Can international … UK businesses, Nicola suggests, are poised to see what the outcomes of the year’s political negotiations hold. International Business Issues ‘International Business’ sounds big, complicated, interesting and fun at the same time. A second issue is market volatility, which will continue to revolve around the US-China trade war, and tensions in the Middle East, which could threaten oil supplies. "As the largest English speaking EU country post Brexit, Ireland will have a certain advantage," Eamonn adds. “People are watching and waiting, not sure what steps to take because come the end of the year, who knows what the US will look like.”. If government and business leaders don’t make radical changes, conditions won’t just stay bad, they will get worse, according to key decision makers who met this week … On International Human Rights Day, IHRB publishes the top 10 business and human rights issues for the year ahead. Deadly wildfires including those affecting Australia, hurricanes, extreme weather events, and climate-influenced migration and hunger in many parts of the world are now regular occurrences. “The US is a lot less predictable than they have been in previous years, and the election is going to tell us a lot about how they’ll behave,” Nicola explains. She previously worked as an analyst at the Australian Prudential Regulation Authority. Susan Making the decision to take your business to international customers is exciting. For Smurfit graduates, Ireland is a particularly strong place to start a business career. We see Australian growth picking up to 2.6 per cent in 2020. GMAT Vs GRE: What Do INSEAD, LBS, HEC Paris & Other Top B-Schools Really Think? What is causing a global catastrophe and how to prevent them! She recognizes how companies like hers have hit a standstill with decision making surrounding the US. To help, our team of more than 200 in-house compliance experts at Paychex has compiled the top 10 issues that should be top of mind as business owners and HR leaders continue to manage the impacts of the COVID-19 pandemic and plan for the year ahead. Finally, cybersecurity has grabbed international headlines in recent years. She manages the Asia-Pacific edition of Economy.com and is responsible for the research, analysis and forecasting of Asia-Pacific economies. Chng Lay Chew FCPA Article first published online: May 3, 2020; Issue published: June 1, 2020 Ilan Alon 1. The roaring twenties started with post-war economic prosperity and ended with the Wall Street crash. Here are the high-level issues which should be on yoursustainable business agenda in 2020. Income growth is weak, the unemployment rate has trended higher and geopolitical ructions offshore are aplenty, not least because the trade war between the world’s two largest economies, China and the US, continues to fester, with a lasting truce elusive. Inequality is being cited as a catalyst for a host of political risks in many countries—from populism in the UK and Italy to social unrest in Chile, France, Hong Kong, Lebanon, Iran, and Iraq—and will be front and center in the U.S. presidential election… Paul Bloxham is the chief economist (Australia, New Zealand and global commodities) and managing director, global research, at HSBC Bank Australia. In 2020, data protection and cyber security will be key, which is why it’s important to use secure platforms such as Onyx for hosting. List of 40 International Business Research Paper Topics. Next year is set to be challenging for the global economy. From an economic perspective, 2020 promises to be a huge year for China in the international business arena. For any size company it is becoming much easier to reach new markets, and customers to sell their products, as well as locating vendors. Read more now. CPA Australia’s tenth annual Asia-Pacific Small Business Surveyconfirms that global trade tensions are likely to be the chief cause of a weakening in small business confidence. Strong tax revenues are also expected to support increased government spending, particularly on infrastructure. As China’s exports have slowed, onshore policymakers have been boosting spending on infrastructure, which has supported demand for iron ore and coal, among other commodities, from Australia. In business and society, there is a movement to combat the climate crisis and to encourage responsibility. Navigating slower demand conditions with an outlook that is plagued with downside risk – this will be the... Chng Lay Chew FCPA. Previous vol/issue. Sign in to set up alerts. 