Leonardo da Vinci Project promoted by the European Union Handelsstrategien an bedeutenden europäischen Finanzmärkten Completed by students of Bethmannschule Frankfurt am Main at the European College of Business and Management in London 24 January 2009 to 14 February 2009 Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Participants Diplom-Handelslehrer Udo Stein Studiendirektor Bethmannschule Frankfurt am Main Ann Marie Schmitz-Manseck Studienrätin zur Anstellung Bethmannschule Frankfurt am Main Forty-one apprentices for the Higher Diploma in Investment Fund Administration: Al Saroori Alexander DWS Holding & Service GmbH Albanese Gennaro Baron Tobias Bein Andreas Bouy Ali DEKA Bank AG Brüntrup Rene DEKA Bank AG Dalchow Florian Universal-Investment Ewald Marcel Allianz Global Investors KAG Hett Natalie Metzler Investment GmbH Hetzler Johanna Hölper Fabienne DEKA Bank AG Höntschke Charlotte IVG Immobilien AG Kegler Francesca Keiter Jan, Frederik Korngiebel Marco Kuhl Markus Kuhlen Nicole Laucht Andreas Union Asset Management Holding AG Loewe Maurice Union Asset Management Holding AG Müller Clarissa Allianz Global Investors KAG Union Asset Management Holding AG Helaba Invest HSBC Trinkaus&Burkhardt DWS Holding & Service GmbH Union Asset Management Holding AG sjb Fonds Skyline OHG 1989 Generali Investmnents Metzler Investment GmbH DEKA Bank AG European College of Business and Management January 24, 2009 – February 14,2009 Leonardo da Vinci Project Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Mund Martin Helaba Invest Neifer Thomas IVG Immobilien AG Neumann Michael HSBC Trinkaus&Burkhardt Nowitzki Julia Potthast Christopher Quitschalle Toni Regalbuto Maurizio Schick Alexandra Silva Carneiro Rafael State Street Bank GmbH Sterle Julia State Street Bank GmbH Stolzenbach Julian DWS Holding & Service GmbH Strobel Volker DWS Holding & Service GmbH Suwald Natascha Union Asset Management Holding AG Tomic Jelena Union Asset Management Holding AG Walinowski Marcus Weyer Björn DEKA Bank AG Wiesmann Benedikt DEKA Bank AG Witzmann Sebastian Wollersheim Thomas Wurm Alexandra Zimmermann Philip Universal-Investment DEKA Bank AG Allianz Global Investors KAG HSBC Trinkaus&Burkhardt Union Asset Management Holding AG European College of Business and Management January 24, 2009 – February 14,2009 DWS Holding & Service GmbH State Street Bank GmbH Sauren Fonds Service AG DEKA Bank AG State Street Bank GmbH Leonardo da Vinci Project Handelsstrategien an bedeutenden europäischen Finanzmärkten Compilation and Layout Text Contributions European College of Business and Management January 24, 2009 – February 14,2009 Bethmannschule Frankfurt am Main Udo Stein from all participants Leonardo da Vinci Project Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Table of Contents: Page 1. Introduction................................................. ........................................... 1 2. Timetable at the College............................. ........................................... 3 3. Student’ Reports and Summaries 3.1. Journey to London and the First Day.......... ......................................... 09 3.2. Summaries of Lessons 3.2.1. Welcome and Introduction to the Programme........................................... ......................................... 10 3.2.2. Mini Presentations ...................................... ......................................... 10 3.2.3. Preparation Pack ........................................ ......................................... 11 3.2.4. Language Support and Discussion............. ......................................... 12 3.2.5. Project Planning and Presentation Skills .... ......................................... 13 3.2.6 Location for Business ................................. ......................................... 14 3.2.7. London as a Location for Business............. ......................................... 15 3.2.8. Globalisation............................................... ......................................... 16 3.2.9. The impact of the Euro on Great Britain ..... ......................................... 17 3.2.10 Introduction to British Law .......................... ......................................... 18 3.2.11. Language Support/Discussion.................... ......................................... 19 3.2.12. The City of London and its Financial Institutions .................................. 20 3.2.13 Excursion: The City of London and Bank of England Museum .......................... ......................................... 21 3.2.14 Business Role Plays / Discussion............... ......................................... 22 3.2.15 Introduction to the London Metal Exchange ......................................... 22 European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Table of Contents: Page 3.2.16. Introduction and Excursion: The Docklands ......................................... 23 3.2.17 International Marketing and Advertising ..... ......................................... 25 3.2.18 International Marketing and Advertising (Part 2)................................... 26 3.2.19. ECBM Products and Services .................... ......................................... 27 3.2.20 Excursion: The Law Courts......................... ......................................... 29 3.2.21 Modern British Politics ................................ ......................................... 30 3.2.22. Modern British Economy ............................ ......................................... 31 3.2.23 Communications at Work ........................... ......................................... 31 3.2.24. The Intercultural Business Environment ..... ......................................... 32 3.2.25 Examination................................................ ......................................... 34 3.2.26 Oral Presentations...................................... ......................................... 35 3.2.27. Feedback and Evaluation ........................... ......................................... 35 3.2.28 Farewell ...................................................... ......................................... 36 3.2.29. The Last Day and Departure ...................... ......................................... 37 3.2.30 Spare Time Activities.................................. ......................................... 37 3.2.31 Weekend Activities ..................................... ......................................... 38 3.2.32 Experiencing Pupblic Transport in London . ......................................... 39 3.2.33 Living Three Weeks in a London Youth Hostel..................................... 40 4. Project Topics............................................. ......................................... 41 5. Final Comment ........................................... ......................................... 43 European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Handelsstrategien an bedeutenden europäischen Finanzmärkten 1. Bethmannschule Frankfurt am Main Introduction by Udo Stein Having been to London now with several groups of students the question comes up whether it is still worth taking all the efforts of preparing such a stay, doing all the paperwork the EU requires within the framework of the „Leonarda da Vinci“ programme to get EU Funding, going back to a city you have visited for several times. After all the answer is simply yes. It is quite a difference learning English in the classroom two lessons per week in contrast to staying three weeks in the country. Our students have the chance to practise their English every day in a working environment and in a private environment 24 hours a day. Everything they come about is in English which improves for those who make use of the chances offered their ability to express themselves in the English language. Besides the professional input offered by the European College of Business and Management they get a lot alongside: Experiencing life in a metropolis, getting in contact with a large number of different cultures, increasing understanding for the British way of looking at and solving Lancaster Hall Hotel problems. They also have the chance to explore London in a different way than „normal“ tourists, as the excursions organized by the European College of Business and Management offer valuable hints. As accommodation we still make use of the Lancaster Hall Hotel Youth Annex. As our students have to stay three weeks in London to get EU Funding (and their certificates) accommodation must still be affordable. The rooms offer good value fort he money the students have to pay. Being situated near Hyde Park and very close to Oxford Street it is a perfect location to get to the college and to the most important sights in London. Lancaster Hall Hotel Youth Annex European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -1- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main The following pages will show the timetabel in the college. Computer access means time for the students to work on their poject topic which they had to present orally in London and to hand in in writing after returning from their stay in London. The main part of this report will be the summaries taken by the students corncerning their lessons at the college and the excursions organzied by the college. At the end there will be some thoughts on sparetime and weekend activities, public transport and the life in a youth hostel. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -2- Handelsstrategien an bedeutenden europäischen Finanzmärkten 2. Bethmannschule Frankfurt am Main Timetable at the College Frankfurt FR1-01-09 Group 1 th 25 January – 14th February 2009 WEEK 1 9.30 – 11.00 Monday 26 Tuesday 27 Welcome and Introduction to the Programme Language Suppport/ Discussion SI 11.1512.45 13.3015.00 Mini Presentations 15.1516.45 EC Morning Break Project London as a Planning and Location for Presentation Business Skills KH Preparation Pack Project Tutorials Project Work/ Computer Access Locations for Business KH SI SI Wednesday 28 KH/SI Project Tutorials EC Lunch Break Globalisation Thursday 29 Friday 30 The Impact of the Euro on Great Britain The City of London and its Financial Institutions AC GHB Language Suppport/ Discussion Excursion: The City of London and Bank of England Museum AC GHB Introduction to English Law Excursion: The City of London and Bank of England Museum EC AC Afternoon Break Project Work/ Project Work/ Computer Computer Access Access GHB Project Work/ Computer Access KH/SI European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -3- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main WEEK 2 Frankfurt Group 1 9.30 – 11.00 Monday 02 Tuesday 03 Introduction and Excursion: Docklands Business Role Plays/Discuss ion Wednesday 04 Excursion: The Law Courts Thursday 05 Friday 06 International Marketing and Advertising Modern British Politics RS AKG AC GHB EC 11.1512.45 Excursion: Docklands Morning Break Introduction Excursion: International to the London The Law Marketing Metal Courts and Advertising Exchange Modern British Economy GHB EC 13.3015.00 Excursion: Docklands AKG AC ECBM Products and Services Project Work/ Computer Access AKG Afternoon Break Project Work/ Project Work/ Project Work/ Computer Computer Computer Access Access Access Project Work/ Computer Access Excursion: The London Metal Exchange RS Lunch Break Project Work/ Computer Access GHB EC 15.1516.45 Project Work/ Computer Access European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -4- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main WEEK 3 Frankfurt Group 1 Monday 09 9.30 – 11.00 Communications at Work AC 11.1512.45 Communications at Work Tuesday 10 Project Work/ Computer Access Project Work/ Computer Access The Intercultural Business Environment AU Lunch Break Project Work/ Computer Access GHB 15.1516.45 Project Work/ Computer Access