Traco vs Arrow

After a bench trial, the trial court held for Arrow solely under the theory of promissory estoppel and awarded Arrow Judgment against Traco for damages in the amount of $ 75,843. 38, plus attorneys' fees and prejudgment interest. Issue Appellant supplier sought review of a Judgment from the 45th District Court of Bexar County (Texas), awarding appellee subcontractor damages, plus attorneys' fees and prejudgment interest, in an action brought for promissory estoppel and negligence for appellant's failure to supply glass doors at the quoted price.Rule The court affirmed the Judgment of the lower court in favor of appellee subcontractor, finding that promissory estoppel was a viable cause of action in a bid construction case. The court found that the award of damages based on this theory was factually supported by the evidence, and that there was statutory authority for the award of attorneys' fees. The determination of the rate of prejudgment interest also was proper. Analysis Appellan t initially argues that the trial court erred in rendering Judgment for Arrow ecause Traco's bid was revocable and properly withdrawn thirty days after it was made.Appellant primarily relies upon the argument that its sliding doors are goods as defined by the Texas Business and Commerce Code, therefore, S 2. 205 of this code is controlling. Nevertheless, appellant's arguments ignore the appellee's basic contention and legal theory under which this suit was brought. Appellee sought relief under the equitable doctrine of promissory estoppel on the premise that appellant's romises, by way of its oral bid, caused appellee to substantially rely to its detriment.Consequently, appellant's assertion that its subsequent letter confirming this bid somehow invokes the application of the Uniform Commercial Code ignores the fact that the appellee relied to its detriment when it reduced its bid based on a telephone conversation with the appellant, prior to the time appellant's confirmation letter was sent or received. Thus, any subsequent written document is irrelevant to Arrow's cause of action; appellant's first point is rejected.Having resolved that the Uniform Commercial Code does not apply under these facts, we must now resolve whether the equitable theory of promissory estoppel applies to bid construction cases and, if so, whether this doctrine applies under the specific tacts ot this case . While no Texas case has previously applied the theory of promissory estoppel in a bid construction case, other Jurisdictions have consistently applied this doctrine under similar facts, recognizing the necessity for equity in view of the lack of other remedies. Conclusion also was proper.

Costco Wholesale in 2012 Essay

Costco is one of United States’ largest retailers, serving over 3600 variants of convenience products at excellent quality with competent prices. Founded in 1983, Costco quickly expanded in its operations to over 598 stores worldwide. One of the unique selling propositions of Costco is the fact that they offer very low prices as compared to their competitors without requiring to compromise quality. This paper will analyze Costco’s key success factors in terms of its strategic management. Business Model Costco’s business model is simple and straightforward; they offer high quality products at affordable rates. The centerpiece of Costco’s model entails high sales volume and rapid inventory turnover. Costco enjoys high inventory turnover which means that they don’t need to stock a particular good for long period of time. Also, before they need to pay the suppliers, they are able to sell it. Which means, they are able to pay suppliers with the cash derived from sales, leading to low working capital. This shows significance in financial health and good financial management. This kind of business model is appealing for several reasons; low prices can generate high number of customers, indicates healthy operations, encourage rapid turnover, decrease warehouse costs and many more. However, in order to keep up with this business model, Costco needs to continually maintain overhead costs, which will be discussed further into the paper. Strategy Costco’s low pricing strategy highly depends upon several factors. In terms of pricing, they offer bargain products at low prices. Their earnings highly come from membership fees, over which members can join in an annual subscription and enjoy promotional rates as members. Even though Costco enjoys less profit margins, they have high number of annual members and earn their profit by membership revenues. In terms of product, their Kirkland Signature is also of good quality as a representation of their brand. They are also ready to experience loss of sales by customers who do not want to purchase in larger quantities. Treasure-hunt merchandising is also a smart  method to continually renew their product lines to encourage members to purchase the item right away in fear of not having them available at the next visit. Jim Sinegal and Core Values as CEO Jim Sinegal shows good examples of leadership as a CEO. He conducts an open-door policy which makes him accessible to staff, thereby increasing employee motivation. Jim also conducts regular store visits as opposed to working at a desk, which shows his willingness to step down to the field to help improve the store. The business environment is made to be causal and unpretentious, so employees feel sense of belonging and are often committed to the organization, in benefit of themselves and the company. Low employee turnover shows the compatibility of the employees and the company, which means that the corporate culture can be maintained or enhanced. Financial Perspective We have come to understand that Costco achieves much of their revenue from membership renewals. Observing the financial data, we see that Costco’s membership fees if four times over from 2000 up to 2011. This signifies their proficiency in making member packages attractive. Their actions in prioritizing members have been successful as we see that members are continually signing up. Therefore, membership is encouraged to be sustained. However, we see that sales also increase significantly over the years, almost 3 times over. Therefore, we can conclude that despite having less marketing activities, Costco is able to attract customers by emphasizing on price efficiency. Their working capital ration (current assets minus current liabilities) is kept at a low level due to high inventory turnover. Competitive Advantage over Competitors A key competitive advantage owned by Costco over its competitors is, without a doubt, their low prices. Although they do not invest much in store layout, store ambiance, labor and marketing, they have low overhead costs which contributes to being able to keep prices low. Also, they offer a wide array of product categories from food products to gasoline, although within a product category, they offer less brands than usual retailers (Llopis, 2011). Strategic Weaknesses in Comparison to Competitors The fact that Costco carries only 3600 selections of merchandises could potentially be a major flaw in their strategy. Generally, other stores carry over 10.000 selections. Customers may initially feel the thrill of shopping at cheap prices at Costco but could eventually dislike the lack of choices in terms of brands and may choose to shop at stores with larger varieties. Secondly, Costco spend less for advertisements and rely on word-of-mouth and certain campaigns. However, their competitors, Sam’s Club and BJ’s Wholesale Club spend much more on advertisements. Presently, Costco’s financial conditions show steady results in sales but the power of marketing is such that customers may choose to shop elsewhere for various reasons. It is also important to note that customers’ switching costs (from Costco to another) is relatively low. Compensations Policies Costco offers attractive compensations as compared to their competitors. The employee benefits covers all aspects such as fixed wages, health benefits, medicinal discounts, eligibility for company profits, counseling services and many more. At a quick glance, we notice that Costco spends much on compensation, despite the comparatively lower amount of labor, due to the vast varieties of compensations. In my opinion, it shows good corporate culture to take care of employees. In most companies, CEOs are the first ones to be rewarded with sky-high numbers. It is different in the case with Costco, where CEOs are paid enough without failing to reward employees appropriately. Conclusions and Recommendations Although from a management and operation point of view, Costco is doing everything to a tee, there are several recommendations provided to further improve its performance: Increase product lines to above 3600 in order to compete in terms of product choice with their competitors, especially after understanding that customers’ switching costs are low. Costco already has a big advantage in terms of prices and can do wonders when they also hold product advantage. Prepare some funds for marketing. Branding and brand awareness are two of the most important factors for warehouses to remain sustainable in the market to be seen as reliant. With more marketing, Costco can retain top-of-mind positioning as the â€Å"place to shop† in customers’ mindsets. Maintain membership fees at a fair rate. Currently, Costco’s membership fees are higher compared to their competitors. They can maintain their fees at this level only if they can provide more attractive member benefits to their customers compared to their competitors. Reference: Llopis, G. (2011, January 31). The Costco Factor: To Win The Business Game, You Need to Change How You Think. Retrieved February 20, 2015, from Forbes: http://www.forbes.com/sites/glennllopis/2011/01/31/the-costco-factor-to-win-the-business-game-you-need-to-change-how-you-think/

Theories of Leadership Coursework Example | Topics and Well Written Essays - 250 words

Theories of Leadership - Coursework Example It thus assumes presence of a set of observable actions that promote leadership. This theory also considers modification of behavior due to either reward or punishment. Both approaches emphasize that a leader must exhibit certain actions in any given action. According to Judge et al. (2002), behavioral is part of trait because it holds that leaders have common personality attributes that cause them to behave in a certain way, however deviates in that all individuals have potential for leadership. According to Daft (2007), trait approach of leadership holds that a leader is born and thus the attributes elicited are inherent whereas according to behavioral approach a leader can be trained to exhibit the actions that demonstrate leadership. Behavioral thus holds out that anyone can be developed to a leader with the proper environment; however, trait theory holds that leadership is determined at birth. The behavioral approach is a complimentary to the trait theory as it seeks to combine the innate with the consequent actions exhibited. Every individual is endowed with leadership potential and with conducive environment the ultimate leadership capacity can be

THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK Dissertation

THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK (FRONT DESK STAFF) - Dissertation Example Employee satisfaction is absolutely necessary among front desk staff especially those working in investment banks or other sales related companies as they represent an organization and bring in a greater portion of the revenue. The purpose of this study is to measure the employee satisfaction levels among Lloyds TSB front desk staff, one of the leading banks of UK. A questionnaire based survey was conducted and it was found that although the pay package and benefits provided by the bank were quite attractive, employee satisfaction was average among the Lloyds TSB front desk staff. An analysis of the questionnaire using popular satisfaction/motivation theories revealed that along with money other factors such as communication with the employees, respect and recognition and appreciation are also important. It was found that hard HRM is mostly practiced in Lloyds Bank TSB branches and hence it is recommended that a blend of both hard and soft HRM should be applied in order to improve th e employee satisfaction levels. ... ies 15 2.3 Maslow’s Theory 16 2.4 Herzberg’s Two Factor Theory 18 2.5 Alderfer’s ERG Theory 19 2.5.1 Using Alderfer’s ERG Theory at Workplace 20 2.6 Vroom’s Theory of Expectancy 20 2.6.1 Applying Vroom’s Expectancy Theory in an Organization 21 2.7 Locke’s Path Goal Theory 21 2.8 Studies on Employee Satisfaction 22 2.9 Theoretical Framework 24 3.RESEARCH METHODOLOGY 26 3.1 Research Philosophies 26 3.2 Research Design 27 3.3 Data Sources 28 3.4 Data Collection Tools 28 3.5 Sampling Strategy and Sample Size 29 3.6 Data Analysis 31 3.7 Validity and Reliability Concerns 32 3.8 Ethical Considerations 33 4.FINDINGS 34 4.1 Section A: Demographics 34 4.2 Section B: Human Resource Policies 37 4.3 Section C: Job satisfaction at Lloyd’s bank 43 4.4 Section D: Employee Training and Development Practices 48 4.5 Section E: Performance and Evaluation 48 4.6 Section F: Compensation 49 4.7 Section G: Employee Retention 51 4.8 Section H: Employee Commitment 52 5.DISCUSSION AND ANALYSIS 54 5.1 Analysis 56 6.CONCLUSION 59 6.1 Recommendations 61 6.2 Revisiting Aims and Objectives 62 6.3 Research Limitations and Future Research Scope 63 References 64 Appendix- I 73 THE LEVEL OF EMPLOYEE SATISFACTION AND COMMITMENT AT LLOYDS TSB BANK (FRONT DESK STAFF) 1. INTRODUCTION Employee satisfaction is commonly defined as the measure of how happy and content an employee is with his/her job and working environment (Kennet & Salini 2011). It has been observed that at times even though the package offered to the employee is good, the employees become discouraged and resign from their jobs. Certain factors like limited growth opportunity, lack of appreciation and recognition, high job stress and even lack of communication within the organization discourage and frustrate an employee. The

Current Event Paper Assignment Example | Topics and Well Written Essays - 250 words - 20

Current Event Paper - Assignment Example However, the inventory levels should be kept at minimum while resources are efficiently utilized. Addition, a liquid spices manufacturing company, is preparing for the eggnog season. Matt Hemeyer, the company’s sales director, plans for an increase in production capacity for the company. The current production stands at seven hundred and fifty bottles of the liquid spices a month. The proposed increase in production capacity is set to increase the number of bottles produced to seven thousand five hundred bottles a month, for three months (October, November, and December). Labor is the main input that the company requires for the holiday season. Mr. Hemeyer estimates the labor force to increase by two additional workers for production purposes, in October. In addition, he requires three workers for production and shipping in November and one worker for shipping purposes in December. The sales director plans for material requirements planning by investing the company’s reserves ($10,000) in production equipment. The equipment will aim at automating the production com ponents to achieve the proposed production capacity. The article indicates all the benefits of material requirements planning. The main objective of MRP is to achieve a balance between demand and supply. Mr. Hemeyer explains that he would not want to run out of inventory as it would ruin the company’s reputation. In addition, he is aware of the holiday season and intends to increase the production capacity of his company; in an attempt to balance the demand and supply of liquid spices. The article illustrates how the company will allocate the production time; that is, the quantity of the liquid spices that will be distributed over the three months. Conclusively, it generates information about the quantities of units to be produced and the capacity requirements for

Financial Analysis As The Stability Of The Business Essay

Financial Analysis As The Stability Of The Business - Essay Example One of the primary roles played by budgeting is that it helps in maintaining adequate control over the expenditures incurred by the firm. Budgets suitable provide a plan for the organization in respect of future expenses. Budgets help to set standards of performance. The actual performance of a firm can be measured against the budgeted performance. This helps the organization to easily realize its deviation from the set goals and accordingly take steps for correcting the same. Budgeting is done on the basis of forecasting future transactions. This helps an organization to forecast future scenario and anticipate events that may affect the firm's operations. In most organizations, budgets play an important role in decision-making and planning for the coming financial period. On the basis of the forecasted budgets, management is required to decide upon strategies relating to achieving the set targets, reducing costs and maximizing profits. In Section A, ratio analysis of Nene PLC presen ted that the company was a sound and profit-making concern that had to focus more on improving its operational efficiency in order to gain higher profits. In Section B, Project Meeney was ascertained to be the most viable project because it provided Millennium PLC with highest NPV and with the lowest Payback Period. Section C found that the global financial crisis was caused by a mix of financial and governmental failures. The discussion on budgeting presented clear views about the advantages and disadvantages of having budgets in companies.

Unit 5 Science Individual Project Essay Example | Topics and Well Written Essays - 500 words

Unit 5 Science Individual Project - Essay Example It is a well known and reported fact that the current population of the world is more than six billion and a half billion and it is only increasing on a daily basis (CIA, 2007). This increase is certainly putting a strain on our food resources, availability of fresh water, distribution of energy resources, health services, education services and many other problems that are being faced by developing nations (BBC, 1999). Sadly, the situation is also worst in developing nations while many developed nations may have to face the problem of falling population rates, a growing number of elderly and not enough people in the workforce (King & Elliott, 1996). Of course there must be something that can be done about it and the United Nations itself has made many different recommendations to developing countries to help them achieve some level of control over their growing populations. However, it does appear that we are fighting a losing battle since the population of the world is still increasing and it is showing little signs of stabilization. In fact, at our present rate of expansion the population of the world has been estimated to rise to eleven billion humans by the end of this century (BBC, 1999). This is clearly unacceptable since we do not have the present technology nor the availability of resources to feed even the present population and a rise of almost hundred percent could only reduce our ability to handle the situation. If we do not control population increases and also do not drastically work towards providing an acceptable standard of life for the rest of the world we are simply heading towards disaster and conflict between the haves and the have-nots. The highest recommendation which can be made is to create awareness and educate people about the population situation. The UN is already working towards establishing programs for