2020 marks an uncertain year for politics. In: Millar C.C.J.M., Grant R.M., Choi C.J. © 2020 BusinessBecause Ltd. All rights reserved. Participants at the 2019 Bengaluru Tech Summit in Bangalore, India. A cooling housing market and weak local wages growth have weighed on consumer spending. Prior to joining HSBC in 2010, he spent 12 years as an economist in the Reserve Bank of Australia’s economic analysis department, where he headed the overseas economies and financial conditions sections. The survey of small business owne… She spent a week on the ground at a toy manufacturer in Lisbon, where there had been several quality issues. The employment-intensive manufacturing sector is considered a good vehicle for the road to recovery, and harnessing the potential of renewable energy could be just what is needed to boost activity in the sector. COVID-19 showed the world undeniable evidence of the inequities faced by under-represented people. 2020 marks an uncertain year for politics. Business news, Economy ... Filing Form 4868 gives taxpayers until Oct. 15 to file their 2020 tax return but does not grant an ... Honda Recalls Over 600,000 Vehicles For Fuel Pump Issues. Next vol/issue. Learning to navigate these complex ethical issues will be crucial for any business and business leader in 2020. The outcome is hard to predict, but what we can be certain of is uncertainty. Volume 29, Issue 3 June 2020. 1 School of Business and Law, University of ... money and products, and increases in the mobility of these factors of production have allowed for international business (IB) to prosper. Even though it sounds like there are endless of opportunities; international business has many challenges. In 2020 these are not wholly new, but existing issues continue to gather momentum, move from the edge to the mainstream or become the focus of policy and business attention. In April 2020, we published a set of nine scenarios as part of our economic model and surveyed thousands of global business executives about their economic outlook. From the need for just transitions to green jobs, to understanding gender fluidity in the workplace, 2020 promises to be a busy year for the human rights community. Making Connections: Social Networks in International Business. Chng Lay Chew FCPA is CFO of the Singapore Exchange, where he oversees the finance, treasury and investor relations functions. She received her bachelor’s degree in economics (honours) from Macquarie University, where she is completing her master of applied economics. December 27, 2020 5:00 AM PST. By CiteScore values are based on citation counts in a range of four years (e.g. But 2020 will mark the year that laws and trade deals are renegotiated to decide the future of the UK’s position in the world. CiteScore: 7.6 ℹ CiteScore: 2019: 7.6 CiteScore measures the average citations received per peer-reviewed document published in this title. Free Issue of Forbes. Tailored Artificial Intelligence Platforms. There will also be worries about increased economic protectionism among countries. This tussle is creating heightened global uncertainty, causing firms to delay hiring and scale back investment. According to the International Monetary Fund’s 2019 Global Risks Perception Survey, cyber attacks are the fifth most important global risk by likelihood over a 10-year horizon. Between public health, geopolitical, and economic crises, the productivity gap will continue to grow and affect workforce and business on a global scale further in the new year, International SOS found in the Risk Outlook. As economies slow around the world, the onus will be on CEOs, accountants and finance professionals to guide businesses of all sizes through stormy waters. While we hope that many of these papers will be eventually published in IBR , the purpose of this workshop is broader: to improve the quality of IB research and to bring new scholars into the IB field. You no longer need to travel for hours to get to a meeting: you can simply open your laptop. Professor Eamonn Walsh (pictured) at UCD Smurfit is slightly more optimistic. 19 Business Schools With The Highest MBA Salaries. 50th Anniversary Issue: Changing the World: How IB Research Makes a Difference Here are the top 10 regulatory issues identified by Paychex for 2021: #1 New COVID-19 Stimulus Navigating slower demand conditions with an outlook that is plagued with downside risk – this will be the key issue for business in 2020. Actions for selected articles. Many of the employees only spoke Portuguese, and could only view the company from a manufacturing perspective. GDPR changed the way businesses deal with data, which represented a big challenge for international firms, and individual states now have their own regulations such as the California Consumer Privacy Act. 100 years on, at the turn of the new decade, international business has definitely changed a bit. Latest. October 2020, issue 8; September 2020, issue 7; August 2020, issue 6; July 2020, issue 5. Here is our advice on how to tackle the 11 biggest challenges for international business: International company structure; Foreign laws and regulations; International accounting; Cost calculation and global pricing strategy; Universal payment methods; Currency rates; Choosing the right global shipment methods; Communication