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Joint Stock Company
Quiz by Cherry
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​What is a Joint Stock Company?
A sole proprietorshipA sole proprietorship
A type of government organization
A voluntary association of individuals
A non-profit organization
​The capital of a Joint Stock Company is divided into small units called:
Loans
DebenturesÂ
Shares
Bonds
What is a Joint Stock Company?
The capital of a Joint Stock Company is divided into small units called:
What is the minimum number of members required to form a Public Joint Stock Company?
In a Joint Stock Company, who are considered the owners?
Which feature of a Joint Stock Company ensures it has a continuous existence?
What does the term "Limited Liability" mean in the context of a Joint Stock Company?
Why might a Joint Stock Company have a "Common Seal"?
Which of the following is a demerit of a Joint Stock Company?
The management of a Joint Stock Company is typically in the hands of:
What is the main reason for the delay in the decision-making process in a Joint Stock Company?
Joint Stock Company & Cooperative SocietyWhat was the first successful English joint stock company established in 1606? Which colony established the House of Burgesses? Which colony established the first representative assembly in America? What was the name of the rebellion led by Nathaniel Bacon in 1676 against the colonial government of Virginia? Which document established a direct democracy in the Plymouth Colony? Which religious group sought to purify the Church of England and settled in Massachusetts Bay Colony? What was the name given to the religious group that believed in the inner light and equality of all people? Which term refers to the brutal journey that enslaved Africans were forced to endure across the Atlantic Ocean? What was the religious revival movement that swept through the American colonies in the 1730s and 1740s? What was the name given to the practice of individuals agreeing to work for a set period of time in exchange for passage to the American colonies?XI ISC 7. Joint Stock CompanyIf we look at the United States on a map today, it is very difficult to imagine that where we see borders, cities, and states, there once existed nothing but open land, uncharted mountain ranges, and miles of untouched wilderness. North America was a highly desired destination for exploration and settlement for Europeans. In the early 1500s, expeditions from Europe to North America were funded by Europe's kings and queens in hopes of expanding their territories across the world. The voyages were treacherous with unknown dangers and many attempts to settle in this new land were faced with failure. In the early 1600’s however, the settlers of Jamestown and Plymouth survived the harsh conditions and established the first two permanent English settlements in North America. Jamestown Colony in Virginia Jamestown was founded in 1607. Of course, its colonists did not know it would go on to become the the first permanent English settlement in the Americas. The settlement was located along the James River off Chesapeake Bay in modern-day Virginia. Life in Jamestown was very hard, and nearly 80% of the first settlers died in the first year due to disease and starvation. The region was warm and had fertile soil, making it a perfect place for growing crops, specifically tobacco. Sponsored by a joint stock company known as the Virginia Company of London, Jamestown was originally established as a profit-making enterprise. The first settlers looked for gold and other natural resources that could bring a profit to the company's investors. After several very difficult years, the colonists were eventually able to grow tobacco that was popular in England and it became a valuable cash crop. Jamestown's colonists were primarily all supporters of the Church of England and felt a strong connection to their homeland. Many, like John Smith, returned to England, or would move back and forth between the two locations. Being that Jamestown was founded by a corporation looking to make a profit, it began using enslaved labor in 1619. Indentured servants and enslaved Africans made up much of the workforce on the growing tobacco and cotton plantations. The system of using enslaved Africans for the profit of American plantations has been described as America's "original sin". About 400 miles to the north of Jamestown, a group of Pilgrims seeking religious freedom established Plymouth in 1620 as the second English colony in North America. Located in modern day Massachusetts, the colder climate and rocky soil made farming and agriculture more difficult. Instead of growing cash crops, settlers turned to lumber, shipbuilding, and fishing for trade. Unlike the settlers of Jamestown, the Pilgrims of Plymouth Colony were dissenters from the Church of England. They came to the New World so that they could freely practice their religion without fear of persecution. Although their reasons for settling were different, the settlements had many similar experiences. Jamestown and Plymouth both faced harsh and demanding climates and struggled with hunger, disease, and death. In their first years they had much difficulty establishing housing and finding a sustainable source of food. Plymouth Colony in New England While the settlers in Jamestown used the House of Burgesses as a legislative body for laws and decisions, the Pilgrims in Plymouth wrote and agreed to the Mayflower Compact as a set of rules for self-government. Both helped maintain the rule of law in new places far from the courts and tradition of England. Settlers of both colonies experienced complicated and, at times, violent relationships with local Native Americans that owned the land. While some American Indian groups offered help to the new settlers, oftentimes both sides needed to defend themselves from attacks. Nevertheless, the settlers of Jamestown and Plymouth persevered through these difficulties and maintained their establishments, providing inspiration for future colonies and settlers in search of a new life in the New World.Encomienda