ERP (Enterprise Resource Planning), Supply chain management, lean production and process Analysis, Business process mapping, Operation Research, Decision of Operation management and operating strategy.
SWOT or the acronym for Strength, Weakness, Opportunity and Threats is done for the analysis of the external environment of a business. The business strength has to tackle with the available opportunities and to overcome the persisting threats in the market. For brands like Pepsodent, the analysis would include pre-view of the competitors like Colgate and many more and looking into what strategy do the competitors follow in making there brand stand out. In relation to this the strategy defining is done through the TOWS matrix.
The TNC's are mainly responsible for this and also technological advances
In its simplest terms, globalization is a very advanced form of free trade. Formerly independent national economies are becoming more and more interdependent and integrated. Take the European Union, for example, in which a very varied group of countries integrated their economies, even so far as to implementing a common currency, the Euro.
The thing about globalization and free trade is that they are based on the free market economic system. In free market economies, the market is thought to be self-regulating through the law of supply and demand. The free market system is extremely efficient as it forces producers to be more competitive and innovative, while allowing consumers to enjoy a wider variety of goods at relatively low prices.
The problem is that, despite its efficiency, the free market system (and thus, globalization as a whole) is highly inequitable. In other words, globalization generates more production and wealth, but these benefits are not distributed equally among the world population.
So, how can we make globalization more equitable? Well, there are efforts being made from NGOs (non-governmental organizations) who often advocate for humanitarian efforts and environmental standards. There are also international treaties and accords that aim to promote more equitable policies. Also, there are new products being sold on the market (like Fair Trade goods) that support worldwide equity.
Some might argue, however, that making globalization fairer is not a matter of trying to adjust the free market system, but rather, to overthrow it all together. If you get rid of the free-market system, you can replace it with a new system of production and distribution of goods that promotes equality rather than inequality. One example of such a solution is Fresco's Venus Project.
In all, making globalization fairer can be done from within the system (through small actions) or from the outside (through major revolution). Which option is better? Depends on who you ask. The bottom line is that globalization IS unfair, but there is hope - and there is always something we can do about it.
The market itself
A company with no particular nationality or place of establishment, and/or headquarters, and most of these companies are transnational, spanning through different areas of the world.
I think it was the year 2006 when 'google' became a verb in Oxford Dictionary.
As the never-ending trek of human expansion and production grows, human relations, both mutual and hostile grows as well. From the first business to be spoken of, when Arabic, European, and Asian traders bartered manufactured goods and imported goods, bringing business into the global view. When the Americas became an equal to the eastern world, business between the nations also grew. Today, the multibillion transnational corporations build towers across the world to spread business, but in my eyes, well, I see them as shining monuments to human ingenuity and prosperity.
Recommend, check the credentials by clicking my name, and keep the questions coming.
6.7 Billion people
No single person or nation 'invented' globalization. It just grew slowly as transport and communications became easier. Let's face it, the world was 'globalized' in many ways well over a century ago.
globalisation was invented first and introduced to the world after the first world war. it is represented in the 14 points of wilson. globalisation is to be the leader of the globe and now america is the leader by being in charge of it. wilson wanted to make a homogeneous world by making institutions for each field for example the organisation of the united nations to avoid any war. and for this to succeed there must be a leader which is now AMERICA. the leader is the one who proposed this system.
Six reasons why information systems are so important for business today include:
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
Here is onother answer to this questionThe emegence of a global economy, transformation of industrial economies, transformation of the business enterprise, and the emergence of digital firm make information systems essential in business today. Information system is a fondation for conducting business today. In many businesses, survival and the ability to achieve strategic business goals is difficult without extensive use of information technology. There are six reasons or objectives why businesses use information system:
1. Operational excellence. Business improve the efficiency of their operations in order to achieve higher profitability. Information systems are important tools available to managers for achieving higher levels of efficiency and productivity in business operations. A good example is Wal-Mart that uses a RetailLink system , which digitally links its suppliers to every one of Wal-Mart's stores. as soon as a a customer purchase an item , the supplier is monitoring the item , knows to ship a replacement to the shelf.
2. New products, services, and business models.Information system is a major tool for firms to create new products and services, and also an entirely new business models. A business model describe how a company produces, delivers, and sells a product or service to create wealth.
Example: Apple inc transformed an old business model based on its iPod technology platform that included iPod, the iTunes music service, and the iPhone.
3. Customer/supplier intimacy. When a business serves its customers well, the customers generally respond by returning and purchasing more. this raises revenue and profits. The more a business engage its suppliers, the better the suppliers can provide vital inputs. This lower costs. Example: The Mandarin Oriental in Manhattan and other high-end hotels exemplify the use of information systems and technology to achieve customer intimacy. they use computers to keep track of guests' preferences, such as their preffered room temperature, check-in time, television programs.
