This chapter discusses the major marketplaces and business centers around the world. It covers North America, Western Europe, Eastern Europe and Central Asia, Asia, Africa and the Middle East, and South America. For each region, it provides data on population, GDP, and key economic and political factors relevant for international business. The chapter aims to outline the various opportunities and challenges present in different markets globally.
This chapter introduces international business and discusses its importance. It describes the differences between domestic and international business in terms of boundaries, currencies, legal systems and cultures. It also outlines the basic forms of international business activities such as exporting, importing and foreign direct investment. Finally, it examines the causes and trends of globalization, including the rise of emerging markets.
This document outlines an integrated marketing communication plan to promote tourism in Thailand. The plan aims to increase tourism by 5% annually through advertising, public relations, sales promotions, and interactive tactics. Key elements include developing a logo featuring the Thai fairy Kin-Na-Ree; creating two TV commercials, four print ads, and two radio spots; organizing promotional events; and partnering with hotels, airlines, and media outlets. The budget will be allocated across television, radio, print, out-of-home, and digital media.
South Asia Economic and Social DevelopmentRP Pamplona
South Asia has some of the highest levels of poverty in the world due to factors like poor nutrition, though economic development has been uneven across countries. While India and Bangladesh struggle with widespread poverty, other nations like Sri Lanka, Maldives and Bhutan have more prosperous economies focused on industries like tourism and fishing. India in particular shows strong divisions in development, with southern and western areas growing faster than the north and east. Overall social development also lags in areas of health, education and gender equality, though some regions like Kerala set positive examples through policies promoting education, women's rights and family planning.
South Korea transformed from an underdeveloped agrarian economy in the 1960s to the 11th largest economy in the world by 2016. This was driven by export-oriented policies that increased exports from 19.2% of GDP in 1962 to 56.3% in 2012. South Korea also invested heavily in innovation, ranking among the top countries in R&D spending. However, challenges remain such as a aging population and limited natural resources. To maintain growth, South Korea needs continued support for innovation and business.
The document provides an overview of international markets categorized by region. It discusses the major regional markets including Western Europe, Eastern and Central Europe, North America, Asia-Pacific, Oceania, Middle East, Latin America, and Africa. For each region, it summarizes key characteristics such as geography, economies, languages, and notes factors important to consider when marketing in those regions. It also provides brief profiles and considerations for major countries within the Asia-Pacific market.
Emerging trend in karnataka tourism by SUDHIR KIRANSudhir Devadiga
The document discusses emerging trends in tourism in Karnataka, India. It outlines objectives to examine emerging concepts, developments, challenges and strategies. Karnataka is emerging as a favored tourist destination due to improvements in infrastructure like roads, rail, and the Bangalore Metro. New tourism concepts being developed include health, eco, spa, cruise, rural, and MICE tourism. Challenges include developing human resources and managing sustainable growth. Strategies proposed include specialized offerings, inventory of resources, demand analysis, and maintaining ecological balance. Future trends will be influenced by technology and new tourist demands.
The document discusses Pakistan's agricultural sector and the challenges it faces in becoming an Asian Tiger economy. Some of the major problems in the agricultural sector include limited cultivable land, water logging and salinity issues, low crop yields, outdated farming methods, lack of infrastructure and research, and uneconomic land holdings. To address these issues, the document suggests measures such as providing farmers access to credit, improved seeds and machinery, investing in irrigation infrastructure, and expanding agricultural research. Overall, developing the agricultural sector through modernization and overcoming resource constraints is key to strengthening Pakistan's economy.
This chapter introduces international business and discusses its importance. It describes the differences between domestic and international business in terms of boundaries, currencies, legal systems and cultures. It also outlines the basic forms of international business activities such as exporting, importing and foreign direct investment. Finally, it examines the causes and trends of globalization, including the rise of emerging markets.
This document outlines an integrated marketing communication plan to promote tourism in Thailand. The plan aims to increase tourism by 5% annually through advertising, public relations, sales promotions, and interactive tactics. Key elements include developing a logo featuring the Thai fairy Kin-Na-Ree; creating two TV commercials, four print ads, and two radio spots; organizing promotional events; and partnering with hotels, airlines, and media outlets. The budget will be allocated across television, radio, print, out-of-home, and digital media.
South Asia Economic and Social DevelopmentRP Pamplona
South Asia has some of the highest levels of poverty in the world due to factors like poor nutrition, though economic development has been uneven across countries. While India and Bangladesh struggle with widespread poverty, other nations like Sri Lanka, Maldives and Bhutan have more prosperous economies focused on industries like tourism and fishing. India in particular shows strong divisions in development, with southern and western areas growing faster than the north and east. Overall social development also lags in areas of health, education and gender equality, though some regions like Kerala set positive examples through policies promoting education, women's rights and family planning.
South Korea transformed from an underdeveloped agrarian economy in the 1960s to the 11th largest economy in the world by 2016. This was driven by export-oriented policies that increased exports from 19.2% of GDP in 1962 to 56.3% in 2012. South Korea also invested heavily in innovation, ranking among the top countries in R&D spending. However, challenges remain such as a aging population and limited natural resources. To maintain growth, South Korea needs continued support for innovation and business.
The document provides an overview of international markets categorized by region. It discusses the major regional markets including Western Europe, Eastern and Central Europe, North America, Asia-Pacific, Oceania, Middle East, Latin America, and Africa. For each region, it summarizes key characteristics such as geography, economies, languages, and notes factors important to consider when marketing in those regions. It also provides brief profiles and considerations for major countries within the Asia-Pacific market.
Emerging trend in karnataka tourism by SUDHIR KIRANSudhir Devadiga
The document discusses emerging trends in tourism in Karnataka, India. It outlines objectives to examine emerging concepts, developments, challenges and strategies. Karnataka is emerging as a favored tourist destination due to improvements in infrastructure like roads, rail, and the Bangalore Metro. New tourism concepts being developed include health, eco, spa, cruise, rural, and MICE tourism. Challenges include developing human resources and managing sustainable growth. Strategies proposed include specialized offerings, inventory of resources, demand analysis, and maintaining ecological balance. Future trends will be influenced by technology and new tourist demands.
The document discusses Pakistan's agricultural sector and the challenges it faces in becoming an Asian Tiger economy. Some of the major problems in the agricultural sector include limited cultivable land, water logging and salinity issues, low crop yields, outdated farming methods, lack of infrastructure and research, and uneconomic land holdings. To address these issues, the document suggests measures such as providing farmers access to credit, improved seeds and machinery, investing in irrigation infrastructure, and expanding agricultural research. Overall, developing the agricultural sector through modernization and overcoming resource constraints is key to strengthening Pakistan's economy.
This chapter provides an overview of the global economy and different economic systems. It discusses the increasing economic integration around the world and how production has become unlinked from individual countries. Various economic systems are examined, including variations of market capitalism and centrally planned socialism. Countries and regions are classified based on their level of economic development. The chapter also introduces concepts like the balance of payments and foreign exchange, and how companies can manage economic exposure from currency fluctuations in international business.
