Reflective Statement on Learning Outcomes on Currency Variations
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Reflective Statement on Learning Outcomes
Countries all over the world have different policies and laws due to the various governments and cultures. Such rules in turn influence the establishment of businesses in the various government settings globally. During the week, I have learned about how different policies affect businesses in comparing two countries and the difference in policies in the world. Taking into consideration the difference in the systems and basing on the fact of the possibility of such policies to impede trade among states, some countries are coming with common policies and are coming together as a block to boost business between them.
The session brought about the understanding of how currency variations may affect trade and the possible actions to take to counter such effects. It is difficult for a company to ignore the changes in policies, currency fluctuations and environmental impacts as in the end they will assume all the effects of such changes in their operations. Learning the different changes that occur at various places in the world and how such changes affects businesses would enable me to run a multinational company taking into consideration such factors. The knowledge I have achieved will as well help me pass the necessary skills to learners who in turn may end up working in international companies. Such knowledge will enable them actively take roles in the running of global firms and efficiently offer counsel whenever need be.
The challenges within the session were that not policies of every country or the trading blocs could be analyzed. Instead, selected states and voting blocs were analyzed to effect the understanding of students. I discovered that even the successful economies had stringent rules that scare away investors, some of which are designed for foreign investors who are not preferred. The knowledge I have gained from Ball et al. (2013) is just much that it advanced my understanding, and therefore I cannot ignore even a single factor affecting a business.