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Institutions combating corruption in South Africa

1.0 Introduction 
This paper examines the interplay between institutions combating corruption in South Africa and how this effect the economic growth in the country. Chapter two presents factors that create economic growth. Chapter three explains the importance of institutions in economic growth. Chapter four provides an analysis of corruption in the mining industry in South Africa and how corruption harms the economic growth in the country. Chapter five examines the institutions traits in combating corruption and chapter six compare the results from the analysis with India. 
2.0 Factors that create economic growth 
Economic growth can be defined as ?an increase in the amount of goods and services produced per head of the population over a period of time?(Oxford Dictionaries, 2018). Economic growth can be divided in to short-term and long-term growth. The following chapter presents an overview of theories on how economic growth and corruption is created. 
2.1 Short-term perspectives 
To achieve economic growth in a short-term perspective there must be an increase in aggregated demand that will have a positive effect on gross domestic product (GDP) from one year to the next. GDP includes the factors consumer spending, investment, government spending and net export. An increase in any of these factors will result in short-term economic growth. Any increase in economic growth in the short term can be shown as a movement on the X-axis(GDP) as shown in graph 1. The price level and GDP will increase. 
2.2 Long-term perspectives 
A long-term growth is not an increase in actual growth, it is an increase in potential growth. It can be shown as a shift to the right of the AD-curve. In the long-term the price level will we constant and the GDP will increase. Long-term economic growth can be caused by an increase in population and work force, an increase in the quantity and the quality of the factors of production and demographical changes. 


 
Graph 1 - AD-AS model
Source: (Blanchard, Giavazzi, & Amighini, 2010 p. 199)

2.3 Solow-Swan model 
An important economic model in growth theory is the Solow-Swan model of long run economic growth. In this model a fixed proportion of GDP goes to gross investment in real capital. Mathematically it can be illustrated like this:  
Y= f (A,K,L) 
The product function includes the factors capital(K), labor(L) and ideas(A). Capital represent physical capital like factories and tools, labor includes human capital and illustrates how education and productive humans increase the output, ideas and knowledge represents how capital combined with labor will produce valuable output. 
The production function of the model simplifies how resources and inputs are used to produce output. The key to understand the Solow-Swan model is to understand steady-state. When depreciation is greater than investment, the capital stock must be growing. When depreciation is equal to investment is the economy reaches the steady-state level of capital, meaning that all investment goes to repair and replace existing capital and there is no economic growth. When an economy has reaches the steady-state of capital, it has also reached the steady-state level of output. If investments are greater than depreciation, capital stock will be growing. If depreciation is greater than investments, capital stock will be decreasing. Both scenarios will lead the economy toward steady-state. The higher the investment rate, the greater the economic growth. When an economy is in steady state, it is said to be on a balance growth path(Blanchard, Giavazzi, & Amighini, 2010 p. 331). The Solow-Swan model predicts that the income of the people in emerging market will catch up with the income in a developed country. 
2.4 Klitgaards Corruption Formula
University professor and anticorruption researcher Robert Klitgaard has identified the following factors as the factors that creates corruption:
C = M + D ? A & T ? S
Corruption equals monopoly power plus desecration minus accountability and transparency minus sanctions (Klitgaard, 1997). 
The formula is used to cure and prevent corruption. It identifies the factors that is believed to increase the chances of corruption to take place. This formula indicates that the key to combat corruptions begins with better institutional systems. Klitgaards formula are used in chapter four to analyze how corruption occur in South Africa. 

3.0 The roles of institutions in economic development 
One of the first definitions of an institutions was offered by Douglas North in 1990. He suggested that: ?institutions are the rules of the game in a society or, more formally, are the humanly devised constraints that shape human interactions?. Institutions shapes human interactions in different spheres ? legal, social, political, cultural and economic (Blanchard et al., 2010 P. 340). The way economic activities are organized to create economic growth are much determined by institutions. It also influences investments in physical and human capital. One example of institutions that increase the economic growth is the presence of markets. Markets allows actors to exchange goods and services. In the study of the economic impact of institutions, it so far suggests that institutions is a fundamental cause of economic growth in the long run(Blanchard et al., 2010 p. 342). Structure of property rights and the presence and perfection of markets are important institutional traits that creates economic growth(Acemoglu, Johnson, & Robinson, 2005).  Economist strongly believe that the degree of government enforcement of property rights influences the economic incentives in an economy (Blanchard et al., 2010 P. 340).
3.1 New institutional economics
The goal of the new institutional economics (NIE) is to explain what institutions are, how they arise, what purpose they serve, how they change and how they should be reformed (Klein, 1999). NIE studies how institutions interact with organizational arrangements. NIE assumes that individuals have incomplete access to information and limited mental capacity, because there will always be uncertainty about the future and one cannot foresee what events that might occur. NIE differ from the neoclassical economics idea of individuals being fully informed and rational, and that transactions are costless and instantaneous (Menard & Shirley, 2005). Douglass North argues that the main input through NIE has had on economics has been to remove friction of the frictionless market by adding institutions. He argues that NIE has changed the neoclassical economics from static to dynamic.
3.2 Oliver Williamson and four levels of social analysis
Economist Oliver Williamson has created a framework that identifies four interrelated levels of social or institutional analysis (Williamson, 2000). The first and highest level provides a foundation for a society?s institutions. This level includes customs, traditions, ethics and social norms, religion and language. Williamson states that the adaption period in this level can take somewhere between a hundred and a thousand years. The next level includes what Williamson calls ?the formal rules of the game?. This level includes formal institutions like political systems, property rights, human rights, laws, money, some financial institutions and the government?s power to tax. The respond time in this level is somewhere between ten and a hundred years. The third level is what Williamson calls ?the play of the game?. This level focuses on governance and interactions between institutions and transactions costs. Contracts between institutions is an example given by Williamson. The time frame of this level is suggested to be between one and ten years. The fourth and last level defines the day-to-day activities in institutions like salary, prices, quantities bought and sold. These are consequences of neoclassical market imperfections like monopoly and oligopoly. 
3.3 The power of institutions and economic growth in Korea 
Recent research on economic development has shown that poor countries have a low quality in political institutions and justice, and low levels of economic openness. An example of how institutions has affected a country?s economic development is Korea. After world war two,  Korea got divided in to two completely different sets of institutions (Blanchard et al., 2010. p. 341; NRK, 2010). The north followed the soviet model of socialism and the Chinese revolution in abolishing private property of land and capital. The south maintained a system of private property and encouraged people and institutions to invest, innovate and export. The north and the south had approximately the same income pr. Capita before separation, 60 years later South Korea has an income pr. Capita approximately 18 times the income pr. Capita as in the north. The only plausible explanation for the radical difference in economic development, is their very different institutions that led to divergent economic outcomes(Blanchard et al., 2010. p. 342). 

4.0 Analysis of the economic development in South Africa 
South Africa is an emerging economy meaning that it is moving away from its traditional economy that has relied on agriculture and export of raw material to a more industrialized economy (Amadeo, 2017). Five characteristics of emerging market are low capita income, rapid growth, high volatility, lack of solid records of foreign direct investments and the market is expected to give a higher than average return for investors(Amadeo, 2017). South Africa is a country with good infrastructure, but it has huge social and economic problems. South Africa is still suffering the aftermath of the apartheid era that ended in 1994, and it is one the most unequal countries in the world(The Guardian, 2018). 
Corruption has been a major challenge in South Africa for many years and is ranking 64th out of 176 countries on Transparency Internationals corruption perception index(Transparency International, 2018). A study done by Hong Kong Baptist University in 1999 suggests that a 1% increase in the corruption level reduces the growth rate by about 0.72%. The same study suggests that the most important channel through which corruption affects economic growth is political instability, which accounts for about 53% of the total effect. There will be differences between countries, but this study gives an indication on how corruption interfere with the economic growth.     
The following chapter will analyze corruption in the mining industry in South Africa. The mining industry in South Africa is particularly vulnerable for corruption because of the huge scale of the industry. Because of the high risk of corruption in the mining industry, mining projects must be approved by the government, but investigation show that the industry is not being investigated well enough and people passing out mining approval are not eligible to do so. Politicians and government officials have been reported of taking advantage of their position to make a profit from their interest in the mining sector. Local communities are being excluded in the decision-making process, which have cost many families to lose their homes. 
To understand if a sector is particularly in high risk for corruption, Transparency International has framed six questions that will identify whether there is a high risk or not. The answers to the questions will help identify the underlying causes of corruption and help prevent corruption from happening (Caripis, 2017). These questions will be used to analyze corruption in the mining industry in South Africa. The Department of mineral resources(DMR) is a department of the national government in South Africa that is responsible to oversee the mining industry and to exploit the mineral resources in the country in the best interest of the people. It is also responsible for issuing mining and prospecting licenses (Corruption Watch, 2014). Corruption watch, a non-profit organization fighting corruption in South Africa has received several reports that allege that there is corruption among officers in DMR. The six questions Transparency international has framed are as followed:
1.    Who benefits from mining approval decisions?
The benefits of approving a mining project should be motivated by the best interest of the public. There is a high risk when it comes to movement of staff working between the government and the industry. If not properly controlled personal gain might be greater than the public good. Lobbying and political donations is common in the industry and the control of revolving doors between the mining sector and government officials is weak. 
2.    How ethical and fair is the process for opening land to mining?
If the rules of opening land for mining are not clear and transparent, there is a risk that investors exploit the decision makers? discretion and offer bribes in exchange for access to land. The process of opening land for mining in South Africa has no clear regulations and property rights might not be properly registered, resulting in private property being given up to the mining companies. 
3.    How fair and transparent is the licensing process?
A fair licensing process has clear rules and an effective authority with accurate information and bookkeeping. A regional office manager of DMR has been reported of taking bribes in order to speed up the application and licensing process(Corruption Watch, 2014). The first stage of the mining value chain is the most vulnerable and exposed stage for corruption. This stage is where it has shown to be the easiest for corruption to bypass. There is a lack of transparency and accountability in the process of licensing, permitting and contracts. This can be seen as the root cause of corruption in the mining industry(Transparency International, 2017). 
4.    Who gets the right to mine?
Without a proper and thorough examination from the government on who will be given the right to start mining, the companies can provide misleading information and can give approval to companies with a history of corruption or money laundry to operate. South Africa intend to suspend the rights of mining to several companies, but this might hamper growth and investments in the mining sector(Reuters, 2017). There have been unlawful operations by mining companies which has resulted in fatal accidents caused by poor regulations and safety routines. 
5.    How accountable are companies for their environmental and social impacts?
There shall always be effective verifications of environmental and social impact assessments (ESIAs) to protect license applicants from deliberately give false information about the potentials risks and impacts the projects might have. The Department of Mineral Resources is responsible of the approvals and licensing of the mining industry, however the department lack expertise and necessary capacity to verify the contents of ESIAs. Research shows that verification of ESIAs in South Africa are mostly done by authorities that lack the capacity to do so. 
6.    How meaningful is community consultation?
It is critical to ensure a genuine consultation and negotiation with the local community to ensure legitimacy of the mining approvals. It needs to be clear, and binding requirements for consultations, or else it might end up being ignored or bypassed. In South Africa the Mineral and Petroleum Resources Development Act states nothing about consulting with the community before getting in to action. 
The analysis indicates that South Africa?s mining sector fails on several of the factors increasing corruption to occur. Lack of transparency and accountability has resulted in government officials and officials in the mining sectors has been given a leeway for corruption. The first stage of the mining value chain is where most of the corruption starts and with weak regulation of transparency and accountability, government and mining officials can easily exploit their position for their own good. Personal interests have shown to be prioritized over the common good of the communities in several cases according to investigators. With a lack of regulations of accountable people to give out permits and licenses, mining projects has been licensed on the grown of corruption. Because of inefficient bureaucracy, mining companies sees corruption as a lubricate to bypass rules or to speed up the licensing process. Although it is common knowledge that corruption harms the society, corruption is very integrated in the culture. Many people see no other way than to turn to corruption when dealing with officials. According to Oliver Williamson it takes as long as a thousand years and no shorter than a hundred years to change customs, traditions, ethics and social norms that creates the basic foundation for a society?s institutions. To fight corruption, one must change the citizens attitudes and acceptance towards corruption which take more than a hundred years. 
According to Statistics South Africa, the country?s mining industry had a real GDP decline of 2.6% in 2016 compared to the GDP in 1994. In contrast, the finance sector in the country had a GDP growth of 168% in the same period. The Fraser Institute Investment Attractiveness Index rank South Africa in the top of being a country with great mining potential assuming the best governance practice and policies(Mining Review Africa, 2017). The Chamber of Mines has published a report on what effects better practice in policy, legislation and regulation formulation in the mining industry will have on investment and employment potential in the country. The report found that if the leadership in the mining industry shifts to become more ethical and focuses on good governance and competitive, stable and predictable policies, considerable new investment in mining would take place(Mining Review Africa, 2017). New investment in mining would boost the economy and the multiplier effect would be profound. New jobs would be created, and the GDP would rise. 
Research shows that less corruption and a more transparency in the management in the mining industry would lead to more investment who will lead to the creation of more jobs which then will lead to economic growth. The mining industry in South Africa has a big potential to increase the GDP more rapidly, but because of a corrupt and inefficient management the fully potential is not reached. 

5.0 The interplay among economic actors and institutional contexts 
The following chapter examines the combating of corruption in institutions in South Africa and how institutions effect the economic growth in the country.  
5.1 Institutions fighting corruption 
Economist Jakob Svensson defines corruption as ?the misuse of public office for private gain?. Corruption constitutes a theft of resources that belong to all of us. Svensson notes that there is a strong negative correlation between the wealth of a nation and its level of corruption, and that corruption often harms the poorest in a society (Matthews, 2014). In South Africa 50% of the population is living in poverty meaning that they earn less than 43$ a month. It is difficult to measure corruption and in very corrupt countries it is very likely that the country will offer bad or misleading data, in fact the data themselves might be corrupt. The most common method to use when measuring corruption is Transparency International?s Corruption Perception Index. The index attempts to measure people?s perceptions of how much corruption occurs, or how big of a problem it is. South Africa rank 71 out of 180 participating countries and has a score of 43/100, which indicates a high level of corruption. In contrast, Norway rank 3/180 with a score of 85/100(Transparency International, 2018).
South Africa has a robust anti-corruption framework aiming to fight corruption, but laws are adequately enforced (GAN Integrity, 2015). The Department of Public Service and Administration plays an important part of combating corruption and is the government initiative to beat corruption. There are plenty of non-profit organizations working against corruption. The Prevention and Combating of Corruption Act (PCCA) obliges public officers to report corruption and criminalizes corruption and attempted corruption in the public and private sector. Corruption in the lower levels of the judicial system is very susceptible and considered low risk for companies (GAN Integrity, 2015). The laws against corruption are not very adequately enforced and people sees loopholes where they can use corruption for their own good. 
The citizens of South Africa are not trusting the report system and in fear of being punished for reporting corruption, people tend not to do much about it. The Public Service Commission states that ?Whistleblowers need better protection. Once someone report corruption, they might end up suffering occupational detriment¨. The PSC is an anti-corruption department of the government. The PSC has developed an anti-corruption plan with guidelines on how to report fraud and corruption(Public Service Commission, 2016). National Anti-Corruption Forum (NACF) was established to combat and prevent corruption, build integrity and raise awareness, and was launched in South Africa in Cape Town in 2001(National Anti-Corruption Forum, 2018).
Since The African National Congress took over the political power in 1994, it is said that corrupted officials has stolen 50 billion dollars in corruption in a systems that starts with the president and filters down(Inside Story, 2015). Former president Jacob Zuma is facing charges of 783 cases of fraud and corruption. February 14th, 2018 Zuma was forced to resign by ANC. 
In theory South Africa has a well-developed anti-corruption system, but the citizens attitudes towards corruption takes time to change. Many people in South Africa sees no other options than to be a part of the corruption and lack of confidence to the government weakens the actions done by the anti-corruption organizations. 
5.2 Institutions and economic growth 
The power of institutions can much be linked to have an impact on economic growth. Distribution of power in political institutions has historically shown to have a great impact on economic growth. Some institutions having an important impact on economic growth are discussed in the following paragraphs. 


Property rights 
?Property rights do play a fundamental role, not only in increasing economic productivity, but also in raising the social standing and dignity of those who have them. Strengthening the property rights of poor people can therefore make important contributions to poverty reduction.?- Dr Ruth Meinzen-Dick (Zyl, 2017). Property rights are important for investments and development who in time will create a more innovative society that will stimulate to economic growth. Properties are protected by the constitution, but these laws are not always adequately enforced and in the analysis of the mining industry, it states that a huge problem is that citizens lose their properties to the mining companies. Section 25 of the constitutional bill from 2013 who constitute the protection of property, states that the government can expropriate property if it is of public interest or for public purpose. The definition of ?public interest? is broad and has been exploited in favor of the government or private mining companies(Esterhuizen, 2013).  
Investing in education 
South Africa has increased the investment in education under former president Zuma?s regime as it boosts the economic development. Zuma has been clear in his statements that the country need more educated citizens. More universities should be build and more people should be able to attend grad school. As South Africa is moving from a developing country to an industrialized country, there will be a decreasing demand for a workforce in agriculture and increased demand for people with a college degree. Better educated people tend to be more effective than non-educated people which can lead to an increase in economic growth(Radcliffe, 2008).  
6.0 Comparisons of South Africa and India 
A meaningful country to compare South Africa with is India. India is one of the greatest exploiter and exporter of minerals in the world, but it is also a country much harmed by corruption. On the Corruption Perception Index India ranks 81 out of 180 countries with an increasing score of 40 where 100 means no corruption at all. South Africa had a score of 41 in 2017 and ranks no. 71 on the list. India?s mining industry has become a great source for corruption for private mining companies. It is a country rich in minerals and it is the world's largest producer and exporter of the mineral mica. Some of the biggest areas for mining in India is also the homes of some of the poorest tribal communities in the country which has creates numerous of conflicts. India? s mining industry employees hundreds of thousands of people and is an important contributor to the economic growth in the country. The large scale of the industry has caused a dangerous mixture of corruption, bas policies and weak institutions. The governments oversight and regulations is largely inefficient(Albin-Lackey, 2012). Mining companies exploit mining in areas where they are not authorized to do so. In 2010 official statistics shows that there were more than 82,000 instances of illegal mining where a lot of these instances disrespected basic human rights. There is clearly a huge problem in India that the government is not looking after the mining companies well enough. International laws obliges India to design laws to protect the human rights of the citizens that are affected by the mining industry, but the laws in India are set to fail to protect the human rights of the citizens effected(Albin-Lackey, 2012). Mining companies has polluted the drinking water of villages, the air has been so much polluted that citizens have been suffering serious respiratory ailments and some citizen has suffered violent actions when tried to speak up about these problems. 
Human Rights Watch believes that the biggest issue regarding corruption in the mining industry in India is government indifference and the government often leave the regulations up to each mining company to decide. Human Rights Watch describe the mining industry in India as ?chaos and corruption? and ?a total lack of governance?(Albin-Lackey, 2012). The lack of institutions regulations be suggested to be the root cause of corruption in the mining industry in India. In contrast to South Africa where there are institutions overseeing the industry both private and public, seem to be corrupt and cooperation with each other. 
In the past twenty years, mining has been opened for private companies with weak regulatory requirements for approval. A report on the development of the mining industry in the country by the Ministry of Mines from 2011 says "legal and regulatory loopholes and inadequate policing has allowed the illegal mining operations to flourish and grow"(Ministry of Mines, 2011 p. 2). Poor regulation in the mining industry in India gives the mining companies the opportunity to write its own rules according to Human Rights Watch (Tran, 2012). Investigations has also shown that politicians have received paltry royalties from private mining companies. 
Much like South Africa, the mining companies in India fail on several of the questions Transparency international framed to understand the risk of corruption in the mining industry. The mining companies are not acting in the best interest of local community, laws are being ignored and weak presence of the government makes it a leeway for mining officials in the private mining industry to make decisions in their own personal interests. 
Both countries are largely harmed by corruption in the mining industry by similar forms. The most important factor of making corruption possible has shown to be lack of transparency and accountability in the first level of the mining value chain of licensing in South Africa and lack regulatory approvals and overseeing of the government in India. 
As countries develop the demand for a transparent government, better infrastructure, better schooling and safer neighborhoods are increasing, so maybe the development of the economy in India and South Africa will have an natural positive effect on combatting corruption(Chakravarty, 2010).  Historical, corruption has decreased as the countries? human development had increased. 
7.0 Conclusion
The purpose of this paper is to examine what role institutions has on economic growth and how corruption can interfere with the economic growth in South Africa. Corruption in South Africa is a wide spread problem and this paper focused on corruption in the mining industry. The most vulnerable stage of where corruption occur is in the first stage of the mining value chain where licensing and approvals takes place. Corrupt officials in the private industry and in the government bypasses approvals that has not been examined thoroughly enough. This paper found that the main reasons for corruption to occur in the mining industry of South Africa is to bypass inefficient bureaucracy and personal monetary gain. Negative consequences of corruption in the mining industry are the lack of thousands of jobs that could have been created, it is stagnating the GDP growth and it is harming the communities living in or near the mining projects. When comparing South Africa?s mining industry with India?s one can see many similarities. The main differences are where in the process the corruption occur, but the countries are both heavily harmed by the corruption. 

