What are the advantages and disadvantages of letters of credit? http://www.answers.com/Q/Advantages_and_disadvantages_of_Letter_of_Credit Letter of Credit Advantages for both Importers and Exporters For the Exporter/Seller: Upon presentation of the specified documents (in strict conformance) the Buyer/Exporter is guaranteed payment (the exception is if the Issuing Bank folds) Eliminates risk of the buyer canceling the order and therefore reduces production risk Makes it easier for the Buyer/Exporter
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Cultural Relativism: A Moral Fallacy Cultural Relativism is the theory that all belief’s are equally valid and that truth itself is relative‚ depending on the situation‚ environment and individual. Those who hold the belief of Cultural Relativist‚ hold that all beliefs are completely relative to the individual within a cultural identity. In this essay‚ I will show that cultural relativism is unreliable as an ethical theory by showing the irrationality of the arguments that support it. The
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Understanding other cultures without making judgments about the way they do things or the way they understand and react to things is the basic concept of cultural relativity. The importance of this idea is demostrated by Richard B. Lee in his story about the Christmas feast with the !Kung. In this story Lee‚ a social anthropologist living with the tribe‚ experiences a misunderstanding that almost caused him to pack his belongings and leave the bushmen which were the subject of his study
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expected to self-audit; that is‚ to identify the skills needed to achieve the objective. Typically they do not rely on others to locate and specify their strengths and weaknesses. They are expected to monitor their own development and progress. Text What is MBO? Management by objectives (MBO) is a systematic and organized approach that allows management to focus on achievable goals and to attain the best possible results from available resources. It aims to increase organizational performance by aligning
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What is intelligence? Sattler describes a famous symposium conducted in 1921 at which 13 psychologists gave 13 different definitions of intelligence (1992‚ pp. 44-45). Some of these definitions are paraphrased below: Intelligence is. . . the tendency to take and maintain a direction. . . judgment‚ otherwise called good sense‚ practical sense‚ initiative. . . everything intellectual can be reduced to . . . relations or correlates. . . adjustment or adaptation to the environment. . . global capacity
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Essay: “what are advantages and disadvantages of ethical behavior in business?” Business Ethics Some commentators‚ such as Milton Friedman‚ believe that the "primary and only responsibility of business is to make money" while abiding by the law. Supporters of this point of view argue that companies’ self-interested pursuit of profit benefits the whole of society. Profitable businesses clearly benefit shareholders‚ but other commentators‚ such as Edward Freeman‚ argue that businesses should also
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The Internet as a Learning Tool: Planning Perspectives (the Singapore Experience) Jeremy Tan <jeremy@ncb.gov.sg> National Computer Board‚ Singapore Sam Wong <wpm@moe.ac.sg> Ministry of Education‚ Singapore Background In 1991‚ Singapore came online through her first Internet service provider (ISP)‚ Technet Unit. This unit was part of the National University of Singapore‚ with funding by the National Science and Technology Board (NSTB). Internet access was then limited to R&D
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What are the advantages and disadvantages of social media? Advantages are: You can deliver improved customer service and respond effectively to feedback customers you have connected with. You also have worldwide connectivity which helps one find romance‚ see-king a new job‚ or locating assistance. Real-time information sharing which mean you can exchange information in real-time via a chat. This is a good feature because teachers can use this to use to facilitate classroom discussions. The advantages
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A gadget is a device or appliance having a unique purpose and function. At the time of invention‚ a gadget is often way ahead of its peers in terms of novelty and uniqueness. This is what makes them‚ so desirable and ’cool’! The top ten gadgets that changed the world are debatable. Nevertheless‚ popular choices would be the television‚ telephone‚ camera‚ movie camera‚ microwave oven‚ video cassette player and recorder‚ video gaming consoles‚ Sony’s Walkman‚ IBM’s personal computer or PC and the
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Economic restructuring: Economic restructuring has happened because globalisation increases competition meaning the British economy has been restructured‚ largely at the expense of manufacturing. This is because many British manufacturing firms have transferred production offshore. This allows them to focus on high value and high skill activities such as research‚ product design/ development and marketing. Foreign direct investment: Investment into the UK through TNC’s is important as
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