It is a fact that we live in a global world where country economies are closely intertwined. Total world trade is in the trillions, many of China's exports end up on Wal-Mart shelves, and a few months ago when the Japanese earthquake and tsunami struck the Asian country, supply chains were disrupted worldwide. Moreover, technology doesn't take a break and new innovations are presented to the market daily. Yet, the world is still in a financial crisis and the need for more world-class business leaders is growing. This in turn puts more pressure on universities to improve their business programs.
globalEDGE Blog - By Author: Viktoriya Ivanova
Japan's strong yen has increased companies' desire to grow internationally to the point where the nation is now ranked the third biggest cross border acquirer - a significant jump from being placed 10th last year. Japanese companies have taken advantage of the fact that many of their international competitors have been weakened by the European financial crisis and moved into the market with successful M&A transactions. Data shows that the value of mergers and acquisitions abroad by Japanese firms has more than doubled since last year.
Trade relationships between India and Pakistan will soon normalize as bilateral ties have been improved by Pakistan granting India the status of "most favored nation". This decision has been long awaited by Indian businesses since India granted the same status to Pakistan in 1996.
The way we shop changes rapidly from year to year. This is due to the various technological improvements that are introduced to the market so often. From laptops, to tablets, to smart phones, and reliable networks it is extremely convenient to switch from the traditional brick and mortar stores to online shopping which has increased tremendously in the past few years. Consumers in Canada, for example, spent $15B online last year alone. Social media provides just the right push to turn users in the direction of shopping at the click of a button. Customized advertisement on Facebook based on user preferences listed in their profiles and opinions expressed on Twitter open the door for users to explore different shopping websites and possibly find items that they would not be able to find in stores otherwise. Furthermore, the internet provides a wider variety of products and comparing prices is much easier because when online, a customer can be searching multiple websites simultaneously.
The past several years, the economy in Morocco has been characterized by macroeconomic stability and low inflation. However, the country has been faced with high unemployment and its task in recent years has been to accelerate growth in order to create more jobs.
Morocco's initiatives for developing entrepreneurship put stress on improving the literacy rate and encouraging women to enter the business field. In the past decade there have been numerous literacy programs, targeting mostly women, the largest one being "Massirat Nour". The government sees education as the tool to decrease poverty. The larger goal is to diversify the economy so that it is not as agriculture focused and make the country more attractive to foreign investors.
Due to the increase in meat consumption in China, the need for soybeans has widened. The main country where the Chinese have looked is Brazil and are interested in purchasing hundreds of thousands of acres. When they were refused the land, the new strategy was to feed money into the agriculture industry in Brazil to give farmers the capital needed to triple soybean production.
Some time ago, a female finance manager in the USA said to me "It doesn't matter who you are or how smart and hard-working you are, the business world you will get to know as a woman is different than the actual business world." These are definitely not the most encouraging words, but it is no secret that to this day it is still much more difficult for women to advance in the business world. For females, the competition takes a different shape. No matter the difficulties however, women in the Middle East have found a solution in enterprenureal finanace.
After spending a month in Europe, the country that caught my attention the most was Switzerland. It is a small country, but there is great diversity there. The city I visited was Geneva and I was amazed by the gorgeous nature as well the high prices. However, what surprised me the most was the fact that high end stores such as Louis Vuitton and Gucci were enjoying a decent amount of customers and getting dinner at a restaurant around 8pm was impossible without a reservation.
The European nations spent years trying to unify the countries in the continent and now after the financial crisis we can't be quite sure about how strong that unity is.
There have been many talks about the future of the European Union, but the option that the nations have settled on is not one that many expected. First, the EU will be split into two groups - 17 and 10. The big 17 will include all of the nations currently using the euro with France and Germany having the most significant say. The 17 have more power due to the use of the same currency and they will be the ones making the decisions. The reason for this move to a tighter central economic management is to prevent future defaults by members in debt.
