Choose various essay writing/presentation phrases we've worked through and use them in context of answering the following question:
Please compare the four types of non-deposit institutions discussed by Griffin/Ebert. Name both an advantage and a disadvantage of each.
Remember: The focus of the exercise is not primarily content. Rather, the aim is to increase your level of comfort with various elegant writing phrases.
Re: Practicing Report Phrases June-July 2006
Weather too hot for you all? Maybe this one will be more inspirational:
Exercise 2:
Choose various essay writing/presentation phrases we've worked through and use them in context of answering the following question:
Please compare the terms "absolute advantage" and "comparative advantage". When does a country have one or the other?.
Remember: The focus of the exercise is not primarily content. Rather, the aim is to increase your level of comfort with various elegant writing phrases.
Choose various essay writing/presentation phrases we've worked through and use them in context of answering the following question:
Please discuss the two steps managers must take in order to develop a formal organizational structure.
Remember: The focus of the exercise is not primarily content. Rather, the aim is to increase your level of comfort with various elegant writing phrases.
Choose various essay writing/presentation phrases we've worked through and use them in context of answering the following question:
Please discuss the various legal measures a country can take to reduce the level of imports.
Remember: The focus of the exercise is not primarily content. Rather, the aim is to increase your level of comfort with various elegant writing phrases.
Re: Practicing Report Phrases June-July 2006
The following report deals with the organizational structure of a company. The CEO must decide who will have the authority and who is responsible for whom in the firm. There are two possibilities. The first one is the line authority. This means that decisions are made from the superior. The chain of command flows up and down in the company. Another possibility to organize a structure in a company is the staff authority. In this case special experts advise the managers in the departments of the company. They are specialists in areas such as law and accounting. Regardless of the fact that these persons have special knowledge, they only support the departments. Moreover they have no decision making authority.
To conclude it can be said in the line authority the decisions are made in the chief department and flows up and down in the company. On the other hand the staff authority consists of specialists who only support departments to find solutions and they have no authority to make decisions.
Re: Practicing Report Phrases June-July 2006
The report focuses on advantages a company has in producing and exporting products.
The key question is why a region can produce some goods more effectively than other regions. First of all, an absolute advantage exists when a country can produce something cheaper and with higher quality than any other country. Some reasons are that those countries have more commodities which are easier to use and specialists who return them into high qualified finished goods. Otherwise a comparative advantage is when a country can produce more efficiently or better than other goods. This is for example when a country for example is better in producing computers than automobiles. In this case the region produces computers with a comparative advantage.
Answer Exercise 1 - Sonja Ponsold
This report deals with the four existing types of non-deposit institutions. Firstly it looks at the pension funds followed by insurance and the financial companies as well as the security dealer. In addition the report outlines shortly the advantages and disadvantages of each institution.
Nowadays, of great importance, seems to be the pension funds. The political discussion in the media show that pension funds which manage a pool of funds to provide retirement income for its members and, becomes more and more popular. Currently, there are still public pension funds including the social security but it can be seen that private pension funds become a favourable alternative to ensure a proper pension income in the retirement phases of peoples' life. Unfortunately this system is not as flexible as possible and does not always take into account the personal life situation.
With insurance companies, the second group of non-deposit institutions, private and business costumers can transfer their risk of loses to the insurer and paying a premium in return. On the one side the insurer invests this money in stocks, real estate, and other assets to earn the money for possible payouts in case of insurance loses. However in case of no losses the insurant pays monthly, quarterly or yearly their premium and never get a payout for it.
In case of cash shortage finance companies in the commercial and in the private/consumer sector lend money - so called long-term funds - to give them the possibility to invest. As long as you are able to pay the instalments as well as the interest rates which differ highly form the different kind of funds, everything is fine.
Last but not least the brokers or officially called security investment dealer are deeply involved in the financial market sector. As a result they are expert in dealing with stocks and bonds and they offer their service to be the link between the buyer and the seller. Of course they are not non-profit organisation and therefore such services are often very expensive.
To summarise the above points, one can state: “All non-deposit institutes are huge investors and without their investment in different areas they would not be able to offer their services to their costumers.”
