Demand And Supply Of The International Business...

Chapter 7: 1. Exporters typically prefer conservative measures when managing foreign receivables. Because of this, there is a tendency to lean on the side of caution. Describe at least three reasons for this conservativism. Exporters typically prefer conservative measures when managing foreign receivables. Because of this, there is a tendency to lean on the side of caution. Three reasons for this conservatism are described below: 1. Fluctuation in exchange rates: Exchange rates of currencies of different countries fluctuate continuously and in a very random manner with the change in the demand and supply state of the concerned currency. That can translate the profit from the international business transaction into a loss or vice-versa. Thus, the exporters dealing with foreign receivables should be conservative to avoid this risk. 2. The difference in the legal system: Different countries have different legal rules and policies for dealing with and managing the foreign accounts receivable. It is mostly harder for a business to pursue any overdue amounts from an international business due to the difference in the legal system. It is another reason for the conservative approaches of the exporters. 3. Change in export prices: Unexpected change in the commodity prices in a particular country will arise a great risk for the exporters when managing foreign receivables. Change in commodity price will also influence various other costs associated with the export likeShow MoreRelatedFunctions Of Foreign Exchange Markets Essay1656 Words   |  7 PagesWhen different countries enter business together there must be currency conversion, foreign exchange markets exist because there is need to move these currencies around (Murray, Ju, Gao, 2012).. Foreign exchange market is where currencies are traded (worldbank.org). Foreign exchange is a mechanism by which the currency of one country gets converted to the currency of another country (Menkhoff, Sarno, Schmeling, Schrimpf, 2016). Exchange rates are one of the indicators of that affect the economicRead MoreResearch on Foreign Exchange Risk Management13065 Words   |  53 PagesResearch Paper On Foreign Exchange Risk Management Submitted In Partial Fulfillment Of the Requirement Of Masters of Business Administration Table of Contents EXECUTIVE SUMMARY 1 CHAPTER 1: PLANRead MoreRunning Your Own Mnc4433 Words   |  18 PagesMONITORING EXCHANGE RATE TRENDS 20 CHAPTER 10: EXPOSURES TO EXCHANGE RATE RISK 24 Analysis of the Foreign Exchange Exposures to Fashiona Jewelers 24 CHAPTER 11: FOREIGN EXCHANGE EXPOSURE HEDGING WITH FORWARD AND FUTURE CONTRACTS 26 CHAPTER 12: TRANSACTION AND ECONOMIC EXPOSURES IN THE CASE OF DOLLAR DENOMINATED RECEIVABLES 28 CHAPTER 13: SUMMARY 29 REFERENCES 30 EXECUTIVE SUMMARY Fashiona Jewelers Limited will operate as multinational operating in the United States and Maldives. The companyRead MoreWorking Capital15370 Words   |  62 Pagesday-to-day working in a business concern, such as for purchasing raw material, for meeting day-to-day expenditure on salaries, wages, rents rates, advertising etc. But there are much disagreement among various financial authorities (Financiers, accountants, businessmen and economists) as to the exact meaning of the term working capital. DEFINITION AND CLASSIFICATION OF WORKING CAPITAL : Working capital refers to the circulating capital required to meet the day to day operations of a business firm. WorkingRead MoreBusiness Implications of Exchange Rate Changes2841 Words   |  12 PagesBusiness Implications of Exchange-Rate Changes Marketing Decisions Production Decisions Financial Decisions Table of Contents 1 2 3 4 5 6 Page Introduction ........................................................................................................... 1 Marketing Decisions ............................................................................................. 2 Production Decisions ..........................................................................Read MoreBusiness Implications of Exchange Rate Changes2826 Words   |  12 PagesBusiness Implications of Exchange-Rate Changes Marketing Decisions Production Decisions Financial Decisions Table of Contents 1 2 3 4 5 6 Page Introduction ........................................................................................................... 1 Marketing Decisions ............................................................................................. 2 Production Decisions ........................................................................................Read MoreEvaluating Transaction Exposures and Hedging Solutions for Importing Steel at Construction and Materials Trading Joint Stock Company.15154 Words   |  61 Pagesnature of international trade, many companies are exposed to the risk of exchange rate fluctuation. The purchases from international suppliers in other countries, and sales to domestic buyers with account payables and account receivables in different currencies will give rise to foreign exchange risks. 