During the past year the future of the euro-zone was quite uncertain with raising debt, countries not being able to pay it off, and with many Germans feeling it was not fair for everyone to look towards the strong nation for financial help. The severe weather worsened the situation by slowing down activity and resulting in a low 0.3% growth during last quarter of 2010.
Bad weather can have devastating effects on a business. In the last year we saw massive floods, earthquakes, and snowstorms. Such events caused disruptions in transportation and infrastructure, which in turn created obstructions for workers and the end result was that global businesses incurred large costs.
It is easy to see why many companies - especially in the logistics business, invest heavily in weather forecasting. Different types of weather technology help businesses manage risk imposed by natural disasters. The following BBC video provides examples of how technology is used to aid businesses:
Family or career? This has been a tough choice for many. The Dutch might have the answer. Daddy days and job-sharing as well as part-time employment have become quite typical in the Netherlands. Because of these irregular work hours, many companies do not even have assigned cubicles for their employees. Some examples are Microsoft and the Economics Ministry. Both have moved to what is known as "flex-buildings" which are smaller offices with less work stations than employees.
How do restaurants keep customers coming back and attracting new ones? All of us become critics when we try something new. From the outside look of the restaurant to the choice of napkins, every little detail factors into the way customers rate it. The atmosphere and decorations are some of the main essentials; however, the most important factor that makes a dining experience memorable is the skill of the chef.
A few decades ago Botswana relied solely on its agriculture and was one of the poorest nations in the world. However, ever since the discovery of diamonds in the late 20th century, Botswana has become a success story. Jwaneng, the richest diamond mine in the world when measured by value of recovered diamonds, has been the main source of the prosperity of the African country. Not only has the per capita income increased to close to $6000 a year, but the infrastructure has been improved as well. The country's citizens have seen new roads, hospitals, and schools as well as an improved system to deal with the H.I.V and AIDS problem the country has had.
What is the first thing that comes to mind when you think fashion? Glamorous shows? A plethora of famous names? How about an international business?
The fashion industry is hard to get into and just as hard to keep up with. Trends are constantly changing which creates the need for extensive research which in the fashion industry is known as fashion forecasting. It is the process of analyzing past buying patterns and using them to make projections about the future. This is what defines the new trend for the season. It is presented to critics and customers in what is the most significant event in the industry - fashion week.
Do you look at your groceries receipt when you walk out the store and notice that it is higher than what it was a couple of months ago? That is because food prices in August reached a two-year high according to a food price index developed by the Food and Agriculture Organization (FAO).
A Copenhagen hotel is trying to be more environmentally friendly in a very interesting way. If you bike in the hotel enough to generate 10 watts of electricity, you earn a free meal! The goal of this project is to increase environmental awareness in the city. Also, it promotes exercise by combining an aspect of Copenhagen's culture (biking) with the incentive of a delicious meal. A BBC video gives more details on the hotel's creative strategy.
The largest world fair in history will take place in Shanghai, China starting May 1 to October 31. Its theme is "Better City - Better Life". More than 190 countries will be present setting pavillions portraying their culture and technology.
The event is six months long and is expected to attract more than 70 million visitors. Therefore, it is an excellent networking opportunity. Nations that are already parters with China will be there in order to further firm the connection. Also, there is the chance to make new friends and establish new connections as a BBC video explains.
In the early 1990s India was a closed market and it has gone a long way since then to become an important player in the international trade scene. The country is one of the fastest growing economies in the world with a growth rate of 8-10%. This rate in combination with the large market in India makes it a desirable trade partner for many other countries. The European Union, for example, is looking to establish a Free Trade Agreement with India - negotiations started in 2007 and the agreement is expected to be finalized by the end of this year according to EU trade commissioner Karel De Gucht.
As the world is becoming more globalized, there has been a change towards internationalization in the food and beverage industry as well.
Traveling abroad for business is an essential part for many professionals. Also, since business men and women from different parts of the world work together on many occasions, it is only natural that they share and spread different cultures. This is very strongly pronounced in the way taste preferences around the globe have changed.