system, What was the purpose of joint-stock companies? What did the Europeans bring to the Americas that most likely made it easier to conquer the Indigenous peoples? Management and Globalization Global Management Why companies go global How companies for global Global Business environments Global Business Types of global business Pros and cons of global businesses Ethnic Challenges for global business Culture and Global Diversity Cultural intelligence Silent language of culture Tight and loose cultures Values and national cultures Global Management Learning Are management theories universal? Intercultural competencies Global learning goals Key concepts of the challenges of globalisation: Global economy Resources, markets and competition are worldwide in scope Internationalisation The process of increasing involvement in international operations Globalization/Deglobalization Glob- the growing interdependence among elements in the global economy The worldwide interdependence of resource flows, product markets and business competition World 3.0 Different views: World flat vs. round Distance is a metaphor that represents the degree of dissimilarities between countries Balancing cooperation in the global Global Management Global management - managing things in different countries Managing business and organizations with interests in more than one country What do we expect from global Managers Knowing how to adapt Knowing the language Global Manager Is culturally aware and informed on international affairs International Business Conducting for-profit transactions of goods and services across national boundaries International Motive Why do firms internatioalize their activities Cheaper labour Labour tax Natural resources Enrolments to do business Clientele Exclusive materials Personal benefits: Taxes Reasons why businesses go global Customers Suppluers Capital During (1993) - 4 motive 1. Market seeking 2. Efficiency Seeking 3. Resource seeking 4. Strategic Asset Seeking Cuervo Cazurra, Narula and un (2015) - 4 motive s Internationalization Motives A company may also explore the opportunities in different markets in order to take advantage and in some cases extend the product life cycle What is a Market Entry Strategy Involves the sale of goods or services to foreign markets but do not require expensive investments Franchising Exporting and importing Involve the sale of goods or services to foreign markets but do Types of market entry strategies Global sourcing Exporting Importing Licensing agreement Franchising Types of Foreign Direct Investment (FDI) strategies: Joint venture Strategic alliance Owned Subsidiary (sometimes called WOS) How to go abroad What conditions will affect the decisions of firms on how to internationalize their activities? During (1978)- Eclectic paradigm OLI model OLI- Ownership, Location and Internalization Advantages Ownership advantages Resources owned by the organization that can be transferred across locations include trademarks, production techniques and processes, managerial skills and other resources not available to the competitors Location Advantages Represent the implications of choosing to produce or to perform activities in a specific location (country or region) Internalization Advantages: The ability to internalize or to incorporate activities that add value to its business Evolution of Concepts- New Elements Although economic factors are certainly important to explain the formation, growth and expansion of firms within and across national borders, they are not sufficient to explain the additional complexity when a firm decides to expand its activities across national borders Economic factors Investigate the economic elements that affect the internationalization of firms Behavioural Elements Explaining the additional challenges (and perhaps opportunities) a firm faces in foreign host countries when compared to indigenous (local) firms Behavioural theories Johanson and Wiedersheim-Paul (1975) and Johanson and Vahlne (1977) Included the psychic Distance concept (beckerman,1956) to explain the internationalization behaviour of firms The Uppsala internationalization model Psychic distance is: the sum of factors preventing the flow of infomatio from and to the market Psychic Distance is a broad concept that includes several elements such as: language, culture, political systems, level of education, level of industrial development Firms behave in a “Risk Averse” manner It means that when the perceived risk goes down, the firm increase its commitment to the foreign market \ The Haier Group Data Strategy Big DATA and Small DATA The use of small data to satisfy individual customers’ needs, however, the book mentions a huge cultural shock at the plant in Camden, south caroline Ex: top down, hard hat colors and hierarchy Culutral Differnces can have a huge impact on the internationalization of firms Kogut and Singh (1988)- Cultural Distance Index First statsical study on the implication of ciltiral distance to the selection of entry mode When investigating in culturally distant countries, foreign firms can choose to partner with foreign firms in order to gain local knowledge and share the risk associated to the investment (higher commitment = higher risk) How Companies Go Global Global sourcing The process of purchasing materials or services around teh world for local use Exporting Selling locally made products in foreign markets Importing Buying foreign made products and selling them domestically Exports correspond to what percentage of Candain GDP What countries are the major trending partners of Canada Management and Globalization How Companies Go Global Licensing Agreement One firm pays a fee for rights to make or sell another company’s products What are the potential risks associated to licesning The case of new balance in China Franchising A fee is paid for the rights to use another firms name, branding and methods Insourcing Insourcing: refers to local job creation that results from foreign direct investment Types of insourcing Joint ventures: operate in a foreign country through co-ownership by foreign and local partners Strategic