North Carolina as a colony

North Carolina is one of the thirteen colonies established by England around 1650. The  territory was called Carolina in honor of Charles the First.  Queen Elizabeth I of England granted Sir Walter Raleigh a charter for the establishment of a  settlement in North America. Sir Raleigh and the Queen planned to establish a colony to be able to  explore for treasures and to scout for a strategic location where they can raid loaded Spanish ships. Based on these reasons, an expedition was sent in 1584 to explore for a suitable location and also  bring samples of the nature’s bounty on the area. After the successful exploration, the group  returned to England. In 1585, the first group of colonists was organized and they arrived at the north  end of the Roanoke Island. Ralph Lane with seventy-five men was left in the island while Sir  Richard Grenville, leader of the expedition returned to England to get additional food supplies and  additional men. Friction with the natives occurred when the settlers attacked a village in response to  the stealing of a silver cup by the natives. By April 1586, relations with a neighboring tribe had  degraded to such a degree that they attacked an expedition led by Lane to explore the Roanoke River.1 There was still no sign of Grenville’s fleet and due to hardships encountered, the settlers  accepted the offer of Sir Francis Drake to return to England.  Ã‚  The second group was led by John White and they arrived in June 1587. White tried to  reestablish friendly relations with the neighboring natives. At first, the natives were hostile and  aloof. But gradually the English gained their confidence by offering glass beads and dolls as signs  of friendships (Hale 128). But the aggrieved tribes whom Ralph Lane attacked were still unfriendly  to the new colonists and shortly thereafter, one colonist was killed by these natives. Fearing for their  lives, White was elected to return to England to inform of their situation and ask for help.   Two  significant events occurred shortly after the colonists’ arrival: two â€Å"friendly† Indians were baptized  and a child was born. Virginia Dare, as the baby was named, became the first child bor n to English-  speaking parents in the new world.2 But White was delayed in coming back to the colony because  of the following reasons: the vessel was not in good condition to travel back home and in crossing  the Atlantic Ocean; the refusal of the captain to sail back to the colony during winter time and then  the war with the Spanish Armada was imminent   and all the able ships were tasked to fight. He was  able to return in the spring of 1590 and found only the remnants of what was once a settlement. There were no signs of life, only the word â€Å"CROATAN† carved on a nearby tree.3   The second  failure can be attributed by factors beyond the control of the settlers. Although Sir Raleigh was  given a charter to colonize, attention was focused on the war with Spain. Cole and Warren  concluded that, â€Å"because England was so completely involved in fighting the Spanish Armada in  1588, no supplies were sent, nor any communications maintained with the settlements†. (403) The  colonization might have been successful if the expedition was fully equipped with farm implements,  food supplies and able manpower who are trained to do hard work in cultivating the soil. They  should have establish friendly relations with the natives to preserve their lives as well as with the  natives’. The impact left by Ralph Lane and John White on the area was that they had spread Christianity and English language to the new world.   It is ironic that Stuart Monarch James I rather than the visionary Elizabeth succeeded in  finally planting the British flag on the American shores. (Garraty and Gay 663) In 1607, three  shiploads arrived at Jamestown sent out by the London Company of Virginia. Captain John Smith  imposed a semi-dictatorial attitude to his men to check their incompetence and lack of initiative. His  edict, â€Å"He who does not work shall not eat† (Cole and Warren 406) was effective that they soon  cultivated crops especially staple crops and tobacco. By 1610, more settlers arrived and by 1612,  there were exportation of tobacco to other places. Significant too were the introduction in 1619 of  representative government – important to the Englishmen who contemplated migration to the New  World – and the beginnings of Negro servitude – important despite its inhumanity, to the economic  future of North America.(Garraty and Gay 665) Reference List Cole, Fay-Cooper, and Harris Gaylord Warren. An Illustrated Outline of History of Mankind. Grolier Incorporated: New York, 1963. Garraty, John A., and Peter Gay. The Columbia History of the World. Harper and Row: New York, 1972. Hale, John R. Age of Exploration. Time-Life International: Nederland, 1974. â€Å"Historical Highlights of North Carolina †.The State Library of North Carolina. 3 April 2006. 14 Nov. 2006. â€Å"Roanoke Island†. Wikipedia: The Free Encyclopedia. 14 Nov. 2006. 15 Nov. 2006.

