...news made many to wonder whether the world is going back to replace Glass Steagall Act which was abolished in 1999.(BBC,21January2010) Glass-Steagall Act(GSA)commonly known as Banking Act 1933 made the investment banks and Commercial Banks to function separately in order to refrain Commercial Banks from greater in securities business activities. This Act prohibited Commercial Banks to underwrite securities to public while it prohibited Investment Banks to accept deposits from customers. (Investopedia,2003). Many argue that commercial banks should not involve in securities(stock/bond)market investments as commercial banks divert funds in investment banking. In other words internal transparency of movements of funds not very clear when operating as a ‘Universal Bank’. Prior to 2007-2009 financial crisis Commercial Banks were greedily involved merely because of profits in securitization business where subprime mortgages were involved. During the rise in property market in 2006,banks created and traded in securitized assets, backed by subprime mortgages. Banks became greedy of making more money through SPV(Special Purpose Vehicle)taking high risks. When borrowers start defaulting loans property price fell down resulting banks holding worthless properties. The main cause was these securitized assets were recorded as off-balance-sheet transactions..( Apostolik, R., et.al.,2008). Banks misusing securitization was one reason why regulators require commercial banks and investment...
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...STRATEGY in the SPECIAL ISSUE NEW WORLD The 10 Trends You Have to Watch | by Eric Beinhocker, Ian Davis, and Lenny Mendonca AFTER A FULL YEAR in heads-down crisis mode, to the evolving role of business in society. Here we discuss how the crisis may affect their trajectories, and we address the implications for strategy. Some trends, we argue, remain firmly on track, but uncertainties are cropping up around others. We also see signs of new forces emerging, which we will be exploring in more detail in the months ahead. The overall picture is of an altered business landscape. It does seem there will be no going back to the precrisis world. hbr.org Are these the right trends to watch? Share your thoughts with the authors at landscape.hbr.org. business executives are looking again to the future. As they reengage in strategic thinking, many are struck by a sense that the world has changed: The turmoil was not merely another turn of the business cycle but a restructuring of the economic order. Is that impression accurate? To answer this question, it is necessary to examine the underlying forces that shape the business environment and to look for discontinuities. McKinsey & Company tracks the most important of these forces, from the growth of emerging markets Lorenzo Petrantoni Eric Beinhocker is a senior fellow at the McKinsey Global Institute, McKinsey & Company’s economics research arm, where he leads research on economic, management, and public policy issues;...
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...Assignment On Globalization and its impact on women rights and empowerment Course Title Development Economics Course Code F-210 Submitted To AlfarunnaharRuma Lecturer Dept. of Economics Submitted By Group- 01 Session: 2010-2011 Finance & Banking JatiyaKabiKaziNazrul Islam University Trishal, Mymensingh Submission Date: 24 January 2013 Members of group one Serial No. | Name | ID Number | 01 | Md.DelowerHossain | 11132601 | 02 | MahimaAkter | 11132602 | 03 | PankazePadaBhoumik | 11132603 | 04 | MahmudulHasan | 11132604 | 05 | SadiqurSattarAkand | 11132605 | Globalization and its impact on women rights and empowerment INTRODUCTION In the 21st century, globalization has become the ‘Zeitgeist’ re-shaping different dimensions in life. Globalization also affects women’s rights and its overall impact on women has become a critical agenda in gender-related studies. In an attempt to empirically investigate this argument, much of the literature focuses on the effects of economic integration on women’s economic activities. These studies look into the impact of globalization on women through an angle of traditional trade theory, comparative advantage and competition, thus analyzing whether economic integration could create more employment opportunities for women and increase their wages. This focus on economic integration and women’s employment raises the question of how certain types of economic reform affect particular forms of women’s rights and welfare. It is not...