Answer Exercise 2 - Sonja Ponsold
Talking about globalisation and the international trade we have to consider the different forms of competitive advantages. So this report deals with the conditions under which companies are more successful on the international market than their competitors. In the theory there are two principles given: he absolute advantage and the comparative advantage in the global market. Shortly described, the absolute advantage is the ability of a country to produce more efficiently than any other country. In contrast to this a country with the comparative advantage of producing for example TV set has the ability to produce these goods more efficiently than for example cars. To summaries the first principle compares the ability of production of different countries so it is externally oriented and the second one is internally focused on the own strengths and weaknesses.
Answer Exercise 3 - Sonja Ponsold
This report guides through the two first steps in developing the formal organization structure of any business. Regardless of the firm’s size manager have to deal with two important questions: Who will do what and how can you group similar jobs together?
To begin with, the theoretical definition of answering the first question is “specialization”. Manager who are in charge of this task have to identify the jobs that need to be done to run the business successfully and furthermore designate the people who will do it. After that, the focus is on the departmentalization. As a result of this step all previously defined jobs are grouped into logical units. Due to the different business models the departmentalization can be performed with the focus on customers, products, processes, geographical issues and last but not least functions. However a mixture of all is quite possible. One must not forget that there are other activities like establishing the decision-making hierarchy (responsibilities, authorities, accountabilities and so forth) and defining the basic forms of organizational structure (for example matrix organisations) are important to run a business. Nevertheless a lack of accuracy in the first basic steps can lead to grave problems within the organisation and as a consequence while solving them; the company is not anymore focused on satisfying their costumer need.
Answer Exercise 4 - Sonja Ponsold
While doing business on the international market companies face several trade barriers. Some of them are very obvious like social and cultural differences others are more economical triggered. This report deals with the third big barrier on the international market, the legal and political differences. To protect the own market and all actors in it, governments all over the world have to control the volume of imports. There are several measures to use:
Firstly, a quota which determines the import volume of special products to protect domestic producers. Secondly embargo, here the whole import or export of special products or all products from defined countries are forbidden. Next to the regulation of volume via trade restrictions government can levied taxes on imported products to influence the product sales. The tax burden leads to an increase in prices and, in case of a high price elasticity, consequently to a reduced demand. The next method is to pay money from governmental sources to the domestic suppliers to support them in competing with foreign firms. This legal measure is called subsidy and often be found in the agriculture area.
In conclusion there are several arguments in favour of barriers like job security, protecting domestic firms, sheltering trade new-comers and so on. In contrast to this, critics of protectionism insist on a free competition and the free market to provide a fair and open market place for all, importers and exporters. They believe in the natural economic forces demand and supply to regulate the market itself. Bearbeitet von: Sonja Ponsold am: 6/28/06 13:19
Please compare the terms "absolute advantage" and "comparative advantage". When does a country have one or the other?.
The following report deals with the terms "absolue advantage" and "comparative advantage".
International trade is becoming increasingly important to most nations and their largest businesses. Many countries open their borders to foreign businesses, to new knowledge and to cooperate with foreign companies. In recent years a specific term has become more and more important, namely globalization.
Globalization means the process by which the world economy is becoming a single interdependent system.
Not every single country in the world is able to produce goods of every existing industry. So many countries opened their borders to export their main domestic products to international markets. Nowadays it is indispensable for being competitive to expand into foreign markets.
The world economy is being classified into three major marketplaces, North America, Europe and Asia. These regions accommodate most of the world’s largest markets, biggest corporations and highest income consumers.
As mentioned before, not every country is able to produce everything that it needs, so countries export what they are able to produce and import what they can not produce. So every single country has a competitive advantage. According to Thommen/Achleitner competitive advantage can be classified into two main different parts. Firstly the absolute advantage, and on the other hand the comparative advantage.
An absolute advantage exists when a country is able to produce cheaper or of higher quality than any other country. For example China has an absolute advantage in producing textiles, for of the reason that they can produce at low costs. China’s textile industry is able to produce cheaper than for example the US industry.
A country has a comparative advantage if it is able to produce goods more efficiently or better than other’s. For example Asian countries can produce electronic goods more efficiently than Europe.
Although international trade has advantages for countries, it may cause problems for a country’s Import-Export balance. That leads me to the definition of “balance of trade” and “balance of payments”.
The balance of trade is the value of all products imported minus the value of all exports. A negative balance of trade is called trade deficit, that means that more money is flowing out than in.
Balance of payments refers to the flow of money into or out of a country. In short, the money a country pays for imports and the money it receives for exports.
Of great importance are the barriers of international trade. Social and cultural differences are the main problems for exporting goods. Furthermore there are problems of economic differences or legal and political differences.
