Business Terms - Robber Baron, Knowledge Management, Corporate Welfare, Commodity, Barter, Internationalization and Localization (Paperback)

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 200. Chapters: Flag of convenience, Strategic management, Six Sigma, Business process reengineering, Corporate tax, Offshoring, Knowledge management, Control (management), Balanced scorecard, Lease, First-mover advantage, Price discrimination, Resource-based view, Sensitivity analysis, Outsourcing, Yield management, Small business, Outline of finance, Enterprise modelling, Emerging markets, Acquisition initiation (ISPL), Leasing, Next Eleven, Industrial market segmentation, Implementation maturity model assessment, Knowledge worker, Just in time (business), Quick response manufacturing, Electronic business, PIGS (economics), Channel coordination, Customer satisfaction, List of flags of convenience, Value investing, Commodity, Procurement, Digital strategy, Evergreening, Invoice, Knowledge economy, Fine print, Internationalization and localization, Business technology management, Rent-to-own, Sales, Strategic planning, Cornering the market, Vertical integration, Outline of business management, Interlocking directorate, Job order contracting, Business ecosystem, Capability management in business, Featherbedding, Business analyst, Barter, Knowledge broker, Business broker, Shared services. Excerpt: The term flag of convenience describes the business practice of registering a merchant ship in a sovereign state different from that of the ship's owners, and flying that state's civil ensign on the ship. Ships are registered under flags of convenience to reduce operating costs or avoid the regulations of the owner's country. The closely related term open registry is used to describe an organization that will register ships owned by foreign entities. The term "flag of convenience" has been in use since the 1950s and refers to the civil ensign a ship flies to indicate its country of registration or flag state. A ship operates under the laws of its flag state, and these laws are used if the ship is involved in an admiralty case. The modern practice of flagging ships in foreign countries began in the 1920s in the United States, when shipowners frustrated by increased regulations and rising labor costs began to register their ships to Panama. The use of open registries steadily increased, and in 1968, Liberia grew to surpass the United Kingdom as the world's largest shipping register. As of 2009, more than half of the world's merchant ships were registered with open registries, and the Panama, Liberia, and Marshall Islands flags accounted for almost 40% of the entire world fleet, in terms of deadweight tonnage. Flag-of-convenience registries are often criticized. As of 2009, thirteen flag states have been found by international shipping organizations to have substandard regulations. Only the Liberian Ship Registry (LISCR) appears both on the US Coast Guard's "white list" and the Paris MOU for open registries of over 1000 ships for 2011. A basis for many criticisms is that the flag-of-convenience system allows shipowners to be legally anonymous and difficult to prosecute in civil and criminal actions. Some ships with flags of convenience have been found engaging in crime, offer substandard working conditions, and negatively impact the environment, primarily through illeg