8.0 References

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Cross-Cultural Challenges when doing business in China

Abstract

This literature review will take a deeper look in to cultural challenges of cross-cultural management.  I will use literature from 1984 to 2017 to enlighten the subject.  Cross-cultural challenges are identified and real cases are analyzed in the light of international management theories. The paper will manly focus on cultural challenges in a Chinese and American management.

Introduction

This paper will look at what literature says about how different cultures affect cross-cultural management in China and the US, and how to overcome issues regarding culture. Culture can be defined as "the sum of the beliefs, rules, techniques, institutions, and artifacts that characterize human population" (Ball & McCulloch, 1999). It is something learned and practiced during childhood through socialization, and it is something deeply integrated in the traditions (Xing, 1995). Due to globalization, different cultures are bound together in a cross-cultural management. Cross-cultural management involves effective interaction between workers, managers, clients, suppliers and organizations from different cultures(Zellmer-Bruhn & Yu, 2015). Key challenges associated with cross-cultural management are language barriers and lack of cultural understanding. Managers working across cultures must search for, and capitalize similarities, as well as adapting to cultural differences. Therefore, it is vital for a multinational or global company to have a good cultural understanding of the countries it is operating in or with. This paper will include an insight of the Chinese culture compared to the American culture, and identify challenges that might occur. It will also look in to a few American companies that failed to establish in China due to lack of cultural understanding.

Cultural Diversity 

Most Chinese inhabitants share the same traditions and values, although it differs to some extent between rural and urban areas. Among values highly appreciated in China are harmony, benevolence, righteousness, courtesy, wisdom, honesty, loyalty, and filial piety (Lihua, 2013). These values form the Chinese culture. One should always attempt to use communication to actualize the moral integrity and harmony of the universe. However, it is considered negative if you use communication to pursue your own individual self-interest(Miike, 2007).

In many cultures, language is perhaps the most important key to understand the culture. (Rugman & Collinson, 2006, p. 130). For instance, when Coca-Cola first was introduced in China in the 1920s, they attempted to write its name phonetically in Chinese. Coca-Cola ended up with the pronunciation "Keh-kou-keh-la", and started putting up billboards. Later, they learned, that in Chinese "Keh-kou-keh-la" literally means "Female horse stuffed with wax" so they had to change the name (Dana, 1999). For American managers, only relying on English and lacking other language skills, can weaken their ability to adapt and empathize with other cultures (Rugman & Collinson, 2006, p. 130). In general, Chinese people might percept Americans as very direct, explicit and too result focused (Rugman & Collinson, 2006, p. 138). In China, being to direct is in general considered rude and it is seen as an indication of lack of education and sophistication.

The Chinese culture is strongly influenced by traditional values, and look at time as a process of eternity. Americans on the other hand, view time as a scarce resource and value efficiency (Xing, 1995). Being late in an American meeting is considered rude and impolite by an American, but Chinese people want to value life, and not be controlled by the time.

Cultural Dimensions  

To emphasize the cultural differences between China and the US it can be helpful to look at Geert Hofstede's diagram comparing the cultural differences. This paper will only focus on the key findings of the model. Hofstede developed dimensions on cross-cultural behavior in a study of IBM employees in more than 60 different countries(Hofstede, 1984). Hofstede's dimensions have been debated over time over its accuracy, but it is still considered to be one of the most comprehensive studies on how values in the work place are influenced by culture (Gallant, 2013).

Source: China in comparison with United States (Hofstede, 2017)

The first dimension, power distance, is defined by Hofstede as the extent to which the less powerful members of institutions and organizations within a country expect and accept that power is distributed unequally (Hofstede, 2001). Chinas high score (80) proves that China has a higher acceptance of inequality in the society, whereas the US low score (40) indicates that they are favoring a more equal and fair society. The Chinese has a higher acceptance of a hierarchically organizations, and decisions are usually reached in a top-down matter. The next dimension, individualism, demonstrate to which degree people are supposed to look after themselves, or to be integrated in a group. In an individualistic society, you are supposed to look after yourself and the immediate family only. In contrast, collectivists societies people are born into groups where everyone helps each other out through a lifetime in exchange of unquestioning loyalty(Hofstede, 2001). The US has a very high score (91) compared to China (20), meaning that a Chinese man might have a harder time trusting a stranger than an American man. The importance of building a relationship before doing business in China is strong. The fourth dimension, uncertainty avoidance, refers to the extent in which a society fears unknown situations or not, and how willing they are to take risk(Hofstede, 2001). China's low score (30) means that they are more open to take risks. The US on the other hand has a higher score (46), meaning that the average American is not as much of a risk taker as a comparable Chinese person, and that he or she prefers planning ahead of time. The last dimension included in this paper is long-term orientation. A high score in this pillar indicates that a society values the planning and preparation for the future. In contrary, a low score indicated a society looking at societal changes with suspicion(Hofstede, 2001).  China has a very high score of 87, and the US the low score of 26.

Guanxi

Guanxi is a Chinese term used to describe relationships that will lead to an exchange of favor, or important "connections" between people. It is in many ways similar to "networking"(Goh & Sullivan, 2011). Guanxi carries long traditions in Chinese business culture, and it is very important to understand the concept of guanxi when doing business in China. Guanxi explains the importance of relationships in order to build trust. Business in China revolves around trust, so it is important to establish a "connection" through guanxi before considering an agreement. For foreigners, it is essential to invest a lot of time to build and maintain a relationship with the Chinese (Goh & Sullivan, 2011).

American Companies in China

Some of America's most powerful companies have failed to enter the Chinese market in the past few decades. Among American failures are Mattel, eBay, Google and Home Depot(Carlson, 2013). Shawn Mahoney, managing director of the EP China consulting group said that It's a lack of understanding of the legal and cultural environment that leads to most failures. The only different between a success and failure in my experience is that people who are successful are more willing to talk and learn about how things work on the ground"(Carlson, 2013). Many American companies have failed to adapt to the culture in China. In 2009 Mattel, the US' biggest toy company opened "House of Barbie" in Shanghai. It was a Barbie palace of six stories, restaurants, spa, hair- and nail salon. After two years Mattel had to shut down their flagship store due to failing to read the market. Instead of only focusing on children, they assumed the costumers wanted a whole range of Barbie products, and ended up bleeding money. Barbie was never a familiar brand in China and due to pricy products Chinese costumers were not interested (Carlson, 2013). Companies going to China need to be flexible, adaptable and responsive to Chinese tastes. Mattel did not take into consideration that most families in China only have one child and that they prioritize education over toys. Toys are considered a waste of time, if they do not have an educational purpose (Kuo, 2013).

Language barriers and differences in intellectual styles play an important role in cross-cultural management(Usunier, 1998). When eBay tried to establish in China, they failed to acknowledge the importance on guanxi. eBay was ousted by a local competitor, Taobao after only two years. Taobao knew the culture and adapted their business to the people in China (Carlson, 2013). Chinese people want to build a relationship before doing business according to Hofstede, and Taobao let the costumers and sellers chat over instant-messages in order to make a connection before buying anything. "Those buyers really want to get to know the sellers," Paul A. Pavlou, a professor at Temple University said (Carlson, 2013). And again, it proves that Chinese costumers do not want to do business with strangers.

Conclusion 

Literature has different perspectives on what the main cross-cultural challenge of international management in China is. In general, it can be said, that American companies which have failed in China have not spent enough time getting to know the culture, and has underestimated the importance of guanxi. Copying a business model might work in some countries, but in China it has shown to be vital to adapt to the culture, and learn about the importance of relationships to survive. The common denominator in the examples given of American companies failing to adapt to the Chinese market, is a lack of cultural understanding. It is also important to take in consideration that all people, and businesses are different. One company's way of operating in China, might not work for another. There are also a number of other factors which determine whether a business process will be successful or not. To conclude:  the costumers demand differs a lot from what American customers are demanding, and the importance of building a relationship and brand before establishing a business, cannot be underestimated. The only thing differing between failing and succeeding companies, is the willingness to talk and learn about how things are done on the ground, according to Mahoney (Carlson, 2013). Most American failures are caused by a lack of understanding of the legal and cultural environment, as well as the language in China.

Future Research 

The growing of multinational companies demonstrates the importance of understanding other cultures. Failing companies are giving us hints of what to expect when entering the Chinese market. They have all failed in their own way, but most of the companies have in common that they failed due to misunderstanding of the culture. Further research should include an overview of what caused the failing, and how successful companies manage their business in China. Companies keep making the same mistakes as previous companies trying to enter the Chinese market. The culture will still be the same in China in the years to follow, but with globalization the unfamiliar culture of China will be more familiar to foreigners, and vice versa. Opportunities in China should be investigated and mapped, as well as a framework of handling the cultural challenges when meeting up with Chinese people. Lastly, how words have a different meaning translating in to a common language should be investigated, and how that can affect the managing decision processes.

References  

Ball, D. A., & McCulloch, W. H. (1999). In International Business: The Challenge of Global Competition (7th edition, p. 258). Mcgraw-Hill Business.

Carlson, B. (2013). Why big American businesses fail in China. Retrieved September 12, 2017, from http://www.utdallas.edu/~zlin/Business%20News%205.pdf

Dana, L. P. (1999). Kentucky Fried Chicken. Retrieved September 20, 2017, from http://www.emeraldinsight.com/doi/full/10.1108/00070709910278505

Gallant, M. (2013). The Business of Culture: How Culture Affects Management Around the World. Retrieved September 12, 2017, from http://www.halogensoftware.com/blog/the-business-of-culture-how-culture-affects-management-around-the-world

Goh, A., & Sullivan, M. (2011). The Most Misunderstood Business Concept In China. Retrieved September 11, 2017, from http://www.businessinsider.com/the-most-misunderstood-business-concept-in-china-2011-2

Hofstede, G. (1984). Culture′s Consequences: International Differences in Work-Related Values (Abridged edition). Beverly Hills: SAGE Publications.

Hofstede, G. (2001). Culture′s Consequences: Comparing Values, Behaviors, Institutions and Organizations Across Nations. SAGE Publications.

Hofstede, G. (2017). Hofstede's Dimensions China. Retrieved September 11, 2017, from https://geert-hofstede.com/china.html

Kuo, L. (2013). "Made in China" Barbies are now being made for China. Retrieved September 12, 2017, from https://qz.com/144710/made-in-china-barbies-are-now-being-made-for-china/

Lihua, Z. (2013). China's Traditional Cultural Values and National Identity. Retrieved September 11, 2017, from http://carnegietsinghua.org/2013/11/21/china-s-traditional-cultural-values-and-national-identity-pub-53613

Miike, Y. (2007). An Asiacentric Reflection on Eurocentric Bias in Communication Theory. Communication Monographs, 74(2)

Rugman, A. M., & Collinson, S. (2006). In International Business (4th ed., pp. 130, 132, 138). Prentice Hall.

Usunier, J.-C. (1998). International and Cross-Cultural Management Research. SAGE.

Xing, F. (1995). The Chinese cultural system: Implications for cross-cultural management. S.A.M. Advanced Management Journal; Corpus Christi, 60(1), 14.

Zellmer-Bruhn, M. E., & Yu, L. (2015). Cross-Cultural Management. In Wiley Encyclopedia of Management. John Wiley & Sons, Ltd.

 

Personalledelse

Her kommer mine notater fra da jeg tok personal ledelse på BI i 2015. Pensum kan ha endret seg siden da, så hvis du sitter på gode notater i faget kan du gjerne sende det til meg så jeg kan poste det på bloggen.

 

Kapittel 2

Forpliktelsesbasert vs kontrollorientert HR

Myk HR: «Et humanistisk perspektiv hvor effektivitet søkes oppnådd gjennom gode relasjoner mellom medarbeidere og ledelse/eiere, delegering, medarbeiderinnflytelse og ansvarlighet».

  • Investering i menneskelige ressurser
  • Assosieres med forpliktelsesbasert HR
  • Tillit og fleksibilitet, forpliktelse til organisasjonen

Hard HR: «Et økonomisk perspektiv hvor effektivitet søkes oppnådd gjennom kontroll- og incentivsystemer. Her er det snakk om en interessent og ett mål: eierne og deres avkastning».

  • Sanksjoner og økonomiske incentiver
  • Menneskelige ressurser blir håndteres på en økonomisk rasjonell måte.
  • Kvantitativ, kalkulerende og businessorientert HR
  • Kontrollorientert HR

Skillet mellom myk og hard HR ligger på om man legger trykket på menneskene eller ressursene.

 

Kapittel 3

Strategisk og intern konsistent HR

Strategisk HR: det mønsteret eller sett av HR-aktiviteter som har til hensikt å bidra til at organisasjonen når sine mål. (Farbrot, 2008)

 

Kapittel 11 Arbeidsmiljøundersøkelser og andre HR-målinger(Kuvaas & Dysvik, 2012)

  • Arbeidsmiljøundersøkelser, medarbeiderundersøkelser eller klimamålinger
  • Hva bør måles? Hvorfor? Hvordan bør organisasjonen gjennomføre HR-målingene?
  • HR dreier seg om alt som har med menneskelige ressurser å gjøre

Hva bør måles?

Mål det man tror har sammenheng med organisatoriske resultater

  • Indre motivasjon og affektiv organisasjonsforpliktelse representerer jobbrelevante holdninge4r som burde være passende kandidater til å inkludere i HR-målinger.
  • Organisasjonsforpliktelse viser til bedre resultater
  • Både jobbtilfredshet og affektiv organisasjonsforpliktelse er relativt sterkt positivt relatert til eks. ekstrarolleatferd og negativt relatert til forhold som turnover, turnoverintensjon og stress.
  • Tilfredshetsmålene påvirkes i større grad av organisasjonens økonomiske resultater, enn hva tilfredshet påvirker økonomiske resultater.
  • HR-aktiviteter som bør måles er:
    • Forhold som er kandidater til strategiske og økonomiske mål hvis mulig
    • Det som ønskes endret eller utviklet og som kan påvirkes
    • Forhold og sammenhenger man regner med er viktige, men vet lite om
    • Oppfølging av endringer og investeringer med sikte på positiv utvikling eks- evalueringer/effekter av HR-tiltak.
    • Forhold som store mengder forskning over tid har vist er viktige på tvers av organisasjoner.

Hvorfor?

  • Reliable og valide måleinstrumenter
  • Årsaks indikatorer:
    • Affektiv organisasjonsforpliktelse
    • Tillit til organisasjonen
    • Investering i medarbeiderutvikling
    • Jobbautonomi
    • Kollegial støtte

 

  • Resultatindikatorer:
    • Indre motivasjon
    • Arbeidsinnsats
    • Ekstrarolleatferd
    • Turnoverintensjon

 

  • Jobbautonomi er viktig på grunn av den sterke sammenhengen med indre motivasjon og på grunn av den direkte sammenhengen med ekstrarolleatferd
  • Kollegastøtte er viktig på grunn av sammenhengen med indre motivasjon og på grunn av den direkte sammenhengen med ekstrarolleatferd
  • Medarbeiderinvestering er viktig på grunn av sammenhengen med indre motivasjon og på grunn av den direkte negative sammenhengen med turoverintesjon.
  • Mål samme egenskap med flere spørsmål

 

Oppsummert

 

  • Enkeltpåstander er ofte korrelert med andre egenskaper enn den vi ønsker å måle
  • Gode påstander er spesifikke, men som enkeltpåstander blir de ofte for spesifikke til å fange opp det vi ønsker å måle
  • Enkeltpåstander «inneholder» vanligvis betydelige mengder av tilfeldige målefeil
  • Enkeltpåstander «inneholder» ofte systematiske målefeil, som eks. kan resultere i overvurdering av jobbtilfredshet
  • Bruk av enkeltpåstander gjær det ikke mulig å estimere reliabilitet og validitet

Bør benytte flere påstander for å måle de aller fleste psykologiske egenskaper som ikke er direkte observerbare.