The feud between East and West Coast Hip Hop Culture.

The feud between East and West Coast Hip Hop Culture. Hip-Hop's Greatest RivalryHip-hop is a term recognized by many, but understood by few. To mainstream audiences today, the term has become a synonym for rap music; however, hip-hop in actuality is a relatively new cultural movement that "began amongst urban (primarily, but not entirely, African American) youth in New York [City]" ("Hip-Hop"). Soon after the birth of hip-hop in the mid 1970s, the cultural movement quickly spread throughout the United States and today has come to be known to the entire world. Hip-hop is constantly changing and although it has mainly appealed to the youth, its audience is continually growing. Hip-hop culture has four elements - graffiti art, breakdancing, DJing, and MCing/rapping (Ayazi-Hashjin 6,7). A main cause of the birth of hip-hop was the civil rights movement in the United States.Black consciousness and pride swept the streets among African Americans, especially those living in cities after the start of the civil rights movement.English: Photo of the front of 1520 Sedgwick Avenu...Prior to the birth of hip-hop, the Black Panthers were a powerful group, and The Nation of Islam was beginning to organize. Black culture was becoming better known through outlets such as magazines and jazz. As Black Americans were identifying with each other more and more, many other closely-knit black communities were forming, especially in New York City. An important consequence of this was the formation of gang culture (Ogg 23). In the 70s, street gangs became very popular among the Black American youth. Gangs became a way of representing Black pride for many. Young Black Americans looked to join gangs because of the kinship they could form with others who lived in a similar lifestyle. As the number of gangs grew, however, gang rivalry intensified to violence. The Bronx area of New York City in 1970s was thought of to be one of the...

Online Options for German Lessons for Beginners

Online Options for German Lessons for Beginners The German language is much easier to learn than you might have heard. With the right course structure, a little discipline, and some online tools or apps, you can master your first steps into the German language quickly. Heres how to get started. Set Realistic Goals Make sure to set a solid goal like e.g. I want to reach German level B1 by the end of September with 90  minutes of daily work and also consider booking an exam about six to eight weeks before your deadline (if you stay on track, of course). For more about what to expect from German exams,  take a look at our exam  series: How to pass an A1-ExamHow to pass an A2-ExamHow to pass a B1-Exam If You Want to Focus on Writing If you need help with your writing,  Lang-8  offers a service where you can  copy and paste a text for the communityusually native speakersto edit. In return, you just need to correct another members text, which will not take you long. And its all free. For a small monthly fee your text will be featured more prominently and get corrected faster but if time doesnt matter to you, the free option is sufficient.   If You Want to Focus on Pronunciation and Speaking Looking for a conversational partner is the very best way to hone your speaking skills.  While you can try to find a tandem partner, with whom you could arrange a free language exchange, its often simpler to just pay someone for this job. Sites like  Italki  and  Verbling are places where you might find someone suitable and affordable. Those dont necessarily have to instruct you, although that might be helpful. Thirty minutes of practice a day is ideal, but any amount will improve your skills rapidly. Basic German Concepts and Vocabulary Below youll find a number of resources on this site that are suitable for beginners. Grà ¼ÃƒÅ¸e: Common greetingsDas ABC: The German AlphabetAll About the German  Personal PronounsHow to Tell if a German Word is Masculine, Feminine, or NeuterLearning the German Verbs Haben  (to have) and  Sein  (to be)German verbs in the present tenseCommon adjectives and colors How to Stay on Track and Get Motivated Programs like  Memrise  and  Duolingo  can help you stay on track and make your vocabulary learning as efficient as possible. With Memrise, while you could use one of the ready-made courses, I strongly recommend that you create your own course. Keep the levels manageable  with approximately 25 words each.  Tip: If you are better at setting goals than you are at following through (and who isnt?), try the motivational platform  stickk.com.

