world War II destroyed much of Japan, including its economic infrastructure.

The country had to be rebuilt from the ground up. Instrumental to that revival was the work of Dr. W. Edwards Deming, an American statistician and consultant, who is widely known for improving the quality of productivity in the United States during the war. He is even better known for helping transform Japan from a country famous for cheap imitations to one revered for innovative and quality products. The Deming Prize is awarded to organizations in Japan that adhere to the highest quality performance criteria. Fast forward 60 years: Now the United States is relying on the quality management techniques of a Japanese guru, Masaaki Imai, to stay competitive in an ever-expanding global economy. Imai not only has taken quality management to the next level, he has simplified it. It may sound counter-intuitive, but as it is better to swing a golf club slower and not to overthink during the back swing, so is it more productive to simplify how you address what appear to be complicated problems. Imai, a slight man born and educated in Japan, is the father of Kaizen, which in its most simplified translation means improvement. Because of its success in business, Kaizen is one of the most familiar words in Japan. Its goal and that of Imai, its evangelist, is to improve quality, cut costs, provide on-time delivery -- and embrace lean as a strategy. . In addition to its simplicity, it is the last part of the definition that distinguishes it from other quality management theories. Kaizen is not a top down approach. Instead, it is everybodys business.

Southeast University

Prepared For Md. Anamul habib, lecturer School of Business Stidies

Prepared By Name Abdullah sadi khan Md Mehedee Hasan Md Joynal Abedin ID 2006010000134 2011010000089 201101000081

Batch: 27th (f) Department: BBA Date of submission:20thapril,2011

Letter of Transmittal

To Md. Anamul Habib Course teacher Introduction to business Southeast University Sub: Submission of assignment on case study.

Dear Sir, Here is an assignment on case study of east meets west a business joint venture. This assignment was assigned to us as a partial fulfillment of introduction to business. We tried to gather a collection of information to make our assignment specific. Through the procedure of preparing the assignment we developed a clear understanding of business. We tried our best to make this assignment as reflective as possible. We appreciate to provide any information or classification if necessary. Thank you for consideration. Yours sincerely, (On behalf of the members)

Acknowledgement

The submission of this assignment on introduction to business is a very happy Occasion for us. The successes of this assignment depend on the contribution of number of people especially those who have shared their thoughtful guidance and suggestions to improve this assignment.

This assignment has created a great deal of interest in us. We must thank a few people who help and encouraged us to grow our interest. First of all, we would like to thank our honorable course teacher " Md. Anamul Habib " for his proper guidance and care. And, we would like to give a special thanks to the Almighty for given us such patience and power for completing this assignment smoothly.

TABLE OF CONTENTS

Topic east meets west a business joint venture letter of transmittal acknowledgement

Page

1 3 4

problem of partner from a planned economy

how a small business partner tolerate joint venture Americans and Russian business today

14-19

why would a join venture partner from a planned economy have difficulty understanding that consumer is king or queen

Joint venture is a venture( business) started by two or more, for profit. This is like partnership only. But what makes the both different is that the joint venture is for short period.It is for limited period so called as limited partnership, which automatically expires on the completion of the venture for which it was formed. The parties in it are called as Co-Ventures.Where as partnership can be for long period. The computation of profit or loss is done on the completion of the venture. The Co-Ventures may contribute stock or cash for starting of the venture. The going concern assumption of accounting is not appropriate for joint venture accounting. Like in partnership, they too have profit sharing ratio, if not mentioned they share it equally.

Planned economy is an economic system in which the state directs the economy.It is an economic system in which the central government controls industry such that it makes major decisions regarding the production and distribution of goods and servicesIts most extensive form is referred to as a command economy,centrally planned economy, or command and control economy

Disadvantages of a planned economy: No freedom of choice for producer or consumers Lack of incentives for workers result in low morale efficiency. Managers are also not motivated. The system is too rigid to adjust when changes occur, this can result in shortages. Government set prices on goods and sets wages. People get paid even if they don't do there job e.g.: You could sit at a restaurant for an hour and not get served (poor service and rude employees)

The most important person in your business--the customer. It just is not possible to overemphasize this point. It is a simple matter to hire more employees or buy fancy equipment, but it is very difficult to gain new customers while retaining the old ones. Without customers, you are out of business. The success or failure of your business is quite literally defined by the quantity and quality of your customers; yet, so many businesses don't seem to understand, or believe this. Just look at how the level of customer service in America is deteriorating. Personally, it has now gotten to the point that when I hear a company say that one of the reasons to do business with them is because they offer great customer service--I just roll my eyes and disregard it. How sad that it's gotten to that point. Well, because customers are just so pivotal to the success and growth of a business, I'm going to start there. Herein, I am giving you an honest and open discussion from the point of view of one who is often a customer, but due to being a financial counselor, is also keenly aware of how customer satisfaction affects the bottom line of any business. If you own or are starting a business, here is a opportunity for you to gain some valuable insight that can mean success and growth to your business. Please take advantage of this opportunity to learn.

