Purpose of Assignment
The purpose of the learning team assignment is to offer students the opportunity to investigate their understanding of how globalization affects a company's strategic plan. Additional objectives include allowing students to assess the effectiveness of strategic alliances in the growth process of a company and to understand the necessity for innovation to create a sustainable long-term organizational environment. The students will also identify how organizational structures facilitate company growth and controls in the global environment.
Assignment Steps
Create a 4-slide Microsoft® PowerPoint® presentation (excluding the title slide and references) with speaker notes and address the following topic:
· Evaluate the effects of globalization on strategic management planning.
International Journal of Management Vol. 29 No. 4 Dec 2012 531
The Effects of International Diversification on Firm
Performance: An Empirical Study across Twelve
European Countries
Alfredo M. Bobillo
University of Valladolid, Spain
Felix López-Iturriaga
University of Valladolid, Spain
Fernando Tejerina-Gaite
University of Valladolid, Spain
The relationship between international diversification and firm performance is a
binomial that has led to many investigations leading to mixed results, in some cases
there is a positive relationship, in others no significant relationship or even negative. In
this paper we try to find the possible reasons why these results occur. The international
diversification is assessed by the ratio of exports to total turnover. Besides, we extend
the research to the different performance that industrial and service firms could have,
bearing in mind, too, if their business culture base originates from civil law or common
law countries. Based on a sample of 1721 firms from twelve European countries, we
compare this relationship for the 2000-2009 period. The empirical results obtained
show a stronger ID-performance positive relationship in service firms than in industrial
ones. Those firms with a culture based on civil law systems (bank oriented financial
system) will have greater flexibility to counteract the negative relationship between ID
and performance, than those firms with culture based on common law systems (capital
market oriented system).
Introduction
Accessing foreign markets is becoming a more and more attractive option for firms.
International diversification (ID) is a stabilisation procedure for the firm’s sales and
also a way of reducing the risks derived from the reduction in demand on the domestic
market. Likewise, the presence of a firm on the global market entails greater derived
risks, mainly due to the greater uncertainty and commitment of resources entailed by this
action. It also represents a challenge to improve their competitiveness in their fight with
local firms (Lucas, 1993; Bowen & Wersema, 2005). The degree of internationalisation is
also contemplated a ...
The Relationship between Foreign Trade and Financial Performance of the Liste...IOSRJBM
The main objective of this study was to determine the relationship between foreign trade and financial performance of the listed manufacturing companies in Nigeria. The study focused on the 32 listed companies randomly drawn from the 74 listed manufacturing companies in Nigeria. The secondary data extracted from the financial statement of these companies were subjected to both descriptive and inferential statistics. The result shows a significant positive relationship between the two variables. It was therefore recommended that the management and the board of directors of the listed manufacturing companies should intensify efforts on how the locally produced products will be able to penetrate into the foreign countries as it was discovered that majority of the goods produced by the manufacturing companies in Nigeria are consumed locally
The document discusses internalization theory, which explains why firms expand abroad through foreign direct investment rather than exporting or licensing. It explores how internalization can help firms reduce transaction costs and better exploit firm-specific advantages in knowledge and technology. Wholly owned subsidiaries allow firms to internalize markets and control valuable information, though cultural and institutional differences across countries can increase costs. Licensing also has drawbacks like high transaction costs and potential loss of competitive advantages. Overall, internalization theory holds that firms will internalize activities abroad when the benefits of controlling resources and capabilities outweigh the costs of international expansion.
Impact of corporate diversification on the market value of firmsAlexander Decker
This document summarizes a study that investigates the impact of diversification on the market value of banks in Nigeria. The study hypothesized that diversification does not significantly impact market value. Using regression analysis, the results rejected this null hypothesis and found that diversification does significantly impact market value of banks in Nigeria. Prior literature on the impact of diversification has shown mixed and inconclusive results. Some studies found diversification reduced firm value while others found no relationship or that diversification increased value. The document reviews these mixed findings from prior studies.
The delivery process consisted in the deregulation of local markets and international trends, which allowed the emergence of the phenomenon "globalization". This process has resulted in the restructuring of companies that are considered in the expansion of business, the level of competitiveness, expansion in the market of operations, technological adaptations and strategies; Mergers and Acquisition (M& A) characteristics operations. However, the main objective is to have priority in information promotion policies and initiatives to improve business conditions.
The objective of this article is to address the M& A theme in the context of globalization, seeking to answer the following question: what are the results obtained in the process of restructuring and operating M& A in the telecommunications company Oi S / A between the year of its creation and by the year 2016? To all that the literature review, literature studies, literature, literature studies, non-literature literature, pages, semantic studies, about the theme, being a bibliographic and descriptive research.
The study demonstrates that not always the processes of the frequency and license are advantageous to the parties related, due to character complexes that involve such operations. These groups can be supported in their search, mainly in studies on the market of action, differences in quotations and payments, employment opportunities in the societies involved.
In general sense, a good financial performance suggests that the firm is doing better in terms of competitiveness since profitable opportunities result in higher production and sales. The advantage of employing financial measures is their agreed-upon definitions and the easiness of calculations.
According to the study results reported by an authors, industry concentration, growth, market share, geographic dispersion of production, research and development expenditures and size measured by sales have a positive impact on the financial performance of the companies.
This document presents a research model exploring the relationships between geographic scope, product diversification, proprietary assets, and corporate performance of Japanese firms. The model incorporates both antecedents and consequences of geographic scope. Six main hypotheses are developed: 1) Industry profitability is negatively related to product diversification. 2) Product diversification is negatively related to firm performance. 3) Product diversification is negatively related to R&D and advertising intensity. 4) R&D and advertising intensity are positively related to geographic scope. 5) Geographic scope is positively related to firm performance. 6) R&D and advertising intensity are positively related to firm performance. The model will be tested using data on 399 Japanese manufacturing firms.
This document provides an introduction to strategic management. It discusses key concepts like strategic competitiveness, competitive advantage, the strategic management process, and above-average returns. It also examines models for achieving above-average returns, including the industrial organization model and resource-based model. Additional topics covered include vision and mission, stakeholders, the role of strategic leaders, and analyzing profit pools. The overall document provides a high-level overview of strategic management principles and frameworks.
The Relationship between Foreign Trade and Financial Performance of the Liste...IOSRJBM
The main objective of this study was to determine the relationship between foreign trade and financial performance of the listed manufacturing companies in Nigeria. The study focused on the 32 listed companies randomly drawn from the 74 listed manufacturing companies in Nigeria. The secondary data extracted from the financial statement of these companies were subjected to both descriptive and inferential statistics. The result shows a significant positive relationship between the two variables. It was therefore recommended that the management and the board of directors of the listed manufacturing companies should intensify efforts on how the locally produced products will be able to penetrate into the foreign countries as it was discovered that majority of the goods produced by the manufacturing companies in Nigeria are consumed locally
The document discusses internalization theory, which explains why firms expand abroad through foreign direct investment rather than exporting or licensing. It explores how internalization can help firms reduce transaction costs and better exploit firm-specific advantages in knowledge and technology. Wholly owned subsidiaries allow firms to internalize markets and control valuable information, though cultural and institutional differences across countries can increase costs. Licensing also has drawbacks like high transaction costs and potential loss of competitive advantages. Overall, internalization theory holds that firms will internalize activities abroad when the benefits of controlling resources and capabilities outweigh the costs of international expansion.
Impact of corporate diversification on the market value of firmsAlexander Decker
This document summarizes a study that investigates the impact of diversification on the market value of banks in Nigeria. The study hypothesized that diversification does not significantly impact market value. Using regression analysis, the results rejected this null hypothesis and found that diversification does significantly impact market value of banks in Nigeria. Prior literature on the impact of diversification has shown mixed and inconclusive results. Some studies found diversification reduced firm value while others found no relationship or that diversification increased value. The document reviews these mixed findings from prior studies.
The delivery process consisted in the deregulation of local markets and international trends, which allowed the emergence of the phenomenon "globalization". This process has resulted in the restructuring of companies that are considered in the expansion of business, the level of competitiveness, expansion in the market of operations, technological adaptations and strategies; Mergers and Acquisition (M& A) characteristics operations. However, the main objective is to have priority in information promotion policies and initiatives to improve business conditions.
The objective of this article is to address the M& A theme in the context of globalization, seeking to answer the following question: what are the results obtained in the process of restructuring and operating M& A in the telecommunications company Oi S / A between the year of its creation and by the year 2016? To all that the literature review, literature studies, literature, literature studies, non-literature literature, pages, semantic studies, about the theme, being a bibliographic and descriptive research.
The study demonstrates that not always the processes of the frequency and license are advantageous to the parties related, due to character complexes that involve such operations. These groups can be supported in their search, mainly in studies on the market of action, differences in quotations and payments, employment opportunities in the societies involved.
In general sense, a good financial performance suggests that the firm is doing better in terms of competitiveness since profitable opportunities result in higher production and sales. The advantage of employing financial measures is their agreed-upon definitions and the easiness of calculations.
According to the study results reported by an authors, industry concentration, growth, market share, geographic dispersion of production, research and development expenditures and size measured by sales have a positive impact on the financial performance of the companies.
This document presents a research model exploring the relationships between geographic scope, product diversification, proprietary assets, and corporate performance of Japanese firms. The model incorporates both antecedents and consequences of geographic scope. Six main hypotheses are developed: 1) Industry profitability is negatively related to product diversification. 2) Product diversification is negatively related to firm performance. 3) Product diversification is negatively related to R&D and advertising intensity. 4) R&D and advertising intensity are positively related to geographic scope. 5) Geographic scope is positively related to firm performance. 6) R&D and advertising intensity are positively related to firm performance. The model will be tested using data on 399 Japanese manufacturing firms.
This document provides an introduction to strategic management. It discusses key concepts like strategic competitiveness, competitive advantage, the strategic management process, and above-average returns. It also examines models for achieving above-average returns, including the industrial organization model and resource-based model. Additional topics covered include vision and mission, stakeholders, the role of strategic leaders, and analyzing profit pools. The overall document provides a high-level overview of strategic management principles and frameworks.
Senior Seminar in Business Administration BUS 499Internation.docxklinda1
Senior Seminar in Business Administration
BUS 499
International Strategy
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2009). BUS499: Strategic management: Competitiveness and globalization, concepts and cases: 2009 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss International Strategy.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Identify various levels and types of strategy in a firm
Upon completion of this lesson, you will be able to:
Identify various levels and types of strategy in a firm.
Please go to the next slide.
Supporting Topics
Identifying international opportunities: incentives to use an international strategy
International strategies
Environmental trends
Choice of international entry mode
Strategic competitive outcomes
Risks in an international environment
In order to achieve this objective, the following supporting topics will be covered:
Identifying international opportunities: incentives to use an international strategy;
International strategies;
Environmental trends;
Choice of international entry mode;
Strategic competitive outcomes; and
Risks in an international environment.
Please go to the next slide.
Overview
International strategy
Demand develops in other countries
Secure needed resources
An international strategy is a strategy through which the firm sells its goods or services outside its domestic market. One of the primary reasons for implementing an international strategy is that international markets yield potential new opportunities.
Typically, a firm discovers an innovation in its home-country market, especially in an advanced economy such as that of the United States. Often demand for the product then develops in other countries, and exports are provided by domestic operations. Increased demand in foreign countries justifies making investments in foreign operations, especially to fend off foreign competitors.
Another traditional motive for firms to become multinational is to secure needed resources. Key supplies of raw material, especially minerals and energy, are important in some industries. Other industries, such as clothing, electronics, watch making, and many others, have moved portions of their operations to foreign locations in pursuit of lower production costs.
Please go to the next slide.
Overview, continued
Increased market size
Return on investment
Economies of scale and learning
Location advantages
When international strategies are successful, firms can derive four basic benefits:
Increased market size;
Greater returns on major capital investments or on investments in new products and processes;
Greater economies of scale, scope, or learning; and
A competitive advantage through location.
Firms can expand the size of their potential market by moving into international markets.
The primary reason for investing in inter.
This document discusses how the process of international expansion can impact a firm's profitability. It argues that while expanding abroad can provide benefits, the rate and pattern of expansion are important. Specifically:
1) A faster pace of international expansion, in terms of the number of foreign subsidiaries established in a given time period, can negatively impact profitability due to "time compression diseconomies" and limits on a firm's capacity to absorb new ventures.
2) Both a broader geographic and product scope of expansion, in terms of the variety of countries and industries entered, can also negatively impact profitability by overstretching the firm's absorptive capacity.
3) A less regular and more irregular expansion
Which countries would be unsuitable for a BFSI subsidiary at thijonghollingberry
Which countries would be unsuitable for a BFSI subsidiary at this time, and what are the basic shortcomings in each case?