alliances: A partnership in which foreign and domestic firms share resources and knowledge for mutual gains Foreign subsidiaries: local operation completely owned by a foreign firm Criteria for choosing a joint venture partner: Familiarity with your firm’s major business String local workforce Values its customers Future expansion possibilities Strong local market for partner’s own products Good Profit potential Sound financial standing Global business environments Legal and poliical systems Trade agreements and trade barriers Regional economic alliances Legal and political systems Differing laws and practices regards Business ownership Negotiation and implementation of contracts Foreign currency exchange Protection of intellectual property rights Counterfeit merchandise Political risk Potential loss in value of foreign investment due to instability and political changes in the host country Political risk analysis (expertise/experience) Forecast political disruptions that threaten the value of a foreign investment Changes in the rules of the game Brexit US Trade Wars-mexico-China Other examples Bolivia, Venezuela, China De-globalization The process of weakening interdependence among nations Trade Agreements and trade Barriers World trade organization Most favourd nation status Tariffs Nontariss barriers (quotes, restrictions, etc.) Protectionism Regional Economic Alliances USMCA (replacment for the NAFTA-North American Free trade Agreement) EU- European Union APEC- Aisa Pacific Economic Copperation ASEAN - Association of Southeast Asian Nationas SADC - Southern Africa Development Community MERCOSUR- Chapter 5- Global Management and Cultural Diversity (part 2) Review Types of global business Global corporation MNE (multinational enterprise) or MNC (multinational corporation) with extensive business operations in more than one foreign country Transnational corporation A global corporation that operates worldwide on borderless basis Some host country complaints about MNCs Host Country companits about MNCs: Excessive profits Interference with local government Domination of local economy Interference with local government Hiring the best local talent Limited technology transfer Disrespect for local customers Examples - War in Ukraine Disruption in global -value chains and increased pressure and interference of MNCs with local government Fertilizer imports in Brazil (one of the major producers of agricultural commodities) We must consider the triple bottom line and the impact in society, the environment and the economy $2.5 billion invest in potash mine in Brazill What about Globalization gap Large multinationals adn industrilizednaitons gaining disporoportinonally form globalization Globalization gap: Large multinational and industrialized nations gaining disproportionally from Globalization Some MNC complaints about host countries MNC Complaints about host countries: Profiit limitations Laws and regulations Overpirce resources Exploitative rules Foreign exchange restriction Failure to uphold contracts Mutual benefits for host countries and multinational companies Mutual benefits for host country and global corporation of MNC: Shared growth opportunities Shared income opportunities Shared learning opportunities Share development opportunities Develop projects together What are some of the ethical challenges for global business Ethincal challenges for global business Child labour Employmnet of children for worl otherwise done by adults Sweatshops Employment of workers at very low wages for long hours in poor working conditions Ex: Nike bad labour prices Unsafe working conditions Corruption Illegal practices that further one’s business interests Corrupiotn of froeign public officials Act makes it illegal for Candain firms and their representatives to engage in corrupt practices overseas Bribes to foreign officials Excessive commissions Non-monetary gifts Sweatshops Conflict materials What is culture Culture : The shared set of beliefs, values, and patterns of behvaiourr common to a group of people Food preferences Values and traditions Language and beliefs Religion Art music Life style Hofstede defines culture as: “The collectiv programing of teh mind distinguishing the members of one group or category of people from others” What is culture shock Culture Shock: Confusion and discoumfert a person experiences in an unfaamiliar culture Stages to adjusting to a new culture Confusion Small vitorires The honeymoon Irritation and anger Reality Cultural Intelligence The ability to adapt and adjust to new cultures What is Ethnocentrism Tendency to consider one’s own culture as superior others Slinet languages of culture Contect Low context High context Space Proxemics Ex: personal space Time Monochronic Polychronic High and low contexts cultures Edward T.Hall (1959) Def: Part of a discourse that surround a word or passage and can throw on its meaning Low context cultures Emphizes communication via spoken or written words Countries like United States, Canada and Germany High context cultures Rely on nonverbal and situational cues as well as on spoken or written works Thailand Malaysia Time Monochronic cultures People tend to do one thing at a time Canda Polychronic cultures Time is used to accomplish many different things at once Egypt Space Proxemics Study of how people use space to communicate In North American people value “personal space’ Many Latin and Asian cultures expect much less personal space Tight and Loose Cultures Cultural tightness-looseness Tight = Strength of norms that govern social behvaviour Japan, Korea, Malaysia Loose = tolerance for any deviation from norms Australia, Brazil, Hungary Values and national cultures (Hofstede) Power distance Uncertainty avoidance Individalism-collectivism Masculinity-femininty Time Orientation Indulgence vs. Restraint Comparative management How management pratices systematically differ among countries and /or cultures Intercultural competencies Skills and personal characteristics that help us be successful in cross cultural situations Global Managers (know how to adapt) Need to successfully apply management functions across