  • For å fange opp innholdet og bredden i en egenskap
  • For å redusere betydningen av tilfeldige målefeil
  • For å øke og å kunne estimere reliabilitet og ulike validitetsindikatorer

 

Kapittel 12

  • Jo mer støtte medarbeideren opplever fra sin leder, jo mer opplever de å bli invester i
  • Støtende ledelse er helt avgjørende for effekten av HR-tiltak
  • For mye HR-arbeid kan oppleves som byråkratisk og unødvendig, pådyttet, verktøybasert og standardisert på en måte som gir lite rom for lokal tilpasning

 

Få det beste ut av dine medarbeidere - Professor Anders Dysvik (Handelshøyskolen BI, 2014)

Hentet fra https://www.youtube.com/watch?v=FYwjrB9nFlc

Det er ingen som vokser på å bli målt.

Prestasjons forbedring, ta imot tilbakemeldinger

Må gi prestasjonsrelatert tilbakemelding til atferden til medarbeideren, hva kan gjøres bedre og hvordan?

Atferds spesifikk tilbakemelding

Resultat er konsekvensen av atferd

Engasjerte medarbeidere

Jobbengasjement er situasjonsbestemt

For nyansatte er det ila de første 90 dagene at de bestemmer seg for å bli eller dra

Blir de godt tatt imot blir de lengre = mindre gjennomtrekk

Ytre motivasjon, det er resultatet av en aktivitet som er drivkraften

Indre motivasjon, interesse, tilfredshet og glede ved utførelse av arbeidsoppgavene

Jo mer indre motivert:

  • Jo bedre arbeidsprestasjoner
  • Jo høyere affektiv organisasjonsforpliktelse
    • Nærvær, positivt innstilt til endring, lavere fravær, jobber hardere, hjelper nyansatte, stolthet og tilhørighet, de må oppleve støttende ledelse daglig, og bli behandlet rettferdig mht. lønn, behandling osv.
  • Jo lavere turnoverintensjon
  • Jo mer ekstrasrolleatferd
  • Jo mindre jobbstress og sykefravær

Ved å innføre individuelle belønninger er samarbeidet det første som ryker       

      Du mister penger ved å hjelpe din medarbeider, fører ofte til økt ytre motivasjon og svekket indre motivasjon. Vanskelig å hente tilbake tapt indre motivasjon

Hvis penger er den eneste drivkraften/motivasjonen, har man lett for å bytte jobb, penger får man tak i på alle jobber, det må være noe indre motiverende som holder en medarbeider i jobben sin.

 Feed back er ferskvare og bør gis så fort som mulig, ikke på årlige medarbeidersamtaler

 

Kapittel 4 Indre og prososial motivasjon

Etter en tid med individuelle belønninger for å nå organisasjonenes mål, vil slike tiltak før til at organisasjonen bil bestå av ledere og ansatte som virkelig blir dyrket til å følge sine egne interesser og på andre måter sørger for seg selv snarere enn det kollektivet organisasjonen utgjør

Egeninteressedrevne ledere og medarbeidere øker

Da vil det ikke lenger være særlig effektivt å lede og organisere gjennom tiltal som sikter mot utvikling av lojale, involverte og engasjerte ansatte med sterke sosiale og psykologiske bånd til organisasjonen.

 Motivasjon er det som driver atferd. Hvilke drivkrefter som får oss til å handle. Hva er målet for handlingene våre.

Ha et felles mål for ledelsen og medarbeiderne, det skaper motivasjon.

Ytre motivasjon i form av bonuser kan svekke arbeidsinnsatsen, sammenlignet med indre motiverte medarbeidere. Ytre belønning fører til en betydelig reduksjon i den indre motivasjonen for å utføre arbeidsoppgavene.

Indre motivasjon referer til atferd utført med bakgrunn i indre belønninger som tilfredshet, glede eller meninger knyttet til de oppgavene vi utfører, eks. når vi er engasjert i en hobbyaktivitet og glemmer tid og sted

Prososial motivasjon referer til et ønske om å etterleve organsinens normer og verdier, gjerne som følge av at medarbeiderne identifiserer seg med organisasjonen.

Indre motivasjon kommer når forholdene legger til rette for det

Jobbkarakteristikamodellen visera t indre motivasjon øker med opplevelsen av mening, ansvar og kunnskap, og at kilden til disse opplevelsene er jobber som krever variasjon i ferdigheter og som gir grunnlag for oppgaveidentitet og oppgavebetydning, samt jobb autonomi og tilbakemelding på utført jobb.

Hovedkilden til indre motivasjon er selve jobben og egenskapene med den, prososial motivasjon går ut på hvordan man bli behandlet.

Fire nivåer HR

Bård Kuvaas skiller mellom fire ulike nivåer av strategisk HR, fra det laveste til det høyeste nivået av internt konsistent HR:

HR-funksjonen opererer helt uavhengig av organisasjonens strategi.

Organisasjonen forsøker å tilpasse HR-funksjonen til strategien, men tilpsningen går kun fra strategi til HR.

Organisasjonen tar HR i betraktning når den utvikler sine strategier.

Kontinuerlig og likeverdig kobling mellom strategi og HR hvor begge setter premisser for hverandre. HR kan like godt gi grunnlag for strategiutforming og strategiske valg som vice versa.

- Ansatte er forskjellige

Organisasjoner må ta hensyn til individuelle forskjeller blant ansatte. Det er ingen god idé å utvikle HR-tiltak som tar sikte på å gjøre de minst produktive medarbeiderne mer produktive, for deretter å innføre dette for alle ansatte.

Eksempelvis kan standardiserte medarbeidersamtaler for alle ansatte ha en negativ effekt på arbeidsprestasjonene til de beste medarbeiderne.

HR

Strategisk HR blir ofte beskrevet som det mønsteret eller sett av HR aktiviteter som har til hensikt å bidra til at organisasjonen når sine mål

Intern konsistent HR eller horisontal HR, betyr at de ulike HR-tiltakene er tilpasset hverandre og er komplementære. Ofte forskrekker de også hverandre og kan gi opphavet til synergieffekter

Ekstern eller vertikal HR, referer til samsvaret mellom HR og ulike andre organisatoriske forhold, men forskning på området har vært mest opptatt av strategi

Forpliktelsesbasert HR, myk HR, beste praksis-HR: jobbsikkerhet, langsiktige ansettelsesforhold, gode interne karrieremuligheter. Svært elektiv rekruttering med vekt på holdninger og væremåte. Utstrakt satsing på trening og utvikling av alle medarbeiderne. Utviklingsorientert HR. Konkurransedyktig fastlønn og kollektiv prestasjonsbasert belønning. Små statusforskjeller. Langsiktig verdiskapning og oppmerksomhet mor mange ulike interessentgrupper.

Kontrollorientert HR, konvensjonell HR, Hard HR: Outsourcing, utstrakt bruk av innleid arbeidskraft og fleksible arbeidskontrakter. Satsing på dem med de beste tekniske ferdighetene og/eller eksamenspapirene. Kjøp av de beste «talentene» og satsing på de beste medarbeiderne. Administrativ HR og informasjonsinnsamling med sikte på beslutninger om lønn, forfremmelser osv. Betaler de beste veldig godt og individuelle prestasjonsbasert belønning. Store lønns- og status forskjeller. Verdiskapning på kort sikt. Eierne som eneste interessentgruppe.

 

Kilder:

Farbrot, A. (2008). Slik skapes det ekstraordinære. Hentet 29. november 2017, fra https://forskning.no/arbeid-ledelse-og-organisasjon-naeringsliv-abc-i-naeringsliv-sosiale-relasjoner/2008/05/slik-skapes

Handelshøyskolen BI. (2014). Få det beste ut av dine medarbeidere - Professor Anders Dysvik. Hentet fra https://www.youtube.com/watch?v=FYwjrB9nFlc

Kuvaas, B., & Dysvik, A. (2012). Lønnsomhet gjennom menneskelige ressurser. Fagbokforlaget.

 

BØK 3434 - Bedriftsøkonomi og finans

Her kommer det noen oppgaver med svar og forklaring på eksamensrelevante spørsmål i bedriftsøkonomi og finans. Ønsker du å teste dine ferdigheter i faget vil jeg anbefale deg å sjekke ut ACE(klikk) sin quiz i bedriftsøkonomi og finans som blir publisert neste uke. Lykke til!

1. Inger hadde i 2016 en årslønn på 450 000. Hva vil lønnen hennes være om 10 år dersom han forventer en økning i lønnen på 3,5 % i året?

Forklaring: 450 000 * 1,03510 = 634 770

 

2. Hva vil 500 000 kr plassert ved utgangen av året ha voks til ved utgangen av det 10. året med en årlig avkastning på 8%

Forklaring: 500 000 * 1,089 = 999 502. Innskuddet skjer etterskuddsvis og derfor er eksponenten 9 og ikke 10

 

3. Kroken AS har per 31.12.2017 en egenkapital på kr 1.960.000, kortsiktig gjeld på kr 1.300.000, langsiktig gjeld på kr 1.530.000 og anleggsmidler for kr 3.150.000. Hva er beløpet for bedriftens omløpsmidler? 

Forklaring: OM+AM = EK+KG+LG Så derfor finner vi OM ved å legge sammen EK + LG + KG og trekker fra AM: 1.960.000 + 1.300.000 + 1.530.000 - 3.150.000 = 1.640.000

 

4. Fredriksen AS selger en gitt periode 1.000 tannbørster. Salgsprisen per tannbørste for er kr 10. Markedsundersøkelser tyder på at hvis Knudsen AS setter ned prisen med 15%, vil de kunne selge 1.150 enheter. Hva blir i så fall priselastisiteten ved prisnedslaget?

Forklaring. Priselastisitet = Prosentvis endring i etterspurt mengde / Prosentvis endring i pris Priselastisitet = 15 / (-15) = -1

 

5. Hva blir totalkapitalrentabilitet om kapitalens omløpshastighet er 6 og resultatgraden 3%?

Forklaring: 18% (forklaring: 3%*6=18)

 

6. Ingrid setter kr 40 000 i banken. Innskuddsrenten er 2,5 % per år. Hva har beløpet vokst til etter seks år?

Forklaring: Saldo på innskuddskonto etter 6 år = kr 40 000 * 1,025^6 = kr 46.387,73

 

7. Hvor mye penger må du sette i banken i dag for at innskuddet skal vokse til kr 100 000 om seks år? Bruk en rentesats på 2 % per år.

Forklaring på kalkulator:

-100.000 [FV]

6 [N]

2[I/Y]

[CPT]

[PV] = 88.797,14

 

8. Du tar opp et kortsiktig serielån på kr 100 000. Lånet skal tilbakebetales over 4 år med kvartalsvise rente- og avdragsterminer. Lånerenten er 2 % per år. Vi ser bort fra andre lånekostnader. Hva betales henholdsvis som renter og avdrag ved utgangen av 3. kvartal det første året?

Forklaring:

Du betaler ned på lånet over 16 terminer (4 år * 4 terminer i året) i serielån er avdragene like stor så da deler vi 100.000/16= 6.250 kr i avdrag hver termin.

Rentene i 3. kvartal blir: (100.000 - 12.500) * 0,02/4 = 437,55

Vi legger sammen renter og avdrag: 6.687,5 + 656,12 = 6.687,5

 

9. Et fem-årig investeringsprosjekt forventes å ha følgende kontantstrøm i mill. kroner: ( -10, 2, 4, 5, 4, 2). Avkastningskravet er 17% per år. Hva er prosjektets nåverdi?

Forklaring på kalkulator:

[CF0]

-10 [enter] [ned]

2 [enter] [ned] [ned]

4 [enter] [ned] [ned]

5 [enter] [ned] [ned]

4 [enter] [ned] [ned]

2 [enter] [NPV]

17 [enter] [ned]

[CPT]

NPV=0,800131

 

10. Merckoll AS hadde pr. 31.12.2016 en egenkapital på kr 3.990.000, kortsiktig gjeld på kr 2.200.000, langsiktig gjeld på kr 2.020.000 og omløpsmidler for kr 3.700.000. Hva er beløpet for Fredriksens anleggsmidler?

Forklaring: AM + OM = EK + LG + KG

AM = EK + LG + KG - OM

AM = 3.990.000 + 2.020.000 + 2.200.000 - 3.700.000 = 4.510.000

Eksamen i Kommunikasjon for ledere og organisasjoner

Da er quizzen i Kommunikasjon for ledere og organisasjoner publisert på Ace sine nettsider og App.

Husk å lik ACE Education på facebook, så får dere oppdateringer på når det blir publisert nye quizzer.
 

Intoit hjelper deg frem mot eksamen

Ikke glem å benytt dere av Intoit sine quizzer til eksamenslesingen. Nå ligger det quiz i Bedriften, Strategi, Makroøkonomi og Organisasjonsatferd og ledelse ute. Quizene er helt gratis og gi gjerne en tilbakemelding på om det er noen fag du mener vi burde lage quiz om. Intoit sine quizer finner dere på nettsiden til Intoti, samt i Apple Store og Google Play. 

http://www.intoit.io/login

 

Lykke til !



 

Flervalgseksamen i strategi

Her kommer et lite tips til deg som sitter og forbereder deg til eksamen i strategi (STR3605). På ACE Education sin hjemmeside finner du en quiz med eksamensrelevante spørsmål i strategi. Du finner quizen på hjemmesiden eller så kan du laste den ned fra Apple Store eller Google Play. Jeg vil også anbefale å se videoen "Hele pensum på 38 minutter" som er lagt ut på Slack for de av dere som har tilgang på den. 

Lykke til! 

Til dere som skal ta eksamen i Business Communication og Bedriften Høsten 2016

Til alle som skal opp i eksamen i Business Communication og Bedriften denne høsten anbefaler jeg dere å sjekke ut ACE Education sin nettside og App. Her finner dere en rekke quizer relatert til relevante fag. Jeg anbefaler dere å laste ned appen, så kan dere øve til eksamen når dere sitter på bussen eller ikke har bøkene tilgjengelig. Og best av alt: Appen helt gratis å laste og du finner den i Apple Store og Google Play!

Foreløpig ligger det kun to BI quizer ute, men snart kommer det flere. Lik de gjerne på Facebook også for å holdere dere oppdatert. 


 

Makroøkonomi - Definisjoner og teorier

Kjøpekraftsparitet: s. 95, 209: de valutakursene som gir samme pris på en vare i alle land. Priser og varer vil på lang sikt tilpasse seg slik at samme vare får samme pris både hjemme og i utlandet når man måler i felles valuta. Hypotesen holder ikke på kortsikt, men tenderer mot å holde på lang sikt.

Renteparitet: 218: teori som forklarer utviklingen i valutakurser med hensyn på det relativet rentenivået mellom land. Teori er at rentenivået mellom to land og valutakursene mellom landene på sikt vil justeres slik at effekten av endringer i det relative rentenivået motvirkes av endringen i valutakursen. På denne måten vil arbitrasje ikke være mulig.

Udekket renteparitet: 350. Hypotese om at fri adgang til å plassere eller låne penger i forskjellige valutaslag vil føre til en utjevning av forventet avkastning av internasjonale pengeplasseringer.

Kvantitetsteori: 204: Kvantitetsligningen: MV=PY. V=PY/M. P = Prisnivå T = Transaksjonsvolum M = Pengemengde V = Pengenes omløpshastighet. Forklarer sammenhengen mellom pengemengde og prisnivå. En økning i pengemengden vil gi en tilsvarende økning i prisnivået(inflasjon)

Fisher-sammenheng: 214: i=r+π. Sier at det skal være en høy korrelasjon mellom inflasjonsrate og nominell rente: i perioder med høy inflasjon skal vi vente å finne et høyt nominelt rentenivå, og omvendt. Det samme gjelder mellom land: land med høyest inflasjon skal ha den høyeste nominelle renten. Dette er en langsiktig sammenheng.

Keynesiansk teori: 29, 252: forklarer makroøkonomiske fluktuasjoner(kursbevegelse) og virkninger av makroøkonomisk politikk på kort sikt.  Tar som utgangspunkt tregt bevegelige lønninger og priser på kort sikt.

Klassisk teori: 29: forklarer økonomiens langsiktige utvikling. Bygger på at lønninger og priser er tilpasset hverandre slik at det er likevekt i markedene.

Beholdningsstørrelse: 57. Kan måles på ethvert tidspunkt, uavhengig av om tidsenheten er f.eks kvartal eller år. Eks. realkapital, kapital- og formuesstørrelser.

Strømmingsstørrelse: 57: måles pr. tidsenhet slik som årsinntekt, BNP, konsum, investering, overskudd på driftsbalansen overfor utlandet. Inntektsbegreper er alltid strømningsstørrelser.

Deskriptivt utsagn: Beskriver hvordan ting er. Fakta. Eks. Ved rentemøtet i mai 2012 valgte Sentralbanken å holde styringsrenten uendret

Normativt utsagn: beskriver hvordan ting bør være. «Jeg syntes at?» Eks. Flere europeiske land sliter med høy statsgjeld, noe som garantert skyldes at de har levd over evne i alt for mange år.

 

Handlingsregelen: Fastslår hvor stor andel av oljeinntektene som skal brukes hvert år. Stortinget skal ikke bruke mer enn fire prosent av fondskapitalen for å skape balanse i statsbudsjettet.

Ricardiansk ekvivalens: 511: nåverdien av alle statens fremtidige utgifter kan ikke være større enn nåverdien av alle inntekter, med andre ord må offentlige låneopptak i dag betales med skatter en gang i fremtiden. Når staten tar opp lån, vil privat sektor øke sin sparing like mye som den offentlige gjelden økes. Da vil ikke skattepolitikken påvirke samlet etterspørsel etter varer og tjenester så lenge nåverdien av all skatt nå og i fremtiden er konstant.

Seignorage 225: Land trykker mere penger for å betale ned gjeld. Basispengemengden øker og fører til en vedvarende inflasjon som kan føre til hyperinflasjon (inflasjonsrater på mer enn 20% pr. måned, 791.6% pr. år)

Basispengemengde(M0): 203: Sentralbankpenger. Holdes av publikum (husholdninger, ikke-finansielle foretak og kommuner) samt forretnings- og sparebanker. Kan styres direkte av Norges Bank.

Det smale pengemengdebegrepet(M1): holdes av publikum. Penger som er i omløp utenfor Norges Bank og banksystemer. Beholdningen av sedler og mynter, samt sektorens innestående på transaksjonskonto i forretnings- og sparebanker, samt i Norges Bank. Kan ikke styres direkte av Norges Bank.

Det brede pengemengdebegrepet(M2): summen av M1 og pengeholdene sektors øvrige bankinnskudd inklusive deres beholdninger av banksertifikater.

BNP-Deflator: 45: brukes til å bestemme prisvekst og reflekterer dagens økonomiske tilstand av en bestemt nasjon. Tar hensyn til varer som er produsert innenlands. Prisindeksen til BNP.

BNP: 14,35: Mål på den økonomiske aktiviteten i et land. Verdien av den samlede innenlandske produksjonen av ferdige varer og tjenester, verdsatt til markedspris, i en gitt periode. BNP fanger ikke opp all økonomisk aktivitet. F.eks. kommer ikke økonomisk aktivitet og verdiskapning i private hjem med, slik som matlaging og omsorg for barn. Såkalt «Svart økonomi» kommer heller ikke med.

