Doing business in India

On its independence in 1947, India was among the two most industrialized nations in Asia. Since then it adopted a “mixed economy” approach that hindered its national growth and the optimum utilization of its immense resources (both natural and human). To re-establish itself as an economic force in the region, India liberalized its economy in early 1990s. The adoption of the “free market economy” model has created great opportunities for foreign businesses. This article provides useful information on the complex business environment, aimed to help foreign businessmen and investors to develop a good understanding on key background knowledge for being successful in India. It reviews Indian historical development, political structure and climate, international relations, and economy and foreign trade. India's infrastructure, legal framework, socio-cultural set-up, competitive environment, as well as market structure and potential are also analyzed. © 2001 John Wiley & Sons, Inc.

Doing business in... Indonesia

Indonesia's long stability of over three decades came to a sudden end after the regional economic crisis of 1997–1998. The economic crisis not only shattered the Indonesian economy but also resulted in political turmoil. The national leadership has changed three times over the last five years. In such conditions, the confidence of foreign investors is very low. The present government has initiated a number of steps to restore political stability and economic recovery. This article provides useful information on the complex business environment, aimed to help foreign investors to develop a good understanding on key background knowledge for being successful in Indonesia. It reviews Indonesian historical development, political structure and climate, regional relations, and economy and foreign trade. Indonesia's infrastructure, legal framework, sociocultural setup, as well as market structure and potential, are also analyzed.

Personal privacy as a positive experience of shopping:an illustration through the case of online grocery shopping

Purpose - This paper aims to demonstrate the need for an improved understanding of the opportunities offered by privacy online. This is contextualized in the case of supermarket purchases of food in particular, often described as an intimate and personal choice. In the case of grocery shopping, the "intimacy" may be at the household level between members or/and between e-grocers' food offerings, and their other "non-food" related services Design/methodology/approach - This paper draws upon social practice theory research, retailing and consumer behaviour in order to develop a conceptual framework for understanding the value of positive privacy. The research uses 39 in-depth interviews of e-grocery shoppers in the area of Portsmouth (UK). Findings - This paper suggests a framework for embedded elements of positive privacy into retailing strategy as a driver for growth in the e-grocery sector. Three meta-themes requiring different approaches to privacy are uncovered. Positive privacy is dynamic and contextual at the consumer/household levels as well as for product/e-grocery brands. Research limitations/implications - This paper advocates the building of long-term sustainable relationship through sharing, offering, and exchange of information rather than pure technological chasing of data. Originality/value - A consumer centred bottom-up approach is employed demonstrating the value of two-way dialogues with consumers on sensitive issues. E-grocery is used as an illustration that involves regular re-purchase of a basket of staple goods over a long period of time where privacy becomes a latent long-term concern. © Emerald Group Publishing Limited.

Constructing an 'efficient frontier' of accounting journal quality

This paper reports the construction of an 'efficient frontier' of the perceived quality attributes of academic accounting journals. The analysis is based on perception data from two web-based surveys of Australasian and British academics. The research reported here contributes to the existing literature by augmenting the commonly supported single dimension of quality with an additional measure indicating the variation of perceptions of journal quality. The result of combining these factors is depicted diagrammatically in a manner that reflects the risk and return trade-off as conceptualised in the capital market model of an efficient frontier of investment opportunities. This conceptualisation of a 'market' for accounting research provides a context in which to highlight the complex issues facing academics in their roles as editors, researchers and authors. The analysis indicates that the perceptions of the so-called 'elite' US accounting journals have become unsettled particularly in Australasia, showing high levels of variability in perceived quality, while other traditionally highly ranked journals (ABR, AOS, CAR) have a more 'efficient' combination of high-quality ranking and lower dispersion of perceptions. The implications of these results for accounting academics in the context of what is often seen as a market for accounting research are discussed. © 2006 Elsevier Ltd. All rights reserved.

