Green light from a White Paper
Article Abstract:
The UK government has just completed its second White Paper tackling the issue of global competitiveness. This document is part of the government's efforts to aid British business to succeed in the international marketplace. It is the result of the increasing recognition that good management alone cannot offer sufficient competitive advantage. In addition to a sound management team, innovation, efficiency and a trained workforce, international business organizations require an economically stable climate, the freedom to expand and develop, adequate infrastructure, and access to finance and relevant information. The government has an important role to play in ensuring that these business requirements are met. The British government has already made significant progress in this direction. After succeeding in boosting exports and reducing inflation and unemployment, the new White Paper shows that it has now turned its attention to workforce education and training.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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Painting a worldwide picture
Article Abstract:
UK chemicals giant ICI is pursuing a global expansion strategy in view of impending overcapacity in traditional markets and the unsustainability of cost-cutting programs. The company is aware that profitability in the chemical industry lies outside the UK and that it has no choice but to go where the customers are if it is to remain profitable. At the moment, the fastest growing markets are in Latin America and the Asia Pacific. To strengthen it presence in Latin America, ICI recently acquired the region's largest paint company Bunge. This move effectively propelled it to the top of the Latin American decorative paints market. ICI, however, will not invest in just any market because of the risks associated with politically and economically unstable developing countries. It has taken a wait-and-see attitude with regards to China although the country is expected to become a dominant force in the global chemical market in the future.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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Once you leave England ... the UK financial manager will find that language is just one of the difficulties. The law, customs and practices will also pose problems
Article Abstract:
Running foreign divisions is difficult, especially for smaller enterprises who cannot afford the extensive networks of the larger multinational companies. The first problem is language, and often British companies will hire a poor manager who speaks English well over a good manager who does not. There are also cultural differences and different attitudes towards business that need to be addressed. The foreign country's regulations for export-import trade, accounting and auditing and particularly taxation also must be considered. The key is communication and the good financial manager will find innovative ways to bridge any gaps that might occur.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1986
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