Thursday 12 Friday 13 Oral Presentations Feedback and Evaluation SI/LW AU Morning Break Project Work/ Examination Oral Computer Presentations Access AC 13.3015.00 Wednesday 11 Examination SI Farewell SI/LW SI Oral Presentations Project Work/ Computer Access SI/LW Afternoon Break Project Work/ Project Work/ The Intercultural Computer Computer Business Access Access Environment Project Work/ Computer Access GHB European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -5- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Frankfurt FR1-01-09 Group 2 25th January – 14th February 2009 WEEK 1 Frankfurt Group 2 9.30 – 11.00 Monday 26 Tuesday 27 Welcome and Introduction to the Programme Language Suppport/ Discussion AC 11.1512.45 13.3015.00 Mini Presentations 15.1516.45 KH Morning Break Project London as a Planning and Location for Presentation Business Skills AKG Preparation Pack Project Tutorials Project Work/ Computer Access Locations for Business AKG AC AC Wednesday 28 KH Lunch Break Globalisation AKG/SM KH Afternoon Break Project Project Work/ Tutorials Computer Access Thursday 29 Friday 30 The Impact of the Euro on Great Britain The City of London and its Financial Institutions RS AC Language Suppport/ Discussion Excursion: The City of London and Bank of England Museum RS AC Introduction to English Law Excursion: The City of London and Bank of England Museum RS AC Project Work/ Computer Access Project Work/ Computer Access AKG/SM European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -6- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main WEEK 2 Frankfurt Group 2 9.30 – 11.00 Monday 02 Tuesday 03 Thursday 05 Friday 06 Introduction and Excursion: Docklands Wednesday 04 International Marketing and Advertising Project Work/ Computer Access Excursion: The Law Courts Modern British Politics AC AKG RS GHB Morning Break 11.1512.45 Business Role Plays/Discuss ion Excursion: Docklands International Marketing and Advertising Excursion: The Law Courts Modern British Economy AKG RS GHB Project Work/ Computer Access Project Work/ Computer Access Project Work/ Computer Access Project Work/ Computer Access AC EC Lunch Break 13.3015.00 Introduction to the London Metal Exchange Excursion: Docklands ECBM Products and Services AC EC AKG Afternoon Break 15.1516.45 Introduction to the London Metal Exchange Project Work/ Computer Access Project Work/ Computer Access EC European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -7- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main WEEK 3 Frankfurt Group 2 9.30 – 11.00 Monday 09 Tuesday 10 Project Work/ Computer Access The Intercultural Business Environment Wednesday 11 Examination Thursday 12 Friday 13 Oral Presentations Feedback and Evaluation AU SI GHB AKG/SM Morning Break 11.1512.45 Project Work/ Computer Access The Intercultural Business Environment Examination Oral Presentations Farewell AU SI AKG/SM GHB Lunch Break 13.30- Communicatio 15.00 ns at Work Project Work/ Computer Access Project Work/ Computer Access Oral Presentations Project Work/ Computer Access AC AKG/SM Afternoon Break 15.15- Communicatio 16.45 ns at Work Project Work/ Computer Access Project Work/ Computer Access Project Work/ Computer Access Project Work/ Computer Access AC European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -8- Handelsstrategien an bedeutenden europäischen Finanzmärkten 3. Bethmannschule Frankfurt am Main Students’ Reports and Summaries One of the students’ tasks during the stay in London was that each of them had to write a report on a special topic or a summary of one of the lessons the group attended. These reports and summaries differ according to the different abilities of this mixed group concerning understanding and the ability to express themselves in English. Only severe mistakes leading to misunderstanding were corrected. 3.1. Journey to London and the First Day Saturday, 24 January 2009 by Alexander Al Saroori Our first meeting place on our trip to London was Terminal 2 at Frankfurt Airport. At 9.55 am more or less all students arrived there and Mr. Stein took notice whether all students had come. Only some students came a bit later because a found suit case at the entrance of terminal 2 caused a bomb alert. After checked in and boarded we flew directly with British Airways to the capital of England, London. The flight was very comfortable and we enjoined the beautiful weather over the clouds. After some snacks on board, we all were able to see the first impressing sights like the London Eye or the Big Ben and the tremendous size of the capital. We landed in London Heathrow without any complications 15 minutes too early but this time we had to wait on the ground in the plain. After receiving our luggage, we bought our underground tickets (the oyster card) to get around in zones 1 and 2 of London for a week and another ticket to come inside this zone. Before Mr. Stein leaded us to Paddington Station, he gave us a short introduction into the underground system. We very fast recognized that the “Tubes” in England are smaller and Source & Photo Credit: Boeing tighter than the German ones. Up from Paddington the "Lancaster Hotel" was only a few minutes away. As we arrived at the hotel we checked in, got our keys and moved into our rooms. After hearing a lot of stories about youth hostels in England, we were positively surprised about our rooms. They were tidy and comfortable. Afterwards we used our free time to get first impressions of our new surroundings for the next 3 weeks and went on a little sightseeing tour .We saw Hyde Park in his tremendous dimensions, a lot of eating stores and pubs. Later we ate and bought something to eat for the next day. We finished our first evening by going into a traditional British pub and after that we felt asleep very exhausted. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -9- Handelsstrategien an bedeutenden europäischen Finanzmärkten 3.2. Summaries of the Lessons 3.2.1. Welcome and Introduction to the Programme Monday, 26. January 2009 by Genaro Albanese Bethmannschule Frankfurt am Main Our first day at the European College of Business and Management started with a welcome and an introduction to the programme. Sarah Iles, one of our teachers, talk with us about our time table and showed us all the floors of the college. After this she showed us a presentation about the collage and which certificates we can receive. We can receive three certificates. 1. The ECBM Certificate of Attendance 2. The German-British Chamber Certificate 3. The BTEC Professional Development Certificate (PDC) The ECBM Certificate of Attendance is a certificate which everybody gets. It certify that we stay for this time at the European College of Business and Management and that we attended the course. The German-British Chamber Certificate is a certificate from the German-British Chamber of Industry & Commerce. We receive this, if we pass two of the three exams. The BTEC Professional Development Certificate (PDC) certifiy that you are able to work in an english-speaking-company. We receive this, if we pass all three exams. We talked about our exams, too. First we have a three-hour examination with four questions and minimum 200 words for each answer. The second exam is an 10 to 15 minutes oral presentation. The topic we got in Germany before we started to London. The third is a summary about the topic of our presentation. This summary will be finished three weeks after the return to Germany and has up to 1.000 words. After this we started with our Mini-Presentations. 3.2.2. Mini Presentations Monday, 26. January 2009 by Tobias Baron After the welcome and the introduction to the programme on Monday everybody presented his company to the other participants in his course. In the first lesson the whole group was split into two courses. That’s why the following minutes just deal with group number one. Firstly Universal was presented by Florian and after his presentation he answered some questions from Sarah about his company and his opportunities in the future. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -10- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main The next presentation was given by Jan about the sjb Fonds Skyline and he also answered some questions. The third presentation about Union Investment was given by Andreas, Maurice, Gennaro and Francesca who were asked about the current financial situation. Alexandra and Johanna introduced DWS where they run their apprenticeship and answered questions about the impact of the financial crisis on the company. Allianz was presented by Clarissa and Marcel with a Powerpoint presentation. The next presentation was given by Nicole, Fabienne, Ali and René about Deka. They answered questions about their future in the company. Helaba Invest was the next company which was presented by Tobias, he was asked by Sarah about the marketing strategy of the company. Charlotte presented her company, IVG, which is the only represented company dealing exlusively with properties. Generali was presented by Marco who answered Sarah’s questions whether he likes working as an investment fund specialist. The presentation about Metzler was given by Natalie and Markus who were asked by Sarah about the tradition of Metzler. At least we listened to Andreas who presented HSBC. All in all the audience had the possibilty to get to know about the key facts of the represented companies. Nearly all of them except HSBC and IVG are headquartered in Frankfurt. IVG is located in Bonn and HSBC is located in Düsseldorf. Every presentation was given with good use of free speech. 3.2.3. Preparation Pack Monday, 26. January 2009 by Andreas Bein In the second lesson our tutor Sarah Iles started with the topic of the “Preparation Pack”. Before we started our trip to London we got some information about this great city. This information was refreshed in this lesson. Sarah began the lesson with a brainstorming session about London. We divided our knowledge about London into three groups: Social aspects, Political aspects and Economic aspects. We talked about the multicultural population of 7.5 million which entails a fullness of religion, cuisine and culture. A lot of the citizens work in the City of London, which is also known as the financial centre of London. In the City of London you can find European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -11- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main some of the most important institutions and companies of the world, for example the Bank of England, the London Stock Exchange, the London Metal Exchange and the headquarters of some of the world’s biggest Banks. The Mayor of London is Boris Johnson. He leads the G.L.A. (=Greater London Authority) which is responsible for the safety service, the development of the city and the infrastructure. We recognised that London is a real “World City”. So our next task was to define a World City. We defined it as a tolerant, multicultural city with a high influence on what happens in the world –which enables a high international accessability- with a high dynamic economical and lifestyle development. The Gherkin All this is represented in London with all its known Underground, five airports, its history and its role in history and the present, the different religions and cuisines from all over the world, its role in lifestyle or music, in the financial sector and its harbour. We are excited to see as much as we can of this World City London! 3.2.4. Language Support and Discussion Tuesday, 27 January 2009 by Ali Buoy At the 27th January we read three poems which were given by Mr. Ron Stradling and try to explain the meaning of the poems. One of the poems is written by Lonnie Donnegan, he writes about his father who was a Dustman. In this poem he tries to reflect the life and job of his father. The second poem is published by Wiliam Wordsworth and is called “I wandered Lonely as a cloud”, and describes the situation of a young man who does not feel respected and happy in his family. He sees his family as a cold and lonely place without heat and feelings. The last poem which we have discussed in the 4 hours was an old Scottish poem with a Scottish dialect. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -12- Handelsstrategien an bedeutenden europäischen Finanzmärkten 3.2.5. Bethmannschule Frankfurt am Main Project Planning and Presentation Skills Tuesday, 27 January 2009 by René Brüntrupp During our time in London we had to work on an own project besides attending college. Therefore we had a lesson, called “Project Planning and Presentation Skills”, to get informed about the details of our projects. The teacher gave us information about our executive summary, the presentation and the assessment criteria. The executive summary was supposed to be sended to the college four weeks after our return to Germany. It should not include more than 1.000 words. Because of this, our teacher emphazised that it was not the most important thing for us to decide what we put into our summary, but what we leave out. It also was important for us to find a clear structure before starting to work on our projects. This structure had to have a start, where we introduced the project we worked on. The middle part included the main body of the text with our analysis and describtion and the end part we wrote our conlusion and/or recommendation. Everyone of us had to present his topic to a group and the examiners. The presentation were at the end of our stay in London - at Wednesday before our departure. We were supposed to do them with Microsoft Powerpoint. The time limits were at least 10 but not more than 15 minutes. Our teacher mentioned that it was really important to care for the lower limit because less than 10 min. speaking would lead to a fail. More than 15 min. would only cause a downgrade. The assessment criteria for our graduation were subdivided into three parts: Content, Language and Presentation skills. The marks in England are Distinction, Merit, Pass and Fail. We got handed out the evaluation sheet so that the criteria were transparent for us. To get all possible certifcates, we had to get a pass in every criteria. After giving us information about the details of the project work, our teacher gave us time to ask questions and told us a lot of advices for our work. He highlighted for example the need of proper research, which is the basis for good academic work. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -13- Handelsstrategien an bedeutenden europäischen Finanzmärkten 3.2.6. Bethmannschule Frankfurt am Main Location for Business Wednesday, 28 January 2009 by Florian Dalchow On a rainy Wednesday we are sitting in our college and are waiting for our teacher Eddie to tell us something about how to decide about a location for business. In his introduction he tells us that he is a former banker. As he asks us what we are doing, someone tells him we are all asset managers. After that we begin to collect all factors which need to be thought about in order to decide where you open a business. We start to tell him the typical factors. First of all, it is really important to think about the infrastructure of a place because many companies have to transport a lot of material. Not only the material but also the people have to be transported to the company and back to their homes. Therefore it is necessary to be close to streets or railways. Some industries like the Canary Wharf logistic industry need a connection to an airport or port to send their goods all over the world. This is really important for the companies of the industry. Some other factors are the availability and the costs of the land where you want to start your business. When your costs are small your profit will be higher. In our modern economy ofservice the land factor is not the most important factor for the decision. The most important factors are the telecommunication network and the availability of skilled employees. The telecommunication is necessary to transport news and information as fast as it is possible from one to another. The whole World Wide Web is dependent on the telecommunication network. In the financial industry, information is one of the worthiest factors to be successful. It is also necessary to be fast connected to the customers or to the exchange to make the business profitable. In our type of business every company needs well educated people. Thus, when you decide to open a business Modern business building in London somewhere you have to take a look if there are enough people with the required knowledge for your company. To keep an eye on the salaries and the social costs of the employees is also a good idea. If you don’t want to have too much competitors at your new location, you have to check the situation ofyour new place. If there are too many competitors you have to search another place for your business. In order to European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -14- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main increase your profit, you should also compare the taxation on different places. When you have to pay too many taxes your profit will decrease. The taxation for the employees can make the difference, too. A high taxation will increase your costs and decrease your profit. Apart from that, the political and economic stability plays a role when you choose a business location. Who wants to be located at a place where you don’t know who will be the leader of the country on the next day or where the leader changes his opinion every day. An access to your markets will also be an advantage for the new company in order to be successful at a new location. After having enumerated most of the factors which have to be considered when you try to choose a good location to run a business, we have to find a perfect place for a brewery, a restaurant or a travel agency in a group work. After this, our lesson ends and we all get a well-deserved break. 3.2.7. London as a Location for Business Wednesday, 28 January 2009 by Marcel Ewald London was founded by the Romans. They built a garrison and the London Bridge to pass the river Thames to the north with their army. Later on a habour was built to supply the troops. In this time first goods, especially food, were exchanged. During the colonization London became more important as a trading centre, because of trading with the British colonies. In this time insurance companies grew as there was a higher risk for ships, which transported commodities from the colonies to London and the other way around. Now London is a financial and trading centre. It has a perfect position to negotiate with the whole world because of its time zone. In the morning you can trade with Asia, in the Big Ben and London Eye afternoon you can trade with America and continental Europe has nearly the same time. For this reason there is a pool of employment because many large companies have their head offices in London. The City leads the world in a range of financial services including foreign exchange trading, international equities trading, fund management, derivatives trading, international insurance and bonds trading. All in all London has 41% share of all European Financial activity. Working there is also attractive for employees even if the average salery before taxes is lower compared to cities like New York or Tokyo. People can visit the stadiums of 13 professional football clubs or can go to museums and theatres. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -15- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main The Infrastructure is also very good. It is possible to use one of the thousands taxis, buses, tubes or one of the five international airports. Heathrow is the busiest airport in Europe and it is linked to the city by the Heathrow Express, which operates to Paddington every 15 minutes. With the Jubilee Line you have an excellent accessibility to the City Airport. 3.2.8. Globalisation Wednesday, 28 January 2009 by Nathalie Hett At our third day at the college we talked with our teacher Eddie Charles about globalisation and its effects on the world today and in the future. We started with a brainstorming what globalization means and chose two points, the multinational Cooperation (for example Microsoft with its global branding, standardized products, tax efficiency and the lower costs) and the effects on the technology/media (for example the global news coverage, instant reporting and the Internet). Then Eddie told us something about the steps along the way until today. We spoke about the reasons of globalization like the human settlement in further times, empires and religions which came across the world, the press and its influence on daily life, culture, music and art, sport events and world cups. Hyde Park in winter Eddie told us that the globalisation has different effects on different topics. So we took three topics and searched for some effects that globalisation has. The first were the economic effects like the deregulation of markets, the international trade, the cross border markets like the EU, the standardisation of money transfers between banks all over the world, the political cooperation and the global investment of companies and customers. As the second point we chose the political effects. The students mentioned effects like the exporting ideology, the supra-national bodies like the UN or UNICEF, the immigration and Emigration, the democratizing influence, the human rights and the free press. The last point was which social effects globalization has. We chose the use of common language like English, cloning of lifestyle, cultural tolerance between people and religions, loss of tradition and culture as an advantage, the different religions and harnessing of international aid. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -16- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main At the end of the lesson we should think about what we imagine about the future and what might happen. We heard examples like the loss of tradition and cultural diversity, the need for innovation in daily life to become different, that there would be more political cooperation and maybe the loss of freedom of the individual. 3.2.9. The Impact of the Euro on Great Britain Thursday, 29 January 2009 by Johanna Hetzler Today’s topic in class is Britain and the Euro. Obviously Britain is among Denmark and Sweden one of the few countries that kept their own currency instead of adopting the Euro. In an open discussion our teacher Sven – who used to work in the financial business as well – and our class discussed two questions: Why has the UK decided not to adopt the Euro? £ is tradition and part of the British culture Part of British identity and reminder of colonial day £ is (supposed to be) a stronger currency than € Political implications: Labour Party promised to keep the £ Bank of England separated from European Central Bank and therefore has total control over the interest rates How would the economy benefit if the UK adopts the Euro? Stability and therefore increased cash flow to UK 40 – 50% of export/import of UK is within European Union, a unique currency would ease up things € would get stronger, maybe even the strongest currency in the world Negative impact on political relations with USA because $ would weaken Foreign exchange sector on the £ will be lost Bank of England will lose its role Since the price of the £ recently collapsed and experienced a 30-40% loss in value, discussions rise up whether the time has come to adopt the Euro. But most Britons – European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -17- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main with their distinctive sense of tradition – nevertheless still oppose the Euro in favour of the £. 