BERTOS MANUFACTURING CORPORATION Evaluating Markets to Invest Abroad E. N. Roussakis and Anastasios Moysidis Abstract: This case deals with the key considerations when planning an international expansion through direct investment in foreign markets. These considerations must be addressed by a finance company seeking to establish foreign subsidiaries to support the international sales of its parent firm, a U.S.-based multinational enterprise (MNE). The company already operates three foreign subsidiaries--in Canada, Mexico (both NAFTA members), and the United Kingdom--but wishes to increase this network further through entry into additional markets. Ten candidate countries are being considered to determine the five most suitable for entry. Hence the need for a rational decision of where to invest. Keywords: Subsidiaries; multinational enterprise; transnational activities; foreign direct investment; greenfield investment ; leveraged institution ; wholesale financing ; captive finance company; retail installment contract 1 Introduction Victoria Pernarella is a recent university graduate in business administration and a new hire in Bertos Financial Services, Inc., a major finance company in Nashville, Tennessee. After a month long rotational training to gain insights into the company’s scope o f activities, she was placed in the international department where she has been assigned to work on a project. Bill Pappas, her manager, had asked her to analyze a select number of foreign countries to determine the best pro spects for the local establishment of subsidiary finance companies. He went on to clarify that the mode of entry into the foreign markets-- acquisition of an existing company or a greenfield investment (from the ground up, that is, from a green field)--was not a primary consideration at this stage. The candidate countries were Croatia, Chile, Colombia, Serbia, Philippines, Costa Rica, Australia, Malaysia, Qatar, and Nigeria. With finance companies highly leveraged institutions, the firm was prepared to provide the initial amount of equity capital needed for the establishment of five such institutions. At this stage therefore, the study ought to limit its recommendation to a corresponding number of foreign countries. With this information at hand, Victoria started reflecting on the approach to use for her analysis. Sensing the need to prove her capabilities by delivering a high quality study for her first company assignment, she thought appropriate to first familiarize herself with the pertinent literature on the international expansion of multinational enterprises (MNE) in general and banks in particular, and then review background information o n her employer, and the scope of activities of its financial subsidiary. Hence the sequence of the following sections which address the internationalization process (litera ...
Workers co-determination and industrial productivityserena boccardo
This research proposal aims to explore the impact of codetermination, a form of corporate governance involving worker representation, on firm performance metrics like total factor productivity, efficiency, and growth. While previous research has found mixed results, the proposal will focus on analyzing codetermination's effects within the automotive industry using econometric techniques. The analysis is motivated by debates around balancing employee and shareholder interests through participation models and ensuring sustainable long-term growth.
BERTOS MANUFACTURING CORPORATION Evaluating Markets to .docxikirkton
BERTOS MANUFACTURING CORPORATION
Evaluating Markets to Invest Abroad
E. N. Roussakis and Anastasios Moysidis
Abstract: This case deals with the key considerations when planning an international
expansion through direct investment in foreign markets. These considerations must be
addressed by a finance company seeking to establish foreign subsidiaries to support the
international sales of its parent firm, a U.S.-based multinational enterprise (MNE). The
company already operates three foreign subsidiaries--in Canada, Mexico (both NAFTA
members), and the United Kingdom--but wishes to increase this network further through
entry into additional markets. Ten candidate countries are being considered to determine
the five most suitable for entry. Hence the need for a rational decision of where to invest.
Keywords: Subsidiaries; multinational enterprise; transnational activities; foreign direct
investment; greenfield investment; leveraged institution; wholesale financing; captive
finance company; retail installment contract
1 Introduction
Victoria Pernarella is a recent university graduate in business administration and a new
hire in Bertos Financial Services, Inc., a major finance company in Nashville, Tennessee.
After a month long rotational training to gain insights into the company‟s scope of
activities, she was placed in the international department where she has been assigned to
work on a project. Bill Pappas, her manager, had asked her to analyze a select number of
foreign countries to determine the best prospects for the local establishment of subsidiary
finance companies. He went on to clarify that the mode of entry into the foreign markets--
acquisition of an existing company or a greenfield investment (from the ground up, that is,
from a green field)--was not a primary consideration at this stage. The candidate countries
were Argentina, Australia, Brazil, China, France, Netherlands, Russia, Switzerland,
Turkey, and Venezuela. With finance companies highly leveraged institutions, the firm
was prepared to provide the initial amount of equity capital needed for the establishment
of five such institutions. At this stage therefore, the study ought to limit its
recommendation to a corresponding number of foreign countries.
With this information at hand, Victoria started reflecting on the approach to use for
her analysis. Sensing the need to prove her capabilities by delivering a high quality study
for her first company assignment, she thought appropriate to first familiarize herself with
the pertinent literature on the international expansion of multinational enterprises (MNE)
in general and banks in particular, and then review background information on her
employer, and the scope of activities of its financial subsidiary. Hence the sequence of the
following sections which address the internationalization process (literature review on the
development of MNEs), the mod ...
Compliance with International Financial Reporting Standardsinventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Globalization has increased competition by allowing easier movement of goods, services, capital and information across borders. This has led companies to expand internationally to access new markets and resources. There are several approaches for entering foreign markets including exporting, joint ventures, and foreign direct investment. Companies must analyze political, economic, social, technological and other factors in foreign markets and adapt their marketing strategies to local conditions. Success requires understanding local consumer needs and regulations while maintaining a consistent brand image. International expansion can increase sales and profits but also presents challenges in managing operations across diverse and distant markets.
International Business Management Summary by k.jeetun BSc(Hons) Management Karishma Jeetun
This document provides an overview and learning objectives for a unit on evaluating the contribution of multinational enterprises (MNEs) to host countries. It introduces an evaluation framework with 4 criteria: efficiency of resource allocation, distribution of gains, sovereignty issues, and self-reliance issues. The document focuses on explaining the efficiency of resource allocation criterion, discussing how MNE operations and government policies have impacted resource allocation efficiency over time from an import substitution strategy to export-oriented growth. It also briefly discusses the distribution of gains criterion and challenges in determining a fair distribution of benefits between MNEs and host countries.
Study of International Business Articles.
Part 1: Essential of International Business.
Part 2: Theories applied to International Business.
Part 3: Bargaining Approach and Resources.
Part 4: International Business Phenomena.
Part 5: Internalization.
Part 6: Competitive advantages.
The document discusses five principal environmental factors that affect corporate strategy: competitors, creditors, customers, labor market, and suppliers. It explains how each factor influences business and strategy. Additionally, it discusses two key aspects - cost leadership and differentiation - that contribute to the overall environmental factors of a strategy. The document analyzes how external economic, political, social, and technological forces shape opportunities and threats for businesses.
Alliances and joint-ventures the way forward in Relation marketing in ZimbabweBernard Tapiwa Sithole
The document discusses various types of strategic alliances and joint ventures, providing definitions and examples. It outlines the six markets framework for relationship marketing and applies it to MSU Zimbabwe. It then distinguishes between joint ventures and strategic alliances, providing characteristics and examples of each. The document also discusses benefits and risks of strategic alliances for universities in Zimbabwe and outlines seven common types of strategic alliances - joint ventures, outsourcing, affiliate marketing, licensing, product licensing, franchising, and R&D alliances - giving definitions and examples of each.
ASSESSING THE IMPACT OF OUTSOURCING ON ORGANIZATIONAL PERFORMANCE A CASE OF ...Brittany Allen
This document assesses the impact of outsourcing on organizational performance at Vodafone Ghana using both leading and lagging indicators. A literature review revealed theories supporting outsourcing for cost reduction and focusing on core competencies. Empirical studies showed mixed results - outsourcing positively impacted quality of service and knowledge development but showed no significant relationship with financial performance. A quantitative methodology was used to survey Vodafone Ghana employees using stratified random sampling. Statistical analysis found a moderately positive relationship between outsourcing and quality of service as well as knowledge development, but no significant relationship with financial performance.
Senior Seminar in Business AdministrationBUS499 Strategic Ma.docxklinda1
Senior Seminar in Business Administration
BUS499
Strategic Management and Strategic Competitiveness
Welcome to the Government Contract Law.
In this lesson we will discuss Strategic Management and Strategic Competitiveness.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Identify the vision, mission, and stakeholders of a firm
When you complete this lesson you will be able to:
Identify the vision, mission, and stakeholders of a firm.
Please go to the next slide.
Supporting Topics
The Competitive Landscape
The I/O Model of Above Average-Returns
The Resource-Based Model of Above Average-Returns
Vision and Mission
Stakeholders
Strategic Leaders
The Strategic Management Process
In order to achieve this objective, the following supporting topics will be covered:
The competitive landscape;
The I/O model of above average-returns;
The resource-based model of above average-returns;
Vision and mission;
Stakeholders;
Strategic leaders; and
The strategic management process.
Please go to the next slide.
The Competitive Landscape
Competition is Changing
Money is scare
Markets are becoming volatile
Firms effectively using the strategic management process
Hypercompetition
Challenge competitors
Competition between many of the world’s industries is changing. Many of these industries are competing due to money being scare and markets becoming volatile. Boundaries that once seemed drawn between industries are becoming blurred. An example of this challenge would be the advances in interactive computer networks and telecommunications. These advancements have entered into the realm of the entertainment industry. We also see that many partnerships in the entertainment industry further blur the boundaries of the industry. In order to be successful and maintain a competitive edge, managers must adopt new strategies to stay current with the evolving conditions.
Many firms effectively use the strategic management process to help reduce the likelihood of failure with various challenges they may encounter.
Hypercompetition is a term often used to illustrate the competitive landscape. The conditions of hypercompetition assume that market stability is replaced by notions of inherent instability and change.
Hypercompetition results from the dynamics of strategic maneuvering among global and innovative combatants. It is a condition of rapidly escalating competition based on the following:
Price quality positioning;
Competition to create new know-how and establish first mover advantage; and
Competition to protect or invade established product or geographic markets.
In a hypercompetitive market, firms will want to challenge their competitors with the end goal of improving their competitive position and performance. The emergence of a global economy and technology along with specifically rapid technological changes are the two primary elements of hypercompetitive environments and help create to.
ECO/561 Week 6 Assignment Rubric
Individual Assignment: Challenges of Expansion to a Foreign LocationPurpose of Assignment
This week students will review and revise their Week 3 Research Analysis for Business assignment based on economic analysis and the feedback provided by their facilitator. Students will also expand their Week 3 analyses to evaluate the challenges of expanding their chosen company's production to a foreign market.
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.
Grading Guide
Content
Met
Partially Met
Not Met
Comments:
Evaluated current global economic conditions and their effects on macroeconomic indicators in your selected country. Provided forecasts for population growth, gross domestic product (GDP) growth, GDP per capita growth, export growth, and sales growth.14 points
Evaluated any competitors' existing production in the chosen country. 11 points
Assessed sales forecasts in the selected country. 11 points
Categorized the type of economy that exists in your selected country as closed, mixed, or market. Explained the difference between these types of economies and how might this affect your expansion. 11 points
Assessed how the chosen country's current credit market conditions, especially interest rates and the availability of financing, affect demand for your product or service and your planning or operating decision for your production in that country. 11 points
Analyzed the role of the selected country's central bank on that country's economy. 11 points
Compared the availability, education, and job skills of the work force in the selected country. Discussed any additional challenges of international production, such as political stability, availability of government financing or other incentives, threat of capital controls, and exchange rate risks. 11 points
Explained any additional supply chain challenges you anticipate if attempting to make your product in your chosen country and selling the product in other countries. 11 points
Conclusion:
Created business strategies, including price and non-price strategies, based on your market structure to ensure the market share and potential market expansions and explore global opportunities for your business in a dynamic business environment and provide recommendations. 4 points
Develop a recommendation for how the firm can manage its future production by synthesizing the macroeconomic and microeconomic data presented. 4 points
Proposed how the firm's position within the market and among its competitors will allow it to take your recommended action. 4 points
Recommended strategies for the firm to sustain its success going forward by evaluating the findings from demand trends, price elasticity, current stage of the business cycle, and government. 4 points
Recommended any comparative adv ...
There are several strategies for entering foreign markets, including direct exporting, licensing, franchising, partnering, joint ventures, buying an existing company, piggybacking, turnkey projects, and greenfield investments. Each strategy has advantages and disadvantages depending on factors like tariffs, required product adaptation, costs, and regulations. Partnering and joint ventures allow sharing of risks, resources, and local knowledge but can also create competition if not structured properly. Turnkey projects provide a complete solution for complex infrastructure projects but local subcontracting opportunities. Greenfield investments require the most involvement but may be necessary due to various market factors.
This document discusses the drivers and hurdles of globalization. The key drivers that propel globalization forward are technological advances in transportation and communication, political liberalization of trade policies, saturation of domestic markets leading companies to internationalize, leveraging costs differences between countries, and increased global competition. However, globalization also faces hurdles such as technological standards barriers between countries, cultural differences that make cross-border business difficult, debates around the ethics of international trade practices, and economic trade barriers that governments impose.
New Trade Theory and Competitive Advantage Theory BhutheshRS
This document discusses international business and international trade theories, including the New Trade Theory and Porter's Diamond Model of national competitive advantage. The New Trade Theory focuses on increasing returns to scale and network effects. It assumes imperfect competition and economies of scale. Porter's Diamond Model identifies four determinants of national competitive advantage: factor conditions, firm strategy/rivalry, related/supporting industries, and demand conditions. Together these theories aim to explain patterns of international trade and sources of national success in global markets.