difficulties and cultural differences Mining company profits have been strong, and so have Australian Government tax receipts. Assistant Director and Economist, Moody's Analytics. We have detected that JavaScript is disabled on your browser. Susan Adoption of 5G. In Singapore, the government has reduced its 2019 forecast range for gross domestic product to 0 per cent to 1 per cent from its previous projection of 1.5 per cent to 2.5 per cent. He is also an advisory board member of the Singapore Management University’s School of Accountancy. Students Assignment Help professionals have prepared research titles for international businesses to help students in their research topic for free. ... Human Resource Issues in International Business 5:43 But it wasn’t easy. It required applying what she had learned about operations from her EMBA, the fact that their are global, cultural, and even professional differences that you need to consider in every company. International Business research topics list for MBA & management graduates given By SHA. The roaring twenties started with post-war economic prosperity and ended with the Wall Street crash. At best, it will be a slow grind towards improvement. Ell is regularly quoted by international media such as CNBC, Bloomberg, the Wall Street Journal and Financial Times. It has proven a good shock absorber in the past for improving export competitiveness and encouraging more domestic consumption, and it will continue as partial insulation through 2020. Katrina Ell is an assistant director and economist in the Sydney office of Moody’s Analytics. Each one either lin… Each month we select the must-reads from the current issue of INTHEBLACK. Anticipation is building for a boom in US hiring this year. Features of this site require JavaScript to function. As Australia sinks into a deep post-pandemic recession, a number of academics and tax system experts are demanding tax reform be put at the top of the government's agenda. International business is a complex operation—”you’re dealing with a lot of moving parts,” Nicola illustrates. However, Australia’s economy has still been slowing, due to domestic factors. “The notion of competition amongst nations is coming much more to the fore in the coming year,” Eamonn insists. Ice caps are melting, sea levels are rising, and the very survival of island nations is being threatened. “They can’t plan, they can’t implement, they can’t even innovate until they know what happens next with the market,” she explains. Three experts weigh in on what 2020 could look like amid the continuing US-China trade tension, market volatility and predictions of the global economy growing at its slowest pace since the GFC. (eds) International Business. Alongside her studies, Nicola is product development vice president at a software provider, based in Ireland but with employees and business in the US. He has more than 30 years’ experience in accounting, financial management and leadership in leading banks DBS and JP Morgan. Thanks to the Internet and the globalization all boundaries started to disappear in the trading and business world. Given the uncertain status in the UK and Europe, it would be a missed opportunity for businesses not to consider China as an option. The Academy of International Business Series. ... and brings together business leaders to talk about the burning issues facing buyers and sellers across the globe. Download full issue. Download full issue. “If your company is offshoring or outsourcing, there’s pressure on you to make sure you’re looking after everyone in your company, and not to point the finger at third parties.”. The first is the US-China trade war, which shows no sign of abating. “There’s a lot of pressure on businesses to be aware of your impact on the environment,” Nicola insists, “We all want it to still be here for our children and their children.”, This extends beyond just the environment, and towards general awareness of your business’ impact on society around the world. The Australian economy is on track to grow just 2 per cent in 2019, which is its slowest expansion in a decade. Going into 2020, we are likely to see cyberthreats continuing to evolve, with corporate budgets for cybersecurity increasing. The issues that have not been solved will be factors that ultimately shape the overall environment in 2021. Indeed, our entire ecosystem is at risk: 1 million animal and plant species may be extinct within years, the largest-scale ecological loss humans h… Next vol/issue. How can you explain this? The months prior to the US presidential election in November 2020 could bring more volatility to markets, as politicians ramp up campaign rhetoric. ★CURRENT GLOBAL ISSUES★ are among the most topical, debated, and important problems of today. These developments should help to underpin Australian businesses’ confidence, and their willingness to invest and hire. On the flip side, typhoons