3.2.10. Introduction to English Law Thursday, 29 January 2009 by Charlotte Höntschke Our teacher Sven gave us some background information for our visit to the law court, so that we know, what will happen during the process. He told us also not to bring any bags or cell phones. Therefore he shows us a power-point presentation: The first slide was about the difference between civil and crime offences. Civil offences are disagreements between individuals or companies. Criminal offences are punished by the state depending on the severity of the crime committed. After that, he told us something about the Lord Chief of Justice and his job. The third slide was about the question “What is a tort”. There were some examples: negligence, trespass, liability for premises, nuisance or defamation. Then there was a slide about the Community Justice Centre. It was designed to make justice more efficient by consulting with the local community. It deals with “quality of life crimes related to a specific community”. Afterwards Sven shows us three slides about the duties and responsibilities of The Tribunal, the Police and the CPS (Crown Prosecution Service) The Tribunal is an independent service and a judicial body. It is concerned with employment and transport issues, with unfair dismissal, breach of contract and also with asylum and immigration. The Police is responsible for all emergency duties as well as for theft, burglary and robbery responses, also for physical assaults, riot and crowd control. It has the duty to search and arrest people, who committed a crime. The detention of the suspects can be up to 24 hours, but not for suspected terrorists. They can be arrested longer. The CPS has the function to protect the people, which are charged with criminal offences. It takes cases from the police beyond investigation, advises police on charge to bring forth preparing cases for court. Furthermore the Magistratly court (smallest criminal court) and the Crown Court (next level up from magistrate) are parts of the CPS. The last slide was about the Old Bailey Court, which is the highest Crown Court. It is based near St. Paul’s and is concerned with murder, rape and robbery. Altogether the presentation was very interesting for us and so it would be easier to understand the case on our visit to the crime court. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -18- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main 3.2.11. Language Support/Discussion Thursday, 29 January 2009 by Fabienne Hölper The lesson starts at 11:15 o´clock. At first, the teacher answers questions regarding the lesson before. After that, he introduces, the new task which is prepared in a group of four students. Two groups had the task to find adjectives via brain storming. The other three groups must choose a crazy product and write down in which way the product is used for. The idea was that the students come outside of normal thinking. For example a product for fiction or star track. Then we start of collecting the adjectives and the different products and write them on the board. Product 1 Sloth ICE AGE Bicycle Snow chains seat transforms into bed integrated pan try / fridge SNEG- snore noise electricity generator IBHSintegrated biological heating system gas fulled FPS- food positioning system FSSS- federal sloth searding system Product 2 Strech cup Product 3 Mobile phone for Dagobert Safe / treasury Adjectives 1 Theme park Adjectives 2 soccer Service / refill button Internet access Money / gold finder Touch sreen Anty theft Voice- reactive Travel map Scary Green Funny Dirty Surprising Exciting Crowded Dusty GPS (if the cup Solar / battery is lost) powered Boring Dynamic Thermalcontrol Time machine Exhausting Load Under fusion Fingerprint reader Multi- purpose Fast Car / helicopter Tidy Vibration alarm Credit card reader Round Crowded Extraordinary Painful After that the teacher gives us the next exercise. We should put the words from each group together and make a sentence for a crazy product that make sense. Every group must presents their own sentence and the teacher writes the sentence on the board. Group 1: Sentence: A green and dynamic nuclear fusion snore noise electricity generator with travel map. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -19- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Product: It could be a Microphone / loudspeaker. Group 2: Sentence: A crazy green food positioning system teleporter and space adjustment. Product: It could be a fridge. Group 3: Sentence: A recreational female sloth search system with vibration alarm and teleporter which is fast and dusty. Product: It could be a product for a man. Group 4: Sentence: An extraordinary seat to bed transformer with vibration alarm which transforms you tidily into a car. Product: It could be a bed in a car which is tidy up on its own. Group 5: Sentence: A surprisingly crowded integrated fridge with refill button and credit card reader. Product: It could be a fridge maybe in the future that will be created with a credit card reader for the customer in the supermarket. At last we come to the result that all our products are useable and the lesson ends at 12:45. 3.2.12. The City of London and its Financial Institutions Friday, 30 January 2009 by Francesca Kegler In the lesson of Graham, we talked about the City of London and its Financial Institutions. We talked about the banker’s different positions. MCIB (Student) ACIB FCIB Member of chartered Institution of Bankers Associate chartered Institution of Bankers Follow chartered Institution of Bankers Graham talks about our trip to the City of London. At first we will walk around and look how different and strange London is. Then we visit the London business and the bank street. By the way we visit a street, where was filmed a part of the movie “Harry Potter”. Then we cross in a street where an important pub is located. It’s called “Jamaica Inn”. Jamaica Inn is a place for the bankers to communicate. It’s also a place where bankers go to lunch or to drink some coffee. European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -20- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main The next visit is the Edward Lloyd’s coffee house centre of the insurance business. After the Edward Lloyd’s coffee house we go to the Royal exchange. It was a big centre for luxury shopping. There were over 400 shops and restaurants, but the shopping mall was closed many of years. Now it’s re-opened but they don’t have 400 shops at all. There are only a few shops and circa 2 restaurants. At the end of our tour we will visit the museum who is called “The bank of England”. After the information lesson, we travel to the City of London and visit all the monuments. 3.2.13. Excursion: The City of London and Bank of England Museum Friday, 30 January 2009 by Jan Keiter and Marco Korngiebel On 30th January we visited the City of London and the Bank of England Museum. In the morning we were introduced into the topic by Graham. He told us something about the history of the City. After that we started our tour through the City of London, the financial district of London. We went through the narrow alleys in the City. The area Jack the Ripper was in action. At 30 St Mary Axe there stands the so-called “Gerkin” the tower of the Swiss Re. Some meters away was the Lloyds Building. It was innovative in having its services such as staircases, lifts, electrical power conduits and water pipes on the outside. After that we went through the Leaden Hall. On this market there will be sold fresh food. It became famous in a “Harry Potter” movie. Our next stop was the “Jamaica Wine House”. It was the first coffee house in London opened in 1652. Today it’s a pub where the London City Bankers are going to. We also did it like the bankers and drunk a pint of beer. After the beer we went over to the Royal Exchange. In 1565 it was founded as a centre of commerce. The building burned down two times over the years. The tour finished in the museum of the Bank of England. There we got to know the long history of English central bank founded in 1694. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -21- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main 3.2.14. Business Role Plays / Discussion Monday, 02 February 2009 by Marcus Kuhl The "business" is a load-bearing size in every economy. It isn't easy to establish a company and to extend it then. We had faced this task in the lesson. We were divided up into groups to make a company more attractive for investors to ensure the forthcoming expansion. It was to create a survey of the company to filter out the strengths, weaknesses, chances and threats of the enterprise first. As a basis we had a food processing cooperation, with a new "healthy cooking sauce". After the teamwork we have introduced our companies. Through the marketing strategies and the SWOT analysis you can recognize the company. In addition arose from this analysis new products, such as those" Sauce Hero" or “Flying Sauce”. Introduction to the London Metal Exchange Monday, 02 February 2009 by Nicole Kuhlen and Andreas Laucht The London Metal Exchange is the world’s premier non-ferrous metals market. It was established for over 130 years and is located in the heart of The City of London. Metals were traded for hundreds of years in London, but the demand for metal was not huge until the industrial revolution. In that time the demand for metal increased dramatically. Today it is a well established and liquid market. 40 Billion USD are traded at the London Metal Exchange every day. 95% of the business is from outside the UK. Just 3% of the trading is physical settlement. The other 97% are speculation! The primary roles of the London Metal Exchange are “hedging”, “pricing” and “delivery”. European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -22- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main The idea of hedging in that case is that participants, primarily from non-ferrous base metal and plastics related industries, have the opportunity to protect against risks arising from movements in base metals and plastics prices. The “pricing” is providing reference prices which are accepted globally and widely used in the non-ferrous metals and plastics industries for benchmarking. The “delivery” enables market participants to make or take physical delivery of approved brands of LME traded contracts. There are currently three ways to trade on the LME. Through open outcry, telephone and electronic systems. There are only eleven brokers in the trading ring. In 2007, the London Metal Exchange had celebrated 130 years since its founding in 1877. Introduction and Excursion: The Docklands Tuesday, 03 February 2009 by Mauurice Loewe On this day has been the biggest snowfall since 20 years and the traffic in London broke down. The consequence was that the excursion to the Docklands has also been canceled. – But then we find a date on which we could catch up this trip. HISTORY The Docklands are located in the east of London. They are called like that, because the docks were a part of the London harbor which was the biggest harbor in the world. In the Middle Ages the ships only docked at City of London or Southwark. Today this area is called Pool of London. After some time there was too less place and so the Docklands became bigger and bigger. The docks were used for charging and discharging the ships, repairing them and at least building them. Of course there were also a lot of warehouses, piers and landing stages. During World War II the docks were European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -23- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main destroyed in most instances, but although in the 1950’s the area obtain prosperity. Then between 1960 and 1970 the docks had to be closed, because big containerships were created and they were too big for the docks. Today the docks are no longer used for shipping. It is now an area for living and working in services. Tour On this rainy day we started our tour at the ECBM College and went by the Circle Line from Liverpool Street station to Tower Hill station. There you could find the old roman city wall, near to the old lighthouse centre. From there we went along the Tower of London to the first Dock. This Dock is called St. Katherine Dock and was build up in 1927. In the past it was a centre for ivory and living elephants. Today there are lots of expensive ships and luxurious apartments. Then we crossed the Telford Footbridge, which is the entrance for the next dock, the East Dock. After this we passed the river themes police and our teacher showed us where the pirates were hanged. We walked through the Docklands and crossed the Tobacco Dock and the Cable Street where a lot of emigrants are living and in the past there were a rebellion by the emigrants. This rebellion is illustrated at a house wall. We reached the underground station Shadwell, there we went by the DLR Line (Docklands Light Railway) to the West India Quay Station. This is the entrance to the Isle of Dogs; the headquarter of the financial sector. There is also the highest building of London located, the Canary Wharf Tower (245m). We walked across the Canary Wharf tower to come to the underground station Heron Quays, there we went again into the DLR to Island Garden. This ride was really fascinating, because DLR railway was built up above the ground so you had a nice view over the Canary Wharf Docks. Then we had arrived at the station and walked to the waterside of the river Themes. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -24- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main There we had a nice view on Greenwich; this district of London is world famous for his time gauging station at the meridian. At the waterside there was pedestrian tunnel, so we could take a walk under the river Themes to reach Greenwich where our cold and wet but interesting trip ends. International Marketing and Advertising Wednesday, 04 February 2009 by Michael Neumann As the name of the lesson illustrates, did we talk about marketing and advertising. The lesson began with a discussion about what marketing means. Thus all members of the course picked up thoughts. In the end we used the brainstorm approach to combine our thoughts about what we associate with the term marketing including ideas like “promotion”, “products”, “research”, “place”, “innovation” and “price”. Our first cognition was that marketing is always about making profit in the end. After all, we tried to find a definition of marketing and talked about the factors on which marketing is based on. We came to the conclusion that marketing describes a business process of identifying, anticipating and satisfying customer needs and profitability. Companies must provide products and services that customers wish to buy. Next we talked about needs, wants and demands and how to distinguish the three terms: Needs are all tangible and intangible things that people are not able to survive without. That includes physical (like food, clothing, warmth and safety), social (belonging and affection) and individual needs (like knowledge and self-expression). Wants are needs which people desire because of their culture and individual personality. This could be the desire for a blue sweater instead of just desiring a sweater. Lastly demands are wants translated into buying power. Most of the time customers wish to buy products or services that satisfy them enough in relation to what they have spent. Furthermore we talked about the marketing mix, a process which helps to sell products and services successfully and answers the following four questions: 1) What product/ service do we want to sell? 2) For what price do we want to sell our product/ service? 3) How do we want to sell our product/ service? 4) How do we want to market our product/ service? Thus the marketing mix is the way in which products and services are marketed by a business and includes four elements, the so called “4Ps”: product, price, place and promotion. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -25- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main “Product” stands for new developed products, branding, design and packaging. In regard to this it is pretty important for a business to define what its product or service means to customers. “Price” describes costs, profitability and value of money and incentives. “Place” describes where the product is sold and how it gets to the customer. It especially means the distribution, access to market, channel structure, channel management, retailer image and logistic. “Promotion” gives information about how customers become aware of the product and services and how to persuade customers to buy them. At the end of the first lesson we got a short insight into the SWOT analysis. This is a business tool that helps analysing how successful a product, brand or company is performing in a market. The word SWOT is an acronym including the words strengths, weaknesses, opportunities and threats. Strengths are all advantages a company has over its rivals in the market. Weaknesses are areas in which the product or brand is performing not that good as rivals. Strengths and weaknesses are internal factors that can be changed. Opportunities are circumstances that put the business in an advantaged position form which it can perform better than its rivals. Threats are factors that can damage the performance of a company. Opportunities and threats are external factors that cannot be controlled and changed by the business. International Marketing and Advertising (Part 2) Wednesday, 04 February 2009 by Thomas Neifer Based on the information we got during the first lesson, we should prepare a presentation on two different companies and their marketing strategy. Three group dealt with the brand “Ben Sherman” by looking at its Marketing Mix-strategy, here are the conclusions: Group I with a focus on its promotion The brand “Ben Sherman” appeals to youth market and the identification with its style. This is achieved by the brands direct marketing, its sponsorships (“best breakthrough artist”) and its events of fashion and music. Furthermore it invests a lot of money in advertisement to address its young audience. Group II with a focus on placing The second group analysed its placing procedure. “Ben Sherman” is a strong brand with a clear philosophy. Its locations to buy are rare to keep the value of it high. It has got three traditional channels of distribution: own stores, department stores and European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -26- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main shops in shops. Additionally is uses media and press by launching a website in 2007 with a shop and a large community. Group III with a focus on the position “Ben Sherman” has got medium-priced products. The brand has got an image of good quality and a good style by which the price is reflected. The other two groups dealt with the car company “Skoda” by analysing it using a SWOT analysis. Group I Skoda’s strengths are its connection to VW and its useful image of “happy drivers”. But its image is also a weakness, because of its understanding as a low-budget car. The opportunities are the technology of VW and the “happy customers”. Threats are other low-budget cars. Group II The strengths are that there is no low-quality any more and the new technology of VW, so that it could be competed with other brands. The weakness is the still existing image problem as a low-budget car. Its opportunities are the “happy customers”, the technology of VW and that it could be repaired in all VW garages. Skoda’s threats are also other low-budget cars. ECBM Products and Services Wednesday, 04 February 2009 by Julia Nowitzki History The European College of Business and Management was founded in 1988 by the German-British Chamber of Industry and Commerce and a number of international companies. Robert Bosch, Siemens and Commerzbank are all members of its advisory board. To date it has provided more than 6,000 young people from various European countries with business, cultural and language skills to enable them to work effectively in international markets. The ECBM is the affiliated college of the German-British Chamber of Industry and Commerce (AHK) and specializes in providing high quality programmes at Bachelorentry and post-graduate (leading to MBA) level. The name of the Company was changed on 22 April 1988 from "Standpolar Lmited" to "British-German School for Vocational Training", on 15 June 1995 from "BritishGerman School for Vocational Training" to "European Vocational College" and on 6 European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -27- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main July 2000 from "European Vocational College" to "European College of Business and Management". What is the ECBM? The European College of Business and Management (ECBM) is a registered nonprofit making charity specialising in the provision of customised business training by working in close partnership with employers. It has grown to be a highly respected and successful provider of education and training in an English speaking environment. It welcomes over 200 apprentices and undergraduates from Siemens AG each year on customized short-courses, and it is also the partner of Siemens UK (Ltd) in the establishment of their Siemens Commercial Academy in the UK. It has developed strong links with a number of UK universities which allows the institue to provide the benefits of fast-track and high quality education to its students, many of whom are from Germany or work for German companies. It co-operates with universities, Chambers of Commerce and major German companies in order to offer internationally recognised qualifications. The courses The institute offers three main areas of business education: >> Bachelor: We provide courses leading to a ‘top-up’ Bachelor for German students who have a ‘kaufmännische Ausbildung’ or who are members of one of our UK corporate partner schemes (for example Siemens UK or Commerzbank traineeships). These programmes are delivered via blended learning. >> MBA: This course is suitable for students with sufficient business experience and/ or Betriebswirt-level qualification. The ECBM offers its two-year Diploma in Management Studies/ MBA programme which is organized mainly through weekend study, mainly in Germany. European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -28- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main >> Intensive Courses: We have developed an intensive short programme for Berufsschulen and Berufskolleg which is a customised one to three week intensive professional development programme for an average group size of 20 students. Excursion: The Law Court Thursday, 05 February 2009 by Tony Quitschalle Before we went to the Law Courts, we had a short introduction about the Law Courts and the British law system. In general, we talked about the Magistrates Court and the Crown Court and their relation to each other. The Magistrates Court is the lowest level of court in England and Wales, it is the County court. Magistrates' courts deal with minor offences (fines of up to £5,000 and imprisonment of up to 6 months). Often, in this court, the defendants plead to be not guilty. Because of this, they were brought to the Crown Court. The Crown Court is the higher court of first instance for criminal cases and includes a jury. This jury consists of 12 people and the purpose of the defendants pleading not guilty in the Magistrates Court and pleading guilty in the Crown Court is that cooperation in the Crown Court often leads to a lower punishment. After this short introduction, we went to a Crown Court. Our group was separated and we saw parts of two different proceedings. In one of these two, two persons were prosecuted for murder. It was said that their fingerprints were found at the location of murder and that they also touched a knife which was found at the location, but which was not the weapon with which the victim was killed. In the other case, 3 men from Bangladesh were prosecuted for murdering a man in a house. It was said that there were organizing this crime before and were planning everything in detail. The evidence showed that they used a hammer and a knife to kill the person. After he was murdered, they tried to escape via plane to Bangladesh, but because of their phone calls they made in Bangladesh, they could be traced back. In my opinion it was a very awkward feeling sitting right next to people who obviously had killed somebody else. I think this trip was a very interesting experience for all of us and showed us, how different a system of justice can be. