Explain The Concept Of The Customer Experience

0 1.1. Explain the concept of the ‘customer experience’ The customer experience comprises of the product of the interactions a customer has with a company and its services. The overall experience reflects how the customer feels about the company and what it has to offer meaning the experience could either be a good or a bad one. 0 1.2. Describe techniques used to analyse customer service performance data Surveys, feedback forms and other data collection techniques are all ways in which a company is able to determine the customer experience and analyse any customer service performance dat. Once any data has been collected it must be analysed in a way that can provide feedback to the company in such a way that action can be taken as a result. For many companies this will be a continuous cycle of improvement 0 1.3. Explain the factors to be taken into account in setting customer service performance targets and objectives Many companies use the acronym SMART when setting company targets. This includes targets concerning customer service. The SMART acronym highlights how targets should be Specific Measurable Achievable Realistic Time-Bound You need to set ambitious targets that will motivate and inspire your employees; however it is important to get the balance correct otherwise you risk disheartening them. Companies should refer back to past performance data for recent years to get a sense of what kind of performance boosts you ve seen before – doing this will help give aShow MoreRelatedFun Made in Ducna1484 Words   |  6 Pageson the following Questions for Discussion: 1.Analyze the buyer decision process of a typical Porsche customer.   2.Contrast the traditional Porsche customer decision process to the decision process for a Cayenne or a Panamera customer.   3.Which concepts from the chapter explain why Porsche sold so many lower-priced models in the 1970s and 1980s?   4.Explain how both positive and negative consumer attitudes toward a brand like Porsche develop. 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Critical Analysis of Frustration - 1394 Words

Critical Analysis of â€Å"Frustration† By Isaac Asimov Name: Joshua Hilstad Thesis Statement: Wars can never be justified by one person, or group, thinking they are better than someone else, but unfortunately the human characteristic of self-righteousness never changes. The concept of this story is that war can never be justified through self-righteousness. That is, if a person is trying to start a war because he thinks himself to be better than his target, there is no just reason for him to do it. Most, if not all, wars are primarily begun by one man believing himself to be better than is target. This is proven through the history of Rome and other nations.†¦show more content†¦In reply Peter says, â€Å"Yes, of course. But the computer will presumably compare the casualties and other damage-to the economy and ecology, for instance-to the benefits that would derive from our control of the world, and if it decides the benefits outweigh the casualties, then it will give the go-ahead for a ‘just war’†. The computers in the story could not find a good enough excuse for a â€Å"just war† because they had no sense of self-righteousness. They did notShow MoreRelatedHello Professor Essay757 Words   |  4 PagesPrepare a critical analysis of a quantitative study focusing on protection of human participants, data collection, data analysis, problem statement, and interpretation of findings. Each study analysis will be 750-1,000 words and submitted in one document. Prepare this assignment according to the APA guidelines found in the APA Style Guide. An abstract is not required. Submit the assignment along with an electronic version of the article used for the analysis. 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Oil and Gas Industries Legal Aspects