and torrential rains leading to flooding will remain an issue for disaster-prone Asia. What is it that makes the term sound so huge? The international business world seems to have reached the peak of unpredictability at the close of 2016, based on the number of CEOs with significant concerns regarding regulation, cyber security, geopolitical uncertainty and the need to adjust to a changing consumer base (among other issues as recorded in PwC’s annual CEO survey). Consumer-facing businesses like the retail trade and residential construction are expected to remain particular weak points, while the outlook for the mining sector has dimmed a little, with recent iron ore price falls, after very high prices previously. Each year we look to identify the emerging and fast-moving sustainability issues (here are 2019’s) we believe will shape sustainable business practice. This is part of what Eamonn refers to as “the great convergence”— where the US and Europe are no longer dominant, and the rest of the world is catching up in terms of prosperity. June 2020, issue 4; April 2020, issue 3; March 2020, issue 2; February 2020, issue 1; Volume 50 February - December 2019. The most optimistic economists are predicting that the government will report that as many as 1 million jobs were added in March - a blistering gain that would help recover a decent chunk of the … Trump’s second election, Brexit negotiations, and globalization—2020 is set to be an interesting year for international business, ©BrasilNut1—The UK's Brexit negotiations has caused great uncertainty in international business. Some cushioning will come from the weak Australian dollar. Maybe the interest may be interacting with different people, maybe its complications, it can be anything that interests you in international business. International Business Problem # 5. The International Monetary Fund has warned that trade-war risks are weighing on the global economy and has downgraded its 2019 and 2020 growth outlook twice this year. Financial experts weigh in on what needs to be done to pull the economy out of the recession, looking at the challenges and opportunities ahead. Running an international business in foreign countries means that you have to comply with all relevant domestic laws if your business is about to prosper. Please ensure JavaScript is enabled. Millar C.C.J.M., Grant R.M., Choi C.J. ... their views on the most important leadership priorities for their markets in 2020. A host of growing economic risks has been cited, including the US-China tariff and technology war, slowing growth in China, Hong Kong’s political situation, the Japan-Korea trade dispute, and Brexit. Muldowney. This is particularly important for Singapore, which thrives on the free flow of trade. Our latest survey finds greater optimism about the economy and corporate prospects than at any time since the crisis began—and on a few fronts, more than in the past several years (Exhibit 2). December 2019, issue 9. (2000) Introduction — Current Issues in International Business Research. Nicola Sullivan (pictured), Executive MBA student at UCD Michael Smurfit Graduate Business School, understands this all too well. Read the December 2019 issue of INTHEBLACK magazine. Chief economist, Australia, New Zealand and Global Commodities, HSBC. ... select article Mapping international business and international business policy research: Intellectual structure and research trends. However, we expect a further fall in local interest rates to offset this, and expect interest rates to remain low for a considerable period of time. This has a big impact on the way that businesses and their employees need to think. How An Online MBA Can Fast-Track Your Professional Development, 4 Ways Blockchain Is Revolutionizing FinTech, UCD Michael Smurfit Graduate Business School, 5 Biggest Trends Impacting International Business In 2020. This should support an upswing in the housing market and a pick-up in household spending. Top business issues for 2020 Katrina Ell. Palgrave Macmillan, London. The numbers are in: The past decade has been the warmest in recorded history. Paul Bloxham The Reserve Bank of Australia has stepped up support to shore up domestic demand, particularly among subdued consumers, who have been in a funk since the second half of 2018. DOI https://doi.org/10.1057/9780230596740_1 Previous vol/issue. But in 2020, many of us found ourselves hard … Trends in International Business 2020 Environmentally-Friendly Technologies. After three and a half years of Brexit negotiations, the UK has left the EU. HSBC’s economics team expects global growth in 2020 to run at its slowest pace since the global financial crisis, weakened by the US-China trade war. Read the latest articles of International Business Review at ScienceDirect.com, ... Issue 4 August 2020. 