This chapter provides an overview of the global economy and different economic systems. It discusses the increasing economic integration around the world and how production has become unlinked from individual countries. Various economic systems are examined, including market capitalism, centrally planned socialism, and mixed models. Countries and regions are classified based on income levels and stages of market development. The chapter also addresses concepts such as economic freedom rankings, opportunities in developing markets, and issues around a country's balance of payments.
This chapter discusses the global economy and economic systems. It provides an overview of the stages of market development and the balance of payments. It describes the different types of economic systems including market capitalism, centrally planned socialism, and centrally planned capitalism. It also discusses groups like the G8, OECD, and concepts like economic freedom, saturation levels, and managing foreign exchange exposure.
International Marketing of Aarong's Milk Powder in MalaysiaMasrur Rahman Faraz
Aarong is a household brand in Bangladesh, exporting to over 15 countries. Malaysia was chosen to create an International Marketing Plan for their "Low Fat Milk Powder" product, mainly as an alternative product to their local raw milk products due to the health hazard issues they had in 2016. Minimal shipment costs & industry attractiveness also played a part, although the market poses some difficulties with regards to their legal structure for international businesses.
This document provides an overview of global marketing concepts. It defines global marketing as marketing activities that take place outside a company's home country market. It discusses the differences between standardization and adaptation approaches in global marketing strategy and product development. It also outlines different orientations companies can take in their global management, including ethnocentric, polycentric, regiocentric, and geocentric. Forces that both enable and restrain global integration are discussed.
This document provides an overview of Southeast Asia, outlining key topics covered in the chapter including physical geography, climate, environment, population trends, economics, urbanization patterns, and brief descriptions of individual countries. The region experienced colonialism followed by a shift to export-oriented industrialization. Some countries modernized their economies through manufacturing and foreign investment, while others reformed as socialist states. Urbanization and economic growth are spatially concentrated, creating development challenges.
The Greater Dublin Area (GDA region) is an example of a core socio-economic region in Ireland. It is comprised of four counties: Dublin, Meath, Kildare and Wicklow. This core region is often contrasted with the peripheral socio-economic region - the BMW or Border Midlands and West region. The GDA is studied for both higher and ordinary level Leaving Certificate Geography in Ireland.
Module 1 Foundations of International Business in Asia Pacific.pptxNHITRNQUNH2
1. Understand the global business environment
2. Understand major development trends in the Asia–Pacific region today
3. Recognise the global risks when companies trade internationally
Informal Sector and the Challenges of Development in South AfricaDr Lendy Spires
• After nearly two decades since the ending of apartheid colonialism, poverty, unemployment, inequality, and environmental degradation remain persistent problems
• In seeking to improve the quality of life for all its inhabitants, South Africa must also reduce poverty, create employment, and redress widening inequalities
• Both at national and provincial levels, policy development aims to enhance inclusive development
• 1950s and 1960s, modernisation theory made people to believe that traditional forms of work and production would disappear as a result of economic progress in developing countries
• Initially viewed as a site of simple and adapted technologies
• These technologies were viewed as responsible for the static nature of the informal sector
• Viewed as marginal in terms of place and contribution to the economy
• These observations do not apply uniformly in the informal sector
• The informal sector is linked to the formal economy
• Produces, distributes, and provides services to the formal economy
• The taxi industry which is mostly unregulated has close linkages with the formal vehicle companies, petrol and insurance industries
• The paper company Mondi owns 117 waste recycling centres in South Africa
• These centres are supplied by more than 300 waste collectors who are some of the most marginal workers in the informal economy
• Neither the public sector nor the private sector is able to provide enough jobs for the expanding labour force
• Informal sector is increasingly recognised as an alternative option to the growing unemployment, particularly among the youth and the poor
• Efforts to improve the performance of the sector should be seen in light of the potential contribution of informal sector to increasing the overall performance of the economy including its provincial and local productive economic capabilities
• Our emphasis is on the relative importance of the sector in the economy of South Africa
• Our contribution is on the policy logic and implications for evidence-base policy development and innovation
• Policy development and innovation can lead to improved performance of the informal sector particularly in the context of increasing need to reduce poverty and increase employment opportunities in South Africa
• Initially, studies of informal sector tended to be decontextualised
• Increased attention has been towards understanding the informal sector within its historical, geographical, political, and social context
• In the developed world, informal sector is often seen as a product and driver of advanced capitalism
• By contrast, in the developing world the largest part of informal sector tends to occur in the form of self- employment
The document discusses several major trade blocs around the world including their objectives and impacts. It provides details on the European Union (EU), describing it as the world's largest trading bloc. It outlines the goals and benefits of the North American Free Trade Agreement (NAFTA) for the US, Canada, and Mexico. It also briefly discusses the South Asian Association for Regional Cooperation (SAARC) and the Association of Southeast Asian Nations (ASEAN) as important trade blocs in other regions.
This document introduces business English and key economic concepts. It discusses how business English has specialized vocabulary and communication skills. It defines the economy as the relationship between production, trade, and money supply in a country or region. It also discusses economic activity, outlook, crises, and data. Finally, it outlines the three sectors of economy - primary, secondary, and tertiary. The primary sector extracts raw materials from the earth. The secondary sector involves manufacturing finished goods. The tertiary sector is the service industry.
The document discusses the potential for tourism and horticulture industries in North East India and issues constraining their growth. It identifies problems like communication bottlenecks, ethnic clashes, insurgency, lack of infrastructure and tourism policy. Suggested solutions include increased government investment, developing infrastructure, framing proper policies, and restoring peace. Bamboo and horticulture are highlighted as areas with scope for growth but facing challenges of transportation and outdated technologies. Developing rail networks is mentioned as important for the region's development due to its current limitations.
This document provides an overview of Southeast Asia, including its landforms, climate, colonial history, population trends, economic development, key countries and cities. Some of the main points covered include the region's tropical climate and mix of islands and peninsulas, the impact of colonialism in creating a core-periphery economic system, recent economic growth led by countries like Singapore, Malaysia, Thailand and Vietnam, and ongoing issues related to population growth, urbanization, and balancing development across regions.
Chapter-3 Marketing: Analyzing the Marketing EnvironmentYousif Solangi
The document outlines the key components of a company's marketing environment, including the microenvironment and macroenvironment. The microenvironment includes factors close to the company like its departments, suppliers, marketing intermediaries, customers, and publics. The macroenvironment comprises broader forces like demographic, economic, natural, technological, political, and cultural factors in the environment. The document discusses how companies must analyze and respond to changes in both the micro and macroenvironments that impact marketing activities.
The document discusses the importance of tourism to the UK economy and government policy around developing the tourism sector. It notes that tourism contributes over £90 billion annually to the UK economy, supports over 4% of jobs, and can regenerate run-down areas. The government aims to increase tourism spending and jobs by attracting more international visitors and promoting domestic tourism. Productivity improvements are also a priority so the sector remains competitive globally. Tourism is seen as an effective way to stimulate local economic growth and job creation across the country.
