...considered progressive, prosperous and expected to keep improving over the years. Spain’s economic freedom score is 67.6, setting its economy as number 49 on the Free Economy 2015 Index (Heritage, 2015). The country bases its profits on its well established, diverse manufacturing industry and being one of the largest tourist destination’s in the world. Its score has increased by 0.4 point since last year, reflecting improvements in six of the 10 economic freedoms, driven by investment freedom, monetary freedom, and the management of government spending, that outweigh declines in freedom from corruption and fiscal freedom (Heritage, 2015). Spain is ranked 21st out of 43 countries in the Europe region, and its overall score is above the world average (Heritage, 2015). After experiencing a lengthy recession in the wake of the global financial crisis that began in 2008, in 2014 Spain marked the first full year of positive economic growth in seven years, largely due to increased private consumption (World Factbook, 2015)). At the onset of the global financial crisis Spain's GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. (Worldfactbook, 2015). In 2013, Spain’s government successfully restored struggling banks (that were caused by the downward spiral of Spain’s real estate & construction sectors). Exports were resilient throughout the economic downturn and helped to bring Spain's current account into surplus in 2013 for the...
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...Spain Spain and its brief History Spain was first called as Iberia, name give by its inhabitants from North Africa. The name was given after the river Iber. When the Greeks arrived on the Spanish soil they called it Hesperia meaning ‘land of setting sun’ and when the Carthaginians took over the land they named it Ispana meaning ‘land of rabbits’. When the Romans arrived they named the land as Hispania and later on this became the present day Spanish name Espana. Spain was initially controlled and ruled by the Roman Empire for three hundred years. Later on a group of people called Visigoths fought with the Romans, defeated them and ruled over Spain for more than two hundred years. Spain, officially known as Kingdom of Spain is a sovereign state and a member of the European Union. Spain is located in the Iberian peninsula in Southwestern part of Europe. Spain has an area of 505992 sq kilometers, making it the 2nd largest country in Western Europe and the 5th largest in Europe. Spain is a democratic country with a parliamentary government under constitutional monarchy. It is the 13th largest economy in the world in terms of nominal GDP. According to a survey in 2012, total population in Spain is 47.27 million and its official language is Castilian Spanish (spoken by 75% of the population). Spain is located in Southwestern Europe bordering Mediterrainian Sea, North Atlantic Mountains, Southwest of France, Pyrenees Mountains and Bay of Biscay. ‘La Tomatina’...
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...[pic] Porter’s Diamond Analysis of Spain (Topic 8) Manuel Gall 6 Elboden Street 7004 South Hobart mrgatt@postoffice.utas.edu.au Strategic Management University of Tasmania Dr. Dallas Hanson Submitted on October 23, 2012 Introduction: Porter (1990) raised the question: “Why does a nation become home base for successful international competitors in an industry?” According to porter’s diamond, the answer lies in four elements, namely the factor conditions, the demand conditions, the related & supporting industries and in the context for firm strategy and rivalry (Fisher, Hughes, Griffin & Pustay 2009). These four factors interact in a self-reinforcing system that essentially determine a nation’s international competitiveness. This theory can be classified as a hybrid between the classical country-based trade theories[1] that emphasise the country’s factor endowments and the more modern firm-based theories[2] that focus on the action of individual companies (Fisher et al 2006). Spain is ranked as 36th out of 144 countries in the actual WEF[3] Global Competitive Report (2012). Thus, it is classified as innovation-driven economy that has reached highest development stage. However, the recent financial crisis has hit Spain, that suffers since years under a structural deficit, on the wrong foot (OECD[4], 2010). As a consequence, Spain recently has had trouble to finance its debt over private capital markets and is dependent...
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...Spanish financial crises 1. Spain’s Debt Problem The financial crises of Spain can be described as the sovereign debt problem, which is a large and continuous budget deficit feeding into its accumulated debt. From figure 1 we can see that fiscal consolidation hadn’t successfully made a recovery (see figure 1). Schwartz (2013) quoted that the net increase in debt in 2013 is expected to be €48 billion (HK$480 billion) and the gross issue of public debt €207.2 billion (HK$2085 billion). These are large sums compared with Spain’s GDP of €1.05 trillion (HK$10.69 trillion) 1. Figure 1 Source: Banco de España, General government liabilities. Excessive Deficit Procedure (EDP) debt, 11.6. Debt according to the excessive deficit procedure (EDP) and financial assets held by general government; http://www.bde.es/webbde/es/estadis/infoest/a1106e.pdf ------------------------------------------------- 1. Pedro Schwartz (2013), The Welfare State as an Underlying Cause of Spain’s Debt Crisis, Cato Journal, Vol. 33, No. 2 Actually before financial crises, Spain had experienced a long period of high economics growth. At the end of 2007, the fiscal position of Spain performed excellent. According to Eurostat, it was better than in the other three largest euro area member states Spain had a consolidated total government budget surplus of 1.9 percent of GDP, the third highest after Finland (5.2 percent) and Luxembourg (3.7 percent). But in fact it produced...