The control of technological change in the motor industry:a case study

This thesis is based upon a case study of the introduction of automated production technologies at the Longbridge plant of British Leyland in the period 1978 to 1980.The investment in automation was part of an overall programme of modernization to manufacture the new 'Mini Metro' model. In the first Section of the thesis, the different theoretical perspectives on technological change are discussed. Particular emphasis is placed upon the social role of management as the primary controllers of technological change. Their actions are seen to be oriented towards the overall strategy of the firm, integrating the firm's competitive strategy with production methods and techniques.This analysis is grounded in an examination of British Leyland's strategies during the 1970s.. The greater part of the thesis deals with the efforts made by management to secure their strategic objectives in the process of technological change against the conflicting claims of their work-force. Examination of these efforts is linked to the development of industrial relations conflict at Longbridge and in British Leyland as a whole.Emphasis is placed upon the struggle between management in pursuit of their version of efficiency and the trade unions in defence of job controls and demarcations. The thesis concludes that the process of technological change in the motor industry is controlled by social forces,with the introduction of new technologies being closely intertwined with management!s political relations with the trade unions.

Consumer price knowledge in the market for apparel

Purpose – The aim of this study is to analyze consumers' price knowledge in the market for apparels. Design/methodology/approach – After reviewing earlier attempts at assessing the construct, the price estimation error “PEE” was used, a measure based on explicit price knowledge stored in long-term memory, as a valid indicator of price knowledge. Findings – The results, including data from about 1,527 consumers on 66 products from the German apparel market, indicate that price knowledge is relatively low. Originality/value – Although, in the literature, there are several studies on price knowledge in the food industry, little is known about price knowledge in other industry sectors. This is quite surprising since pricing strategy is a concept which is vitally important to all retailers. Therefore, this study is a first contribution to extending the concept of behavioral pricing to the apparel market.

Minimizing nasty surprises with better informed decision-making in self-adaptive systems

Designers of self-adaptive systems often formulate adaptive design decisions, making unrealistic or myopic assumptions about the system's requirements and environment. The decisions taken during this formulation are crucial for satisfying requirements. In environments which are characterized by uncertainty and dynamism, deviation from these assumptions is the norm and may trigger 'surprises'. Our method allows designers to make explicit links between the possible emergence of surprises, risks and design trade-offs. The method can be used to explore the design decisions for self-adaptive systems and choose among decisions that better fulfil (or rather partially fulfil) non-functional requirements and address their trade-offs. The analysis can also provide designers with valuable input for refining the adaptation decisions to balance, for example, resilience (i.e. Satisfiability of non-functional requirements and their trade-offs) and stability (i.e. Minimizing the frequency of adaptation). The objective is to provide designers of self adaptive systems with a basis for multi-dimensional what-if analysis to revise and improve the understanding of the environment and its effect on non-functional requirements and thereafter decision-making. We have applied the method to a wireless sensor network for flood prediction. The application shows that the method gives rise to questions that were not explicitly asked before at design-time and assists designers in the process of risk-aware, what-if and trade-off analysis.

Explaining turn of the year order flow imbalance

The paper provides evidence of a turn of the year effect in the order flow imbalance of both retail and institutional investors. In December there is net selling pressure which is reversed in January. We examine high frequency intraday order flow information and find that the changes in order flow imbalance between December and January are related to firm risk factors and characteristics. We find that retail order flow imbalances are associated with a wide range of risk characteristics including beta, illiquidity and unsystematic risk. Imbalances in institutional order flow are associated with only a small number of risk variables. We show that these order flow changes are important because risk premiums are elevated in January. Our results are robust to the effects of decimalization.

Using discrete event simulation to investigate road delivery policies to UK retailers

Retail customers provide a number of significant challenges to the efficiency and effectiveness of distribution systems. These challengers include shorter delivery windows, fluctuating volumes and a wider product mix. This paper demonstrates the use of discrete-event simulation to investigate policy issues regarding the incorporation of retail customers in a road delivery network from the spoke terminal of a hub and spoke distribution system. In particular a comparison of a mixed (retail and non-retail) delivery policy with a dedicated retail delivery run is made.

