Category: Economy

Ethics empowers business

Businesses cannot just concentrate on earning more and more through any means and tactics. They are responsible to the communities and the environment in which they operate. This is corporate social responsibility (CSR). Ethics of doing business responsibly is integrated into CSR in one way or the other. A community, a business or a group…

Creating value in goods gives sustainability to business

Designing and implementing appropriate strategies are fundamentals for a business to make profits and maintain sustainability. Strategies are planned actions to achieve goals. Differentiation strategies result in more value creation in a product, which means the consumers are willing to pay more for the product than its actual cost. This essentially increases profits. A firm…

Exporting: First step towards getting international customers

Venturing into foreign markets requires details inquiries on ground scenario and based on the circumstances prevailing, a company must make choice from different modes of entry – exporting, importing, turnkey projects, licensing, franchising or foreign direct investment in the form of joint ventures or wholly owned subsidiary. Each of these modes has advantages and disadvantages…

Australian banks and financial uncertainties

Australian banking industry is the least affected financial sector by Global Financial Crisis (GFC). It is strong, profitable and sophisticated. The financial sector in Australia is the largest contributor to the national economy. It contributed 11 per cent or $135 billion of real gross value to the national output in 2010 (Australian Bureau of Statistics,…

Culture reflects how well you can do business

Politics is the major factor that spoils economic environment, beside natural disasters and calamities. Lets forget about the cracks within the economic theories whose implementation results catastrophic such as ‘Efficient Market Hypothesis’ nearly collapsed US economy in 2007-08. In recent days, I feel myself more interested to the cultural impact on doing business. Reinforcement by…

Challenges of Bhutan’s graduation from LDC

In December, with recommendations from the Committee for Development Policy (CPD), United Nations Developed Program (UNDP) at the Twelfth Round Table Meeting (RTM) in Thimphu declared, Bhutan would be graduated to be a developed country by 2021, which means Bhutan will have by then its all capability to sustain as a self reliant economy. For…

More than a week after the leadership spill in Australian labour, the new Rudd government has not shown any indications whether the federal elections will be held on the date announced by Gillard government. There are several speculations about possible changes in dates: some argue early polls might be favourable for Rudd to get more…