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...José Francisco Rosselló Solivellas César Jimeno Campos Jose Antonio Rodríguez Cuenca Ernest Llofriu Palou INTRODUCTION ................................................................................................. 3 EXTERNAL ANALYSIS ...................................................................................... 3 MACRO ENVIRONMENT ................................................................................... 3 Economic'factors'and'tendencies'....................................................................................................................'3' Environment'factors'and'tendencies'.............................................................................................................'4' Technological'factors'and'tendencies'...........................................................................................................'7' Demographic'factors'and'tendencies'............................................................................................................'8' Social'and'cultural'factors'and'tendencies'.................................................................................................'9' Political'and'legal'factors'................................................................................................................................'10' MICROENVIRONMENT .................................................................................... 13 Competitors'.....................................................
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...COUNTRY REPORT SPAIN Submitted to: Dr. Fritz Rieger. Submitted by: Sai Krishna Gumparla. Student No: 103943448. Section: 03 Date of Submission: 10 July 2013. Spain, Span. España āspäˈnyä, officially Kingdom of Spain , the 13th-largest economy in the world, the fifth-largest in the European Union, and the fourth-largest in the Euro zone, based on nominal GDP comparison is a constitutional monarchy (2005 est. pop. 40,341,000), 194,884 sq mi (504,750 sq km), including the Balearic and Canary islands, SW Europe. It consists of the Spanish mainland (190,190 sq mi/492,592 sq km), which occupies the major part of the Iberian Peninsula; of the Balearic Islands in the Mediterranean Sea; and of the Canary Islands in the Atlantic Ocean. Ruler: King Juan Carlos I (1975) Prime Minister: Mariano Rajoy (2011) Land area: 192,819 sq mi (499,401 sq km) Total area: 194,896 sq mi (504,782 sq km) Population (2012 est.): 47,042,984 (growth rate: 0.654%) Capital and largest city (2011 est.): Madrid, 7,254,321 (metro. area) Other large cities: Barcelona, 1,621,537; Valencia, 814,208; Seville, 703,206 Monetary unit: Euro (formerly peseta) GDP: 1.477 trillion USD Unemployment: 25.1% Inflation (CPI): 3.1% CULTURAL ENVIRONMENT: Overview Situated in south-western Europe, Spain's geographical diversity encompasses landscapes that range from deserts and coastal beaches to snow-covered mountains. Present-day Spanish culture, deeply rooted in tradition, has been carved by the many outside influences the...
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...only to a mortgage company, or to a four-year college loan provider. But it is a different matter for an entire nation to be deeply buried in debt and unable to repay it. When a country drowns in debt, the government of that country usually seeks austerity as the major remedy of overcoming its debt crisis. Austerity promotes slow growth, and this actually makes the situation even worse due to the fact that world economy has become more open and integrated. In today’s world, there is no nation that exists in economic isolation. Every countries almost all the economic aspects- its education, health service, industries, service sectors, levels of income, and employment is integrated to the economies of its adjacent countries. This linkage plays a very important role in the global movement of goods and services, labor, investment funds, and technology. That is, when a country defaults on paying its debt, it not only affects the country in default, but also initiates a global economic crisis. In my research paper, I will tell the tale of eurozone debt crisis, which has created a global hysteria in the current world economy. In the research that follows, I will start with a brief history of the eurozone, how did eurozone face the debt crisis, and what might be ahead for the global economy, amid the ongoing European financial crisis. Eurozone is a term designated for all the countries that share a common single monetary policy managed by the Euro-system comprising the Frankfurt...