Fontosság-teljesítmény illeszkedés a termelési stratégiában és hatása az üzleti teljesítményre – dinamikus megközelítés

A cikk célja a termelési stratégia dinamikájának vizsgálata a termelési versenytényezők fontosság-teljesítmény illeszkedése szempontjából. Az empirikus elemzéshez két nemzetközi adatbázist használtunk fel. Eredményeink alapján a magas szintű üzleti teljesítmény elérése érdekében a vállalatoknak agilis stratégiát kell kialakítaniuk, és gyorsan kell reagálniuk a vevői igények változására. A versenytényezők fontosságának és teljesítményének megfelelő illeszkedésére törekvő vállalatok nagyobb valószínűséggel érnek el jobb üzleti teljesítményt. A fontosság-teljesítmény illeszkedés javításának longitudinális elemzése támogatja mind az egymásra épülő képességek, mind pedig az átváltások elméletét, azaz összességében az integrált modellt. _________ This paper aims to explore the dynamics of manufacturing strategy from the perspective of the importance-performance fit of manufacturing competitive factors. For the empirical research two different international databases are used. Results of our study suggest that in order to reach high business performance, manufacturing companies need to develop agile strategies and react quickly to changes in customer preferences. Companies aiming to maintain a proper importance-performance fit of competitive factors are more likely to reach higher business performances. The longitudinal analysis of importance-performance fit improvement provides support for both the cumulative capabilities and the trade-off theory, i.e. the integrative model.

A társadalmi felelősségvállalás vállalati on-line kommunikációjának kritikai elemzése (Critical Analysis of Online CSR Communication in Hungary)

A vállalatok társadalmi felelősségvállalásával (CSR) kapcsolatos alapelvek, kezdeményezések és tevékenységek kommunikációja a vállalati kommunikáció egyik sarkalatos pontjává vált szinte az egész világon. A cégek CSR-kezdeményezéseik bemutatásához egyre többször az internetet is igénybe veszik. Az on-line média használatával párhuzamosan az elmúlt évtizedben egyre többen kutatják a CSR-kommunikáció elektronikus formáit, jóllehet ezek a kutatások többnyire leíró jellegűek, és a CSR-kommunikáció, valamint egyes vállalati jellemzők (méret, iparág és más magyarázó változók) között keresnek kapcsolatot. A szerzők e cikkben a társadalmi felelősségvállalással foglalkozó vállalati weboldalakat kritikai szemüvegen keresztül vizsgálják. Céljuk, hogy feltárják az on-line kommunikációt jellemző belső ellentmondásokat és a vallott és követett értékek közötti különbségeket. _______ Communicating corporate social responsibility (CSR) principles, initiatives, and activities has become a common practice of companies all around the world. It is quite apparent that firms use internet more and more often to communicate their CSR initiatives to their stakeholders. Parallel with the extensive use of the online media, more and more research has been elaborated on the field of online CSR communication in the last decade as well. However, these studies usually have a strong descriptive focus trying to reveal connections between the intensity of online communication of CSR values and activities, and company size, industrial background, and other explanatory variables. In contrast, the authors analysed corporate web pages dedicated to CSR through critical lenses. Their research was designed to explore any dissonances and contradictions within online communication and between communication and real activities of firms from construction, retail, and telecommunication industries in Hungary.

Facets of operational performance in an emergency room (ER)

This paper, using detailed time measurements of patients complemented by interviews with hospital management and staff, examines three facets of an emergency room's (ER) operational performance: (1) effectiveness of the triage system in rationing patient treatment; (2) factors influencing ER's operational performance in general and the trade-offs in flow times, inventory levels (that is the number of patients waiting in the system), and resource utilization; (3) the impacts of potential process and staffing changes to improve the ER's performance. Specifically, the paper discusses four proposals for streamlining the patient flow: establishing designated tracks (fast track, diagnostic track), creating a holding area for certain type of patients, introducing a protocol that would reduce the load on physicians by allowing a registered nurse to order testing and treatment for some patients, and potentially and in the longer term, moving from non-ER specialist physicians to ER specialists. The paper's findings are based on analyzing the paths and flow times of close to two thousand patients in the emergency room of the Medical Center of Leeuwarden (MCL), The Netherlands. Using exploratory data analysis the paper presents generalizable findings about the impacts of various factors on ER's lead-time performance and shows how the proposals fit with well-documented process improvement theories. © 2010 Elsevier B.V. All rights reserved.