Two of Europe's airlines are about to merge in order to form one of the largest airlines in the world. The two comapnies, British Airways and Iberia, have been considering this merger for a long time now and it will not be final until the end of the year.
Due to the economic recession airline companies have been losing money and looking into different ways to cut costs. Is this merger of the two European airline compnaies a good business decision and will it be beneficial for the industry? A video from BBC answers these questions and points out some of the advantages and disadvantages of this merger.
The global recession caused many companies to delay any expansion goals and to stay away from risky proposals. Retailers, for example are still risk-averse, however their concerns about future growth is making start considering expansion again. Some U.S. companies are taking steps into international expansion into Canada.
Tourism is an area that many countries have been looking at in order to expand their economies and generate more revenues.
A country that recently has decided to expand its tourism industry is India as shown by a BBC video. The country is viewing it as a main generator of future growth. Some important issues that the government needs to address are the lack of enough tourist attractions, and more importantly, to identify its target market. An important question is whether the country will focus on attracting holidaymakers or luxury travelers. This is the first of many choices that need to be made in order for tourism in India to become one of the country's main industries.
When planning a trip one of the first things to consider is what type of transportation to use.
The most popular method for long distance trips is flying. Air travel is still a large industry even though it recorded huge losses last year and the year before. It has also played an important role in promoting international business through the years as it has made international travel more convenient.
When choosing a major, one that most students do not consider is ice cream making. However, in Italy it is a field of study that has seen an increase in enrollment.
There is one university located close to Carpigiani that is dedicated to instructing in gelato making. Since the economic downturn has started it has seen an 89% increase in enrollment. Many executives who have been laid off from all over the world have been looking into switching their career to ice cream making and opening their own gelaterie in their home countries.
You finally landed a job in these tough economic times and now you are learning your new role, meeting new people, getting used to environment and trying not to get lost on your way to the copy room. The last thing on your mind is the fact that in today's world anyone can be held accountable if there is a corporate scandal. Therefore, it is crucial that you familiarize yourself with your company's expectations, policies, and regulations. Whether working at your home country or in a foreign place, knowing the particular ethics code of the company can save your job.
Many companies launch a new product and enjoy high sales if the product is successful, but somewhere along the line they forget that it will not be as profitable infinitely. The business world today is extremely competitive, especially since there are many products that differentiate very slightly from each other. Therefore, spending some time to think on possible ways to improve a product should constantly be on the daily agenda.
It is finally here! China recently opened a chocolate theme park in Beijing. It contains five indoor pavilions with controlled temperature so that the chocolate does not melt as well as two outdoor sites. They offer displays of various chocolate made objects such as replicas of the Terracotta Army, the Great Wall, famous paintings, and other items such as shoes or sports equipment, and a full size BMW. Tina Cheng, who will be operating the park, said that visitors will be offered a full chocolate experience - they will be able to see, touch, taste, and purchase the different chocolate items.
A couple of years ago, customers were delighted because they were able to order products online from their living rooms. It is easy to compare prices and products online using different websites.
Now, the way we shop is changing once again. Companies are not waiting for shoppers to find them; instead they are approaching people online using social media such as facebook and twitter. Imagine just making a post whether to buy a new car or not, and an offer to test drive a car is sent to you in your mail box. This is one way GM is trying to gain more customers.
Business is an ever changing field due to how Global it is. International business deals are made every day and traveling abroad for business reasons is a typical activity. However, there is one thing to keep in mind every country has a different manner of conducting business meetings. Fortunately, business people around the world are becoming more open to different cultures and thus more understanding to cultural mistakes.
China's State Council announced new plans and guidelines that are aimed at promoting the development of the tourism industry over the next five years. This is an attempt to improve the employment rate in the country since the tourism sector consumes fewer resources while generating job openings. The government is hoping that tourism will become a leader industry in the national economy.