Corporate Strategy Assignment Example | Topics and Well Written Essays - 1250 words

Corporate Strategy - Assignment Example While Alitalia, a two-third state-owned enterprise was beset with labour union problems and was almost teetering near bankruptcy with net losses of 519 mn in the close of 2003 (its auditors refusing to certify its results!) (Source:ICFAI), BA was also consistently making loss in the 1980's until an ambitious privatisation programe slowly changed its fortunes by the onset of the Gulf War. BA also suffered extreme negative publicity due to some failed campaigns against competitor Richard Branson's Virgin Atlantic, facing lawsuits worth 3 million (Soure:Wikipedia), not to mention trade union problems, strikes etc. which continue until this day. The scenario is far more encouraging today. British Airways despite some steady hurdles like high oil prices, and a strong pound, have maintained profits since privatisation and quite consistently, since 2002. Its net profit for March 2006 stands at 529 mn (Source:Hemscott). With the relentless pursuit on upgrade of fleet and service management, the loss-making Giant has transformed into a lean, mean machine. As for Alitalia, losses are down at 200 mn in 2006 amid continued shutdown fears. (Airwise) Turnaround roadmap Organisationally, both airlines have changed for the better. While the British Airways is a newly-revived private major, Alitalia also has reduced government stake from two-thirds to about 49% (Airwise). Over 23,000 jobs were slashed in the 1980's during BA's get lean mission (Wikipedia). As for Alitalia, its decision in Sept 2004 to cut down over 5000 jobs brought it to a standstill due to a more hostile labour union, although the management announced March 2006 that its cost-cutting measures were 80% over. Alitalia, in 2001 became member of Europe's conglomerate Sky Team Alliance, as is eventually bracing for a merger with Air France and KLM (wikipedia). BA has reinvented itself around localising itself in the Asian market, by launching in 1995 a subsidiary called British Asia Airways in Taiwan replacing its traditional Union tailfin for a Chinese character emblem. BA also launched a low-cost airline called Go in 1998, and is thus better prepared, organisationally, to lead itself into the future (wikipedia). Most corporate strategies swiftly achieve results after what is known as situation and SWOT analysis, and brainstorming for a solution. BA started conducting "scenario workshops" in Feb 1994 (Moyer, K). The task at hand was to capture current scenario so that future strategy could be planned. Over 40 interviews were conducted with senior managers, and then with academics, engineers and aircraft manufacturers on a host of topics from IT and air transport regulations. All this culminated into developing teams writing the "official future" of the airline. Simultaneously, data on passenger traffic, economic growth and aircraft

The Diamonds (authorJ. Sorie Conteh) Essay Example | Topics and Well Written Essays - 500 words

The Diamonds (authorJ. Sorie Conteh) - Essay Example Conteh first indicated the cabinet in which de Seve had kept the money and then proceeded to trace the thief back to the servants' quarters and to his very bed even indicating the side of it on which he had usually slept, information corroborated by his former bedmate. (Conteh, 33-90) The Divinity of the lieutenant-general devised another test of Conteh's abilities. Calling him into her drawing room, she asked Conteh to determine who had stolen money from a certain Diviner, one of the witnesses present. It was a trick question, however: she had taken the money herself. Conteh searched the room and announced that he did not believe a theft had occurred. She asked him to look again and he gave the same response as before but added, apparently rather coldly, that if there had been a theft it had been committed as a joke and in an innocent manner; his talent, he claimed, worked only when he tracked real criminals. (Conteh, 33-90) We can picture a long, solid line of matter from the object to the eye, an instrument designed specifically to filter such information. This sort of explanation can also be utilized to show how heat can be transferred, for example, from a candle flame to a hand.