Community vs. Cheers Essay Example | Topics and Well Written Essays - 750 words

Community vs. Cheers - Essay Example It featured a cast of mostly blue-collar characters who spent all their time hanging out together in a bar called Cheers. A more recent addition to the Thursday lineup is Community. It also features an ensemble cast of friends: A group of students at Greendale Community College. On the surface, these shows seem very similar. However, the styles of the two shows are actually quite different. Cheers was a traditional sitcom that followed the old rules for TV comedies, while Community is perhaps one of the most ground-breaking shows ever to air. The two shows do have some striking similarities. The apparent lead characters seem very similar at first glance. Cheers has Sam Malone, the former baseball player who owns Cheers. Sam is a little sleazy and an unrepentant womanizer, but he is a good man at heart. Community has Jeff Winger, the even sleazier former lawyer who has to attend a community college after he is exposed as having a fake degree. Like Sam, Jeff becomes the leader everyone depends on. Cheers has Diane Chambers, the prissy, self-righteous blonde whom Sam hires on the first episode as a waitress because he wants to sleep with her. Community has Britta, another self-righteous blonde who is nearly as prissy as Diane. Like Cheers, Community begins with the â€Å"alpha male† character trying to sleep with the blonde. Each of the two shows has a naà ¯ve, â€Å"dumb† character: Community’s Troy corresponds to Cheers’s Coach and his replacement, Woody.... Both use a mixture of long-running plotlines and episodic plots. Yet these shows have more differences than similarities. Cheers is filmed like a play in front of an audience with the three-camera format that has long been standard for sitcoms. Community is filmed in the modern style like a movie, in a single-camera format without an audience or laugh track. Filming style is not what makes the shows so different from one another, however. Community is best known for the clever way it â€Å"breaks the fourth wall,† the invisible wall through which the audience views the characters as their stories unfold. Traditionally, sitcom characters are supposed to go about their lives as if they are real people, unaware that they are fictional and being watched by the audience. This is the way that Cheers works, and this is the way things have always been done on television up until recent years. On Community, the characters verge on being self-aware, communicating to the audience with a wink and a nod that they know it’s not real, yet they still come across as loveable and believable characters. Despite the apparent standard â€Å"handsome white man as leader† and â€Å"beautiful blonde as love interest† cliche, over time the viewer begins to see that the key characters on Community are not Jeff and Britta. The most important character is Abed Nadir, a young Arab-American with Asperger’s syndrome, a type of autism. Abed is fixated on movies and television, and he sees his life as fictional plot. Each episode parodies a particular movie or genre of movies, but in a much more clever and subtle way than other TV shows have done before. Abed interprets everything that happens around

With reference to relevant academic and trade sources, explain the Essay

With reference to relevant academic and trade sources, explain the provision of your topic within your chosen destination and suggest how it may develop in the future - Essay Example ilm induced tourism is not new, it is just that it wasnt predicted in the beginning, the movie business was supposed to be about arts and not financial gains for the tourism industry. However it has changed the overall film production business. There is sufficient evidence present that shows by portraying a place in an attractive fashion tourists and visitors would flock to that place. They might have heard about the place before, but seeing it in a movie and especially in the context of the plot, it leaves a unique impact on the audience. This is a form of subliminal advertisement. Since 1935, movies have changed how they impact the audiences. Mutiny on the Bounty (1935) was the first movie that attracted huge number of visitors to the location of the shooting (Roesch, 2009, p. 8), and Tahini turned into a major tourist location only because the film was shot there. By the filming of great masterpieces such as Lawrence of Arabia (1962), Bridge on the River Kwai (1958) and The Sound of Music (1965), their respective locations have turned them into Makkah for tourists. The great upsurge in tourist influx because of Hollywood movies did not come until the release of the blockbuster Jaws (1975). This movie proved that movies can be a marketable commodity, an attraction to lure tourists in to visit the locations shown in the movie. The era of the 70s is also marked by the expansion seen in the Hollywood world by the emergence of production companies like the Walt Disney, Time Warner, and Bertelsmann. These production giants were not only confined to making movies, they started investing in theme parks and other tourist attractions. They realized how the success of the movie can contribute to business of tourism. Suddenly the movies were not only about film production, many factors started going into the production and the eventual outcome of the movie. For instance a movie might not do very good on the box office (the movie Godzilla is an excellent example of this)

Football Essay Essay Example for Free

Football Essay Essay Football is a complex sport with many specifications, and although millions of people watch football, not all of them understand what is truly â€Å"behind the scenes† of each game. When thinking of a football game normally the different teams come to mind or a particular athlete stands out, but football is much more than that. There are more people than just the athletes that are involved with a football game, including the coaches of the teams, referees who call the shots, trainers who build up the athletes’ skill levels, and last the fans who support the teams. Each player is equipped with a type of â€Å"armor† they must wear to protect themselves. The rules of the game can be hard to comprehend until you become physically involved in a football match, but reading the rules may give a decent understanding of how football is played. Although football may be one of the most highly watched sports, there is more to the game than just the flashy jerseys and the bulky player. Who makes up a football team? There are exactly eleven players to a team. Each athlete has a designated position to participate in. Football does not just consist of the players in the game, but also the coaches, referees, the trainers and every single die-hard fan. Coaches assist the athletes in giving them adequate plays to score touchdowns; they push each athlete to their breaking point, because they know that each of them is capable of so much more. Even sometimes coaches are mentors to the rookie athletes, who later on become legends in football. Referees are there to make sure all of the rules are followed and to call out penalties when one of the rules has been broken. Theses game officials, the men on the field we all love to hate, but without these keepers of the rules, a football game could not progress with any sort of structure or sanity. Die-hard fans of football; watch, eat, sleep and live football as a religion, has a designated team or teams that they support and encourage. Fans are a ginormous part of the support the athletes receive. Football Trainers provide the athletes with the experience to preform adequately, medical assistance when injured and the rehabilitation to create star athletes. The over-all support from the individuals’ assistance constructs an athlete. Aside from the people involved in football, it is all too easy to mistakenly think of football as a game of athletics, and nothing more. Football actually encompasses a challenging mental game, paired with strategy and athleticism in order to secure a win. Before you head out to the field, preparing with and without your equipment will help you gear up for a more successful game. Athletes are protected with a type of armor. Football is classified as a contact sport, but it has been more accurately described as a collision sport. Consisting of; shoulder pads, helmet, face mask, chin strap, mouth guard, leg pads and cleats. Every article helps protect the athlete from getting injured. Shoulder pads are one of the most important pieces of equipment, because they allow you to tackle, block and run the football with a reduced risk for injury. As for the helmet attached with a chinstrap and facemask, it is made of hard plastic with foam pads inside to protect the head. Players are not supposed to hit opponents in the head, but the helmet is necessary because players often take shots to the head because the game is played at such a fast pace and players get hit in the head unintentionally. Mouth guards that the players wear can help prevent dental damage, and thigh pads are designed to protect the thigh or quadriceps area on the front of the upper leg, which help players who are frequently tackled and also hip pads are worn as part of a girdle under the pants or they can be attached to the pants with a belt. Linemen often prefer high-top cleats, to give them extra support and stability, while high performance players, such as wide receivers, running backs and defensive backs, will often wear low-cut cleats that are lightweight and allow for more maneuverability. All of this equipment is essential to how football is played. A game starts with the kickoff, the ball is placed on a kicking tee at the defenses thirty-yard line, and a placekicker kicks the ball to the offense. A kick returned to a man from the offense, tries to catch the ball and advance it by running to where he is positioned at the point from when the offense will begin its drive, or series of offensive plays. When a kickoff is caught in the offenses own end zone, the kick returner can either run the ball out of the end zone, or kneel in the end zone to signal a touchback as a sign to stop the play. The ball is then placed on the 20-yard line, where the offense begins play, a play begins with the snap, at the line of scrimmage, where the play begins, and the quarterback loudly calls out a play in code and the player in front of him. The center passes or snaps the ball under his legs to the quarterback, from there the quarterback can throw the ball, hand it off, or run with it, or the quarterback can sometimes the ball to confuse the defense, anyone on the offensive team is allowed to pass the ball as long as the pass is thrown from behind the line of scrimmage. A pass is complete if the ball is caught by another offensive player, usually the wide receiver or tight end, but if the ball hits the ground before someone catches it, it is called an incomplete pass. The defense prevents the offense from advancing the ball by bringing the ball carrier to the ground. A player is tackled when one or both of his knees touch the ground, then play is then over and also ends when a player runs out of bounds. All progress in a football game is measured in yards, the offensive team tries to get as much yardage as it can to try and move closer to the opponents end zone. Each time the offense gets the ball, it has four downs, or chances, in which to gain ten yards. If the offensive team successfully moves the ball ten or more yards, it earns a first down, and another set of four downs. If the offense fails to gain ten yards, it loses possession of the ball, as the defense tries to prevent the offense not only from scoring, but also from gaining the 10 yards needed for a first down. If the offense reaches fourth down, it usually punts the ball or kicks it away. This forces the other team to begin its drive further down the field, but if the offense cannot score a touchdown, they may try to kick a field goal. Football is a very complicated sport with many simple, but important aspects. For most people who enjoy football, they cannot wait until football season starts. The players on the field are told what to do by the coaches, who call different plays, while performing those plays the athletes use the skills obtained from their trainers. Football is a game of strength, ability, and toughness, for it is a very physical and mentally tough gridiron sport. Wearing the protective gear helps these athletes prevent major injuries during the game. Each piece of equipment provides protection to certain parts of the athlete’s body. The rules of football can be complex to understand right away, but become more easier to comprehend once physically engaged in a game.