In the past decade "going green" has been a popular word among businesses. Many have changed a plethora of their methods to be more environmentally friendly. The business green movement has evolved from the global green movement in other areas.
Going green and being conscious of the environment is something that dates back to the ancient Greeks and Romans. In the middle of severe fuel shortages, they began building cities and houses with windows facing the sun in the wintertime to make use of solar energy. A more recent example is the idea of sustainable development, meeting human needs while preserving the environment. This idea emerged in a series of meetings during the 1970s and 1980s. In 1972, the UN Stockholm Conference on the Human Environment was the first great international meeting to address how human activities are harming the environment. However, action plans were not drawn until the UN Conference on Environment and Development in Rio de Janeiro in 1992.
The European Commission recently funded a five year project that was completed during fall 2009 - the ENSEMBLES project. Its purpose was to develop a prediction system to provide relevant information on climate change and its interactions with society. According to a report submitted by the scientists who worked on the project, France, Italy, and Spain are some of the countries that will most likely experience great changes by the end of the century due to climate changes.
In a small village in Italy, one entrepreneur decided to start a business in an unusual location - a castle. With workers not having to clock in, the atmosphere is quite different than other typical factories. Brunello Cucinello's cashmere factory has been extremely successful. The full story can be found in a video from BBC NEWS.
It is surprising to many how well the business is doing because of the untraditional way it is run. Is it possible for other businesses to adopt similar working conditions and be this successful?
In October of 2008, Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum formally established Al Nassma - a chocolate producing company. It is not just another chocolate brand however. What distinguishes it from other brands is the fact that Al Nassma chocolate is made with camels' milk and is the first of its kind.
The preferred way of travel for long distance travel among those in the business field has been by air. Flying takes less time and is more convenient than taking a four hour train trip to the desired destination. However, flying has its disadvantages as well - lost luggage, taking taxis to and from airports, etc.
In Spain however, taking the train from two main cities - Madrid and Barcelona has become very popular since the opening of Alta Velocidad Espanola high-speed service. This rail service provides the same luxuries as a plane - breakfast, newspaper, and comfort; however, it is a faster journey than flying. This improvement in high-speed rail has shifted most travel in Spain from air to rail. Even though Spain joined the high-speed rail industry later than other countries, it has become one of the top leaders in it - right after Japan and France. Furthermore, it has brought more tourists to Barcelona and Madrid which has been a boost to business there. Also, the success of this project has been noticed from other countries. For example, there is a proposition in Britain for a high-speed line between London and Glasgow. Moreover, in the U.S., there is a proposal to invest $8bn in high-speed rail.
In conclusion, high-speed rail in Spain has been a huge success, as it has enabled railways to take market share from airlines and has been promoting economic development. It also promotes competition in the travel industry and stimulates innovation in other countries as well.
Many companies consider Africa as a dangerous place to do business. This is mainly because there is a lot of negative publicity that surrounds the place and people tend to hear and remember it better than all the positives in the region. Viewing Africa as an unworthy place to expand a company's market is a huge mistake.
What do you do when your cell phone company changes its prices in the middle of your two year contract? If you terminate your contract, you will be charged and you cannot simply say "no" to the changes. Some companies promise fixed rates while the contract lasts; however, in many countries in the world, companies have a policy of "prices are subject to change". The reason why a cell phone company would decide to raise prices is in the hope to make a bigger profit - you either pay the high price or you pay the charge to cancel. However, this is where they go wrong.
Researchers from the IMD business school in Lausanne, Switzerland ranked the competitiveness of 57 of the leading economies in the world based on 329 criteria. These criteria come from 2/3 hard statistical data and 1/3 from surveys that are put into four factor categories: economic performance, government efficiency, business efficiency, and infrastructure. Here are the top ten:
PowerPoint presentations have been used in the Western world for the past 25 years and all of us have seen a plethora of them. Now, many developing countries are starting to rely more and more on PowerPoint to present information as well. As the world becomes more and more technology and service based it is only natural that we will see an increase in the use of PowerPoint. However, not many of the presentations are enthusiastic. Chances are that the majority you've seen were boring. Good PowerPoint presentations can be the key to bringing improvements in a company. This is because they are easy to create and provide a convenient way to present information. Furthermore, they can be used to educate employees, to present ideas, to point out errors, or map out new ways to achieve goals. These are important things to companies. However, for the presentation to be successful, one should beware of a few things.