The document discusses the roles and functions of various government, intergovernmental, and private agencies in influencing and supporting the travel and tourism sector at international, national, and local levels through activities like policymaking, promotion, funding, and development. It also examines how economic factors and political changes can impact tourism and how governments aim to maximize tourism's benefits while minimizing its negative effects.
The document discusses options for supporting upland farming in the UK after Brexit. It argues that most UK agriculture is uncompetitive in global markets and upland farming provides little direct economic value. However, uplands provide valuable natural capital in the form of moors, peat bogs, rivers, and habitats that support biodiversity and carbon sequestration. Support for upland farming after Brexit could focus on maintaining this natural capital through payments for providing public goods like environmental services. Support mechanisms may include direct payments to farmers, payments from users and industries that benefit from natural capital, and grants from conservation organizations. The objective is for upland farming to sustain rural communities and landscapes while providing environmental services like biodiversity and water management.
The document discusses different economic systems and stages of economic development around the world. It outlines four main economic systems - market capitalism, centrally planned socialism, centrally planned capitalism, and market socialism. It then analyzes degrees of economic freedom, stages of market development, emerging markets, income levels of countries, and leading trade organizations and country groupings. Key trade blocs and organizations mentioned include the G7, OECD, European Union, and definitions for high, upper-middle, lower-middle, and low income countries based on GNP per capita.
This document discusses economic activities and development around the world. It describes the primary, secondary, tertiary and quaternary economic activities. It then examines geographical divisions of labor on national, regional and local levels. It discusses international trade and specialization between countries. It analyzes newly industrializing countries, Asian Tiger economies, and post-industrial economies. Finally, it explores concepts like globalization, international trade blocs, economic dependency, and fair trade alternatives.
This document discusses organizational commitment and withdrawal. It defines three forms of organizational commitment - affective, continuance, and normative commitment. It also discusses the exit-voice-loyalty-neglect framework for responses to negative events. Withdrawal is defined as actions employees take to avoid work, and the forms of withdrawal are often correlated and can progress from lateness to absenteeism to quitting. The document concludes that employee commitment is higher when employers are also committed to employees through support, job security, rewards, work conditions, and minimizing politics.
This document defines and describes the key components of job performance: task performance, citizenship behavior, and counterproductive behavior. It explains that task performance involves the core technical responsibilities of one's job as defined by a job analysis. Citizenship behavior consists of voluntary contributions that help the organization but may not be formally rewarded. Counterproductive behavior intentionally hinders organizational goals. While these dimensions are related, counterproductive behavior is most strongly negatively correlated with citizenship behavior. The document also discusses tools for managing job performance, such as management by objectives and forced rankings.
This chapter provides an overview of the global economy and different economic systems. It discusses the increasing economic integration around the world and how production has become unlinked from individual countries. Various economic systems are examined, including variations of market capitalism and centrally planned socialism. Countries and regions are classified based on their level of economic development. The chapter also introduces concepts like the balance of payments and foreign exchange, and how companies can manage economic exposure from currency fluctuations in international business.
This chapter provides an overview of the global economy and different economic systems. It discusses the increasing economic integration around the world and how production has become unlinked from individual countries. Various economic systems are examined, including market capitalism, centrally planned socialism, and mixed models. Countries and regions are classified based on income levels and stages of market development. The chapter also addresses concepts such as economic freedom rankings, opportunities in developing markets, and issues around a country's balance of payments.
This chapter discusses the global economy and economic systems. It provides an overview of the stages of market development and the balance of payments. It describes the different types of economic systems including market capitalism, centrally planned socialism, and centrally planned capitalism. It also discusses groups like the G8, OECD, and concepts like economic freedom, saturation levels, and managing foreign exchange exposure.
International Marketing of Aarong's Milk Powder in MalaysiaMasrur Rahman Faraz
Aarong is a household brand in Bangladesh, exporting to over 15 countries. Malaysia was chosen to create an International Marketing Plan for their "Low Fat Milk Powder" product, mainly as an alternative product to their local raw milk products due to the health hazard issues they had in 2016. Minimal shipment costs & industry attractiveness also played a part, although the market poses some difficulties with regards to their legal structure for international businesses.
This document provides an overview of global marketing concepts. It defines global marketing as marketing activities that take place outside a company's home country market. It discusses the differences between standardization and adaptation approaches in global marketing strategy and product development. It also outlines different orientations companies can take in their global management, including ethnocentric, polycentric, regiocentric, and geocentric. Forces that both enable and restrain global integration are discussed.
This document provides an overview of Southeast Asia, outlining key topics covered in the chapter including physical geography, climate, environment, population trends, economics, urbanization patterns, and brief descriptions of individual countries. The region experienced colonialism followed by a shift to export-oriented industrialization. Some countries modernized their economies through manufacturing and foreign investment, while others reformed as socialist states. Urbanization and economic growth are spatially concentrated, creating development challenges.
The Greater Dublin Area (GDA region) is an example of a core socio-economic region in Ireland. It is comprised of four counties: Dublin, Meath, Kildare and Wicklow. This core region is often contrasted with the peripheral socio-economic region - the BMW or Border Midlands and West region. The GDA is studied for both higher and ordinary level Leaving Certificate Geography in Ireland.
Module 1 Foundations of International Business in Asia Pacific.pptxNHITRNQUNH2
1. Understand the global business environment
2. Understand major development trends in the Asia–Pacific region today
3. Recognise the global risks when companies trade internationally
Informal Sector and the Challenges of Development in South AfricaDr Lendy Spires
• After nearly two decades since the ending of apartheid colonialism, poverty, unemployment, inequality, and environmental degradation remain persistent problems
• In seeking to improve the quality of life for all its inhabitants, South Africa must also reduce poverty, create employment, and redress widening inequalities
• Both at national and provincial levels, policy development aims to enhance inclusive development
• 1950s and 1960s, modernisation theory made people to believe that traditional forms of work and production would disappear as a result of economic progress in developing countries
• Initially viewed as a site of simple and adapted technologies
• These technologies were viewed as responsible for the static nature of the informal sector
• Viewed as marginal in terms of place and contribution to the economy
• These observations do not apply uniformly in the informal sector
• The informal sector is linked to the formal economy
• Produces, distributes, and provides services to the formal economy
• The taxi industry which is mostly unregulated has close linkages with the formal vehicle companies, petrol and insurance industries
• The paper company Mondi owns 117 waste recycling centres in South Africa
• These centres are supplied by more than 300 waste collectors who are some of the most marginal workers in the informal economy
• Neither the public sector nor the private sector is able to provide enough jobs for the expanding labour force
• Informal sector is increasingly recognised as an alternative option to the growing unemployment, particularly among the youth and the poor
• Efforts to improve the performance of the sector should be seen in light of the potential contribution of informal sector to increasing the overall performance of the economy including its provincial and local productive economic capabilities
• Our emphasis is on the relative importance of the sector in the economy of South Africa
• Our contribution is on the policy logic and implications for evidence-base policy development and innovation
• Policy development and innovation can lead to improved performance of the informal sector particularly in the context of increasing need to reduce poverty and increase employment opportunities in South Africa
• Initially, studies of informal sector tended to be decontextualised
• Increased attention has been towards understanding the informal sector within its historical, geographical, political, and social context
• In the developed world, informal sector is often seen as a product and driver of advanced capitalism
• By contrast, in the developing world the largest part of informal sector tends to occur in the form of self- employment
The document discusses several major trade blocs around the world including their objectives and impacts. It provides details on the European Union (EU), describing it as the world's largest trading bloc. It outlines the goals and benefits of the North American Free Trade Agreement (NAFTA) for the US, Canada, and Mexico. It also briefly discusses the South Asian Association for Regional Cooperation (SAARC) and the Association of Southeast Asian Nations (ASEAN) as important trade blocs in other regions.
