The Business Review

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The primary goal of the journal will be to provide opportunities for business related academicians and professionals from various business related fields in a global realm to publish their paper in one source. The Journal will bring together academicians and professionals from all areas related business fields and related fields to interact with members inside and outside their own particular disciplines. The journal will provide opportunities for publishing researcher's paper as well as providing opportunities to view other's work. All submissions are subject to a double blind peer review process. The Journal is a refereed academic journal which publishes the scientific research findings in its field with the ISSN 1540-7780 issued by the Library of Congress, Washington, DC. The journal will meet the quality and integrity requirements of applicable accreditation agencies (AACSB, regional) and journal evaluation organizations to insure our publications provide our authors publication venues that are recognized by their institutions for academic advancement and academically qualified statue. No Manuscript Will Be Accepted Without the Required Format. All manuscripts should be professionally proofread / edited before submission. After the manuscript is edited, you must send us the certificate. You can use www.editavenue.com for professional proofreading/editing or other professional editing service etc... The manuscript should be checked through plagiarism detection software (for example, iThenticate/Turnitin / Academic Paradigms, LLC-Check for Plagiarism / Grammarly Plagiarism Checker) and send the certificate with the complete report.

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Strategic Implications of Governmental Policy Initiatives on the Electrical Vehicle Industry in China

Dr. Kathryn J. Ready, Winona State University, Winona, MN

ABSTRACT

China leads in the world's electric vehicle (EV) market and is expected to continue its dominance in this industry in the foreseeable future. By the end of 2019, approximately half of the EVs and 99% of EV buses were in China (IEA, 2019), and the EV market is projected to continue to increase, growing five-fold from 2019 to 2026 (Wagner, 2020a). The growth of the EV industry has been supported by governmental strategies and global efforts to reduce global warming by mitigating carbon emissions through initiatives such as the Paris Climate Agreement. This environmental accord was supported by a multi-governmental Electric Vehicle Initiative in 2017, which promoted the adoption of EVs worldwide. This initiative united countries in working toward a goal of EVs representing 30% of vehicle sales by 2030 and supporting the related development of improving charging infrastructure (IEA, 2020). As one of the signatories to the EV Initiative, China's industrial policy and governmental initiatives promote technological innovation and clean energy, which are driving forces in the continued development of the EV industry. This paper examines China's governmental policy initiatives that have strategic implications for the continued growth and development of the EV industry in China. As countries worldwide are working to reduce environmental damage and global warming, industries that are harming the environment through carbon emissions have been targeted both within countries and through worldwide environmental accords, such as the Paris Climate Agreement. Emissions from the transportation sector are a significant contributor to the growing climate change problem; this sector is responsible for 14% of global emissions, and emissions are expected to increase (Wang, 2019). Due to the damage caused by fossil fuels and carbon dioxide emissions, countries are adopting strategies such as supporting low emission alternative energy options for transport vehicles and moving toward zero-emission vehicles.

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English Language Testing for International Students in Australia

Anurag Kanwar, Compliance and Continuous Improvement Director, Group Colleges Australia

Dr. Greg Whateley, Emeritus Professor, Executive Dean UBSS and Executive Director, Group Colleges Australia

ABSTRACT

International education is an important market for Australia. It is also highly regulated, in particular reference to the private providers in the country – less so the public universities. Yet, despite the regulations there is a gap in assisting institutions in relation to suitability of English preparedness for international students. Private providers are advised to look to universities for assistance in setting out entry requirements for their programs for example. This practice is fraught with problems given the fact that the universities themselves struggle with the issue. Universities in Australia have also been the subject of scandals in relation to entry requirements. This paper will consider the implications of this approach for the Australian higher education sector and hopefully explain the complexity of the issue. The lack of transparency and guideline in this space is concerning and needs attention. There remains no other sector in Australia, where private providers are encouraged to model large publicly funded institutions as best practice. The international student market in Australia is worth some $39.6 billion in revenue. Globally, Australia is the third most popular education destination in the world (1). Education remains the country’s fourth largest export industry (2) with some 8% share of the global market. While, the industry has taken a battering due to COVID-19 it is still an important source of revenue for Australia (3). International education in Australia supports conservatively more than 250,000 jobs across the Sector. It is the largest services export contributing to some $14.617 billion to the New South Wales economy alone in 2019-2020 (4). Considerable effort and energy has been put into developing this all important sector over many years. Australia remains unique in this regard. This effort to build the sector has been done via a whole of Government approach with the cooperation of all States, Territories and Federal Government agencies. The Australian International Education Unit that is part of the Department of Education Skills and Employment has largely spearheaded this push. The current COVID-19 pandemic has placed enormous stress on market and those delivering the products as evidenced in significant staffing cut and resourcing.

