globalEDGE NEWSLETTER
Iceland
As globalEDGE celebrates its 15th anniversary of the conceptualization of the site, so we also wish all of our users the best in the New Year!
Most Icelanders do not have a family name (such as Johnson, Smith, etc). Children have a given name and then father's-name-son or father's-name-daughter (i.e. Jon has a son, Andrés, and a daughter, Rós. Their full names would be Andrés Jonsson and Rós Jonsdóttir, with the suffixes being son for a male and dóttir for a daughter). Thus, because they don't have surnames, it is not appropriate to call an Icelander by Mr. or Ms. Almost all Icelanders use the first name with everyone-including the president of Iceland.
Home of the world's oldest parliament, Iceland, Europe's second-largest island, is one of the most socially-advanced nations in Europe. Iceland's health-care services are some of the best in the world, with the life expectancy of Icelandic men being 76.4 years and 81.3 years for women. Additionally, the literacy rate in Iceland is 99.9%, the highest in the world, which is often attributed to compulsory education for children 7-16 years old. Though Iceland has never applied for membership into the European Union, it is a member of the European Economic Area (EEA), which allows it access to the single market of the European Union. The current financial crisis is hitting . Its three major banks, Glitnir, Landsbanki, and Kaupthing have amassed debts which amount to nearly six times the annual GDP of the country, which is roughly €14 billion, or $19 billion. The government has taken over the three banks, essentially turning the country into one giant hedge fund (Read more about this on the gE Blog!). It is unknown whether Iceland will emerge from its economic crisis anytime soon, but based on the success of other aspects of the country and the outlook of its people, Iceland should be just fine. Prime Minister Geir says, "We will be fine. We can eat what we can fish." Fortunately for Iceland, they have abundant natural resources and a solid infrastructure with which to weather their economic crisis.
Traditionally, Iceland has been one of Europe's priciest vacation destinations. However, following the recent financial collapse, vacationing in Iceland has become much more affordable. Since the financial crisis, the Icelandic króna is worth less than half its value a year ago, which, as economics tells us, increases the value of other currencies being used in that country. Some multi-night deals are starting at $400, a sign of both the depressed Icelandic economy as well as the desire of attracting foreign currency in order to help jump-start the economy.
Hosted by the Invest in Iceland Agency, the site provides a wide range of information for the investor and businessman. Categories of information include business climate, infrastructure, communication, investment guidelines, taxes, logistics, investment sectors and publications.
Category: Iceland Country Resources
This subsection of the Kwintessential website provides a comprehensive overview of the many different aspects to consider when conducting business in Iceland.
Category: Iceland Country Resources
The Culture module offers one a general understanding of the following: what is meant by culture, why it is important to learn about other cultures, and the different levels of culture in society; various dimensions of and approaches to understanding culture; the implications of cultural differences in conducting international business; the impact of culture on business negotiations and how to conduct business successfully in a foreign culture.
Category: Online Course Modules
IDEAS -Internet Documents in Economics Access Service- is a new service providing information about working papers to the economics profession. The above link takes you to the International Economics section, which is further divided into subsections: General, Trade, International Factor Movements and International Business, International Finance, and Macroeconomics Aspects of International Trade and Finance areas.
Focus: International Business
Category: Paper Depositories
"Worldwide Faculty Perceptions of Marketing Journals:
Rankings, Trends, Comparisons, and Segmentations" by Tomas Hult, Martin Reimann & Oliver Schilke
How does the marketing professorate at the top business schools worldwide rate marketing journals? In this study of 629 faculty members, the authors rank marketing journals using the Popularity/Familiarity and Importance/Prestige Indices. Overall rankings are presented along with ten segmented rankings based on faculty rank, geographic location of schools, and subareas within marketing. A trend analysis using 1987, 1997, and 2007 data is also conducted, and comparisons to ranking studies using different methodologies are summarized.
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