Legal or political differences can affect the trade by governments. For example governments may impose quotas or tariffs.
A quota is a restriction of the quantities of goods imported. The extreme form of a quota is an embargo In this case the government completely forbids the import of particular goods.
Tariffs are taxes that raise the price of imported goods. So consumers do not only have to pay the price of the good, they also have to pay tariff fees.
Re: Answer Ex. 2
Please compare the four types of non-deposit institutions discussed by Griffin/Ebert. Name both an advantage and a disadvantage of each
This report is meant to discuss the four types of non-deposit institutions. First of all, there is the pension fund, which is a non-deposit pool of funds managed to ensure retirement income for the members.
A distinction between a public pension fund and a private pension fund has to be made. The former is normally set up by the government to provide retirement income to for different types of employees, e.g. government employees. The latter is privately organized and is operated by employers, unions or other private groups.
The second type of non-deposit institutions are insurance companies. These institutions invest collected funds, which are collected for insurance coverage. The funds are typically invested in stocks, bonds, real estate and other assets. The major advantage of insurance companies is that they provide “double service” to their costumers. Firstly, the companies provide insurance coverage and moreover, additional income through the investments made. As a negative aspect, it has to be mentioned that there is always the danger of loosing the invested money and as a consequence the loss of the insurance coverage.
Thirdly, so called finance companies which specialize in making loans to businesses and consumers have to be discussed. These companies provide funds in cases of liquidity shortages. This new additional funds give the companies the possibility to keep their company in business. Nevertheless, the lending party has to pay the instalments and interest payments – if this doesn’t happen, the finance companies will take measures to be compensated for the funds provided.
Finally, securities investment dealers buy and sell stocks and bonds both for investors and for their own accounts. Due to the large amount of money invested, these companies are able to achieve enormous returns.
Please compare the terms "absolute advantage" and "comparative advantage". When does a country have one or the other?.
The two terms absolute and comparative advantage are fairly different. Absolute advantage refers to the fact, that one party can produce the same amount of output with less input. An example helps to illustrate this definition: A is able to produce a car with 5 hours of labour; B does the same things with 3 hours of labour. As a consequence, B has the absolute advantage.
On the other side, there is the expression comparative advantage. It refers to the situation, where one company produces one good more efficiently, which means that it has to sacrifice less other products in order to produce on product. Here the term opportunity costs come into play. Opportunity costs are always expressed in terms of number of goods not produced in order to produce another good. Again, an example is helpful: A produces can produce 3 cars or 2 bikes. B is able to produce 2 cars or 2 bikes. So A has to comparative advantage in producing cars and B has to comparative advantage in producing bikes, as both have to give up less units of one good in order to produce another good.
These two expressions are especially important in order to determine whether there are benefits from international trade. Trade is only beneficial, if both countries trading have the comparative advantage in producing one good, which will always be the fact because even when a country has the absolute advantage in producing either good, it is impossible for one country to have the comparative advantage for both goods.
Please discuss the two steps managers must take in order to develop a formal organizational structure.
These report deals with the necessary steps, a manager has to take in order to establish a formal organizational structure. The two key words in this situation are specialization and departmentalization.
Specialization refers to determining who performs which tasks. This process of identifying the specific jobs that need to be performed and designating the people who shall perform them leads to job specialization. Of course, a company normally only has one major job to perform (e.g. Microsoft produces software) but to be in the position to perform this “main job”, the management has to break it down and assign the different tasks to the employees.
The second step managers have to take to develop a formal structure is called departmentalization. Here, employees are grouped into logical units to enable them to perform theirs tasks more efficiently. Moreover, having separate departments in a company has the advantage that each department can be treated as a profit center – a separate company unit responsible for its own costs and profits. Designing departments can happen along customer, product, process, geographic or functional lines.
Please discuss the various legal measures a country can take to reduce the level of imports
Governments can influence the level of imports in a number of ways. Firstly, quotas, tariffs and subsidies influence imports significantly. Quotas restrict the number of products of a certain type, which are allowed to be imported. So quotas determine the quantity imported. Tariffs are taxes on imported goods. They can be seen as “punishment” for importing a good and can occure in two forms. Revenue tariffs are meant to create additional income for the government. Protectionist tariffs, which are more common, shall discourage imports to protect the domestic producers. Subsidies have the same goal. They are payments to domestic producers to improve their competitive position.