Discuss and evaluate the various methods available for long term Essay

Discuss and evaluate the various methods available for long term investment appraisal - Essay Example 33). It is essential to conduct any investment proposal (long-term or short-term) appraisal in order to ensure funds invested would accrue maximum gains in future. Since financial resources tend to be limited (in majority of the cases), a business firm, instead of choosing several proposals, must evaluate and select only the ones that are most appropriate for investing purposes (Sullivan and Steven, 2003). Therefore, it can be assumed that there would be certain techniques followed specifically for appraising proposals for investment. In this context, the paper will now examine various methods available for long-term investment appraisal (capital budgeting). Investment appraisal comprises of analysing a firm’s financial plans, its investments, as well as predicting the firm’s expenditure in a certain proposed project (Levy, 2002). Long-term investment appraisal in small firms often takes into account the possibility of future growth, new enterprises, and a future move into a completely new arena (ibid). Factors for long-term investment appraisal are chosen keeping the requirements of company policymakers and stakeholders in mind, and focus on long-term and sustainable growth of the firm (as opposed to short-term profits). Various methods are used for long-term investment appraisal of a firm. These are: Net present value (NPV): This appraisal method calculates the cash flows (deficit or excess), once the customary obligations are completed (Khan, 1993). All forms of long-term or short-term investment appraisals aim at deriving a positive figure for the firm’s NPV. The process calculates the total cash flow of a firm (incoming and outgoing) at a certain specific time (t), at a discount rate (i) at that particular time, which translates to: t-funds invested initially, making NPV inversely proportional to discount rates (Pike and Neale, 2008, p. 123-124). Therefore, NPVs are reduced with rise in discount values (i), while high interest rates

