International Finance - BYU

International Finance - BYU - International Finance:...

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International Finance: “Optimizing the Widow’s Mite” in the Flat World”
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“Global Finance” Success Criteria: Globalize Centralize Digitize Optimize
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#1 – GLOBALIZE “Globalization has fundamentally changed  manage.”  (Thomas Friedman)
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Illustrated by Princess Diana's death. An English princess with an Egyptian boyfriend crashes in a French tunnel,  driving a German car with a Dutch engine driven by a Belgian who was drunk  on Scottish whisky, followed closely by Italian Paparazzi on Japanese  motorcycles; treated by an American doctor, using Brazilian medicines. This is sent to you by an American using Bill Gates' technology, and you're  probably reading this on your computer, which uses Taiwanese chips and a  Korean monitor assembled by Bangladeshi workers in a Singapore plant,  transported by Indian lorry-drivers, hijacked by Indonesians, unloaded by  Sicilian longshoremen, and trucked to you by undocumented Mexican  immigrants. .... That, my friends, is Globalization. * Source unknown.  The definition was sent to Ray Anderson by Rick Jeppson, who received it from his son who was serving in Iraq. What is Globalization?*
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Thomas Friedman’s Definition “Globalization is the inexorable integration of markets, nation-states and technologies… in a way that is enabling individuals , corporations and nation-states to reach around the world farther, faster deeper, cheaper than ever before.” The Lexus and the Olive Tree, p. 9.
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LDS Treasury Definition* “Globalization is the implementation of uniform policies, processes, procedures and systems to achieve “world class” controls, customer service and operating efficiency in order to optimize the widow’s mite and safeguard shareholder assets.” *Definition was synthesized from input provided by members of the Deseret Treasury Managers Association (“DTMA”) in a meeting held on 4/21/06.
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My Favorite Definition: “Every valley shall be lifted up, every  mountain and hill shall be made low, the  crooked shall be made straight, and the  rough places shall be made plain [flat].”  Isaiah 40:4
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Three Fundamental Forces at Work Democratization of Technology (e.g. computerization, telecommunications, miniaturization,
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This note was uploaded on 04/22/2011 for the course BUS M 432 taught by Professor Nedhill during the Winter '11 term at BYU.

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International Finance - BYU - International Finance:...

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