Human Resources Management Practices and Productivity of Selected Mncs in Eme...inventionjournals
This study investigates the mode of entry of multinational corporation and their performance Nigerian market. Research on the entry mode of multinational companies (MNCs) to Nigerian market has been one of the major topics in the international business, and the performance factor has been regarded as one of the major factors to explain the entry mode selection of MNCs. Based on the developing nature of the Nigerian market, MNCs can enter a market with Franchising, Licensing agreement, Exporting, joint venture or a wholly owned subsidiary, and Turnkey. This study test reasons for entering in the Nigerian market, modes of entering, challenges faced by multinational during entry and finally the impact of mode of entry of MNCs and their performance in the Nigerian market. The research adopted the survey method, with the use of the Questionnaire. The results from the analysis on the first hypothesis show that a MNCs come into the Nigerian market for different reasons with different modes peculiar to their organization. The second hypothesis indicated that there are various challenges MNCs faced when entry into Nigerian market. And the third hypothesis was supported indicating significant influence of mode of entry on the performance of MNCs in Nigerian markets.
MN6001 Business Without Borders, Assignment 3 (i)James Doherty
This document reflects on the author's university experience and international business management theories. It discusses several key points:
1. The importance of reflection in international business to learn from past experiences and mistakes. Managers should critically analyze projects to develop knowledge databases.
2. Globalization has reshaped business and theories through blurred boundaries and increased interconnections. Firms like P&G have adapted well through geocentric practices, while others like American Airlines struggled without change.
3. In group work, strong communication is vital for success, and language/cultural barriers can cause issues in multicultural groups if not addressed. Effective collaboration across differences is an important skill.
Your employer is pleased with your desire to further your educatio.docxwoodruffeloisa
Your employer is pleased with your desire to further your education and would like you to inform other employees about the process of online education; however, she still has questions about applying. Using proper memo format, and Figure 6-1 of the textbook, explain the process of applying for a degree at CSU. Use word processing software, such as Microsoft Word, to create your memo.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Pfeiffer, W., & Adkins, K. (2012, 109-110).
Technical communication fundamentals
. Upper Saddle River, NJ: Prentice Hall.
.
Your finished project, including both elements of the paper, should .docxwoodruffeloisa
Your finished project, including both elements of the paper, should be approximately 12 to 14 double-spaced pages, not including the cover or reference pages but including the abstract, submitted as one document. Make sure you present an introduction and a conclusion tying together both aspects of the paper. Follow the guidelines in either Course Content or in the conference. You must post your selection in this conference. The paper is due at the end of week 8 and must be submitted in your Assignments folder. Review the late policy above. The paper will not be accepted late.
.
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Senior Seminar in Business Administration BUS 499Internation.docxklinda1
Senior Seminar in Business Administration
BUS 499
International Strategy
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2009). BUS499: Strategic management: Competitiveness and globalization, concepts and cases: 2009 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss International Strategy.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Identify various levels and types of strategy in a firm
Upon completion of this lesson, you will be able to:
Identify various levels and types of strategy in a firm.
Please go to the next slide.
Supporting Topics
Identifying international opportunities: incentives to use an international strategy
International strategies
Environmental trends
Choice of international entry mode
Strategic competitive outcomes
Risks in an international environment
In order to achieve this objective, the following supporting topics will be covered:
Identifying international opportunities: incentives to use an international strategy;
International strategies;
Environmental trends;
Choice of international entry mode;
Strategic competitive outcomes; and
Risks in an international environment.
Please go to the next slide.
Overview
International strategy
Demand develops in other countries
Secure needed resources
An international strategy is a strategy through which the firm sells its goods or services outside its domestic market. One of the primary reasons for implementing an international strategy is that international markets yield potential new opportunities.
Typically, a firm discovers an innovation in its home-country market, especially in an advanced economy such as that of the United States. Often demand for the product then develops in other countries, and exports are provided by domestic operations. Increased demand in foreign countries justifies making investments in foreign operations, especially to fend off foreign competitors.
Another traditional motive for firms to become multinational is to secure needed resources. Key supplies of raw material, especially minerals and energy, are important in some industries. Other industries, such as clothing, electronics, watch making, and many others, have moved portions of their operations to foreign locations in pursuit of lower production costs.
Please go to the next slide.
Overview, continued
Increased market size
Return on investment
Economies of scale and learning
Location advantages
When international strategies are successful, firms can derive four basic benefits:
Increased market size;
Greater returns on major capital investments or on investments in new products and processes;
Greater economies of scale, scope, or learning; and
A competitive advantage through location.
Firms can expand the size of their potential market by moving into international markets.
The primary reason for investing in inter.
This document discusses how the process of international expansion can impact a firm's profitability. It argues that while expanding abroad can provide benefits, the rate and pattern of expansion are important. Specifically:
1) A faster pace of international expansion, in terms of the number of foreign subsidiaries established in a given time period, can negatively impact profitability due to "time compression diseconomies" and limits on a firm's capacity to absorb new ventures.
2) Both a broader geographic and product scope of expansion, in terms of the variety of countries and industries entered, can also negatively impact profitability by overstretching the firm's absorptive capacity.
3) A less regular and more irregular expansion
Which countries would be unsuitable for a BFSI subsidiary at thijonghollingberry
Which countries would be unsuitable for a BFSI subsidiary at this time, and what are the basic shortcomings in each case?
BERTOS MANUFACTURING CORPORATION Evaluating Markets to Invest Abroad E. N. Roussakis and Anastasios Moysidis Abstract: This case deals with the key considerations when planning an international expansion through direct investment in foreign markets. These considerations must be addressed by a finance company seeking to establish foreign subsidiaries to support the international sales of its parent firm, a U.S.-based multinational enterprise (MNE). The company already operates three foreign subsidiaries--in Canada, Mexico (both NAFTA members), and the United Kingdom--but wishes to increase this network further through entry into additional markets. Ten candidate countries are being considered to determine the five most suitable for entry. Hence the need for a rational decision of where to invest. Keywords: Subsidiaries; multinational enterprise; transnational activities; foreign direct investment; greenfield investment ; leveraged institution ; wholesale financing ; captive finance company; retail installment contract 1 Introduction Victoria Pernarella is a recent university graduate in business administration and a new hire in Bertos Financial Services, Inc., a major finance company in Nashville, Tennessee. After a month long rotational training to gain insights into the company’s scope o f activities, she was placed in the international department where she has been assigned to work on a project. Bill Pappas, her manager, had asked her to analyze a select number of foreign countries to determine the best pro spects for the local establishment of subsidiary finance companies. He went on to clarify that the mode of entry into the foreign markets-- acquisition of an existing company or a greenfield investment (from the ground up, that is, from a green field)--was not a primary consideration at this stage. The candidate countries were Croatia, Chile, Colombia, Serbia, Philippines, Costa Rica, Australia, Malaysia, Qatar, and Nigeria. With finance companies highly leveraged institutions, the firm was prepared to provide the initial amount of equity capital needed for the establishment of five such institutions. At this stage therefore, the study ought to limit its recommendation to a corresponding number of foreign countries. With this information at hand, Victoria started reflecting on the approach to use for her analysis. Sensing the need to prove her capabilities by delivering a high quality study for her first company assignment, she thought appropriate to first familiarize herself with the pertinent literature on the international expansion of multinational enterprises (MNE) in general and banks in particular, and then review background information o n her employer, and the scope of activities of its financial subsidiary. Hence the sequence of the following sections which address the internationalization process (litera ...
Workers co-determination and industrial productivityserena boccardo
This research proposal aims to explore the impact of codetermination, a form of corporate governance involving worker representation, on firm performance metrics like total factor productivity, efficiency, and growth. While previous research has found mixed results, the proposal will focus on analyzing codetermination's effects within the automotive industry using econometric techniques. The analysis is motivated by debates around balancing employee and shareholder interests through participation models and ensuring sustainable long-term growth.
BERTOS MANUFACTURING CORPORATION Evaluating Markets to .docxikirkton
BERTOS MANUFACTURING CORPORATION
Evaluating Markets to Invest Abroad
E. N. Roussakis and Anastasios Moysidis
Abstract: This case deals with the key considerations when planning an international
expansion through direct investment in foreign markets. These considerations must be
addressed by a finance company seeking to establish foreign subsidiaries to support the
international sales of its parent firm, a U.S.-based multinational enterprise (MNE). The
company already operates three foreign subsidiaries--in Canada, Mexico (both NAFTA
members), and the United Kingdom--but wishes to increase this network further through
entry into additional markets. Ten candidate countries are being considered to determine
the five most suitable for entry. Hence the need for a rational decision of where to invest.
Keywords: Subsidiaries; multinational enterprise; transnational activities; foreign direct
investment; greenfield investment; leveraged institution; wholesale financing; captive
finance company; retail installment contract
1 Introduction
Victoria Pernarella is a recent university graduate in business administration and a new
hire in Bertos Financial Services, Inc., a major finance company in Nashville, Tennessee.
After a month long rotational training to gain insights into the company‟s scope of
activities, she was placed in the international department where she has been assigned to
work on a project. Bill Pappas, her manager, had asked her to analyze a select number of
foreign countries to determine the best prospects for the local establishment of subsidiary
finance companies. He went on to clarify that the mode of entry into the foreign markets--
acquisition of an existing company or a greenfield investment (from the ground up, that is,
from a green field)--was not a primary consideration at this stage. The candidate countries
were Argentina, Australia, Brazil, China, France, Netherlands, Russia, Switzerland,
Turkey, and Venezuela. With finance companies highly leveraged institutions, the firm
was prepared to provide the initial amount of equity capital needed for the establishment
of five such institutions. At this stage therefore, the study ought to limit its
recommendation to a corresponding number of foreign countries.
With this information at hand, Victoria started reflecting on the approach to use for
her analysis. Sensing the need to prove her capabilities by delivering a high quality study
for her first company assignment, she thought appropriate to first familiarize herself with
the pertinent literature on the international expansion of multinational enterprises (MNE)
in general and banks in particular, and then review background information on her
employer, and the scope of activities of its financial subsidiary. Hence the sequence of the
following sections which address the internationalization process (literature review on the
development of MNEs), the mod ...
Compliance with International Financial Reporting Standardsinventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Globalization has increased competition by allowing easier movement of goods, services, capital and information across borders. This has led companies to expand internationally to access new markets and resources. There are several approaches for entering foreign markets including exporting, joint ventures, and foreign direct investment. Companies must analyze political, economic, social, technological and other factors in foreign markets and adapt their marketing strategies to local conditions. Success requires understanding local consumer needs and regulations while maintaining a consistent brand image. International expansion can increase sales and profits but also presents challenges in managing operations across diverse and distant markets.
International Business Management Summary by k.jeetun BSc(Hons) Management Karishma Jeetun
This document provides an overview and learning objectives for a unit on evaluating the contribution of multinational enterprises (MNEs) to host countries. It introduces an evaluation framework with 4 criteria: efficiency of resource allocation, distribution of gains, sovereignty issues, and self-reliance issues. The document focuses on explaining the efficiency of resource allocation criterion, discussing how MNE operations and government policies have impacted resource allocation efficiency over time from an import substitution strategy to export-oriented growth. It also briefly discusses the distribution of gains criterion and challenges in determining a fair distribution of benefits between MNEs and host countries.
Study of International Business Articles.
Part 1: Essential of International Business.
Part 2: Theories applied to International Business.
Part 3: Bargaining Approach and Resources.
Part 4: International Business Phenomena.
Part 5: Internalization.
Part 6: Competitive advantages.
The document discusses five principal environmental factors that affect corporate strategy: competitors, creditors, customers, labor market, and suppliers. It explains how each factor influences business and strategy. Additionally, it discusses two key aspects - cost leadership and differentiation - that contribute to the overall environmental factors of a strategy. The document analyzes how external economic, political, social, and technological forces shape opportunities and threats for businesses.
Alliances and joint-ventures the way forward in Relation marketing in ZimbabweBernard Tapiwa Sithole
The document discusses various types of strategic alliances and joint ventures, providing definitions and examples. It outlines the six markets framework for relationship marketing and applies it to MSU Zimbabwe. It then distinguishes between joint ventures and strategic alliances, providing characteristics and examples of each. The document also discusses benefits and risks of strategic alliances for universities in Zimbabwe and outlines seven common types of strategic alliances - joint ventures, outsourcing, affiliate marketing, licensing, product licensing, franchising, and R&D alliances - giving definitions and examples of each.
ASSESSING THE IMPACT OF OUTSOURCING ON ORGANIZATIONAL PERFORMANCE A CASE OF ...Brittany Allen
This document assesses the impact of outsourcing on organizational performance at Vodafone Ghana using both leading and lagging indicators. A literature review revealed theories supporting outsourcing for cost reduction and focusing on core competencies. Empirical studies showed mixed results - outsourcing positively impacted quality of service and knowledge development but showed no significant relationship with financial performance. A quantitative methodology was used to survey Vodafone Ghana employees using stratified random sampling. Statistical analysis found a moderately positive relationship between outsourcing and quality of service as well as knowledge development, but no significant relationship with financial performance.
Senior Seminar in Business AdministrationBUS499 Strategic Ma.docxklinda1
Senior Seminar in Business Administration
BUS499
Strategic Management and Strategic Competitiveness
Welcome to the Government Contract Law.
In this lesson we will discuss Strategic Management and Strategic Competitiveness.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Identify the vision, mission, and stakeholders of a firm
When you complete this lesson you will be able to:
Identify the vision, mission, and stakeholders of a firm.
Please go to the next slide.
Supporting Topics
The Competitive Landscape
The I/O Model of Above Average-Returns
The Resource-Based Model of Above Average-Returns
Vision and Mission
Stakeholders
Strategic Leaders
The Strategic Management Process
In order to achieve this objective, the following supporting topics will be covered:
The competitive landscape;
The I/O model of above average-returns;
The resource-based model of above average-returns;
Vision and mission;
Stakeholders;
Strategic leaders; and
The strategic management process.