Impact of Culture on International Business

Impact of Culture on International Business Doing business on the international plane presents many challenges because of a variety of factors which differ from one market to the other. These differences are basically informed by the environment of the host country, which is often times different from that at home. One of the environmental factors that present such a challenge is culture. Culture can be defined as complex construct that embodies a peoples knowledge, morals, art, beliefs, customs, laws and other capabilities gathered by a community over time (Clifton, 2004). The culture of the host country strongly impacts on the performance of a firm that engages in international business. Notable aspects of culture central to the conduct of international business include the social structure, religion, language and education. G4S, a company that has established itself in international business has had its fair share of challenges in this area. Social structure has to do with how society is socially organized. It could be looked at from the individual-group dimension, or from the social stratification dimension. Some societies consider an individual the pillar of social organization (Emerson, 2007). This is the scenario G4S encountered when it entered the American and most Western markets. The challenge here was how to instill a sense of teamwork among employees. It was an uphill task for managers who had been socialized to believe in the superiority of teamwork, as individuals compete against each other for results. On the Japanese market however, the firm found that emphasis was on group, rather than individual performance. Though this is said to be the driving force behind the companys success in Japan, it is vilified for imbedding creativity, and is touted as a stumbling block to dynamism. This, indeed, is a challenge the firm has had to deal with. Social stratification has to do with placing members of society in certain classes. There are those in the lower, middle and upper classes. Many times, this is borne out of ones family background, income or occupation. Those from the lower class only hope to move from that class to the upper one through a process called social mobility, which is in most cases done through education and job opportunities. When opportunities for mobility are suffocated, there is likely to be conflict between the classes; and in the job situation, between management and employees. Some societies have room for social mobility, while others do not. A country like Britain has less social mobility (Hill Jain, 2008, p. 66, 67). As a result, there is always simmering tension between management and workers, which the firm has had to deal with from time to time. When industrial disputes become frequent, the firm finds doing business in the country quite expensive. Such a problem is not common in America, where social mobility is easy. G4S operates in countries with various religious persuasions, which have an effect on its operations. In predominantly Christian (protestant) countries such as Britain, America and most of Africa, the spirit of entrepreneurship has helped expand the companys operations and profitability. Protestantism advocates for hard work and creation of wealth for Gods glory, but abstinence from worldly pleasures. Since the resources earned from working cannot be spend on leisurely pursuits, the only other option is to reinvest it in expanding the business (Hill Jain, 2008, p. 70). The Christian ethic, which is a cultural issue, is supportive of the entrepreneurial (capitalist) mindset. Doing business in Islamic countries such as Saudi Arabia is rather tricky. In the first place, the Islamic culture frowns upon charging interest on loan. Doing business in such an environment has been very expensive. The fact that adherents of Islam do not work on Fridays goes against the practice in other countr ies, and managers found it difficult making adjustments. The Islamic culture also favors market based systems and when they suspect one is making exorbitant profits, however justified, the establishment begins putting sanctions in the companys ways. This has hindered the company from making maximum profits from its investment, which is the hallmark of the capitalist culture from where the company originates. There have also been problems of negative perception of the company because of the historical West-Islamic conflict, making the firms operations difficult. When tensions between the two sides run high, sometimes the companys property is destroyed, or its products and services shunned by customers. This reduces the companys profitability. Operations in China where Confucianism advocates for individual connections rather than the rule of law have also been problematic. Business ethics have not been adhered to, making the firm lose out on opportunities for lack of connections, refe rred to as Guanxi (Goodrich, 2005). G4S once lost case where a company that had breached a contract was left unpunished because one the companys top executives was a son to a leading politician. Though this would appear to be unethical in most Western countries, it is perfectly normal in China, as the company later came to learn. For the sake of survival, G4S has now been forced to recruit well-connected local executives, and to enter partnerships with local companys belonging to senior government officials. This is normal in order in China. Most of the countries in which G4S operates have diverse linguistic backgrounds. This has posed major problems, especially in Saudi Arabia, where most people speak Arabic. Expatriate managers without the knowledge of Arabic have found it very hard to communicate when marketing the companys products and services. This has forced them to attend Arabic classes so as to make them perform better. Most African countries with a multiplicity of languages also pose problems of multiple cultures, which call for extensive training on the part of managers for these regions. Formal education determines the quality of skill, values, norms and the general socialization of individuals. G4S has had problems operating in countries such as Somalia and Rwanda in Africa, which have no proper system of formal education. In most cases, the firm has had to rely on expatriates to fill top management positions. References Clifton, J. (2004). Culture and International Business. New York: Blackwell Publishers Ltd. Emerson, N. (2007). The Social Dimension of International Business. Beverly Hill: Sage Books. Goodrich, A. (2005). The Dynamics of Global Business. Chicago: Gift Book Publishers. Hill, C. W and Jain, A. K. (2008). International Business: Competing in the Global Marketplace. New Delhi. Tata McGraw-Hill Publishing Company Limited. Impact of Culture on International Business Impact of Culture on International Business In this essay I am going critically to evaluate the impact of culture on the International Business. Culture is a term which could be defined in many ways. All the people have different attitudes and perceptions so when being asked what is culture for them , the answer will always have different aspects. Despite the we all believe we have impulsive knowledge on what culture mean defining it is more complex. According to Kroeber and Kluckhohns research culture may be defined in more than 160 ways. Best culture descriptions that were found during the research are that culture is. Different aspects of culture help different people