Question: Examine and evaluate the key areas and features that governments should focus on during their negotiation process and in the drafting of contracts with the International Oil Companies? Answer: Introduction Oil and gas discoveries create a lot of excitement in the private as well as the public sector as and when the same are discovered in any nation. Both the government as well as the oil companies put in a lot of efforts to understand the technical, commercial and the legal aspects in the developmental field of this industry. The initial challenge in this matter is posed by the negotiation process when the contract is drafted (Alcantara, 2013). In this present paper, we shall look into the basic concepts that should be taken under consideration by the government while the negotiation process is done. The impetus shall be applied on the key concepts that should be considered of prime importance that insight the matters of informational environments, the elementary issues as well as the time horizon. As and when the nations come to know of the natural resource called oil, they get hold of an extreme feel of happiness (Tracy, 2013). But, as soon as they inextricably move towards implementing the industry in their nation, they get exposure to the prevailing reality which throws light over the financial, commercial and the political constraints which are directly attributable to the fact that none of the resources underlying in the nation can be used to be transformed into a usable liquid asset popularly known as cash (Brooks and Odiorne, 1984). The most impelling challenge is posed in the negotiation process itself. In most of the situations, the resource rich nations keep a special interest to draw the attention of the international oil companies so that their natural resources can be further explored and they can be transformed into usable products (Taylor, 2005). But, as soon as the negotiation process with the international players start, it is realised that these market holder s already have a wider and higher exposure in this particular field and hence, they stand in better financial positions thereby possessing higher degree of knowledge while dealing with these contracts (Radon, 2012). This happens to be a vital reason why a high level of motivation is displayed by the oil companies when they enter into the negotiations (Crockett, 2003). The immoderate and theoretical investigations are hated by them and considering the total number of dry wells that they experience, they quickly try to move out and mitigate the out-of-pocket expenses made. They do not have any fixed assurance that their home governments will extend any protection to them and hence they often end up mourning for the hostile environment that is provided to them for working. Adjustment in the negotiation style is made by the oil companies following the political satire in which they are bound to stay (Radon, 2012). They resort to taking a self-protecting and uncompromising attitude while the negotiations for these purposes are met. Issues During Negotiation There may be two classes into which the key issues arising during the negotiation process are divided into. One of them deals with the conflict zone under which control is exercised over the company and the issues related to the recruitment concerns are dealt with in this part. This conflict zone deals with the maximum efforts (Nyden, Vitasek and Frydlinger, 2015). The concerned issues are related to either technical matters or commercial purposes. While on the other hand, there are several other factors which are ignored in the negotiation process and these are related to the environmental, economic, social, and political ones on the whole. Dealing With The Locals Attempt shall now be made to know the various challenges that a oil company faces while it enters into dealings. The first challenge is faced by the companies when the local and the indigenous population comes forward with their demands as they start facing a lot of problems and go through a substantial amount of loss as and when the oil companies come forward and take up the land that was previously owned by these people (Wilson, 2004). The demand which they raise is that they ask for either job offers in the company once it is set up or claim for compensatory payments. As far as these demands are concerned, they have to be attended to especially in the process of negotiation and must be handled both with domestic process along with a good amount of political influence. Generally speaking, all oil contracts are the result of a comprehensive negotiation process as all that is negotiated upon is finally incorporated in the contract (Radon, 2012). As such, they do not differ from the b idding situations that are generally referred to as negotiation neutral. The issues rise in different stages in the contract process and each one of them takes up a complex structure as and when progress is made in the procedure. The final achieved result after all sort of negotiations is nothing but an outcome of give and take as whatever is achieved is done through a negotiation itself negotiation (Crump, 2011). Cost Related Matters Once the issue is settled with the locals, problems start arising in the matters of cost of exploration and development as the market conditions change and evolve constantly and the field size possibility. The risk of falling under the trap of dry holes can never be forgotten and these are only a few of the long list of difficulties. Hence, the requirement at this instance is that the negotiators taking part in the process are supposed to have a working knowledge of the process so that the several instances in which the negotiation takes place happens just like an element of poker in which the bidder with the big deals always has the higher chances of winning the deal (Zartman and Spector, 2013). The negotiators should rely on effectively managing the time at this instance. While the procedure