Please go to the next slide.
The Competitive Landscape
Competition is Changing
Money is scare
Markets are becoming volatile
Firms effectively using the strategic management process
Hypercompetition
Challenge competitors
Competition between many of the world’s industries is changing. Many of these industries are competing due to money being scare and markets becoming volatile. Boundaries that once seemed drawn between industries are becoming blurred. An example of this challenge would be the advances in interactive computer networks and telecommunications. These advancements have entered into the realm of the entertainment industry. We also see that many partnerships in the entertainment industry further blur the boundaries of the industry. In order to be successful and maintain a competitive edge, managers must adopt new strategies to stay current with the evolving conditions.
Many firms effectively use the strategic management process to help reduce the likelihood of failure with various challenges they may encounter.
Hypercompetition is a term often used to illustrate the competitive landscape. The conditions of hypercompetition assume that market stability is replaced by notions of inherent instability and change.
Hypercompetition results from the dynamics of strategic maneuvering among global and innovative combatants. It is a condition of rapidly escalating competition based on the following:
Price quality positioning;
Competition to create new know-how and establish first mover advantage; and
Competition to protect or invade established product or geographic markets.
In a hypercompetitive market, firms will want to challenge their competitors with the end goal of improving their competitive position and performance. The emergence of a global economy and technology along with specifically rapid technological changes are the two primary elements of hypercompetitive environments and help create to.
ECO/561 Week 6 Assignment Rubric
Individual Assignment: Challenges of Expansion to a Foreign LocationPurpose of Assignment
This week students will review and revise their Week 3 Research Analysis for Business assignment based on economic analysis and the feedback provided by their facilitator. Students will also expand their Week 3 analyses to evaluate the challenges of expanding their chosen company's production to a foreign market.
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.
Grading Guide
Content
Met
Partially Met
Not Met
Comments:
Evaluated current global economic conditions and their effects on macroeconomic indicators in your selected country. Provided forecasts for population growth, gross domestic product (GDP) growth, GDP per capita growth, export growth, and sales growth.14 points
Evaluated any competitors' existing production in the chosen country. 11 points
Assessed sales forecasts in the selected country. 11 points
Categorized the type of economy that exists in your selected country as closed, mixed, or market. Explained the difference between these types of economies and how might this affect your expansion. 11 points
Assessed how the chosen country's current credit market conditions, especially interest rates and the availability of financing, affect demand for your product or service and your planning or operating decision for your production in that country. 11 points
Analyzed the role of the selected country's central bank on that country's economy. 11 points
Compared the availability, education, and job skills of the work force in the selected country. Discussed any additional challenges of international production, such as political stability, availability of government financing or other incentives, threat of capital controls, and exchange rate risks. 11 points
Explained any additional supply chain challenges you anticipate if attempting to make your product in your chosen country and selling the product in other countries. 11 points
Conclusion:
Created business strategies, including price and non-price strategies, based on your market structure to ensure the market share and potential market expansions and explore global opportunities for your business in a dynamic business environment and provide recommendations. 4 points
Develop a recommendation for how the firm can manage its future production by synthesizing the macroeconomic and microeconomic data presented. 4 points
Proposed how the firm's position within the market and among its competitors will allow it to take your recommended action. 4 points
Recommended strategies for the firm to sustain its success going forward by evaluating the findings from demand trends, price elasticity, current stage of the business cycle, and government. 4 points
Recommended any comparative adv ...
There are several strategies for entering foreign markets, including direct exporting, licensing, franchising, partnering, joint ventures, buying an existing company, piggybacking, turnkey projects, and greenfield investments. Each strategy has advantages and disadvantages depending on factors like tariffs, required product adaptation, costs, and regulations. Partnering and joint ventures allow sharing of risks, resources, and local knowledge but can also create competition if not structured properly. Turnkey projects provide a complete solution for complex infrastructure projects but local subcontracting opportunities. Greenfield investments require the most involvement but may be necessary due to various market factors.
This document discusses the drivers and hurdles of globalization. The key drivers that propel globalization forward are technological advances in transportation and communication, political liberalization of trade policies, saturation of domestic markets leading companies to internationalize, leveraging costs differences between countries, and increased global competition. However, globalization also faces hurdles such as technological standards barriers between countries, cultural differences that make cross-border business difficult, debates around the ethics of international trade practices, and economic trade barriers that governments impose.
New Trade Theory and Competitive Advantage Theory BhutheshRS
This document discusses international business and international trade theories, including the New Trade Theory and Porter's Diamond Model of national competitive advantage. The New Trade Theory focuses on increasing returns to scale and network effects. It assumes imperfect competition and economies of scale. Porter's Diamond Model identifies four determinants of national competitive advantage: factor conditions, firm strategy/rivalry, related/supporting industries, and demand conditions. Together these theories aim to explain patterns of international trade and sources of national success in global markets.
Human Resources Management Practices and Productivity of Selected Mncs in Eme...inventionjournals
This study investigates the mode of entry of multinational corporation and their performance Nigerian market. Research on the entry mode of multinational companies (MNCs) to Nigerian market has been one of the major topics in the international business, and the performance factor has been regarded as one of the major factors to explain the entry mode selection of MNCs. Based on the developing nature of the Nigerian market, MNCs can enter a market with Franchising, Licensing agreement, Exporting, joint venture or a wholly owned subsidiary, and Turnkey. This study test reasons for entering in the Nigerian market, modes of entering, challenges faced by multinational during entry and finally the impact of mode of entry of MNCs and their performance in the Nigerian market. The research adopted the survey method, with the use of the Questionnaire. The results from the analysis on the first hypothesis show that a MNCs come into the Nigerian market for different reasons with different modes peculiar to their organization. The second hypothesis indicated that there are various challenges MNCs faced when entry into Nigerian market. And the third hypothesis was supported indicating significant influence of mode of entry on the performance of MNCs in Nigerian markets.
MN6001 Business Without Borders, Assignment 3 (i)James Doherty
This document reflects on the author's university experience and international business management theories. It discusses several key points:
1. The importance of reflection in international business to learn from past experiences and mistakes. Managers should critically analyze projects to develop knowledge databases.
2. Globalization has reshaped business and theories through blurred boundaries and increased interconnections. Firms like P&G have adapted well through geocentric practices, while others like American Airlines struggled without change.
3. In group work, strong communication is vital for success, and language/cultural barriers can cause issues in multicultural groups if not addressed. Effective collaboration across differences is an important skill.
Similar to Purpose of AssignmentThe purpose of the learning team assignme.docx (20)
Your employer is pleased with your desire to further your educatio.docxwoodruffeloisa
Your employer is pleased with your desire to further your education and would like you to inform other employees about the process of online education; however, she still has questions about applying. Using proper memo format, and Figure 6-1 of the textbook, explain the process of applying for a degree at CSU. Use word processing software, such as Microsoft Word, to create your memo.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Pfeiffer, W., & Adkins, K. (2012, 109-110).
Technical communication fundamentals
. Upper Saddle River, NJ: Prentice Hall.
.
Your finished project, including both elements of the paper, should .docxwoodruffeloisa
Your finished project, including both elements of the paper, should be approximately 12 to 14 double-spaced pages, not including the cover or reference pages but including the abstract, submitted as one document. Make sure you present an introduction and a conclusion tying together both aspects of the paper. Follow the guidelines in either Course Content or in the conference. You must post your selection in this conference. The paper is due at the end of week 8 and must be submitted in your Assignments folder. Review the late policy above. The paper will not be accepted late.
.
Your first task is to find a public budget to analyze. It is suggest.docxwoodruffeloisa
Your first task is to find a public budget to analyze. It is suggested you focus on a city/county department, a small municipality/township, a school district, a special district (such as a forest preserve district, stadium district, or water district), a community college, a small public university, or a single state agency.
Be sure not to choose a budget that is too large to analyze in one written exercise. Most budgets are readily available on the institution’s website or by contacting the budgeting/finance department. Many local libraries will also have these documents.
In your analysis, you should address the following items/questions:
Offer a brief overview of your chosen agency. What are its primary functions and roles in the community?
What are the primary expenditures for your chosen agency?
How do these expenditures determine public policy priorities?
Has the agency’s budget increased or decreased since last year? What does this indicate about the success of the agency and its ability to deliver services?
Is the agency allocating resources wisely?
What recommendations would you offer, in terms of resource allocation, for the agency in the future?
The entire budgetary analysis should be 8 to 10 pages in length and should be submitted in Unit VIII. The Final Project
must incorporate no fewer than five (5) peer-reviewed journal articles to bolster your analysis of the budget. You should be able to apply the theories learned in class to your case. The project must conform to APA format, and all sources must be properly cited and referenced.
.
Your essay should explain the trip from your personal point of view,.docxwoodruffeloisa
The essay should be written from your personal point of view about the trip, explaining your experience and what you learned without just listing historical facts or timelines. It should discuss your impressions of the location, any surprises or disappointments, and any knowledge or wisdom you gained from the trip.
Your dilemma is that you have to make a painful medical decision and.docxwoodruffeloisa
Your dilemma is that you have to make a painful medical decision and
to explain, in writing, who benefits from what you decided, who gets
denied a needed benefit, and why. The document is to be in the form of
an official memorandum that will be kept for the record and could be
potentially read by not only your Peer Review Committee, but also
possibly those involved in charitable fundraising to support hospital
development and others with financial interests in the choice made.
Include in the document the utilitarian ethical philosophy of John
Stuart Mill (The Ethics of Consequences) and ONE OTHER ETHICAL
PHILOSOPHER of your choice and use both of those philosophies to bolster your decision.
We can do John Stuart Mill and Jeremy Bentham for the two utilitarian ethical philosopher. They said: The Principle of Utility from Bentham and Mill expressed in ethical form is this: “We should act in such a way as to maximize the happiness of everyone affected by our actions.” This was a radical idea, because it included no references to religion and had a purely human focus. It was also teleological (learn this new word), because it focused only on the consequences of decisions.
This paper will be at least two double spaced pages but
limited to three pages. Remember both professional written form and
potential audience, as well as tone when writing this sensitive paper.
Your assignment is to make the decision using utilitarian ethics and
then to write it up in the form of a Memorandum for the hospital
records.
The Memorandum should be at least two double-spaced pages with a
maximum of three pages, in memorandum form, ready to become an
official item of record.
Scenario You Decide
One of the great ongoing situations that calls for ethical decision
making is the reality that there is almost always a greater need for
something than there is a supply to meet the need.
For our assignment and scenario, the demand is the life-and-death
situation of the need for transplantable organs and the rather small
and transitory supply. Hard decisions need to be made, and there is
little time to think things through. These are emergency situations.
Transplantable organs become available on short notice--usually
because a donor has died for reasons unrelated to the organ. They need
to be removed and transplanted very quickly because they only remain
fresh for a limited period. Then there is the whole complicated issue
of tissue type matching. There is also an ongoing concern about how
long recipients can wait.
Scenario:
Ok, Lead Surgeon, its time to do what you do the best!
You are the Lead surgeon in a major hospital, and by virtue of your
seniority you are also the key decision maker for transplant cases.
Right now you have three people who are waiting and hoping for a
suitable heart to become available. Your call phone rings suddenly,
and you are notified that a heart has become available- meaning that
you need to make a quick yet sound decision about which patient wil.
your definition of moral reasoning. Then, compare two similarities.docxwoodruffeloisa
your definition of moral reasoning. Then, compare two similarities and two differences in moral reasoning across the two cultures you selected. Finally, describe two culture-specific factors that might lead to these differences and explain how.
and the two cultures that I selected is Muslim and India's
.
Your company is in the process of updating its networks. In preparat.docxwoodruffeloisa
Your company is in the process of updating its networks. In preparation for the upgrade, your CEO has requested that you write a white paper (search term: White paper template) explaining the various telecommunication technologies. Begin by explaining basic telecommunication channel characteristics (minimum 5). Next discuss at least three network types (for example: Local Area Network/LAN). Then differentiate between client/server networks and peer to peer networks. Finally, recommend a network type and identify and describe three types of telecommunications hardware that will be required to set up this network. Conclude by explaining three things the company can do to secure their network.
.
Your company has just announced that a new formal performance evalua.docxwoodruffeloisa
Your company has just announced that a new formal performance evaluation system will be used (effective immediately). One of your supervisor's anniversary date is coming up and the human resources (HR) manager has asked you not only to rate this supervisor but to develop a grading form to use for her and other supervisors.
Assess the leadership, interpersonal skills, and earned values on other areas of concentration you deem necessary to rate the overall performance of any supervisor you have worked with, observed, know of, worked for, been supervised by, or supervised. Include your objective reasoning for eachassigned grade with an explanation of one or more sentences.
For example, on a scale of 1–9 (superior performance), you rate the supervisor as a 4; your explanation might be as follows:
Rarely held department meetings
Poor verbal communication skills
Uses foul language when counseling employees
.
Your CLC team should submit the followingA completed priority.docxwoodruffeloisa
Your CLC team should submit the following:
A completed priority analysis
Determination of which project is to be undertaken first, along with a summary of why the project was chosen, including an explanation of the relationship between the project and the organization’s mission, vision, and objectives
I AM ONLY RESPONSIBLE FOR QUESTION TWO.