Commercial Risk in International Business

Commercial Risk in International Business What is International business ? International business is a term used to collectively describe all commercial transactions (private and governmental, sales, investments, logistics, and transportation) that take place between two or more nations. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons. A multinational enterprise (MNE) is a company that has a worldwide approach to markets and production or one with operations in more than a country. An MNE is often called multinational corporation (MNC) or transnational company (TCN). Well known MNCs include fast food companies such as McDonalds and Yum Brands, vehicle manufacturers such as General Motors, Ford Motor Company and Toyota, consumer electronics companies like Samsung, LG and Sony, and energy companies such as ExxonMobil, Shell and BP. Most of the largest corporations operate in multiple national markets. Areas of study within this topic include differences in legal systems, political systems, economic policy, language, accounting standards, labor standards, living standards, environmental standards, local culture, corporate culture, foreign exchange market, tariffs, import and export regulations, trade agreements, climate, education and many more topics. Each of these factors requires significant changes in how individual business units operate from one country to the next. The conduct of international operations depends on companies objectives and the means with which they carry them out. The operations affect and are affected by the physical and societal factors and the competitive environment. Objectives of International Business: sales expansion, resource acquisition, risk minimization. What are Risk In International Business ? Companies doing business across international borders face many of the same risks as would normally be evident in strictly domestic transactions. For example, * Buyer insolvency (purchaser cannot pay); * Non-acceptance (buyer rejects goods as different from the agreed upon specifications); * Credit risk (allowing the buyer to take possession of goods prior to payment); * Regulatory risk (e.g., a change in rules that prevents the transaction); * Intervention (governmental action to prevent a transaction being completed); * Political risk (change in leadership interfering with transactions or prices); and * War and Acts of God. * The risks that exist in international trade can be divided into two major groups: Economic risks . Risk of insolvency of the buyer, . Risk of protracted default the failure of the buyer to pay the amount due within six months after the due date . Risk of non acceptance . Surrendering economic sovereignty * Political risks . Risk of cancellation or non renewal of export or import licences . War risks . Risk of expropriation or confiscation of the importers company . Risk of the imposition of an import ban after the shipment of the goods . Transfer risk imposition of exchange controls by the importers country or foreign currency shortages . Surrendering political sovereignty  · Exchange rates * Price for which the currency of a country can be exchanged for another countrys currency. Factors that influence exchange rate include (1) interest rates, (2) inflation rate, (3) trade balance, (4) political stability, (5) internal harmony, (6) high degree of transparency in the conduct of leaders and administrators, (7) general state of economy, and (8) quality of governance. Risks in international trade can be divided under several types, such as: Economic risks: * Risk of concession in economic control * Risk of insolvency of the buyer * Risk of non-acceptance * Risk of protracted default i.e. the failure of the buyer to pay off the due amount after six months of the due date * Risk of Exchange rate * Political risks: * Risk of non- renewal of import and exports licenses * Risks due to war * Risk of the imposition of an import ban after the delivery of the goods * Surrendering of political sovereignty Buyer Country risks * Changes in the policies of the government * Exchange control regulations * Lack of foreign currency * Trade embargoes Commercial risk: * A banks lack of ability to honor its responsibilities * A buyers failure pertaining to payment due to financial limitations * A sellers inability to provide the required quantity or quality of goods Others Risks : * Cultural differences e.g., some cultures consider the payment of an incentive to help trading is absolutely lawful * Lack of knowledge of overseas markets * Language barriers * Inclination to corrupt business associates * Legal protection for breach of contract or non-payment is low * Effects of unpredictable business environment and fluctuating exchange rates * Sovereign risk the ability of the government of a country to pay off its debts * Natural risk due to the various kinds natural catastrophes, which cannot be controlled There are many other risks which are the following. (1) Strategic Risk (2) Operational Risk (3) Political Risk (4) Country Risk (5) Technological Risk (6) Environmental Risk (7) Economic Risk (8) Financial Risk (9) Terrorism Risk Strategic Risk: The ability of a firm to make a strategic decision in order to respond to the forces that are a source of risk. These forces also impact the competiveness of a firm. Porter defines them as: threat of new entrants in the industry, threat of substitute goods and services, intensity of competition within the industry, bargaining power of suppliers, and bargaining power of consumers. Operational Risk: This is caused by the assets and financial capital that aid in the day-to-day business operations. The breakdown of machineries, supply and demand of the resources and products, shortfall of the goods and services, lack of perfect logistic and inventory will lead to inefficiency of production. By controlling costs, unnecessary waste will be reduced, and the process improvement may enhance the lead-time, reduce variance and contribute to efficiency in globalization. Political Risk: The political actions and instability may make it difficult for companies to operate efficiently in these countries due to negative publicity and impact created by individuals in the top government. A firm cannot effectively operate to its full capacity in order to maximize profit in such an unstable countrys political turbulence. A new and hostile government may replace the friendly one, and hence expropriate foreign assets. Country Risk: The culture or the instability of a country may create risks that may make it difficult for multinational companies to operate safely, effectively, and efficiently. Some of the country risks come from the governments policies, economic conditions, security factors, and political conditions. Solving one of these problems without all of the problems (aggregate) together will not be enough in mitigating the country risk. Technological Risk: Lack of security in electronic transactions, the cost of developing new technology, and the fact that these new technology may fail, and when all of these are coupled with the outdated existing technology, the result may create a dangerous effect in doing business in the international arena. Environmental Risk: Air, water, and environmental pollution may affect the health of the citizens, and lead to public outcry of the citizens. These problems may also lead to damaging the reputation of the companies that do business in that area. Economic Risk: This comes from the inability of a country to meet its financial obligations. The changing of foreign-investment or/and domestic fiscal or monetary policies. The effect of exchange-rate and interest rate make it difficult to conduct international business. Financial Risk: This area is affected by the currency exchange rate, government flexibility in allowing the firms to repatriate profits or funds outside the country. The devaluation and inflation will also impact the firms ability to operate at an efficient capacity and still be stable. Most countries make it difficult for foreign firms to repatriate funds thus forcing these firms to invest its funds at a less optimal level. Sometimes, firms assets are confiscated and that contributes to financial losses. Terrorism Risk: These are attacks that may stem from lack of hope; confidence; differences in culture and religious philosophy, and/or merely hate of companies by citizens of host countries. It leads to potential hostile attitudes, sabotage of foreign companies and/or kidnapping of the employers and employees. Such frustrating situations make it difficult to operate in these countries. CASES * October 2006 International Risk North Korea Future Implications International Risk has drawn up a report which explores the strategic thinking of the North Korean regime and their logic for conducting nuclear tests. The report outlines the likely future implications for Asia. * September 2005 International Risk Assessment: INDIA BUSINESS RISK OPPORTUNITIES India continues to establish itself as an emerging global force attracting increasing foreign direct investment. In response to the ever changing business climate, companies need to develop strategies to increase competitiveness and improve profitability. When expanding into new and developing markets, there are various elements that help make the endeavour successful as well as risks which can lead to severe disappointment. With India being touted as the new market and global player, it is critical that companies understand and appreciate both the opportunities and challenges faced by foreign investors. In short, provided companies take appropriate action to, India works. It represents a huge opportunity for the investor who has the appetite for detail, is patient and looks to the long term. International Risk, the premier international risk mitigation and investigation company, provides a strategic assessment on the risks and opportunities for foreign investors entering this exciting market. * May 2005 International Risk Macau Strategic Risk Assessment In the five years since its return to Chinese sovereignty, the former Portuguese colony of Macau has witnessed unprecedented economic growth, driven by huge investment inflows into its gaming and tourist industries and an explosion in visitor arrivals, particularly from the mainland. Whilst there are positive indications as to Macau continuing its growth as a regional gaming centre, much like its new role model Las Vegas, there are nevertheless uncertainties and risks arising from its chequered past as much as from its future under Beijings current benevolent oversight. Understanding these factors is crucial if foreign investors are to mitigate this risk. International Risk, the premier international risk mitigation and investigation company has developed a strategic review of the challenges facing Macau, the opportunities it presents investors, and the risks they could encounter. International Risk has considerable experience in discreetly assisting foreign investors who seek to enter this colorful, yet exciting environment. * April 2005 International Risk Report on China-Japan  § Political and strategic frictions between China and Japan have been growing over the past few years because of deep-seated historical distrust and an accelerating rivalry for regional power and influence between the two countries. But these tensions were previously contained and offset by close economic ties and the sharing of many issues of mutual interest, such as concerns over the rise of a nuclear North Korea.  § This calm in China-Japan relations has been damaged by a perfect storm of controversies that has unleashed pent-up passions among Chinese city-dwellers across the country. The history text-book issue over Japans war-time activity in China, Japans bid for a permanent UN Security Council seat and Tokyos decision to allocate drilling rights in disputed territorial waters are all highly charged emotional issues that strike at the very heart of Chinese popular nationalism.  § While these controversies have propelled Chinese onto the streets in their thousands, the Chinese leaderships decision to allow these anti-Japanese protests to take place is driven by deeper structural issues that suggest China-Japan ties are likely to remain volatile in the longer term. Managing the Risks of International Trade This guide provides information that will help you to put procedures in place to minimise the risks involved in international trade. You should read it if you are responsible for planning and delivering the export strategy in your company. You should make sure that the information in this briefing is read by your sales and marketing force, your finance management team, your credit manager and the sales ledger controller. What types of risks will I have to manage? Customer Risk You will need an assessment of the credit worthiness of your customer. This should include checking the following: à ¢Ã¢â€š ¬Ã‚ ¢ The identity of your customer. Do they exist as a legally established business in the country of import? Are you dealing with someone who has the authority to bind your customer; à ¢Ã¢â€š ¬Ã‚ ¢ The usual period of credit offered in your customers country; à ¢Ã¢â€š ¬Ã‚ ¢ The credit limit you are prepared to offer your customer; à ¢Ã¢â€š ¬Ã‚ ¢ The trading history of your customer. Are they a prompt payer? Have there been any changes to their normal payment patterns? à ¢Ã¢â€š ¬Ã‚ ¢ Are your exports compatible with your customers normal business profile? à ¢Ã¢â€š ¬Ã‚ ¢ Can your customer pay the bill? à ¢Ã¢â€š ¬Ã‚ ¢ Insolvency. Remember that a customers insolvency can involve you in a pre credit risk, where losses can occur if your customer becomes insolvent during the manufacturing process or at any time before or after the despatch of the export consignment. You can obtain the information needed to carry out these checks either yourself or through a reputable credit agency or credit insurer. Country Risk As well as your customer, their country can pose separate risks that you will need to manage. Country risks traditionally fall into five areas: à ¢Ã¢â€š ¬Ã‚ ¢ Sovereign: The willingness or ability of the government to pay its debts. This is affected by the political climate within the country, internal and external threats to the country; international trading performance including balance of payments record; the level of national debt and the amount of foreign exchange reserves. Other political decisions can also frustrate your export sales; these include the imposition of embargoes, tariff or other quotas, and import or export restrictions. à ¢Ã¢â€š ¬Ã‚ ¢ Private: The ability of the private sector to pay for its imports. This situation is affected by the 2 SITPRO Management Guide: Managing the Risks of International Trade state of the domestic economy, the commercial institutions in the country, and the competence of banking and financial services sector. à ¢Ã¢â€š ¬Ã‚ ¢ Natural: Some regions of the world suffer from regular climactic catastrophes (for example annual flooding, drought, earthquakes and other disasters). When these occur they can severely disrupt the operations of both the business sector and the government. à ¢Ã¢â€š ¬Ã‚ ¢ Fashion and Finance: International trading patterns often create a fashionable region or country as an export market. In these circumstances trade finance is often readily available, allowing you to offer good credit terms to your export customers. However, fashions change and countries can quickly go out of favour for both exports and trade finance. à ¢Ã¢â€š ¬Ã‚ ¢ Other: These include transfer risks such as the inconvertibility of the local currency; transaction risks such as late or non-payment, and transition risks for emerging markets where the threats are the effectiveness of the liberalisation programme, failure to complete economic structural reforms and any possible destabilising influences. You can obtain information about country risks by visiting the country and/or by speaking to other knowledgeable organisations such as UK Trade Investment, your local chamber of commerce or one of the major banks. Credit Risk Perhaps the first question you should ask is Can I afford to give my customers credit? To decide how much credit you are prepared to advance you must consider: à ¢Ã¢â€š ¬Ã‚ ¢ The amount of credit outstanding in your trading accounts, both overseas and domestic; à ¢Ã¢â€š ¬Ã‚ ¢ What do you know about your customer and what is the maximum amount of credit you should NOT exceed; à ¢Ã¢â€š ¬Ã‚ ¢ Can you carry any financial shortfall? What will be the impact on your business if your customer delays payment or does not pay at all? à ¢Ã¢â€š ¬Ã‚ ¢ How will you finance the credit period you offer? This means do you have sufficient money to allow you to offer credit terms in export sales contracts as part of your business cycle. Foreign Exchange Risk When you trade internationally you will most likely be dealing in more than one currency. This means you are exposed to fluctuations in the foreign exchange market. You can learn how to manage this risk by referring SITPROs guide on The Foreign Exchange Market. Other risks If you manufacture goods to order you must include in your export strategy a contingency that will help you manage the risk of a frustrated export this is when your customer refuses the goods. You should have a plan to either resell the product to another market or realise a salvage value for your goods. Managing the Risks of International Trade: You must also have procedures in place for the collection of your invoice amount. Under your contract you may have to collect your money in your customers country. This does have its risks as collection maybe more uncertain or expensive, so you will have to consider the legal system in their country. Your contract may, however, allow you to take legal steps to recover your debt in another country, including your own. How do I manage these risks? You can do the job yourself or employ the services of a comprehensive credit management and insurance provider. If you decide, for sound business reasons, to do the job in house then you must have the resources and knowledge to: à ¢Ã¢â€š ¬Ã‚ ¢ gather credit and other trade information about existing, and potential, customers; à ¢Ã¢â€š ¬Ã‚ ¢ research the country and associated risks; à ¢Ã¢â€š ¬Ã‚ ¢ examine the need for credit insurance, identify the most appropriate policy and investigate competitive products and services; à ¢Ã¢â€š ¬Ã‚ ¢ manage the credit insurance policy and maximise any benefits If you decide to go down this route, you will have to consider the financial and other impacts on your business. These include senior management ownership of the credit management strategy; The allocation of sufficient time, resource and money to do the job, and a review of your export catalogue prices. You must remember to include the costs of in house risk management and extending credit terms in your export quotes. Otherwise, a profit can soon turn into a loss as administrative costs eat into your bottom line. What types of risk management and insurance services are available? Classically, these are the approaches adopted by the business sector, based on the pattern of trade of the exporter. Type of business à ¢Ã¢â€š ¬Ã‚ ¢ Supplying goods to markets and customers on a regular basis; à ¢Ã¢â€š ¬Ã‚ ¢ A large one-off sales contract; à ¢Ã¢â€š ¬Ã‚ ¢ The supply of capital or semi-capital goods for major overseas projects; à ¢Ã¢â€š ¬Ã‚ ¢ The provision of services such as surveys or feasibility studies; à ¢Ã¢â€š ¬Ã‚ ¢ Smaller or new exporters. Products and services Depending on your type of business, the following products and services are available to you: à ¢Ã¢â€š ¬Ã‚ ¢ A partnership with a Credit Insurer to identify and assess your business prospects and cover the risks on your exports. The service can be tailored to meet your needs, by covering all Managing the Risks of International Trade. Your sales ledger, or just your accounts with larger customers, or by having a geographic limit, or by product line, or indeed in many other ways; à ¢Ã¢â€š ¬Ã‚ ¢ A specific insurance policy structured for a particular deal. Such a policy will take into account any factors unique to the sales contract which is being covered. Specific policies are ideal for contracts whose size or duration fall outside the normal pattern of your trade. Also they are suitable for the sale of capital or semi capital goods on extended credit. Insurance for individual contracts can be obtained from credit insurance companies but the main supplier of this service, particularly