Another possibility for a country to control the number of imports is to impose local content law to set specific requirements for products sold in a country. So if a company wants to sell its goods in a country, the product has to meet these requirements.
Finally, business practise law is a very effective way of discouraging imports by imposing certain laws and regulation which govern business practices in a country. Typically, business-hour restrictions within the European union influence new foreign competitors significantly.
In summary, therefore, it has to be mentioned that a country has tons of possibilities to protect the domestic market participants. As a consequence, it can be extremely difficult for a company to enter a foreign market, if the government doesn´t want new foreign competitors in the market.
Re: Practicing Report Phrases June-July 2006
[b]Please compare the four types of non-deposit institutions discussed by Griffin/Ebert. Name both an advantage and a disadvantage of each.[/b]
According to Griffin/Ebert non-deposit institutions can be defined as organizations that take in money, provide interest or other services and make loans. The four most important ones are pension funds, insurance companies, finance companies and securities investment dealers or brokers.
Firstly, a pension fund collects funds of its members to provide retirement income for them. In Austria there are two different types of pension funds, the public ones for Social Security and the private ones. The big advantage of private pension funds is that they offer an additional retirement income after the member has retired. On the other hand, public pension funds only offer a very small retirement income because of the demographic situation.
Besides pension funds, insurance companies are also non-deposit institutions. They collect premiums from its members and provide coverage against losses. So, for example, if a member of a car insurance company has an accident, the institution pays for the damage. On the other hand, if a person has no insurance, they have to bear the damage themselves.
Thirdly, finance companies are specialized in making loans to either businesses or consumers. On the one hand for consumers it’s very easy to receive a loan from a finance company but on the other hand they often charge very high interest rates.
Finally, there are also securities investment dealers or also called brokers. These brokers buy and sell stocks and bonds on stock exchanges for investors. For the investors that means they don’t have to manage their stocks and bonds themselves. As a big disadvantage, these brokers sometimes collect high fees for managing the funds. Bearbeitet von: evapichler am: 6/29/06 12:30
Re: Practicing Report Phrases June-July 2006
[b]Please discuss the various legal measures a country can take to reduce the level of imports.[/b]
This report deals with various methods how a country can reduce the level of imports.
As a first measure, Griffin/Ebert describe the possibility of setting quotas. A quota restricts the quantity of a particular product that can be imported. Because of this restriction the supply of the good is limited and as a result the price increases.
The ultimate quota is called an embargo. The government forbids the import of a particular product or even of all products of a particular nation to be imported.
Besides quotas, a country can also set tariffs on imports. These tariffs raise the price of the imported goods. Griffin/Ebert distinguish between two forms of tariffs, the revenue and the protectionist tariff. With a revenue tariff the government wants to earn an additional income. A protectionist tariff on the other hand, should protect the domestic companies. Another method to protect local producers are subsidies. These are payments by the government that help the domestic companies to produce their goods cheaper than their foreign competitors.
Furthermore, the government can pass so called local content laws. These laws require that a foreign product has to be at least partially made in the importing country. Another legal activity would be to prohibit certain business practices, as for example cartels or dumping. Cartels are associations of producers that aim to control the supply and so the price of a good. On the other hand, dumping, means that a company sells its product abroad for less than the cost of production.
Re: Practicing Report Phrases June-July 2006 Original
The following report deals with the organizational structure of a company. The CEO must decide who will have the authority and who is responsible for whom in the firm. There are two possibilities. The first one is the line authority. This means that decisions are made from the superior. The chain of command flows up and down in the company. Another possibility to organize a structure in a company is the staff authority. In this case special experts advise the managers in the departments of the company. They are specialists in areas such as law and accounting. Regardless of the fact that these persons have special knowledge, they only support the departments. Moreover they have no decision making authority.
To conclude it can be said in the line authority the decisions are made in the chief department and flows up and down in the company. On the other hand the staff authority consists of specialists who only support departments to find solutions and they have no authority to make decisions.
Korrektur
The following report deals with the organizational structure of a company. The CEO must decide who will have the authority and who will be responsible for whom in the firm. There are two possibilities. The first of these possibilities is the line authority. In the case of a line authority, decisions are made by the superior. The chain of command flows up and down in the company. Another possibility to organize a structure in a company is the staff authority. In this case, special experts advise the managers in the departments of the company. They are specialists in areas such as law and accounting. Regardless of the fact that these persons have special knowledge, they only support the departments. Moreover, they have no decision making authority.