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...questions that have been raised are: * Why has India been hit by the crisis? * How has India been hit by the crisis? * How have we responded to the challenge? * What is the outlook for India? Why Has India Been Hit By the Crisis? There is, at least in some quarters, dismay that India has been hit by the crisis. This dismay stems from two arguments. The first argument goes as follows. The Indian banking system has had no direct exposure to the sub-prime mortgage assets or to the failed institutions. It has very limited off-balance sheet activities or securitized assets. In fact, our banks continue to remain safe and healthy. So, the enigma is how can India be caught up in a crisis when it has nothing much to do with any of the maladies that are at the core of the crisis. The second reason for dismay is that India's recent growth has been driven predominantly by domestic consumption and domestic investment. External demand, as measured by merchandize exports, accounts for less than 15 per cent of our GDP. The question then is, even if there is a global downturn, why should India be affected when its dependence on external demand is so limited? The answer to both the above frequently-asked questions lies in globalization. First, India's integration into the world economy over the last decade has been remarkably rapid. Integration into the world implies more than just exports. Going by the common measure of globalization, India's two-way trade (merchandize exports...
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...The Journal of Asian Studies http://journals.cambridge.org/JAS Additional services for The Journal of Asian Studies: Email alerts: Click here Subscriptions: Click here Commercial reprints: Click here Terms of use : Click here Architecture of Bali: A Source Book of Traditional and Modern Forms. By Made (Michael White) Wijaya. Honolulu: University of Hawai Press, 2002. 224 pp. \$50.00(cloth). Mary-Louise Totton The Journal of Asian Studies / Volume 63 / Issue 02 / May 2004, pp 566 - 568 DOI: 10.1017/S0021911804001615, Published online: 26 February 2007 Link to this article: http://journals.cambridge.org/abstract_S0021911804001615 How to cite this article: Mary-Louise Totton (2004). Review of Made (Michael White) Wijaya 'Architecture of Bali: A Source Book of Traditional and Modern Forms' The Journal of Asian Studies, 63, pp 566-568 doi:10.1017/S0021911804001615 Request Permissions : Click here Downloaded from http://journals.cambridge.org/JAS, IP address: 192.43.227.18 on 22 Mar 2014 566 THE JOURNAL OF ASIAN STUDIES undoubtedly agree that the great strength of his scholarship lies in his vision. At his best, although he may not footnote every thought, each paragraph contains the seeds of a PhD dissertation. So, graduate students and Wang Gungwu fans take note: at times in this volume, he is indeed at his very best! L IAM C. K ELLEY University of Hawai‘i at Manoa Architecture of Bali: A Source Book of Traditional and Modern Forms. By M ADE W IJAYA (M...
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...The Idea of Pakistan 1. The central question that Stephen Cohen grapples with in his book, The Idea of Pakistan, is what is Pakistan? Is it a ‘rogue state’, ‘a delinquent nation’, ‘Taliban East’ a ‘failing state’ or just ‘misunderstood but an effective US ally’ (p. 2)? To probe beyond these descriptions of Pakistan, Cohen has two purposes in mind. First, he wants to demonstrate why Indian Muslims felt the need for a separate homeland to pursue their ‘civilizational destiny’. Second, he wants to narrate how the state of Pakistan has evolved into a military-dominated entity that has nuclear capabilities, hostile relations with its neighbours and is characterized by weak economic institutions and socio-political strife. It is clear from this narrative, that Cohen wants to understand Pakistan’s past to predict the future - whether Pakistan will fail as a state or manage to scrape through all its troubles and emerge as a ‘normal state at peace with its neighbours’? 2. Cohen’s point of departure is to assess ‘failure’- a term that he thinks is imprecisely used to describe Pakistan. He argues that to make such an accusation one needs a nuanced definition of failure. If failure is defined as the inability to live up to past expectations, to deal with catastrophe, to run a successful economy and to lead the country with a certain vision in mind, then Pakistan’s performance has been dismal. But Cohen pushes the line that it is not a failed state as the possibility of resurrection...
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...Globalization and the Caste System in India Mimi Winters Abstract India has experienced significant economic growth as a direct result of globalization even during the current global economic crisis. Yet many argue that this success does not reach all levels of Indian society. Indeed, some argue that globalization has actually had a negative impact on the lowest members of Indian society, the Dalits. This paper explores both sides of the argument by briefly explaining India’s 3,000-year-old caste system and its influence or lack of influence on the reduction of poverty among the Dalits. Globalization and the Caste System in India India is becoming one of the most significant players in the world economy today. Its rapid economic growth can be contributed to its increasing role in the global community. “Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997” (Central Intelligence Agency, 2012, para. 3). India’s GDP was estimated at $4.463 trillion with a real growth rate of 7.8% and $3,700 per capita in 2011 (2012, para. 14). A majority of this success can be directly contributed to globalization. Although growth is expected to slow due to the global economic crisis, India is still experiencing...