continues, there are certain intervals when one should hurry up and just a moment later, time comes when one should deal with things patiently. Time is one of the most important factors to ensu re that what is wanted is achieved. The aim is principally limited to maximise the returns that the country can achieve while the lowest cost is spent keeping the economy and the society under control. Put in simple words, this means that one is supposed to understand the pressures that are posed both from the political attitude as well as the corporate setting maintaining a balance between the two. The Negotiating Team When we make an attempt to understand the negotiating challenges in case of oil companies, the major challenge faced by the government is often regarding the personnel who would be sitting in the negotiating team. This is challenging on various instances because it is the responsibility of the negotiators to see that a coherent strategy is developed under the well conceived tactics. Another duty that is bestowed on them is to compartmentalize the negotiable factors from the non negotiable ones. While all this is in action, they should focus on maximizing the profit of the principal investor which is none else then the oil company. The investors in the oil companies always look towards having a proper foundation over the legal and the institutional stability (Jones Gill LLP, 2015). Generally, the countries having a new exposure in this field try to move towards the world wide terrain but the challenge before them is that their exposure in the legal or technical or financial framework and their attempts to excel in the implementation and the management is often very minimum. A viable option is to take advice from the foreign nations but while attempts are made in this regard, the government often fails. The major one is related to the conflict of interest between the big companies that are often pre established (Radon, 2012). Public-Private Conflict On the first hand, in order to exercise the regulatory power, the government protects the interest of the public sector; exactly on the other hand, in order to develop and culture an environment which will have a positive aspect over the foreign investment, it calls the private sectors to come to the forefront. This tries to promote the economy of the nation directly or indirectly and increases the opportunity in the employment sector and at the same time opens the doors for further development and research. Here, the time commences and it becomes necessary that both the private actors and the public sector go hand-in-hand with each other. Generally, the difference of opinion that arises in the process of oil negotiation is easy to deal with in a developed nation like that of Canada or Norway that have excellent processes and regulations related to the oil negotiations. The Time Factor Another constraint that is suffered by the negotiators is in relation to time. The time is largely a variant of the price of the oil in the nation which on the other hand is dependent upon the political and economic situation of the country. The high expectations maintained by the host country is put into proper shape by the negotiators when they predict and deal with all the changes that are foreseeable as well as unforeseeable. While the contract is framed, it is necessary on the part of the negotiators to base their discussion on the various issues related to time. If these trivial matters are not discussed here, then, the companies start facing difficulties at a later stage when the competition in the sector crops in and the situation goes out of control thus causing distress to both the company as well as the nation (Druckman, 2001). Thus it is very important for the negotiating team to keep in mind that the stability clauses should remain well discussed prior to setting the agr eement that shall eliminate the contractual ambiguities that are likely to arise and change the determinants of the regulatory factors of the oil companies. These clauses can be relied upon by the oil companies for a comprehensive period of five to seven years so that the regulations that are related to the tax structure as well as the financial as well as the commercial concessions remain under the control of the company. It should be made sure by the negotiators that the stability clause should be able to provide protection to the oil companies if any changes are made in the laws of the nations (Radon, 2012). The stability clauses should possess the ability to limit the liability over the oil companies as and when amendments are made by the legislatures where the relation of the law is with the environment or labour factors. While the contract is being entered into, the parties should also focus on the instabilities in the legal sector. It is no doubt that the more the instability in the legal sector of an economy, more is the demand made by the oil company (Oil-gas-leases.com, 2015). These ever increasing demands can be settled by having a good control over the bargaining power. The settlement in this regard can be made in a reconciled way. It should be kept in mind by the negotiators that the ultimate benefit should be in favor of the oil company and their interest should never be compromised. Both the demands of the government as well as the company should be addressed by the negotiators and an amicable way should be derived in a harmonious settlement thereby resulting in a better structure of the company (Kennedy, Benson and McMillan, 1982). Transparency In Negotiation This requirement can never be overlooked while drafting the contract. There is undoubtedly any dispute on the fact that the oil company is dependent on the nation for the raw materials which is nothing but the oil and the same is derived from the land within (Smith, 2009). Hence, it is very essential that transparency should be maintained in the process for the fact that more the agreement is transparent, more public