To conclude, it can be said that in the case of line authority, the decisions are made by the head department and flow up and down through the company. On the other hand, staff authority consists of specialists who only support departments in finding solutions and they have no authority to make decisions.
Sprachlich gut eingestiegen. Inhaltlich ist aber wichtig: die Organisationsstruktur entsteht aus (1) Job Specialization und (2) Departmentalization.
1) "The CEO must decide who will have the authority and who will be responsible for" Wenn Du eine Variante im Future Tense benennst, must Du es bei den anderen auch so handhaben.
2) "The first one is the line authority." Vorsicht bei solchen Sätzen. Sie sind zwar grammatikalisch nicht falsch, aber stilistisch total. Wenn man auf Vorheriges Bezug nehmen will, passt z.B. "The first of these possibilities is the...", bei Methoden "The first of these methods is the..." usw.
Re: Practicing Report Phrases June-July 2006 Original
The report focuses on advantages a company has in producing and exporting products.
The key question is why a region can produce some goods more effectively than other regions. First of all, an absolute advantage exists when a country can produce something cheaper and with higher quality than any other country. Some reasons are that those countries have more commodities which are easier to use and specialists who return them into high qualified finished goods. Otherwise a comparative advantage is when a country can produce more efficiently or better than other goods. This is for example when a country for example is better in producing computers than automobiles. In this case the region produces computers with a comparative advantage.
Korrektur
The report focuses on advantages a company has when producing and exporting products.
The key question is why a region can produce some goods more effectively than other regions. First of all, an absolute advantage exists when a country can produce something cheaper and at higher quality than any other country. Some reasons for this are that those countries have more raw materialsas well as specialists who transform them into high quality finished goods. On the other hand, a comparative advantage exists when a country produces all its products more expensively than another country, but the opportunity costs for at least one of its products are relatively lower than for other products. An example for this would be if a country were better at producing computers than automobiles. In this case, the region would produce computers at a comparative advantage.
Gut beantwortet.
1) "high qualified finished goods" "Highly qualified" ist grundsätzlich nur ein Lebewesen. "High quality" passt für "hochwertige" Güter.
2) "Otherwise" bedeutet "Ansonsten", nicht "Andererseits". "On the other hand," bzw. "In contrast," wären hier geeigneter.
3) "a comparative advantage is": Für "besteht" verwendet man am besten "exists"
4)"This is for example" Wenn man Beispiele anführen will, beginnt am besten mit "An example for this would be if..."
5) "would produce": Weil, wenn man eine Möglichkeit bespricht, zur Sicherheit immer der Conditional verwendet werden sollte.Bearbeitet von: GerhardFenkart am: 6/30/06 12:41
This report deals with the four existing types of non-deposit institutions. Firstly it looks at the pension funds followed by insurance and the financial companies as well as the security dealer. In addition the report outlines shortly the advantages and disadvantages of each institution.
Nowadays, of great importance, seems to be the pension funds. The political discussion in the media show that pension funds which manage a pool of funds to provide retirement income for its members and, becomes more and more popular. Currently, there are still public pension funds including the social security but it can be seen that private pension funds become a favourable alternative to ensure a proper pension income in the retirement phases of peoples' life. Unfortunately this system is not as flexible as possible and does not always take into account the personal life situation.
With insurance companies, the second group of non-deposit institutions, private and business costumers can transfer their risk of loses to the insurer and paying a premium in return. On the one side the insurer invests this money in stocks, real estate, and other assets to earn the money for possible payouts in case of insurance loses. However in case of no losses the insurant pays monthly, quarterly or yearly their premium and never get a payout for it.
In case of cash shortage finance companies in the commercial and in the private/consumer sector lend money - so called long-term funds - to give them the possibility to invest. As long as you are able to pay the instalments as well as the interest rates which differ highly form the different kind of funds, everything is fine.
Last but not least the brokers or officially called security investment dealer are deeply involved in the financial market sector. As a result they are expert in dealing with stocks and bonds and they offer their service to be the link between the buyer and the seller. Of course they are not non-profit organisation and therefore such services are often very expensive.
To summarise the above points, one can state: “All non-deposit institutes are huge investors and without their investment in different areas they would not be able to offer their services to their costumers.”
Korrektur
This report deals with the four existing types of non-deposit institutions. Firstly, it looks at the pension funds, followed by insurance and financial companies as well as security dealers. In addition, the report outlines shortly the advantages and disadvantages of each institution.