This document introduces business English and key economic concepts. It discusses how business English has specialized vocabulary and communication skills. It defines the economy as the relationship between production, trade, and money supply in a country or region. It also discusses economic activity, outlook, crises, and data. Finally, it outlines the three sectors of economy - primary, secondary, and tertiary. The primary sector extracts raw materials from the earth. The secondary sector involves manufacturing finished goods. The tertiary sector is the service industry.
The document discusses the potential for tourism and horticulture industries in North East India and issues constraining their growth. It identifies problems like communication bottlenecks, ethnic clashes, insurgency, lack of infrastructure and tourism policy. Suggested solutions include increased government investment, developing infrastructure, framing proper policies, and restoring peace. Bamboo and horticulture are highlighted as areas with scope for growth but facing challenges of transportation and outdated technologies. Developing rail networks is mentioned as important for the region's development due to its current limitations.
This document provides an overview of Southeast Asia, including its landforms, climate, colonial history, population trends, economic development, key countries and cities. Some of the main points covered include the region's tropical climate and mix of islands and peninsulas, the impact of colonialism in creating a core-periphery economic system, recent economic growth led by countries like Singapore, Malaysia, Thailand and Vietnam, and ongoing issues related to population growth, urbanization, and balancing development across regions.
Chapter-3 Marketing: Analyzing the Marketing EnvironmentYousif Solangi
The document outlines the key components of a company's marketing environment, including the microenvironment and macroenvironment. The microenvironment includes factors close to the company like its departments, suppliers, marketing intermediaries, customers, and publics. The macroenvironment comprises broader forces like demographic, economic, natural, technological, political, and cultural factors in the environment. The document discusses how companies must analyze and respond to changes in both the micro and macroenvironments that impact marketing activities.
The document discusses the importance of tourism to the UK economy and government policy around developing the tourism sector. It notes that tourism contributes over £90 billion annually to the UK economy, supports over 4% of jobs, and can regenerate run-down areas. The government aims to increase tourism spending and jobs by attracting more international visitors and promoting domestic tourism. Productivity improvements are also a priority so the sector remains competitive globally. Tourism is seen as an effective way to stimulate local economic growth and job creation across the country.
The document discusses the roles and functions of various government, intergovernmental, and private agencies in influencing and supporting the travel and tourism sector at international, national, and local levels through activities like policymaking, promotion, funding, and development. It also examines how economic factors and political changes can impact tourism and how governments aim to maximize tourism's benefits while minimizing its negative effects.
The document discusses options for supporting upland farming in the UK after Brexit. It argues that most UK agriculture is uncompetitive in global markets and upland farming provides little direct economic value. However, uplands provide valuable natural capital in the form of moors, peat bogs, rivers, and habitats that support biodiversity and carbon sequestration. Support for upland farming after Brexit could focus on maintaining this natural capital through payments for providing public goods like environmental services. Support mechanisms may include direct payments to farmers, payments from users and industries that benefit from natural capital, and grants from conservation organizations. The objective is for upland farming to sustain rural communities and landscapes while providing environmental services like biodiversity and water management.
The document discusses different economic systems and stages of economic development around the world. It outlines four main economic systems - market capitalism, centrally planned socialism, centrally planned capitalism, and market socialism. It then analyzes degrees of economic freedom, stages of market development, emerging markets, income levels of countries, and leading trade organizations and country groupings. Key trade blocs and organizations mentioned include the G7, OECD, European Union, and definitions for high, upper-middle, lower-middle, and low income countries based on GNP per capita.
This document discusses economic activities and development around the world. It describes the primary, secondary, tertiary and quaternary economic activities. It then examines geographical divisions of labor on national, regional and local levels. It discusses international trade and specialization between countries. It analyzes newly industrializing countries, Asian Tiger economies, and post-industrial economies. Finally, it explores concepts like globalization, international trade blocs, economic dependency, and fair trade alternatives.
This document discusses organizational commitment and withdrawal. It defines three forms of organizational commitment - affective, continuance, and normative commitment. It also discusses the exit-voice-loyalty-neglect framework for responses to negative events. Withdrawal is defined as actions employees take to avoid work, and the forms of withdrawal are often correlated and can progress from lateness to absenteeism to quitting. The document concludes that employee commitment is higher when employers are also committed to employees through support, job security, rewards, work conditions, and minimizing politics.
This document defines and describes the key components of job performance: task performance, citizenship behavior, and counterproductive behavior. It explains that task performance involves the core technical responsibilities of one's job as defined by a job analysis. Citizenship behavior consists of voluntary contributions that help the organization but may not be formally rewarded. Counterproductive behavior intentionally hinders organizational goals. While these dimensions are related, counterproductive behavior is most strongly negatively correlated with citizenship behavior. The document also discusses tools for managing job performance, such as management by objectives and forced rankings.
This document provides an introduction to organizational behavior. It defines organizational behavior as a field of study focused on understanding and improving individual and group attitudes and behaviors in organizations. It discusses how firms that effectively manage organizational behavior concepts can see benefits like increased profitability and retention. The key ways of knowing about organizational behavior discussed are experience, intuition, authority, and science. The scientific method, which involves developing and testing theories using collected data and statistical analysis, is emphasized as the most reliable approach. Correlations are examined, and it is noted that while they can indicate relationships, causation requires additional evidence. Meta-analysis is introduced as a technique for combining multiple correlation studies.
This document summarizes the key tax consequences of home ownership including:
1) Determining if a home is a principal residence, secondary residence, or non-residence for tax purposes.
2) Calculating taxable gain on the sale of a residence and exclusions for principal residences.
3) Limitations on deducting interest expenses and points paid on loans secured by homes.
4) Deductibility of real property taxes and first-time homebuyer credits.
5) Tax treatment of homes used for both personal and rental use.
1. The chapter discusses how to calculate gains and losses from property dispositions, including determining the amount realized, adjusted basis, and realized/recognized gains and losses.
2. It describes the different character types of gains and losses, such as ordinary, capital, and Section 1231 assets. Depreciation recapture rules may recharacterize some gains as ordinary.
3. Exceptions to immediate gain/loss recognition are discussed, including like-kind exchanges of business or investment property that qualify for nonrecognition treatment.