Please see attachment for completed project.
.
Your classroom will be made up of diverse children. Research what va.docxwoodruffeloisa
Your classroom will be made up of diverse children. Research what varying cultures are represented in your community and the school/district resources that are available to support families. Also, include additional resources that may not be directly provided by the school or school district.
Write a 500-750-word plan for community culture that will support families in the school/district. Include information about the varying cultures in the community.
Identify how selected resources can provide positive support for families. This assignment can be presented as a brochure or document; be creative.
.
Your business plan must include the following1.Introduction o.docxwoodruffeloisa
Your business plan must include the following:
1.
Introduction of the proposed business;
2.
Description and explanation of the type of business entity that is best for your business;
3.
Description of the specific steps needed to be followed to successfully and legally start the business;
4.
A draft of a valid contract with a vendor, supplier, customer, etc. that illustrates all elements of a contract and takes into consideration some of the topics discussed in the contract chapters;
5.
Possible ethical considerations for your business, including any social responsibility plans or attitudes that your business will embrace;
6.
Description of a possible disagreement that could be encountered among the partners or investors and shareholders; and
7.
Illustration of the various ways the disagreement could be resolved (referring back to the formal documents, such as the articles of incorporation or the partnership agreement).
This paper must be 1,500–2,100 words, double-spaced, Times New Roman font or similar, and include at least 3 citations/sources in current APA format.
.
Your assignment is to write a formal response to this work. By caref.docxwoodruffeloisa
Your assignment is to write a formal response to this work. By carefully describing subject matter, medium, form, and context, you should be able to arrive at a thoughtful well -defended interpretation of the piece. (1) Describe it . Thoroughly. If it is representational, what is the subject matter depicted? If it is non -representational, say so. What does it look like? What is the medium? Have we studied/do you know anything about the process that resulted in the work? What size is it? Is it a 2 -dimensional or 3 -dimensional piece? Which formal elements stand out to you? What are the colors being used? Be as descriptive as possible. (2) Contextualize it . What is the title? What is the name of the artist who created it? Do you know anything about the artist? Is there a statement giving you more information? In which year was it made? Where is it being displayed as you are looking at it? How is it being displayed? Are there other works by the same artist there to give you more context? Can you compare and contrast it to other works you’ve seen elsewhere or studied ? (3) Interpret it. Based on your description, what do you think the artist was trying to say? It may be difficult to separate this interpretation from the descriptive process and it is okay if the two aspects are interwoven. (4) Respond to it. Though I am not interested in merely hearing whether or not you like the piece, I also want you to meaningful respond to the work. As art -critic Peter Scheldahl proposes, a question more valuable to ask yourself can be, “If I were someone who did like this piece, why would I like it?” Who is its intended audience and are you among that audience? Why did you choose this particular piece? What does it make you think about? Why do you think that the artist made the choices that she or he did? Do you agree with all of those choices? Is the artist’s intention clear/well -executed? How do you feel about the way in which the work is being displayed? Would it be more suitably exhibited somewhere else or alongside different work? This part of the paper may contain judgments, but at this point they will be well founded. Never make a proclamation without continuing the sentence with the because… Your response should be a minimum of one and a half double -spaced pages, 12 point font. If you are thorough in your description, you should find that you easily exceed this length.
Name of this Artwork: The Black Ring
.
Your assignment is to write about the ethical theory HedonismYour.docxwoodruffeloisa
This assignment asks students to write a graduate-level critical review summarizing the ethical theory of hedonism and how it relates to ethical and unethical behavior in the criminal justice system, supported with additional research. Students must discuss how hedonism, which focuses on pleasure as the ultimate good, is applied to criminal justice practices and decision making.
Your assignment is to write a short position paper (1 to 2 pages dou.docxwoodruffeloisa
Your assignment is to write a short position paper (1 to 2 pages double spaced, or roughly 250-500 words) answering ONE of the following two questions:
(1) How much appropriation do you think is justifiable in creating new works of art which draw on previously existing source material? As case studies, consider Nina Paley’s use of Annette Hanshaw’s music in
Sita Sings the Blues
and Shepard Fairey’s adaptation of an Associated Press news photograph for his 2008 Barack Obama “Hope” campaign poster. In each case, do you feel the artist was right or wrong in the way they used the material? Were the corporate entities involved right or wrong to claim their copyrights gave them the power to suppress these works?
-OR-
(2) When an artist freely adapts material that is strongly associated with a culture other than his or her own, does that artist have a special responsibility to avoid offending some members of that culture? Would the same standards apply to an artist from within the culture? As a case study, consider Nina Paley’s contemporary retelling of the Ramayana epic in
Sita Sings the Blues
. Some Hindus condemned the film while other Hindus applauded it. When, if ever, should an artist compromise his or her vision in deference to interest groups claiming offense?
Whichever question you choose, you may argue pro or con or somewhere in between, but whatever side you are on, you should avoid emotional rants and baseless charges. Summarize each side’s position, and use specific evidence and sound reasoning to support your case. Your writing will be assessed according to the amount of time and thought you put into the work, the persuasiveness of your reasoning, and the clarity of your writing. You may refer to outside sources if properly cited, but do not copy from websites or other authors; use your own words. As always, grammar, spelling, and style count; be sure to proofread your paper for any mistakes.
.
Your assignment is to report on a cultural experience visit you .docxwoodruffeloisa
Your assignment is to report on a "cultural experience" visit you make during this term. The experience should be done in person. (If this is impossible, contact the instructor to arrange for an alternative assignment.) You may not report on a cultural experience from prior to this class. After the visit, write a 500-800 word report about the visit and what you learned.
You should attend or visit one of the following.
a museum or display of art, culture, or technology
a sculpture garden
a significant or notable architectural site (if there is explanatory material there to help you understand it)
a music concert
a street art festival
a play, poetry reading or other spoken word performance
a dance performance
an important or notable historical site (if there is explanatory material there to help you understand it)
a religious service, ceremony or ritual for a religion very different from yours, if you practice (for instance, if you are Christian, you may not go to another Christian denomination's service)
other displays or performances
may
be acceptable.
Check with your instructor for approval beforehand.
After your
cultural experience visit,
write a report that includes the following information. (Please number the sections of your report to match):
Name and location of the museum, site, or event. If there is on-line information about the site or performance, include a link.
Type of museum, site or event. For example, is it a portrait museum, a poetry slam, an outdoor Shakespeare festival performance? If you attended a performance, name the performer or the piece. Be specific about
what
you attended,
when
, and
where
.
Briefly describe the general setting.
Describe
one or more parts or aspects
of the experience—for example, a particular work of art, cultural artifact, song, dance section, scene in a play, costumes or lighting, one particular actor or vocalist—that you found especially interesting. Explain what impressed you, and why. Your reaction can be positive or negative, as long as you offer an explanation for your reactions.
Identify and use at least two things you've learned in class to that you can connect to your experience. For example, if you visit a museum, you might point out the architectural style, discuss an artist you've learned about in the course, tie in your experience with a class discussion, make use of a concept presented in a class assignment. We've learned how visual arts and musical arts ( hearing are and can be different as you get a differen experence from it), also we have learned that different experiences bring different meaning and different ways of seeing things.
Include photos or links to images on a web page to help convey the information.
How did the experience engage your feelings or emotions, if at all? What does this tell you about human culture
Reflect on the relevance--if any--of your experience to your everyday life.
.
Your assignment is to create a Visual Timeline” of 12 to 15 images..docxwoodruffeloisa
You are assigned to create a visual timeline of 12-15 images that chronologically illustrates the growth of American art from pre-Columbian cultures to modern art of the 1950s. You should select artists such as Jacob Lawrence, Georgia O'Keeffe, Andrew Wyeth, George Bellows, or Elizabeth Catlett that best represent America's artistic heritage. Provide a brief introduction explaining your selection process and labeling each image with the artist, title, dimensions, medium, and date.
Your annotated bibliography will list a minimum of six items. .docxwoodruffeloisa
Your annotated bibliography will list a minimum of
six items
.
Four
of them must be from credible, academic, peer-reviewed sources that you find as you do research for the final essay.
The remaining two
sources must be credible, but they can come from sources other than academic journals if you wish. When you write, use standard MLA typographic and citation format, and then extend each Works Cited entry with a summary of the major arguments in the essay you have read. Each summary must contain
a minimum of 100 words
.
If desired, append a list of “Works Consulted” for sources used that are
not
peer-reviewed.
Basic MLA Style Format for an Annotated Bibliography
Format your page and list of citations in the same way you would a normal Works Cited page, then add your annotation at the end of it.
Title your bibliography “Works Cited” at the top of the page. Center it, but do not put it in bold face type.
Put entries in alphabetical order, not the order in which they have been assigned.
Use hanging indents
, as shown below. That is, the first line of the citation starts at the left margin. Subsequent lines are indented 5 spaces.
As with every other part of an MLA formatted essay, the bibliography is
double spaced
throughout.
The
annotation is a continuation of the citation
. Do not drop down to the next line to start the annotation.
The
right margin is the normal right margin
of your document.
There is a right way and a wrong way to write up these entries.
Don’t “report”
the arguments the author makes or tell readers the order in which those arguments are presented and count all of that reporting and listing as “summary” or annotation. Instead, restate in your own words the claims made by the writer in his/her essay.
Wrong way to do it
: "Marotti introduces his argument in the first section of the essay; then he moves on to talk about Petrarchan conventions. He ends the essay by talking about the political ramifications of Shakespeare's sonnets."
Right way to do it:
"Marotti’s argument here is that the sonnet genre must be understood in three ways: by examining the text itself, by examining the text in relation to others of its kind, and by exploring the social/historical environment in which it was published and circulated . . ."
Sample Annotations
NOTE:
These entries provide models of both format and content. They summarize—rather than “report”—the essay described.
Marotti, Arthur F. ""Love is Not Love": Elizabethan Sonnet Sequences and the Social Order."
ELH
2(1982): 396-428. Marotti’s argument here is that the sonnet genre must be understood in three ways: by examining the text itself, by examining the text in relation to others of its kind, and by exploring the social/historical environment in which it was published and circulated. Using those criteria, he argues that we should understand sonnet sequences as more than just a collected string of Petrarchan love poems. The 16
th
century sequences suddenly fell out o.
Your business plan must include the following1.Introduction of .docxwoodruffeloisa
Your business plan must include the following:
1. Introduction of the proposed business;
2. Description and explanation of the type of business entity that is best for your business;
3. Description of the specific steps needed to be followed to successfully and legally start the business;
4. A draft of a valid contract with a vendor, supplier, customer, etc. that illustrates all elements of a contract and takes into consideration some of the topics discussed in the contract chapters;
5. Possible ethical considerations for your business, including any social responsibility plans or attitudes that your business will embrace;
6. Description of a possible disagreement that could be encountered among the partners or investors and shareholders; and
7. Illustration of the various ways the disagreement could be resolved (referring back to the formal documents, such as the articles of incorporation or the partnership agreement).
This paper must be 1,500–2,100 words, double-spaced, Times New Roman font or similar, and include at least 3 citations/sources in current APA format.
.
you wrote an analysis on a piece of literature. In this task, you wi.docxwoodruffeloisa
you wrote an analysis on a piece of literature. In this task, you will write an analysis (
suggested length of 3–5 pages
) of one work from the disciplines of visual art or music. Choose
one
work from the list below:
Classical Period
Art:
• Exekias,
Achilles and Ajax Playing a Dice Game
(Athenian black-figure amphora), ca. 540−530 BCE
• Praxiteles,
The Aphrodite of Cnidus (Knidos)
c. 350 BCE
• Alexandros of Antioch,
Venus de Milo
, between 130−100 BCE
• Apollodorus of Damascus,
Trajan’s Column
, c. 107 CE
• After Leochares,
Apollo Belvedere
, c. 120 CE
• Agesander, Athenodorus, and Polydorus of Rhodes,
The Laocoön Group
, Late 2nd Century
Renaissance
Art:
• Leonardo da Vinci,
Annunciation
, c. 1472
• Titian,
Bacchus and Ariadne
, c,1520
• Hans Holbein the Younger,
The Ambassadors
, 1533
• Marcus Gheeraerts the Younger,
Queen Elizabeth I (Ditchley Portrait)
, c. 1592
Music:
• Josquin des Prez, Mille Regretz (French Chanson), c. 1521
• Giovanni Pierluigi da Palestrina,
Sicut Cervus
(motet), c. 1581
• Thomas Morley,
Now is the Month of Maying
, 1595
• John Farmer,
Fair Phyllis
(English Madrigal) 1599
NeoClassical (Art) / Classical (Music)
Art:
• Antonio Canova,
Psyche Revived by Cupid’s Kiss
, c. 1777
• Jacques Louis David,
The Death of Socrates
, 1787
• Sir John Soane,
Bank of England
, 1788–1833
• Ingres,
La Grande Odalisque
, 1814
Music:
• W.A. Mozart, Piano Concerto No. 20 in D Minor, K. 466 – “Romanze” (second movement), 1785
• W.A. Mozart, Overture to
The Marriage of Figaro
K. 492, 1786
• Franz Joseph Haydn, Symphony No. 94 in G Major (
Surprise
), 1792
• Ludwig van Beethoven, Symphony No. 5 in C Minor, Op. 67,”Allegro con brio” (first movement), 1804–1808
Romanticism
Art:
• Henry Fuseli,
The Nightmare
, 1781
• John Constable,
The Hay Wain
, 1821
• Eugene Delacroix,
The Death of Sardanapalus
, 1827
• J.M.W. Turner,
Slave Ship
, 1840
Music:
• Franz Schubert,
Erlking
D.328 (Lied), 1815
• Hector Berlioz,
Dream of the Witches’ Sabbath
from
Symphonie fantastique
, 1830
• Clara Schumann,
4 pieces fugitives
, Op.15, 1853
• Bedrich Smetana,
The Moldau from Má Vlast
, 1874
Realism
Art:
• Gustave Courbet,
The Stone Breakers
, 1849
• Rosa Bonheur,
The Horse Fair
, 1852-1855
• James Whistler,
Arrangement in Grey and Black, No.1: Portrait of the Artist's Mother
, 1871
• Édouard Manet,
A Bar at the Folies-Bergère
, 1882
Music:
• Stephen Foster,
Old Folks at Home
,1851
• John Philip Sousa,
The Stars and Stripes Forever
, 1896-97
• Giacomo Puccini,
Madama Butterfly
, 1904
• Julia Ward Howe,
The Battle Hymn of the Republic
, 1862
Use the link near the bottom of this page to access direct links to the works listed above.