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -29- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Modern British Politics Friday, 06 February 2009 by Marizio Regalbuto Our tutor informed us about modern British politics on friday the 6th of february. We were talking about the meaning of the term politics. In generally speaking politics means power and representation. Politicians get power by their voters. The voter expects that the elected politician will fight for his or her interests. Most politicians are leading so to say two different lives, a public and a private one. Furthermore we were discussing the various electoral systems in London for instance the election of Hackney Council, the election of the greater London authority. Those different kinds of elections take place regularly, namely every four years. There are also existing the elections to the National government and the European Parliament. Our Tutor told us about the structure of British legislation. The United Kingdom has two mayor political authorities, namely the House of Commons which can be compared with the German Bundestag and the House of Lords which can be compared with the German Bundesrat. It is important to know that the House of Lords has less influence. It’s members have no direct influence on legislation whereas the members of the House of Commons are in charge of a huge part of the legislative power. They are able to decide over the amended laws which were made by the members of the House of Lords, whether they have to be changed or passed. Queen Elizabeth II is the last step of that system, she accepts laws with the help of her signature. Finally we were talking about the differences between the German and the British electoral system. In Great Britain there are only existing the various (660) election stations. Those 660 districts or stations vote their deputies. The party with the most votes will win the election. That party will be governing the country for the next five years with the help of the Prime Minister who is part of the elected party. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -30- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Modern British Economy Friday, 06 February 2009 by Alexandra Schick Today we talked about the British economy. First of all we talked about the factors which influence the British econonmy and how they had changed in the last years. These factors judge whether an economy is performing well or badly. These factors are : - the GDP (Growth Domestic Product) the standard of living the average income the value of currency the economic confidence the performance of the stock market the level of inflation the balance of payments (difference between value of imports and exports) the level of savings an debts the government deficit the level of taxation and the level of unemployment Because of these factors we came to the conclusion that the British economy turned down in the past years. Beside these factors there had been some other external effects which influenced the British economy in this way. These are the housing bubble, credit and debit problems and the financial services boom. We finally came to the conclusion that the industrial and the financial sector of the UK are unbalanced. Communications at Work Monday, 09 February 2009 by Silvia Sterle and Raphael Silva Caneiro The lesson started with a discussion about a good communicator. A good communicator should have a loud voice, he has to speak slowly (but not too slowly that the partner fell asleep in that time). He has to speak clearly, not too monotone and he has to use face mimic or facial expressions. The main thing is that both speakers have to look in the eyes, because it gives the other person a feedback about what he is thinking. There are a few types of communication: Face-to-face Email Telephone European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -31- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Face-to-face is the best of them, because you can see in the eyes, you can check the reaction of the partner, you have a feedback directly. A kind of relationship was build during the conversation. The advantages of email are that the sender can send in multiple directions and it’s faster as well. But the feedback is missing and there are no reactions and emotions. By telephone you can say what you want, but you have no face contact. Sometimes its just for small talk. Afterwards we made an exercise with logo. 2 partners are sitting back to back, one of them told what to do with the logo and the other one has to do that. He is not allowed to give any feedback. Communication of a team leader Downward communication is about receiving information from the top down leaders for example in form of an Email Upward communication is in form of a meeting called for example Town Hall where employees can speak to the leaders and tell what they criticize. Sideways communication is when team members are talking to each other Communication process The sender has a massage. He is about to reach the receiver to give him the massage. By the way he has to choose a channel, the way how he wants to speak to the receiver for example from face-to-face or by telephone or Email. The receiver can give a feedback to response the massage of the sender. 3.2.24 The Intercultural Business Environment Tuesday, 10 February 2009 by Julian Stolzenbach and Volker Strobel On the 10th of February 2009 we had four lessons with Mr. Harman-Baker. The topic was “The Intercultural Business Environment”. At the beginning we started with a discussion about culture. What is culture? We defined it as “a certain kind of behaviour”. A kind of behaviour that is different from place to place. And even more importantly, culture influences the behaviour of the people and the people are influencing the culture with their behaviour. In this context we talked about a football match as an example. Fans are normally screaming and cheering for their supported team. A non-involved person who doesn’t know that it is normal will also start cheering. So the cultural environment is influencing his behaviour. The next point we talked about was the development of the area around the ECBM. Today it is known as the centre of modern art. In former times, there were several furniture factories. The conclusion of this development is that there are constant cultural changes all over London (e.g. Canary Wharf, the Olympics and the City of London). And London is definitely one of the best examples of a multicultural population with influences from all over the world. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -32- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Everywhere, but especially in this city, dynamic things are constantly going on. We also talked about companies, for example Ryanair and Easyjet, who support the cultural exchange. They provide a cheap possibility to get from London to Hamburg, Munich, Prague, and numerous other culturally rich destinations. In each of these places, you can experience a different culture and meet unique people. The final conclusion of Mr. Harman-Baker for the first two lessons was that everybody is unique and something special. And everybody lives in a cultural environment. So culture and cultural exchange is to get the best out of anyone. The teacher introduced the second part of the four lessons about “The Intercultural Business Environment” with the description of a role-play that he had held years before in a management training course with German and English managers. The managers from each country should specify their characteristic opinions they had about the other country. Therefore the English said about the Germans that they don’t joke, don’t laugh, are unfriendly, just do business and act like robots. The Germans said about the English that they just talk about personal things, are always late and that they create a carefree atmosphere in business. After this exchange of views, both groups discussed and argued their manner of business environment. Both parties realised that all the time they had lived in a fantasy world. After three days of teamwork, they made really good business, understood each other and achieved a high increase in performance. They all realised that the performance level is very dependent on the social level and that intercultural business means to get the best out of each other. After that Mr Harman-Baker underlined that we are all products of other people. The society makes us what we are. However, everybody is an individual because everybody has made different experiences in his life. Therefore it can be difficult to cope with the distinctions in different cultures, however, you must not judge the culture but handle with the culture. Afterwards, the teacher described the development of the quantity of bank accounts in Great Britain. In the 1970s, marketing in banks in Great Britain was very unpopular and only 44% of the English population had a bank account. In the 1980s, however, Margaret Thatcher changed and passed several laws and acts and therefore all companies started paying their employees every month instead of every week. In order to save the money, the people were in need of bank accounts and in short time 93% of the population had a bank account. Since this time, marketing in Great Britain has increased rapidly. From then on, the main activities in banks have been selling, selling and selling. But nowadays the economy is in a mess: the banks went too far with their selling activities and now bankers have a bad reputation in the society. But Mr Harman-Baker clarified that the current credit crunch is not the sole fault of the banking sector: bankers cannot lend money when nobody wants to borrow it. Therefore the culture is also partly to blame for the current financial crisis. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -33- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main The teacher completed his explanations about the “Intercultural Business Environment” with the words: “You should get to the truth and make yourself more productive by being yourself”. 3.2.25. Examination Wednesday, 11 February 2009 by Natascha Suwald EXAM STRUCTURE • • • The written examination is three hours long. No students will be allowed in the exam room beforehand. There will be a total of 8 questions divided into 4 sections. • You must choose 1 question out of each section and write 200 words to each question. EXAM PAPER Sections Topics A 1. Preparation Pack This topic is about London’s World City status 2. Location for Business This topic is about London’s development from an industrial economy to a service economy and the advantages for business to locate their company in London. 3. Globalisation This topic is about the definition and key facts of globalisation This topic is about the definition of Marketing Mix and the SWOT analysis. B 4. International Marketing and Advertising C 5. Modern British EconomyThis topic is about the development of the UK economy and the modern British economy factors e.g. GDP growth rate. 6. Modern British Politics D This topic is about the British Parliament and the power of the Prime Minister. 