This document provides an overview of cost recovery methods used in tax law to recover the costs of assets over time. It discusses the concepts of basis, depreciation, amortization, and depletion. Depreciation allows businesses to deduct the costs of tangible personal and real property. Amortization applies to intangible assets and is deducted over a specific period. Depletion allows natural resources to recover their capital costs. The document provides examples of calculating cost recovery for various asset types.
This document summarizes key concepts around business income, deductions, and accounting methods for tax purposes. It describes the general requirements for deducting business expenses and identifies common deductions. It also explains the concept of accounting periods and describes the accounting methods (cash, accrual, hybrid) available to businesses for determining taxable income and expense deductions. Special business deductions are also identified and examples are provided to illustrate concepts like reasonable compensation, the 12-month rule for prepaid expenses, and accounting for advance payments under different methods.
This document provides learning objectives and content about individual income tax computation and tax credits. It covers determining regular and alternative minimum tax liability, computing employment and self-employment taxes, describing types of tax credits including refundable and nonrefundable personal and business credits, and explaining taxpayer filing requirements and penalties. Examples are provided to illustrate concepts like kiddie tax, education credits, and late payment penalties.
This document summarizes key deductions for adjusted gross income (AGI) and itemized deductions on individual tax returns. It discusses deductions directly and indirectly related to business activities, as well as itemized deductions for medical expenses, taxes, interest, charitable contributions, and casualty/theft losses. It also covers the standard deduction and exemptions. The learning objectives are to identify AGI deductions, describe itemized deductions, and explain the standard deduction and exemptions in calculating taxable income.
This chapter discusses gross income and exclusions. It defines gross income for tax purposes and explains when taxpayers recognize income. It discusses the various sources of income, including income from services, property, annuities, and other sources. It also covers the major exclusion provisions that allow taxpayers to exclude or defer certain types of income from gross income, such as municipal bond interest, home sale gains up to $250,000, education-related exclusions, and foreign earned income up to $97,600.
This document summarizes key aspects of individual income tax calculations in the United States, including:
1) It outlines the basic formula for calculating individual tax liability, including components like gross income, deductions, exemptions, taxable income, tax rates, credits, and payments.
2) It describes the requirements for determining personal and dependency exemptions, including the definitions of a qualifying child and qualifying relative.
3) It explains the different filing statuses individuals can use, including married filing jointly, head of household, and qualifying widow. Examples are provided to illustrate how to determine the proper filing status.
This chapter discusses tax compliance and the responsibilities of taxpayers and tax professionals. It covers filing requirements, statutes of limitations, the IRS audit process, tax law sources such as statutes and judicial rulings, tax research procedures, and penalties for noncompliance. The key aspects are requirements to file income tax returns, how the IRS selects returns for audit, the hierarchy of primary and secondary tax authorities, and the potential penalties for taxpayers and tax professionals.
This chapter introduces taxes and their impact. It discusses how taxes influence business, investment, personal and political decisions. It defines what constitutes a tax and identifies different federal, state and local taxes. It also covers tax rate structures, how to calculate taxes, and criteria for evaluating tax systems including sufficiency, equity, certainty, convenience and economy.
This chapter discusses taxation of investments including interest, dividends, capital gains and losses. Interest and dividends are generally taxed as ordinary income. Capital gains are taxed at preferential rates depending on the holding period. Losses can offset gains of the same character and up to $3,000 of ordinary income. Tax planning strategies include holding investments long-term to qualify for lower capital gains rates and loss harvesting. The chapter also covers tax-exempt investments like municipal bonds and life insurance.
The document discusses the key phases of systems development: design, implementation, maintenance, and review. It describes the logical and physical design process, including object-oriented design. Implementation activities like acquiring hardware and software, user training, and testing are also outlined. The importance of ongoing maintenance to fix issues and adapt to changes is highlighted. Systems are regularly reviewed to ensure they continue to meet needs.
This document discusses the key principles and learning objectives for Chapter 12 of the textbook "Principles of Information Systems, Tenth Edition". It covers the importance of teamwork in systems development and identifies the roles of key participants. It also discusses different systems development life cycles like traditional, prototyping, and rapid application development. Finally, it outlines factors that influence the success or failure of systems development projects, including project planning, managing change, and quality standards.
This document discusses principles of knowledge management and specialized information systems. It defines knowledge as awareness and understanding of information that can be useful for tasks or decisions. Knowledge management systems organize people, processes, and technologies to create, store, share, and use organizational knowledge. Artificial intelligence uses computer systems that can mimic human decision making, like expert systems. Expert systems apply rules to arrive at conclusions like a human expert. Virtual reality immerses users in simulated 3D environments using displays and interfaces. Specialized systems provide unique functions for industries, individuals, inventory control and more.
The document discusses principles and objectives of information and decision support systems. It defines management information systems (MIS) as integrated systems that provide the right information to the right people at the right time. Decision support systems (DSS) are used for unstructured problems and include databases, models, and interfaces. Specialized systems like group support systems (GSS) and executive support systems (ESS) build on the DSS approach to support group and executive decision making respectively.
The document discusses transaction processing systems (TPS), enterprise resource planning (ERP) systems, and customer relationship management (CRM). It describes how TPS support basic business functions like order processing and accounting. ERP systems provide integrated software to manage operations across an entire organization. CRM systems help companies manage relationships with customers and improve marketing, sales, and customer service.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
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https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
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INCLUDED FRAMEWORKS/MODELS:
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2. IDEO’s Human-Centered Design
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5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
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15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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Maintaining a proper record of your money is important for any business whether it is small or large. It helps you stay one step ahead in the financial race and be aware of your earnings and any tax obligations.
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Because astute international managers must understand the opportunities available in each of the six inhabited continents, this chapter provides a brief overview of all the world’s marketplaces. Providing an overview of the world economy is a challenge because of its vast size. Much of the world’s current economic activity (about 63 percent) is concentrated in the developed countries of North America, the European Union, and Japan. This is not to suggest that international managers can ignore other markets if they wish to compete successfully. The emerging markets (particularly China and India) are responsible for much of the growth in the world economy. In the twenty-first century, the growth rates of China and India, 10.9 percent and 7.8 percent respectively, have far outpaced Japan’s 1.1 percent, Germany’s 0.9 percent, or the United States’ 2.1 percent.
This chapter’s learning objectives include the following:Evaluating the impact of the political and economic characteristics of the world’s various marketplaces on the opportunities available to international businesses. Appreciating the uses of national income data in making business decisions. Discussing North America as a major marketplace and business center in the world economy.
Additional learning objectives include:Describing Western Europe as a major marketplace and business center in the world economy.Discussing Asia as a major marketplace and business center in the world economy. Assessing the development challenges facing African, Middle Eastern, and South American Countries.
North America includes the United States, Canada, Mexico, Greenland, and the countries of Central America and the Caribbean. Home to 531 million people, these countries produce approximately 29 percent of the world’s output.
This table provides an overview of the major contributors to economic activity in North America. As you can see, the United States has the largest Gross Domestic Product. It also enjoys the highest per capita income of the North American countries.