to find the best field for them. But theres a case when culture affects the whole society not only individuals. According to Francis Fukuyama the most crucial area of modern life in which culture exercises a direct influence on domestic well-being and international order is the economy. Although economic activity is inextricably linked with social and political life, there is a mistaken tendency (â‚ ¬Ã‚ ¦) to regard the economy as a facet of life with its own laws, separate from the rest of society. The comprehensive cultures impact on international business might be found in every international company as culture affects HRM , International marketing , supply chain , operations management , corporate strategies and especially way of doing business. On the other hand cultures influence may be found mainly in values , beliefs and behavior. We can simply view three cultural differences across values , beliefs and behavior (see Appendix 2) The main summary about culture we can make is that when comparing different cultures we can define 4 key assumptions. Cultures are not homogenous. Within every culture there are subcultures . For example the caste system in India, working class culture. Also place of residence. For example Basque people , French Canadian. Cultural heritage and its interpretation are very individual, so we cant assume that two people from one country will behave in similar way or to have common beliefs. Separation of cultural issues from economic and political is complex as all three factors interact to influence views and beliefs. Defining the degree of differences between cultures is not straightforward because recognition of differences is a subjective issue. As the level of international trade and travel increases cultures become increasingly associated and the cultural diffusion may alter the significance of national cultures. As we saw that culture influences beliefs , values and behavior , its likely that the culture affects also the management style. The variations of what authorizes the management are not different in black and white terms , because theres a cross-cultural understanding of the purpose of doing business and the nature of management task. However there are differences of emphasis , priority and understanding which may create a variety of styles and practice. In fact the differences can be found by separating countries in a cluster. According to Hofstedes Cultural Dimensions there are four kinds of them which are used in order to compare national cultures. Individualism versus collectivism Individual rights and freedoms are fundamental values in individualistic cultures.  Special emphasis is placed on personal career and remuneration.  Collectivistic cultures are built on a foundation of values: harmony between people in the group, the priority of group needs and interests.  Hofstede concludes that all rich countries are individualistic and poor collectivist.  In societies individualistic relationships can be planned and either party to terminate them if they replace them with a good offer from elsewhere.  In collectivist cultures are characterized by relationships of moral and emotional nature. Power Distance Each member of the organization defines different levels of owned by him and other members of the groups organizational status, prestige and level in the organizational hierarchy.  Various are the rights deriving from the hierarchical level.  Subordinates carry out the decisions of superiors in a different way.  Use categories: gender, inequality, privilege, social position, status, power, etc. podchineiie  Studies of Hofstede put Asian and South American countries together with Belgium, France, Italy and Spain in the group of countries with a high index of severity of hierarchical position.  Scandinavian countries and the U.S. have low values of this parametyr, Bulgaria is among the countries that are characterized by the greatest difference between managers and subordinates. Uncertainty avoidance There are societies in which the uncertainty of future worries people, and vice versa.  For those societies are characterized respectively high or low depending on the experts in solving problems as small or large mode of individual consciousness to deal with them.Societies that do not take the risk and fear of tomorrow, develop pluralism of opinions and are willing to deal with individual problems.  In other societies, people are fighting for the future, they are nervous and aggressive.  They feel threatened by the world around them because they avoid the risk.  Hence the characteristics of the crop in their respective organizations: subordinates seek clear instructions and managers, preferring more rules and laws.  Bulgaria is among the countries in which people feel moderately stressed, are more conservative beliefs and value safety. Masculinity v femininity G. Hofstede defines masculinity as the extent to which dominant values in society are considered aggressive, pursuing the goals by all means.  The orientation is towards money and possession of property.  Cultures with a feminine nature, appreciate the relationship between people, caring for others, overall quality of life.   Dimension masculinity femininity is important to determine the methods of reasoning in the job, the choice of approaches to solving nl most complex tasks of conflict resolution.In Table.  5.5.  reflected the consequences for organizations of prevailing masculinity or femininity in the national culture (adapt. 3, 5, 12, 15 and 18). Depending on national cultures are formed organizational value systems and behavior.  Large transnational corporations are constantly confronted with the problem of national cultures, assessed the compatibility of cultures, predict the development of their interaction and assign them (incorporate).   So for every businessperson that is going to deal for a first time with a specific country can easily to look at the clusters (see Appendix 3 , fig 1) and to get an idea whit what kind of culture hes facing and how to deal. These clusters show that theres a level of cultural attraction between groups of nations so its easier to make a general understanding of management practice. But there are danger s of making groupings of countries. The detail of how people behave in certain situations must be discovered by own experience and discussions with people who have already worked with the particular country. Although having an understanding of a nations characteristics at a good level is very useful in international business because in different parts of the world theres a different management styles and because each of the main business factors are affected by the culture and cultural differences. When a company is creating its international strategy , it should consider where and what is going to sell , also to evaluate if the product will be accepted , because the future of the products success depends on the cultural understanding of the people who are going to buy it. For example for a company selling pork meat will be impossible to sell in Islamic countries because of the religion restrictions. Also staff should be employed in a variety of adequacy in the foreign locations. So human resource management need to be sensitive to any cultural need that might to individual countries. Similarly if a company wants to establish overseas plants , the culture and cultural difference can easily affect the way of production and content and format of any financial reports produced to