Deflasjon, 17: Reduksjon i prisnivået eller økning i pengeverdien.

Inflasjon: 17: motsatt av deflasjon: Økning i prisnivået og reduksjon i pengeverdien. Med andre ord: Inflasjon gjør at du får færre varer og tjenester for 100 kroner.

EMU: 425: Den europeiske pengeunionen: Har euro som felles valuta. Den europeiske sentralbanken ligger i Frankfurt og er sentralbanken for alle medlemslandene i EMU. Dens viktigste oppgave er å bestemme styringsrenten som vil gjelde for hele euroområdet. De nasjonale bankene kan derfor ikke føre en nasjonal pengepolitikk. Medlemslandene får automatisk faste nominelle valutakurser, men realvalutakursene kan variere dersom inflasjonsratene blir forskjellige. Det er en ulempe at landene mister muligheten til å føre en nasjonal pengepolitikk for å stabilisere produksjonstapet og inflasjonen.

Effektivitetslønn: 180,181: Arbeidsgivere har interesse av p betale tine ansatte godt for å fremme lojalitet og motivere dem til stor innsats og høy produktivitet. Dette kan føre til at reallønnen blir for høy slik at den strukturelle ledigheten blir større enn det som svarer til normal friksjonsledighet.

Faktorproduktivitet: 110: en uforklart restfaktor. Desto høyere total faktorproduktivitet, desto høyere BNP for samme mengder av arbeidskraft og realkapital.

Friksjonsledighet: 176: forklarer hvorfor det til en hver tid er strukturledighet. Fokuserer på at det tar tid for de arbeidsledige og ledige jobber å finne hverandre.

Strukturell arbeidsledighet: den gjennomsnittlige arbeidsledigheten, målt som en trend over flere konjunktursykluser også kalt «naturlig ledighet».

Konjunkturell arbeidsledighet: 171: Ledighet som henger sammen med konjunkturbevegelsene i økonomien og blir målt som avvik fra trenden.

Hyperinflasjon: 226: Inflasjon som er høyere enn 20% pr. måned

Høykonjunktur: 15, 243: Når konjunkturindikatoren ligger over trendnivået

Lavkonjunktur: 15, 243: Når konjunkturindikatoren liger under trendnivået.

Nedgangskonjunktur: 243: en periode med lavere vekst enn trenden.

Oppgangskonjunktur: 243: en periode da veksten i økonomien er sterkere enn trendveksten, altså større enn 2,5% pr. år.

Fleksibel inflasjonsmålstyring, 393, 439, 416: Sentralbanken tar hensyn til både inflasjonsgap og produksjonsgap i sin rentesetting.

Streng inflasjonsmålstyring: Sentralbanken legger ingen/liten vekt på produksjonsgapet i sin rentesetting.

Produksjonsgap: differansen mellom faktisk produksjon og den produksjonen som svarer til potensiell produksjon. Perioder med et positivt produksjonsgap omtales normalt som høykonjunktur, mens perioder med negativt produksjonsgap indikerer lavkonjunktur. Produksjonsgap

IS- sammenhengen: 314, 320: sammenhengen mellom realrente og BNP. Hvis realrenten er svært høy, vil dette føre til lavere etterspørsel og lavere BNP.

Kjerneinflasjon: 441: inflasjon justert for avgifter og uten energivarer.

Multiplikator: 263: beskriver forskjellige økonomiske prosesser hvor en viss, initial endring i en betalingsstrøm fører med seg andre betalinger, slik at den samlede endring blir større enn den opprinnelige.

«Pay-as-you-go» finansiering: 524: Finansiering av trygder og pensjoner skjer I hovedsak ved at utgifter blir finansiert løpende av skatteinntekter over offentlige budsjetter.

Pengemultiplikator: 222: Forholdet mellom endring i basismengden og endringen i mengden av bankpenger. Økes basismengden øker bankenes utlån til publikum. Den samlede pengemengdeøkningen vil da være større enn økningen i basismengden på grunn av multiplikatoreffekt.

Pengepolitikk: Oppgaver knyttet til pengepolitikken i Norge er delegert til sentralbanken. Deres hovedoppgave er å fastsette styringsrenta.

Ekspansiv pengepolitikk: Lavere rente for å øke etterspørselen som fører til økt økonomisk aktivitet.

Kontraktiv pengepolitikk: Høyere rente for å dempe den økonomiske aktiviteten.

Finanspolitikk: 19: økonomisk politikk som påvirker offentlige inntekter som skatter og avgifter og andre offentlige utgifter. En ekspansiv finanspolitikk er en økning i offentlige utgifter eller en reduksjon av skatteinnkrevingen. Med kontraktiv finanspolitikk mener vi en reduksjon i statens utgifter, eller en økning av skattene.

Philipskurven: 397: Phillipskurven skal vise sammenhengen mellom de to makroøkonomiske variablene inflasjon og arbeidsledighet. Høyere inflasjon-> større ledighet.

Progressiv skatt: Skatten er progressiv når skattetabellen er inndelt i flere trinn og skatten regnes ut etter høyere satser når inntekten stiger.

Realvalutakurs: 75: prisforholdet mellom goder som er produsert i ett land i forhold til goder som er produsert i et annet. Uttrykker bytteforholdet mellom goder. Hvis realvalutakursen synker, sier man at norske kroner realappresierer i forhold til valutaen man sammenligner med.

Nominell valutakurs: verdien av et lands pengeenhet i forhold til verdien av pengeenheten til et annet land.

Realrenten ( r): er tilnærmet lik differansen mellom nominell rente og inflasjonsraten: r=i-π

Eksogene størrelser: en variabel vi vet verdien på. Input i en modell.

Endogene størrelser: en variabel vi ikke vet verdien på, men som bli bestemt i en modell på bakgrunn av den eksogene variabelen. Output i en modell.

 

 

 

Forslag til CSR og dilemma tre

Dilemma three

Hiring a suitable candidate for the key position of Business Development Director has developed into a veritable ethical dilemma for Process Technologies. In this letter I will explain why I think Martha Kolberg is the best candidate for the opening. I will focus on her aptitudes, experience, and qualifications and on the impact choosing her will have on the company and its reputation. The principles that I will apply are based on ethics.

When handling an ethical dilemma we should consider two approaches to business ethics. The consequentialist approach would be to look at the consequences of our actions, rather than the morally right thing to do. In a business context this implies choosing the course of action that would benefit as many stakeholders (i.e. the shareholders, the customers, male and female employees, and future jobseekers) as possible in a long-term perspective. The deontological approach would be to do what is morally right without contemplating the consequences. In this case choosing a candidate based on merits would be the deontological approach to the dilemma. I will apply both approaches to this letter.

Martha Kolberg is clearly the company?s most accomplished female employee. She has a Master?s degree in Petroleum Engineering from NTNU where she even received the Statoil Prize for the most outstanding student of her graduation year. At Process Technologies she has often proven more competent than personnel with greater experience, and she has already held several management positions. Currently she is managing the office in Houston very competently and she has displayed considerable interpersonal skills in establishing good working relationships with our key accounts in North America. During her stay she has acquired both sales experience and international experience. Fredrik Moen has no international experience and he has never worked in marketing. I originally felt that the two candidates were evenly matched, but after having reviewed their merits more thoroughly I realize that Kolberg is the best candidate. Thus, the deontological approach to this dilemma would be to promote her. Applying affirmative action, or positive discrimination to make amends for discrimination in the past, to prioritize Kolberg would be unnecessary in this case. I think the predominantly male middle managers are biased if they claim that Kolberg was selected to improve the company?s poor gender profile.

Martha Kolberg enjoys the support of the female middle and junior managers. There are no women in a senior management position at the company. If Moen were selected this will confirm the existence of a glass ceiling, i.e. a sexist gender bias, at the company. Then Kolberg, potential female jobseekers and the ambitious females at the company will probably seek challenges elsewhere. In my opinion, we cannot afford to miss out on such resources. Moreover, research indicates that companies benefit from having both men and women represented at all levels and I feel confident that more diversity would benefit Process Technologies. Finally, if Moen were selected Process Technologies? already poor gender profile will probably attract more negative publicity and its reputation may deteriorate. As a consequence, some of our shareholders may decide to pull out.

Some people argue that Fredrik Moen due to his gender is the candidate that would cater more to our male-dominated potential markets and customers in Venezuela and South America. However,Martha Kolberg has succeeded in the male-dominated Texan oil industry and her international experience, technical competence and interpersonal skills will hopefully be appreciated by our South American customers. Thus, in the long-term and in a consequentialist perspective I think most of Process Technologies? stakeholders would benefit from the selection of Martha Kolberg for the position as Business Development Director.

Please do not hesitate to contact me if you have any further queries.

Yours sincerely

 

 

CSR

http://www.sciencedirect.com/science/article/pii/S0024630114000557 Er en god artikkel som forklarer tanken og fordelen med å drive CSR gjennom nedgangstider. Det henger som regel med å vise aksjeholdere og potensielle nye investorer at bedrifen er såpass solid at de tar vare på nærsamfunnet selv om det er vanskelig.

Ved å drive strategisk CSR kan bedriften kunne bygge opp goodwill og ble mer attraktiv å handle med, som vil øke salg og vil få flere investorer på sikt. Slutter man med CSR når det går dårlig viser man derimot at man ikke har planlagt langt nok frem, og det blir til en ond spiral.

det går dårlig -> investorer ser det går dårlig -> de selger seg ut --> verdien på bedriften går ned --> flere investorer selger seg ut --> de ser det går dårlig --> osv.

Det er flere måter å komme seg ut av denne situasjoner på. Man kan gjøre tiltak for å minske kostnadene eller maksimere profitten, for å gjøre det mer attraktivt for investorer å investere og for å holde spekulasjonene nede. Det er også fult mulig å forsette å drive CSR for å vise til verden at bedriften kan gjøre to ting på en gang, noe som kan gi dem strategiske fordeler (En bedrift som gjør godt for samfunnet og klarer å holde en profitt mens det går dårlig vil få oppmerksomhet.)

Med andre ord: God CSR --> good will --> bedriften blir attraktiv å handle med gitt godt rykte --> spekulasjonen går ned for store langtids investorer. (Det er de som holder aksjer i lang tid som er viktig å beholde, ikke dem som kjøper og selger på kort varsel)

For å knytte det til oppgaven: Det er forståelig at Kjelldrup, som investor, sliter med å forstå konseptet med å bruke "hans" penger på noe som ikke har noe direkte effekt på bedriften her og nå. Bruker ikke bedriften pengene på CSR kan de bli brukt til å dempe fallet og minimere problemer, eller så kan de bli brukt til å gi mer til alle "shareholders". På den andre siden vil det å ikke drive CSR ha lite til ingen virkning på lang sikt. Der blir nesten en situasjon av å se muligheter mot å se problemer. CSR er en mulighet som kan gi økonomiske fordeler, mens det er et mer direkte problem med nedgang i bedriften.

En annen vri på spørsmålet blir: Skal man ofre litt i dag for å ha en mulighet for en bedre morgendag, eller skal man gjøre det man kan i dag og satse på at det går i orden til slutt?

Det er også muligens lurt å trekke inn at Kjelldrup er Dansk mens Hilde Schmidt er Tysk og bedriften er i Norge. Bedriften og Kjelldrup bar dermed en norsk kulturbakgrunn(tilnærmet lik), mens tyskland er mye mer lik USA. Det vil si at begge partene er vandt til forskjellige verdier, og det er kanskje en ide å trekke frem noen av modellene til å forklare ståstedet til Brian og Hilde. Hvilke modeller og teorier blir opp til hva hver enkelt føler er relevant til oppgaven (kommer nesten an på formuleringen av oppgaven og hva vi er ute etter )

Uten om det så blir det å se igjennom konsekvensetikk og pliktetikk (consequencialism and deontologicalism) og prøve å få få frem forskjellige perspektiv på problemstilling(argumenter rundt) og muligens kom med din egen vurdering gitt alt du har diskutert.

Noen spørsmål man kan stille seg rundt en sånn oppgave:

Føler man seg pliktig til å drive CSR som bedrift? Til og med i dårlige tider?

Hva blir konsekvensene om man driver CSR? Hva blir dem om man ikke driver CSR?

Hva er tankegangen rundt CSR i Norge? Hvordan er den da i Tyskland?

Kulturforskjeller mellom Norge og Tyskland? Hilde er tysk, dermed har bedriften en ny CEO med nye verdier. Skal hun bøye seg etter landets og bedriften verdier, eller skal bedriften bøye seg etter hennes verdier? Vil dette kunne løse problemet, eller skape flere problemer?

Hvorfor er CSR viktig?

Ethical Dilemma Three

Equal Opportunity

Three Ethical Dilemmas, Brown, Mark and Cleaverly, 2010. page. 43

 

The parties involved:

Kai Johannson - managing director. 56 year-old. In favor of Fredrik Moen

Edwin Robben - Human Resources Director. From the Netherlands. 3 years in the Company. Previously: personnel manager at a multinational petroleum company. Recruited several women in the company, wants more. In favor of Martha Kolberg.

Fredrik Moen - Technical Service Manager. 40 year-old. Bachelor's degree in engineering (university of Stavanger). Master in management. 12 years in Process Tech. Left the company after 8 years, came back. Has no international experience. He is married and have two kids (18 and 10-year old). Well respected.

Martha Kolberg- Business Manager, North American Operations. The companys most accomplished female employee. 36 year-old. Been working for Process Tech for 9 years. Held several management positions, most recently in head of the Key Accounts in the North America business unit. International experience. Has a master in Petroleum engineering from NTNU. Won the Statoil Prize for being the most outstanding student of her graduating year. She is married and have one kid (4 year-old). She has been managing a small office and Houston, Texas.

 

Required qualifications and key tasks of the New Business Development Director

  • Identify potential new markets and customers
  • Develop relationships of mutual trust in order to facilitate the sales of the company's very advanced systems
  • Inter-personal skills
  • Outstanding technical competence and experience
  • Time to build relationships
  • International experience preferred

 

The Company - Process Technologies

  • Norwegian engineering company.
  • One of the market leaders in the design of technology used to increase the amount of crude oil (råolje) that can be extracted from an oil field thus prolonging its life.
  • Located just outside Stavanger
  • Large number of foreign employees
  • Corporate language is English
  • Reputation for a poor gender profile

 

Summary

Recently, Process Technologies has been heavily criticized in the media, for failing to promote women in managing position. Last month, Dagens Næringsliv published an article about the poor gender profile in the Norwegian engineering sector. The article included a ranking, and Process Tech ranked near the bottom on the "Equality Scale". The low ranking came to attention of the Norwegian Petroleum Directorate (oljedirektoratet). The Director General of NPD asked Process Tech's Managing Director, Kai Johannson to look in to this issue, and report back on the specific steps they will do to improve the situation. Johannson passed the message to the HR department of the company. Johannson was later contacted by a journalist from TV2, but refused to be interview. Instead, he issued a short press release stating that Process Tech always promoted on the basis of merit. He is convinced that there is no discrimination at Process Tech.

Johannson passed the letter to Process Tech's human Resources Director, Edwin Robben. He is convinced that engineering companies miss out on an enormous management resource due to failure to recruit and promote women. He had heard about Norwegian companies' comparatively good record in promoting women in to senior management, and that motivated him to relocate in Norway. Within his first three years at Process Tech, he succeeded in recruiting a number of talented female engineers and economists, but he had not yet had the opportunity to promote a woman into a top position. One reason for this is that there has not been any suitable female candidates for the new and few senior positions. Robben started to worry that the companies poor gender profile would reflect back on their female employees, and there was already a perception of an existence of a "glass Ceiling" operating at Process Tech. With the recent negative publicity on the company, he looked at this as an opportunity to promote a woman in a managing position.

A month ago, the Business Development Director announced his intention to resign, giving the company three months' notice. PT has a policy of promoting internally whenever possible, and there are two strong candidates for this position, Fredrik Moen and Martha Kolberg.

They are both very strong candidates with a degree in engineering. Moen has a Bachelor's degree and Kolberg a master. They are both married and have kids. Moen has no international experience, Kolberg has. (Look at the candidates profile further up in the article or in the collection of article for more specifics on their career and merits).

Moen contacted Johannson worried that Kolberg would have an advantage based on the company's bad publicity recently. Johannson assured him that the company policy of promoting on merit would be followed. Johannson is in no doubt that if Moen were passed over for this position, the company would lose him. Moen is a very well respected man in the company, and Johannson is concerned about the negative signals this would send to the rest of the company.  

Kolberg on the other hand, was concerned that the company's record of promoting males to senior managerial positions will work against her. She called Robben about her concerns, and told him that her international experience among other qualifications would make her the best candidate for the job.  She argued that if the company chose not to promote her, it would have extremely negative impact on the motivation of talented female, junior managers in the company. It would confirm their perceptions of a glass ceiling. She ended the conversations with making it clear that if she did not get the job, she would leave the company. Robben assured her that the selection would be based on merit.

Robben feels that both candidates are evenly match on merit, but that Kolberg should get the job for other reasons. Firstly, he thinks it is important to dispel the perception among female managers that a glass ceiling exists in the company. Secondly, he in convinced that a female in the management would enrich the company and bring more diversity.

Johannson leans towards Moen. He regards Moen as a slightly better candidate as far as merit is concerned.  He is worried that Kohlberg's family situation (she has a four year old child), could take too much of her time. He would feel more comfortable with promoting Kolberg if she has been a little older.

In the few days, Robben and Johannson are scheduled to choose one of the candidates.

Ethical Dilemma Two

Corporate Social Responsibility

Three Ethical Dilemmas, Brown, Mark and Cleaverly, 2010. page. 29

 

The parties involved:

Hilde Schmidt: the newly appointed German CEO. Well-respected trouble-shooter.  In favor of CSR.

Brian Kjelldrup: a Danish investor who has recently acquired an important holding in the company. Not in favor of CSR

Anita Larsen: Financial Director - opposed to Rekor's CSR involvement. Not in favor of CSR

Frode Midtgarden: Corporate Affairs Director - a strong supporter of CSR

 

The company - Rekor Smelterverk

An aluminum foundry and extrusion plant based outside Skien. Was sold off in a Management Buy Out (MBO) ten years ago. The company is known for its policy of contributing generously to local projects. Rekor allocates 2% of its annual profits to the local community. It creates a positive public image and strengthens the Co-operation between Rekor and the local community. Rekor's largest customers are increasingly interested in Rekor's environmental and social performance.

Summary

Rekor's recent financial performance made it possible for the company to invest in a brand new aluminum extruder. Rekor anticipated that that they would win large orders in the European market for automotive components unfortunately, the demand for aluminum components in the car industry did not meet Rekors current sales volume. This lead to a dramatic fall in profits of 50%, and Rekors share price collapsed and went down to 85% of the original flotation price. Several long-term shareholders, sold out as a result.

