers in different nations are beginning to converge in some global norm. Examples of consumer products: Prada fashions, Sony Playstation video games, McDonald’s hamburgers (US), Nescafe coffee (Switzerland), Nokia mobile phones (Finland), IKEA furniture (Sweden) Definition of Globalisation • Globalisation of Production – Sourcing goods and services from different locations around the globe in an attempt to take advantage...
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...International Management: Managing Across Borders and Cultures, Text and Cases, Seventh Edition SEVENTH EDITION FEATURES • Streamlined text in eleven chapters, with particular focus on global strategic positioning, entry strategies and alliances, effective cross-cultural understanding and management, and develop- ing and retaining an effective global management cadre. The seventh edition has been revised to reflect current research, current events and global developments, and includes company examples from the popular press. In Chapter 1, we introduce trends and developments facing international managers and then expand those topics in the context of the subsequent chapters. For example, we discuss developments in globalization and its growing nationalist backlash— in particular resulting from the global financial crisis. We discuss the effects on global business of the rapidly growing economies of China and India and other emerging economies such as those in Africa, and the expansion of the EU; the globalization of human capital; and the esca- lating effects of Information Technology and the global spread of e-business. We follow these trends and their effects on the role of the international manager throughout the book. For exam- ple, in Chapter 6 we focus further on strategies for emerging markets, while also dealing with changing strategies to respond to economic decline around the world and an increasing level of nationalism in some industries; we have a...
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...Why do you think GE has invested so aggressively in foreign expansion? What are the opportunities that it is trying to exploit? True / False Questions 1. (p. 7) Globalization refers to the shift toward a more integrated and interdependent world economy. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 2. (p. 7) Tastes and preferences of consumers in different nations are beginning to converge on some global norm. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 3. (p. 7) A company has to be a major multinational corporation to facilitate, and benefit from, the globalization of markets. FALSE AACSB: Analytic BT: Knowledge Difficulty: Medium Learning Objective: 1-1 Topic: What Is Globalization? 4. (p. 7) In Germany, 98 percent of small and midsize companies have exposure to international markets. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 5. (p. 8) Currently, the most global of markets are for industrial goods and materials that serve a universal need the world over. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 1-1 Topic: What Is Globalization? 6. (p. 8) As firms follow each other around the world, greater diversity replaces uniformity. FALSE AACSB: Analytic BT: Knowledge Difficulty:...
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...Pamphlet Series No. 53 Governance of the IMF Decision Making, Institutional Oversight, Transparency, and Accountability Leo Van Houtven INTERNATIONAL MONETARY FUND 2002 Pamphlet Series No. 53 Governance of the IMF Decision Making, Institutional Oversight, Transparency, and Accountability Leo Van Houtven INTERNATIONAL MONETARY FUND Washington, D.C. 2002 ISBN 1-58906-130-6 ISSN 0538-8759 August 2002 The views expressed in this pamphlet, including any legal aspects, are those of the author and should not be attributed to Executive Directors of the IMF or their national authorities. Cover design and typesetting: IMF Graphics Section Please send orders to: International Monetary Fund, Publication Services 700 19th Street, N.W., Washington, D.C. 20431, USA Tel.: (202) 623-7430 Telefax: (202) 623-7201 E-mail: publications@imf.org Internet: http://www.imf.org Contents Preface ............................................................................................... List of Abbreviations ........................................................................ I. II. Introduction ........................................................................... Quotas and Voting Power in the IMF: A System That Calls for Greater Equity ................................................... Role of Quotas and the Debate on the Quota Formula............ Further Work Toward Correcting Distortions and Enhancing Equity in Voting Power .....................
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...Globalization What Is Globalization? The world is moving away from self-contained national economies toward an interdependent, integrated global economic system. Globalization refers to the shift toward a more integrated and interdependent world economy. Globalization has two facets: 1) the globalization of markets 2) the globalization of production 1) The Globalization Of Markets: The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global marketplace. Ex: In many industries, it is no longer meaningful to talk about the “German market” or the “American market”. Instead, there is only the global market. Falling trade barriers make it easier to sell internationally. The tastes and preferences of consumers are converging on some global norm. Firms help create the global market by offering the same basic products worldwide. 2) The Globalization Of Production: The globalization of production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production like land, labor, and capital Companies compete more effectively by lowering their overall cost structure or improving the quality or functionality of their product offering. The Emergence Of Global Institutions : Institutions are needed to: * help manage, regulate, and police the global marketplace * promote the establishment...