Many managers are feeling under pressure at work due to the current state of the economy. In their desire to boost up morale at work, many of them actually tend to reward bad behavior in the office which can be costly to the company. The following are some well-intentioned practices that tend to backfire and ways to fix them:
While more developed countries have been faced with huge financial problems and equities have advanced just under 50% this year, markets in developing countries such as China and India are trading at 52-week highs. Furthermore, emerging markets account for about 50% of world GDP. It seems likely that they will be the source of global growth over the next few years, seeing that developed countries are spending resources in reducing debt and rebuilding banking systems.
Many sporting events have seen a decline in fan attendance or have had to lower admission prices as more people are losing their jobs and consider attending sporting events a luxury. Furthermore, major companies have cut their sponsorship budgets. However, more and more sports are finding a solution to finance problems by advertising and investing in Asia.
The current recession has impacted almost every sector of the economy, and hamburgers are no exception. In an environment where top quality matched with most appealing prices is the key to success, many restaurants are re-thinking their menus by including and re-imagining what the burger should be. Therefore, top chefs around the world are viewing the burger as the latest test of their culinary skills and ingenuity. Also, in some restaurants, the quality of their burger is what decides the ultimate fate of the restaurant, especially in these uncertain times.
MSNBC gives answers to questions small business entrepreneurs have - but we at globalEDGE like to ponder how this advice would be different if they were overseas. The video presents information that can be helpful to many entrepreneurs and gives advice that can easily be implemented in everyday management activities.
Do you have any thoughts on how the business climate is different internationally?
Airline companies across the world are doing everything possible to cut costs and are taking other measures to ensure revenue increases. In Europe, German airline company Lufthansa is planning on expanding by overtaking Austrian Airlines. EC officials said that Lufthansa’s chances of attaining the regulatory approval it needs were fading because the company is failing to answer concerns that the merger might reduce choice and hike fares on some routes. The main concern with the merger is that the new company has the potential to become too powerful on certain flights. This is because Lufthansa is Germany’s largest airline company and Austrian dominates routes out of Austria.
Some of the largest and most popular beverage companies in the world have been making some changes in the hope that they will help bring sales up.
PepsiCo announced its plans to invest $1 billion more in Russia over the next three years. This decision is supposed to increase Pepsi's influence in the food and beverage market in Russia and is also part of a plan to expand in emerging markets. Furthermore, the investment in Russia is funding various programs to expand manufacturing and distribution capacity such as opening new beverage facilities and snacks manufacturing plants.
Now, more than ever, it is important for the business world to employ people who are willing to continuously grow and expand their knowledge. Technology is changing constantly and what is needed is people who can adapt to different situations rather than those who do things “by the book”. Furthermore, it is important that people learn to not be afraid of failure. A big mistake can cause someone to lose their job, but risk-taking can also lead to innovation and career advancements.
France is one of the leading countries with employees taking long vacations and working short work days. For the French, Sunday has always been a day to relax, visit family, or go to church. However, the government is trying to pass a bill making Sunday a working day for stores.
Some believe that if stores in the big cities and in tourist areas are open on Sundays it will be good for business and add a boost to the economy. This seems quite logical, since it will be more convinient for tourists and will also increase the income of those working. However, many disagree with the idea. They are used to regarding Sunday as a work-free day. Therefore, in order for the idea to reach its desired success, it is necessary to keep workers enthusiastic about work on Sundays.