acclamation will be achieved by it (Radon, 2012). By transparency, it is simply meant that all the matters of note in the oil contract and the payments should be expressed in coherent terms while the non-disclosable information and the trade secrets should be kept under secrecy. A duty of care is definitely there towards the individuals who are the shareholders in the company. They are supposed to secure their payments in the shareholdings that have the risk of falling owing to structural changes in the company or civil issues within the nation or because of natural call s of naturalization (powerdriverbasin.org, 2015). This non closed attitude will prove beneficial for the oil company in the long run as the trust of the stakeholders is gained and thus the resources can be pooled in proper time. The public participation increases as a final result and the total process of negotiation goes in favor of the company. Selecting The Contractual Form In order to make the agreement, there are four different forms of contract that can be entered into. These are being discussed in the following paragraphs: License Agreement In agreements of these kinds, the rights to explore, export, develop or sell the oil are retained by the companies for a specified area which is clearly indicated in the agreement. Agreements of these kinds require special assistance from the professional experts and hence, possessing an expertise is one of the major prerequisites (Khong, 1986). Of course, there are a few commercial disadvantages which are related to the matter as the entire process is based on the bidding structure. Production Sharing Agreement Agreements of these kinds, rest on the principle that the ownership of the oil which is the raw material of the nation, rests on the citizen of the country rather than being a property of the private parties who are involved in the exploration work. The risks of finance and operation that are associated with the work are borne by the oil company (Radon, 2012). These agreements put a larger pressure over the government as the obligation to share the profits with the host private parties and at the same time, they are also expected to get along with the enforcement procedure in the environment maintaining a parity with the regulations that are placed before them. Joint Venture These arise when two or more parties join hands together and come forward to pursue a joint undertaking. This relies on the form of a partnership and thus requires proper mechanism of resource allocation, effective management, bringing down the financial risks along with having a proper understanding of the responsibilities that come associated with it (Radon, 2012). Usually, these joint ventures are a dreaded thing by the negotiators as it takes a long time for them to get into an amicable settlement in these agreements. Service Agreement These agreements provide specific services for which hiring of employees is done. Fixed payment is given to the contractors and it is based on the discovery of the oil or its price (Brown, 1975). The final responsibility in these matters rests on the government. Certain Key Points Some of the essential features are being summarized as under in case of oil negotiations: The negotiable matters should be kept compartmentalized from the non negotiable matters concretely; Since the structure of tax and the price of oil keep changing, hence, structuring the payments is important; Simplicity needs to be maintained and it needs to be ensured that none of the beneficiaries or the stakeholders undergo any losses; and The health and environment matters should be given importance to ensure sustainable development (Brister, 2013). References Alcantara, C. (2013).Negotiating the deal. Toronto [Ont.]: University of Toronto Press. Brister, A. (2013).Farmout Agreements: The Basics, Negotiations and Motivations - Oil and Gas Law Digest. [online] Oil and Gas Law Digest. Available at: https://www.oilandgaslawdigest.com/primers/farmout-agreements-basics-negotiations-motivations/ [Accessed 3 Aug. 2015]. Brooks, E. and Odiorne, G. (1984).Managing by negotiations. New York: Van Nostrand Reinhold Co. Brown, R. (1975).An analysis of alternative Mideastern oil agreements. McLean, VA: Decisions and Designs. Crockett, P. (2003). How to negotiate effectively.BMJ, 326(7385), pp.49Sa-49. Crump, L. (2011). Negotiation Process and Negotiation Context.International Negotiation, 16(2), pp.197-227. Druckman, (2001). Negotiation and Identity: Implications for Negotiation Theory.International Negotiation, 6(2), pp.281-291. Jones Gill LLP, (2015).Negotiation, Review and Drafting of Oil and Gas Agreements - Jones Gill LLP. [online] Available at: https://jonesgill.com/oil-and-gas-agreements/ [Accessed 3 Aug. 2015]. Kennedy, G., Benson, J. and McMillan, J. (1982).Managing negotiations. Englewood Cliffs, N.J.: Prentice-Hall. Khong, C. (1986).The politics of oil in Indonesia. Cambridge [Cambridgeshire]: Cambridge University Press. Nixon, P. (2005).Negotiation. Singapore: Wiley. Nyden, J., Vitasek, K. and Frydlinger, D. (2014).Getting to we. Oil-gas-leases.com, (2015).Oil and Gas Lease Negotiation. [online] Available at: https://www.oil-gas-leases.com/oil-gas-lease-negotiation.html [Accessed 3 Aug. 2015]. powerdriverbasin.org. (2015). [online] Available at: https://www.powderriverbasin.org/assets/Uploads/files/Oil--Gas/TipsforNegotiatingOilandGasLeaseandSurfaceUseAgreements1.pdf [Accessed 3 Aug. 2015]. Radon, J. (2012). How To Negotiate An Oil Agreement.Cambodia Review, pp.89-113. Smith, R. (2009).Negotiating environment and science. Washington, DC: Resources for the Future. Taylor, M. (2005).Negotiation. Oxford, UK: Oxford University Press. Tracy, B. (2013).Negotiation. New York: American Management Association. Wilson, E. (2004).WRPMD 1999. Reston, Va.: American Society of Civil Engineers. Zartman, I. and Spector, B. (2013). Post-Agreement Negotiating within Multilateral Regimes.International Negotiation, 18(3), pp.325-332.