for capital goods contracts, is the Export Credits Guarantee Department (ECGD); à ¢Ã¢â€š ¬Ã‚ ¢ Smaller or new exporters can use a Managed Credit Insurance scheme as a way of contracting-out the credit control functions (obtaining country information, checking customer details and credit limits, chasing overdue payments and making claims). The cost of these services are often included in the premium for the scheme. Where do I obtain these services? You can approach specialist credit management and insurance providers, or your insurance adviser (broker, agent or intermediary). A list of credit insurance companies can be obtained from Association of British Insurers. Details of specialist advisers can be obtained from organisations such as the British Insurance Brokers Association. With their worldwide networks credit insurance companies have years of experience and expertise in analysing and covering the risks involved in international trade. In addition to covering commercial debts and indemnifying you if your customer fails to pay, they can provide you with guaranteed cover which could improve your cash-flow, provide confidence to maximize your export sales and may enhance your borrowing power. The use of credit insurance imposes on your company a disciplined and professional approach to trade risk management. Adopting this solution can help reduce your bad debts, improve your competitiveness in the global marketplace and increase your profitability. Are there any other options open to me? There are other financial solutions to you credit management risks: à ¢Ã¢â€š ¬Ã‚ ¢ do nothing, and carry the risk yourself. The extent of the risk you are prepared to take will determine if this option is appropriate; à ¢Ã¢â€š ¬Ã‚ ¢ Factoring or invoice discounting; à ¢Ã¢â€š ¬Ã‚ ¢ Forfaiting.; à ¢Ã¢â€š ¬Ã‚ ¢ Secured payment terms (for example, Letters of Credit); à ¢Ã¢â€š ¬Ã‚ ¢ Insurance-backed financial packages. Managing the Risks of International Trade How much will it cost me? Like all insurance cover (premises, employers liability, business interruption) you will have to pay for your risk management and insurance services. Policies based on a specific risk are available and premium is usually on a one-off basis. Premium is calculated according to the specific risk in question, credit period offered, your customers country and the duration of the risk from the insurers perspective. There are also credit insurance policies and managed schemes that will cover all of your export turnover. Premium is usually annual and assessed against your estimated insurable turnover (the sales on credit covered). With your credit insurer you will have to agree your target export turnover for any one year. Typically, you can expect to pay between 0.35% and 0.65% for this type of policy, dependent on your products, the number of customers and range of your export markets, your export trading experience, and your own credit management system. As with all insurance cover, you should spend time researching the market and getting quotes from a range of credit insurance providers. The costs quoted are based on typical policies available for small or new exporters wishing to cover sales with fairly short delivery and payment profiles. Costs will rise for specific policies where the horizon of risk for the insurer might be 2 or 3 years as in the case of ECGD cover for capital goods projects. Conclusion Credit insurance is an important risk management tool to help you protect the payment of your overseas accounts and unlock the full potential of your export business. You should carefully consider including it in your global trading strategy. What are the major risks for business? 1. Political risk 2. Economic risk 3. Financial risk What is the risk in the following Countries..? INDIA : In India or country risk tier (CRT) is categories in three types of risks. Political, economical financial risks. * Poverty reduction in India is heavily reliant upon high levels of economic growth, which is likely to return in 2010/11. Political Risk: High à ¢Ã¢â€š ¬Ã‚ ¢ Income disparity in India is significant, as approximately one third of the population lives in poverty. à ¢Ã¢â€š ¬Ã‚ ¢ National security has become a focus in India as some of the major cities have been the scene of terrorist bombings. à ¢Ã¢â€š ¬Ã‚ ¢ The bilateral relationship with Pakistan is strained, and receives worldwide attention. Efforts in recent years to make reparations have been interrupted repeatedly by acts of violence. Financial System Risk: Moderate à ¢Ã¢â€š ¬Ã‚ ¢ The insurance industry is regulated by the Insurance Regulatory and Development Authority (IRDA). à ¢Ã¢â€š ¬Ã‚ ¢ The Indian government is working to align its regulatory and accounting standards with international best practices. à ¢Ã¢â€š ¬Ã‚ ¢ The Indian financial system has fared relatively well during the global financial crisis. Economic Risk: Moderate à ¢Ã¢â€š ¬Ã‚ ¢ India, with a massive population exceeding one billion, is home to the worlds 12th largest economy as measured by gross domestic product (GDP). à ¢Ã¢â€š ¬Ã‚ ¢ Indias information technology sector and business services sector have been drivers of growth as the government has supported development with improvements in infrastructure and regulation. à ¢Ã¢â€š ¬Ã‚ ¢ A notable point of weakness for the Indian economy is the worsening government budget balance. The deficit will likely reach -7.0% of GDP in 2008/09. CANADA: Economic Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ Canadas economy is developed, with services and manufacturing accounting for the majority of the countrys output. à ¢Ã¢â€š ¬Ã‚ ¢ International trade is vital to the economy as exports represent about 40% of GDP with nearly 80% of those exports going to the United States. à ¢Ã¢â€š ¬Ã‚ ¢ Economic growth in Canada began to contract in the fourth quarter of 2008 and will continue to contract until 2010. Political Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ Canada is a high income country with significant natural resources and an established legal system. à ¢Ã¢â€š ¬Ã‚ ¢ Canadas economy is inexorably linked to that of the United States due to the latter countrys geographic proximity, cultural similarities and economic size. à ¢Ã¢â€š ¬Ã‚ ¢ Canadas budget has moved into deficit as the government uses fiscalpolicy to help stimulate the economy. Financial System Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ Insurance companies in Canada can be licensed at a national and/or provincial level. à ¢Ã¢â€š ¬Ã‚ ¢ Federal companies are registered under the Insurance Companies Act of Canada and are regulated by the Office of the Superintendent of Financial Institutions of Canada. USA: Economic Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ The United States economy is the largest and most advanced in the world with gross domestic product (GDP) of more than USD 14 trillion. à ¢Ã¢â€š ¬Ã‚ ¢ The United States has the dual advantage of being rich in natural resources, both agricultural and mineral, but also capable of producing high-end products such as computers and peripherals, medical equipment, pharmaceutical products and military equipment. à ¢Ã¢â€š ¬Ã‚ ¢ The U.S. economy is currently experiencing its worst economic contraction since at least the early 1980s with unemployment expected to reach double digits and GDP reaching negative 3% in 2009. Political Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ The United States has a stable democratic political system and a strong legal system. à ¢Ã¢â€š ¬Ã‚ ¢ The United States is currently involved in armed combat in Iraq and Afghanistan which has put strain on the relationships between the U.S. and much of the international community. à ¢Ã¢â€š ¬Ã‚ ¢ The U.S. is currently using expansionary fiscal policy to stimulate the economy and this has led to a substantial increase in the budget deficit. Financial System Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ Insurance regulation in the United States is decentralized and handled on a state by state basis. à ¢Ã¢â€š ¬Ã‚ ¢ The financial system in the U.S. is going through a tumultuous period with the government intervention with large corporations such as Bear Stearns, Citigroup and AIG. UK: Economic Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ The United Kingdom (UK) has the second largest economy in Europe behind Germany. Service industries represent three quarters of economic production, particularly financial services and real estate activities. London is a global financial center and businesses there account for nearly half of the countrys financial services industry. à ¢Ã¢â€š ¬Ã‚ ¢ The UK economy entered into a recession in the second half of 2008 as the country has been hit hard by the financial crisis and a declining housing market. The economy is not expected to recover until mid to late 2010 at the earliest. Political Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ The United Kingdom is a member of the European Union. However, the United Kingdom, along with Denmark, obtained special opt-outs from the Maastricht Treaty which allows them to not adopt the euro unless they wish. à ¢Ã¢â€š ¬Ã‚ ¢ The UK government has taken steps to counteract the effects of the current financial crisis. These steps include partial nationalization of the banking system and implementing several stimulus packages. Financial System Risk: Very Low à ¢Ã¢â€š ¬Ã‚ ¢ The Financial Services Authority (FSA) regulates the UK financial services industries, including insurance. à ¢Ã¢â€š ¬Ã‚ ¢ The UK is widely seen as a major center for international insurance and reinsurance and is home to the London Market, a wholesale market that writes risk around the world. Lloyds of London accounts for over half of the business on the London Market. JAPAN: Economic Risk: Low à ¢Ã¢â€š ¬Ã‚ ¢ Japan, an industrialized and advanced country, is home to the second largest economy in the world behind that of the United States. à ¢Ã¢â€š ¬Ã‚ ¢ Gross domestic product (GDP) growth, which had been weak over the past 20 years, will fall sharply in 2009 as domestic demand and exports contract. The government is responding to the crisis with aggressive expansionary fiscal policies that should result in a return to modest growth in 2010. à ¢Ã¢â€š ¬Ã‚ ¢ Inflation, however, is expected to remain negative until 2011.