1. General problem statement In an effort to meet the demand of the Vietnamese building materials market, Construction and Materials Trading Company is involved greatly in the international trade. ProfitRead MoreBanking, Money and Finance, Article Analysis Essay1520 Words   |  7 Pagesmechanism such as money channel and credit channel. For example, in the short run, bank may sell off their securities holdings to deal with liquidity problem while loan in economy still remained the same. However, loan termination and halt to new loan supply may implement by bank due to contractionary monetary policy in the long run which lead to decline in the aggregate economic output. The test carried out using auto-regressive distributed lag (ADRL) model discuss the long-run relationship betweenRead MoreCrisis in Airline Industry at Malaysia6568 Words   |  27 PagesINTRODUCTION Business environment is very important and plays significant roles for sustainability of airline business. In the global and modern world, business environment also become more complicated and more challenging to the airlines. It is important for airline manager to know because it will help the airline to plan and prepare for any changes that threatens the survival of airline business. The 21st century comes with so many changes, new technologies invented, circular of income ofRead MoreMonetary policy of Kazakhstan3173 Words   |  13 Pagesthe supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment. Monetary theory provides insight into how to craft optimal monetary policy. It is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more

Displaced People Free Essays

Myanmar is a country located in Central Asia that has experienced massive refugee migration in the last two decades. The displacement of Myanmar nationals, specifically the Rohingya Muslim group, is mainly due to three factors. Firstly, these residents have fled to other countries and even continents in order to avoid further conflict within the state (UNHCR 213). We will write a custom essay sample on Displaced People or any similar topic only for you Order Now The nature of conflict is based on human rights abuses, while others are centered on religious differences. It should be understood that Myanmar has been mainly run by the military for at least 30 years and any rebellious acts against these forces immediately result in massive killings and other forms of persecution (UNHCR 59). In addition, the principles and beliefs of the Muslim Rohingya group are largely different from that of the military. Thus, to these refugees, migration appears to be the only solution for safety and ultimately, survival. There are reports that describe entire villages burned down by highly aggressive members of the military. Two of the most documented villages in Myanmar that have experienced massive migration are the Kanyi and Karen villages. The closest country to Myanmar is Thailand and thus this neighboring country has seen a great influx of refugees in the last few decades. Thailand has been very supportive to displaced Myanmar nationals as they fully assist in providing shelter to these helpless individuals. Unfortunately, refugees from Myanmar often reach Thailand in a very deplorable state, as they have traveled by foot or by sea for several days or weeks to simply cross the border. To date, there are approximately 200,000 Myanmar refugees who currently reside in camps around Thailand, with most of them having settled there almost 20 years ago. Other Myanmar refugees have moved to Bangladesh for temporary shelter, as there were particular groups in this country that has close linguistic ties with Myanmar. By the 1990’s, approximately 270,000 refugees have been documented to move out of the northern state of Rakhine in Myanmar and were directed to two Bangladeshi refugee camps, namely Nayapara and Kutupalong. The current government of Myanmar has earlier expressed their refusal to include the Rohingya group as their citizens and would only recognize this as an ethnic group. Fifteen years later, most of the Rohingya refugees have returned to Myanmar, yet a small portion of this population made up of around 26,000 refugees have continued to refuse to return to their home country. Since Bangladesh is also a developing country, the exile of these Myanmar citizens was not as simple as could be imagined. These refugees had to adapt to their new environment for the next 15 years and eventually, through the help of the United Nations High Commissioner for Refugees, these individuals were transferred to Ontario, Canada. Other Myanmar refugees have also been reported in Malaysia, Indonesia, The Philippines and the United States. Another reason for displacement of Rohingya Muslims is political, wherein this indigenous group was poorly treated simply for the reason that they have are considered to have no social status in Myanmar. The military government considers this group at stateless and that they have no capacity to pay for the issuance of Myanmar identification cards, which is the requirement for citizenship in the country. Another cause for displacement of Myanmar nationals is environmental disaster, such as the tsunami that was generated after an earthquake that occurred in the Pacific Ocean in 2004 (UNHCR 11). The strong waves emanating from the earthquake resulted in a tsunami that left Myanmar, India, Indonesia and other Southeast Asian countries under water for several months. Myanmar residents were thus pushed to move to higher ground and farther from the sea, in order to avoid any additional effects that may come after that strong earthquake. The tsunami of 2004 has resulted in the migration of the Myanmar nationals to neighboring countries such as Thailand, Bangladesh and Malaysia. How to cite Displaced People, Papers

Concept of Project Management Methodology-Myassignmenthlep.cm