4. Improved decision making. Many managers operate in an information bank, never having the right information at the right time to make an informed decision. These poor outcomes raise costs and lose customers. Information system made it possible for the managers to use real time data from the marketplace when making decision. Example: Verizon Corporation uses a Web-based digital dashboard to provide managers with precise real -time information on customer complains, network performance.. Using this information managers can immediately allocate repair resources to affected areas, inform customers of repair efforts and restore service fast.
5. Competitive advantage. When firms achieve one or more of these business objectives( operational excellence, new products, services, and business models, customer/supplier intimacy, and improved decision making) chances are they have already achieved a competitive advantage. Doing things better than your competitors, charging less for superior products, and responding to customers and suppliers in real time all add up to higher sales, and higher profits. Example: Toyota Production System focuses on organizing work to eliminate waste, making continues improvements, TPS is based on what customers have actually ordered.
6. Day to day survival. Business firms invest in information system and technology because they are necessities of doing business. This necessities are driven by industry level changes. Example: Citibank introduced the first automatic teller machine to attract customers through higher service levels, and its competitors rushed to provide ATM's to their customers to keep up with Citibank. providing ATMs services to retail banking customers is simply a requirement of being in and surviving in the retail banking business. Firm turn to information system and technology to provide the capability to respond to these.
Information systems are the foundation for conducting business today. In many industries, survival and even existence without extensive use of IT is inconceivable, and IT plays a critical role in increasing productivity. Although information technology has become more of a commodity, when coupled with complementary changes in organization and management, it can provide the foundation for new products, services, and ways of conducting business that provide firms with a strategic advantage.
Through technology and in trade!
Some challenges could be:
There was no year it happened gradually.
The advantages of a market economy can be summarized as:
-Buyers are free to buy any commodity which they like and in whatever amounts. The producer can also produce whichever product they want to and also increase the capacity of any individual commodity depending upon the forces of the market. Producers are free to undertake the risks and rewards associated with increase in production. There is no state intervention in the functioning of the forces of the market. -The biggest advantage that a market-oriented economy enjoys is the determination of a unique price determined by the demand and supply in absence of any monopolistic or oligopolistic influences. The decision of what to produce, for whom to produce and in what quantities is taken by the market forces and not determined by the state. -The role of the state is limited to ensuring proper transparency in the prices charged by the sellers of the concerned commodity. Prices also have the function to allocate and distribute a country's resources. -In a "perfect world", free market leads to complete efficiency bringing about the optimal distribution of a country's resources. This would only happen in a state of equilibrium or when demand equals supply and there is a unique price for every commodity in question. But in a practical world which is imperfect by nature, prices are never at equilibrium and very volatile depending upon the vagaries of the market forces. This generally harms people living below the poverty line or those in the low income group. It is impossible for them to pay high prices in cases of demand shortage and thus the free market model is not a viable option in developing countries which has a large number of poor.
-Free market and liberalization with increased competition has increased unemployment levels and poverty in India and China with the growing divide between the rich and the poor. Growing at an average of 10% per year since 1978, increased levels of efficiency and prosperity have not percolated to the grassroots level. Developed economies such as the USA and Canada are also facing limited problems of poverty and unemployment as a result of total free market economy.
-Free market economies, although have been successful in developed economies, will not be so in developing countries and the only recourse for them is the model of the mixed economy or social market economy. The welfare role of the state is retained in a social market economy which cares for the poor. In cases where the poor countries are striving towards a free market economy, there should be certain segments controlled by the state but with prevalence of free enterprise such that efficiency is restored and the country moves towards economic prosperity. Free market economy under centralized political control is the most effective way for these countries
One advantage of the market economy is that the market provides incentives which help the people acquire very useful skills.
Wikimedia Free Encyclopedia explains: A market economy(also called a free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services take place through the mechanism of free markets guided by a free price system. In a market economy, businesses and consumers decide of their own volition what they will purchase and produce. Technically this means that the producer gets to decide what to produce, how much to produce, what to charge to customers for those goods, what to pay employees, etc., and not the government. These decisions in a free-market economy are influenced by the pressures of competition, supply, and demand. This is often contrasted with a planned economy, in which a central government decides what will be produced and in what quantities.
No pure market economy exists. Thus, almost all economies in the world today are mixed economies which combine varying degrees of market and command economy traits. For example, in the United States there are more market economy traits than in Western European countries.
The advantages of a free market economy are for example - supply and demand
A free market economy allows competition. Without competition, prices would be a lot higher. This is due to the fact that companies compete for more customers. A way to gain more customers is lower prices. This is the advantage over having a free market economy rather than a command economy (think communist). In a command economy, there is no one to compete against so you can charge as much as you want for your products. In a free market economy, you can only survive if you lower your prices. This is because consumers have a choice of what company to buy from. This is another advantage of the free market economy.
