...Copenhagen Business School Frederiksberg 2000-Denmark Draft, October 2008 ABSTRACT The aim of the paper is to analyze the overseas activities of multinational corporations (MNCs) coming from small open economies (SMOPEC), their international or global expansion strategies behind outward foreign direct investments. Using a sample of 1089 subsidiaries, of which 187 are Icelandic subsidiaries, 444 are Irish subsidiaries and 458 are Israeli subsidiaries. We explore the geographical and industrial pattern of their direct investment strategies. Our analysis reveals several important facts. Firstly, most of the outward foreign direct investment (OFDI) is directed in finance, insurance and real estate services for all of the countries. Secondly, by far the majority of investment projects are carried out in Europe and North America which are almost equal in terms of frequency of investments. Thirdly, Icelandic firms use horizontal integration strategies and they diversify risk. Irish firms use lateral integration strategies and diversify risk. Finally, MNCs from Israel tend to diversify risk and use horizontal integration strategies. Keywords: OFDI, MNC, Horizontal integration, Vertical integration, Lateral integration, SMOPEC, Iceland, Ireland, Israel, Introduction “Foreign Direct Investment (FDI) is one of the main engines of growth for national economies. In particular, many small and medium sized countries have grown through promoting...
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...India’s R&D policy and its influence on technology development and society Mohsin U. Khan National Institute of Science Technology and Development Studies, New Delhi-110012 Technology import policy of India Period of liberalization until mid sixties. Period of tight regulations from then until the end of seventies. Period of relaxation of regulations from then until the end of eighties. Regulations were then relaxed and the policy became once again liberal. Why India gone for liberalization in 1991 India’s economy grew at the rate of about 5% during 1980s. Domestic inflation gone up to 17% in 1991. Foreign exchange reserves reduced to $ 1.2 billion barely sufficient to pay for two weeks imports. Central government fiscal deficit as a percentage of GDP touched the all time high of 8.4%. Current account deficit widened to $ 8 billion (2.6% of GDP) Policy changes since 1991 Drastically reduced number of industries reserved for public sector. Abolished industrial licensing except for a short list of industries related to security and strategic concerns, hazardous chemicals. The restrictions imposed by MRTP Act on large firms expansion, merger, amalgamation and take over etc..have been abolished. Cont.// The protection provided to the small firms being reduced. Now TNCs are free to decide whether they will use imported or local raw material. Now TNCs are free to use their brand names. Now TNCs can increase the permissible extent for foreign equity from 40 to 51...
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...BPO in India – an overview Contents I. Introduction II. What is BPO? • Types of BPO • Key services in various sectors III. Indian BPO Market IV. Market Segments and Trends • Banking sector • Insurance • Healthcare • Media/Publishing • Offshore Software Development • Network Outsourcing Services • HR Outsourcing V. Popular destinations VI. Employment opportunities VII. Key players in the market a. Indian companies b. MNCs VIII. Global competition IX. Future/outlook I. Introduction: Late 90’s has opened a new chapter in Information Technology (IT) sector in India – Business Process Outsourcing (BPO), one of the fastest growing segments of the Information Technology Enabled Services (ITES) industry. Cost conscious companies in the world to gain cost savings has set up their back office operations in India. The BPO segment, which was virtually non-existent till a few years ago, has risen to be a US $2 billion industry and IDC expects it to grow at a CAGR of 54 per cent till 2006 to reach US $12 billion. A major portion of the revenues today come from customer care and back office processing services, according to IDC’s report. II. What is BPO? BPO is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain their position in the...
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...ROW • 4 Firms – Control 20% , • 20 Firms – 50-60%, • 50 Firms – 65-75% PHARMACEUTICAL INDUSTRY – Global Trend • Covered the chemical substance itself • Offered typically 20 years of protection • Usually a lag time of 1012 years by the time the patent was obtained and the launch date • Covered the method of processing or manufacturing the product • Very little protection because it was easy to slightly modify the process Global Issues in Pharma Sector • Prices in of the drugs varied in developed countries • US & Canada by factor 1.2 to 2.5. • Europe by factor 1.1 to 2.5. Parallel Trade: an outside company sells a patented product in a market not designated to sell the drug. o • Independent firm exploited parallel trade by using the differentials in price across various countries. • Generic Drugs: unbranded drugs of comparable efficacy available at fractional cost of branded product. o o o Posed as major challenge for pricing power of large pharma companies. No additional expense for drug R&D of new compounds. Generic companies made money by copying the products discovered & developed by other major pharmaceuticals...