report the firms performance. Its important to look how culture affects the operations management , international marketing , human resource management and finance functions. Impact of culture on International Marketing Its clear that the cultural differences across the world offers not only challenges but also opportunities for the international marketing. When being on a business trip its interesting to face products and facts that might be regarded as strange . For example advertisements of well-known brands completely different than those ones at home , or even opening hours for shops. All of those simple facts are of a great importance for marketing managers and pose potential threats for them when developing a strategy. When a company which is going to expand overseas is developing its strategy there are four alternatives for it: selling the product without changes on international markets. modifying products for different countries or regions. developing new products for foreign markets. incorporating all differences in a single product and introducing a global product Having categorized cultural groupings and cultural characteristics , managers are able to seek new overseas markets to expand their firms , to sell more goods , and to raise profits. Even culture might be suggested as a tool for marketing segmentation because if the culture in the target country is similar to the culture in the existing markets , its a precondition that selling the product in the target country might be successful. Products sold on foreign markets are influenced by the local behavior, tastes, attitudes and traditions in each market. The Coca Cola Companys attempt to sell Diet  Coke product on the Japanese market was not successful because the Japanese do not  consider themselves overweight and Japanese women do not want to admit they are  dieters turning to products whose label specifies that. The company was forced to  change the product name in Coke Light, and the promotion emphasized keeping in  shape by consuming the product, and not losing weight. Goods intended for consumers are more likely to suffer changes because they need to be adopted to meet the customers expectation in the target market and to meet the economic conditions of it. There are many examples of international firms that adjust their products to meet the specific expectations of the overseas markets. For example, McDonalds was forced to remove their menus including pork and beef meat and to create menus especially for the Indian market. The company has also developed rice-based  menus in China, started selling beer in Germany, wine in France, and in Japan  the character Ronald McDonald was called Donald McDonald to be easier to  pronounce by the Japanese. Another cultural issue that is effecting the international business is the price because it needs to match exactly the level of economic development in the target country. McDonalds is an exact example of that. When McDonalds opened in India , the company wasnt forced only to remove the beef and pork menus but also to reduce the prices of all goods which were sold in the restaurants. But still despite the fall in prices recent statistics show that McDonalds in India raised their profits by 8,9%. Human Resource Management In every company the HRM Manager is in charge to care for recruiting and training staff , working methods and time. For every company dealing across the world , its very likely to have staff of mixed nationalities which could lead to cultural confounding. When recruiting staff , some cultures will apply more conducted approach. For example the approach will be based on accurate qualification for the job and also test in order to asses the potential ability of the candidates. Other cultures will act differently by applying more easygoing approach. For example this approach is based on education, personal recommendation or employer networks. A main concept that is also relevant to the HRM is Hofstedes concept of power distance. Its relevant because its related to mans attitudes to hierarchy and also the way in which this might be translated into different ranges of pay levels of the highest and the lowest in the company. For example in France which Hofstede defined in the Power Distance group , theres a great gap between lowest and highest paid employee while in contrast the more collectivist and low power distance countries the gap is much smaller. Finance In order a company to pursue its goals and objectives it must be ensured with sufficient funds. Also need to be monitored if funds are used efficiently and correctly , if financial performance is reported to then management and shareholders. These are the main functions of the finance within every business. But elements mainly influenced by culture are sources of finance and reporting practice. Sources that might be used for companies expanding vary between different countries , as sources reflect not only on the political economy of the countries but also on their state of economic and financial development. For example in countries as japan and Germany usual form of sourcing business is by having loan from a bank while in the USA and UK businesses rely more on raising money by selling equity shares on the stock market. In order to expand overseas , companies may choose to find the money from the host or home country or even from third country. For example, when McDonalds decided to open their first restaurant in Moscow in 1990 during the Soviet Union. The company has used a joint venture with the Moscow City Council. Despite all the funds came from the franchisor from Canada and the US headquarters , the deal was to pay to the City Council in order to be allowed to operate in Moscow. So the agreement reflected the Soviet/Russian political system where business and state a re closely connected. So its fair to say that the financial arrangements were partially influenced by culture. Similarly there isnt an unified approach for reporting financial results by annual reports. For example nations as Germany , Italy and France use continental approach and is heavily influenced by tax regulations. The reports information is designed to allow the tax authorities and government to compute and monitor the liability. While Australia , USA and UK use Anglo-Saxon approach. Its assumed that the shareholders are the main users and the information provided in the report allows them to asses the companys performance and their investments performance. These differences are of a great importance for international companies because when they enter the international market and build their branches they will be challenged to agree to the local terms and rules. Also the financial information from all the branches should be combined in addition to create consolidated accounts. Common practice for international companies is to create unified reporting system based on home countrys rules and terms. So then the international branches use this system in order to prepare their financial reports. After reports are finished then the local staff in the international branches reworks the reports in order to meet the local regulations. Appendix 1 shared patterns of behavior (Mead) ; Collective mental programming (Hofstede); A set of base assumptions shared solution to universal problemsâ‚ ¬Ã‚ ¦ handed down from one generation to the next ( Schein) ; The essential core of culture consists of traditional ideas and especially their attached values (Krober and Kluckhohn)