Summarize of achieving complementarity and synergy

From the text, we learned that culture otherness still exists even along with the processes of harmonization and standardization in society, culture and business. The decades of discussion about the convergence and divergence of values and practices indicate that otherness can be neither denied nor suppressed. Despite intercultural work settings are often conflictual or at least involve frictional loss and what more is interculturality can lead to targets and budgets not being met due to misunderstandings, intercultural management research and practice can explain misunderstanding and provide insights into how they may be reduced or even avoided. There are several approaches used. One of them focuses on the analysis of differences and difficulties. Another one is focus on the competencies of the interculturally competent individual. There exists a further approach which views interculturality in a positive and productive light as a resource.

By analysis the differences of cultural and combine these differences which is called cultural complementarity will create benefits and enhance performance. According to Crouch, there are three approaches to the subject in the literature.

• Complementarity is based on contrasts, differences and contradictions. By combining different individual elements and components it compensates for systemic deficits. This means that the individual elements need each in order for themselves and the system to survive.
• Complementarity is based on commonalities and similarities. Systemic elements influence each other and reinforce certain effects.
• Complementarity is understood, from an economic point of view, as the complementation of elements as resources, such as factors of production.

In order to achieve cultural complementarity in management interaction both at the organizational and also at the individual levels of the kind described above, three fundamental conditions need to be fulfilled for these competencies to be able to bring about the desired cultural complementarity.

• The individuals involved must possess a value-free openness to enable them ethno-relatively to recognize and value the characteristics and properties of other groups. They must move from rejecting or merely tolerating cultural otherness towards accepting and valuing it. There would be no polarities such as either/or or right/wrong but continual of both/and.
• The characteristics valued as qualities and strengths are consciously employed as resources.
• The characteristics are combined to correspond best to the situation to be managed in the given context.

Intercultural synergy in the context of international management can be understood as the outputs which arise from the combination and interaction of individuals from different cultures and which are of higher quality than the sum of the individual actions, it is called intercultural strength of synergy. High synergy societies are succeed in living together peacefully and harmoniously and in developing together (Benedict). As Maslow puts it: “High synergy from this point of view can represent a transcending of the dichotomizing, a fusion of the opposites into a single concept.
In order to achieve cultural complementarity and intercultural synergy in work settings, it seems to be of fundamental importance that certain framework conditions are present and also that certain process are applied. In particular, bicultural play a special role. Because some individuals often internalize more than one linguistic and cultural reference system due to mobility and immigration.

In addition to framework conditions, processes and immanent models are necessary to achieve cultural complementarity and intercultural synergy. These are constructed consciously or unconsciously as a result of the communicative actions of interactants from different cultural settings. A process orientation, which regards interculturality above all as a process of exchange and development, and not as a mere confrontation of culture-specific properties, is one wat to achieve intercultural synergy. Adler (1980) suggests various steps to facilitate he creation of intercultural synergy: (1) Situation Description, (2) Cultural Interpretation, (3) Cultural Creativity and (4) Cultural Synergy. There is another similar process is described and further developed by Hampden-Turner (1990) in his dilemma theory. A dilemma is a situation in which an interactant must choose among several options, each with various advantages and disadvantages, in other to achieve his/her goal.

The process of reconciliation according to Hampden-Turner (2000) consists of the following steps: (1) Recognize cultural differences by describing the situation and the problem, (2) Respect cultural differences by identifying and analyzing dilemmas, (3) Reconcile cultural differences by resolving intercultural dilemmas finally (40) Realize and root in order to install best practices and possible synergistic action.

Maznewski und DiStefano (2000) came up with MBI process model (M – mapping commonalities and differences, B – bridging differences and then I – integrating them ) in order to shape intercultural team processes. The MBI model can help to identify diversity and manage it in a respectful way.

The Renault-Nissan alliance did succeed in the intercultural management. Carlos Ghosn, CEO of Renault-Nissan, underlines his view: “Synergy is not only what exists in one company or the other. It is not just about transferring best practices. It’s also about creating together something that neither one could have done alone.

Chapter Outline of Financial Statements Analysis

Financial Statements Analysis

Ratio Analysis

The Du Pont Identity

Free Cash Flow

Current Ratio = CA / CL

QUICK Ratio = (CA – Inventory) / CL

Cash Ratio = Cash / CL

The Analytical Hierarchical Process (AHP)

PPT Resource

FV (Future Value) = C0 X (1 + r)

PV(Present Value ) = C1 / (1 + r)

C1 is cash flow at date 1.

Net Present Value

The Net Present Value(NPV) of an investment is the present value of the expected caash flows, less the cost of the investment.

NPV = -Cost + PV
$$ PV = \frac{C_T}{(1 + r)^T} $$

  • PV
  • FV
  • T
  • R

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Accounting Key Terms

Average cost平均成本6
Conservatism constraint稳健性约束:应采用最悲观的那种估算方法6
Consigneen. 收件人;受托者;承销人6
Consignorn. 发货人;货主;委托者6
Consistency concept一贯性原则6
Interim statements[会计] 期中报表6
Lower of cost or market(LCM)成本与市价孰低法6
Net realizable value净变现价值6
Specific identification特异性识别
Wrighted average [数]加权平均数6
Accounting periods会计期3
Accrual basis accounting[会计] 权责发生制会计;应收应付会计制;以应收应付制为基础的核算3
Accrued expenses[会计] 应计费用3
Accrued revenues应收收益3
Adjusted trial balance[会计] 调整后试算表3
Adjusting entry会计主体3
Annual financial statements年度会计报表3
Book value[会计] 帐面价值3
Cash basis accounting收付实现制会计;现金制会计3
Contra account抵销帐户;轧帐方式3
Depreciationn. 折旧;贬值3
Expense recognition(pr matching) principle费用确认原则3
Fiscal year会计年度;(美)财政年度3
Interim financial statements期中财务报表3
Natural business year自然商业年度3
Plant assets固定资产;厂房设备资产3
Prepaid expenses待摊费用;预付费用;预付开支3
Straight-line depreciation method直线折旧法3
Time-period assumption会计分期假设3
Unadjusted trial balance[会计] 调整前试算表3
Unearned revenue未获收入;预收收入;份外收入3
Accounts receivable应收帐款9
Aging of accounts receivable应收账款账龄分析9
Allowance for Doubtful Accounts坏帐准备
Allowance method备抵法;津贴法9
Bad debts坏帐;收不回的债;死账9
Direct write-off method[会计] 直接冲销法;[会计] 直接注销法9
Maker of the note出票人(票据签发法人)9
Matching(expence recongnition)principle[会计] 配合原则;收支对应原则9
Materiality constraint实质性约束9
Maturity date of a note票据到期日9
Payee of the note支票收款人名称9
Principal of a note票据的本金9
Promissory note(or note)[金融] 本票;期票9
Realizable value可变现的价值9
Accelerated depreciation method快速折旧法10
Amortizationn. [会计] 分期偿还10
Asset book value资产账面价值 10
Bettermentsn. [会计] 修缮经费10
Capital expenditures资本支出;资本性支出(在固定资产的购置、增加、改良或寿命的延长方面的支出);基本建设支出10
Change in an accounting estimate会计估计变更10
Declining-balance method[会计] 余额递减法
Depletionn. 消耗;损耗;放血10
Depreciationn. 折旧;贬值10
Extraordinary repairs特别修缮费
Goodwilln. [贸易] 商誉;友好;好意10
Impairmentn. 损伤,损害10
Inadequacyn. 不适当,不充分;不完全;不十分10
Indefinite life无限生命力
Intangible assets[经] 无形资产10