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Quastions ch 3 - Essay Example

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Politicians engage citizens by enticing them with promises that aim at improving their living standards. In addition, majority of politicians employs influential philosophies that…
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Quastions ch 3
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Questions Chapter 3 Questions Chapter 3 Question Prominent political philosophies and practices include economic, social, and military reforms. Politicians engage citizens by enticing them with promises that aim at improving their living standards. In addition, majority of politicians employs influential philosophies that either compromises their opponents’ chances of winning elections or promoting their abilities.
Political environments remain governed by various policies and regulations. The political policies regulate practices of campaigns, immoral acts, and other financial regulations. It is indispensable to fathom those political philosophies besides influencing economic, and social activities may contribute to stable practices internationally and locally.
Question 2
Contemporary profile trends of political systems involves democracy and totalitarianism. Totalitarianism constitutes non-democratic government political spectrum with issues such as dictatorship, communist, fascist, and authority. Democratic government profile remains reactionary, liberal, radical, and conservative. Other profile trends in political systems revolves around engines of democracy and third wave of democracy issues.
Question 3
Third wave democracy issues and engines of democracy constitute the modern trends in contemporary political systems. Third wave democracy relates to the main surge of democracy in history. The surge results from vast international push towards democracy in the 21st century. Engines of democracy constitute developments that drives success of modern political systems including improved communications technology and failure of totalitarian regimes in delivering economic progress. Another engine of democracy for contemporary political trends includes economic dividends of increasing political freedom.
Question 4
Political risks entail perils faced by corporations, investors, and governments during economic relations. The risks also involve political decisions or events within a nation that may adversely affect sustainability or profitability of investments.
Management of political risks consists of a three-step process that includes identification of fundamental perils, measuring political influence on performance, and determination of the appropriate method of managing the risks. Identification involves risk managers scanning horizons for political risks and developing inventory of specific risks types. The next step involves assessment and quantification of potential impacts of political risks. Quantification may involve the use of discounted cash flow method to estimate financial influence of certain political events. Lastly, managing political risks involves mapping potential risks management methods against those of priority risks. After establishing course of action, risk management team assigns responsibilities and forms a schedule for consultation, review, and reporting risks. For instance, organizations that suffers from corruption may review their code of conduct and establish training sessions that would mitigate embezzlement of funds (McKellar, 2010).
Question 5
The most significant drawback of passive political management is that the risks will remain recurrent as managers opt to partially hedge exposure to political perils. Passive management also assumes that it is difficult to model systematically political hazards, an assumption that may derail mitigation factors. On the contrary, proactive political risk managers believe that political events normally unfold within observable patterns which statistical methods have the capability of detecting. The managers also beliefs that negative and positive political events within any country are not random or independent.
Active political risk management involves rigorous quantitative analysis that assists in estimating the degree of political risks within a specific nation. On the contrary, passive political risk management is imperative in providing temporary solutions to potential hazards. Besides, passive managers typically buy insurances that aim at protecting their organizations from political risks.
Question 6
Legal environment consists of systems that create, interprets and enforces laws and regulations in a particular jurisdiction. Common principals within the legal environment include respect and commitment to the formulated laws. In addition, the legal system practices common, civil, theocratic, and customary laws.
Question 7
Contemporary trends in legal include preference for stability and influence from national legacies. Modern legal systems aims at establishing stable laws and regulations that the society cannot violate. The systems strive in dealing with dynamic societal immoral acts following revolution in technology. Moreover, dynamism in societal cultures and activities requires constant change in laws that prompts a consequent revolution in legal systems. Modern legal systems also face influence from national legacies including established laws and other prominent professionals.
Question 8
International companies face legal issues relating to operational and strategic concerns. Operational concerns include starting a business, entering and enforcing contracts in foreign countries, and closing down businesses. Other legal issues relating to business operations includes hiring and firing local workers. Within foreign community, different legal issues surround processes of firing or hiring native workers including salaries and maintaining of cultures. Strategic concerns facing international business managers includes product safety and liability, marketplace behaviors, legal jurisdictions, and arbitrations. Product origin and local content also influences business operating in internationally.
References
McKellar, R. (2010). A short guide to political risk. Farnham: Gower. Read More
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