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...Table of Content I. Introduction 3 II. Cultural diversity 3 II.1. Advantages of cultural diversity 4 II.2. Disadvantages of cultural diversity 5 III. Organizational Culture 5 IV. Management strategies to overcome issues related to cultural diversity 7 V. Globalization 8 VI. Conclusion 9 VII. References 11 I. Introduction Immigration plays a big role in today’s business world. Especially the hospitality and tourism industry is highly affected, as this industry offers a large number of unskilled positions that can easily be provided to immigrants (Hearns, Devine & Baum, 2007). The intention of these workers who go abroad is mainly the chance to earn higher wages in the chosen foreign country (D’Netto & Sohal, 1999). According to these facts the workforce, especially in the hospitality industry, is becoming more and more diverse which can lead to either advantages or disadvantages (Kandola & Fullerton, 1998; Gröschl & Doherty, 1999; Kreitner, 2004 in Hearns, Devine & Baum, 2007). In order to overcome issues and conflicts related to cultural diversity, key authors such as Gundling & Zanchettin (2007), Primer (2000), D’Netto & Sohal (1999) , Graf (2003) and Lund (2003) have pointed out the possibility to implement diversity management strategies that help employees with the adaptation process. II. Cultural diversity Culture is a term that has many definitions in academia; Hofstede (2001) introduces culture as “the collective programming of the mind that distinguishes...
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...Think Strategically This page intentionally left blank T H I N K STRATEGICALLY Xavier Gimbert Associate Professor, Business Policy Department, ESADE Business School © Xavier Gimbert 2011 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2011 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and...
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...big. By one estimate, it has the fourth highest GDP in Africa, giving it a standard of living which countries such as Mexico or Turkey has right now. One of the biggest reasons that Botswana has experienced a success story was that they were not in the eyes of the big european colonization in the beginning of the 19th century. Many African countries were being colonized at that time, losing their resources and cultures. Botswana was not united back then, there were members of related African tribes which migrated to the area in the middle of the 18th century. Another reason for this success story is that Botswana did not get affected by the Dutch disease. This term means that the increase in exploitation of natural resources can reverse the industrialization of a country by decreasing the exchange rate. The Botswanan Central Bank knew that they had to manage their currency so that the competition in their domestic industry was maintained. Botswana managed to pull this off. This showed that they made smart moves economically, which...
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...Depreciating Rupee: Introduction: Depreciation refers to a fall in the value of the domestic currency which is caused by the demand for foreign currency exceeding its supply in the market. In such a situation one has to pay more than before to get units of foreign currency. This fall takes place in the market and on its own. Market determined exchange rate serves the purpose of aligning the domestic economy with the world economy was the price route. As consequences the domestic price gets linked up with those of the world price. With the liberalizations and globalization of the economy in recent years, imports are bound to increase. The lessening of restrictions on imports and lowering of tariff on imports which the economic reform implies, an increase in imports has in fact taken place. Again with trade having become an important element of the new strategy of growth. As per the basic laws of economics if the demand for USD in India exceeds its supply then it’s worth will go up and that of the INR will come down in that respect. It may be that importers are the major entities who are in need of the dollar for making their payments. Likelihood here could be that the Foreign Institutional Investors are retreating their investments in the country and taking them elsewhere. This can create a shortfall in supply of the dollar in India. This state of affairs can only be addressed by exporters who can bring in dollars in the system....
