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THEMES AND CONCEPTS: Competing In A Global Context B207: Reading Block 2 …
THEMES AND CONCEPTS: Competing In A Global Context
B207: Reading Block 2
Reading 2: Global Trade Environment
Greater openness of trade
Global rules if trade between trades & nations
WTO:
World Trade Organization
FIVE FORCES MODEL
Buyers
Potential entrants
Substitutes
Industry Competitors
Suppliers
DIAMOND MODEL
Related and Supporting Industries
Factor Conditions
Demands Conditions
Structure of firms and Rivalry
THEORY'S: Competition & trade among countries
Absolute comparative advantage
Relative comparative advantage
Comparative advantage
Reading 14: Zonal Retail Data Systems
Focus on customer retention
Linking tills to all parts of the business
Itemising products
Loyalty system
Kitchen
Finance department
Head office
Engineers & accounts manager
Employees
Convergence
Adopting global practises and standards of a country
Divergence
Using national culture in shaping the values and beliefs in management within a country
Crossvergence
Empowerment, influence and not be influenced, create and re-create by organisations within the industry.
Reading 9: Why Jurisdictions Have Different Rules
OBJECT OF FINANCIAL REPORTING: IASB (International Accounting Standards Board )
Changes in equity
Income
Cash flow
Equity
financial statements
Liabilities
Providing resource
Decision making
Expenses
THE CONTINGENT MODEL
State of equilibrium
Financial scandal/significant economic change
Search for consensus as to how to remedy the problem
New regulation
State of equilibrium
Unintended consequences
MEANS OF REGULATIONS
Anglo-Saxon: Common law model
Roman law model
Reading 10: Mission of the IFRS Foundation & the IASB
IFRS
Recognised as assets/liabilities, income & exspense
International financial reporting standards
Brings transpanency
Enhancing international comparability
Brings accountablility
Efficencey
Not for profit public interest organisation
IASB Vision
To have a single set of global accounting standards