Once you have selected and viewed the work, you will create a paragraph of descriptive writing with your personal observati.
You work for a small community hospital that has recently updated it.docxwoodruffeloisa
You have been asked to analyze the efficiency, security, and privacy of your hospital's recently updated electronic health record system and provide a 5-7 page executive summary report to the COO. The report should examine the emergence of health technology and EHRs since HIPAA, analyze current trends in health records and charting as they relate to advances in technology, and assess how modern patient record systems can support operations through privacy, quality care, cost administration, and records access and retention.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
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Website: https://pecb.com/
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Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
Purpose of AssignmentThe purpose of the learning team assignme.docx
1. Purpose of Assignment
The purpose of the learning team assignment is to offer students
the opportunity to investigate their understanding of how
globalization affects a company's strategic plan. Additional
objectives include allowing students to assess the effectiveness
of strategic alliances in the growth process of a company and to
understand the necessity for innovation to create a sustainable
long-term organizational environment. The students will also
identify how organizational structures facilitate company
growth and controls in the global environment.
Assignment Steps
Create a 4-slide Microsoft® PowerPoint® presentation
(excluding the title slide and references) with speaker notes and
address the following topic:
· Evaluate the effects of globalization on strategic management
planning.
International Journal of Management Vol. 29 No. 4 Dec
2012 531
The Effects of International Diversification on Firm
Performance: An Empirical Study across Twelve
European Countries
Alfredo M. Bobillo
University of Valladolid, Spain
Felix López-Iturriaga
2. University of Valladolid, Spain
Fernando Tejerina-Gaite
University of Valladolid, Spain
The relationship between international diversification and firm
performance is a
binomial that has led to many investigations leading to mixed
results, in some cases
there is a positive relationship, in others no significant
relationship or even negative. In
this paper we try to find the possible reasons why these results
occur. The international
diversification is assessed by the ratio of exports to total
turnover. Besides, we extend
the research to the different performance that industrial and
service firms could have,
bearing in mind, too, if their business culture base originates
from civil law or common
law countries. Based on a sample of 1721 firms from twelve
European countries, we
compare this relationship for the 2000-2009 period. The
empirical results obtained
show a stronger ID-performance positive relationship in service
firms than in industrial
ones. Those firms with a culture based on civil law systems
(bank oriented financial
system) will have greater flexibility to counteract the negative
relationship between ID
and performance, than those firms with culture based on
common law systems (capital
market oriented system).
Introduction
Accessing foreign markets is becoming a more and more
attractive option for firms.
3. International diversification (ID) is a stabilisation procedure for
the firm’s sales and
also a way of reducing the risks derived from the reduction in
demand on the domestic
market. Likewise, the presence of a firm on the global market
entails greater derived
risks, mainly due to the greater uncertainty and commitment of
resources entailed by this
action. It also represents a challenge to improve their
competitiveness in their fight with
local firms (Lucas, 1993; Bowen & Wersema, 2005). The degree
of internationalisation is
also contemplated as a pre-condition for the firm to become
more financially successful
(Annavarjula & Beldona, 2000; Ruigrok & Wagner, 2003).
Consequently, by way of international expansion, firms seek a
way of improving their
long-term financial profitability, extending diversification in
general (Graham et al. 2002;
Campa & Kedia, 2002) and diversification via foreign markets
in particular (Kotabe et
al., 2002; Lu & Beamish, 2004). However, the efficiency of
these actions is frequently
questioned. Nevertheless, the resource-based view of the firm,
based on strategic
management (Barney, 1991; Kogut & Zander, 1993) and the
theory of internationalisation
532 International Journal of Management Vol. 29 No. 4 Dec
2012
of foreign direct investments (Buckley & Casson, 1976; Hymer,
1976) indicate that the
4. greater the involvement of a firm on international markets, the
greater the possibility of
exploiting its tangible and intangible assets in search of greater
profitability.
In this context, faced with situations where there is a reduction
in profit margins
on domestic markets, firms seek to improve their profitability
through international
diversification. Therefore, the underlying question is to what
extent does international
diversification affect the company’s profitability? It is also
worth asking what the ID-
performance relationship is like and how it differs, regarding
profile, in industrial and
service firms. In this context, La Porta el al. (1997, 1998) point
out that each country’s
legal system is related to its financial system. In agreement with
this idea, investors are
the ones that provide the firms with funds for their growth,
which means that the greater
the legal protection, both of shareholders and of bondholders,
the greater the certainty of
exercising their ownership rights. Therefore, in those countries
where the legal protection
of investors is high (common law system), the capital markets
are the most important
source of funds that firms will use to finance their international
expansion. However, in
those countries where the protection of investors is weak (civil
law system) the source
providing the resources for the firm’s international expansion is
the banking system.
The above arguments enable us to postulate that the
international expansion of firms
5. from countries where greater investor protection prevails
(common law system) could
be favoured more, compared with firms from countries with less
investor protection
(civil law system).
The remainder of the paper is organised as follows: Firstly, we
present the literature and
hypothesis about the relationship between ID and performance.
Secondly, we show the
study methodology. Thirdly, the results will be provided. And,
finally, the conclusions
will be discussed.
Literature and Hypothesis
International diversification becomes a growth strategy for a
firm whose aim is to capture
the opportunities offered by foreign markets (Capar & Kotabe,
2003). In this regard, the
relationship between ID and a firm’s financial performance is a
widely debated topic
by researchers in the field of strategic management and
international business. The
internationalisation option offers firms different advantages
related to economies of scale,
scope and learning, derived from accessing foreign markets
(Kogut, 1985; Ghoshal, 1987;
Kim et al., 1989, 1993), at the same time as they can develop
their main capabilities in
different business segments and different geographic markets
(Hamel, 1991). In other
words, the aim is to extend these capabilities, which have
previously been generated in
the domestic markets, in the form of tangible and intangible
assets abroad, in order to
6. improve the firm’s financial performance (Hymer, 1976).
Similarly, accessing foreign markets offers firms the
opportunity to integrate their
activities across the national borders by marketing standardised
products, rationalising
production and allocating resources in a more efficient way
(Kobrin, 1991). Likewise, the
exploitation of the market imperfections and international
transactions, through transfer
International Journal of Management Vol. 29 No. 4 Dec
2012 533
prices, could represent another competitive advantage of
international diversification,
which would be reflected in a greater negotiating power for the
firm. The above arguments
enable us to venture a close relationship between ID and a
firm’s financial performance,
which for some researchers is linear and positive (Daniels &
Bracker, 1989; Grant, 1987;
Gomes & Ramaswamy, 1999; Geringer et al., 1989). Other
studies have reached the
conclusion that there is no relationship or that there is even a
negative linear relationship
(Shiddhartan & Lall, 1982; Kumar, 1984; Michel & Sacked,
1986; Collins, 1990; Denis
et al., 2002). Finally, another approach has found a curvilinear
relationship, in some cases
U-shaped (Ruigrok & Wagner, 2003; Capar & Kotabe, 2003),
inverted U-shaped (Hit
et al., 1997; Ramaswany, 1993) or S-shaped (Contractor et al.,
2003; Lu & Beamish,
7. 2004; Chang & Wang, 2007).
The results of the above papers show that, although at moderate
ID levels there are
important benefits for firms, the transaction costs entailed by
the internationalisation
processes make the firms’ financial performance decrease,
above all during the first
stages, due to the increase of management costs involved by
committing resources abroad.
The papers mentioned refer to industrial firms and one can
question if these results could
be extended to service firms. The reasons behind the
internationalisation of the latter are
basically the same as for industrial firms (labour costs, access
to international markets,
etc.), so service firms could benefit, just like industrial firms,
from economies of scale
at several stages of the value chain (Dunning, 1989) or from
obtaining economies of
scale in marketing activities (Campbell & Verbeke, 1994).
However, these arguments
assume that service firms, like industrial firms, incur fixed
costs regardless of the results
obtained (Katrishen & Scordis, 1998).
Despite the reasons given, it could be considered that the
relationship between ID
and a firm’s financial performance in service firms is different
to the relationship for
industrial firms. There are reasons, such as the greater
regulation related to ownership, the
preferences in local policies of national firms, the different tax
treatment and employment
rules for local companies (Feketekuty, 1988; Knight, 1999) that
8. would affect service firms
and not industrial firms, and which could represent a greater
decline of profitability for
service firms, above all, during the first stages of
internationalisation. If we consider this
argument, it can also be put forward that multinational service
firms support an increase
in costs due to the greater need to adapt the services to the local
needs than industrial
firms, based on cultural differences (Kapar & Kotabe, 2003).
We can also point out
that many services simultaneously require production and
consumption (inseparability)
which, in certain cases, requires the multinational firm to own a
production subsidiary
in the host country in order to be able to carry out its business
(Boddewyn et al., 1986).
Consequently, greater investments are required for service firms
to access foreign
markets than for industrial firms, which makes it difficult for
these firms to benefit more
immediately from economies of scale, due to the high
government costs incurred.
In short, due to the specific traits of service firms: intangibility,
inseparability,
heterogeneity and alterability of their outputs, we can pose the
following hypothesis:
534 International Journal of Management Vol. 29 No. 4 Dec
2012
H1: The relationship between ID and a firm’s financial
9. performance in service firms (non-
linear U-shaped) differs from the profile of industrial firms
(non-linear S-shaped).
In the context of legal systems (civil law vs. common law) the
regulations resulting from
them can be expected to have an influence in different ways and
to a different extent on
the private relationships of the individuals. Therefore,
according to Keizer (2008) the
explanation of the reasons for the firms’ performance would
have to be sought in the rules
and regulations of those that govern them. Therefore, the legal
system that reigns in each
country may favour the negotiating power of firms when
cancelling different contractual
relationships. Thus, in the common law system, the cancellation
of incomplete contracts
would be facilitated by the judges’ flexibility to create laws and
integrate any problem
that was inexistent until then within the legal framework. Both
systems maintain a high
level of contractual development; however, they differ in
effectiveness when enforcing
the contractual regulations, giving rise to different levels of
legal uncertainty. Thus, there
must be a set of rules that will make the level of uncertainty
decrease. From the financial
viewpoint, this approach favours greater or lesser
interventionism of the authorities in
the economic activity of the citizens and the firms.
The arguments listed above have been used as the basis to
structure bank-oriented
or capital market-oriented financial systems, depending on the
level of uncertainty
10. entailed by executing the contractual agreements that arise from
the economic-financial
relationships.
On their part, the different specific economic activities of each
firm may differ with
respect to the financial services they require to execute them.
Some activities will
demand radical innovation and will need to be executed in a
short period of time, whilst
others will require a longer gestation period and an incremental
innovation process that
will lead to the firm obtaining a sustainable competitive
advantage. In this scenario,
the international diversification of the firm’s operations is
associated with a long-term
incremental resource commitment process and with a chain of
successive innovations
to improve the competitiveness of their products.
The main consequence of this proposal could give rise to the
consideration that
firms belonging to countries with corporate government
systems, “outside systems”,
characterised by a high liquidity of the capital market, a large
number of listed firms,
disperse ownership structure and active corporate control
markets, would be in better
or worse conditions to cope with international diversification
activities than those firms
with a culture based on “insider systems” where the number of
listed firms is less, the
ownership structure is more concentrated and the corporate
control market is less active.
Thus, firms with capital market-oriented financial systems
11. would manage those activities
that entail a radical innovation better and whose management is
carried out in the short
term, whilst those activities, such as international
diversification, which require long-term
incremental investment, and that represent a high degree of
supervision, would be better
managed by firms originating from bank-oriented financial
systems. The latter would
be in a better position to obtain private benefits of control due
to the greater ownership
International Journal of Management Vol. 29 No. 4 Dec
2012 535
concentration, and to maintaining closer relationships with the
financing supplier, which
would favour the fight for improving performance in foreign
markets.
With respect to the causal relationship between ownership
concentration and firm
performance, this is theoretically and empirically ambiguous.
