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Competing in a global context World (The foreign exchange market (Currency…
Competing in a global context
The foreign exchange market
Demand pounds
Supply pounds
Equilibrium currency markets
Shifts in demand
Shifts in supply
Changes in supply
McBurger Index
Currency
‘strong’
‘weak’
Exchange rate fluctuations
Main problems SMEs
Transfer pricing
Main obstacles
Unitary taxation
Path dependency
Vested interests
Technical issues
Multinational group
Trade
‘arm’s-length’ approach
Trade mispricing
Illegal or abusive
Cultural cannibalism
‘Glocalisation’ = Adaptation
Economy in real time
Development ICT & Social networks
Global players
English
Spanish
Chinese
52 Languages
The balance of payments
Economic & financial flows
The financial account
The capital account
The current account
Imports & Exports
Goods
Services
Money
International marketing
Macro environment
Micro environment
Triggers international expansion
Globalisation versus customisation
‘think globally, act locally’
Modes of entry
Branding
Ethical issues
CSR
Trade environment
Competition among business organisations
'Five forces model’
Porter 1980
Competition and trade among countries
Theory of comparative advantage
Relative
Ricardo 1819
‘Diamond model’
Porter 1990
Absolute
Smith 1776
Legal & institutional framework
WTO
Financial regulation
Predecessor
IASC - 1973
The Board
IASB - 2001
Standards
IFRS - 2001
Framework financial reporting
IAS Standard
IFRS Standard
IFRS SMEs Standard
Mission
Transparency
Accountability
Efficiency
Supported by
G20
IMF
World Bank
IOSCO
IFAC
European Parliament & Council
Objectives financial reporting
Recognised asets
Liabilities
Equity
Income
Expenses
Changes in equity
Cash flows
Globalization & Nutrition transition
Interacting processes
Policy issues
Convergence
Divergence
Crossvergence
Main stakeholders
Sustainable cities
Autonomy
Participation
Sharing
Transformation
Are cities the new countries?