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...Direct Investment This page intentionally left blank Multinational Corporations and Foreign Direct Investment Avoiding Simplicity, Embracing Complexity Stephen D. Cohen 1 2007 1 Oxford University Press, Inc., publishes works that further Oxford University’s objective of excellence in research, scholarship, and education. Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Copyright # 2007 by Oxford University Press Published by Oxford University Press, Inc. 198 Madison Avenue, New York, New York 10016 www.oup.com Oxford is a registered trademark of Oxford University Press All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Library of Congress Cataloging-in-Publication Data Cohen, Stephen D. Multinational corporations and foreign direct investment: avoiding simplicity, embracing complexity / Stephen D. Cohen. p. cm. Includes index. ISBN-13 978-0-19-517935-4; 978-0-19-517936-1 (pbk.) ISBN 0-19-517935-8; 0-19-517936-6 (pbk.) 1. International business enterprises—Finance...
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...Multinational companies and China: What future? Multinational companies and China: What future? Contents Preface Executive summary Introduction Chapter 1: The big picture Hope, hype and reality Justified optimism? Chapter 2: The consumption story Chapter 3: The perils of success Is it enough One strategy, or two? Is it too much? Lacoste: Who’s your benchmark? Chapter 4: Whose hubris? Suddenly uncertain Chapter 5: The invisible hand Aiming high The real issue A non-standard approach At what price? High-speed trains: A series of unfortunate events Getting on with it Chapter 6: Honour thy master The renminbi By other means Nissan: According to plan Investing in R&D Chapter 7: Gearing up to play the game Overcoming the fear factor Appendix: Survey results 2 3 6 9 10 12 13 16 16 19 20 22 23 25 28 29 30 32 32 33 34 36 38 41 42 43 44 46 48 1 Multinational companies and China: What future? Preface Multinational companies and China: What future? is an Economist Intelligence Unit report, sponsored by CICC. The EIU conducted the survey and interviews independently and wrote the report. Gaddi Tam was responsible for layout. The cover design is by Harry Harrison. The findings and views expressed here are those of the EIU alone and do not necessarily reflect the views of the sponsor. Many interviewees for this report have asked to remain anonymous and we have respected their wishes. We would like to thank all interviewees for their time and insights...
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...3122-prelims.qxd 10/29/03 2:20 PM Page i International Human Resource Management 3122-prelims.qxd 10/29/03 2:20 PM Page ii 3122-prelims.qxd 10/29/03 2:20 PM Page iii second edition International Human Resource Management edited by A n n e - Wi l H a r z i n g J o r i s Va n R u y s s e v e l d t SAGE Publications London l Thousand Oaks l New Delhi 3122-prelims.qxd 10/29/03 2:20 PM Page iv © Anne-Wil Harzing and Joris van Ruysseveldt, 2004 First published 2004 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act, 1988, this publication may be reproduced, stored or transmitted in any form, or by any means, only with the prior permission in writing of the publishers, or in the case of reprographic reproduction, in accordance with the terms of licences issued by the Copyright Licensing Agency. Enquiries concerning reproduction outside those terms should be sent to the publishers. SAGE Publications Ltd 1 Olivers Yard London EC1Y 1SP SAGE Publications Inc 2455 Teller Road Thousand Oaks, California 91320 SAGE Publications India Pvt Ltd B-42, Panchsheel Enclave Post Box 4109 New Delhi 100 017 British Library Cataloguing in Publication data A catalogue record for this book is available from the British Library ISBN 0 7619 4039 1 ISBN 0 7619 4040 5 (pbk) Library of Congress Control Number...
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...INDIAN MARKET Due to poor sanitation conditions, infectious (acute) diseases are predominant in India. However, the incidence of chronic ailments, characterised by prolonged exposure, has been increasing with the emergence of lifestyle diseases in India, due to changing work pattern of the working population, higher stress levels, and unhealthy eating habits. Key issues answered through this analysis: What are acute and chronic ailments? What is the proportion of drugs for each segment in the total domestic formulations market? How have various therapeutic categories in the domestic formulation market performed over the last three years? Publish Date: 15-Jul-2013 | | Majority of ailments in India are more acute than chronic in nature Types of ailments Source: CRISIL Research Ailments can be classified into acute and chronic. Acute ailments are characterised by sudden, severe exposure (usually a single, large exposure) and rapid onset of the disease. The patient shows intense symptoms for a brief duration (not longer than 30 days). Infectious diseases such as common cold, fever, etc are some examples of acute ailments. However, some acute ailments may turn chronic if left unaddressed. Chronic ailments are characterised by prolonged or repeated exposures over many days, months or years. Chronic diseases can only be alleviated through treatments, but not fully cured. Unlike acute ailments, they do not usually resolve on their own accord. Examples of...