The customer is (not) always right. I've heard it said that the customer is always right. Well, I'm sorry but that just isn't true. I'm speaking from the perspective of a former point-of-sale employee as well as from the perspective of a former manager. The customer is not always right--but, the customer is always the customer! I say this because even though customers can be wrong, irritating, rude, difficult, etc. etc., it is very important to deal with these situation calmly and professionally. One of the keys to success in a business is understanding that we customers are tired of being lied to, misled, shorted, cheated, disrespected, and treated as though we are disposable and replaceable. If you want to succeed in your business, use the information I just gave you to your advantage. How? By being a sort of oasis from all of those things. Trust me, we customers are more than willing to be loyal to businesses which address those issues. In fact, due to being treated properly, I have returned again and again to businesses at which I knew I would have to pay a little more. I gladly paid the higher price in order to do business at a place where I was treated the way I thought I should be. And trust me, I am not the only customer who feels that way.

So in the end we can say that joint venture partner from a planned economy have difficulty to understand the value of the customer because in planned economy government make the product for customer and customer have no personal choices.

Could a small business owner tolerate a business deal that had little probability of being profitable within first ten year?
No a small business owner cannot tolerate a business deal that had a little probability of being profitable within the first ten years because in small business less capital is needed and it had a quick feedback of profit or loss. There are also few disadvantages of joint venture business those are The Disadvantages of Joint Ventures

It takes time and effort to build the right relationship and partnering with another business can be challenging. Problems are likely to arise if: The objectives of the venture are not 100 per cent clear and communicated to everyone involved. There is an imbalance in levels of expertise, investment or assets brought into the venture by the different partners. Different cultures and management styles result in poor integration and co-operation. The partners don't provide enough leadership and support in the early stages. Success in a joint venture depends on thorough research and analysis of the objectives.

Why have few Americans been willing to enter into joint ventures with soviet partners today

American-Russian Cooperation in Managing the Global Financial Crisis: The United States and Russia have collaborated closely within the framework of the G20 on measures to address the global economic crisis, and on the coordination of the reform of financial regulation. In addition, the United States and Russia have worked to improve the governance and capacity of the International Monetary Fund and the World Bank. Resubmission of the 123 Agreement: If approved, the U.S.-Russia 123 Agreement would provide a solid foundation for longterm U.S.-Russia civil nuclear cooperation; create commercial opportunities for U.S. industry; and enhance cooperation on important global nonproliferation benefits. The Agreement would allow for potential commercial sales of civil nuclear commodities to Russia by U.S. industry and joint ventures between U.S. and Russian firms to develop and market civil nuclear items as well as proliferation-resistant nuclear technologies. In addition, the Agreement has the potential to increase cooperation between Russia and the United States in their nuclear supply policies and approach to the fuel cycle. Energy Efficiency: On June 24, our Presidents agreed to implement a multifaceted initiative to promote energy efficiency and the development of clean energy technologies under the Action Plan of the Bilateral Presidential Commissions Energy Working Group. The centerpiece of this collaboration will be the development of a pilot smart grid project based on the most innovative technologies to cut losses in electric power systems and reduce emissions. Russian and U.S. cities will be matched to implement similar projects, and to share best practices and technical information. The Action Plan also includes implementing energy management and technical programs to improve energy efficiency in Russian and U.S. public sector buildings. The U.S. and Russia also agreed to develop financial mechanisms to help create investment incentives for small and medium sized private companies to promote energy efficiency and clean technologies. Creation of the Presidential Bilateral Commission: During their meeting in Moscow on July 6, 2009, Presidents Medevedev and Obama established the U.S.-Russia Bilateral Commission consisting of sixteen working groups ranging from nuclear cooperation, space, health, military-to-military, cultural and sports

exchange, to civil society. Since the creation of the commission, dozens of delegations have traveled to each country, video conferences have been held, and numerous new bilateral activities and programs have emerged to pursue projects of mutual benefit to the American and Russian people. We also agreed to add an Intelligence Sharing Working Group to the Commission. The Commissions first annual report was published on June 24, 2010, and can be accessed at the Commissions website: Military-to-Military Cooperation: Russia and the United States agreed to renew bilateral military cooperation and have approved a work-plan for this cooperation under the Defense Cooperation Working Group of the Bilateral Presidential Commission. Russia and the United States also have cooperated successfully on anti-piracy operations off the coast of Somalia and have committed to intensify counter-piracy cooperation. The U.S. sponsored Russias UN Security Council resolution for an UN-led study on the cost and effectiveness of various approaches to prosecute pirates.