Saturday, February 29, 2020

Changing Economies of Asia

Globalization is the process of spreading the people, ideas and goods across the world. It increases the connectivity and interaction between the different cultures, governments and economies in the world. Globalization is used mostly to denote the connectivity of economies in case of free trade, flow of capital, and labor markets in foreign used by corporate o maximize their returns[1]. From the last few years, numbers of MNC’s are increasing which result in increasing of globalization. MNC’s stands for multinational companies, which establish their production house in number of countries. Activities conducted by multinational organizations contribute in the increasing trend of economic globalization. In last 15 years economic integration process is developed at wide level. There is tremendous growth in the three aspects of economic globalization that is trade, foreign direct investment (FDI) and the international transfer of knowledge and technology. MNC’s set up their production houses in those countries where there is availability of cheap labor, liberal government policies are there, and where markets can be reached easily[2]. In this paper we discuss the impact of globalization on value chains, and also focus on the other topics which are closely related to this topic. In last we conclude the essay with the conclusion in which we describe the impact in concise way. Before discussing the impact of globalization on value chain, it is necessary that we understand the term value chain, its features defined by porter, and difference between value chain and supply chain. Value chain means activities conducted by corporate that creates value at every step. Process of value chain focuses on separating the useful activities from the waste activities. Activities which are value creating give many advantages to the corporate such as brand image, lower cost of manufacturing product and many more. The concept of value chain is defined by Michael Porter in his book launched in 1980 named as ‘competitive advantage’. According to porter value chain consists primary activities and support activities[3]. Primary activities and support activities are defined below:   There is misconception among the people that value chain and supply chain share similar concept, but there is a difference between supply chain and value chain. Supply chain is a process which interconnects all the activities, which means activities start from the manufacturing of product and ends when the product sold to the final consumer. Whereas, value chain is a process in which company conduct activities which add value to the product. Basically, these two concepts help in enhancing the quality of the products[6]. The basic differences between these two concepts are mention below: It focuses on value addition to the product at every step. Its main objective is to reach customer satisfaction Its aim is to gain competitive advantage. It is originated from management of operations. It is originated from business management. After discussing the definition and features of value chain, now we discuss how globalization has affected the value chains. A new concept was introduced that is global value chains. The economy at global level is structured around the Global Value Chain (GVC) which contributes in the increasing share of international trade, GDP, and employment.   GVCs basically connect the companies, workers and consumers around the world, and also provide chance to companies and workers of developing countries to connect and stand in the global economy. For many countries which have low level of income it is important for their development that they adopt the concept of global value chains, and insert themselves in these chains. GVCs helps in competing in the global market, capture the gains in the terms of national economic development, and it also builds the capability to generate more and better jobs which result in reducing the poverty and unemployment[7]. Now, GVCs become the most important factor for the economic globalization which was supported by the new opportunities which are technical in nature, and advantages of economic specialization. However, it is clear that GVCs play an important role in the development of economies. Current Trade Rules are not supporting the concept of GVCs, therefore new trade rules are required for GVCs. GVCs connect the markets of goods and services, which facilitate the production of goods outside the final firm. These networks based on the unbundling of different steps of the production process. GVCs make the unbundling of task easier, for example electronics/ICT, automotive and garments[8]. Impact of globalization on value chains can be understand with the help of these two terms vertical disintegration and smile curve. Vertical disintegration means that procedure which was followed by one company to cover all the activities related to raw material, administration, production, and end product. The vertical disintegration in global value chain has two important factors in the global economy[9]. Globalization and vertical integration shares a relationship from many years. John McLaren explains that globalization and vertical disintegration is not that much supportive?   The term vertical integration confer a externality which is negative in nature, which results in thinning the markets for inputs and destroy the opportunities in market[10]. On the other hand, the concept of smiling curve in relation o global value chain is used at the level of individual firms, but it was not much used on the level of industry and country. The concept of smile curve was introduced by th e Stan Shih in 1992. He observed that if both the ends of value chain shows the value added to the product, and if this concept was presented in the graph in which Y-axis is denoted for value added and X-axis is denoted for value chain. This graph automatically shapes in smile[11]. In last, we discuss the role of MNCs in outsourcing, cross border trade and trade in intermediate goods. First we discuss the role of MNCs in outsourcing, Outsourcing by MNCs provide competitive advantage and cost benefit to the companies. There are many more benefits which companies grab from the outsourcing such as enhancing the quality of the product, restructuring of product cost, and many more. Many MNCs are used outsourcing as their global strategy because of these benefits. In last few years the concept of outsourcing was growing at large level and it becomes beneficial for developing countries like India, China, Malaysia, etc. but there is disadvantage also such as job losses of the people who are belong to home country of MNCs[12]. Second we discuss the role of MNCs in cross border trade, MNC is an organization that engaged in the foreign direct investment (FDI). MNCs also engaged and control the activities of value adding in number of countries. These companies can be public or private both, structure of these companies generally consists parent companies which was established in the home country and control the subsidiaries which are established in different countries across the world[13]. Usually, MNCs engaged in cross border trade to access the market of different countries and expand the operations of its business. They also make cross border trade to improve the efficiency of production and operations. Companies set their units for production in different countries where cheap labor is easily available[14].   