As jobs are scarce worldwide, women in some countries are finding it harder than ever to find a job. There are still many places where women are not allowed to work, and in almost the entire world women are faced with less opportunities to get ahead than men. This is not only unfair, but a business mistake. Especially now, when the world is faced with a financial crisis, both men and women should be given equal opportunities. Also, including women in the workforce allows for more innovation in the economy as there is a larger diversity of ideas.
Watch this video to hear the story of women trying to make it in the world of construction. It is important to give both men and women the chance to prove themselves capable of doing any kind of work because the world of business needs some renovation.
Gas prices have been fluctuating in the past few weeks without following a certain trend. The volatility is minimal however, when compared to last summer's record-setting high prices. Many people started using public transportation more often, or buying more fuel efficient cars. Others looked toward hybrids. This increased the pressure on car companies to produce zero-emission vehicles at an affordable price. Nissan was one of the companies to rise to the challenge. Spokespeople for Nissan express confidence when saying that their new electric car will sell exceptionally well because it is what the consumer wants.
Flying has been the dominant travel option in our lifetimes, mostly due to its speed. However, disgruntled travelers have often been fed up with the long lines, invasive security checks and the occaisonal canceled flight. In light of these issues, another mode of traveling has been attracting customers the past few months – luxury trains.
“Less is more.” It is a phrase often used and many tend not to believe it – especially when it comes to business. This lesson especially applies to small business entrepreneurs would be worried that they do not have enough capital to achieve their goals. When a company is operating on a tight budget, it will tend to have a lean cost structure and accordingly perform much better than a company that has received a lot of cash from venture capital firms.
A proposed 12-mile bridge across the Baltic Sea connecting Germany and Denmark, if approved, will be finished by 2018. The bridge will directly connect the two countries and replace the Scandlines ferries which operate on the route now.
There is a plethora of pros and cons to this proposal. The bridge will make travel not only easier between the two countries but also shorter. It will eliminate waiting at the dock and shorten the drive between Copenhagen and Hamburg. Consequently, business between the two countries will also be conducted more efficiently. Furthermore, an increase in tourists crossing the border between the two countries would likely result, and the tourism industry would stand to profit from this new option in travel.
Richard Gelfond, co-CEO of IMAX, talks about the company's decision to sign a contract with a company in China due to the potential the country holds.
This deal is expected to increase profits for IMAX and the film industry in general. Furthermore, it will be helpful to the Chinese economy as it introduces a new product to the market with the potential for success.
One of the most well-known soccer teams in the world is the Spanish team Real Madrid. It is mostly famous for being able to afford the best players worldwide – Beckham, Di Stefano, and Zidane in the past and Kaka and Ronaldo in the near future. Recently it offered a world record amount (over $100 million) to Manchester United for their most recognized player – Cristiano Ronaldo. A few months ago some European teams were faced with the possibility of bankruptcy but this has never been the case with Real Madrid. Many wonder where Real is getting all this money from when the world is in a recession?
For three and a half years Porsche tried to take control of the much larger Volkswagen. Finally they gave up on that idea and agreed to a merger instead. This merger is supposed to create an “integrated leading company” which will include VW’s nine brands and Porsche. However, details about the merger are not clear and many believe the deal will end up falling through. Furthermore, after years of quietly buying up shares of VW, Porsche now owns over 50% of the company. These share purchases increased Porsche’s debt levels, and the company is now beginning to show some signs of financial strain.
For decades, Coca-Cola’s main competitor has been Pepsi. However, in recent years Coca-Cola has faced increasing competition from non-carbonated drinks such as tea, coffee, and fruit juices. This has been especially true in Japan. In response to this growing trend, Coca-Cola has developed a new product – green tea-flavored Coke. The product targets mainly health concious women in their 20s and 30s. In response to this product, Pepsi is planning on launching basil-flvaored Pepsi. As of right now these new products are going to be sold in Japan only, however if Coca-Cola’s new bevarage is met well by customers, it will be marketed in other countries such as the United States and countries in Western Europe.