Question: Discuss about the Concept of Project Management. Answer: Introduction The main objective of the literature review is To understand the concept of project management methodology for software development project. It will allow the reader to gain deeper understanding about the project management methodologies. The benefits and limitations of the methods can be studied and the most appropriate method for the software development project should be selected. The information has been collected from various sources such as books, articles, journals, online publications and previous research papers. As per Glaiel, Moulton and Madnick, 2014, Software development project consist of many integrated and functionally dependent activities which combines to form a new product. Software projects develop a product which has never been tested. The scope of the project changes many times which leads to delays and extended budgets. Furthermore, lack of communication between the management and software developers affects the deliverables and final outcome of the project (Heagney, 2016). The literature will be useful in selecting the framework which will provide a structured approach to achieve all the objectives of the project. The methodologies which can be used are: Agile methodology Agile is commonly used for software and IT projects. According to Glaiel, Moulton and Madnick, 2014, More than 35% of project manager have adopted agile in IT related projects due to its incremental model. There are four values which are included in Agile: interactions of individuals, working software, collaboration of customer and adapting to the change. As per to Moniruzzaman and Hossain, 2013, Agile methodology should be used is projects which are not well defined. It is suitable for projects which b involves human interactions and collection of data. It allows the manager to develop self managed teams which performs their task in an effective manner. The main benefits of adoption of Agile method is that it allows the manger to make changes as per the requirements of the project. The inputs and feedback is taken from the stakeholders and it is included in the process. Azim, et.al, 2016 suggests that Agile is useful where there is need for drastic shifts or change in the assignme nts of the team. It also ensures that each process is reviewed and tested before its launch. On the contrary, Morley, 2016 believes that It becomes difficult to assess the requirements and efforts in lager IT projects and its deliverables. It can be used only with smaller IT projects. Similarly, Nelson and Morris, 2014 pints out that, Agile lacks effective designing and documentation stages which can affect the performance of the project. Project management body of knowledge (PMBOK) Project management body of knowledge (PMBOK) is a traditional method which is generic in nature. It focuses on estimations of work, risk identification, dependencies, time scales and handling of different activities. It has various best practice principles which can be used to successfully complete the project. It includes 39 groups with 9 knowledge aspects (Banihashemi, Hosseini, and Sankaran, 2017). The areas of knowledge include time, cost, integration, scope, communication, quality risk, human resources and procurement. Along with this, The process of PMBOK consists of initiation, creation of plans, implementation, reviewing and monitoring, controlling and project closure. It provides resources to the manager which helps him to gain understanding about the requirements of the project. According to Nelson and Morris, 2014, PMBOK uses iterative environment and it is completely based on the requirements of the customers. On the contrary, Rahmanian, 2014 believes that PMBOK can incr ease rigidity in IT projects as it encompasses extra when applied. It considers the entire project as a single identity which increases complexities for the manger. Furthermore, it uses descriptive approach including governance thorough project sponsor and stakeholder which may not be suitable for the IT related projects (Bresnen, 2016). Software development project can be benefitted Due To This Approach Because It Allows Error Free Updating. Prince 2 PRINCE 2 provides a systematic and structured approach which allows the project manager to organize and control different activities in the project. It has 44 process groups which helps interaction between various activities. It can be easily integrated with different models such as ITIL, managing successful programs, OGC gateway and CMMI. Furthermore, it identifies the key risk areas in the project which can be used to reduce complexities in the entire project. As per the Turner, 2016, PRINCE 2 differentiates the roles of project manager and workers which helps in managing all the activities. It is completely a process driven methodology which can be useful for software development project. On the contrary, Banihashemi, Hosseini, and Sankaran, 2017 believes that PRINCE 2 is not appropriate for the iterative approach of development. It is completely different from PMBOK as it does not contain knowledge areas and processes. IPMA Competence baseline According to Leach, 2014, IPMA Competence baseline is a model which uses competencies, qualification, knowledge and experience of the project manager to attain the objectives. The project manager can develop his own practices which can be applied to the project. It can be useful in defining competencies such as contextual, technical and behavioral. Moniruzzaman and Hossain, 2013 states that ICB method is completely different from other methodologies because it allows the person to develop appropriate methods and techniques. It can be useful for the project because the project manager has through knowledge about the concerned