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...UNIT – I INTERNATIONAL BUSINESS – AN OVERVIEW Content Outline Introduction Definition and meaning of international business Scope of international business Special difficulties in international business Benefits of international business Understanding of international business environment Framework for analyzing the international business environment Summary Review Questions INTRODUCTION One of the most dramatic and significant world trends in the past two decades has been the rapid, sustained growth of international business. Markets have become truly global for most goods, many services, and especially for financial instruments of all types. World product trade has expanded by more than 6 percent a year since 1950, which is more than 50 percent faster than growth of output the most dramatic increase in globalization, has occurred in financial markets. In the global forex markets, billions of dollars are transacted each day, of which more than 90 percent represent financial transactions unrelated to trade or investment. Much of this activity takes place in the so-called Euromarkets, markets outside the country whose currency is used. This pervasive growth in market interpenetration makes it increasingly difficult for any country to avoid substantial external impacts on its economy. In particular massive capital flows can push exchange rates away from levels that accurately reflect competitive relationships among nations...
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...International Business- Dr. R. Chandran 1. International Business: Meaning And Scope Interdependency is a natural phenomenon; nations, living beings and companies cannot totally depend on themselves. It is the major driving force for international business. Learning value: This chapter covers the essential aspects, 1. 2. 3. 4. 5. Definition of international business Emergence of developing nations in international business Motives of international business from companies and nations Fundamental differences between Domestic and International business Few successful organizations in Domestic & International business International business: Meaning and Scope In the post independence era, more than half-century Indian entrepreneurs concentrated on domestic operations and a surplus production was exported. The physical movement of goods, called EXPORT cannot represent International business. International business is defined as “any commercial transaction-taking place across the boundary lines of a sovereign entity”. It may take place either between countries or companies or both. Private companies involve themselves in such transactions for revenue, profit and prosperity. If governments are involved, they need to maintain their image, dependency and economic growth. Sometimes economic ties are strengthened through such transactions. These transactions include investments, physical movements of goods and services, transfer of technology and manufacturing. Today every company...
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...(Cover Page) “PROJECT ON “SUCCESS STORY OF AN ENTREPRENEUR – KIRAN MAZUMDAR” Master of Commerce Semester – III (2014-2015) Submitted In Partial Fulfillment of the requirements For the award of degree of M.Com By Arati Sachidanand Mishra Seat No. _86_ Tolani College of Commerce Sher – E – Punjab society, Andheri (East), Mumbai – 400 093. PROJECT ON “SUCCESS STORY OF AN ENTREPRENEUR – KIRAN MAZUMDAR” Master of Commerce Semester – III (2014-2015) Submitted In Partial Fulfillment of the requirements For the award of degree of M.Com By Arati Sachidanand Mishra Seat No. _86_ Tolani College of Commerce Sher – E – Punjab society, Andheri (East), Mumbai – 400 093. CERTIFICATE This is to certify that Arati Sachidanand Mishra of M.Com. Semester III (2014–2015) has successfully completed the project on “Success Story of an Entrepreneur- Kiran Mazumdar” under the guidance of Prof. Mahalaxmi Ramaprasad. Project Guide: - ___________________ Course Co-Ordinator: - ___________________ External Examiner: - ___________________ Principal: - ___________________ DECLARATION I, Arati Sachidanand Mishra the student of M.Com.Semester III (2014-2015) hereby declare that I have completed the project on “Success Story of an Entrepreneur- Kiran Mazumdar” in the course (Entrepreneurship Management). The information submitted is true and original to the...