In way of increasing the profits many MNCs adopts the concept of horizontal and vertical integration. For achieving their profitability MNCs set their production or distribution units in other coun tries. Usually, MNCs adopt three strategies to adopt the foreign market and facilitate cross border trade such as they sign agreement with the local units of that country to sell the products of MNCs, MNCs set subsidiaries in the foreign countries under the act of that country, and in last MNCs opens branches in the foreign country which is not legally independent business units[15][16]. In last we conclude, that global value chains contribute at wide level across the world. It plays an important role in the development of economy at global level.   In this paper we discuss the impact of Globalization on the value chain, and other related topics such as definition and concept of value chain, and role of MNCs in the global economy. Value chain means activities conducted by corporate that creates value at every step, and value chain consists of two activities that is primary activity and support activity. In this we discuss the impact of globalization on value chain with help of two factors which are vertical disintegration and smile curve, and in last role of MNC which states that Activities conducted by multinational organizations contribute in the increasing trend of economic globalization. In last 15 years economic integration process is developed at wide level. There is tremendous growth in the three aspects of economic globalization that is trade, foreign direct investment (FDI) and the international transfer of knowledge and technology. This paper also states the role of MNCs in outsourcing, and cross border trade which giv e more emphasis on how MNCs grab the foreign market and increase their profitability.   Techtarget. 2016. Globalization. The internet journal of search cio. Http://searchcio.techtarget.com/definition/globalization.   jà ¶rn kleinert. 2001. The role of multinational enterprises in globalization: an empirical overview. The internet journal of kiel institute. Https://www.ifw-members.ifw-kiel.de/publications/the-role-of-multinational-enterprises-in-globalization-an-empirical-overview/kap1069.pdf.   The economic times. Definition of 'value chain'. The internet journal of economic times. Http://economictimes.indiatimes.com/definition/value-chain.   IFM. Decision support tools. The internet journal of university of cambridge. Http://www.ifm.eng.cam.ac.uk/research/dstools/value-chain-/.  Ã‚   q stock inventory. 2013. Comparing value chain and supply chain. Http://www.qstockinventory.com/blog/comparing-value-chain-and-supply-chain/.   Gary Gereffi & Karina Fernandez-stark. 2011. Global value chain analysis: a primer. Http://www.cggc.duke.edu/pdfs/2011-05-31_gvc_analysis_a_primer.pdf.   carlos a. Primo braga. 2013. Globalization in the 21st century: The role of global value chains. The internet journal of imd. Http://www.imd.org/research/challenges/tc065-13-globalization-in-the-21st-century-the-role-of-global-value-chains.cfm.   michael g. Jacobides. 2005. Industry change through vertical disintegration: how and why markets emerged in mortgage banking. The internet journal of academy of management journal. Http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.565.6021&rep=rep1&type=pdf.   John McLaren. Globalization and Vertical Structure. https://www.jstor.org/stable/2677849?seq=1#page_scan_tab_contents.   Ming YE , Bo MENG , and Shang-jin WEI. 2015. Measuring Smile Curves in Global Value Chains. https://rigvc.uibe.edu.cn/docs/20160329210052329340.pdf.   Linked In. 2015. Outsourcing by multinational companies - global corporate strategy. https://www.linkedin.com/pulse/outsourcing-multinational-companies-global-corporate-writer-1?trk=pulse-det-nav_art.   Hendrix Mbuckwa. 2016. The role &impact of multinational corporations (MNCS) in Malawi. https://www.linkedin.com/pulse/role-impact-multinational-corporations-mncs-malawi-hendrix-mbukwa.   UNC. Multinational Corporations in the Global Economy.   https://www.unc.edu/~toatley/mncs.pdf. Richard Baldwin. 2013. Misthinking Globalisation: Twentieth-Century Paradigms and Twenty First-Century Challenges. The internet journal of Australian Economic History Review. https://www.eastasiaforum.org/2013/02/24/the-wto-and-global-supply-chains/.   Supriya Guru. Role of Multinational Corporations (MNCs) in Foreign Investments. https://www.yourarticlelibrary.com/microeconomics/foreign-investment/role-of-multinational-corporations-mncs-in-foreign-investments/38224/.   Net MBA. The value chain. https://www.netmba.com/strategy/value-chain/. .com houses experts from all possible disciplines to help students in the best possible manner. Owing to our experts' extensive knowledge in their respective field, we are capable of providing subject-wise quality academic assistance such as marketing assignment help , mechanical engineering assignment help , English assignment help , taxation assignment help , electrical assignment help , etc.    Explain why firms’ marginal cost curves become upward sloping after a certain level of output has been reached. test While for the margina... Question: Discuss about the professional developers comprehend software?    Answer: I have been working in the USA Technologies for nine months now, and it ... Question: Describe about the Rethinking Oil Nationalism?    Answer: 1. The engineering discipline that I have chosen is Mechanical Engineering and I have se... Question: Explain about the Advertising for An integrated marketing communication perspective?    Answer: Introduction: Social media has become the part of... You are required to write a researched argument essay that convinces persuades the reader of your position / stance. This is an academic, researched and referenced do... Ph.D in Psychology with Specialization in Industrial-Organizational Psychology 1592 - Completed Orders MSc in Nursing 1309 - Completed Orders PhD in Chemistry with Specialization in Organic 234 - Completed Orders MSc in Nursing 2632 - Completed Orders That's our welcome gift for first time visitors Rated 4.9 / 5 Based On 14001 Reviews Copyright  © 2019 .com. All Rights Reserved Disclaimer: The reference papers provided by .com serve as model papers for students and are not to be submitted as it is. These papers are intended to be used for research and reference purposes only.