Facebook has become quite popular among people from all countries and age groups. The website is very convinient and easy to use. Most importantly it is free. However, there are rumors that facebook will start requiring its members to pay for certain applications and there is a possibility that users will have to pay for having an account on facebook in the future.
Over the past decades job stress has been steadily increasing. The top countries where businessmen admit they are “super stressed” are Taiwan and Hong Kong, and the ones that report lower stress levels are countries in Western Europe. Unfortunately, in the past few years stress in the corporate environment has been rising fast due to the global economic conditions. And this is how we get into a vicious circle of stress: the economy experiences a slump, workers feel more stressed, their productivity is reduced, economic conditions get even worse, and the cycle continues.
Is the media trustworthy? The internet has become one of the most widely used sources for obtaining information. However, when everyone can post information, how do we know if it is correct? We are warned not to use certain websites as primary resources; however, many use them anyway and post the information in usually trustworthy websites. Consequently, many read it and something completely untrue can be written down as a fact.
Spain has the highest unemployment rate out of all developed European Countries. One region that is in desperate need for new investments and jobs is Aragon. Therefore, the parliament has decided to approve a law to allow the construction of a casino city in the countryside near Ontinena. The following video gives details about The Gran Scala project.
American universities are not cutting down on financial aid; instead, they are cutting down on students who need it. This year will be harder on students pursuing higher education if they need financial aid. According to a New York Times article, students who are “maybe-s” when it comes to acceptance are more likely to be denied if they need financial aid. Truly, there is more financial aid available for universities to award; however, there is also an increase in students who need it.
"The era of a perfect Internet computer for $99 is coming this year,” said Jen-Hsun Huang, chief executive of Nvidia. The technology industry is facing a new revolution. The need for efficient, small, cheap computers has been growing and is finally reaching a peak. The way producers have responded to the latest consumer needs concerning laptops is the new netbook. The netbook is a light and cheap compact PC. Even though it has trouble running more demanding software such as games and photo-editing programs, it is something that you carry around all day since the battery lasts hours with only one charging and it is great for people who mainly need a PC to go online. The first of the new netbooks will be on the shelves in June probably provided by Acer and Asustek.
Innovation is extremely important in the competitive global business world we live in. Therefore, it significant for business graduates from any university in the world to master this skill. The following video is an interview with Dean Tom Campbell of the Haas School of Business on the importance of innovation and the steps the school has taken to ensure that its graduates obtain the skill to develop strategies for outstanding business ideas.
Passport requirements have been a complicated issue for travelers in
These new regulations will have a tremendous economic effect on the involved nations.
It is a fact that the world is in a financial crisis. It is a fact that many are losing jobs; that many have lost money; and many more will find themselves having to pay back loans that they do not have the money for. Every one knows that, but what are we doing about it? It is time for the world to look into some positives about the financial crisis because pointing out the negatives is not helping out anyone.
The world is still in a financial crisis and it is highly unlikely that it will be over soon. Many nations still blame the problem on CEOs in the United States. After the government bailed many banks out, people ask what is happening to that money. Is it really put into good use or do banks keep on lending more? Everyone knows that the problem is that consumers and businesses are facing huge debts, but it doesn’t seem that CEOs are taking any responsibility.
The terms depression and recession were not even around until after the Great Depression. However, they have been used plenty of times lately. It has been months since the American government has declared the economy to be in a recession and it seems that the world thinks that a depression for the
The average Frenchman works about 18 hours per week, the average Italian – close to 17. Even
The travel industry is certainly not recession proof. As more and more people lose their jobs, and as others worry about theirs, many people are being cautions and choosing to stay home and avoid traveling too much. However, the fact that people still value their holidays remains. In a survey by CheapTickets.com and SmartMoney.com people ranked travel as the second leisure activity they still try to afford.
On January 1, 1999, a new currency was launched in
The global economy may not be showing signs of improvement; however Slovakia is hoping to see some stability of its economy in 2009. Five years after it joined the European Union, the country is accepting the Euro as its official currency. Slovakia has had to cope with volatile currency for years and now many companies see the change from the Slovak Koruna to the Euro as a positive change that will lead to more stability.