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...MBA LEARN MORE, DO MORE, BECOME MORE 90 exceptional people who will shape the future of business The IMD MBA Class of 2011 Developing your future global leaders The IMD difference Why recruit at IMD? Find truly global experienced leaders able to address your company’s challenges in today’s complex environment 90 talented pre-screened participants Besides strong academic ability, we assess the leadership potential with a focus on real management capacity in a multi-cultural and complex environment. In total we spend at least 10 manhours per candidate to make sure each one is right for the program. The admission process consists of: - an online application with 12 essays - letters of recommendations - a full day assessment center Once accepted, each candidate goes through a full background check conducted by an independent agency. International and experienced In a class of 90, you will find 40+ different nationalities and 90% of the participants will have spent at least 6 months outside their home country. With a minimum of 3 years of work experience, our participants have on average 7 years of experience prior to IMD. Trained to become truly global hand-on leaders Besides strong academic business fundamentals, our intensive one-year program is designed to constantly push our MBAs beyond their comfort zone. A diversity of hands-on projects takes them through various settings: - a 6-week startup project - a 9-week international consulting project with medium to...
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...Bisht et al. Globalization and Health 2012, 8:32 http://www.globalizationandhealth.com/content/8/1/32 REVIEW Open Access Understanding India, globalisation and health care systems: a mapping of research in the social sciences Ramila Bisht1*, Emma Pitchforth2 and Susan F Murray3 Abstract National and transnational health care systems are rapidly evolving with current processes of globalisation. What is the contribution of the social sciences to an understanding of this field? A structured scoping exercise was conducted to identify relevant literature using the lens of India – a ‘rising power’ with a rapidly expanding healthcare economy. A five step search and analysis method was employed in order to capture as wide a range of material as possible. Documents published in English that met criteria for a social science contribution were included for review. Via electronic bibliographic databases, websites and hand searches conducted in India, 113 relevant articles, books and reports were identified. These were classified according to topic area, publication date, disciplinary perspective, genre, and theoretical and methodological approaches. Topic areas were identified initially through an inductive approach, then rationalised into seven broad themes. Transnational consumption of health services; the transnational healthcare workforce; the production, consumption and trade in specific health-related commodities, and transnational diffusion of ideas and knowledge...
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...Kendriya Vidyalaya Sangathan 18, Institutional Area, Shaheed Jeet Singh Marg, New Delhi - 110 602. SUPPORT MATERIAL YEAR 2012-13 SUPPORT MATERIAL CLASS X – Social Science Chief Patron Shri Avinash Dikshit Commissioner KVS, New Delhi Patron Shri J.M Rawat Deputy Commissioner KVS, Jaipur Region Guidance Sh.K.R Choyal Assistant Commissioner KVS, Jaipur Region Sh. Dr. R.K Agarwal Assistant Commissioner KVS, Jaipur Region Convener Ms. Urmil Meena Principal, K.V. No. 1, Alwar Prepared By Mrs. P. Dixit Principal K. V. No. 4, Jaipur Mr. Anil Kumar Daila TGT (S.ST.) K. V. No. 1, Alwar Mrs. Veena Michael TGT (S.St.) K. V. No. 5, Jaipur Mr. D.C. Garg TGT (S.St.) K. V. Zawar Mines Mr. Manoj Singh TGT (S.St.) K. V. No. 1, Alwar Mrs. Sunila Thapar TGT (S.St.) K. V. Phulera Reviewed by Shri U.R Meghwal Convener Principal K.V Bhilwara Shri M.M. Sharma PGT (History) K.V Nasirabad Shri...
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...ECONOMIC GEOGRAPHY Y U K O A O YA M A J A M E S T. M U R P H Y SUSAN HANSON KEY CONCEPTS IN key concepts in economic geography The Key Concepts in Human Geography series is intended to provide a set of companion texts for the core fields of the discipline. To date, students and academics have been relatively poorly served with regards to detailed discussions of the key concepts that geographers use to think about and understand the world. Dictionary entries are usually terse and restricted in their depth of explanation. Student textbooks tend to provide broad overviews of particular topics or the philosophy of Human Geography, but rarely provide a detailed overview of particular concepts, their premises, development over time and empirical use. Research monographs most often focus on particular issues and a limited number of concepts at a very advanced level, so do not offer an expansive and accessible overview of the variety of concepts in use within a subdiscipline. The Key Concepts in Human Geography series seeks to fill this gap, providing detailed description and discussion of the concepts that are at the heart of theoretical and empirical research in contemporary Human Geography. Each book consists of an introductory chapter that outlines the major conceptual developments over time along with approximately twenty-five entries on the core concepts that constitute the theoretical toolkit of geographers working within a specific subdiscipline. Each entry provides...
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