The United States has the world’s third largest population and fourth largest land mass, yet it possesses the largest economy, accounting for 24 percent of the world’s $58.2 trillion GDP in 2009. Because of its size and political stability, the USA occupies a unique position in the world’s economy, accounting for about one-tenth of exports of goods and services and about one-eighth of imports of goods and services. It is the prime market for lower-income countries trying to raise their standards of living through export-oriented economic development strategies. It is also the prime market for firms from higher-income countries trying to attract business from its large, well-educated middle class.
The U.S. dollar serves as the invoicing currency—the currency in which the sale of goods and services is denominated—for about half of all international transactions. It also is an important component of foreign-currency reserves worldwide. Because of its political stability and military strength, the United States also attracts flight capital—money sent out of a politically or economically unstable country to one perceived as a safe haven. Citizens unsure of the value of their home country’s currency often choose to keep their wealth in dollars. Furthermore, the United States is an important recipient of long-term foreign investment. Foreigners have invested over $2.3 trillion in U.S. factories, equipment, and property as of 2010.
Canada has the world’s second largest land mass, although its population is only 34 million. Eighty percent of the population is concentrated within a 100-mile band along the country’s southern border with the United States. Exports are vital to the Canadian economy, accounting for 24 percent of its 2009 GDP of $1,336 billion (in U.S. Dollars). Canada’s most important exports reflect its rich natural resources: forest products, petroleum, minerals, and grain. The United States is the dominant market for Canadian goods, receiving over three-quarters of Canada’s exports in a typical year. Two-way trade between the United States and Canada, which totaled $609 billion in 2010, forms the single largest bilateral trading relationship in the world.
International investors have long been attracted to Canada because of its proximity to the huge U.S. market and the stability of its political and legal systems. Canada’s excellent infrastructure and educational systems also contribute to the performance of its economy. However, there is a lingering threat of political instability related to the long-standing conflict between Canadians who speak French and those who speak English.
Mexico uses a federal system like the U.S., but its president is elected every 6 years. For many years, Mexico implemented economic nationalism under which it discouraged foreign investment and erected high tariff walls to protect its domestic industries. Over the past two decades, Mexico has abandoned these policies and opened its markets to foreign goods and investors. It joined NAFTA in 1994. To take advantage of NAFTA, thousands of companies have established factories in Mexico. It also has free-trade pacts with El Salvador, Guatemala, Honduras, Japan, Uruguay, and the European Union.
Besides the United States, Canada, and Mexico, the North American continent is occupied by two dozen other countries that are divided geographically into two groups: Central America and the island states of the Caribbean. Collectively their population equals 83 million—more than twice the population of Canada. However, their total GDP of $393 billion is a third of that of Canada. With a few exceptions (notably Costa Rica), the economic development of these countries has suffered from a variety of problems: political instability, chronic U.S. military intervention, inadequate educational systems, a weak middle class, economic policies that have created large pockets of poverty, and import limitations by the United States and other developed countries on Central American and Caribbean goods.
This section covered The Marketplaces of North America. The discussion started by presenting the population, GDP, and per capital GDP for the marketplaces of North America. Then, it provided an overview of the economies of the United States, Canada, Mexico, Central America, and the Caribbean. The next section will focus on The Marketplaces of Western Europe.
Western European countries are among the world’s most prosperous, attracting the attention of businesses eager to market their products to the region’s wealthy consumers. These countries can be divided into two groups: members of the European Union (EU) and other countries in the region.
The European Union comprises 27 countries that are seeking to promote European peace and prosperity by reducing mutual barriers to trade and investment. During the past two decades, the EU has made tremendous strides in achieving this objective. With a 2009 GDP of $16.4 trillion and a population of 499 million, it is one of the world’s richest markets. EU members are free-market-oriented, parliamentary democracies. However, government intervention and ownership generally play an important role. Seventeen EU members have eliminated their national currencies, replacing them with a new common currency known as the Euro.
From an economic perspective, Germany is the EU’s most important member. With a 2009 GDP of $3.3 trillion, it possesses the world’s fourth largest economy. Germany has played a major role in formulating the economic policies of the EU. Politically, France exerts strong leadership within the EU. The French government has been a leading proponent of promoting common European defense and foreign policies, as well as strengthening human rights and workers’ rights in the EU. The United Kingdom’s capital city, London, is a major international finance center. The UK is also a major exporter and importer of goods, an important destination for and source of foreign investment, and home to the headquarters or regional divisions of numerous MNCs.
Some of the newest EU members (Estonia, Latvia, and Lithuania) were part of the Soviet Union. Bulgaria, Hungary, Poland, Slovakia, Romania, and the Czech Republic were allied with the Soviet Union politically. EU member Slovenia declared its independence from communist Yugoslavia in 1991. After the regional trading system established by the Soviet Union broke down in the early 1990s, former Soviet satellite states had to adjust to the loss of guaranteed export markets. They also had to restructure their economies from centrally planned communist systems to decentralized market systems and implement necessary political, legal, and institutional reforms. The Czech Republic, Estonia, and Slovenia are the furthest along in this process, already achieving high-income status according to the World Bank’s measures.
Rich Western European countries that are not EU members include Iceland, Norway, and Switzerland, plus several small, “postage stamp” countries such as Andorra, Monaco, and Liechtenstein. Classified as high income by the World Bank, these free-market-oriented countries collectively account for 2 percent of the world’s GDP. The economies of the Balkan countries of Albania, Bosnia and Herzegovina, Macedonia, Kosovo, Montenegro, and Serbia are classified as middle income by the World Bank. The exception to this is Croatia, which is in the high-income category. Their post-Cold War economic progress was slowed by the chaos that surrounded the disintegration of Yugoslavia in 1991.
This section covered The Marketplaces of Western Europe. The discussion started with an overview of the European Union. The rest of this section discussed the most influential members of the EU and the newest members of the EU. It closed with an overview of countries that have not joined the European Union. The next section will focus on Marketplaces of Eastern Europe and Central Asia.
No area of the world has undergone as much economic change in the past decade and a half as the countries carved out of the former Soviet Union. Many of these countries are still dealing with the aftermath of converting from communism to capitalism and from totalitarianism to democracy. Soviet leader Mikhail Gorbachev’s 1986 reform initiatives of glasnost (openness) and perestroika (economic restructuring) triggered the region’s political, economic, and social revolutions.
The area’s modern economic history begins with the creation of the Union of Soviet Socialist Republics (the Soviet Union or U.S.S.R.), which emerged from the disintegration of the Russian Empire after World War I. The communists outlawed the market system, abolished private property, and collectivized the country’s vast rich farmlands. By doing so, they succeeded in reducing the enormous income inequalities that had existed under czarist rule. Despite this success, the population’s standard of living increasingly fell behind that of the Western democracies.Gorbachev’s economic and political reforms led to the Soviet Union’s collapse in 1991 and subsequent declarations of independence by the 15 Soviet republics, which are now often referred to as the Newly Independent States (NIS). In 1992, 12 of the NIS formed the Commonwealth of Independent States (CIS) as a forum to discuss issues of mutual concern.