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...International Management Research Report – Group EXECUTIVE SUMMARY The economic situation in Asian countries has been rising for the past few decades due to the large number of young productive population, investment of youth education and development of technologies in Asian countries. Therefore, most western countries, including Australia, are attracted to invest in Asian countries as their manufacturing base and export destination. Consequently, the rapid development of economy in China and other Asian countries has encouraged U.S and European Union to form a free-trade alliance in order to keep them as the market leader in the world economy. Hence, the trade between borders would be a lot easier and more companies will be encouraged to go international. Hence, global and intense competition in a worldwide scope will be created. By taking into account of those two events, this report will discuss the issues that are potentially faced by organizations which operate internationally, which is drawn by articles from Bartlett and Ghoshal. However, due to the limitation, the report will only discuss four major issues, The first issue will discuss about how companies create transnational companies. It is believed that businesses often fail operate internationally due to the incapability of fulfilling the needs for global integration, differentiation and innovation spreading simultaneously (pg. 7). The second issue will discuss about the implications in managing relationship...
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...Opportunities 4 Economic and Geographic Environment 4 Social and Cultural Environment 4 Political and Legal Environment 5 International and Local Competition 5 Economic and Geographic Environment 5 Managing International Financial and Business Risks 6 Characteristics of Global Management Information Systems (MIS) 6 Characteristics of Global Human Resources 7 Characteristics of Global Marketing 7 Product Target Market Planning for Foreign Markets 7 Designing a Global Distribution Strategy 8 Selecting an International Pricing Strategy 8 Determining Organizational Financial Results 9 Key Success Factors for Global Business 9 Monitoring and Control 9 Recommendations 10 Conclusion 10 Appendixes 12 Executive Summary This business analysis is in reference to a foreign direct investment into a diamond business within Botswana. This analysis provides the information to determine, if Botswana is a viable country for investment. The pertinent information is in reference to the country’s culture, economy, geography, resources and other factors that will assist with our analysis. In conclusion, a favorable recommendation is given for investment in a diamond mining business in Botswana. Global Business Analysis: Market of Botswana and Diamonds Botswana population is over two million people and was primarily an agricultural based economy. In 1967, the country realized they were sitting on a large natural resource of diamonds. The country started mining, which...
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...Role of Risk Management in Managing Price volatility in the Global oil and gas market 1.Introduction “Oil is the life blood of civilization. It fuels the vast majority of the world’s mechanized transportation equipment – automobiles, trucks, trains ships, farm equipment, the military, etc. oil is also the primary feedstock for many of the chemicals that are essential to modern life”(Hirsch et al. 2005:2). It can be said that; there cannot be economic growth without oil, therefore oil is crucial to the world economy, and change in prices would definitely have a knock on effect on the world economy, the oil market is complex, very volatile and it’s capital intensive (Sharma 1998:2). “Oil Prices have exhibited unprecedented volatility in recent months , prices rose from 2004 to historic highs in mid -2008 and only to fall in the last four months of 2008” (kojima 2009:9). Economic growth in the United States of America (USA) and the emerging new markets between 2004 and 2008 gave rise to demand for oil and high-rise in the price of oil. This high volatility of prices has led governments and institutions to intervene in the oil market. This coursework aims at showing the impact of oil price volatility in the global market; it also examines the various roles played by governments, financial institutions and The Organisation of Petroleum Exporting Countries (OPEC) in stabilizing and managing the risk, and the remote causes of price volatility. Government intervention...
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...Globalization What Is Globalization? * The world is moving away from self-contained national economies toward an interdependent, integrated global economic system * Globalization refers to the shift toward a more integrated and interdependent world economy What Is The Globalization of Markets? * Historically distinct and separate national markets are merging * It no longer makes sense to talk about the “German market” or the “American market” * Instead, there is the “global market” * falling trade barriers make it easier to sell globally * consumers’ tastes and preferences are converging on some global norm * firms promote the trend by offering the same basic products worldwide What Is The Globalization of Production? * Firms source goods and services from locations around the globe to capitalize on national differences in the cost and quality of factors of production like land, labor, and capital * Companies can * lower their overall cost structure * improve the quality or functionality of their product offering * Firms source goods and services from locations around the globe to capitalize on national differences in the cost and quality of factors of production like land, labor, and capital * Companies can * lower their overall cost structure * improve the quality or functionality of their product offering Why Do We Need Global Institutions? * Institutions * help manage, regulate, and police...
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...Global Financing and Exchange Rate Mechanisms Global Financing and Exchange Rate Mechanisms International financial institutions are very important for the world to function. International institutions provide capital, improves the standards of living in developing countries. International institutions include World Bank, IMF, and the regional development banks. This essay defines the roles of international financial institutions; as well as how they are used in financing operation. International financial comes with risk and the importance of managing the risk. Roles of international financial insititutions The role of international financial institutions is firm so that we can move forward to expanding to additional countries. The role of international financial institutions is to providing financial support and stable advice for project in developing countries. The role of international financial institutions is to provide stability in the developing countries. The role includes being governed by international laws because it involves more than one country. The international financial also supports the private sector in struggling countries by providing support and give initiatives to help the developing countries such as Africa. The international institutions provide loans and other aids to the countries ("Unisdr", n.d.). For example, with the Keystone pipeline project; this is project that is head by a company called TransCanada. Canada...
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