Nowadays, pension funds seem to be of great importance. The political discussion in the media shows that pension funds, which manage a pool of funds to provide retirement income for their members,are becoming more and more popular. Currently, there are still public pension funds, including the social security, but it can be seen that private pension funds are becoming a favourable alternative to ensure proper pension income in the retirement phases of peoples' lives. Unfortunately, this system is not as flexible as might be possible and does not always take into account the personal life situation of a client.
With the help of insurance companies, the second group of non-deposit institutions, private and business customers can transfer their risk of loses to the insurer and pay a premium as compensation. On the one side, the insurer invests this money in stocks, real estate, and other assets to earn the money for possible payouts in case of insurance loses. However, in case there are no losses, the insurant pays monthly, quarterly or yearly premiums and never get a payout in return.
In case of cash shortage, finance companies in the commercial and in the private/consumer sector lend money - so called long-term funds . As long as you are able to pay the instalments as well as the interest , which differs highly depending on the kind of fund, everything is fine.
Last but not least the brokers or, as they are officially called, security investment dealers, are deeply involved in the financial market sector. As a result, they are experts in dealing with stocks and bonds and they offer their services in order to be the link between the buyer and the seller. Of course, they are not non-profit organisations, and therefore, such services are often very expensive.
To summarise the above points, one can state: “All non-deposit institutes are huge investors and without their investments in different areas, they would not be able to offer their services to their customers.”
Inhaltlich gut beantwortet!
1) "followed by insurance and the financial companies as well as the security dealer." Wenn Du Dich nicht auf eine bestimmte Unternehmung beziehst, ist es sicherer, "the" auszulassen (ist im Deutschen ziemlich ähnlich).
2) "are becoming more and more popular." Weil das jetzt gerade stattfindet (Continuous)
3) "costumers" ACHTUNG KLASSIKERDer Kunde buschstabiert sich "customer". Ein "Costumer" wäre (falls es das Wort gäbe), jemand, der sich hauptberuflich verkleidet.
4) "In case of cash shortage, finance companies in the commercial and in the private/consumer sector lend money - so called long-term funds - to give them the possibility to invest" Ich würde bei solchen längeren Sätzen im Zweifelsfall unnötige Phrasen weglassen, da sie wie hier den Satz unklar machen. "To give them the possibility to invest" ist nicht ganz verständlich. Wenn es sich bei "them" um Kunden handelt, dann müsste vorher schon einmal von Kunden die Rede sein. Falls es sich bei "them" aber um die Finanzinstitute selbst handelt, sollte man einen zweiten Satz machen, da das für einen Satz zu kompliziert wird (z.B. "By doing this, finance companies are able to invest the capital that has been provided to them by other companies/depositors".)
5) Bei der Prüfung solltest Du beim Korrekturlesen ganz genau nachprüfen, ob Deine Zeitwörter punkto Plural/Singular an die jeweiligen Hauptwörtern angepasst sind. Ich glaube, so kannst Du Deine häufigste Fehlerquelle vermeidenBearbeitet von: GerhardFenkart am: 6/30/06 12:44
Re: Answer Exercise 2 - Sonja PonsoldOriginal
Talking about globalisation and the international trade we have to consider the different forms of competitive advantages. So this report deals with the conditions under which companies are more successful on the international market than their competitors. In the theory there are two principles given: he absolute advantage and the comparative advantage in the global market. Shortly described, the absolute advantage is the ability of a country to produce more efficiently than any other country. In contrast to this a country with the comparative advantage of producing for example TV set has the ability to produce these goods more efficiently than for example cars. To summaries the first principle compares the ability of production of different countries so it is externally oriented and the second one is internally focused on the own strengths and weaknesses.
Korrektur When talking about globalisation and international trade, we have to consider the different forms of competitive advantages. Therefore, this report deals with the conditions under which companies are more successful on the international market than their competitors. According to the theories on international trade developed by Smith and Ricardo, two principles are specified, namely absolute advantage and comparative advantage in the global market. Shortly described, the absolute advantage is the ability of a country to produce a product more efficiently than any other country. In contrast to this, a country with a comparative advantage in producing, for example, TV sets, has the ability to produce these goods more efficiently than, for example, cars. To summarise, the first principle compares the ability of different countries to produce a good, so it is externally oriented, and the second one is internally focused on a country's own strengths and weaknesses.