The effect of the business cycle on the performance of socially responsible equity mutual funds

The current study applies a two-state switching regression model to examine the behavior of a hypothetical portfolio of ten socially responsible (SRI) equity mutual funds during the expansion and contraction phases of US business cycles between April 1991 and June 2009, based on the Carhart four-factor model, using monthly data. The model identified a business cycle effect on the performance of SRI equity mutual funds. Fund returns were less volatile during expansion/peaks than during contraction/troughs, as indicated by the standard deviation of returns. During contraction/troughs, fund excess returns were explained by the differential in returns between small and large companies, the difference between the returns on stocks trading at high and low Book-to-Market Value, the market excess return over the risk-free rate, and fund objective. During contraction/troughs, smaller companies offered higher returns than larger companies (ci = 0.26, p = 0.01), undervalued stocks out-performed high growth stocks (h i = 0.39, p <0.0001), and funds with growth objectives out-performed funds with other objectives (oi = 0.01, p = 0.02). The hypothetical SRI portfolio was less risky than the market (bi = 0.74, p <0.0001). During expansion/peaks, fund excess returns were explained by the market excess return over the risk-free rate, and fund objective. Funds with other objectives, such as balanced funds and income funds out-performed funds with growth objectives (oi = −0.01, p = 0.03). The hypothetical SRI portfolio exhibited similar risk as the market (bi = 0.93, p <0.0001). The SRI investor adds a third criterion to the risk and return trade-off of traditional portfolio theory. This constraint is social performance. The research suggests that managers of SRI equity mutual funds may diminish value by using social and ethical criteria to select stocks, but add value by superior stock selection. The result is that the performance of SRI mutual funds is very similar to that of the market. There was no difference in the value added among secular SRI, religious SRI, and vice screens.

China's Building of a Blue-Water Fleet

In recent years the People’s Republic of China has begun to exhibit a more aggressive naval policy as a result of its decision to switch its naval force from a primarily green-water fleet (coastal) to a blue-water fleet (expeditionary) (“China’s New,” n.d.). This decision has brought China to loggerheads not only with other local East and South Asian powers such as India and Japan, but also with the predominant blue-water power of the world, the United States, that sees its supremacy threatened (“When Grand,” n.d.). Why would China embark on a route that would pit it against the world naval superpower, the United States, which has a huge lead on China in terms of naval blue-water power? Why would China try to challenge and match the U.S. Navy’s eleven aircraft carriers (“The World’s,” n.d.)? What could compel China to embark on a plan that would so disrupt the balance of power in the waters around Asia? To fully understand the Chinese government’s decision, one must first look at Chinese import figures and Chinese trade routes.

Mecanismos de transmissão de preços e parcelas de mercado: uma análise sobre as exportações brasileiras de manga

Climate and environmental conditions allowed Brazil to become one of the largest producers of tropical fruits in the world. The São Francisco Valley, over the years, has emerged as the main fruit-producing region of the country, especially mangos and grapes. The mango, which is produced in this region, has reached a good international position, especially in European and American markets. However, the domestic price has absorbed more and more the impact of fluctuations in the international market expectations affecting the production and marketing of producers. The objective of the study is to analyze the transmission ratio of export prices of the mango, with the American market prices and the European Union in the period from 2003 to 2013. It is intended also to analyze the factors affecting the fluctuations of exports Brazilian mango for the main import markets. To achieve the proposed objectives, we used, in the methodology, the autoregressive vector model, in order to find the price transmission mechanism and the mechanisms of impacts through the impulse response function. We also used, the Constant Market Share model, in order to observe the importance of the effects competitiveness, destination, and growth in world trade on the changes of Brazilian mango exports in the period. The data used were obtained from the database of the Ministry of Development and Foreign Trade - MIDIC and FAOSTAT (Food and Agriculture Organization of the United Nations). Among the results, it was found that the Brazilian domestic prices are influenced by the US market price, and that price shocks promoted this market can impact on the growth of the internal prices for several months. It was noted also that the competitiveness effect accounted for the largest portion of the effective growth of Brazilian exports, in other word, the country has improved its competitiveness among the other exporting countries.