A new CEO, Hilde Schmidt, was brought in from Germany to turn the company's situations around. She is a well-respected trouble-shooter, with experience from the car industry. Unless the sales increases very soon, she would have to cut production, and 150 employees could lose their jobs. The collapse in profits has prompted the board to strengthen its financial commitment. The board decided that a 50% reduction on its annual donations would create too many difficulties for the recipients. Therefor the board suggested to either donate 2% of its annual profits, or NOK 8 million, whichever is the higher. The coming year, Rekor has earmarked NOK 8 million for local projects in Skien. The money will be used in the following way:

NOK 3 million will go to the improvement of playgrounds at the town's five primary schools

NOK 3 million will go to a retirement home in Skien, which houses many parents of present employees.

The remaining NOK 2 million will support ongoing projects to improve water purity and increase the recreational value of the Telemark Canal. Without the annual donation of NOK 2 millions, this particular project would not have been possible.

Six months ago, a new investor, Brian Kjelldrup bought 19, 7% of Rekor's shares. On the same register were three new names: brokerage firms known to be allies of Kjelldrup, which hold another 7%. A total of 26, 7%. Kjelldrup stated publicly that he does not intend to try to take over control of the company. He emphasized that it is important to maximize the financial return that the company delivers to all of its shareholders. He was in active dialogue with managing team of Rekor.

In his first letter to the board, he argued that Rekor's sponsorships in the local community are absorbing the shareholders money, and asked the board to explain what the benefits of this investment are for the shareholders.  He claimed that several other shareholders also were concerned about the use of "their money". Kjelldrup intend to table a motion on this subject at the Annual General Meeting that is scheduled to be held in two months. The board of directors of Rekor is due to meet in one week's time and asked Hilde Schmidt for a report on the case.

 

Sjekk kommentarfeltet for hvorfor bedrifter tjener på lang sikt å investere i CSR

Tips til eksamen i BUSINESS COMMUNICATION IN ENGLISH

 

  • Les gjennom alle tre dilemmaene nøye. De er ikke lange, men har mye viktig informasjon som er nødvendig å kunne til eksamen. Mye av stoffet i dilemmaene kan knyttes opp mot andre deler av pensum, så det er viktig å få en dypere forståelse av hvert dilemma så du kan trekke linjer mellom dilemmaene og resten av pensum.
  • Lær deg navn og ståsted til alle involverte i hvert dilemma. Mest sannsynlig vil en av oppgavene være at du skal skrive et brev eller rapport i navnet til en av personene fra dilemmaene, så da må du vite hva de mener om saken. Her er det lett for sensor å se om du har lest pensum eller ikke.
  • Lær deg dimensjonene. Hvem som har utredet dimensjonene er ikke så viktig, men forstå hva de handler om, og knytt de syv landene vi har om opp til hver dimensjon. Det er mange dimensjoner å huske (13 stk.), så her er det bare å pugge.
  • På eksamen kan du ta med en engelsk-engelsk ordbok OG en engelsk-norsk norsk-engelsk ordbok

Dette er temaene som bør kunnes til eksamen, husk også at det kan trekkes en rød tråd gjennom de fleste temaene.

  • Gesteland (klikk)
    • Deal-focused vs. Relationship-focused
    • Hierarchical(formal) vs. Egalitarian(informal)
    • Time and scheduling
    • Expressive vs. Reserved
  • Hofstede
    • Power Distance
    • Individualism vs collectivism
    • Uncertainty avoidance
  • Trompenaars
    • Universalism vs particularism
    • Achievement vs ascription
    • Inner- vs outer directed
  • GLOBE
    • Performance orientation
    • Gender egalitarianism
    • Assertiveness 

Har du skrevet noen gode notater andre kan ha nytte av kan du gjerne sende det til meg på mail, bihjelpen@outlook.com, så kan jeg dele det her. Sammen kan vi hjelpe hverandre til å bli bedre! 

Til alle som skal opp i eksamen i Business Communication og Bedriften denne høsten anbefaler jeg dere å sjekke ut ACE Education sin nettside og App. Her finner dere en rekke quizer relatert til relevante fag. Jeg anbefaler dere å laste ned appen, så kan dere øve til eksamen når dere sitter på bussen eller ikke har bøkene tilgjengelig. Og best av alt: Appen helt gratis å laste!

Foreløpig ligger det kun to BI quizer ute, men snart kommer det flere. Lik de gjerne på Facebook også for å holdere dere oppdatert.

 

Hvis denne bloggen er til hjelp for deg og du ønsker at bloggen skal fortsette å levere hadde jeg satt utrolig stor pris på et lite bidrag gjennom denne nettsiden: 

https://www.gofundme.com/hjelp-bihjelpen&rcid=r01-153979653098-b53392433a3c437c&pc=ot_co_campmgmt_w

 

Lykke til :-)

Fons Trompenaars

Riding the Waves of Culture: Understanding Diversity in Global Business, Fons Trompenaars and Charles Hampten-Turner, 3rg ed. Nicholas Brealey Publishing, London (2012)  p. 99-127 in CoA 1

A brief summary on three of Trompenaars dimensions

Relationship and Rules (Universalism vs. Particularism)

This dimension defines how we judge other people's behavior.

Universalism

Universalism is rule-based and behavior tends to be abstract. The rules and laws in your society control your behavior, and you would not cross the road on a red light simply because it is against the rules. In this kind of society everyone is expected to be treated the same, they universally agreed on the terms, and therefor they should all follow them. The Golden Rule applies in a universalistic society. ?Do not lie. Do not steal. Do unto others as you would have them do unto you?

Universalistic countries are often also Protestants.

Particularism  

Particularism focuses more on relationships we have to other people. "X is my dear friend, so obviously I would not lie to him or steal from him. It would hurt us both to show less then kindness to one another". Relationships are more important than laws and rules.

Particularistic countries are often Catholic.

 

The Car and the Pedestrian, p.104 CoA 1

This is a dilemma that measures universal and particularist responses.  

Consider for a moment this dilemma: You are a passenger in a car driven by a close friend, and your close friend's car hits a pedestrian. You know that your friend was going at least thirtyfive miles an hour in an area where the maximum speed was twenty miles an hour. There are no witnesses. Your friend's lawyer says that if you testify under oath that the speed was only twenty miles an hour then you would save your friend from any serious consequences. What would you do? Would you lie to protect your friend?. What right does your friend have to expect your help?. On the other hand what are your obligations to society to uphold the law?

The results shows that North Americans and most northern Europeans emerge as almost totally Universalist in their approach to the problem. For Japan, China and France, the proportion falls to less than 75 %. In other words, they would lie to save their friend (particularist). The Universalists? response to help their friends decrease depending on how bad the pedestrian is injured. In other words, if the pedestrian barely was injured, the Universalist person could lie to the police, if the pedestrian died, the Universalist person would be honest to the police. The US is the country with the most lawyers in the world, and cases like the car and the pedestrian is expected to be solved in court.

On the other hand, particularists are more likely to supports their friend as the pedestrian?s injuries increase. ?My friend needs my help more than ever now that he is in serious trouble with the law? Universalists would regard such an attitude as corrupt. If everyone behaved in such matter, the system would collapse. Particularists are often Catholics and in this situation it would be common to think that God probably understand that you were lying for your friends, particularly one who had the bad luck to have the stupid pedestrian crossing in front of his car.

The result p. 105: China got a score of 47/100. The US got a score of 93/100. Which makes the China the most particularistic country and The US the most Universalistic country.

The Bad Restaurant p. 107 in CoA 1

You are a newspaper journalist who writes a weekly review of new restaurants. A close friend of you sunk all her savings in a new restaurant. You have eaten there, and you really think the restaurant is no good. What right does your friend have to expect you to go easy on her restaurant in your review?

A Universalists view is that as a journalist, you are writing for everyone, the universe of readers, not for your friend. You are obligated to be honest, or else you will be lying to the society, which in unmoral.

The result p. 108: China agree the least on this with a score of 50/100. Which means China is the country that would most likely write a false review (most particularistic). The US got the highest score with 66/100 (most universalistic), which means that Americans in general would not lie about the review. Norway was not included in the research.

 

The Doctor and the Insurance Company p. 107 in CoA 1

You are a doctor for an insurance company. You examine a close friend who needs more insurance. You find he is in good shape, but you are doubtful on one or two minor points that are difficult to diagnose. What right does your friend have to expect you to tone down your doubts in his favor?

The result p. 109: France got the lowest score of 54/100, which means that French people are most likely to lie about their friend?s health and tone down their doubts. 54 % of the French would lie about their friend, and 46% would not. Japan got the highest score of 64/100 (most , which means Japanese people are most likely not to lie about their friend?s health to benefit for insurance. 65 % would tell the truth and 36 % would lie.

 

In contrast:

Business people from both dimensions tend to think the other part is corrupt. Universalists will say of particularistic, ?They cannot be trusted, because they will always help their friends?, and a particularistic, conversely, will say of Universalists, ?you cannot trust them; they would not even help a friend?. Both terms are of morally character, but Universalists think about a situation as wrong because one is breaking the rules, but particularists think it is wrong because your friend or someone you know is affected in a negative way etc.

Ex: Bullying is wrong because being bully is a terrible experience for the person being bullied (particularism) vs. Bullying is wrong because it is against the rules (Universalism). Both terms agree on the action is wrong, but based on different reasoning.

Bottom line: Particularists think about the individuals, while Universalists thinks about everyone should be treated the same.

 

Recognize the difference

Universalist

  1. Focus is more on the rules than in relationships
  2. Legal contracts are readily drawn up
  3. A trustworthy person is one who honors his or her word or contract
  4. There is only one truth or reality, that which has been agreed to
  5. A deal is a deal

Particularist

  1. Focus is more on relationships than on rules
  2. Legal contracts are readily modified
  3. A trustworthy person is one who honors changing mutualities
  4. There are several perspectives on reality relative to each participant
  5. Relationships evolve

Universalism

Particularism

US, UK, Germany, Norway

China, Japan, France

 

This graph shows how many percent of the population in each country would NOT lie in the examples from the book. The higher the score, the more Universalist and honest (according to rules), the lower the score, the more particularist and dishonest (according to rules).

 

The Car

The Restaurant

The Doctor

Average

USA

93 %

66 %

57 %

72 %

UK

91 %

58 %

60 %

69,6 %

Germany*

87 %

61 %

 

(74 %)

France

73 %

63 %

54 %

63,3 %

Japan

68 %

55 %

64 %

62,3 %

China

47 %

50 %

57 %

51,3 %

 

 

*Germany was not included in the last example, so the statistic on the average score are not representative of how universalist/particularist Germany is. Germany is considered to be between UK and France.

 

How we accord Status (Achievement vs. Ascription)

Some societies accord status to people based on achievement, others accord status based on their age, class, gender, education etc. (ascription).  Achieved status refers to doing, ascribe status refers to being.  

Achievement

People who work hard, earn status based on their achievements. The same essence on achievement-oriented cultures can be found in protestant cultures. It is typical not to use titles, when referring to people unless it is relevant to the competence the person brings to the task. Respect in hierarchy is given based on how effectively they perform their jobs, and how adequate their expertise is. Titles are given on a matter of merit.

Ascription

In ascription-oriented cultures, social status is given on the basis of the family you happen to be born in to. Titles are often ascribed by birth, and not something, you have to earn, like on achievement-oriented cultures. Titles are given on a matter of birth and family, what school you attended, gender, age etc. It is common to use titles when clarifying the person?s status in the organization. Respect for superiors in the hierarchy is seen as a measure of people?s commitment to the organizations and its mission. Most senior managers are men, elderly and qualified by their background, family name for instance.

Achievement

Ascription

US, UK, Germany, Norway

China, Japan, France (in the middle)

 

 

How we relate to Nature (Inner oriented vs. External Oriented)

There are two major orientations toward nature in societies that conduct business. Either they believe they can control the nature and environment, you have to create the marked and demand. Or, they believe that nature is not something you can or should try to control. Humans are a part of the nature, and must go along with its laws, directions and forces.

Inner oriented

Managers are never happier than when they have won over other people to their own way of thinking.

You need to create the marked. Like Steve Jobs did when he introduced iphones to the marked, there were no demands for smart phones before he created it. Or, like Bill Gates, no one needed a computer until he made everyone need it. In outer-directed cultures, they adapt to an already existing marked. Inner-oriented cultures are more progressive and innovative. People from inner-oriented cultures tend to be perceived as aggressive. Conflicts and resistances means you have convictions. People tend to be uncomfortable when the environment seems "out of control" or changeable.

When doing business with inner-oriented people, make sure to set clear and reachable goals, discuss disagreements and conflicts openly, be determined, and be committed.

External/outer Oriented

People in outer-oriented cultures tend to adapt to the environment, and do not see the need to control or make it. You have to live in harmony with the nature. People exhibit an often flexible attitude, and are willing to compromise and keep peace. The focus is on the other, such as the costumer, partner, or coworker. People are comfortable with changes, shifts, waves and not knowing what the future is going to bring.

When doing business with outer-oriented people, one will be rewarded when showing patience, politeness, softness and trying to maintain your relationships with partners.

Inner-directed

Outer-directed

US, UK, Germany, Norway, France

China, Japan and most Asian/Muslim cultures



Ethical Dilemma One

Do the Ends Justify the Means?

Three Ethical Dilemmas, Brown, Mark and Cleaverly, 2010. page. 17

The parties involved:

Garrett Welch - Chairman and Group CEO, 59 years old

His business style is to identify promising managers and to give them relatively free hands to achieve results. He is a firm advocate of delegation and believe that people should be empowered and trusted, not supervised and controlled. He believes that people are honest and can be relied upon to act responsibly. His policy has resulted in the success of many companies in the Tamarind Group. 

Richard Deakin - President of West Coast Operations and CEO of Columbia Solutions

Welch hired Deakin three years ago. Has an MBA from McGill University in Montreal. Worked six years for Microsoft before he got the job as the president of west coast operations. Firmly believes that individuals are motivated by the possibility of personal gain, and therefor introduced generous group bonus schemes based on profit. He adopted the same arm?s-length business style that Welch firmly believed in.

Catherine Simpson - Head of Sales at Columbia Solutions

Defender of Deakin's actions/techniques. None of Deakin?s practices could be called corrupt.

Ray Wilson - Financial Controller at Columbia Solution.

Older man. Been with the company from the outset. Wilson had certain misgivings about Deakin?s practices. He questioned the ethics of several of the business practices used by CS. He received a bonus from Deakin, but for sake of a clear conscience, he donated all of it to local charity.

 

The company: The Tamarind group

  • A medium-size corporation listed on the Toronto Stock Exchange
  • Owns a number of IT and Media related companies in Canada
  • Founded some 25 years ago by Garrett Welch

Columbia Solutions

  • The largest daughter company owned by The Tamarind Group on the west coast
  • Specializes in customized software
  • A Part of the West Coast Operations and controlled by Richard Deakin.
  • Located in Hope, a small town north east of Vancouver
  • A very important contributor to the town, in terms of tax revenue and employment
  • Bought by the Tamarind group seven years ago, but so far, not been making profits.

Summary

Richard Deakin, a young, ambitious, successful businessman became The president of the West Coast operations, including their daughter company Columbia solutions, six years after graduation from the McGill university. He were very much trusted by the CEO of The Tamarind group, Garret Welch and was given free hands to do what it takes to turn loss in to profit. Within the first month of being the President of The West Coast Operations, Deakin had dispensed the services of eleven senior managers at Columbia Solutions. He replaced them with a completely new managing team, expect from one man, Ray Wilson, an older man who had been with the company from the outset.

He gave the new managing team clear and ambitious financial goals.  Deakin firmly believed that people are motivated by the possibility of personal gains, and therefor he introduced them to generous group bonus schemes based on profit. The new team was required to report key financial data to Deakin once a month, but beside from that Deakin generally left the new team to themselves.

At the end of the first full financial year, Deakin?s team had turned loss into modest profit. Within the next three years, the team had managed to seal several very lucrative contracts, and made huge profits. Welch had every reason to feel pleased with the decision he made three years earlier to entrust Deakin with West Coast operations. The results continued to be excellent.

Recently, Welch had a bad feeling about the success of West Coast Operations and Deakin. He uncovered a series of practices and financial transactions that constitute an ethical dilemma of dimensions. He arranged a meeting with the Head of Sales at Columbia Solutions, Catherine Simpson. She outlined a number of promotional techniques that the managing team had adopted over the past three years:

  1. CS invited key decision makers from the public and private sectors to an exclusive hotel for a three-day ?briefing meeting?, with their spouses to enjoy the skiing facilities. The meetings lasted for two hours every morning. CS footed the bill.
  2. CS spend huge amount of money on wine merchant given to individual customers.
  3. Many unspecified consultancy services, with no record of recipients
  4. The daughter of an important customer was offered a job at the company.
  5. CS acquired a mountain lodge that was lent out to both employees and customers.
  6. CS donated two incubators to a hospital in Vancouver that happened to be one of CS?s major customers.
  7. Almost CND $ 100.000 was spend at a jewellery store in Hope. The items bought was gifts to valued business partners with the logo of CS presented on. There was no record of the actual recipients.

Simpson argued that some of the practices might be in an ethical grey area, but none of them could be called corrupt. She claimed that Deakin had made it perfectly clear to the new team that their sole responsibility was to generate a rapid increase in sales: Something which they had accomplished. None of the team managers had questioned the ethics of the company, except from Ray Wilson. He made his opposition clear within the group, but was overruled. He received one of Deakin?s bonuses, but for the sake of a clear conscience, he donated the money to charity.

After this disturbing news, Welch was given five days in order to decide what to do.

 

Consequentialist thinking

 ?? at no time had Deakin shown any particular interest in the specific practices being used to increase sales, but had been more than happy with the results achieved? This phrase illustrates consequentialist thinking.  He believed that people are motivated by the possibility of personal gain, and therefor he introduced bonus schemes based on profits for his management team. Once Deakin had made the changes and given instructions to the new management team, he turned his attention to other companies he was responsible for as the president of West Coast Operations. He generally left the management team to themselves.

GLOBE

Culture, Leadership, and Organizations: The GLOBE study of 62 Societies, Robert J. House (ed.), Sage, Thousand Oaks, Calif. (2004)

p. 99-127 in CoA 1 - A brief summary on three of GLOBEs dimensions

 Global Leadership and Organization Behavior Effectiveness

Contains 9 dimensions: Practices (as is), and value (should be)

Norway is not included in this research.