We have all heard that the diamond is a woman’s best friend. The shiny rock has been providing income for many families and it has been a profitable industry for a long time. However, even the diamond industry is not economy proof. India has been one of the world’s biggest exporters of diamonds for many years. The country makes over four billion dollars from diamond exports each year. This year however, instead of an increase in profit from the diamond industry, India sees an increase in suicides because the industry is not doing well thanks to the global recession that has been the reason for many to lose their jobs. As of December 30th, there have been nine reported suicides of depressed diamond workers in the past 15 days in India. The situation has become so grave that NGO’s that have been previously working with HIV/AIDS affected people, have now started to counsel diamond workers on livelihood.
As the economy continues to recede, many people are starting to think about their futures more seriously. The unemployment rate in the U.S. is at 6.7% and we are facing the worst job market in the past 15 years. Fortunately, there are still some industries with hiring potential.
In the past few years as petroleum was getting more and more expensive, scientists were trying to find alternative ways of transportation such as hybrid cars. Well, Italian company COVINI Engineering had a different focus. We have all heard of a 4-wheel drive, but how about a 6-wheel car? This is what the Covini Six Wheeler is (C6W). The team of COVINI Engineering has been developing a six wheel car for over 30 years and now they dream has come true – the car will be produced in limited numbers starting at the end of 2009. The C6W has four front wheels and two in the back. The car reaches a maximum speed of 300km/h (185mi/h) and its light weight “can give superb driving sensations” according to the COVINI Engineering website. Some of the reasons Ferruccio Covini – founder of the company gives for creating the CW6 are better grip, better breaking, less chance of aquaplaning.
Medical tourism refers to people who go to foreign countries to get medical help. In recent years, the popularity of medical tourism has been increasing. There are many factors that have contributed to this – high costs of healthcare in industrialized countries, waiting lists in countries with public healthcare, ease and affordability of international travel, and better technology across the world.
For many years Americans looked at
Many Europeans feel very triumphant now as Leon Brittan, who served as Home Secretary under Margaret Thatcher and was a top official at the European Commission, says that "There’s no doubt that it was a British plan that was copied by the U.S." As the financial crisis deepened, Europeans came up with a bailout plan that has set up the pace for
Organized crime has been an issue for many years in
Football, or soccer as the Americans call it, especially in England is the second most important thing after family in life; it is like a religion. Europeans follow it closely because it is part of their lifestyle. But what happens when t-shirt sponsors go bankrupt? When team sponsors suffer huge financial setbacks because they hold stakes in Icelandic banks?
As gas prices remain unpredictable and other environmental issues become a greater concern, there has been much more talk about electric cars. Yes, the electric car is real! Innovations in lithium ion batteries and the materials used to make them have increased the range of electric cars and decreased the amount of time needed to recharge them.
Various municipal and university fleets now have electric cars in use, however, the problem of recharging them still remains a valid concern. What is needed is an infrastructure for recharging them on the go. The problem with this is that many investors are hesitant in investing a huge amount of money in building a widespread system of recharging units for electric cars without being sure that it would pay off. On the other hand, consumers are reluctant about buying electric cars when there is a lack of places to “fill them up." At least there is a lot more talk about electric cars now than there was a decade ago. Analysts warn though that profits are years off. They give hybrid cars as an example - hybrids have been around for years but are still not profitable.
Animal friendly products or the new thing on the market? Salads that are on a blue table or salads on a red table? Loaf of bread or sliced up bread? Cheese slices wrapped in plastic or not?
Dutch lab researchers try to figure out what people eat and how to influence their habits. They study the influences on eating in order to be able to find ways to make products more appealing and to direct consumers to healthier choices.
The $4.5 million Restaurant of the Future is run by scientists of
The credit crisis that has been a major issue in the