Research Laying the Foundations Bancolombia en Colombia

Khalid N Aldabal (600)
Phase 1: LAYING THE FOUNDATIONS Bancolombia in Colombia
Chapter 1: Globalizing Business
The Most Important Learning Objective Outlined in This Chapter
The most important learning objective outlined in this chapter is LO 3, articulating the fundamental question that the study of global business seeks to answer and two perspectives from which to answer this question.
I chose this LO because this is a main theme throughout, and to which other topics are linked in the chapters.
Further, this LO3 encompasses globalization by highlighting two perspectives; resource-based and institutional based views.
* Peng (2013), emphasized the importance of learning globalization in a business management course as it will address various issues that determine the success of a business unit in any part of the world.
Facets That Have Changed from the Time of Peng’s writing To Present
I believe the most crucial facets that have changed are the institutional framework of both the formal (formal rules of the game) and informal (informal rules of the game) institutions.
* According to Barth, Lin, Ma, Seade and Song (2013), an example of change would be moving away from regulation of business into supervision.
¯ Various countries have been engaging in policy discussions that majorly focus on establishing and maintaining proper supervision of the banking sectors.
¯ The removal of bank regulation created a more favorable environment for banks to invest in other countries since the rules of the game were now flexible.
* Another example would be the change in degree of disclosure requirements for banking sectors that have been reduced.
Significant Impacts of These Changes on Bancolombia in Colombia
According to Peng (2013), laws that govern practices of banks in foreign countries have changed from being too restrictive to lenient which has seen Bancombia expand its investments in Panama and Brazil.
As indicated above, another significant impact on my country is the integration of supervisory practices of banks and other financial institutions which has improved management of financial services and institutions.
* Another would be assigning bank supervision to the central bank.
¯ This has improved efficiency in supervising the operations of the bank and quick feedbacks from the central bank.
Finally, as indicated above, a significant impact on my country is the change in degree of disclosure requirements that will impact my country and this has boosted business integrity in terms of accountability and transparency within the country.
Chapter 2: Understanding Politics, Laws and Economics
The Most Important Learning Objective Outlined In This Chapter
The most important learning objective outlined in this chapter is LO6, the articulation of the importance of both property rights and intellectual property rights.
I chose this LO because I believe these two aspects are the crucial components of legal systems that constitute the institutional framework.
* They form the regulatory pillar that supports institutions, and
* Deemed important in stimulating economic growth in every country.
Facets That Have Changed since the Time of Peng&aci...