7. The Intercultural This topic is about the definition of culture Business Environment and the cultural influences. 8. The Impact of the Euro This topic is about the role of the Euro on Great Britain. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -34- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main 3.2.26. Oral Presentations Thursday, 12 February 2009 by Jelena Tomic On 12th February 2009 we had our oral presentations. In my group we were four students and our tutor was Anna. The four topics of the presentation: Explain the role of the Financial Services Authority (FSA) Do you think that London or Frankfurt will be the dominant financial market in Europe? Why do some corporates prefer debt capital to equity capital? The performance of the UK economy since 1945 and the role of the Bank of England After the presentations we got a short feedback and improvements of our grammar mistakes and the structure of the presentation. 3.2.27. Feedback and Evaluation Friday, 13 February 2009 by Marcus Wallinowski Our three weeks in London and at the European College of Business and Management have gone faster than we expected and now our final day and farewell has come. Now it is time to think about the past weeks and to give some feedback on what we have experienced. On our last stay in the College we were asked to fill in a form to evaluate the lessons we had, the topics we talked about and the skills of our teachers and the quality of the working material. In general most of us were very satisfied with the time at the college. Although the topics of the lessons were quite restricted to British economy, politics and development they were very interesting. We enjoyed hearing about the developments of the last decades in the United Kingdom. Our teachers often compared their findings to Germany and showed differences or similarities to situations in our country. Generally the teachers did very well in explaining things so that even complicated aspects could be understood easily. We could not only earn knowledge in business but also improve our language skills a lot because of the language support lessons we had. The teachers were patient in answering every question and very friendly and helpful. Concerning our projects and presentations the staff of the college supported us as well and gave material on the topic as well as assistance. Moreover we liked the opportunity to get access to the library or to the internet at any time we needed it. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -35- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Another aspect we appreciated a lot was that we made several excursions throughout London, where we got to see places we normally would not see and got very interesting and detailed information. Finally we have to thank all people at the college for their effort and cooperativeness. We really enjoyed our time in London and can recommend the college every time. 3.2.28. Farewell Friday, 13 February 2009 by Björn Weyer I want to write about my topic and it is the Farewell in our college in London. The Farewell was last Friday, 13/02/2009, 1:00 pm in the room of the second floor. In the classroom were orange juice, red and white wine and crisps on the tables. All 41 students, our teachers Mrs Schmitz-Manseck and Alan, as well as the organisator Sarah and the director of the college came together. All of us had a drink. All students of my class at the ECBM. Sarah started with a summary of our previous weeks and how fast these three weeks passed. She also commended our good and professional presentations, which made an impression on our teachers. End the of March or at the begin of April we will get our certificates for our stay and work in London. Even the director congratulated us for our work. After the expression of thanks we got information brochures of the college. Finally we all had a drink and we took a photo of our group. After the photo has been taken we all said thanks to the college staff and went out to enjoy the last couple of hours in London. European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -36- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main 3.2.29. The last day and departure Saturday, 14. February 2009 by Benedikt Wiesmann Today was our final day in London. Though many of us still had a little hang over from yesterday’s partying, quite a number made it down to the breakfast table to enjoy their last breakfast in the United Kingdom. Afterwards the last remaining things were packed into the suitcases of which many were almost bursting with all the London shopping in there. At 10:30 a.m., check-out time, everybody gathered in the hostel’s lobby to hand over the room keys to the reception staff and deposit their luggage in the baggage room. Some already left for Heathrow Airport not really knowing what to do with an extra one and a half hours in London (12:00 o’clock was the official meeting time for the group at Paddington station). All of us liked the comfortable and fast ride to the airport because this time we did not have to take the underground but one of the far more convenient Heathrow-Connect trains. After just 25 minutes we arrived at Heathrow’s Terminal 5, the brand new BAonly terminal, and used the modern quick check-in kiosks to get our boarding passes. Two hours prior to our planned departure we could eventually check in our bags making use of one of the numerous fast bag drop-off counters. When all the bags were checked, we all went through the security checks and enjoyed approximately 90 minutes in the departures hall/mall to have some food or do some final shopping to get rid of our last pounds. At 3:00 p.m. our flight back home to Frankfurt was called for boarding and the entire group went aboard the aircraft, an Airbus A320. After a slightly delayed push-back we taxied to the runway quite quickly, with only a few other planes ahead of us. Once we were airborne the cabin crew took care of our well being treating us with complimentary snacks and drinks. One hour and 20 minutes later we already landed in Frankfurt. There were no problems at border control and customs but some of us had to wait quite long for their checked baggage. Everyone bit each other farewell and left for their homes…and here end our three weeks in London – an interesting and mind broadening experience. Don’t forget to “mind the gap”, folks! ;-) 3.2.30. Spare time activities by Sebastian Witzmann London with its high number of sights gives a lot of possibilities to arrange free time. So, our group consisting of forty students for a higher diploma in investment fund administration had got many ways to get deeper impressions of the English culture. That’s why we benefited more from our stay in London than just to adapt the hard skills learned in the European College for Business and Management. Already during the first week most people have visited London’s most important sights such as the Clock Tower in which a bell better known as Big Ben is installed, the Houses of Parliament or Buckingham Palace. But the students did not visit only European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -37- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main the centre of London but also other districts such as Notting Hill. Students who have been there said it would be a nice place. According to the situation that the majority of the group worked on the presentation until 5pm or even 6pm spare time started in the later afternoon. The way home lead through the city. That fact gave us the opportunity to go on shopping and to benefit from the weak Great Britain Pound (around 90 Pence per Euro) and the sale offs in the stores (up to 70%). But the most important thing for nearly everybody was an advantageous possibility to call friends and family in Germany. However, from day one onwards students have bought Pre-paid SIM-cards for their cell phones to call home from 4 Pence per minute. After arriving at the hostel the students met with Mrs. Schmitz in the lobby to review the day and to discuss the arrangement for the evening. Usually these meetings took place at 7pm. The students had many ideas how to spend the evenings in London. Once a group of more than ten went on a casino tour and doubled its input. Others played cards or board games, watched a film or formed discussion groups to talk about the experiences made in London and to make plans what to visit next. There were some special events like football matches in the Premier League, a friendly match between Brazil and Italy and the Chinese New Year Festival which were all well visited by our group. Some people were very sportive and jogged in the Hyde Park in the morning or in the evening. 3.2.31. Weekend activities by Thomas Wollersheim During our three weeks in London we have had much time to explore the city for our own. Many of us took the bus line number 11 starting on Liverpool station. This bus line goes past some of the most famous landmarks of London. Going with this line you can see for example St. Paul’s, House of Parliament and Westminster Abbey. Some of us have also had a trip to the Tower of London and the Tower Bridge. This excursion continued with a visit of the London Eye and the House of Parliament. But we did not just sightseeing in London. Caused by the current weakness of the Pound Sterling compared to the Euro nearly everybody of our group managed to buy some clothes in the area around Piccadilly Circus or Shepherd’s Bush. We have European College of Business and Management Leonardo da Vinci Project January 24, 2009 – February 14, 2009 Page -38- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main also visited the Camden Markets. This very crazy area with all its tiny shops and takeaways can’t be compared with any other shopping area. Some of us could manage to get some tickets for a football match between Manchester United and West Ham United. Having the Hyde Park just a few metres away from our hotel was a good opportunity for some of us doing some sports to stay fit. Caused by a snow chaos on Monday the 2nd February we and our teachers had no chance to go to the college due to the fact that neither the tube nor the buses were working. So we went to the Hyde Park and had very much fun doing a snowball fight and building a snowman. Last but not least we also found some very nice pubs in the near of our hotel and some clubs in the area around Piccadilly Circus were we went for having a drink and doing some party. All included we used the various opportunities which we have had in London and I think everybody of our group liked the trip very much. 3.2.32. Experiencing Public Transport in London by Alexandra Wurm The public transport in and around London is really exciting, because all depends on the time you want to use the transport system. But first I would like to give a short introduction in the different types of public transport. Busses: Driving by bus is really comfortable in London, because in the centre of London you find a bus station nearly every 500 meter. The space between the busses depends on the time and on the line. But even by night it`s easy to drive by bus. The longest time we had to wait were 25 minutes in the night for a night bus. And if you compare with the tube the bus is often faster than the underground. Another advantage is that you don’t have to pay for expensive tours for tourists. If you choose the right line for example line 11. With this line you can see Westminster Abbey, St.Paul’s etc. Tube: The tube was the most awkward topic for the three weeks. It’s the world’s oldest underground railway. With over 270 station and over 400 km length it’s the European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -39- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main