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The Role of expatriation in MNC International Assignments

This assignment examines the role of expatriate staff in the success of a multinational corporation (MNC) reviewing literature on international human resource management, knowledge transfer, the benefits of employing expatriates for international assignments and cross cultural training. The literature stipulates that having experienced international staff is a principle source of competitive advantage for a multinational Read More

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Transactional Cost Economics

In order to reflect upon Oliver Williamson’s framework of Transaction Cost Economics (TCE), it is important, if not essential, to consider Ronald Coase’s contribution to it. Coase argued that given absence of transaction costs, efficiency could be achieved under any number of ‘institutional arrangements. ‘ He says that the choice between each alternative institutional arrangement, Read More

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An argument against optimum currency areas

According to the theory first developed by Mundell (1961)[1] in order to be optimal, a currency area must be highly economically integrated, in that there is a free and substantial movement of goods and services, capital and labour. This would eliminate speculation and mean a great benefit from the elimination of transaction costs and uncertainty Read More

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The Virtuous Circle

This paper will focus on how the inputs and linkages between each key phase of the American t-shirt would change if produced in a true free trade market. The value chain can be categorized into the following key phases: raw materials (Cotton Farmers), work-in-progress or WIP (Apparel Manufacturers), and finished goods (T-Shirt Retailers). These inputs Read More

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Economy – India and China

Transition from a command economy to a market economy would mean a complete remodeling of a country’s economic aims and procedures. The command economy, being centrally planned, involves a lot of government involvement in its plans and all major economic decisions are made by the government, maximizing social welfare being the sole purpose. In such Read More

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Balance of Payments

Like many definitions , this one requiers clarification , especially with respect to the coverage and valuation of economic transactions and the criteria for determinig residency . The coverage of economic transactions refers to both commercial trade dealings and noncomercial transfers , which may or may not be effected through the forigen markets and which Read More

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Why the UK government regulates firms and markets

The western world is often viewed as one built on the ideal economic principle of a free market, this is one where supply and demand, rather then any influencing force, dictates the success of those participating companies within it. The reality within the UK economy is not one of complete free competition but is in Read More