Abstracts » Business

Banking on reform

Article Abstract:

The Greek banking sector suffers from over-regulation, over-segmentation and too much government control. A reform program has already been launched, but it has not been very successful. Government intervention has continued while state banks have been burdened with non-financial companies. Many also complain about the slow pace of the reform process. The good news is that the reform process is gradually gaining momentum. Two banks are scheduled to be privatized and the country's fourth largest bank is to be integrated or divided. Other issues are also being addressed, including the imposition of capital adequacy requirements, the improvement of the banking infrastructure and preparations for the introduction of the single European currency. Transition to the euro is not expected to be too difficult for Greece since the drachma is not used internationally, the Greeks are used to working in two currencies, and many of the necessary adjustments have already been made.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Banking industry, Industry Overview, Greece, Banks (Finance), Banking law

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Eastern promise

Article Abstract:

Japan has taught valuable business lessons to the West. In the UK, for instance, the Japanese concepts of 'total quality management,' 'just-in-time,' 'kaizen,' and 'kanban' have become highly familiar in management circles. These lessons have trickled down to British workers as evidenced by the results of a recent London School of Economic study revealing that British employees working in Japanese companies make fewer mistakes than their compatriots employed by UK-owned firms. Japan's contributions to the manufacturing industry are focused on two areas: quality and distribution and logistics. Japanese firms have learned early that quality is their only competitive advantage in overcrowded markets. In distribution and logistics, the Japanese are intolerant of lateness and originated the concept of 'shitauke ijime' or subcontractor bullying.

Production Management, United Kingdom, Japan, Manufacturing processes, Manufacturing

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An economic Eden?

Article Abstract:

The positive and negative aspects of globalization are discussed. The need to ensure that globalization does not lead to increased social exclusion is highlighted.

Social aspects, International economic relations

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