Debt is at a record high level among young adults ages 18 to 29. Aside from college tuition and prices of other necessary expenditures being on the rise, another causation for the high levels of debt is a majority of young adults do not possess the knowledge or the necessary skill set to manage their own personal finances. Through preliminary research, it was found that twenty-one states in the United States claim to require a personal finance course; however, each personal finance “course requirement” varies on definition and application by state. Only ten states require a one semester non-substitutable (not replaceable with a similar course) personal finance course in order to graduate. In addition to this, no colleges/universities were found to require a personal finance course before the completion of an undergraduate degree program. Since these educational intuitions are deemed responsible for “preparing the youth and young adults for the adult world,” research was conducted to determine how financially literate current young adults are and where the source of their knowledge stems from. A quantitative survey of one-hundred-and-thirty-three anonymous young adults (18-25 years old) was conducted to inquire on confidence levels, knowledge of financial terminology, and the application of that terminology to common life situations. Results showed that individuals were familiar with terminology but not its application. The survey also revealed that young adults are not confident with handling large financial decisions, nor do most young adults practice healthy financial habits (i.e., budgeting). In addition to the survey, personal interviews of ten individuals were conducted in order to evaluate more expansive results. The interviewed participants also did not budget and gave various reasons for it: not necessary, do not have major expenses, and/or have an inconsistent income. In the survey and the interview, it was concluded that young adults primarily give credit to their parents versus formal education in the schools they attended/currently attend for their financial knowledge. Therefore, based on the preliminary research and the survey and interviews conducted, this paper further explains the rationale for and benefits of implementing a non-substitutable personal finance course within secondary and higher educational institutions and challenges associated with doing so.

The Italian luxury fashion industry is home to many of the world's top fashion houses and is intricately connected to traditional Italian cultural values. Over the past several decades, Italian luxury fashion has been highly desirable throughout markets across the world due to its exquisite design and craftsmanship. Since the conclusion of World War II the Italian luxury fashion industry has continuously developed and been highly successful in foreign markets, notably including the United States. This study explores cross-cultural management in the Italian luxury fashion industry from an American perspective. The report begins with a brief history of the industry beginning in 1945 and extending into the early 2000s, a period characterized by tremendous growth domestically and abroad. Subsequently, three cross-cultural management frameworks are utilized to compare Italian and American culture values including Erin Meyer's "The Culture Map," Geert Hofstede's Psychological Framework, and Fons Trompenaars' Expansive Framework. This research serves as the foundation for the final component of the report detailing a cross-cultural management framework for American partners in the Italian luxury fashion industry. This framework reflects potential areas of cross-cultural conflict in addition to current trends within the industry, such as increasingly complex supply chains. The framework is divided into four sections \u2014 Strategic Leadership; Internationalization; Value Chains, Sustainability, and Innovation; and Exclusivity and the "Made in Italy" Label in a Global Economy. Along with the discussion of each component, mini case studies highlighting four of the leading companies in the market \u2014 Versace, Gucci, Prada, and Armani \u2014 are included. Each of these mini case studies provides a brief overview of the company and takes a unique perspective illustrating one or more components of the cross-cultural management practices essential to the successful operation of global fashion houses. The report concludes with three cross-cultural dimensions in which American managers should be especially vigilant when navigating the Italian luxury fashion industry including time orientation, task-based versus relationship-based trust, and neutral versus affective communication. The findings from this study are aimed at executive coaching and consulting environments due to the current lack of literature on the Italian luxury fashion industry.

The Value-Added Tax (VAT) is a broad based consumption tax on goods and services. Similar to a Retail Sales Tax, the VAT has the final burden of the tax fall on the end consumer. However, the tax is collected throughout stages of production, which means the government collects it sooner and the retailer is not the only company remitting tax to the government. As of this writing, the VAT is used in over 150 countries around the world. The United States is the only developed nation that does not have a federal VAT. While there are several plans for VAT implementation in the U.S., one of the more promising is the Competitive Tax Plan by Michael Graetz. In it, Graetz suggests a 10 to 14 percent VAT in order to pay for reduction in corporate income tax and an increase of the individual tax filing thresholds to $50,000 for single taxpayers and $100,000 for married taxpayers. As the nation goes further into debt, it is important that the United States looks for alternative sources of revenue. A VAT could prove to be the best option, as it is a proven solution used by many other nations.

The purpose of this paper was to assist companies involved in international/intercultural business negotiations establish an orderly, informed, prepared, and empowered negotiation team within the corporate structure. The paper introduces and reinforces the importance of a systematic rather than situational approach to intercultural negotiations and assists companies establish the infrastructure, team, team coordination and alignment, preparation for negotiations, and intercultural skills necessary to maximize their success. China was chosen as the hypothetical international opponent because of its importance to the world economy and the value to American companies of establishing a business presence there. It also presented a prime example of the complexity of negotiations that has been so deeply influenced by a 5,000-year-old culture. In order to validate other research materials, the experiences of three expatriates who have lived in China and worked as business consultants there were explored in interviews. Each presented disparate views on the role of culture in successful negotiations, which underscored the importance of preparation to the negotiation process. The result was an outline of how a company can assemble and incorporate a team of ever-improving professionals for any foray into the global marketplace, with specific recommendations for expanding into China. Although the primary focus is on China, the suggestions and principles contained in this paper can be applied to any company of any national origin attempting to enter the global marketplace. By following some or all of its suggestions, companies will be in a better position to participate effectively in international / intercultural negotiations.