Cell Phones and Driving free essay sample

A look at the dangers of cell phones and advanced technology. This paper discusses why cell phones are so dangerous by looking at a variety of accidents and injuries caused by cell phones. The author argues for the necessity of national legislation banning hand held cell phones while driving. Includes an a persuasive discussion of the way that advanced technology and communication has affected society. Radios, pets, other people in your cars. What do these things have in common? They are all distractions to a person that is driving a car. However there is one other distraction that is worse than any of these combined. This distraction can make you 4 times as likely to crash. It can be just as harmful as drunk driving (Frankfield 1). What is this distraction? It is a simple device that millions upon millions of people in our country own and use daily. It is a device that can ironically save our lives in times of danger. We will write a custom essay sample on Cell Phones and Driving or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is a cellular phone. It is for this reason that legislation must be passed nationally banning the use of hand held cell phones while driving.

7 Steps to Becoming a Freelance Writer

7 Steps to Becoming a Freelance Writer 7 Steps to Becoming a Freelance Writer 7 Steps to Becoming a Freelance Writer By Mark Nichol You love to write, and perhaps you’ve even had some of your work published, but you just can’t seem to get your career as a freelance writer of nonfiction off the ground. Here are some flight lessons: 1. Focus Nonfiction is an enormous universe. Map out a very small segment of the cosmos. Do you enjoy writing creative nonfiction long articles and essays with a narrative flair that reads almost like fiction? Or do you have a more practical bent, tending toward how-to articles or procedural guides? Perhaps you’d like to write reviews of books or video games or software or appliances. Narrow your topic field; you can always widen your scope later. 2. Adopt What are your favorite Web sites or magazines or books? Are there writers whose styles inspire you? Find the publications that publish the kinds of content you like to read, and study the writing techniques on display. Don’t strive to imitate; use this step simply to help you find your niche. 3. List Create a short directory of publications or publishers to target. Assuming you’re just starting out, list targets more likely to publish writing by a beginner, but don’t be afraid to include a couple more high-profile publications. And don’t neglect what’s right under your nose: community newspaper(s), local magazines, and Web sites that publicize your region’s businesses or cultural and natural assets. 4. Compile Collect some of your best writing published or otherwise that represents you well and matches the type of content those publications are looking for. 5. Contact Go to your publisher directory, look up the URL for publication Web sites, and search for submission guidelines. If there are none, send a request for guidelines to the editorial department’s email address or the information address. 6. Pitch Come up with proposals for a few articles or essays you’d like to write, match them to various publications, and send them in. Alternatively or in addition, submit completed articles on spec. (â€Å"On spec,† short for â€Å"on specifications,† means tailoring an already written piece toward a specific market and offering it for publication.) The strategy of writing on spec has its detractors, but it’s a good way to break into the writing market, and even if the piece itself is turned down, it may demonstrate to an editor that your pitch is worth a look, or that you might be a good match for an article they need a writer for. 7. Persevere Repeat step 6. If your pitch or your spec article is rejected, send it to someone else. If you strike out five or ten times, retire the idea, call in another one, and start another round with a new batch of publications. (Wait a few months before circling back around to those that turned you down previously, but never delete them from your directory.) Repeat. You may get an acceptance or an assignment on your first try. (It’s happened.) You may get turned down once, or ten times, or a hundred times. Don’t give up. If you want it bad enough, you’ll get it, eventually. Your goal is not to hear â€Å"No† a given number of times, but to hear â€Å"Yes† once, and then once more, and then once more after that, etc. An unpublished writer is a writer who has given up. If you would like more help to get started freelance writing online stay tuned for the re-opening of our Freelance Writing Course early in May. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:100 Words for Facial Expressions7 Tips for Writing a Film ReviewPersonification vs. Anthropomorphism