interantional boundaries Global Learning goals Not universal Engage critical thinking Look everywhere for new management ideas Always consider culture •There are two type of fruit trees namely indigenous and exotic trees. Indigenous trees: • these are fruit trees that grow naturally in an area. •Examples of indigenous trees are baobab, wild loquat, sugar apple, mobola plum and cape figs. Exotic trees: • These are trees which originally grew in other countries and are being grown in Zimbabwe. • Examples of these are oranges, naartjies, bananas, paw paws and avocado. Propagating fruit trees •There are different ways of multiplying or propagating fruit trees. •These include seeds, cuttings and grafting. Seeds: •Indigenous trees usually grow on their own. •They grow from seeds. •The early stages of a growing seed is called germination. •Fruit trees seeds are planted differently from field crops or vegetables. •The seeds are raised in a nursery or individually in containers or polythene pockets. sowing of the seed •Seed boxes, pots or polythene pockets should be filled with soil mixed with organic matter. •Leave about 20mm above the soil for water to collect when watering. •The polythene pocket should be punctured around and beneath to allow water drainage. Cuttings •A cutting is a piece of plant such as a stem, root or leaf that is placed in moist soil. •it will then grow the missing parts to produce a full plant under the right conditions •Mulberry, guavas, granadillas, figs, grapes and apples can be grown using cuttings. Grafting or budding •This is when you slice a piece from one plant and join it onto another plant. •The joining or grafting of these two plants will then grow as a single plant. •It is whereby the upper part (scion) of one plant grows on the root system (root stock) of another plant of another plantWhat is an earthquake? Would you be surprised to learn that several million earthquakes happen every year? Seriously. Most are so small in magnitude or size that we cannot even feel them. In fact, only 20 earthquakes are efficiently reported each year in the United States Geological Survey. Wow! That is a huge difference! The Earth has four major layers. Inner core, outer core, mantle, and crust. Think of the crust and top of the mantle like the skin of the earth. This skin is made up of different pieces of rock called tectonic plates. There are about 15 major slabs that join together, kind of like a puzzle. The edges around the tectonic plates are called plate boundaries. These massive pieces of rock slide back and forth under the Earth's surface, bumping up against each other and creating a lot of tension. This tension and movement create faults, which are basically huge cracks in the rock. When the faults get stuck, they build up pressure. And when they get unstuck, you guessed it, an earthquake. So basically, an earthquake is caused by the shifting and sliding of tectonic plates on the Earth's upper mantle and crust. There are three ways that tectonic plates shift or slide. They are subduction, lateral sliding, and spreading. Subduction happens when plates crash into each other. This can cause one plate to slide under another and be destroyed. Or the edges of the plate may rise up and form mountains. Lateral sliding means that the plates slide alongside each other, which can create lots of friction. And like you might have guessed, spreading happens when plates move apart from each other. When they do, melted rock between the plates rises and cools, forming new crust. Here's an interesting fact. Nearly 90% of all earthquakes begin in the Pacific Ocean, in an area called the Ring of Fire. It's called the Ring of Fire because along with earthquakes, it's filled with many active volcanoes. More than 450! Earthquakes can be powerful enough to change the surface of the earth and can do a lot of damage. And sometimes earthquakes can even cause other natural disasters, like avalanches, landslides, and tsunamis. Pretty wild, right? The epicenter is the location of an earthquake on the Earth's surface. The closer you are to the epicenter, the more of the earthquake you will feel. Earthquakes lose intensity as they travel away from the epicenter. Scientists measure the intensity of an earthquake using a special device called a seismograph. Seismometers detect and measure the vibrations given off by an earthquake. Magnitude is the number given to record the size of an earthquake. For example, a magnitude 5.5 is considered moderate. Above 8.0 is considered a major earthquake and we see one every year or two. Earthquakes measured at 2.5 or less are usually not felt, but can be recorded. And believe it or not, there are millions that happen each year. You can make a model of a seismograph at home, and we are going to show you how. It's activity time! You can print off directions for this one on our website at learnbright.org. You'll need a cardboard box, string, a plastic cup, a marker, small heavy objects, a long strip of paper, and a friend because this is an activity for at least two people. Now comes the fun part. One friend shakes the box, alternating between hard and soft and slow and fast, while the other friend is pulling the strip of paper through the bottom. Watch the marker as it records the movement. This is exactly what a seismograph does during an earthquake. So, in a way, we have not only created our own seismograph, but our own earthquake as well. Now, we can analyze the data just like scientists. Can you tell how hard the box was shaking based on the line? Can you tell when it was barely shaking at all? You are on your way to becoming a seismologist. A seismologist is a person that studies earthquakes. It's pretty cool to watch the process, but it's even more exciting to do it yourself. You can head on over to our website to get detailed instructions for this activity. Just download the lesson plan and as always have fun! Hope you had fun learning with us! Visit us at learnbright.org for thousands of Hope you had fun learning with us! Visit us at learnbright.org for thousands of free resources and turnkey solutions for teachers and homeschoolers.