 

Performance Orientation

Performance orientation reflects the extent to which a community encourages and reward innovations, high standards, and performance improvement. It is a high need of achievement and with achievement comes respect. (Grove 2005)

According to Max Weber the fundamental difference between Catholic and Protestant religions, lies in their approach to work and perform in this world. He argued that Catholicism focused in ?good work? as the exclusive path to salvation, and spending time and energy in earthly activities was nothing but waste of the opportunity to prepare for the eternal world, this is similar to a cultures with low performance orientation. In contrast, the Protestant doctrine introduced the idea of work as a calling. Similar to cultures with high performance orientation.

In the US and Norway, they believe in getting the job done even at the expense of individual freedom, and that respect does not depend on family background.

In contrast, individuals from cultures with lower performance orientation, tend to prefer individual freedom even at the expense of getting the job done, and believe in family background as the key determinant of social respect.

From highest to lowest on performance orientation: US, China, Germany (west), Japan, France, Germany (East), England

This dimension is slightly similar to Gestelands deal- vs relationship focused dimension and Hofstedes individualism/collectivism dimension.

A high score on performance orientation

A country with a high score on performance orientation focuses on training and development, emphasis on results over people, assertiveness, and competitiveness, direct communication, often monochronic. Cultures that scores high on performance orientation is often protestant. The protestant ethic is a special case of a universal achievement ethic, focusing on individual responsibility, hard work, knowledge and challenge.

Achievement-oriented societies tend to accord status in the basis of accomplishments. People are often evaluated on what they have achieved, how they perform and results given.

Key words: Achievement, performance, Protestants, accomplishments, feedback, training, development, emphasize results more than people,  reward performance, value assertiveness, competitiveness, materialism, expect demanding targets, believe that individuals are in control, taking initiative, bonuses, financial rewards, anyone can succeed, schooling and education are critical for success, value being direct, direct communication, monochronic approach to time, have a sense of urgency.

A low score on performance orientation

A country with a low score on performance orientation focuses on traditions, family, affiliation and social ties. Social values are valued more than achievement. Emphasizes on loyalty and belonging, assertive ness are unacceptable. Very often polychromic.

Tend not to value feedback; they see as an evaluation of who the person is rather than of how he or she is doing.  As one French manager explained: ?The French get offended by positive or negative feedback. If you are questioning by job, you are questioning my honor, my value, and my very being?.

Key words: family, Catholicism, promotion based in seniority, gender, age, importance of family background, emphasize loyalty and belongingness, high respect for quality of life, harmony, emphasize integrity, view assertiveness (confident and direct in claiming one's rights, not aggressive) as socially unacceptable, money as motivation is inappropriate, merit pay as potentially destructive to harmony, attending the ?right? school as an important success criterion, traditions, high on sympathy, value who you are more than what you do, age is important to get promoted, polychromic approach to time, low sense of urgency.

 

Cross-Cultural Differences in Gender Egalitarianism

To which extent an organization or society minimizes gender role differences while promoting gender equality.

Gender Egalitarianism = minimizing differences between roles.

Making and bearing children are absolute sex differences, all other differences are statistical. Woman not only bear children, but also feed and nurture them. Hence, the responsibility for nurturing people generally, and children, more specifically, falls on women. Men, on the other hand, are placed in charge of economic matters.

From the highest to lowest score on Gender Egalitarianism, based on Social Practices( p. 152): England (3.67), France (3.64), US (3.34), Japan (3.19) Germany (3.10 and 3.06), China (3.05)

The average on GLOBEs research was 3.37, meaning that The US, Japan, Germany and China is below average on Gender Egalitarianism, even though it is not very low in either country.

The minimum score was 2.50

The maximum score: 4.08

A high score on Gender Egalitarianism

Members of societies with more Gender Egalitarian values would prefer less active governments. They would prefer their government to stay out of the business of business, and for people to take responsibility for themselves.

Key words: More female leaders, similar levels of education between men and women, less occupational sex segregation, greater longevity, knowledge, greater standards of living, happier, generally more satisfied with their lives, greater economic prosperity, productivity, higher GNP per capita, greater acceptance of change, greater personal freedom for women, dislike of democracy,  

A low score on Gender Egalitarianism

Key Words: Few female leaders, more occupational sex segregation, basically just the opposite of everything mentioned under cultures with high scores on Gender

Egalitarianism above.

 

Assertiveness

Being assertive means that you are confident and not afraid of expressing your opinions or believes. Selvsikker

In which degree individuals in organizations or societies are assertive, confrontational and aggressive in social relationships.

It seems societies scoring high on Assertiveness tend to strive for less, and societies scoring low on Assertiveness express a desire for more. Too much assertiveness (competition, dominance and aggression) in a business culture can create an unsafe, untrusting environment. On the other hand, a business culture with too little assertiveness may be experienced as weak. In most business cultures ii is necessary with a certain level of competition and dominance to survive.

 

A high score on Assertiveness

Values assertive, dominant and though behavior for everyone in the society.

Key words: sympathy for the strong, value competition, believes that anyone can succeed if he or hse tries hard enough, values success, progress, direct communication, to the point in conversations, expressive, reveals thoughts and feelings, being aggressive can help you win, try to control the environment, competition, performance, ?can-do? attitude, emphasize results over relationships, taking initiative, expect demanding and challenging targets, individuals are in control, build trust on the basis of capabilities, act and think of others as opportunistic.

 

A low score on Assertiveness

Key words: view assertiveness as socially unacceptable and value modesty and tenderness, sympathy for the weak, value cooperation, associate competition with defeat and punishment, relationship over business, indirect communication, emphasize ?face-saving?, harmony, aggression only leads to negative outcomes, harmony with the environment rather can to control it, traditions, seniority experience, loyalty, view ?merit pay? as potentially destructive to harmony, value who you are more than what you do,  

 

Geert Hofstedes Dimensions

Culture and Organizations: Software of the Mind: Intercultural Cooperation and Its Importance for Survival, G. Hofstede, G.J. Hofstede and Michael Minkov, 3rg ed.

- A brief summary on three of Hofstedes dimensions,  p. 61-96 in CoA 1

 

Power Distance

Key differences between small- and large-power distance societies (p.71 in CoA 1)

Small power distance

  1. Hierarchy in organizations means an inequality of rules, established for convenience
  2. Decentralization is popular
  3. There are few supervisory personnel
  4. There is a narrow salary range between the top and the bottom of the organization
  5. Managers rely on their own experience and on subordinates(Underordnede)
  6. Subordinates expect to be consulted.
  7. The ideal boss is a resourceful democrat
  8. Subordinate-superior relations are pragmatic
  9. Privileges and status symbols are frowned upon
  10. Manual work has the same status as office work
  11. Younger bosses are generally more appreciated then older ones

Countries with small power distance (from lowest to higher):

Norway, Germany, UK, USA.

Large power distance

  1. Hierarchy in organizations reflects existential inequality between higher and lower levels
  2. Centralization is popular
  3. There are more supervisory personnel
  4. There is a wide salary range between the top and the bottom of the organization
  5. Managers rely in superiors and on formal rules
  6. Subordinates expect to be told what to do
  7. The ideal boss is a benevolent autocrat, or ?good father?
  8. Subordinates-superior relations are emotional
  9. Privileges and status symbols are normal and popular
  10. White-collar jobs (kontorjobber) are valued more than blue-collar jobs (fysisk arbeid).
  11. Older bosses are generally more appreciated then younger ones

Countries with large power distance (from lower to highest):

Japan (moderately), France (moderately) and China.

 

The hierarchical system in small-power?distance cultures is just an inequality of roles, established for convenience, and roles may be changed. Subordinates expects to be consulted before decisions that will affect them are made. The boss is the one taking the final decision, but the subordinates will be a part of it.

Small power distance

Moderately small power distance

Moderately large power distance

Large power distance

Norway

Germany

UK

USA

Japan

France

China

 

 

Individualism vs. Collectivism

 In Individualist societies people are only supposed to look after themselves and their direct family. In Collectivist societies people belong to ?in groups? that take care of them in exchange for unquestioning loyalty.

Individualism vs. Collectivism has to do with whether people?s self-image is defined in the terms as ?I? or ?we?. People in Individualism societies tend to look after them self and only the closest of family, and people in collectivism society?s people look at them self as a part of a bigger group and that takes care of each other.

The French combination of a high score on Power Distance and a high score on Individualism is rather unique. We only find the same combination in Belgium and, to some degree, in Spain and northern Italy

 

Individualistic

Moderately

Individualistic

Moderately Collectivistic

Collectivistic

USA, UK, France, Norway, Germany

 

Japan

China

 

 

Uncertainty Avoidance

This dimension has to do with how people and societies deal with the fact that no one can predict the future. Some cultures believe they can control the future of the nature, while others simple believe we just have to adjust to the nature. In other words, how we handle uncertainty. A human being have to face the fact that we do not know what will happen tomorrow: the future in uncertain, but we have to live with it anyway. Technology helps people to avoid uncertainties cause by nature.  Laws and rules try to control the behavior of people.  A high score on uncertainty avoidance indicates a society where people desire more stability, structure and rules, they do not like take risks. A low score on uncertainty avoidance indicates that the people are more comfortable with not knowing what the future is going to bring, they have a stronger urge to control, and predict the future. They are more entrepreneurial and more likely to take greater risks. They are less depending on rules and laws.

 

 

low on Uncertainty Avoidance

Moderately low on Uncertainty Avoidance

Moderately

High on Uncertainty Avoidance

High on Uncertainty Avoidance

China

USA

UK

Norway*

Norway*

Japan

France

Germany

* Norway scores 50 and thus does not indicate a preference on this dimension.

 

 





 

 

 

Consequentialism vs. Deontology

 

According to many philosophers, any kind of ethical reasoning can be classified as either consequential or deontological thinking. Each represents a type of moral reasoning that is applicable to practical decisions in concrete situations.

 

Consequentialism or Utilitarianism

First, let us define the two types theories and learn the difference. Utilitarian thinking or utilitarianism is a form of consequentialism. Consequentialism is a way of justifying our actions, by considering the consequences of our decision. So, if the result is good, the actions doesn?t matter, because the result is good. As mentioned utilitarianism is a form of consequentialism, and focuses on maximizing the good for the greatest number of people, while consequentialism only focuses on maximizing your own good. Also, consequentialisms main focus is on the consequences of our actions, in other words it is all about producing good results or consequences.

In ethical dilemma one in our curriculum, we are introduced to Richard Deakin, the president of West Coast Operations and CEO of Columbia Solutions. His mission was to turn Columbia Solution around, and make profit. That was his instruction, and that is what he did regardless of how he did it, he succeeded. Some of his actions were in a grey ethical area, and should not have been the way to do it. In his way of reaching his goal, he forgot, in some degree, about morals and ethics. He justified his actions by considering the consequences. Read the dilemma for a deeper understanding. Anyway, this in an example of consequential thinking. Where his goals, or the consequences were more important than the way of reaching it. The hunger for success can make you lose control over what is right and wrong. Take Jordan Belford from the Wolf of Wall Street for instance,  

Another example would be that consequentialist thinkers believe that lying may be appropriate because the consequences of the specific action must be assessed based on each individual situation.

As John Stuart Mill put it, ?the greatest happiness for the greatest number? (utilitarianism) So if in doubt, choose what is best for most people.

?A rule utilitarian, believes that instead of consider the result of specific actions, one must weigh the consequences of adopting a general rule exemplified by that action? (p. 36, CoA 2) In other words, one should act according to a general rule, and one should ?never vote in a way that lowers the self-respect of a given class of citizens?. The most common criticism of utilitarianism might be that since its focus is to choose what every gives the greatest pleasure for most people, there is always going to be someone treated unfairly. For example slavery. Enslaving 2 % of a population will give pleasure to 98 % of the population, but clearly, this is unjust and not morally the thing to do.

Jeremy Bentham (1747-1832), was a British philosopher that is regarded as the founder of modern utilitarianism. ?The principle of utility states that an action is right it if produces the greatest balance of pleasure or happens and unhappiness in light of alternative actions?.

Some philosophers argue that the proper focus for ethical judgement should not be on the consequences of our actions, but one should focus on the moral percepts.  This is what our next theory is about.

 

Deontology

Deontology is an alternative theory to consequentialist thinking. This moral theory proposes that one should make decisions based on rules or to fulfilling duties. The word deontological comes from the Greek word for ?duty?, which will be the foundation of this theory. There are two important approaches to this theory. The first one focuses on ?duty and universal rules to determine right actions? the second one is known as the ?social contract? approach, which focus not on individual decision-making but rather on ?the general social principles that rational persons in certain ideal situations would agree upon and adopt?.

Immanuel Kant, one of the most central philosophers of modern philosophy strongly believed in that ethical reasoning should concern activities that are rationally motivated and should utilize precepts that apply universally to all human actions.  Kant argued that it is not the consequences of our actions that makes them right or wrong, but the motives of our actions. For example, if you find a wallet on the street you should always return it to its owner. You should always ?return property that belongs to other?. Even if you were to give the money from the wallet to a children?s hospital, for Kant, you must still return the wallet with all the money. It is not your money to donate. In consequentialism, donating the money would give ?greater pleasure to a greater number of people?, therefor right it would be the right thing to do for a consequentialist, but according to Kant that would morally wrong. Your duty is to return the wallet to the owner. So, how can you know what your duty is? According to Kant ?duty is more than doing merely what you ?feel? is right. Duty is acting with respect for other rational beings?. Also, ?one should always respect every person as a rational and free being?.

As with utilitarianism, critics challenge deontological reasoning as well. A dilemma from page 39 in CoA 2, described the dilemma of a soldier named Jean-Paul Sartre from Word War 2. He was forced to choose between going to war and fight for the freedom of France, or stay home taking care of his ill mother and father. These are two conflicting principles, almost impossible to choose between. If he chose to stay home with his parents, what would it be like if everyone did that?

 

This was only a brief introduction to relevant ethical theories that will be necessary to understand to analyze the three ethical dilemmas in out curriculum.

 

Sources:

Collection of Articles 2, Derek Matthews, 2015

Introduction to Ethical Reasoning, T. Donaldson, P. Werhane and J. Van Zandt, Prentice Hall, New Jersey, 2008

http://www.differencebetween.com/difference-between-consequentialism-and-vs-utilitarianism/ Postet 16.08.2012, hentet 30.10.2015

Countries by Dimensions

Gesteland

Deal-focused vs. Relationship-Focused

Deal-focused cultures

Moderatly deal-focused

Relationship-focused

England, USA, Norway, Germany

 

Japan, China, France

 

 

Hierarchical (formal) vs. Egalitarian (informal)

Informal, Egalitarian cultures

Formal, Hierarchical cultures

USA, Norway

China, Japan, France, Germany, England

 

Time (Monochronic vs. Polychronic)

Monochronic business cultures

Variably monochronic

Polychronic business cultures

Germany

Japan

Norway

England

USA

China

France

 

 

Expressed vs. Reserved

Very Expressive cultures

Variable Expressive

Reserved Cultures

Very Reserved

France

USA

Norway

England

Germany

China

Japan

 

 

Hofstede

Power Distance

Small power distance

Moderately small power distance

Moderately large power distance

Large power distance

Norway

Germany

UK

USA

Japan

France

China

 

Individualism vs. Collectivism

Individualistic

Moderately

Individualistic

Moderately Collectivistic

Collectivistic

USA, UK, France, Norway, Germany

 

Japan

China

 

Uncertainty Avoidance

low on Uncertainty Avoidance

Moderately low on Uncertainty Avoidance

Moderately

High on Uncertainty Avoidance

High on Uncertainty Avoidance

China

USA

UK

Norway*

Norway*

Japan

France

Germany

* Norway scores 50 and thus does not indicate a preference on this dimension.

 

Trompenaars

Relationship and Rules (Universalism vs. Particularism

Universalism

Particularism

US, UK, Germany, Norway

China, Japan, France

 

How we accord Status (Achievement vs. Ascription)

Achievement

Ascription

US, UK, Germany, Norway

China, Japan, France (in the middle)

 

How we relate to Nature (Inner oriented vs. External Oriented)

Inner-directed

Outer-directed

US, UK, Germany, Norway, France

China, Japan and most Asian/Muslim cultures

Richard R. Gestelands dimensions

Cross-Cultural Business Behavior - A guide for Global Management, Richard R. Gesteland 5th ed. Copenhagen Business School Press (2012) p. 1-60 in CoA 1

A brief summary on four of Gestelands dimensions.

 

Kan noen som tar Business Communication i år sende en mail til meg på bihjelpen@outlook.com for å svare på noen få spørsmål. Jeg tar ikke kurset selv dette semesteret, så det kun for å få større innblikk i hva som forventes av dere på eksamen, så det blir lettere for meg å hjelpe dere til en god karakter :)

 

Two Iron Rules of International Business

  1. In international business, the visitor is expected to understand the local (host) culture.
    1. Ru xiang sui su // Enter village, follow customs
  2. In international business, the seller is expected to adapt to the buyer
    1. The customer is king(except in Japan, where the customer is God)

Gesteland has seven dimensions on cross-cultural business behavior, but in our syllabus, we only need to focus on four of them:

  1. Deal-focused vs. Relationship-focused
  2. Hierarchical(formal) vs. Egalitarian(informal)
  3. Time and scheduling
  4. Expressive vs. Reserved

Deal-focused vs. Relationship-focused

In deal-focused business cultures, people tend to value directness and going straight to business. Usually a person from a DF culture do not have time for a lot of small talk in a business meeting. It is not necessary to know the person or company on a personal level to get business done. DF people tend to value straightforward and direct language. Examples of DF cultures are USA, Norway, UK, Germany, and France (moderately deal-focused).

In relationship-focused business cultures, people tend to value relationships before doing business. Not knowing the other part before doing business, makes a person from an RF cultures nervous. Therefore, it is common to spend some time getting to know each other before deciding on rather to do business or not. It is also common to do business with friends and family. RF people tend to value a more indirect approach while speaking to maintain harmony. They say what you want to hear, rather than the truth. Examples of RF cultures are Japan and China

 

Hierarchical (formal) vs. Egalitarian (informal)

Formal cultures tend to be organized in hierarchies reflecting major differences in status and power. It is not common to interact or do business with someone from a different ranking than yourself, and it is very important to show respect to people higher up in the hierarchy. Dressing formal is a sign of showing respect. Age, gender, rank, whether one is buying or selling, education and family background are the key determinants of status and power in most hieratical societies. Examples of formal/hierarchical business cultures are China, Japan, France, Germany, and England

 

Informal cultures value egalitarian attitudes and smaller differences in status and power. An open-door policy is common, and people tend not to be too concerned about other people?s status and titles while doing business, or simply just interacting.

Examples of informal/egalitarian business cultures are USA and Norway.