project. But Glaiel, Moulton and Madnick, 2014 argues that ICB does not provide any specific approach or methods which should be applied to the project. Waterfall methodology Waterfall methodology is known for its linear sequential and life cycle based model. It require through analysis and planning at each stage. The requirements are defined in the initial stages which help in planning and creation of standards. It has many steps which consist of planning, development, quality assurance, monitoring and project completion. It follows a sequential process which ensures that all the deliverables are produced with high quality. Only after the analysis the next phase is started. As pe Rahmanian, 2014, Waterfall method should be used for software testing due to its systematic approach. It should be applied to those projects which has clear and well defined requirements. Banihashemi, Hosseini, and Sankaran, 2017 states that Waterfall method allows the manger to follow the schedules which does not overlapping of activities. But it does not allow customer interaction which is needed is software projects. Morley, 2016 argues that It is not possible to back and mak e changes in the plan which increases rigidity in the project. Software projects range from moderate to high risk. Waterfall method will not be suitable for this. It is successful where technology is clearly understood and less ambiguity is there. Apart from this, the cost of fixing the errors can be very costly for the manger which can cause delays. Scrum methodology Scrum methodology provides a framework to the manager which makes it easy to manage complex activities involved in the project. It was developed as a software development project. But now it is also used in new product development and innovative projects. It can be useful in quick development and testing of codes. According to Glaiel, Moulton and Madnick, 2014Scrum considers the feedback of the customers which allows it to make changes as per the requirements. Changes can be easily made which improves the performance of the project. Apart from this, it can be used with different technologies, systems and programming language. It not only improves the quality of the deliverables but also allows the manger to follow the schedules. But Walker, 2015 believes that Scrum can lead to scope creep situation because it does not have end date. It will encourage the stakeholders to demand more improvement and development is the existing system. It may not be possible for the manager to achieve this aspect of the project. Similarly, lack of commitment and support of the workers will result in failure of the entire project (Gollenia, 2016). IT should be only used when trust and collaboration exist between team members and the project manager. Conclusion The most appropriate method which should be applied to Software development project is Agile methodology. It will allow the project manager to bring relevant changes at very low cost. Agile model uses incremental approach which is produced at regular intervals. It does not require through planning which is needed in Waterfall method in the initial stages. The project manager of the Software development project can customize the process as per his requirement. It is not possible in PMBOK which increases rigidity in the process. Along with this, it does not rely on the knowledge and experience of the project manager which is used by IPMA Competence baseline method. Therefore, it will be beneficial for the project manager to use Agile methodology in the Software development project. It will have long term benefits which will improve the performance of the project. References Azim, N., et.al, 2016. People Factors in Agile Software Development and Project Management.International Journal of Emerging Technology in Computer Science Electronics (IJETCSE) ISSN, 0976-1353. Banihashemi, S., Hosseini, M.R., Golizadeh, H. and Sankaran, S., 2017. Critical success factors (CSFs) for integration of sustainability into construction project management practices in developing countries. International Journal of Project Management. Bresnen, M. (2016). Institutional development, divergence and change in the discipline of project management.International journal of project management,34(2), 328-338. Glaiel, F.S., Moulton, A. and Madnick, S.E., 2014. Agile project dynamics: A system dynamics investigation of agile software development methods. Gollenia, L.A., 2016. Business Transformation Management Methodology. Routledge. Heagney, J., 2016. Fundamentals of project management. AMACOM Div American Mgmt Assn. Heagney, J., 2016. Fundamentals of project management. AMACOM Div American Mgmt Assn. Konstantinou, E. and Mller, R., 2016. The role of philosophy in project management. Project Management Journal, 47(3), pp.3-11 Leach, L.P., 2014. Critical chain project management. Artech House Moniruzzaman, A.B.M. and Hossain, D.S.A., 2013. Comparative study on agile software development methodologies. arXiv preprint arXiv:1307.3356. Morley, C., 2016. Management d'un projet systme d'Information-8e d.: Principes, techniques, mise en oeuvre et outils. Dunod. Nelson, R.R. and Morris, M.G., 2014. IT Project Estimation: Contemporary Practices and Management Guidelines. MIS Quarterly Executive, 13(1). Rahmanian, M., 2014. A comparative study on hybrid IT project management. International Journal of Computer and Information Technology, 3(05), pp.1096-1099. Turner, R., 2016. Gower handbook of project management. Routledge. Walker, A., 2015. Project management in construction. John Wiley Sons.