News Review Example

News Review Example News Review – Article Example Obama calls preliminary deal with Iran Our Best Bet- from New York Times In the recent past there have been calls and movesby the global community to curb the upsurge of assemble of nuclear weapons by the Iran. The world or the United Nations has in the past threatened Iran and indeed effected bans and sanctions against Iran on the purported nuclear weapons and armory collection. However, the surge of other countries and neighboring nations such as Israel have increased their participation and interest in the issue of nuclear expansion in Iran. Obama has since called the renewed surge by the global partners, the best shot and chance of curbing or dealing with the menace of Iran. In principle, Israel has also warned that it would invoke or initiate military actions on top of monitoring measures to curb the threat or surge of nuclear weapons by Iran. Question: qualitative possibility of improvement on the success of monitoring Iran nuclear plans by USA and Israel:Obama has since termed the move to join the current move and aim by Israel as the best move in ensuring that the endeavor by Iran to assemble nuclear weapons is defeated. This is so because the U.S cannot afford another military incursion into Iran on such claims and secondly, the sanction by the United Nations Security Council do not yield fruits (Shultz et al 6). In principle, the United States would be better placed to rally behind Israel who are perennial rivals with Iran and instead offer their support to ensure the nuclear plants are monitored. Similarly, it is in the best interest of the United States and the global community to have eyes in the procurement process used by Iran in the nuclear plant. The graph below shows the qualitative likelihood of success of the joint supervision and mission in Iran nuclear supervisionReferencenytimes.com/2015/04/06/world/middleeast/obama-strongly-defends-iran-nuclear-deal.Shultz, George P., et al. "A world free of nuclear weapons." Wall Street Journal 4 (2007) : A15. News Review Example News Review – Article Example News Review Article Discussed: More unemployed youths? IBGS, WSJ, 15/04 this article discusses the effect of unemployment to the economic status of Brazil. This is important because Brazil is a middle income economy with several dynamism in economic growth and unemployment rate slightly higher that its counterparts. Unemployment is increasing steadily and economic conditions are worsening. The rate of unemployment has almost tripled in the recent year with a slight decrease in rate of unemployment. Since population is the main determinant of consumption, unemployment has led to slow rate of consumption thus slow rate of economic growth.Question: use the model of regression analyze to determine the relationship between economic development and rate of unemployment. Be sure to highlight all the relevant drivers of unemployment and economic development. Answer Key: the graph below indicate the relationship of unemployment and economic development. As the rate of unemployment increase, t he rate of slow economic development also increases. The key determinant of slow economic development is the level of GDP while the key determinant of unemployment is low consumption caused by low expenditure. As the rate of unemployment increases, the rate of expenditure will reduce thus lowering consumption rate. This in turn lower the rate of GDP and thus slow economic growth.The graph below represent the above case.Graph of rate of unemployment and economic development

Human Resource Managment in Business Context Essay

Human Resource Managment in Business Context - Essay Example However, as companies design strategies, it has been found out that competitive advantages of companies are difficult to sustain and on average period, there is an observable decrease (Ruffigins & Ruefli 2005). In this regard, firms have to come up with strong strategies that will enable it to respond to the demands and challenges of the global business environment, while at the same time, keeping the company’s niche for longer period. In this situation, human resource management (HRM) plays a crucial role, since, HRM is â€Å"strategic and coherent approach to the management of an organization’s most valued assets – the people working there who individually and collectively contribute to the achievement of its objectives† (Armstrong 2006, p. 3). This view offer the notion that HRM is no longer just concern with the traditional functions that are normally associated with HRM such as payroll, recruitment, pensions, benefits and other administrative concerns (Werbel & DeMarie 2005). Instead, it offers the framework wherein HRM activities and undertakings become strategic as it aligns its functions with the goals and endeavours of the organisation. From this framework, it becomes essential that HRM develop strategies that will not only align its activities with the goals and objectives of the company, but will also help the company develop programmes and policies responsive to the demands and challenges of the business environment and not reactive to crisis as it happens (Kew & Stredwick 2010). This is significant because, in this way, HRM becomes strategic and proactive. In effect, this approach of HRM undertakes a holistic view of HR in such a way that the business environment, organisation, theories and best practices become the fundamental elements in the determination of the appropriate activities, policies, procedures and programmes for the company. In this study, The Condition Understanding the condition involves looking at two i mportant factors – external environment and internal environment. This is necessary as organisations do not operate in a vacuum, but are integrated in the society and carrying out social interactions (Tencati & Zolsnai 2009). As such, the external environment of the company is essential in understanding the business environment or climate where the company is thriving. At the same time, the internal environment of the organisation is necessary, as it will help in understanding the context of the firm. Briefly, on the external environment, globalisation has transformed the manner in which countries conduct business transactions with one another. Through globalisation, trade barriers in the forms of taxes and trade tariffs have been removed or substantially reduced. This economic policy allow for a freer movement of goods, services, products, capital and people across nations and between physical boundaries (Coatsworth 2004; Suarez-Orozco & Qin-Hillard 2004; Stiglitz 2009; Bala krishnan 2008). Moreover, another factor, which has changed the manner of doing business, is the rapid development in information and computer technology (ICT). This change has created the platform wherein knowledge and information have become an integral part of doing business, aside from the fact, that faster and newer forms of conducting business have been established in view of this development (Chi 2011). Finally, the last important factor