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...GLOBALIZATION AND ITS IMPACT ON BANGLADESH ECONOMY A thesis presented to the Faculty of the U.S. Army Command and General Staff College in partial fulfillment of the requirements for the degree MASTER OF MILITARY ART AND SCIENCE Strategy by RAHMAN MD FAIZUR, MAJOR, BANGLADESH M.D.S., National University of Bangladesh, 2004 Fort Leavenworth, Kansas 2005 Approved for public release; distribution is unlimited. REPORT DOCUMENTATION PAGE Form Approved OMB No. 0704-0188 Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing this collection of information. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to Department of Defense, Washington Headquarters Services, Directorate for Information Operations and Reports (0704-0188), 1215 Jefferson Davis Highway, Suite 1204, Arlington, VA 222024302. Respondents should be aware that notwithstanding any other provision of law, no person shall be subject to any penalty for failing to comply with a collection of information if it does not display a currently valid OMB control number. PLEASE DO NOT RETURN YOUR FORM TO THE ABOVE ADDRESS. 1. REPORT DATE (DD-MM-YYYY) 2. REPORT TYPE 3. DATES COVERED (From - To) 17-06-2005 ...
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...STRATEGIES FOR COMPETING IN INTERNATIONAL MARKETS: A GLOBAL INDUSTRY PERSPECTIVE Why Companies Expand into Foreign Markets Companies opt to expand outside their domestic market for any of four major reasons: * To gain access to new customers, raw materials, capital, skills and expertise – expanding into foreign firms offers the potential for increased revenues, profits, and long term growth even more so when home markets are mature. * To achieve lower costs and enhance the firm’s competitiveness - Sales volume from one country isn’t enough to fully capture manufacturing economies of scale. * To capitalize on its core competencies - A company with a competitively valuable competency or capability might be able to leverage themselves and make this competency work in a foreign market, too. * To spread its business risk across a wider market base - Companies may move abroad to diversify their risk associated with being in a single economy (e.g. foreign exchange risk, political risk). If the economy in one area falls, the firm might be ok in different economic markets. In addition to why companies expand into foreign markets, there are four other situational considerations unique to international operations: * Country to Country Cost Variations – Differences in wage rates, workers productivity, inflations rates, energy costs, tax rates, government regulations, etc crate sizeable variations in manufacturing costs from country to country. Plants in some countries...
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...The Travels of a T-Shirt in the Global Economy The opening of this story begins with an organized student protest at Georgetown University, where author Pietra Rivoli, who is a professor of finance and international business, is watching the students arguing statements. This immediately captures my attention as it begins to describe a common characteristic of a major University that I live near and attend many events at. The University’s organized peaceful protest allowed the public speaking through protesting on the topic of the evils of big corporations and the explanation of how these big corporations, Globalization, The World Trade Organization (WTO) and the international Monetary Fund (IMF) are exploiting workers all around the world. One speaker alluding to “sweat shops” particularly caught the attention of the author by exclaiming, “Who made your T-Shirt”? This statement sparked Rivoli’s intrigue that is a great use of foreshadowing for what the story will lead to. The traveling of thousands of miles and across multiple continents to find out “who” really did make these shirts. We all wear our everyday cotton “tee’s” without giving a second thought about the journey each T-Shirt had to go through in order to make it here to the United States. This sets the foundation for the rest of the book and explains its purpose. The first stop in this journey isn’t on foreign soil where I expected the book to lead off, but rather here in the Continental United States at the Reinsch...
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...and Competencies 11 Competitive Challenges Influencing Human Resource Management 14 Key Terms 61 Discussion Questions 61 Self-Assessment Exercise 62 Exercising Strategy 62 Managing People Skill Shortages Make It Difficult to Fill Positions and Customer Orders 63 Twitter Focus 64 Notes 64 Parti The Human Resource Environment 69 2 Strategic Human Resource Management 70 The Sustainability Challenge 14 Enter the World of Business: HP's New Strategy 71 Evidence-Based HR 24 Introduction 72 Competing through Sustainability Volunteerism and Going Green Are Reaping Dividends for Employees, Communities, and the Environment 30 What Is a Business Model? 72 GM's Attempt to Survive 73 What Is Strategic Management? 74 Components of the Strategic Management Process 75 Linkage between HRM and the Strategic Management Process 75 The Global Challenge 44 Competing through Globalization Apple Polishes Its Image through Auditing Overseas Suppliers 47 The Technology Challenge 48 Competing through Technology Connectiveness Enhances HR Practices 51 Meeting Competitive Challenges through HRM Practices 56 Organization of This Book 59 A Look Back 60 Summary 60...
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