The most important CIS member is the Russian Federation (Russia), which was the dominant republic within the former Soviet Union. As an independent state, Russia is the world’s largest country in land mass (6.5 million square miles) and the sixth largest in population (142 million people). The country is well endowed with natural resources, including gold, oil, natural gas, minerals, diamonds, and fertile farmland.The transformation of the Russian economy from communism to a free-market system was not easy. Russia’s first democratically elected president was Boris Yeltsin. In August 1998, Yeltsin’s government was forced to devalue the ruble and impose a 90-day moratorium on payments to foreign creditors. However, Russia’s economy has rebounded in the past decade. The second president, Vladimir Putin, overhauled the country’s taxation system. This initiative worked, and government revenues have increased. As the world’s second largest oil producer and exporter, Russia has benefited from the increased prices of oil and other raw materials. Since 2000, the country’s GDP has increased at an annual rate of 5.9 percent per year. By early 2011, Russia had accumulated $513 billion in currency reserves, the third largest in the world after China and Japan. Going forward, Russia’s prospects for continued economic growth look strong.
The five Central Asian republics of the former Soviet Union—Kazakhstan, Uzbekistan, Tajikistan, Turkmenistan, and Kyrgyzstan—have much in common. One common feature is the importance of Russia in their recent political history. The five republics were part of czarist Russia. Each became a Socialist Republic of the Soviet Union after the communists deposed the czars. When the Soviet Union dissolved in 1991, the five declared their independence. The Muslim faith is the dominant religion in all of them. Their languages share Turkic or Persian roots. All suffer from a scarcity of arable land; mountains and deserts dominate their landscapes. Their peoples are poor, with per capita incomes ranging from $700 in Tajikistan to $6,740 in Kazakhstan. However, extensive fossil fuel reserves can be found throughout Central Asia, particularly in Kazakhstan and Turkmenistan.
This section covered the Marketplaces of Eastern Europe and Central Asia. The discussion started with an overview of the economics and politics of this region. The rest of the discussion covered Russia and the Central Asian Republics. The next section will focus on The Marketplaces of Asia.
Asia’s importance to international business cannot be overstated. The region is a source of both high-quality and low-quality products and of both skilled and unskilled labor. Asia is a major destination for foreign investments by MNCs, as well as a major supplier of capital to non-Asian countries. More important, its aggressive, efficient entrepreneurs have increasingly put competitive pressure on European and North American firms to boost their productivity and improve the quality of their products.
Japan is an island country of 126 million people. It is the third largest economy in the world, with a GDP of $5.1 trillion in 2009. Japan’s rapid growth during the past 50 years is due in part to the partnership between its Ministry of International Trade and Industry (MITI) and its industrial sector. (In 2001, MITI was renamed the Ministry of Economy, Trade, and Industry.) The formal and informal powers wielded by MITI have guided production and investment strategies of the country’s corporate elite. MITI has been aided by Japan’s concentrated industrial structure. Japanese industry is controlled by large families of interrelated companies, called keiretsu, that are typically centered on a major Japanese bank. The bank meets the keiretsu’s financing needs. Keiretsu members often act as suppliers to each other, thus making it more difficult for outsiders to penetrate Japanese markets. Members are also protected from hostile takeovers by an elaborate system of cross-ownership, in which keiretsu members own shares in one another’s companies.
Since 2000, Japan’s GDP has grown at an annual rate of 1.1 percent, well below the 2.9 percent average growth in the world economy. Many experts are concerned that the Japanese political and economic systems have not been able to adjust quickly enough to the changes in the world economy, such as the growth of e-commerce and the emerging markets. Moreover, Japan has received much international criticism because of the perception that it employs unfair trading practices to market its exports, while using numerous nontariff barriers to restrict imports to its domestic market. Perhaps Japan’s greatest challenge, however, is dealing with its growing demographic crisis: the aging of its population.
Although Australia and New Zealand share a common cultural heritage, significant differences exist between the two countries.Australia’s 22 million people live in an area of 2.97 million square miles, with approximately 40 percent living in either Sydney or Melbourne. Merchandise exports, which in 2009 accounted for 17 percent of its $925 billion GDP, are concentrated in natural resource industries (such as gold, iron ore, and coal) and land-intensive agricultural goods (such as wool, beef, and wheat).New Zealand’s 4.3 million people live on two main islands—the more populous North Island and the more scenic but less temperate South Island. Merchandise trade is extremely important to the country. In 2009, exports constituted 20 percent of its $126 billion GDP. These exports include dairy products, meat, and wool.
The Four Tigers are South Korea, Taiwan, Singapore, and Hong Kong. The World Bank has classified them ashigh-income countries for over a decade.South Korea (The Republic of Korea), was born after the Cold War divided the Korean peninsula into communist North Korea and capitalist South Korea. Exports accounted for 44 percent of its 2009 GDP of $833 billion. Taiwan (the Republic of China) is an island country off the coast of mainland China. It is home to 23 million people. It was born after the civil war between nationalist forces and Chinese communists. During the past 30 years, it has been one of the world’s fastest-growing economies. Exports of $275 billion in 2009 were 64 percent of Taiwan’s GDP of $427 billion.The Republic of Singapore is a small island country off the southern tip of the Malay Peninsula. In 2009, Singapore’s exports totaled $270 billion, or 148 percent of its GDP of $182 billion. That figure is not a misprint. Singapore thrives on re-exporting from its excellent port facilities. It also provides communications and financial services, and it is a center of high technology in the region. After the “opium war” (1839–1842) between the United Kingdom and China, Hong Kong was ceded to the British. On July 1, 1997, China assumed control of Hong Kong, designating it as a special administrative region (SAR) and granting it a fair degree of autonomy. As a re-exporter, Hong Kong exported $330 billion worth of goods in 2009, or 194 percent of its $215 billion GDP.
With 1.3 billion people, China is the world’s most populous country. It was ruled by a series of emperors from 2000 B.C., until the early 1900s, when a republic was founded. In 1949, the communist forces of Mao Tse-tung defeated the nationalist army led by General Chiang Kai-shek. After Mao’s death in 1976, the government adopted limited free-market policies. Agriculture was returned to the private sector, and entrepreneurs were allowed to start small businesses. Foreign companies were permitted to establish joint ventures with Chinese firms. However, Communist Party leaders have not been unwilling to step aside. Therefore, China is following a unique path. It continues to adopt market-oriented economic policies under the Communist Party’s watchful eye.
China’s vibrant economy, which grew 10.9 percent a year from 2000 to 2009, has attracted the attention of firms worldwide. As a result, FDI in China has exploded. Of particular note are the increased investments by overseas Chinese investors living in Taiwan, Hong Kong, and Singapore, who see China as a source of hard-working, low-cost labor. While China’s cities have boomed economically, this is less the case for the country’s estimated 750 million rural residents. A major challenge facing China’s leaders is closing the growing income gap between its urban and rural residents.