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The Impact of Ambiguous Letter of Credit and Uniform Customs and Practice on International Trade

Dr. Sut Sakchutchawarn, School of Business & Economics, SUNY, Plattsburgh, NY

ABSTRACT

The discrepant documents of international trade transactions have been a major worldwide issue for many years. These have been significant problems for exporters and importers when banks discover discrepancies on export-import trade documents prior to making payments resulting in unnecessary delays, refused payments, and financial loss. This paper demonstrates the problems of discrepant trade documents caused by excessive terms and conditions of letter of credit and the ambiguous language of Uniform Customs and Practice 600. This paper recommends exporters advise importers not to include excessive terms and conditions in the letter of credit. This paper also recommends changing legal language of the Uniform Custom and Practice 600 into a clearer language. The guidelines with practical examples and templates for each article must be provided to institutions involved in this process in order to keep the discrepancies free. International trade creates new markets and opens countries to goods and services unavailable in their domestic economies. Exporting and importing are elements of international trade which is beneficial to all parties. As exporting and importing business continue to grow as a part of production of the world, more attention and emphasis have been placed on understanding the key aspects of international trade transaction (Sakchutchawarn and Fisher, 2016). International trade is obviously a significant factor to develop national economic growth since not all countries have the resources and skills required to produce certain goods and services. The growth of international trade can offer new opportunities for importers and exporters. It is impossible for a country to produce domestically everything for its citizens need or demand. Without foreign trade, national resources are not put to their best use. More exporters are looking for foreign markets to sell their products.

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Sources of Motivation For Rectors and Vice-Rectors

Seyhan Karasu Oznurlular, Istanbul Okan University, Turkey

Dr. Ali Ilker Gumuseli, Professor, Dean, Istanbul Okan University, Turkey

ABSTRACT

By using the qualitative data collected from seventeen rectors and vice-rectors currently acting as academic administrators in state and foundation universities. This research aims at examining possible practices and developments in human resources and management processes towards the enhancement of their motivation. In the review of the field literature, the sources of motivation for the rectors and the vice-rectors, as managers and academic administrators, were identified as a universal issue. In analyzing the data collected in the study, three motivational factors were identified as needed and outstanding for the rector and vice-rector positions in Turkish universities: psychological, managerial, and financial. The results of this research are anticipated to shed light on prospective human resources practices for enhancing the sources of motivation for the rectors and vice-rectors as the top academic administrators and on the developments in the management processes in higher education. As in any sector, in the higher education sector, too, the process of modernization and the importance of financial power have become strongly evident. This has given rise to a new approach in the management practices of universities as well as in the universities themselves. Opening the doors of the university to a professional management mindset instead of designating managerial positions to faculty members is an issue in discussion in the twenty-first century. Following these developments in the higher education system, extensive discussions are made on the issue of how the top management of the system should be organized. Playing a more effective role in shaping the objective and the modus operandi of higher education in this new process, public authorities have begun to get more involved in the higher education system and to closely supervise the system to build a transparent and accountable structure, meet the economic and social needs of the society, and establish a more competitive economy (1). In a way, this points at managing universities with a business logic independent from their nature as educational institutions that provide information flow.

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Persuasiveness of Fit Between Imaginary Perspective and Advertising Appeal: Application of Affordance Cues

Dr. Chung-Lin Toung, Nanfang College of Sun Yat-sen University, Guangdong Province, PRC

ABSTRACT

We hypothesize that without any guiding text, the presence or absence of affordance cues in an advertisement would prime individuals to automatically adopt a specific imaginary perspective and prefer a certain type of advertising appeal. To validate the hypothesis, 98 college students were recruited and participated in an experiment using ocean-side resort advertisements as the environmental stimulus. The results show that with the presence of affordance cues in the advertisement, the subjects were primed to imagine from the observer’s perspective and preferred symbolic benefit appeal; in the absence of affordance cues in the advertisement, the subjects were primed to imagine from the actor’s perspective and preferred experiential benefit appeal. To verify that persuasiveness is mediated through embodied simulation, imaginary ability, advertisement favorability, and text-picture consistency were used as control variables to exclude possible mediating variables; therefore, the results of the study were not confounded with other potential explanatory variables. When extracting memory from past events or projecting onto future events, an individual can assume one of two perspectives: the actor’s perspective or the observer’s perspective. The former refers to individuals seeing imaginary scenes directly in front of them and being involved in the scenes when they are imagining, while the latter refers to them viewing their actions in scenes as outsiders (Libby & Eibach, 2011a, 2011b). These two different imaginary perspectives lead to different types of mental information, which in turn affects an individual’s interpretation of an imaginary event or action. When adopting an observer’s perspective, individuals emphasize the meaning of individuality that is attributed to the imaginary event or behavior and the personality that is exhibited in the imaginary scene and attach importance to whether the imaginary event or behavior allows self-enhancement; in contrast, when adopting an actor’s perspective, individuals emphasize the meaning of the scene in the imaginary event or behavior and the sensory perception aroused by the scene.

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