Accumulation of International Reserves in Middle East and East Asian Countries

Having realized the importance of increased liquidity as a form of (self) protection against crises, many developing countries (i.e. Middle East and East Asian) started to accelerate their accumulation of international reserves. Chart 1shows the increase of such accumulation.

Having international reserves enables economies to adopt slower speeds of adjustment when confronted with balance of payment crises, contributing to their perceived creditworthiness and hence reducing the occurrence of crises: higher reserves mean that future out may be avoided since future current account deficits can be better financed, and the effects of capital outflows can be neutralized by running down reserves... Read more>>

Economic Integration - Optimum Currency Area and ASEAN

According to Carbaugh (2009), optimum currency area is a region in which it would be more preferable economically to have a single official currency instead of multiple official currencies. For example, Malaysia can be considered an optimal currency area. Malaysia consists of 13 states: 11 states in the peninsula of Malaysia and two states on the northern part of Borneo states. It would be inconceivable that the current volume of commerce among its 13 states would occur efficiently in a monetary environment of 13 different currencies. (Malaysia Tourism 2010)

The gains of an optimum currency area would be more uniform prices, lower transaction costs with greater certainty for investors and enhanced competition. Having a common currency area eliminates the risks associated with exchange fluctuations as cost of currency are lessened, resulting in more uniform prices (e.g. predictability of exchange rates) and lower transaction costs. Also, with a common currency area, “the economies are insulated from monetary disturbances and speculation, and political pressures for trade protection are reduced... Read more>>

How Formal Planning Contributes To An Organization's Efficiency and Effectiveness

According to Daft (2008, p210) planning is the “act of determining the organization’s goals and the means for achieving them” - the source of motivation and commitment, with legitimacy, guides to action, rationale for decisions, resources allocation and standard of performance as benefits -, and goals as what define and state the organization’s purpose.

By implementing formal planning, an organization’s (achievements) goals are outlined, with allocations of necessary resources, tasks, schedules and other actions being specified (Daft 2008). Explicit goals (targets) and plans at each planning stage would be developed, sending out messages to internal and external audiences. Thus, an organization improves its efficiency and effectiveness (financial and operational performance) when it adopts a formal planning approach... Read more>>

Labor Specialization Vs. Overspecialization

Labor specialization tends to increase an organization’s productivity. In Wealth of the Nations, Smith (1776) indicated that the benefits of labor specialization would increase in productivity: a worker’s skill and dexterity would increase. This division of labor would facilitate higher productivity and efficiency; such labor specialization breaks down the scope of jobs into narrow and repetitive tasks.

Using the pin manufacturing industry as an example, Smith (1776) stated that with each worker doing a specified task, a group of 10 workers would be able to produce 48,00 pins a day. However, if each individual were to work separately, performing separate tasks individually, the same group of people would only be able to produce within 10 pins a day... Read more>>

The Socioeconomic View vs. The Classical View

The socioeconomic view and the classical view are two approaches that shape and influence the way managers (especially in large organizations) prioritize and do things.

The socioeconomic view is “the view that management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare” (Robbins, S et al. 2006, p.161). According to Carroll (1991), the four fundamentals to corporate social responsibilities - economic, legal, ethical, and philanthropic - can be linked to corporate social processes such as environmental assessment, stakeholder management, and issues management (Wood, 1991)... Read more>>

Why a Franchise May be The Right Choice For You

Discusses the costs, benefits, and reasons for success or failure of franchise operations.

Costs:

Obtaining the right to use the franchisors name and its assistance may require several thousand to several hundred thousand dollars. The following is a breakdown of fees involved in operating franchises (Franchising World 2005):

• Initial Franchise Fee and Other Expenses - This is the initial franchise fee, which may be non-refundable, and includes other costs such as:

• Business or operating licenses and insurance

• Costs to rent, build, and equip an outlet and to purchase initial inventory

• Grand opening or other initial business promotions

• Product or service supply costs

• Real estate and leasehold improvements

• Training costs Financial and accounting advice

• Legal fees

• Discretionary equipment such as a computer system or business alarm system

• Advertising fees- Franchisees may have to pay into an advertising fund, with some portion of the advertising fee going for national advertising or to attract new franchise owners, but not to target the franchisee’s particular outlet... Read more>>
  

The Future of Digital Manga Publishing

The sudden closure of One Manga, had manga fans questioning the future of manga aggregator websites. Stricter rules imposed by publishers may push websites to close or trim down the number to unlicensed manga titles. Fortunately, two teams are racing toward an obvious solution - the digitalization of manga publishing - Open Manga and Crunchyroll.

Open Manga

"OpenManga is a Online Manga, Digital Publishing and Social Platform where comic artists can release directly to fans, receive revenue for their content, and become part of a global art and comics community."

Mission

"Our goal is to create a platform that allows manga authors and artists to publish and earn money from their work, while still reaching a multi-lingual global audience. A platform that promotes and allows artists (and eventually interested publishers) to work directly with translators and scanlators to publish their work while still remaining in control of their creations. A platform that supports an artist’s need for an income, with the possibility of free availability to the fan."

Open Manga's blog provides a detailed, and long, posts about their project. Here's a summary

• OpenManga was inspired by a business draft circulating the internet last year, which provided a model where publishers and artists can work together like in a symbiotic relationship. (Opps. They failed to specify what type of Symbiotic Relationship. I hope it's "Mutualism" not "Parasitism.")
• OP is connected yet completely independent with Manga Helpers. The same people who worked hard to bring us MH are responsible for the inception of OP.
• OP aims to create a platform (and a complete solution) where artists and publishers can publish their work and earn.
• OP aims to bridge artists/publishers, translators and scanlators for multi-lingual releases (localization).
• Artists/Publishers will earn through 3 subscription models (by artist, sitewide mobile plan and access to every content in any device), revenue shares and donations.
• OP will have its own currency available for purchase through credit card, PayPal, WebMoney.
• OP will have its own marketplace for digital and physical products.
• The manga may be available for free viewing, premium membership or subscription at the artists/publishers discretion...Read more>>