Schön beantwortet.
1) "about globalisation and the international trade": Hier wieder wie im vorigen Beispiel: Wenn Du etwas Allgemeingültiges sagen willst (z.B. für den international Handel an sich und nicht nur für ein spezifisches Segment), dann solltest Du in den seltensten Fällen "the" als bestimmten Artikel einbauen.
2) "So this report deals with" Mündlich wäre die Phrase bestens. Schriftlich geht es ein bißchen in Richtung Slang. "This is why this report..." bzw. "Therefore, this report..." sind wesentlich eleganter.
3)"According to the theories on international trade developed by Smith and Ricardo" Das habe ich nur eingebaut, um zu zeigen, wann "the" theory passen würde (hier handelt es sich um zwei bestimmte Theorien, nicht um Theorien an sich)
4)"there are two principles given" Diese Satzstruktur funktioniert in keiner Konstellation. Das "there are" würde man auslassen (z.B. "Two principles are given")Bearbeitet von: GerhardFenkart am: 6/30/06 12:46
Exer.1
The following report will discuss the four types of non-deposit instituions.
The key question at hand is what is a non-deposit instituion? According to Griffin/Ebbert, a non-deposit instituion is a financial instituion that doesn't accept deposits, but it provides interest and makes loans.
Non-deposit instituions are: pension funds, insurance companies, finance companies and securities dealer.
A pension fund provides retirement income by pooling funds of its members. One advantage is that the members don't have to take care for their retirement income theirselves. A disadvantage is that the interest rates are low. According to Griffin/Ebbert, insurance companies provide coverage against losses by pooling funds of its investors. This guarantees that an investor who suffers a loss, gets financial help. The disadvantage of this instituion is, that an investor who never suffers a loss doesn't get back his paid in funds. This leads me to the next instituion. A finance company is specialized in granting loans to businesses and consumers. This can be illustrated by means of the following example: Mr. X buys a car of the car dealer Z. The car dealer Z is not only a car dealer, but it is also a finance company that helps Mr. X financing his car by granting him a loan. The advantage of this is, that it is very uncomplicated to get a loan. One disadvantage is that the interest rate is very high.
A securies dealer is for example a broker. A broker deals with stocks and bonds of his customers, but he nerver owns them. Altough his service is very expensive, it is very important to have one, because he has the necessary skils to generate profits.
Money and Banking
The following report deals with understanding money and banking. In particular it explains the different financial institutions.
According to Griffin, money includes any object that is portable, divisible, durable, and stable and that serves as a medium of exchange, a store of value, and a unit of account. Money serves the medium of exchange function by eliminating the need for a barter account. In the form of currency, money can be used for future purchases and allows people to “store value” Money is an account, allowing people to measure the relative value of goods and services.
This leads me to the two measures of the money supply. First, is called “M1”, includes the currency, demand deposits and other checkable deposits. By contrast “M2” includes all the components of M1 plus time deposits, money market mutual funds and saving deposits. M2 is considered the most reliable measure of the money supply.
The main function of financial institutions is to ease the flow of money from sectors with surpluses to sectors with deficits. The most common types of financial institutions are commercial banks, savings and loans associations, mutual savings banks and non-deposit institutions.
The Commercial banks range from the very largest institutions in New York. Bank liabilities include checking accounts and savings account and accepted deposits that it uses to make loans and earn profits. On the other hand the S&L institution accepted deposits and making loans primarily for home mortgages.
The mutual savings bank, all depositors are considered owners of the bank. All profits are divided proportionately among depositors, who receive dividends.
Finally, the non-deposit institutions are a variety of other organizations. Four of the most important are pension fund, insurance companies, finance companies and securities investment dealer or broker.
A pension fund is a non-deposit pool of funds managed to provide retirement income for its members. Public pension funds include Social Security and retirement programs for state and local government employees. On the other hand private pension funds are operated by employers, unions, and other private groups.
The insurance company collect large pools of funds from the premiums charged of coverage. Funds are invested in stocks, real estate, and other assets.
Thirdly non-deposit institutions called Finance Company that engaged in making loans to individuals or businesses. Comparing with a bank, it does not receive deposits from the public.
The S&L institution buys and sells stocks and bonds both for investors and for its own accounts. These companies hold large sums of money for transfer between buyers and sellers.
To conclude, it can be said that it is important to know the main difference between the financial institutions to avoid any mistakes.
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