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The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities…
Abstract
The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.
Government, business support organisations (BSOs), support services and client business firms constitute the key actors involved in the business–government interaction within…
Abstract
Government, business support organisations (BSOs), support services and client business firms constitute the key actors involved in the business–government interaction within commercial diplomacy. While businesses are interested in support in their international operations, commercial diplomats (CDs) work towards both objectives: supporting individual firms and promoting the home country's national economy in general. BSOs, public or private or mixed such as bilateral chambers of commerce, sector associations, investment promotion agencies and other self-help business organisations, complete the CD's offer, and are often referred to, and participate directly and indirectly in the home country's trade promotion effort.
The nature of the CD's service to beneficiaries is highly people based, and contains both a consistent amount of government instruction and CD's own personal judgment and initiative in promoting various sectors/sub-sectors and spotting business opportunities. The ‘intermediary’ function of the CD between the beneficiary business and its potential future business partner is important. The interaction may start on either side: the business firm may approach the CD or vice versa. To a large extent, export issues remain the most important enquiries from business to CD vs. other issues such as foreign direct investment, joint venture and debt issues.
From a business perspective the main advantages to use the CD's service are threefold. The CD appears to business firms as the central platform, the starting point to promote bilateral business. Second, CDs enjoy trust as an institution: they are considered credible and neutral (credibility and neutrality). Last but not the least, CDs are found useful in helping out firms in their first steps in foreign markets (not necessarily first exporters but for the firms to which the host country market only is new). The transaction between CD and beneficiary business firm has a material price: some services such as market research are for fee and are often subcontracted. Others being part of a ‘basic service’ of diplomats are free of charge.
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The development of banking in Africa followed the demand of exchange networks from traditional indigenous economies to colonial exchange with the European world. The establishment…
Abstract
The development of banking in Africa followed the demand of exchange networks from traditional indigenous economies to colonial exchange with the European world. The establishment of European banking institutions reflected the needs of the capitalist economy introduced by colonialism. The banking management of late nineteenth century and early twentieth century European banks adhered to the interests of shareholders. This chapter shows the emergence of well-managed banks in Africa, but after decolonization the political economy of African independence resulted in state capturing of financial institutions in most African countries. The South African banking system developed in close adherence to the British model. State-owned post-independence banks in Africa failed to deliver the development envisaged. The chapter shows the adverse impact of global economic developments on Africa, resulting in high debt levels. Structural adjustment of African economies and new market-oriented policies allowed the development of locally owned private banking institutions. The high-cost structure of the formal banking system from the dominant South African banks incentivised the mobile money innovation, an arena where African entrepreneurs lead global markets. Financial inclusion remains low in Africa.
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These structural, economic and political developments in the global economy go a long way to explaining the expansion of commercial diplomacy activities by nations. On the one…
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These structural, economic and political developments in the global economy go a long way to explaining the expansion of commercial diplomacy activities by nations. On the one hand, nations use commercial diplomacy to expand trade and investment in the context of declining economic policy sovereignty. The creation of the WTO in 1995 led to an extension of the rules and regulations of international trade and trade-related matters (including the financial services industry). This leaves national economic policy-making severely restricted. Expanding commercial diplomacy to secure new export markets and new inward investments becomes a necessary political tool for nations competing for new markets. When these new markets are in nations where the formal institutional context for doing business is underdeveloped or non-existent or where much of the economy is under state control, the need to expand and develop commercial diplomacy is all the more important.
In this study I explore how practices and creativity in the commercial context conceptualize death in the changing styles of funerals by depicting the supply of contemporary…
Abstract
In this study I explore how practices and creativity in the commercial context conceptualize death in the changing styles of funerals by depicting the supply of contemporary funeral services. The cases are primarily based on ethnographic accounts derived from my fieldwork in Japanese funeral homes. I focus on the work and efforts of the funeral industry that make innovative services to shape and shift a set of cultural values and practices in the funerals of today.