Chaucers Canterbury Tales - Anti-Feminist Beliefs in Millers Tale and

Anti-Feminist Beliefs in The Miller's Tale and The Wife of Bath's Tale    The Miller's Tale and The Wife of Bath's Tale feature two characters that, though they may appear to be different, are actually very similar. They both seem to confirm the anti-feminine beliefs that existed at the time Chaucer wrote his Canterbury Tales. However, they go about it in different ways. Alison, the woman in The Miller's Tale, tries to hide the fact that she has a passion for men other than her husband, and keep her position as an upstanding citizen intact. The Wife of Bath, meanwhile, has no qualms about displaying herself as she really is. She is not ashamed of the fact she has married five times, and is about to marry again. She hides nothing. While Alison differs from the Wife of Bath in appearance and the way she conducts herself in public, inside they are more alike than Alison would probably care to admit. At the beginning of The Miller's Tale, there is a rather lengthy description of Alison's appearance. She looks beautiful from the outside, true, but throughout the description, Chaucer drops little hints that things are not always what they seem. At the very beginning of his description, he compares her body to that of a weasel's ["Fair was this younge wif, and therwithal As any wesele hir body gent and smal." (Miller 103)], and, since a weasel is not one of the more favorable animals to be compared with, he immediately, albeit subtlely, implies that Alison is not as decent as she would have people believe. Chaucer continues in his ostensibly favorable description of Alison, but concludes the paragraph by implying that Alison would have little qualms about sleeping with a man other than her husband ["She was a primerole, a pigge... ...Miller's Tale, it is uncertain whether the Wife of Bath would applaud the fact that Alison got herself out of a jam, or would chide Alison for hiding her true colors. What is certain, though, is that Alison and the Wife of Bath are really two very similar characters. They just have different ways of expressing their similarity.    Works Cited and Consulted Chaucer, Geoffrey. "The Wife of Bath's Prologue and Tale," The Riverside Chaucer. Gen. Ed. Larry D. Benson. Third Edition. Boston: Houghton Mifflin, 1987. 105-22. Evans, Joan. The Flowing Middle Ages. New York: McGraw Hill Book Company, 1966. Hallida, I.E. Chaucer and His World. New York: Viking Press, 1968. Fuller, Maurice. Chaucer and His England. Williamstown: Corner House Publishers, 1976. Williams, David. The Canterbury Tales, A Literary Pilgrimage. Boston: Twayne Publishers, 1987.

Henry James Washington Square :: Henry JamesWashington Square

Henry James'Washington Square Henry James' Washington Square is more than a simple novel with simple characters connected by a simple plot. There are more complex issues brought forth within the text besides a daughter heartbroken over her father's control and the departure of her money grubbing suitor. Yet only the simplistic issues and characterizations are brought forth in the critical article written by Elizabeth Hardwick. Within the pages of "On Washington Square," published in English 3230, Hardwick offers her readers the entire plot, including the ending of James' novel, without shedding new light on the text. She offers little interpretation of the material and only provides readers with the obvious. Hardwick explains the novel in such detail; one could almost use it as a Cliff Notes edition to the book. She uses what is said about Townsend to demonstrate that he wants nothing more than Catherine's money, yet she does not look close enough to realize that he is more complex than the information that the narrator provides ("On Washington Square" 26). The biggest fault in "On Washington Square" is that Hardwick does not recognize that the narrator of Washington Square provides the reader with only the information he wants to, leaving out details that could slant the story. There are several times in the novel when the narrator waffles on his accuracy using phrases like, "It might very well be†¦" in regards to describing Catherine's emotions (James 36). The narrator also leaves out information, which the reader assumes is unimportant, but cannot be sure, for the narrator has already shone that he does not guarantee to know the emotions of the characters, let alone the importance of their actions. For example, during a conversation between Morris and Catherine the narrator cuts off the conversation and states, "This is all that need be recorded of their conversation" (66). These statements and several like them show the narrator to be unreliable, yet Hardwick explains the novel through the narrator's eyes, portraying the inform ation as accurate.

Parking Deck Project Of University ______________ Essay -- essays rese

Parking Deck Project of University   Ã‚  Ã‚  Ã‚  Ã‚  The University of ________________ has been confronted with claims of parking shortages over the past several years. Many of these claims were not supported by any facts or figures that explained the cause of the parking shortages. In fact, some of the claims of insufficient parking were based on students not being able to locate parking spaces in the parking lots adjacent to their first class. Due to recent and projected enrollment increases, there now exist a genuine parking shortage. Therefore, the purpose of this study is to evaluate the current parking, plan for future parking needs, and propose possible locations for increased parking spaces at the University of ____________.   Ã‚  Ã‚  Ã‚  Ã‚  The 1996 enrollment for the University of ______________ is 4,960. The enrollment increased approximately twelve (12) students from the 1995 enrollment. There are currently 2,303 total parking spaces on University property. The University Master Plan recommends one parking space for every 1.8 students. The student enrollment, (divided by) the number of students per parking space, (equals) the number of recommended parking spaces. 1996 Enrollment ........................ 4,960 Students Per Parking Space......... / 1.8 (Divided by) Recommended Parking Spaces... = 2,756 Recommended Parking Spaces.. 2,756 Current Parking Spaces.............. - 2,303 (Minus) Shortage of Parking Spaces...... = 453 The number of Students Per Parking Space ( 1.8 ) is based on a national average of University parking. This formula shows that the University is currently deficient 453 parking spaces.   Ã‚  Ã‚  Ã‚  Ã‚  The existing parking areas are positioned at various locations on the campus of the University. These parking lots vary in size from 6 to 294 spaces. Many of the parking areas are located in the heart of the University. This allows for easy accessibility but it takes away from the aesthetic beauty of the campus. The existing parking areas also cause traffic congestion in their immediate area. The majority of the parking lots are located on streets that have limited access or the exits do not allow for an easy transition into existing streets.   Ã‚  Ã‚  Ã‚  Ã‚  Planning for the future growth of the University of __________________ ... ... campus.   Ã‚  Ã‚  Ã‚  Ã‚  The cost of the parking would be held to a minimum. This is due to the small amount of excavation that would be needed to prepare the site for building. The parking deck would only need a few levels do to its large area. It would also be easy to build the structure so that more level additions would be possible. All of these options give the University the flexibility to build a parking deck that is economically feasible.   Ã‚  Ã‚  Ã‚  Ã‚  This study has reviewed the existing parking facilities and their capabilities at the University. It has also discussed the present and future parking shortages that it is facing. It has attempted to conform to the Master Plan of the University and shown methods to eliminate the parking dilemma. Hopefully all of these ideas can be reviewed and implemented to improve the overall beauty and efficiency of the University of ____________________. BIBLIOGRAPHY University of _____________________ Master Plan. Arcy Thomas J.,1994., The Dimensions of Parking., ULI-the Urban Land Institute. Branch Melville C., 1983., Comprehensive City Planning., American Planning Association.