longest underground system of the world. But because of Olympia 2012 the government promised to spend a lot of money in the tube system. Tube stations are a kind of adventure, because it’s built like a labyrinth. You really need a little while to understand the system and where you are and how you get to the point you want to go. Especially the central, district and circle line are really crowded in the morning and in the evening for the so called “rush hour”. At these times you often have to pass 2 or 3 tubes before you get a chance to get in the underground. It’s kind of “sardines in a can”. But between these rush hours the tubes are normal loaded. But on the other hand the tube is one of the most interesting places in London. You can find nowhere else such a variety of people. Start with the rich banker with the Financial Times in his hands to end with the punky fashionable kids. 3.2.33. Living three weeks in a London youth hostel by Philip Zimmermann My first experiences of the youth hostel were very well. It was simple and sometimes a little bit small but such ok. So I think the basic atmosphere was on a very good level. But now you have to check weather the atmosphere is good enough to live three weeks very close together in a very small room with four beds and a table. For someone more a problem than the other because of privacy and hygiene it came very often to trouble. But not only were the unhealthy living conditions a problem. Another big problem was the way to get food. That means not that it was very difficult to get something to eat but in the most cases the food opportunities were based on a fast food level with burgers and grilled chicken. To get very well and healthy food was in some cases a very expensive way to eat or such impossible. That made a lot of persons mad about it. But our basic language knowledge made every experience to such a great thing that the food conditions were quickly forgotten. The last part in my short essay living three weeks in a youth hostel is the point of the London sights. We did not really spent a lot of time on sight-seeing tours but I guess to visit the London eye to get a good overview is just a need if you visit London. And some other sights were interesting, too. But all in all I think the three weeks were very interesting and good for my own personal development. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -40- Handelsstrategien an bedeutenden europäischen Finanzmärkten 4. Bethmannschule Frankfurt am Main Project Topics The following text covers the information provided with the preparation pack the participants received from the European College of Business and Management before they left for the course in London. Your project is an important part of your course at the European College of Business & Management. You should conduct your own research both in the UK and your own country but guidance and help will also be provided by course tutors. The work required to complete the project will help you to further your knowledge of written English and will also improve your oral skills. • • • • • You should read the "Project Planning and Presentation Skills" section in the coursebook and use essay or report format. No topic may be chosen by more than 3 students. All topics must make reference to the UK. You will have a project tutorial at the beginning of the course, in which you will be given advice about the structure of your presentation and where you might get the information you need. You should be able to explain your ideas about the project in the tutorial. If you would like to do a project that is not in the list this may be possible, but you should speak about it to the course organiser or a turor. You may be interested in one project but not be happy with the precise wording or all that it asks you to do. If you would like to do an amended version of one in the list, speak to your project tutor or the course organiser, and a suitable new wording for the project can probably be agreed. Oral presentation • • • The oral presentation will normally take place on one of the last two days of the course and should be made using Powerpoint, and handouts where appropriate. Each oral presentation should last no less than 10 , no more than 15 minutes. You will normally make your presentation to a small number of students from your course group ( typically 4-6) and a tutor. The tutor will give you feed-back after the presentation on the strengths and weaknesses of your presentation. You will not be told your grade at this point. Executive summary • • • • The Executive Summary should be max. 1000 words. It is to be completed three weeks after the course finishes and should be submitted to your group leader. If you do not have a group leader, you should send the executive summary to the College directly. The College will not accept executive summaries which arrive late except in exceptional circumstances. The College is not responsible for executive summaries going astray we strongly recommend that you always keep a hard copy and a copy of your project on computer. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -41- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main Resources for your topic The college has a limited range of books and journals in its library. You can ask in your project tutorial for more advice if needed. Each topic has suggested resources in the Project Support folder on the college computers. On the college computers you can find a number of folders with material on UK Economy 2005, on Housing, on European Economy, on London. European College of Business and Management, London Professional Development Programmes Proj ect list Investment Fonds 1. Describe the strengths, weaknesses, opportunities and threats i n respect of the märket for unit trusts in Europe in the next 5 years. Explain the significance of your answer in respect of your own company. 2. The UK has seen rapid growth in the provision of banking services by `nontraditional' banks. (e.g. Sainsbury, Virgin.) Explain and evaluate these developments. 3. One recent development on the UK investment scene is ethical banking and investing. Explain and evaluate this development. 4. Explain the role of the Financial Services Authority (FSA). 5. What is money laundering? How does the banking sector facilitate or combat it? 6: Analyse and evaluate the types of savings account and investment products available on the UK market. You need to be able to advise your clients on shortterm, medium-term and long-term products. Consider your client's attitude to risk in your report. 7. You are a stockbroker who has to advise a private client who wants to invest £100,000. Advise him/her of the financial opportunities available on the London Financial Markets. Use examples quoted over your period of stay in London to illustrate your advice. 8. Compare the effects on the UK and Euro land banking sectors of your country being inside, and the UK remaining outside; the Euro. 9. What are the main functions of the major financial institutions in Great Britain? How do they differ from those in your country? How are they affected by developments within the European Union? 10. Do you think that the relationship between the financial markets in Frankfurt and the City of London will be one of co-operation or competitiori? Explain with reference to recent developments. 11. Analyse the history and policies of the two major British political parties, and their policies towards the financial services over the last 50 years. 12.Outline the performance of the UK economy, since 1945 and the role of the Bank of England. 13. What is the current situation regarding investing via the Internet in the UK and your country? European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -42- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main 14. Evaluate the marketing of at least one bank in the UK and compare it with the marketing of a bank in your country. Analyse how they have developed their marketing activities over the years. 15.There have been a number of mergers in the financial services sector in the UK and Europe. Explain and comment on why this has happened. 16. Discuss the different products in the derivative market and why the financial derivative market exploded post 1971. 17. Discuss the growth of the Eurocurrency market (not the Euro) and why large borrowers and lenders use this market. 18. Discuss the various factors that can affect the exchange rate of a currency. 19. Why do some corporates prefer debt capital to equity capital? 20. What factors affect the market price of a bond and a share? 21. Discuss the various classes of shares that a company can issue in the UK, together with the shareholder's rights and the company's obligations to them. 22. Discuss the advantages and disadvantages of open out cry trading and screen based trading. 23.Compare an Initial Public Offering to raising equity capital by way of a private offering, covering the advantages and disadvantages of bath. 24. Discuss the future of Stock Markets around the world. 25. In ten to fifteen years time do you think that London or Frankfurt will be the dominant financial market in Europe? Give reasons for your choice.. 26.You may select your own topic for your project. The subject area and title must be agreed with your London course tutor. This must be agreed before your arrival in London. The topic must make reference to the UK. We cannot guarantee that we will be able to provide research information for those who choose their own topic. 5. Final Comment by Ann Marie Schmitz-Manseck Schneechaos- Schokoladentorte- London immer wieder gerne! Dies war meine nun dritte Fahrt nach London im Rahmen des Leonardo-da-Vinci Projektes. Zum ersten Mal stellte ich den Antrag auf Förderung bei der EU komplett alleine. Zwischen der 1. Schulphase und Februar 2009 füllte ich online einen viele Seiten umfassenden Fragebogen aus. Im Mai 2008 kam die erhoffte Zusage, so dass sich 41 Schülerinnen und Schüler auf London freuen konnten. In der vierten Schulphase und mit Hilfe des Preparation Packs vom College fand die Vorbereitung statt. Am 24. Januar 2009 begann der London-Aufenthalt der Schüler, am 28. Januar 2009 mein eigener. Während unseres Aufenthaltes erlebte dann London erstmals nach 18 Jahren richtigen Schneefall. Als deutlich schneeerprobter, konnten wir die Hilflosigkeit der Londoner im Umgang mit Schnee nur amüsiert beobachten. Es fuhren keine Busse (keine roten Busse auf Oxord & Regent Street), es fuhren keine Züge, Geschäfte European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -43- Handelsstrategien an bedeutenden europäischen Finanzmärkten Bethmannschule Frankfurt am Main öffneten nicht, weil das Personal fehlte. Er wurde mangels Schneeschaufeln nirgends Schnee gekehrt und auch nicht gestreut, aber dafür entstanden auf allen Grünflächen Schneemänner. Ein paar Tage später feierte ich in London meinen 30igsten Geburtstag. Einige Schüler schenkten mir daher eine Schokoladentorte. Diese ganz normal große Schokoladentorte war wohl typisch englisch, denn sie bestand gänzlich aus Schokolade. Solche Torten sind wir nicht gewöhnt und so sättigte die Torte uns alle (42 Personen). Die Teilnehmer erwiesen sich wieder einmal als sehr selbstständig in dieser ihnen fremden Metropole. Sie bereiteten sich in der letzten Woche alle sehr engagiert auf die oral-presentation vor und so diente die Hotel-Lobby zur Generalprobe von einer Vielzahl von oral-presentations. Das Feedback der Schüler zu diesem Aufenthalt war durchweg positiv, auch wenn wir uns am Ende alle auf ein eigenes Bett und eigenes Bad freuten, so dass sich das Projekt mit „immer wieder gerne“ resümieren lässt. European College of Business and Management January 24, 2009 – February 14, 2009 Leonardo da Vinci Project Page -44-
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