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...a Country ------------------------------------------------- The management Enviroment- 7BSP1248 Word Count: WORD LIMIT: 2000 Table of Contents Introduction 3 Critical Analysis of the Tools Implemented. 4 Key Factors Affecting Spain’s Management Environment 4 Tools Put to Use 5 Conclusion 6 References 6 Introduction In the world of today, a numerous amount of issues can affect a certain country in many different ways. The managing environment of the country is essential to the evolution of the country in the rapidly changing environment the world is experiencing. This environment in which the management operates in Spain will be critically reviewed using various tools of analysis to better comprehend the situation in which they currently exist. Some of the key factors that affect the management environment of Spain is the political situation the country faces currently, ongoing corruption has played an essential part to the population change including drastic changes within the country. Poor government which affects the countries economy which it has experienced for the past two years, hindering younger generations finding jobs which convinces a lot of individuals to leave the country to find a better life elsewhere, is also a driving factor for the problems it currently faces. As the (World Bank 1997) defines corruption as the “abuse of public power for private gain”, for decades it has been a focal point as an extremely important consideration in development...
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...Located at the crossroads of the Atlantic and the Mediterranean, Europe and Africa, Spain's history and culture are made up of a rich mix of diverse elements. Through exploration and conquest, Spain became a world power in the 16th century, and it maintained a vast overseas empire until the early 19th century. Spain has had peaceful transition to democracy following the death of Dictator Francisco FRANCO in 1975, and rapid economic modernization in 1986, which gave Spain a dynamic and rapidly growing economy and made it a global champion of freedom and human rights. More recently the government has had to focus on measures to reverse a severe economic recession that began in mid-2008. In this report I will discuss the history, demographics, major products Spain benefits from, attitudes, beliefs and religions practiced in the country, their main language societal organization and economic development of the country. At the conclusion of this report, it will be known that Spain is a country that the U.S. and other countries will continue to do business with. Spain has a long rich history with earliest signs of inhabitants going back to 800,000 BC. By 1200 BC North African and Celtic tribes settled on the peninsula creating a Celt-Iberian race. In turn, areas of Spain were colonized and fought over by the Phoenicians, Greeks, Carthaginians, Romans and the Goths. Moorish armies from North Africa invaded the peninsula in the 8th century AD and defeated the last Visigoth King and...
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...SOCIAL INNOVATION IN SPAIN Introduction Social innovation is defined as a novel solution to a social problem that is more effective, efficient, sustainable, or just than existing solutions and for which the value created accrues primarily to society as a whole rather than private individuals. The results of social innovation - new ideas that meet the unmet needs- are all around us. The results include hospices and kindergartens, fair trade and restorative justices, distance learning and congestion charging. Social innovation is different from innovation or creativity in general because it covers very wide boundaries of impact from gay partnership to new ways of using mobile phone texting and from new lifestyles to new products and services. Why Social Innovation? The financial and economic crisis makes creativity and innovation in general and social innovation in particular more important to foster sustainable growth, secure jobs and boost household health in micro level. The reason social innovation has moved center stage over the last decade is that existing structures and policies have found it impossible to crack some of the most pressing issues of our times – such as climate change, the worldwide epidemic of chronic disease, and widening inequality. History of Social Innovation The last two centuries have seen innumerable social innovations that have moved from margins to mainstream. These include the invention and spread of trade unions and cooperatives, which...
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...expansionism, the Spanish-American War led America into the modern era, the war was a symbol that the United States was rising power. The Spanish-American War was a war which launched in order to despoil the Spanish colonies. At that time, the Philippines not only had the important economic value, but also was the strategic base of America, so it was necessary to occupy the Philippines. On February 15th, the American vessel the Maine sunk in Havana harbor, and the United States seized the chance as an excuse, began to take military actions to declare war to Spain. There are many reasons to explain why the United States won this war, and many people consider that the main reason of it is because the huge strength disparity between the United States and Spain. “Spain was even less ready for war than the United States.”(ushistory.org). That’s true, the burgeoning America had strong economic and military potential, and it had built a powerful navy. At the same time Spain had declined, and it was isolated in the National position, also. Especially the Cubans and the Filipinos armed themselves to struggle against the Spanish colonial rule, and suppressed a large number of Spanish troops. “The relations between Spain and the United States had been much disturbed by the state of affairs in Cuba.”(Plagiarism). The brutal crackdown of Spanish troops completely enraged the American government, and endangered the benefits of the local American capitalists. The United States...
