The massive external debt burden of sub-Sahara Africa has gained widespread attention as a serious policy issue during the past few years. These countries are particularly vulnerable because 1.they have large international borrowing requirements and the resulting external debt is denominated in different currencies; 2.most of their external debt is in obligations with variable interest rates; and 3.their trade in primary commodities is significant. Yet a recent survey by the World Bank revealed that 70 percent of foreign borrowers in developing countries do not hedge their interest rate or exchange rate exposures. In general, the Third World lacks the expertise in the use of recently-developed hedging tools and the understanding of the risk structure of their economies. This book carries out a through analysis of the financial risks characteristics of Nigeria. In addition, a debt composition hedging strategy is developed that minimizes Nigeria's budget exposure to external price shocks. The survey should be useful to developing countries who may be considering utilizing hedging techniques to improve their credit ratings and limit the impact of volatility in global markets.
The contributions are concerned with the theoretical and empirical analyses of fixed and flexible exchange rate systems, the role of central bank and other government policies in such systems, the prospects, workings and effects of a European Monetary System, and capital mobility and economic integration.
At the foundation of today's leading-edge manufacturing companies is a common vision for virtual, distributed enterprise in an agile environment where organizations can swiftly and cost-effectively bring products from concept to production - and respond dynamically to changes in customer and market requirements. Totally Integrated Enterprises: A Framework and Methodology for Business and Technology Improvement provides a framework and a methodology for understanding and mapping current enterprise configurations as well as for designing the revised architecture needed for the totally integrated enterprise. It also helps you select the MRPII, MES, APS, SCM, or ERP software most appropriate for your needs and for achieving total enterprise integration.
Acquisitions and mergers have left many enterprises with a legacy of varied cultures, resources, and processes that must be reshaped into a single, integrated whole. Increasing pressures from global competition force enterprises to become cost-effective, high-quality providers to traditional customers and push them to develop new markets and product lines. Nearly every enterprise needs to make the transition to a globally interdependent business paradigm. Totally Integrated Enterprises: A Framework and Methodology for Business and Technology Improvement gives you the key definitions that allow you to understand and communicate with vendors, consultants, and experts in the field. Using the techniques in this book you will see the results so often promised - but not realized - from technology.
Most ETFs are still passively managed funds that track equity indexes. The newer ones, however, are increasingly complex, often focussing on narrow sub-sectors of the market, non-equity asset classes, or enhanced directional plays. Some allow investors to expand and fine-tune a traditional asset allocation based on core equity exposure; others, such as leveraged or inverse ETFs, are used to improve portfolio risk-adjusted performance. As such, we must be aware that while ETFs may continue to offer the market valuable investment opportunities, just like with other financial products there are also distinct risks associated with these investments that need to be fully understood. What are they? How can they be used? and What do we need to know to protect ourselves before we invest? Are only a few of the many questions answered by this book. To effectively wade into ETFs' increasing complexity, this book opts for a multi-author approach. Gathering many experts gives the reader the benefit of exposure to all aspects of ETF features and use. Never before has this many expert opinions on ETFs been collected in one place. This book incorporates practitioners' perspectives on the challenges facing ETF investors as well as their insights on building ETF portfolios using the latest investment trends and strategies. Topics covered range from the established to the most recent cutting-edge work, making this book a must-have, not only for professionals wanting to brush up on the fundamentals of ETFs, but also for those who are more advanced in their use of these financial products and are looking for an edge in an increasingly competitive market.
This excellent volume brings together some of the most influential readings in business strategy and explores the content and process of business strategy from a variety of different theoretical stances. It will serve as a comprehensive introduction to the literature and will become required reading for students of economics, organisational behavior and business' - "Costas Markides, London Business School
"Strategy for Business provides a comprehensive selection of essential readings, covering six key areas in business strategy:
What is Strategy?
Competition and Industry Effects
Resources, Capabilities and Core Competencies
Strategic Innovation and Firm Size
Organisational Structures, Learning and Knowledge Management
the Global Information Economy
It contains dynamic chapters on strategy and includes classics in the field of strategy which continue to provide the theoretical background of more recent innovative work. Strategy for Business will be essential reading for those seeking an understanding of the changing nature of organizations and the world of business. It is particularly intended for students taking courses in strategy, organizational change and more general management courses at undergraduate level; it will also be an excellent resource for masters and postgraduate students.
This text is a course Reader, in a series of three (alongside Decision Making for Business, and Policy Issues for Business), which make up the main teaching texts of The Open University undergraduate course "Business Behaviour in a Changing World "(B300).
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