 

Time and scheduling

Rigid (monochronic) - vs fluid (polychromic) time

In monochronic cultures, punctuality is critical, schedules are set in concrete, agendas are fixed, and business meetings are rarely interrupted. Being late is considered rude and disrespectful. It can seem like the further north you get, the more punctual and monochronic the culture is. Examples of rigid-time (monochronic) cultures are Germany, Japan, Norway, England and USA

 

People in polychromic cultures pays less emphasis on strict punctuality, are more likely to miss deadlines and tend to value loose scheduling as well as business meetings where several meetings-within-meetings may be taking place simultaneously. A positive effect of this is that the meetings are more flexible and it is more room to be innovative and creative. Examples of variably fluid-time (polychromic) cultures are France and China.

None fluid-time cultures are included in our syllabus. 

 

Expressive vs. Reserved

Nonverbal communication (Body language)

Body language varies from culture to culture, and can easily be misunderstood.

Examples of expressive cultures are France and USA

Examples of reserved cultures are Norway, England, Germany, China and Japan

 

Aside from writing we communicate in three ways:

  • Verbal (spoken words)
  • Paraverbal (how loud we speak, and the meaning of silence, something between verbal- and nonverbal communication)
  • Nonverbal (body language)

Paraverbal communication

Reserved people tend to be more soft-spoken, they feel at ease with silence during a conversation to not overlap someone that is talking. Appreciate silence during a conversation.

Expressed people are often loudly enough to be heard clearly and often raise their voice to emphasize important points. They tend to be uncomfortable with more than a few seconds of silence. Tend to overlap other speakers.

 

The four key elements of nonverbal communication:

Proxemics (Interpersonal distance, space bubble)

Haptics (touch)

Oculesics (eye contact)

Kinesics (Body movement)

Forum

 Jeg har nå opprettet et forum for hvert klassetrinn med tilhørende fag. Dette gjør det lette for dere å delta i faglige diskusjoner som jeg ser mange av dere har benyttet dere av i kommentarfeltet tidligere.

Eksamen høst 2014 Finans og økonomistyring 2

Det er flere som har spurt om hjelp til standardkalkyler hvor noe av informasjonen ikke er oppgitt, så da har jeg gått gjennom oppgave 7 og 10 fra eksamen høst 2014 hvor de spør etter beholdningsendring ferdigvare og resultatavvik i henhold til pris- og volumavvik. 


I: Driftsregnskapsmodeller

Industribedriften Flexus AS har budsjettert med følgende faste kostnader for 20x1:

Tilvirkningsavdeling 1 (T 1)      6 600 000

Tilvirkningsavdeling 2 (T 2)     12 000 000

Salgs- og administrasjonsavdelingen      5 592 000

Sum faste kostnader        24 192 000

Budsjettert salg (=produksjon) for januar var 2 000 enheter. På årsbasis er det forventet et salg

på 25 000 enheter. Bedriften har ikke budsjettert med beholdningsendringer av varer i arbeid

og ferdigvarer.

Standardkalkylen bedriften benytter, ser slik ut:

 




En enhet varer i arbeid (VIA) har fått tilført 80% av materialene, er 70% ferdig bearbeidet i

tilvirkningsavdeling 1, men ikke påbegynt i tilvirkningsavdeling 2 .

Påslaget i kalkylen for indirekte variable kostnader i tilvirkningsavdeling 1skal utgjøre 75%

av direkte lønn i tilvirkningsavdeling 1. Påslaget for indirekte variable kostnader i

tilvirkningsavdeling 2 skal utgjøre 90% av direkte lønn i tilvirkningsavdeling 2.  Påslaget for

indirekte variable kostnader i i salgs- og administrasjonsavdelingen skal utgjøre 5% av

variable tilvirkningskostnader.

Bedriften har også utarbeidet en selvkostkalkyle. Denne viser et påslag for faste kostnader i

tilvirkningsavdeling 1 (T 1) på kr 264  per enhet ferdigvare og kr 480 i tilvirkningsavdeling 2

(T 2) per enhet ferdigvare. I salgs- og administrasjonsavdelingen er påslaget for indirekte

faste kostnader kr 223,68 per enhet ferdigvare.

Bedriften benytter standardkostregnskap i sin økonomistyring. Dette regnskapet settes opp etter

bidragsmetoden. Bedriften satte i gang produksjon av 2 100 enheter i januar 20x1, ferdigproduserte

2150 enheter og solgte 2 160 enheter. Da regnskapstallene for januar måned 20x1 var klare, viste de at

bedriften hadde et positivt (gunstig) forbruksavvik på faste kostnader på kr 97 000. På de indirekte

variable kostnadene hadde bedriften et negativt (ugunstig) forbruksavvik på kr 46 000 og et positivt

(gunstig) effektivitetsavvik på kr 11 000. Materialavviket var negativt (ugunstig) og lik kr 41 000.

Totalt avvik på direkte lønnskostnader var negativt (ugunstig) og lik kr 51 400. Salgsinntektene var kr

456 000 høyere enn budsjettert.


Oppgave 7

Beregn beholdningsendringen for ferdigvarer i januar 20x1. Oppgi svaret både i antall enheter

og kroner. Angi om det er beholdningsøkning eller ?reduksjon.


Svar: 24.000

Løsning:

Beholdningsendring Ferdigvare:

Ferdigproduserte enheter: 2.150

Solgte enheter: 2.160

2.150-2.160= -10 = reduksjon i ferdigvarer

Videre skal vi finne ut hva dette utgjør i kroner og det ville vært en veldig enkelt jobb om vi hadde fått en ferdig utfylt standardkostkalkyle for da kunne vi bare lest ut i fra kalkylen hvor mye de variable tilvirkningskostandene for FV var på. Siden vi mangler en del informasjon valgte jeg å sette opp kalkylen for så å regne ut de manglene tallene

Direkte Materiale

180

Direkte lønn T1

400

Direkte lønn T2

800

Indir. Var. Kost T1

300

Indir. Var kost T2

720(oppgitt i kalkylen)

Variable tilv. Kost

2.400 (denne skulle vi finne)

S/A (5%)

120

Totale variable kostnader

2.520

Bud. Salgspris

4.200

For å gjøre det klart, så er det de variable tilvirkningskostnadene vi skal finne og de består av Direkte Materiale, Direkte lønn T1, Direkte lønn T2, Indir. Var. Kost T1 og Indir. Var kost T2. Indirekte variable kostnader på 720,- har vi fått oppgitt.

Alle svarere finner vi oppgave teksten, men vi må regne litt.

1.      Direkte materiale på 180kr regner vi ut ved å dele 144 med 0,8, siden vi fikk vite i oppgaveteksten at en vare i arbeid (VIA) har fått tilført 80% av materialene og i kalkylen er det oppgitt at direkte materiale på VIA er på 144kr, så da må en ferdigvare verdsettes til 180,- (144/0,8 = 180)

2.      Direkte lønn i T1 på 400kr fant jeg på samme måte. Vi får vite at varer i arbeid er 70% ferdig bearbeidet i T1, og at direkte lønn i T1 er på 280,-, så da må direkte lønn for ferdigvare bli: 280/0,7=400

3.      Direkte lønn i T2 på 800 fant jeg ved å se på oppgaveteksten hvor det stod: Påslaget for indirekte variable kostnader i tilvirkningavdeling 2 skal utgjøre 90% av direkte lønn i tilvirkningavdeling 2. Som vil si at de indirekte variable tilvirkningskostnadene i T2 på 720 er 90% av direkte lønn i T2, så da tok jeg 720/0,9= 800.

4.      Indirekte variable kostnader i T1 på 300,- Fra oppgavene vet vi har dette skal være 75% av direkte lønn i T1, så da ble regnestykket slikt: 400*0,75=300,-

5.      Indirekte variable kostnader i T2 har vi fått oppgitt som 720kr.

6.      Variable tilvirkningskostnader fant jeg ved å legge sammen alle de øvrige tallene, som ble 2.400.

Oppgavene spør etter beholdningsendringen i kroner og enheter. Vi regnet først ut at det var en reduksjon på 10 enheter, så må vi gange dette med variable tilvirkningskostnader for å finne verdien i kroner på reduksjonen. 10*2.400= 24.000

 

Oppgave 10

Vis ved en tallmessig oppstilling hvordan salgets resultatavvik for januar 20x1 er sammensatt av prisavvik og volumavvik. 

 

Virkelig salgspris:

Budsjettert salgspris * budsjettert salg = Budsjettert salgsinntekt

4.200 * 2.000= 8.400.000(Budsjettert salgsinntekt)

Budsjettert salgsinntekt +/- avvik = Realistisk salgsinntekt

Avviket får vi vite i oppgaveteksten at var gunstig og var på 456.000kr høyere enn budsjettert så regnestykket blir seende slik ut:

8.400.000 + 456.000= 8.856.000(Realistisk salgsinntekt)


For å finne virkelig salgspris må vi dele realistisk salgsinntekt på virkelig salg som er på 2.160 enheter. Dette er oppgitt i oppgaveteksten.

8.856.000 / 2.160 = 4.100kr (virkelig salgspris)

For å finne resultatavviket med hensyn til prisavviket gjør vi som følger:

Virkelig salg - budsjettert salg * antall enheter solgt = prisavvik

(4.100-4.200) * 2.160 = -216.000 (prisavvik)

 

Videre skal vi finne volumavviket

Formelen blir:

(Virkelig salg - Budsjetter salg) * budsjettert dekningsbidrag = volumavvik

Virkelig salg og budsjetter salg har vi fått oppgitt på henholdsvis 2.160 og 2.000 enheter.

Dekningsbidraget derimot må vi regne ut selv, og det gjør vi ved å ta trekke de totale variable kostnadene fra salgsprisen:

4.200 - 2.520 = 1.680

Regnestykket blir seende slik ut:

(2.160-2.000) * 1.680 = 268.800 (volumavvik)

 

Tilslutt skal vi finne resultatavviket som du finner ved å legge sammen pris- og volum avviket

 

268.800 - 216.000 = 52.800

Jeg trenger deres hjelp!

Hei alle fine blogglesere! 

Sponsoren min, Mojob har satt i gang en konkurranse blant alle ambassadørene i selskapet hvor konkurransen går ut på å få flest mulig til å laste ned Mojob-appen den neste uken. Jeg skriver denne bloggen helt frivillig, uten betaling, så jeg hadde blitt veldig glad om dere kunne gått inn på  http://mojob.no/BI,laste ned appen og hjulpet meg til å vinne! Det er viktig at dere laster ned gjennom min unike link for at det skal telle. Appen er forøvrig veldig nyttig for studenter som trenger en liten jobb ved siden av studiene og jeg har selv benyttet meg av den for å komme i kontakt med arbeidsgivere.  

Ellers vil jeg takke for mange hyggelige mail og kommentarer den siste tiden og jeg ønsker dere alle masse lykke til på alle kommende eksamener :-)




Øvings- og eksamensrelevanteoppgaver i ORG 3402 Organisasjonsatferd og ledelse.

Det er sikkert mange som sitter og leser til org. eksamen, så tenke vi kunne prøve å hjelpe hverandre litt. 

 

1. Definer begrepet organisasjon. Redegjør for de mest kjente klassiske modeller / teorier for 

organisasjonsstruktur / organisasjonsdesign i pensum. Redegjør deretter for nyere 

modeller/teorier for organisasjonsstruktur / organisasjonsdesign. Drøft så sammenhengen 

mellom modeller/teorier for organisasjonsstruktur/design og hvordan disse påvirker 

organisasjonsatferd. Gi eksempler.

 

2. Definer begrepet motivasjon. Drøft de ulike teorier om motivasjon, og hvordan teoriene 

beskriver forutsetninger for menneskelig ytelse i organisasjoner. Gi eksempler.

 

3. Hva menes med begrepet personlighet? Diskuter forholdet mellom de psykodynamiske, 

humanistiske og trekkteorier om menneskets personlighet, med hovedvekt på trekkteoriene. 

Hvilken betydning kan personlighet ha i arbeidslivet? Gi eksempler.

 

4. Definer begrepet persepsjon og beskriv grunnmekanismene i persepsjon. Beskriv også de 

mest sentrale mekanismene i sosial persepsjon og attribusjon og drøft konsekvenser av disse 

mekanismene i arbeidslivet. Drøft hvilke konsekvenser det kan få i arbeidslivet at mennesker 

persiperer fysiske og sosiale fenomener ulikt. Illustrer med eksempler.

 

5. Definer begrepet beslutning. Redegjør deretter for de mest sentrale teoriene om beslutning, 

herunder klassisk beslutningsteori, prospektteori, og økologisk rasjonalitetsteori. Beskriv også 

strategier og fordreininger i bedømmelser. Drøft til slutt hva som kan regnes som en god måte 

å ta beslutninger på. Gi eksempler.

 

6. Hva er læring? Definer begrepet og drøft hva som kjennetegner de mest sentrale formene 

for læring og hva som er kjennetegn ved lærende organisasjoner. Gi eksempler.

 

7. Beskriv sentrale aspekter ved emnene emosjoner, jobbholdninger og arbeidsmiljø. Bruk 

deretter teorier og begreper om disse emnene til å belyse hva som kan skape positive 

relasjoner, prosesser og resultater i organisasjoner. Gi eksempler.

 

8. Forklar hva som menes med begrepene innflytelse, påvirkning, makt og politikk. Gjør så 

rede for ulike påvirkningsmetoder. Drøft deretter makt og underkastelse med utgangspunkt i 

Milgrameksperimentet. Gi eksempler på påvirkning, maktbruk og reaksjoner på maktbruk fra 

arbeidsliv og dagligliv. 

 

9. Drøft begrepene lederskap og administrasjon (leadership og management) og deretter 

lederens ulike roller. Beskriv deretter sentrale aspekter ved kommunikasjon og drøft hvorfor 

kommunikasjon er sentralt i ledelse. Gi eksempler.

 

10. Hva menes med begrepet ledereffektivitet? Beskriv så sentrale sider ved de ulike teoriene 

om ledelse herunder også om lederes kjønn har innflytelse på ledereffektivitet. Illustrer med 

eksempler.

 

11. Flere teorier hevder at ledere må kunne tilpasse seg en rekke ulike situasjoner, også 

ledersituasjoner hvor medarbeiderne er i stand til å lede seg selv. Drøft dette i lys av teorier 

om situasjonsbestemt ledelse og selvledelse. Gi eksempler.

 

12. Hvilke hovedtyper av organisasjonsendringer kjenner du til og hvilken rolle spiller 

endringsledelse i slike endringer? Drøft endringsledelse i lys av teori om organisasjonskultur 

og kompetanseendringstiltak, herunder jobbanalyse, motivasjonstiltak, opplæringstiltak og 

rekruttering. Gi eksempler.

 

13. Hva menes med begrepet gruppe i organisasjonspsykologisk sammenheng? Beskriv videre 

hva som er forskjeller og likheter mellom en gruppe og et team. Drøft så forhold som hindrer 

eller støtter gruppers optimale funksjon. Hva kan beskrives som god ledelse av team? Gi 

eksempler.

Teorispørsmål Finans og Økonomistyring 1

Her kommer alle teorispørsmålene og sensorveiledningene som er gitt på tidligere eksamener i finans og økonomistyring 1

1. Forklar hvilke kostnadstyper vi har i tabellen nedenfor. Du skal begrunne svaret og ikke bare oppgi kostnadstype. Produksjonsmengden er oppgitt i antall enheter. Produksjonsmengde 0 1000 2000 3000 4000 Kostnadstype I Kr 5 mill Kr 5 mill Kr 5 mill Kr 8 mill Kr 8 mill Kostnadstype II Kr 7 mill Kr 7 mill Kr 7 mill Kr 7 mill Kr 7 mill Kostnadstype III 0 Kr 2 mill Kr 4,2 mill Kr 6,6 mill Kr 9,2 mill Kostnadstype IV 0 Kr 2 mill Kr 4 mill Kr 6 mill Kr 8 mill Kostnadstype V 0 Kr 2 mill Kr 3,6 mill Kr 4,8 mill Kr 5,6 mill

Svar: 11. Begrepene er forklart i Sending kap. 3. Kostnadstype I: Sprangvis faste kostnader Kostnadstype II: Driftsuavhengige faste kostnader Kostnadstype III: Overproporsjonale variable kostnader Kostnadstype IV: Proporsjonale variable kostnader Kostnadstype V: Underproporsjonale variable kostnader

 

2. Hva menes med alternativkostnad? Belys svaret med et talleksempel. III. Regnskap og budsjettering (30 %)

Svar: 17. Se Sending: Økonomistyring I s. 129 og s. 198.

 

3. Hva går opptjeningsprinsippet ut på? Belys svaret ditt med et talleksempel.

Svar: 18. Se Sending: Økonomistyring I s. 326.

 

4. Hva går sammenstillingsprinsippet ut på? Belys svaret ditt med et talleksempel.

Svar: Se Sending: Økonomistyring I s. 327.

 

5. Hva menes med sunk costs? Belys svaret ditt med et talleksempel

Svar: Se Sending: Økonomistyring 1, s. 129.

 

6. Forklar hva som menes med nåverdiprofil. Benytt diagram/figur for å underbygge tekstsvaret ditt.

Svar: 1. Nåverdiprofil er en kurve som viser nåverdien av en gitt kontantstrøm ved ulike avkastningskrav. I et diagram hvor avkastningskravet avsettes langs vannrett akse og nåverdi i kroner langs loddrett akse, vil kurven falle mot høyre ved økende avkastningskrav, når vi har å gjøre med et investeringsprosjekt. Hvis vi har å gjøre med et finansieringsprosjekt, vil kurven stige mot høyre.

 

7. Forklar hva som menes med faste kostnader. Gi eksempler.

Svar: 9. Se Sending: Økonomistyring I, kap. 6.2.5 og 6.2.6.

 

8. Hva er normale forutsetninger ved nullpunktanalyser (KRV-analyser)?

Svar: 10. Se Sending: økonomistyring I, kap. 10.6.

9. Hva menes med anleggsmidler? Gi eksempler.

Svar: Se Sending: Økonomistyring I, kap. 14.2, s. 331 ? 333.

 

10. Redegjør for ulike avskrivningsmetoder som en bedrift kan benytte i årsregnskapet. Belys svaret ditt med talleksempler.

Svar: Se Sending: Økonomistyring I, kap. 14.2.3.

 

11. Forklar hva som menes med variable kostnader. Gi eksempler.

Svar: Se Sending: Økonomistyring I, kap. 6.2.5.

 

12. Hva menes med omløpsmidler? Gi tre eksempler

Svar: Se Sending: Økonomistyring I, kap. 14.3.

 

13. Hva ligger i begrepet pengenes tidsverdi? Belys tekstsvaret ditt med et talleksempel.

Svar: Se Sending: Økonomistyring I, kap. 4.2.

 

14. Redegjør for internrentemetodens fordeler og ulemper.

Svar: Se Sending: Økonomistyring I, kap. 4.5.3.