India is the world’s second most populous country, having reached the 1 billion mark in 2000. India was part of the British Empire until 1947. Then, the Indian subcontinent was partitioned along religious lines into India, where Hindus were in the majority, and Pakistan, where Muslims were dominant. The new country of India adopted many aspects of British government, including a strong independent judiciary, a professional bureaucracy, and the parliamentary system. For most of its post–World War II history, the country has relied on state ownership of key industries as a critical element of its economic development efforts. Before1991, India discouraged foreign investment. Then, Prime Minister Rao enacted market-openingreforms. Since then, India has attracted FDI from MNCs based in developed countries, and its GDP growth has averaged 7.8 percent annually since 2000. However, problems remain. For example, corruption is widespread, and the country’s infrastructure is overburdened. Opaque government policies have discouraged foreign investments, leading the World Bank to warn that failure to trim red tape may staunch the flow of foreign capital into sectors that are crucial to India’s economic growth.
Asia is home to numerous other countries at various stages of economic development. Thailand, Malaysia, and Indonesia are countries with low labor costs that have been recipients of significant FDI during the 1980s and 1990s. As labor costs have risen in their homeland, many Japanese MNCs have built satellite plants in these three countries to supply low-cost parts to parent factories in Japan. In addition, U.S. and European MNCs have used these countries as production platforms. Although their growth temporarily slowed as a result of the 1997 Asian currency crisis, the Malaysian, Thai, and Indonesian economies have boomed as a result of exports generated by FDI. Vietnam is also becoming important to MNCs. For example, Intel constructed a billion dollar chip testing and assembly factory in Ho Chi Minh City, which began operating in 2010.
This section covered The Marketplaces of Asia. The discussion focused on Japan, Australia and New Zealand, the Four Tigers, China, India, and Southeast Asia. The next section will focus on The Marketplaces of Africa and the Middle East.
Africa covers approximately 22 percent of the world’s total land area and is rich in natural resources. Egypt occupies the northeastern tip of the African continent and represents the western boundary of what is commonly known as the Middle East.
The African continent is home to 1.0 billion people and 55 countries. Most of Africa was colonized in the late nineteenth century by major European countries for strategic military purposes and domestic political demands. The tide of colonialism began to reverse in the mid-1950s. Vestiges of colonialism remain in today’s Africa, however, affecting opportunities available to international businesses. The commodity boom has boosted the economies of many African countries. Algeria, Angola, Gabon, Libya, and Nigeria are major exporters of oil; Zambia is a rich source of copper; and Botswana has diamond fields. However, the governments of these countries face the challenge of leveraging the growth in their commodities sector to create broad-based economies that can benefit their entire populations. Agriculture also is important to many African countries. It accounts for over 40 percent of the GDPs of the Central African Republic, Sierra Leone, Tanzania, and Rwanda. Unfortunately, the population in many African countries is largely employed in subsistence farming.Many experts believe South Africa will be the dominant economic power and the continent’s growth engine during the twenty-first century. South Africa possesses fertile farmland and rich deposits of gold, diamonds, chromium, and platinum. Nobel Peace Prize winner Nelson Mandela was elected president in May 1994 in the country’s first multiracial elections. In 2009 South Africa’s exports—primarily minerals—accounted for 22 percent of its $286 billion GDP.
The Middle East includes the region between southwestern Asia and northeastern Africa. This area is called the “cradle of civilization” because the world’s earliest farms, cities, governments, legal codes, religions, and alphabets originated there. The Middle East has had a history of conflict and political unrest, which has raised the risk of doing business in the region. In 2011, uprisings against the lack of democracy, poor employment opportunities, and high income inequality led to the ousting of long-time rulers in Egypt and Tunisia and to a civil war in Libya.In 2009, Saudi Arabia, with a GDP of $369 billion, had the largest economy in the Middle East; however, Israel enjoyed the highest per capita income at $25,740 per annum. The region is home to many oil-rich countries. In Saudi Arabia, oil accounts for 45 percent of GDP and 90 percent of total export earnings. Some of the oil-rich nations of the Middle East are attempting to diversify their economies for “life after oil.” Dubai offers foreign investors all the benefits of a foreign trade zone, an excellent infrastructure, and an entry point for exports to the region. Many of these petro-states have amassed impressive portfolios of foreign investments. Some of these sovereign wealth funds have grown so large that they have created political concerns.
This section covered The Marketplaces of Africa and the Middle East. The discussion focused on the continent of Africa and reviewed market conditions in the Middle East. The next section will focus on The Marketplaces of South America.
South America’s 13 countries share a common political, social, and economic history. Spanish and Portuguese explorers subjugated the native populations, exploited their gold and silver mines, and converted their fields to plantations. By the end of the eighteenth century, the hold of the two European powers on their South American colonies had weakened. Led by such patriots as Simon Bolivar, one colony after another won its independence by 1825. However, independence did not cure the continent’s problems. Many South American countries suffer from huge income disparities and widespread poverty among their peoples, leading to political instability and continual cries for reform.
For much of the post–World War II period, the majority of South American countries followed what international economists call import substitution policies as a means of promoting economic development. With this approach, a country attempts to stimulate the development of local industry by discouraging imports via high tariffs and nontariff barriers. The opposite of import substitution is export promotion, whereby a country pursues economic growth by expanding its exports.
For most South American industries, the domestic market is too small to enable domestic producers to gain economies of scale through mass-production techniques or to permit much competition among local producers. Thus, prices of domestically produced goods tend to rise above prices in other markets. This benefits domestic firms that face import competition. However, it hampers domestic exporters in world markets because they must pay higher prices for domestically produced inputs. Inevitably, the government must subsidize these firms and often nationalize them to preserve urban jobs. The high costs of doing this are passed on to taxpayers and to consumers through higher prices. Ultimately, the government runs a budget deficit. The result is inflation and destruction of middle-class savings.
Many major South American countries (including Argentina, Brazil, and Chile) adopted these well-intentioned but ultimately destructive import substitution policies. In the late 1980s, however, the countries began to reverse their policies. They lowered tariff barriers, sought free trade agreements, privatized their industries, and positioned their economies to compete internationally. Chile, for example, is now one of the most free-market-oriented economies in the world. The continent’s economies boomed during the 1990s, as a result of these policies. More recently, increasing demand for raw materials and food stuffs has benefited many South American firms. However, the continent is still plagued by the chasm between the rich and the poor. The lack of economic and social mobility has trapped generations of South Americans in poverty and despair and created political instability in many of their countries.
This section covered The Marketplaces of South America. The discussion started by comparing import substitution and export promotion as economic policies. It then examined the problems associated with import substitution. The discussion closed by examining the current situation in South American markets. This presentation will close with an overview of the learning objectives for this chapter.
This concludes the PowerPoint presentation on Chapter 2, “Global Marketplaces and Business Centers.” During this presentation, we have accomplished the following learning objectives: Evaluated the impact of the political and economic characteristics of the world’s various marketplaces on the opportunities available to international businesses. Appreciated the uses of national income data in making business decisions. Discussed North America as a major marketplace and business center in the world economy.Described Western Europe as a major marketplace and business center in the world economy.Discussed Asia as a major marketplace and business center in the world economy. Assessed the development challenges facing African, Middle Eastern, and South American Countries. For more information about these topics, refer to Chapter 2 in International Business.