100 years on, at the turn of the new decade, international business has definitely changed a bit. From the perspective of corporate Singapore, the top business issues in 2020 fall into a … For 2020, we expect the weakening global backdrop to become more of a headwind for local growth. select article Editorial Board. While Brexit hasn’t had the negative impact on students that many thought it would, it spells uncertainty both for UK businesses as well as businesses that import or export into the UK. As Asia’s GDP is set to overtake that of the rest of the world combined, China continues to grow and develop, bringing the majority of its citizens with it. Select all / Deselect all. According to the prediction of the clothing retailer Next, the demand for cloth will be poor for the rest of the year. It’s official—2010-to-2019 was the hottest decade on record. From walking through the factory process, Nicola and her team went about identifying the problems. University College Dublin - Michael Smurfit Graduate Business School, Register today to download your report plus immediate access to all member only articles, resources and newsletters, Register for the latest business school guidance, alumni insights and application advice for MBA and Master's programs. From the perspective of corporate Singapore, the top business issues in 2020 fall into a few interconnected categories. It is projected by the mid-2020's that China will be the largest consumer economy and the United States will drop to second. Thankfully, the global slowdown has, so far, had only a limited impact on Australia. Apr 2, 2021. Growth in China is expected to slow from 6.2 per cent in 2019 to 5.8 per cent in 2020, the slowest pace of growth in 30 years. https://doi.org/10.1057/9780230596740_1. Running an international business in multiple jurisdictions is an exciting endeavor, however, there are a number of legal issues you should be aware of. Brexit uncertainty could also be an opportunity for UK businesses, and the country, to carve out a new path for itself. The UK’s post-Brexit negotiations, an escalating US-China trade disagreement—not to mention the effects and fallout of the Coronavirus pandemic—and an attempted … On the international consulting trip on her EMBA at Smurfit, Nicola saw the impact on a business when these moving parts don’t line up. "There are significant opportunities for talented non-EU nationals to work with global companies in Ireland, while EU nationals continue to be welcomed by global companies with significant Irish footprints.". “The way the world is shifting, a case could certainly be made for a country [like the UK] to strike out on its own and create a unique identity,” Eamonn suggests. The purpose of the 2021 IBR Young Scholars Workshop is to provide junior researchers with developmental feedback on their current research papers on international business studies. Further monetary stimulus is expected over the next six months, but the likelihood of a rebound in activity is remote. Here are some of the biggest trends that will affect international business in 2020: When November rolls around, America’s electorate will again be given the choice between President Trump and one of the many Democrat contenders who still have their hat in the ring. He is also a member of the Australian National University’s shadow Reserve Bank board, and is an adjunct professor at Curtin University. Fire will continue to be a significant threat in 2020, as will damaging heatwaves. Inequality, like climate change, is a word of the year in 2019. Muldowney, trade war between the world’s two largest economies, Why economic forecasting is a flawed science, 10 big economic ideas for the next 10 years, Make better business forecasts by changing how you think, 7 steps to mastering the business of superforecasting, 6 economists who predicted the global financial crisis, 6 factors that drive the Australian dollar, How one firm is accounting for the future, Green manufacturing to boost Australia's economy, The 4 pillars of a post-pandemic economic recovery. CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets. Policymakers have taken action: the Reserve Bank of Australia recently cut its cash rate to a new record low. Katrina Ell As superfast broadband and 5G are rolled out, the world in 2020 is more connected and global than ever. National Policy of Development: ADVERTISEMENTS: The country desirous of achieving self-sufficiency, follows a strategy of importing capital goods equipped with latest and sophisticated technology and restricting imports of less important consumer goods with a view to lowering down its import bill. Receive an update when the latest issues in this journal are published. The UK’s post-Brexit negotiations, an escalating US-China trade disagreement—not to mention the effects and fallout of the Coronavirus pandemic—and an attempted reelection for US president Donald Trump. In a normal year, the wickedest corporate scandals and worst executive malfeasance are impossible to forget.