Studies such as those
conducted by Pedersen & Thomsen (2003), Loderer & Martin
(1997), Cho (1998),
Himmelberg et al.(1999), Demsetz & Villalonga (2001), which
apply simultaneous
equations (contrasting with the studies that use ordinary least
squares) do not reflect a
significant relationship between ownership structure and firm
performance. However,
there is a certain consensus about the possible positive
relationship between ownership
12. concentration by insiders and firm performance.
The logical consequence of these arguments is that firms
originating from countries with
a civil law culture, due to the closer relationships between
borrowers and lenders, and
with a bank-oriented financial system, would have a greater
volume of funds to cope with
the underperformance difficulties during the first stages of the
firm’s internationalisation
process. Likewise, the greater ownership concentration in hands
of the insiders would
favour a positive impact on the firm’s performance.
In agreement with the premises set out above, the firms with
culture based on the civil
law system would recover in a shorter period of time from the
difficulties caused by the
first stages of international diversification and their
performance would have a shorter
reduction cycle.
Consequently, and based on this reasoning, we can put forward
the following hypothesis:
H2: A non-linear (U-shaped) relationship between ID and
performance could be expected
in a longer time period in those firms whose culture is
structured around common
law systems than in those firms with a culture based on civil
law).
Data and Methodology
Data
Our database consists of 8,959 observations from 1,721 firms
from 12 countries between
13. 2000 and 2009. According to La Porta et al. (1997 and 1998),
we divide the countries into
two main groups: those belonging to civil law systems and those
belonging to common
law systems. We also divide the sample into industrial firms and
service firms according
to the two-digit SIC code classification: industrial firms for SIC
codes between 01 and
39 and service firms for SIC codes between 40 and 87. In
Tables 1 and 2 we provide
further information about the structure of the sample and some
descriptive statistics:
Variables
Our dependent variable is the firm’s performance (ROA)
defined as the ratio between
the EBITDA (Earnings before interests, taxes, depreciation and
amortization) and total
assets. We define four explanatory variables: ID is the degree of
internationalisation and
is calculated as the ratio between exports and total turnover;
LEV is financial leverage
defined as total debt to equity; SIZE is the log of total assets;
and INTANG aims to
536 International Journal of Management Vol. 29 No. 4 Dec
2012
measure the asset intangibility and is defined as the proportion
of intangible assets over
total assets.
Methodology
We estimate the coefficients using a panel data method that
14. combines observations from
a number of firms over a 10-year period. The panel data
methodology allows the control
of the so-called unobservable constant heterogeneity –e.g. the
specific characteristics of
each firm that remain constant throughout time-.
Our model can be expressed with the following equation, where
i refers to the firm, t
the year, e
it
is the random error and η
i
is the fixed-effects term:
ROA
it
= α
i
+ β
1
ID
it
+ β
2
ID2
it
+ β
15. 3
ID3
it
+ β
4
LEV
it
+ β
5
SIZE
it
+ β
6
INTANG
it
+ e
it
+ η
i
The thus-specified model was tested for the full sample and for
each one of the two
sub-samples into which we had divided the initial sample:
common law firms, civil
law firms, industrial firms and service firms (Table 3). In all the
estimates we report the
adjusted-R2 coefficient and the Hausman test. This test shows
16. the importance of the fixed
effect component –closely correlated with the remaining
explanatory variables–, so that
the within groups, the estimation method becomes necessary in
order to deal with the
constant unobservable heterogeneity.
Results
As expressed in column 1 of Table 3, there seems to be a
negative linear relationship
between the firm’s performance and its degree of international
diversification. This
result poses the question of why firms undertake
internationalisation processes when
these processes translate into a loss of performance. One of the
possible answers to that
Table 1: Distribution of the sample
Observations Firms Observations Firms
France 1390 267
Belgium 244 47 Common law system 3,716 714
Germany 1488 286 Civil law system 5,243 1007
Denmark 314 60
Spain 254 49
Finland 205 39 Industrial firms 4,445 854
UK 2619 503 Service firms 4,514 867
Ireland 119 23
Italy 568 109
Holland 270 52
Poland 654 126
Sweden 834 160
TOTAL 8,959 1,721
17. International Journal of Management Vol. 29 No. 4 Dec
2012 537
question consists in clarifying the firms’ performance according
to the type of activity
or the institutional-legal framework they operate in.
Thus, when the model is estimated in a different way for
industrial firms and for service
firms, the results change considerably.
Thus, in the case of industrial firms, we detect an S-shaped
relationship, with a first
decreasing section, a middle section when the performance
increases as does the
international diversification, and a final section when the
relationship becomes negative
again. On the contrary, in the case of service firms, there is a
quadratic relationship, with
a first negative relationship section that combines both
variables and a second positive
relationship section.
When the estimation is made in agreement with the legal
system, a different pattern is also
observed. Whilst, in both environments, the coefficients of ID,
ID2 and ID3 are always
significant, the relationship profile is different. In the civil law
environment, an S-shaped
relationship is observed, with an alternation of negative,
positive and negative signs for
different sections of the international diversification
coefficient. On the other hand, in the
common law environment, the relationship is U-shaped, so
initially there is a negative
effect of the ID on the firm’s performance, an effect which
19. 538 International Journal of Management Vol. 29 No. 4 Dec
2012
If we now make the estimations, combining both criteria, we
obtain the results obtained
in Table 4. The first column shows that in industrial firms from
civil law countries, there
is a cubic S-shaped relationship, with three sections: a negative
slope, a positive slope,
and finally a third section with negative slope. However,
industrial firms in common
law countries show a U-shaped quadratic relationship, with an
initially negative sign
that becomes positive for sufficiently high internationalisation
levels. Insofar as service
firms are concerned, whilst in civil law countries their
performance does not depend
on the degree of international diversification, in common law
countries we detect an
inverted S-shaped cubic relationship, with an initially positive,
then negative and finally
positive sign.
Table 4: Additional estimates
Industrial Services
Civil Law Common Law Civil Common
ID -0.7026*** -0.6443*** -0.0202 0.1634*
0.0915 0.1263 0.0812 0.1079
20. ID2 0.9826*** 0.5288* -0.0960 -0.9342***
0.2309 0.3099 0.2008 0.2415
ID3 -0.6417*** -0.0614 -0.0668 0.5858***
0.1646 0.2206 0.1426 0.1575
LEV -0.0003*** -0.0007** -0.0005** 0.0002
0.0001 0.0003 0.0002 0.0001
SIZE 0.0013 -0.0053 -0.0011 0.0125***
0.0030 0.0040 0.0032 0.0034
INTANG -0.0781*** -0.0451** 0.0406** -0.0225
0.0182 0.0199 0.0206 0.0163
# obs 2880 1565 2363 2151
Adj-R2 0.1506 0.2352 0.0741 0.1813
F test 68.17*** 65.34*** 24.97*** 62.45***
Hausman test 69.16*** 40.00*** 72.27*** 93.74***
International Journal of Management Vol. 29 No. 4 Dec
2012 539
Conclusions
The results obtained confirm the hypotheses put forward and
21. show how the relationship
between ID and performance differs, according to which
economic activity sector they
belong to and depending on whether their culture is associated
with civil law or common
law based legal systems.
Our empirical results can be summarised as follows. We find
evidence that industrial firms
have greater difficulties than service firms in reaching a
positive relationship between ID
and performance, due to the higher costs of adapting to the local
needs and to the higher
government costs they incur, either due to their nature
(production-consumption) or to
the greater investment required by their international
diversification.
In the business culture context, the performance is different
depending on whether the
firm belongs to bank oriented financial systems or to capital
market oriented financial
systems. Those firms with a culture based on civil law systems
(bank oriented financial
system) will have greater flexibility to counteract the negative
relationship between ID
and performance in a shorter period of time during the first
international diversification
phases, than those firms with culture based on common law
systems (capital market
oriented financial system), due to the fact that the more distant
borrower-lender
relationships of the latter could represent a reduced contribution
of funds to improve
the firm’s performance more quickly.
22. Finally, we must point out the lack of significance in the
relationship between ID and
performance of service firms, both belonging to civil and to
common law systems.
In short, the profile of the relationship between ID and
performance varies significantly
if the firms belong to different economic activity sectors and
also depending on whether
the business culture is based on civil or on common law
systems.
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Contact email address: [email protected]
Reproduced with permission of the copyright owner. Further
reproduction prohibited without permission.
www.ccsenet.org/ijbm International Journal of Business
and Management Vol. 7, No. 9; May 2012
ISSN 1833-3850 E-
ISSN 1833-8119 20
The Effects of International Accounting Standardization on
Business
29. Performance: Evidence from Hungary
Gyorgy Csebfalvi1
1 Department of Business Information System, University of
Pecs, Pecs, Hungary
Correspondence: Gyorgy Csebfalvi, Department of Business
Information System, Faculty of Business and
Economics, University of Pecs, PO box 80, Street of Rakoczi,
City of Pecs H-7622, Hungary. Tel:
336-36-72-501-599. E-mail: [email protected]
Received: January 18, 2012 Accepted: March 6, 2012
Published: May 1, 2012
doi:10.5539/ijbm.v7n9p20 URL:
http://dx.doi.org/10.5539/ijbm.v7n9p20
Abstract
The purpose of this study was to measure the differences
between national rules and the international standards,
evaluating and analyzing their effects on the shifting business
environment. The unified business information
system will lead to new types of analysis and data, furthermore
with the possible integration of new indicators
from the business environment of certain countries. The results
show that those businesses which have adopted
international standards achieved higher and statistically
significant positive coefficients than those following
local accounting rules. Companies which had adopted
accounting standards also provided higher quality and
value relevant accounting information systems. As a further
consequence of international accounting standards
30. adoption, corporate policy and requirements became gradually
more clear and transparent – in the same way as
the application and implementation of the standards became
more user-friendly.
Keywords: accounting standards, unified business information
system, shifting environment, economic effects,
value based management, Hungary
1. Introduction
The present paper is organized as follows. After the background
information this section shows the content,
scope and importance of this research. The next section reviews
the related international literature. Section 3
describes the research methodology and the results. Finally,
concluding remarks and discussion are presented in
Section 4.
Nowadays, especially during the current global financial crisis,
companies in Hungary are striving desperately to
remain competitive and achieve sustainable levels of economic
development. The highly competitive
environment requires companies to create a clear business
strategy, and accounting has to be part of this strategy
since it helps individual enterprises to achieve their strategic
objectives. International accounting standards are
new global methods to develop unified business information
systems and they are able to harmonize financial
regimes both world-wide and in Hungary also. The increased
globalization of markets, the complexity of
commercial trading and the concentration of business in global
competition have led to a still greater need for
international harmonization.
With increasing globalization of the marketplace, international
investors need access to financial information
31. based on harmonized accounting standards and procedures.
Investors constantly face economic choices that
require a comparison of financial information. Without
harmonization in the underlying methodology of
financial reports, real economic differences cannot be separated
from alternative accounting standards and
procedures. Harmonization is used as a reconciliation of
different points of view, which is more practical than
uniformity, which may impose one country’s accounting point
of view on all others. Organizations, private or
public, need information to coordinate its various investments
in different sectors of the economy. With the
growth of international business transactions by private and
public entities, the need to coordinate different
investment decisions has increased.
Since in case such multinational companies like Daimler
Chrysler owning more than 900 subsidiaries, operating
on 5 continents in more than 60 countries, the published
financial results according to international standards is
1.5 times of the one according to German accounting standards.
If earning after taxation (EAT) – deducted actual
www.ccsenet.org/ijbm International Journal of Business
and Management Vol. 7, No. 9; May 2012
Published by Canadian Center of Science and Education 21
tax burdens - according to US GAAP is taken as 100 percent,
due to differences between national accounting
standards, EAT would be 25% more in UK, 3% less in France,
23% less in Germany and 34% less in Japan
(Barth et al., 2007).
32. 2. Previous Related International Literature Review
International accounting literature provides evidence that
accounting quality has economic consequences, such as
costs of capital (Leuz and Verrecchia, 2000), efficiency of
capital allocation (Bushman and Piotroski, 2006) and
international capital mobility (Guenther and Young, 2008). The
International Accounting Standards Board (IASB)
has planned to develop a unified and understandable global
accounting convergence (Easton, 2006), and the
IASB’s plan has resulted in more than 100 countries world-wide
now requiring, permitting or adopting
International Financial Reporting Standards (IFRS) (Epstein,
2009). This growing acceptance of IFRS has also
influenced emerging economies (Ball et al., 2003). Beke (2010a,
p.23) asserted that “the purpose of the use of
international accounting information systems is that similar
transactions are treated the same by companies
around the world, resulting in globally comparable financial
statements”. These findings have led many authors
to conclude that global comparability will be driven by factors
other than the accounting standards. In particular,
most authors point to either regulatory oversight or capital
market pressures (Burgstahler et al., 2006).
Researchers have suggested that the best approach to assessing
the applicability of IFRS is to evaluate the
convergence process in emerging markets (Jones and Higgins,
2006, Cordazzo, 2008). However, the process of
adoption has been the subject of limited research, since
researchers themselves have suggested that it would be
better to use national case studies to analyze the adoption of
IFRS in individual nations. Examples of this are
Callao-Jarne-Lainez (2007) in Spain, Cormier-Demaria-
Lapointe-Teller (2009) in France, Lantto and Sahlström
(2009) in Finland, Iatridis and Rouvolis (2010) in Greece, Peng
33. and Smith (2010) in China and Beke (2010b) in
Hungary also.