 

15. Kontantstrømmen for et gitt investeringsprosjekt gir en positiv nåverdi på kr 0,2 mill. når man benytter et avkastningskrav på 14 % per år. Vil prosjektets internrente være større, lik eller mindre enn 14 % per år? Begrunn svaret.

Svar: Nåverdien for en gitt kontantstrøm til et investeringsprosjekt avtar med økende avkastningskrav. Det avkastningskrav som gir nåverdi lik null, kalles internrente. Når nåverdien er positiv med et avkastningskrav på 14 % per år, må internrenten være større enn 14 % per år.

 

16. Ved prosjektanalyse er det mulig å benytte ulike metoder for å bedømme lønnsomheten og rangere prosjekter. En slik metode er paybackmetoden (tilbakebetalingsmetoden). Hva går denne metoden ut på, og hva er metodens fordeler og ulemper?

Svar: Se Sending: Økonomistyring I (2013): Kap. 4.6 og Bredesen: Investering og finansiering (2011) s. 179-184.

 

17.  Hva menes med nåverdiindeks, og når er det aktuelt å benytte en slik indeks?

Svar: Se Bredesen (2011), s. 190 ? 195 og Sending (2013), 4.12

18. Hva er en tilleggssats, hvordan beregnes den og hva brukes den til? Gi to eksempler på bruk.

Svar: Se Sending (2013): Kap. 7.6 8.

 

19. Hva menes med sprangvis faste kostnader? Belys tekstsvaret ditt med et diagram.

Svar: Se Sending (2013): Kap. 6.2.6

 

20. Hva er betegnelsen på den regnskapsrapporten som viser inntekter og kostnader?

Svar: Resultatregnskapet (resultatoppstillingen) viser inntekter og kostnader.

 

21. Hva er hovedregelen for verdivurdering av omløpsmidler ved årsoppgjøret?

Svar: Se Sending (2013): Kap. 14.3

 

22. Hva menes med relevant område? Belys tekstsvaret ditt med et diagram/figur.

Svar: Se Sending: Økonomistyring I (2.utgave), s. 155, s. 174 og s. 290

 

23. Hva kalles det prinsippet som er hovedregelen ved verdivurdering av omløpsmidler i norsk finansregnskap, og hva går dette prinsippet ut på?

Svar: Hovedregelen for verdivurdering av omløpsmidler i norsk finansregnskap er laveste verdis prinsipp. Dette innebærer at man skal velge laveste verdi av anskaffelseskost og virkelig verdi.

 

24. Forklar ved hjelp av brekkstangformelen hvorfor totalkapitalrentabiliteten er forskjellig fra egenkapitalrentabiliteten.

 

Svar: Brekkstangformelen (Sending: Økonomistyring I (2.utgave), s. 454): 4 EKR = TKR + (TKR ? GGR) * G/EK Hvis TKR > GGR, vil EKR > TKR. Forskjellen mellom EKR og TKR for gitt differanse mellom TKR og GGR, blir større jo høyere gjeldsgraden (G/EK) er.

Teorispørsmål Finans og Økonomistyring 2

Her kommer alle teorispørsmålene og sensorveiledningene som er gitt på tidligere eksamener i finans og økonomistyring 2


22. Forklar hva som menes med systematisk og usystematisk risiko. Redegjør deretter for hvordan en investor kan redusere risiko.

Svar: Se BM kap 2.4 og 2.5. 5

23. Forklar hva leddene i kapitalverdimodellen fanger opp og beregn egenkapitalens avkastningskrav etter skatt i henhold til kapitalverdimodellen når markedets risikopremie er 6 %, den risikofrie rente er 3 %, skattesatsen er 28 % og egenkapitalbeta'en er 1,4.

Svar: Egenkapitalens avkastningskrav etter skatt = 3*(1-0,28) + 1,4 * 6 = 10,56% Om leddene i KVM, se f. eks. BM s. 72-73 og formel (3.5) eller (3.9).

17. Redegjør for kapitalmarkedets hovedoppgaver i en markedsøkonomi.

Svar: Se BM kap. 5.1

20. Forklar hva som menes med det effisiente settet av investeringsmuligheter (effisienslinjen), og tegn en figur som viser dette settet (denne linjen).

Svar: Se BM oppgave 3.1 og BM kap. 3.1.

24. Forklar hva leddene i kapitalverdimodellen fanger opp og hva kapitalverdimodellen kan brukes til.

Svar: Se BM kap. 3.2 og BG kap. 7.

16. Hva er kapitalverdimodellen, og hva brukes den til? Forklar!

Svar: Bredesen 390

20. Hvorfor er det lurt å diversifisere? Forklar, og illustrerer fordelen(-e) med diversifisering grafisk.

Bredesen k. 12 og 13, s. 356, 363, 384

17. Hva menes med diversifisering? Bruk gjerne en figur som illustrasjon.

Svar: 17. - Figur (Bredesen 4.utgave 2011 - Kap 13 - s.390) - Risikoreduksjon (usystematisk risiko) - Diversifiseringseffekt = Forskjellen mellom porteføljens veide gjennomsnittlige standardavvik og porteføljens virkelige standardavvik

18. Hva må korrelasjonskoeffisienten mellom avkastningen til to aksjer være for at det skal være mulig å fjerne all porteføljerisiko (standardavvik lik null)?

Svar: 18. - Figur (Bredesen 4.utgave 2011 - Kap 13 - s.373) - Perfekt negativ korrelasjon - Korrelasjonskoeffisient lik minus 1

13. Redegjør for mulige fordeler og ulemper ved outsourcing (=kjøpe fra andre).

Svar: Se Sending: Økonomistyring 2, kap 9.4.

18. Hva mener vi med det effisiente settet (effisiensfronten) og kapitalmarkedslinjen (KML)? Bruk gjerne illustrasjoner.

Svar: Se Bredesen s 410 (figur) og 411

17. Korrelasjonskoeffisienten er et standardisert måltall for samvariasjon. Hva må korrelasjonen mellom to investeringsalternativer være for at vi skal få full diversifiseringseffekt (dvs at standardavviket for porteføljen blir null)?

Svar: Når korrelasjonskoeffisienten er minus en er det mulig å finne en kombinasjon av de to investeringsalternativene som gjør at porteføljens standardavvik blir null

17. Beskriv de enkelte leddene i kapitalverdimodellen (se bort fra skatt) og forklar kort hva modellen kan brukes til.

Svar: 17. E(Ri) = Rf + [ E(Rm) - Rf] * Bi

- E(Ri) = Forventet avkastning / avkastningskrav prosjekt "i"

- Rf = Risikofri rente - E(Rm) = Forventet avkastning for markedsporteføljen

- Bi = Betakoeffisienten (systematisk risiko) for prosjekt "i"

- [E(Rm) - Rf] = Markedets risikopremie

KVM brukes til å finne riktig risikojustert avkastningskrav for et prosjekt/investeringsalternativ (Bredesen 4.utgave 2011 ).

18. Forklar hva som menes med systematisk og usystematisk risiko. Redegjør deretter for hvordan en investor kan redusere risiko. Bruk diagram/figur for å belyse tekstsvaret ditt.

Svar: Total risiko for en aksjeportefølje er en sum av systematisk risiko og usystematisk risiko. Systematisk risiko er knyttet til generelle markedsmessige forhold, f.eks. konjunkturutsiktene. Usystematisk risiko er knyttet til selskapsspesifikke forhold. En investor kan redusere den usystematiske risiko i en portefølje ved å øke antallet aksjer i porteføljen og spre sine investeringer på ulike bransjer og flere selskaper innen samme bransje, såkalt diversifisering. Se figur s. 390 hos Bredesen ( 4. utg. 2011).

17. Forklar hva som menes med det effisiente settet av investeringsmuligheter (effisienslinjen) og tegn figur/diagram som viser dette settet.

Svar: Se Bredesen (4.utgave) s. 410 og 411

19. Hva menes med diversifisering, og hva er formålet?

Svar: Se Bredesen (4.utgave) kap. 12.

20. Hvilket av nedenstående svaralternativer representerer systematisk risiko? Oppgi bokstaven for det svaralternativet du mener er mest dekkende. Hvis du oppgir mer enn ett svaralternativ, får du ikke uttelling for svaret ditt.

a. Politisk uro

b. Global oppvarming

c. Arbeidskonflikt innenfor en bedrift

d. Både a) og b)

e. Både a) og c)

f. Både b) og c)

Svar: d

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Arbeidskrav 8 Finans og økonomistyring 1 2015

SPØRSMÅL 1

Hva var totalkapitalens rentabilitet før skatt for Bragernes ASA  i 20x1?  Oppgi svaret i % (kun tallet) med to desimalers nøyaktighet, og bruk komma som desimaltegn.

Svar: 

SPØRSMÅL 2: 

(Samme tall som spørsmål 1)

Hva var egenkapitalens rentabilitet før skatt for Bragernes ASA  i 20x1?  Oppgi svaret i % (kun tallet) med to desimalers nøyaktighet, og bruk komma som desimaltegn.

Svar: 2) Gj.sn.EK: 38.030.000-30.000.000=34.015.000

EKR: 11.000.000/34.015.000*100=32,33 = 32,34%

 

SPØRSMÅL 3:

(Samme tall som spørsmål 1)

Alt varekjøp har skjedd på kreditt.  Posten leverandørgjeld er i sin helhet gjeld til vareleverandører. Hva ble utbetalt til bedriftens vareleverandører i 20x1? Oppgi svaret (kun tallet) i kroner og bruk punktum som tusenskiller.

Svar: Varekostn.30 mill*1,25=37.500.000 økning varlager: 2 mill*1,25=2.500.000 Økning lev.gjeld 4.000.000 Varekostn.inkl.mva - økn.lev.gj 4 mill - økn.varelager inkl.mva 2,5 mill=36.000.000

 

SPØRSMÅL 4: 

(Samme tall som spørsmål 1) 

Hva var gjennomsnittlig lagringstid for varene i 20x1?  Oppgi svaret i hele dager (avrund svaret oppover til nærmeste hele dager hvis det er nødvendig med avrunding).

Svar: 4) Gj.sn.varelager 5 mill/varekostn.30 mill*360=60 dager

 

SPØRSMÅL 5:

(Samme tall som spørsmål 1)

Hvor mye ble avsatt til utbytte per 31.12.20x1?  Oppgi svaret (kun tallet) i kroner og bruk punktum som tusenskiller.  Det har ikke vært innskudd av ny egenkapital i løpet av året.

Svar: 5) Årsres. - økning egenkap. 8.030.000 - 38.030.000-30.000.000= 0 i avsatt utbytte

 

SPØRSMÅL 6:

(Samme tall som spørsmål 1)

 

Nivået på skjulte reserver per 31.12. utgjorde kr 1.100.000 i 20x1 og kr 1.210.000 i 20x0.  Hva var virkelig driftsresultat i 20x1? Oppgi svaret (kun tallet) i hele kroner og bruk punktum som tusenskiller.

Svar: 6) Skjulte reserver 2010 - skjulte reserver 2011= 1.210.000 - 1.100.000=110.000 driftsres.12.900.000 - 110.000 =12.790.000

 

SPØRSMÅL 7: 

(Samme tall som spørsmål 1)                        

Bedriften kjøpte nye anleggsmidler i 20x1.  Det ble også solgt brukte anleggsmidler. Salgssummen var kr 200.000 ekskl. mva. Hva utgjorde kjøp av anleggsmidler inkl. mva i 20x1? Oppgi svaret (kun tallet) i hele kroner, og bruk punktum som tusenskiller.

Svar:

SPØRSMÅL 8:

En bedrift produserer bare ett produkt og har følgende selvkostkalkyle for produktet.

Salgspris                                 90 000

Direkte material                     40 000

Direkte lønn                           20 000

Indirekte variable kostnader    6 000

Indirekte faste kostnader       12 500 

Selvkost                                 78 500

Fortjeneste                             11 500

 

Kalkylen er basert på en total produksjon (= salg) på 1 000 enheter per periode.  De faste kostnadene er driftsuavhengige innenfor produksjonskapasiteten på 1 200 enheter.

 

Foregående periode gikk bedriften med et underskudd på kr 500 000. Hvor mange enheter ble solgt foregående periode?

Svar: 8) FK 12.500*1000=12,5 mill DG 90.000-66.000=24.000/90.000=0,2667 =26,67% DG

FK 12,5 mill-500000/0,2667=44.994.375,70/90.000= 500 stk.


SPØRSMÅL 9:

En elektrokjede tilbyr deg ?gratis? kreditt i fire måneder.Elektrokjedens tilbud om kreditt går ut på at du kun må betale et gebyr på kr 400 ved kjøp av en vare, men ingen renter, hvis det beløpet du skylder, blir betalt senest etter fire måneder.Anta at du kjøper en vare for kr5 200, betaler gebyret på kr 400, utsetter betalingen av varen, for så å betale kr 5 200 etter fire måneder. Hva blir den effektive renten i % per år for denne kreditten? Oppgi svaret (kun tallet) i nærmeste hele prosent.

Svar: 9) 5200 - gebyr 400=4800

Tast inn på kalk: 1 N 4800 PV -5200 FV CPT I/Y=8,33% rente pr. 4 mnd. Dvs at det er 3 perioder i året 1,0833^3=1,2713 = 27,13% i effektiv rente

 

SPØRSMÅL 10:

Du har vunnet kr 10.000.000 i Lotto og ønsker å investere pengene på mest lønnsomme måte.  Du har kommet til at nedenstående prosjekter kan være aktuelle. Prosjektene er delbare. Hva blir samlet nåverdi for den gunstigste kombinasjonen av prosjekter? Oppgi svaret (kun tallet) i hele kroner og bruk punktum som tusenskiller.

 

Prosjekt

Investeringsutgift

Nåverdi

A

4.000.000

4.000.000

B

1.000.000

3.000.000

C

3.000.000

7.500.000

D

4.000 000

6.000.000

E

2.500 000

4.500.000

F

6.000.000

8.000.000

G

1.600.000

2.000.000

 

Svar: 10) Regn ut nåverdiindeks på alle prosjektene (Nåverdi/invest.utgift.)

A=1 B=3

C=2,5 D=1,5

E=1,8 F=1,3

G=1,2

Vi velger prosjekt B 1 mill. C 3 mill og E 2,5 mill. Sum=6,5 mill.

Rest av 10 mill. på 3,5 mill settes på prosjekt D.

Nåverdi prosjekt D: 6 mill/4*3,5=5.250.000

Sum nåverdi blir 3 mill+7,5 mill+4,5 mill+5.250 mill = 20.250.000

Arbeidskrav 8 Finans og økonomistyring 2 2015

Spørsmål 1

Et investeringsprosjekt har en beta lik 1,4. Den risikofrie renten er 5 % og forventet avkastning på en veldiversifisert markedsportefølje er 12 %. Med utgangspunkt i disse opplysningene, hva blir prosjektets (avkastningskrav) diskonteringsrente i henhold til kapitalverdimodellen?  Se bort fra skatt. Oppgi svaret (kun tallet) med en desimalers nøyaktighet.

Løsning:

Her bruker vi kapitalverdimodellen: E(rj) = rf + [E(rm)-rf]*Bi

E(rj) = Avkastningskrav = x

Rf = risikofri rente = 0,05

[E(rm)-rf] = Markedets risikopremie = forventet avkastning markedsporteføljen ? risikofri rente = 0,12 -0,05 = 0,07

Bi = Beta = 1,4

Sett inn tallene og regn ut

 

Spørsmål 3

En portefølje består av 30 % investert i aksje A som har en beta på 1,4 og 70 % investert i aksje B som har en beta på 1,6.  Hva er porteføljens beta? Oppgi svaret (kun tallet) med to desimalers nøyaktighet. Bruk komma som desimaltegn.

Løsning:

W(a) * Beta(a) + W(b) * Beta (b) = porteføljens beta

Vekting a = 30%

Beta a = 1,4

Vekting b = 70%

Beta b = 1,6


Spørsmål 7

Du får oppgitt følgende om sannsynligheter og avkastning i % for aksjene A og B i tre mulige tilstander:

Tilstand

Sannsynlighet

Avkastning A

Avkastning B

 

1

0,5

20

40

 

2

0,2

28

30

 

3

0,3

40

24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hva er forventet avkastning i % for aksje A? Oppgi svaret (kun tallet) med en desimalers nøyaktighet.  Bruk komma som desimaltegn.

 

Løsning:

Sannsynlighet 1a * Avkastning 1a + Sannsynlighet 2a * Avkastning 2a + Sannsynlighet 3a * Avkastning 3a = Forventet avkastning for aksje a

 

Spørsmål 8

En bedrift benytter standardkostregnskap og har 12 regnskapsperioder per år. I januar måned er standard variable tilvirkningskostnader for solgte varer kr 2 140 000. I løpet av måneden har beholdningen av ferdigvarer økt med kr 67 000, mens beholdningen av varer i arbeid har sunket med kr 18 000. Hva er standard variable tilvirkningskostnader for ferdigproduserte varer? Oppgi svaret (kun tallet) i hele kroner uten benevning.  Bruk punktum som tusenskiller.

Løsning:

Standard variable tilvirkningskostnader + økning ferdigvare = standard variable tilvirkningskostander for FV

Spørsmål 9

En bedrift produserer to produkter, X og Y. Produksjonsprosessen krever at de bearbeides i to tilvirkningsavdelinger hvor de legger beslag på samme maskinkapasitet. Vi har følgende opplysninger om kapasitetsgrenser, kapasitetsforbruk, og dekningsbidrag:

 

 

Produkt X

Produkt Y

Total kapasitet

 

Tilv.avd. 1

Tilv.avd. 2

Timeforbruk per enhet

          5

          2,5

Timeforbruk per enhet

           2,5

           5

Maskintimer

     1 500

     1 500

Dekningsbidrag per enhet

     kr 620

    kr 400

 

 

Beregn totalt dekningsbidrag  ved den produktkombinasjon som er økonomisk sett mest gunstig.  Oppgi svaret (kun tallet) i kroner uten desimaler. Bruk punktum som tusenskiller.

Løsning:

Hovedregelen når man skal velge hvilket produkt man skal velge med tanke på lønnsomhet er at man alltid skal velge det produktet som gir høyest dekningsbidrag, men i dette tilfellet vil ikke det være det mest lønnsomme. Grunnen til at vi ikke kun skal velge produkt A er fordi da ville ikke brukt opp den totale kapasiteten vi har tilgang på som er på 3.000 timer. Så da må vi ha en kombinasjon av X og Y.

Det mest lønnsomme vil være å produsere like mange X og Y som blir 200 på hver.

200X + 200Y = mest gunstige produktkombinasjon

Les mer i arkivet » November 2018 » April 2018 » November 2017
BI Hjelpen

BI Hjelpen

23, Kristiansand

In To It - Gratis quizzer i BI fag http://www.intoit.io/

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