Thursday, February 13, 2020

Management and leadership in exercise and sport Essay

Management and leadership in exercise and sport - Essay Example Hence management can be described as the art of getting things done or getting resources being used through people. This paper will look at the above mentioned functions of management and how they are employed in management. (Higgings 1994, p. 34) There are four basic functions of management. First management is involved in planning the resources for the organization. In this regard, management performs the work of determining resources that are to be used in the organization and how they are to be used. Management also carries out the work of leading the organization. In this function management works to direct resources in the organization on how they are to be used. This calls for application of leadership skills in order to direct others on how the resources are to be used. Management also functions to coordinate the operations of the organization in order to ensure that resources are used in the most appropriate manner. In this regard the management coordinates the functions of different departments in the organization so that they can function as one system. Management also functions to control the resources in the organization. ... Planning should act as the base under which all other functions of management are to be carried out. It forms the core operation of management function since there can be no management if there is not efficient planning of how resources are to be used in the operation of an organization. Planning involves the assessment of the needs of the organization and consequently coming up with ways on how those needs are to be fulfilled. Assessment helps the management to understand how all other functions are to be integrated in order to achieve the set goals. Basically planning involves setting goals and objectives that has to be achieved. (Purcell 2006, p. 5) Planning can simply be termed as an unending course of actions. It involves coming up with set of problems to be addressed and strategies that will be used to address the problems. Planning is therefore the way in which management assess the needs of the organization and consequently comes up with strategies aimed at addressing the specific needs. Strategies can be termed as a systematic way of addressing external and internal factors that helps an organization to achieve its objectives. Depending on the conditions and the needs to be addressed, the management may have to come up with different strategies or change its course of action in fulfilling its goals. This is function of management is called strategic planning. In this regard the management must take time to analyze internal and external factors that may affect the strategies of an organization to achieve the set goals. It invokes studying strengths and weakness, opportunities and threats of the organization in its pursuit o f achieving the set goals. This requires practical and

Saturday, February 1, 2020

Using examples, critically discuss the importance of gastronomy to at Essay - 1

Using examples, critically discuss the importance of gastronomy to at festivals - Essay Example In today’s tourism industry, destinations are presenting food as a key element of their package to attract tourists. The objective of this essay is to analyze the role of gastronomy at festivals. A very good example of festival and trade based on gastronomy is Whitstable Oyster Festival in Kent. It is one of the ancient food festivals in the UK (Hall et al, 2008). It celebrates the tradition of the oyster industry in Kent. Haven-Tang et al (2006) have discussed the role of food festival in developing a sense of place. In the context of Monmouthshire food festival, the focus on local food and drink has been reported to have significant positive impact on the local economy Haven-Tang et al (2006). Moreover, it has proved that the emphasis on local food and drink through these festivals improve the visitor experience as well. A very interesting gastronomy project that was customized and exclusively designed for the promotion of local food and community was the ‘Eat the View’ project developed by the UK countryside agency. The festivals as part of this are reported to have created awareness among the travelers on the local food and culture and have had substantial positive influence on the promotion of local food ventures (Hall, 2005). The Great British Food Festival - Staffordshire, The Colchester Food and Drink Festival are some among a lot of food festivals coming up in the UK confirming the increasing role of gastronomy in tourism. Wine festivals are reported to be of great potential in the context of the United Kingdom (Hall et al, 2008). The ‘Taste of London Festival’ which was conducted in Regent Street in the summer of 2007, was a gourmet festival which is reported to have important role in improving awareness among the tourists on British Food. This brand of food festiva l was later replicated in the cities of Bath, Edinburgh, Birmingham and Dublin (Hall et al, 2008). The impact of