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...Name of the University Master Thesis Banking system reforms after the subprime crises Study case: Spain Author: | Supervisor: | | | Department of …………………………… January 2014 Abstract How did the Subprime Crisis, a small problem of U.S. financial markets, affect the entire global banking system? The aim of this paper is to analyze the effect of the subprime crisis on the banking sector in Europe, with a close attention on the case of Spain. Spain is currently facing the worst crisis ever experienced in its financial history, so it would be interesting to analyze what is the real situation of the banking sector and what will be the reforms that could lead to a consolidation of the financial systems. The strengths and weaknesses of the financial sector will be analyzed in order to see the changes needed to maintain its competitive position. The first part of the paper will briefly explain the subprime crisis, origins and impact on the financial world as new form of contagion. In the second chapter the consequences of the subprime crisis in the Spanish banking sector will be described. The last chapter of the thesis will present an analysis of the reforms made, using legal intervention. It will be concluded with a general point of view regarding the present situation of the Spanish banking system, the potential results of the current measures and the perspectives of new reforms. Contents 1 | Introduction | | 2 | Introducing the Subprime Crisis...
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...Buy Spain, Hold Germany and Sell South Africa Based on special report at Financial Times on Investing in Spain, it looks like Spain is currently making all right decisions to move towards Globalization, and hence it makes it as my BUY candidate. Germany continues to maintain its strong presence in all top lists that matter like Economic Freedom, Internet Usage, and Technological Achievements etc. and hence justifies its BUY previously and makes as my HOLD candidate. Germany is the third most economically important country in world according to Nation-Master. South Africa on other hand is not making enough progress. In fact based on Country Profile at Nation-Master, South Africa is ranked higher in all the bad or worse indexes. The potential it showed earlier to rise up from developing country to developed country is not showing anywhere and thus makes it as my top-most candidate for SELL. Note: This document is still just some scribbles and not the finalized document. Social Globalization * How Wired Is Your Country or Company? Based on Statistics published at Internet Usage in Europe, Germany is most wired nation in Europe in June 2010. Spain is almost getting there. South Africa on other hand is not showing much progress. * How Fast Is Your Country or Company? Policy on Adapting or Pioneering new things * Is Your Company or Country a Shaper or an Adapter? Education and Innovation * Is Your Country or Company Harvesting Its Knowledge? * How Much...
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...costs to the economy in terms of inefficient production, but social costs such as monetary inequality, crime rate and poverty must be taken in account as well. Fig 1: Eurostat, 2012, http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home/ Being one of the most severely influenced by the crisis above all EU countries, Spain has a staggering 20% overall unemployment rate and 50% of the amount are youth. (Sinitsky, 2013) The reason for this astronomical rate is indefinite, but it could be instigated by the poorly reformed welfare system, improper allocation of governmental resources and even organizational concerns in the labor market. The reason to discuss about Spain as it is interesting to see a boom in international trade revenue but a disastrous unemployment rate. This essay will then focus on the phenomenon of youth unemployment in Spain and make an attempt to critically evaluate two government policies to reduce the problem. Causes of Youth Unemployment in Spain According to Pablo Miguel, the Spanish youth are suffering from a structural problem as identified by their government, “rooted in causes which go beyond the current economic crisis” (Miguel, 2013) which resulted in a high sensitivity to recession for them. The government has further categorized different structural weaknesses in relation to the youth; namely the high rate of dropouts, skills polarization; where the highly skilled are underemployed and the averagely skilled find it hard to secure jobs...
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...coffee chain and like to expand its business in Spain. Marketers have prepared an original IMC plan based on zero-based planning model. Target markets are mainly tourists (40%), professional (30%), students (20%) and others (10%). This report has analyzed critically Company’s strengths, weaknesses, opportunities and threats in Spain market. Communication objectives can be based on think-feel-do model. Coffee World’s behavioral communication is to offer best product and service to the customer. Marketers will use various MC tools to crack the Spanish market. Campaign message will be “Where The World Meets!” Marketers will use ‘demonstration’ and ‘humor’ strategy to run IMC plan. A detailed IMC plan for Coffee World is discussed in this report. The report will evaluate the effectiveness of proposed IMC plan. Table of Contents Introduction 4 Zero Based Planning 4 Identify Target Market 5 SWOT Analysis 6 Marketing Communication Objectives 8 Developing Strategies & Tactics 10 Integrated Marketing Communication 12 Evaluation Effectiveness 15 Conclusion 15 Appendix 16 References 33 Introduction IMC ensures that all forms of marketing communication (MC) tools and messages are carefully linked together. Kotler et all (2003) defines IMC as: “A way of looking at the whole marketing process from the viewpoint of the customer.” The main purpose of this report is to prepare an IMC plan for Coffee World (Please...
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