There are many advantages to a free market economy. They range from the moral issues to the practical issues. We will deal mainly with the practical ones.
-Unprecedented innovation. Free markets are wrought with inventions and the capital to research them. Countries classified as having a free market have been responsible for the vast majority of inventions since the 19th century.
-Very high income mobility. This means that under a free market system it is easier to move around income brackets. This is not to say it is easy, it is just easier to become rich or poor when you're left to your own devices as opposed to a controlled economy where resources are allocated by the government.
-Massive increases in efficiency and productivity. This happens from the survival of the fittest aspect of free markets. Firms that have higher costs than others (by producing inefficiently) will go out of business as those that are more efficient prosper. Thus, firms are always looking for cheaper ways to do things (this drives costs and prices down, etc etc)
-A much higher GDP. Free market-leaning countries have higher GDPs than command market-leaning economies. This is because they produce more.
-Very productive tax system. Due to the huge wealth level, it is easy to collect taxes. For example, it is easier to get taxes from a very rich person than from a person who barely has enough money to eat. This large amount of tax revenue results in:
-More money spent on social programs. Free market nations generally spend more or have more efficient social programs. For example, the police and firefighting technologies in America and Europe far surpass those of China or many Arab states.
1 unprovision of merit goods like education,health,housing...
so the poor will be deprived of the merit goods. In this way the rich becomes richer and the poor becomes poorer.
2 Non provision of public goods(bus stop,garden,street lighting,army,police,fire services)
important requirements for public goods not provided since it is not profitable to produce as consumers are not directly willing to pay for them.
3 over consumption of demerit goods(drugs,cigarettes,alcohol)
if consumers have a preference for these goods, then they will be provided given that they are profitable to produce.
4 social cost ignored
private firm ignore negative externalities(air,water and noise pollution,road conditions.)
5wastage of resources
7 economic instability
In every category 1-7 above, countries which are furthest from a free market economy perform worse in those categories than those closer to free markets. A stark and apt comparison is North and South Korea which up until the 1950s had the exact same history, yet now are completely divergent where the South Koreans excel in every one of the above 7 categories compared to the North. It's very clear now empirically that individuals that live in countries that reject the free market are much worse off in every respect than those who live in freer societies with stronger capital markets.
A countries central banking system generally decides what amount of money a country can print. Contrary to popular belief, gold or precious metals are irrelevent and uncessary to give money a value. The only reason that gold (or other metals) have value is because people have accepted them as having value. Just as people may accept that an apple might have some sort of value or a banana might have some sort of value. Gold (and other metals) are a scarce resource and therefore had been accepted as a medium of echange long before paper money.
A medium of echange is necessary for two reasons.
1. People need to have a base from what to compare things to. That is, it is difficult to determine how many apples equal a banana or how many cars equal an airplane for example. We do however know that say an apple is worth $.50 and a banana is worth $.75.
2. People need a way to store their productive efforts so that they can be used in the future as necessary.
A country should generally wish that their paper money is still a scarce resource (that is the country's bank controls the amount printed and makes it difficult to copy). In this way money can be used to reimburse an individual for his production efforts and then he or she can use this money to pay someone else for producing something else they don't have but they need.
Generally speaking a reputable country will produce enough bills and coinage to 'meet demand' - naturally money is always 'in demand' so this means replacing bills damaged through use. In the case of the US it should be noted that most 'money' doesn't exist in the form of money, and as a matter of fact most currency is actually held outside the country by foreigners.
If too much money is printed or created holders may fear loss of value from dillution and start selling dollars to buy the currency of other countries. Like a stock the dollar will fall until foreign investors support it by buying American food, corporations, resources, and goods and services again.
The CIA World Factbook (https://www.cia.gov/library/publications/the-world-factbook/index.html) is an easy place to answer questions such as this.
In 2006, the Philippines had a GDP of 116.9 billion dollars at the official exchange rate, and 449.8 billion dollars at purchasing power parity. With a growth rate of 5.4%, this means in 2005, the GDP was approximately 426 billion at ppp, or 110.9 billion at the official exchange rate. That should give a good approximation to GNP, unless the labor from Philippino ex-pats is very large.
The movement from many local economies to one economy that is global
See related question below.
The president on North Korea in 1996 "wong hand ching chang chong sing hao jackie chan bruce lee" fought a massive creatuer which lead to great prosperity and protected the massive enemy; globalization.
According to the London School of Economics (Alnoor Bhimani): Over the past decade, management accounting has seen changes not just within existing domains of the field but has also witnessed extensions outside its established realms of activity. Wider systemic transformations including changes in political regimes, novel conceptions of management controls, the impact of globalizing forces on commercial affairs, shifts in notions of effective knowledge management, governance and ethics and technological advances, including the rise of broadband, have all impacted management accounting endeavors. The field is as fast changing as it has ever been. what are the effects
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