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Posts Tagged ‘Jones’

How Microsoft survived creative destruction

Posted by hkarner - 2. Juli 2019

Date: 01-07-2019
Source: The Economist: Bartleby

The tech giant’s transformation required a change of culture

LIKE AN NFL changing room, the technology industry is littered with the bodies of fallen champions, from AOL to Yahoo to Blackberry, in urgent need of rehabilitation. Ten years ago many might have expected Microsoft to end up in the same state. But the software giant has made a startling comeback, regularly vying for the title of the most valuable company on global stockmarkets, with a market capitalisation above $1trn.

The story of this revival is the subject of a new case study by Hermania Ibarra and Adam Jones of London Business School (LBS). In large part, the success has resulted from a shift away from a focus on the Windows operating system and towards Azure, Microsoft’s cloud-based services offering. It involved a willingness to let Microsoft programs run on Apple and Android smartphones, something the company had previously avoided. Den Rest des Beitrags lesen »

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The Brexit Impossibility Triangle

Posted by hkarner - 14. April 2019

Emily Jones

Emily Jones is Associate Professor in Public Policy at the Blavatnik School of Government, University of Oxford.

Calum Miller is Associate Dean and Chief Operating Officer at the Blavatnik School of Government, University of Oxford.

As the United Kingdom’s chaotic quest to leave the European Union drags on, the country’s leaders need to accept that the primary objectives of Brexit are, and always have been, mutually incompatible. Sadly, their refusal to acknowledge this is indicative of the kind of leadership that led to the current impasse.

OXFORD – With the European Union’s latest extension of the United Kingdom’s membership in the bloc, onlookers around the world are right to wonder why the Brexit process has proved so intractable. The short answer is that the UK’s government and parliament are trying to achieve three incompatible goals: preserving the country’s territorial integrity, preventing the return of a hard border between Northern Ireland and the Republic of Ireland, and enabling the UK to strike its own trade deals.

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Italy’s Dangerous Budget Showdown With Europe

Posted by hkarner - 5. November 2018

Date: 04-11-2018
Source: Foreign Affairs By Erik Jones

Brussels and Rome Are Playing a Game of Chicken

In late October, Italy’s populist government finally got its showdown with Brussels. In September, Italy’s powerful deputy prime ministers, Lega leader Matteo Salvini and Five Star Movement leader Luigi Di Maio, agreed on a draft budget calling for tax cuts and a minimum income for the unemployed, both of which would increase Italy’s deficits at a time when Brussels is pressuring Rome to reduce its debt load. Now Salvini and Di Maio expect European institutions to make concessions instead. It is hard not to imagine that this was their plan all along.

Salvini and Di Maio know that the European institutions will have to push back on any attempt to break the rules for macroeconomic policy coordination across countries—and specifically those rules that force Italy to rein in its debts and deficits. In turn, Salvini and Di Maio plan to argue that Brussels is preventing them from fulfilling their democratic mandate.

This kind of rallying cry will play well in the run-up to the May 2019 elections to the European Parliament. The danger is that it will play badly in financial markets. If market participants start to worry that Italian public debts will begin growing again, they will become less willing to lend to the Italian government, and every Italian will find it more expensive to borrow. This could create a self-fulfilling dynamic leading Italy back into crisis, particularly if the government’s policies undermine confidence in the country’s banks. Hence the European Commission (EC) must seek to enforce the rules—not just for their own sake but to safeguard the European economy as a whole.

ITALIAN STANDOFF
The showdown between Brussels and Rome began in earnest on October 18, when European Commissioners Valdis Dombrovskis and Pierre Moscovici sent a strongly worded note to the Italian government making clear their “serious concern” about the budget’s “significant deviation” from Italy’s prior commitments to lower its debt and deficits. Usually, such a letter would prompt the start of negotiations between the EC and the national government in question. Instead of offering to make concessions, however, Italian Economics and Finance Minister Giovanni Tria responded on October 22 that although Italy’s budget is “outside the norms” for European policy coordination, the Italian government does not believe that its proposal constitutes a financial risk. In fairness, Tria initially wanted to go the usual route of negotiating concessions. But Salvini and Di Maio would have none of it. Den Rest des Beitrags lesen »

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