The legal devices crafted within large organizations are a key component of legal endogeneity theory (LET). While symbolically complying with legislation, legal devices allow…
Abstract
The legal devices crafted within large organizations are a key component of legal endogeneity theory (LET). While symbolically complying with legislation, legal devices allow organizations to infuse managerial logics into the legal field, which eventually diverts law from its initial political goals. Although the LET has considered legal devices such as anti-discrimination guidelines and grievance procedures, this chapter argues that contracts also constitute a locus of symbolic compliance and contribute to the eventual endogenization of regulation. Supplementing LET with a focus on legal intermediation, this chapter explores how contracts are crafted and used by large organizations to respond to regulatory pressure. While other legal instruments are unambiguously managerialized from the outset, contracts are highly versatile legal objects that perform the seemingly opposite functions of symbolically complying with regulation and serving substantive commercial purposes. This discussion of the role of contracts as compliance mechanisms is based on an in-depth empirical study of the French retail industry and its response to a set of regulations that aimed at making their business practices fairer.
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With significant changes in the aviation industry, various airport–airline arrangements have been formed to achieve alternative objectives. However, no consensus has been reached…
Abstract
With significant changes in the aviation industry, various airport–airline arrangements have been formed to achieve alternative objectives. However, no consensus has been reached on such arrangements’ economic effects and the associated optimal public policy. This chapter aims to provide an interpretive review of the common types of airport–airline arrangements, the different modeling approaches used and key conclusions reached by recent studies. Our review suggests that airport–airline arrangements can take diverse forms and have been widely used in the industry. They may allow the airport and its airlines to internalize demand externality, increase traffic volume, reduce airport investment risks and costs, promote capacity investment, enhance service quality, or simply are a response to the competition from other airport–airline chains. On the other hand, such vertical arrangements, especially for those exclusively between airports and selected airlines, could lead to collusive outcomes at the expenses of non-participating organizations. The effects of such arrangements are also significantly influenced by the contract type, market structure and bargaining power between the airport and airline sectors. While case by case investigations are often needed for important economic decisions, we recommend policy-makers to promote competition in the airline and airport segments whenever possible, and demand more transparency or regulatory reporting of such arrangements. Policy debates and economic studies should be carried out first, before intrusive regulations are introduced.
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David Denmark and Nick Stevens
This chapter presents a review of community transport in Australia with the aim of providing material for comparative research in flexible transport.
Abstract
Purpose
This chapter presents a review of community transport in Australia with the aim of providing material for comparative research in flexible transport.
Design/methodology/approach
Research on Australian community transport has been brought together to present an analysis of the key features of the industry: history; geography; funding; regulation and the use of volunteers.
Findings
Each key feature has led to the current strong state/territory basis for service organisation and delivery, despite the federal responsibility for supplying most of the funding and ensuring equity and standards. Varying approaches to regulation and supply have also been driven by remoteness and the prevalence of large pockets of entrenched social disadvantage in some regions.
Originality/value
The chapter summarises research findings including hitherto unpublished research on an application of flexible transport services outside mainstream public transport operations in Australia.
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The global economic power shift towards the East has caused the governments of developed economies to support national businesses which are involved in the process of…
Abstract
The global economic power shift towards the East has caused the governments of developed economies to support national businesses which are involved in the process of internationalizing and expanding across borders. Commercial diplomacy provides a means for governments to increase their international trade and to stimulate their national economies. Foreign posts play a crucial role in offering effective diplomatic support for international business. But what are the factors that can explain commercial diplomacy effectiveness at the foreign post level? This chapter presents the results of a survey that was conducted among commercial diplomats stationed at foreign posts. It appears that the amount of experience that commercial diplomats acquired at these foreign posts, combined with their established business network, form two of the most important factors which have a positive impact on the quality of commercial diplomacy. This extends further to include the importance of the client (business) preparedness in terms of knowledge and skills as well. Furthermore, the results indicate that the less favourable a cognitive institutional environment in a host country is, for instance in terms of information availability, the more relevance commercial diplomacy will have. The results of this study promote the understanding of how commercial diplomacy works and show how the debate on the future of commercial diplomacy can be taken a step further. This study should also be seen as a starting point for a holistic framework of commercial diplomacy effectiveness.
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