The research undertaken in the form of national case studies
will develop guide-lines on best practice in the
implementation of IFRS in order to assist developing countries
and countries with economies in transition to
succeed in their efforts to harmonize their national accounting
rules and practice with international requirements
Earlier literature shows that the level of the capital market
orientation of the financial environment also follows
the differences in accounting systems internationally. Examples
of this are found when the Common Law
accounting systems of the USA and the UK are compared with
Code Law-based systems of many Continental
European countries (see, for example, La Porta, 1998).
Earlier studies show that, in Code Law countries (e.g., in
Europe) the capital provided by banks tends to be more
important than in Common Law countries (e.g., the USA and
Canada) where firms are mainly financed by a
large number of private investors (Zeff, 2007). Therefore,
information asymmetry between capital providers and
the company is likely to be resolved in Code Law countries by
providing accounting information to the capital
providers by means of high-quality, public financial reporting
(e.g. Beke, 2011a).
Previous studies also show that the adoption of IFRS improves
the accounting quality of publicly traded
companies in Europe (Daske and Gebhardt, 2006). Overall, the
adoption of IFRS seems to benefit investors,
especially in countries which resemble Code Law clusters and
where the information needs of investors were not
the primary interest of standards setters.
34. Additionally, many papers examine the properties of business
information across different accounting regimes.
Overall, these studies indicate that similar accounting methods
are applied very differently around the world.
However, Beke (2011b, p.176) remarked that “the unified
business information system will probably lead to new
types of analysis and data – with the possible additional
integration of new indicators from the practice of certain
countries”. Accounting standard-setters and regulators around
the globe are planning to harmonize accounting
standards with the goal of creating one set of high-quality rules
to be applied world-wide (Whittington, 2008).
3. Methodology
The purpose of this study was to measure the differences
between national rules and the international methods,
evaluating and analyzing their effects on the business
environment. This survey also includes information on
how international accounting standards have been affected by
the global economic crisis. To examine decisions
made by companies to adopt IFRS, we created a sample
comprising Budapest Stock Exchange (BSE) enterprises
who adopted IFRS in Hungary in 2007. For the purpose of
research, the pre-adoption period was 2004-2006 and
the post-adoption 2008-2010. The final sample consists of 65
companies who adopted IFRSs and 260 Hungarian
firms using local accounting rules. The specific samples are of
conventional shareholder companies with
Hungarian headquarters who employ an average of more than 50
people.
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The financial data are taken from accounts published on the
Budapest Stock Exchange and in the Hungarian
Business Information database. In our sample, the firms are
classified as either ‘following international
standards’ or as ‘using national accounting rules”. The
manufacturing firms have the largest representation in our
sample. The study excluded banks, insurances, pensions and
brokerages since their accounting measures are not
always comparable with industrial sectors. Parameters in the
logistic regression models were estimated with
maximum likelihood method and the correlations between
variables with autocorrelation and multicollinarity.
Basically, we used a qualitative comparative approach, but to
identify the results of our research, we elaborated
three hypotheses:
H1: Balance Sheet indices deteriorated - especially in respect of
solvency and prosperity after adopting IFRS.
H2: Heavy losses tend not to be infrequent after IFRS adoption
decisions.
H3: Business management has higher value relevance after the
post-adoption period.
3.1 Accounting Methods and Balance Sheet Effects
This set of analyses measures how Hungarian enterprises have
been affected in terms of business performance by
IFRS and how they have adjusted over time (see also Beke,
36. 2011c) The logistic regression models employed are
(1,2):
RRi,t= a0 + a1 Sizei,t + a2 Dividendi,t + a3 Growthi,t + a4
Profitability i,t +
+ a5 Liquidity i,t + a6 Leverage i,t + ei,t
(1)
PAi,t = a0 + a1 Sizei,t + a2 Dividendi,t + a3 Growthi,t + a4
Profitability i,t +
+ a5 Liquidity i,t + a6 Leverage i,t + ei,t
(2)
Where:
RRi,t = dummy variable, indicating the regulatory system,
- RRi,t = 1, financial numbers are reported by IFRS,
- RRi,t = 0, financial numbers are reported by National
GAAP,
PAi,t = dummy variable, indicating the post-adoption effects.
- PAi,t = 1, financial numbers are reported by IFRS in 2008
- PAi,t = 0, financial numbers are reported by IFRS in 2006.
Size: Natural logarithm of market capitalization:
- NAVSH: Net asset value per share
- RESSFU: Reserves to shareholders’ funds
Dividend: - DIVCOV: Dividend cover
- DIVSH: Dividend per share
37. - DIVYI: Dividend yield.
Growth: - MVBV: Market value to book value
Profitability: - EPS: Earnings per share
- NPM: Net profit margin
- ROCE: Return on capital employed
Liquidity: - CFM: Cash flow margin
- CUR: Current ratio
- OCF: Operating cash flow scaled by total assets
- QUI: Quick ratio
- WCR: Working capital ratio
Leverage : - DEBTE: Debt to equity
- DSFU: Debt to shareholders’ funds
- CGEAR: Capital gearing
ei,t = the error term.
The results of hypotheses H1 are reported in Table 1.
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40. 1,5061
0,6401
16,8041
3,1125
1,5974
2,1577
0,3115
0,8540
(Source: Author’s own constructions)
It can be seen in Table 1 that the average index of dividend per
share (from earnings after tax) is higher at
companies which had already adopted IFRS than in others.
However, the relative average value (DIVYI)
contains a high deviation (the deviation value is almost 30 in
respect of companies using IFRS).
The companies applying the National Accounting Rules earn
more than double (5,8152) in terms of growth
(measured by market value to historical value of assets) than do
other firms. In this sense the IFRS-adopting
companies’ average index is much lower.
The companies examined had a negative average net profit
value (loss) in both groups in the period covered,
although the return on equity and the average return on capital
employed gave better results for National
Accounting Rules users. The latter index showed a declining
tendency (-0,0081) at companies which adopted the
IFRS.
The National Accounting Rules-using companies’ average
indices measuring solvency (OCF, CUR, CFM) and
leverage were higher than the others. Cash Flow, for instance,
41. decreased (-0,0408) at IFRS-adopting companies,
although around the relative average value of Operating Cash
Flow on assets the deviation is quite high (between
15 and 17). As the indebtedness of companies using National
Regulations was lower, the leverage indices
(DEBTE, CGEAR, DSFU) were better than in those companies
which had adopted IFRS.
To summarize, we can state that Balance Sheet indices
deteriorated especially regarding solvency and prosperity
after the adoption of IFRS.
3.2 Accounting Methods and P&L Effects
This part of our research examined whether firms determine
small positive profits rather than large losses. (see
Beke, 2011d) .Our analysis employed the next model (3):
RRi,t = a0 + a1Profitabilityi,t + a2Dividendi,t +
a3Growth i,t + a4 Sizei,t+
+ a5Liquidityi,t + a6Leveragei,t + a7SPi,t +
a8LLi,t + ei,t (3)
Where:
SPi,t = dummy variable indicating a measure of small positive
profits.
SPi,t = 1 if net profit scaled by total assets is
between 0 and 0.01,
SPi,t = 0 otherwise.
LLi, = dummy variable indicating a measure of timely loss
recognition.
42. LLi,t = 1 if net profit scaled by total assets is less
than - 0.20,
LLi,t = 0 otherwise.
The results of model (3) are reported in Table 2.
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ISSN 1833-8119 24
Table 2. Small profit or large losses
Denomination IFRS adopted firms Domestic GAAP- using firms
SP -1,194** 0,451
LL 2,581* 1,324
Sourse: Author’s own constructions
* at 10% level significance, **at 5% level significance..
The data in the Table 2 prove that the companies which had
already adopted IFRS were less willing to hide profit
in the P&L. Account when it was low, and by doing so, the
probability of reporting a small profit (SP) was
significantly negative (-1,194) in their case.
Further, we can state that neither did they did tend to hide a
43. large loss. The latter statement is a consequence of
the positive and high value of the coefficient of LL (2,581). It is
specific for National Accounting Rules-using
companies to favor reporting smaller profits (0,451) and avoid
large losses being reported in P&L Account -
which is possible when using accrual-based accounting.
3.3 Accounting Methods and Value Relevance
Prior researches indicates that the standardization based
accounting systems tend to realize higher quality and
value relevance (e.g. Hung and Subramanyam, 2007; Tarca,
2004; Tandeloo and Vanstraelen, 2005). We were
wondered if is it the same case in Hungary and we tested it with
following hypothesis:
3.3.1 The first value relevance test is an OLS regression of
share price on book value per share and net profit per
share (4)
Pi,t = a0 + a1 BVPSi,t + a2 NPPSi,t + ei,t
(4)
Where:
Pi,t = Total market value of equity deflated by number of
shares outstanding,
BVPSi,t = Total book value of equity deflated by number of
shares outstanding,
NPPSi,t = Total net profit deflated by number of shares
outstanding.
3.3.2 The second value relevance test is an OLS regression of
profits on stock returns (5)
44. NPPi,t = a0 + a1 ARi,t + ei,t
(5)
Where:
NPPi,t = Net profit divided by beginning of year share price,
ARi,t = Annual stock return at year-end.
3.3.3 The third value relevance test measured the association
between IFRS-based book value and net profit
figures, then stock returns (6)
ARi,t = a0 + a1BVPSi,t + a2BVCHAi,t + a3NPPSi,t +
a4NPCHAi,t + ei,t (6)
Where:
BVCHAi,t = Variable indicating the change in corporate book
value following the transition to IFRS,
NPCHAi,t = Variable indicating the change in corporate net
profits following the transition to IFRS.
The results of value relevance models are summarized in Table
3.
Table 3. Accounting methods and value relevance
Denomination Coefficients
Domestiv GAAP-using firms IFRS adopted firms
NPPS 2,041** 3,025**
BVPS 0,547** 1,354**
AR 2841,145** 3694,124*
BVCHA 0,1941** 0,2941*
45. NPCHA 0,0182** 1,3541
R² 0,689 0,799
*Statistical significance at 10% level, **Statistical
significance at 1% level.
(Source: Author’s own construction)
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Our H3 assumption, namely that the information system of
companies who adapted IFRS shows a higher value
relevance than other national accounting rules-user companies,
is proved by the data of Table 3.
The first test of value relevance gave a result for earnings after
tax/share (EPS) coefficient (3,025) and for book
value of equity/share (1,354) which is significantly (at 1 %)
positive and higher at IFRS-adopting companies
than at others. These companies also had more profitable,
higher correlation coefficients of financial indices (R2
= 0,799).
The second test of value relevance gave similar results since the
coefficient of Return on Equity (ROE) is also
significantly (at 10 %) positive and higher (3694,124) at
companies which have already adopted IFRS.
The coefficient of Book Value Change (1,3541) produced turned
out significantly more positive at
46. IFRS-adopting companies according to the third test of value
relevance. These results obviously prove that the
companies which adopted IFRS have an orientation towards a
reporting policy based on greater reliability and
more realistic evaluation. However, the index presenting the
change of Net Profit (NPCHA) was also positive
(but not significantly) at these companies (1,3541).
4. Conclusion
In today’s business environment, companies need to take every
opportunity they can to remain competitive.
Global competition, rapid innovation, entrepreneurial
competitors, and increasingly demanding customers have
altered the nature of competition in the marketplace. This new
competitive environment requires companies to be
able to create value for their customers and to differentiate
themselves from their competitors through the
formulation of a clear business strategy. Business strategy must
be supported by appropriate organizational
factors such as an efficient manufacturing process,
organizational design and harmonized accounting information
systems also.
We noted that the Balance Sheet indices deteriorated, especially
regarding solvency and prosperity after adoption
of IFRS. The results show that those businesses which have
adopted international standards achieved higher and
statistically significant positive coefficients than did those
following local accounting rules. We found that larger
firms, those with more leverage, higher market capitalization
and substantial foreign sales, were more likely to
have adopted international accounting standards. Among these
firms, lower profits are declared less frequently -
possibly indicative of the quality of earnings management.
Companies which had adopted IFRS also provided
47. higher quality and value relevant accounting information
systems. As a further consequence of IFRS adoption,
corporate policy and requirements became gradually more clear
and transparent – in the same way as the
application and implementation of the standards became more
user-friendly.
After the measuring these economic effects of accounting
standardization on business management and
achieving some results the author decided that we have to
continue this analyzing process using interdisciplinary
methods also, because it can be reach the whole real picture of
globalized unified business information systems.
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Read Chapters 10-12
Instructions
Research the methods for managing foreign exchange risk and
write a paper that addresses the following:
1. Analyze the types of risks that must be managed for a
multinational corporation. Your discussion should include both
transaction and operating exposure.
2. Ascertain the use of forward contracts, currency futures,
currency options, and currency swaps for managing foreign
exchange risk exposure.
3. Compare options, forwards, futures, and swaps for managing
foreign exchange risk exposure. Form an argument for what you
believe is the best method for a non-financial firm in managing
this exchange rate risk.
Support your paper with at least five (5) resources. In addition
to these specified resources, other appropriate scholarly
53. resources, including older articles, may be included. Your paper
should demonstrate thoughtful consideration of the ideas and
concepts that are presented in the course and provide new
thoughts and insights relating directly to this topic. Your
response should reflect scholarly writing and current APA
standards. Length: 5-7 pages (not including title and reference
pages).