Ida Jean Orlando Nursing Theory Essay

Ida Jean Orlando, an American of Italian descent was born in 1926. She received her nursing diploma from New York Medical College, Lower Fifth Avenue Hospital, School of Nursing, her BS in nursing from St. John’s University, Brooklyn, NY, and her MA in mental health nursing from Teachers College, Columbia University, New York. Orlando was an Associate Professor at Yale School of Nursing where she was Director of the Graduate Program in Mental Health Psychiatric Nursing. While at Yale she was project investigator of a National Institute of Mental Health grant entitled: Integration of Mental Health Concepts in a Basic Nursing Curriculum. It was from this research that Orlando developed her concept which was published in her 1961 book, The Dynamic Nurse-Patient Relationship. She furthered the development of her theoretical concept when at McLean Hospital in Belmont, MA as Director of a Research Project: Two Systems of Nursing in a Psychiatric Hospital. The results of this research are contained in her 1972 book titled: The Discipline and Teaching of Nursing System. Orlando held various positions in the Boston area, was a board member of Harvard Community Health Plan, and served as both a national and worldwide consultant. She is a frequent lecturer and conducted numerous seminars on nursing mechanisms. Orlando’s theory was developed in the late 1950s from observations she recorded between a nurse and patient. Despite her efforts, she was only able to categorize the records as â€Å"good† or â€Å"bad† nursing. It then dawned on her that both the formulations for â€Å"good† and â€Å"bad† nursing were contained in the records. The role of the nurse is to find out and meet the patient’s immediate need for help. From these observations she formulated the deliberative nursing process. The Metaparadigm Concepts include: Human/Person – An individual in need Health – No restricted definition Society/Environment – No restricted definition Nursing – A distinctive profession â€Å"Providing direct assistance to individuals in whatever setting they are found for he purpose of avoiding, relieving, diminishing, or curing the individual’s sense of helplessness† The patient’s presenting behavior may be a plea for help, however, the help needed may not be what it shows to be. Therefore, nurses need to use their perception, thoughts about the perception, or the feeling engendered from their perceptions to explore with patients the meaning of their behavior. This process helps the nurse find out the nature of the distress and what help the patient requirements. Orlando’s theory remains one the of the most effective practice theories available. The use of her theory helps keeps the nurse’s focus on the patient. The strength of the theory is that it is clear, concise, and easier to use. While providing the overall framework for nursing, the use of her theory does not exclude nurses from making use of other theories while caring for the patient. When using Orlando’s theory, the nurse identifies her own perceptions, thoughts, and feelings about the patient’s behaviors, then confirms them with the patient. She then formulates deliberative nursing actions to meet direct patient needs. As a final step, the nurse verifies whether or not she met the patient’s needs and decreased his distress, and determines if further action is required. The theory merges competent nursing practice and customer satisfaction. A question such as how can one be helped? This clarifies the nurse’s assumptions about patient needs and minimizes resource maltreatment. The nurse concentrates on relieving patient distress. Interventions address the patient’s requirements from the patient’s perspective. Orlando’s patient-focused theory gives nurses a lucid, consistent approach. It’s interpersonal, straightforward, and applicable to both simple and complex situations. Nurses can apply the theory independently or as an entire department. When nurse leaders initiate the theory’s use in their departments, nurses are given a tool to satisfy patients and themselves. This, in turn, satisfies organizational and staff by providing retention goals. Because nurses can use the method even with time, energy, and financial constraints, they can minimize frustration associated with â€Å"doing more with less. † Also, nurses feel rewarded when they can rediscover their unique contribution to patient care-meeting the patient’s immediate needs. Cost-effective interventions like using this theory add value to nursing assistance at a time when it’s difficult to increase time with patients. Nurses can maximize their time, creating â€Å"magic moments† with patients and providing the best intercession. They can meet immediate patient needs, reduce patient distress, and feel empowered and contended. In all, these concepts by Orlando form the basis for providing nurses an opportunity to understand their relationship with their patients in a better way, so as to give patient care a new and whole hearted meaning.

Battle of Raichur

Battle of Raichur :fought by Sri Krishnadevaraya, King of Vijayanagar empire and Ahmed Shah, the king of Bijapur-Was a turning point in the history of south India. Raichur-Indian state of Karnataka. Many battles between the kings of Vijayanagar empire and the muslim kings ruling from Bijapur and Gulbarga. City is located besite the Krishna and Tungabhadra rivers, which provides fertile soil, and water First recorded use of canon, the fort, and matchlock firearms in India-Canons were mounted on ramparts of Raichur, but had not replaced stone throwing catapults. The fort was captured by Bahmanis in 1323Isma‘il ‘Adil Khanhad retreated- his army was forced to abandon 400 heavy cannon and 900 gun carriages. Krishnadevaraya concentrated his attack on the Eastern walls. Governor was killed- shot by a Portugese sniper with a matchbox rifle. – This surpressed the morale or the troops, and they abandoned the wall. When Raichur surrendered, Krishnadevaraya treated the garriso n with kindness and consideration. Krishnadevaraya then returned to Vijayanagar and held a great celebration. The Firishta account is less trustworthy- he wrote about it 90 years after the battle had occurred. ——————————————————————————————————————— The textile industry has always been present in India but with the arrival of the Dutch and English, this part time indistry became a full time industry, with full time textile workers. The Dutch and the English were great trade rivals. The Dutch East India company hold many extensive records regating to textile production, and shipping- as well as commercial agriculture records. The textile industry was present in medieval times, and it's trade, and importance have alw ays been underestimated by historians.Rice quickly became the most commercially traded crop. It was necessary in the feeind of Indias urban population- which was growing. In the early 1600s, cotton began to gain importance. With the importance of cotton, came the importance of indigo- a plant used as a dye. In the 1630's, bad weather, and years with bad storms severely depleted indigo crops. The prices sky-rocketed. These goods, and their trade created extensive trade markets. In 1802, the Dutch created a weaver village. In some cases, parts of India had more that 2 looms per house. Demographic downturns may have led to shift from textiles to commercial agriculture. ur

Comparing Fermentation Rate of the S. Cerevisiae Yeast in the Presence of Mgso4, Naf and Sodium Pyruvate

Syl Rogers Bio 210 Comparing Fermentation Rate of the S. cerevisiae Yeast in the presence of MgSO4, NaF and Sodium Pyruvate Hypothesis In the fermentation of rate of yeast, S. Cerevisiae, there will be a higher/ faster rate of ethanol production, However, using catalytic enzymes would make the rate more faster, and MgSo4 will have a higher rate of CO2 than that of NaF and Sodium pyruvate as it act as a more better catalytic enzyme than the others. Methods Preparation of Tubes A solution of yeast and glucose was prepared with different concentration of enzymes.In All the tubes water, 0. 3M glucose and yeast was placed; with the exception of some tubes in which 0. 2M MgSo4 and 2. 5mL and 1. 4ML 0. 2 NaF was placed respectively. In another tube was placed both MgSO4 and NaF. The different solutions were prepared and placed in separate tubes for the experiment. A 45oC water bath was setup to be used for the fermentation process. Data acquiring The tubes were placed in the water bath. A s top watch was used which aids in determining the reaction time.After Every 15 min, data was collected from all tubes by measuring the amount of CO2 being produced. This process continued for a total of 75min allowing enough time for Fermentation to occur in all tubes. Result For the first 15min, In the tube containing 8. 5mL water and 2. 5mL yeast only, the rate of the reaction was 0mm/min whiles the tube with the glucose has a rate of 233. 864mm/min. This is followed by the tube containing 2. 5mL of MgSo4 which has a rate of 165. 8573mm/min. The tube containing the MgSo4 and NaF has a rate of 69. 5mm/min which is followed by the 1. 24mL NaF tube that has a rate of 40. 63mm/min followed by 2. 5mL NaF tube which has a rate of 31. 08mm/min which was the lowest. After 30minutes, the tube containing only water and yeast has a rate of 0mm/min whiles the tube with the glucose has a rate of 208. 97mm/min. This is followed by the tube containing the MgSo4 which has a rate of 174. 1137mm/min . The tube containing the MgSo4 and NaF increased to a rate of 169. 59mm/min which is followed by the 1. 24mL NaF tube that has a rate of 57. 77mm/min followed by 2. mL NaF tube which has a rate of 35. 08mm/min which was the lowest. After an hour of reaction time, the MgSo4 and NaF tube has increased to a rate of 193. 17mm/min which is followed by the glucose tube with a rate CO2 rate of 176. 52mm/min followed by the MgSO4 Tube with a rate of 171. 73mm/min. The 1. 4mL NaF tube has increased to 61. 68mm/min followed by the 2. 4mL tube which was the lowest with a CO2 rate of 31. 31mm/min. For the final 15min of the experiment, the glucose tube has a rate of 176. 48mm/min followed by the MgSO4 and NaF tube with a rate of 169. 7mm/min. the MgSo4 tube has a rate of 157. 40mm/min which is followed by the 1. 24NaF tube with a rate CO2 rate of 57. 46mm/min followed by the 2. 5mL Tube with a rate of 29. 34mm/min which was the lowest CO2 production rate. Fig 1: Rate of CO2 production in the f ermentation of Glucose by S. cereviae Discussion: The fermentation of glucose by S. cerevisiae, which yields equal molar amounts of carbon dioxide and ethanol, showed higher production levels of carbon dioxideunder controlled conditions than any other implying the same for production of ethanol.Fermentation affected by a magnesium sulfate solution ranked second in carbon dioxideproduction while sodium fluoride yielded the least amount of carbon dioxide. These results suggest that magnesium has a positive influence on the production rate of carbon dioxide during the fermentation process and that the control contained an amount of magnesium that was neutralized by the presence of the fluoride anion. Though mean production was lower for the magnesium sulfate solution than the ontrol, a few specific results overlapped suggesting the addition of magnesium sulfate had no affect for those instances. A lower mean value for the magnesium sulfate solution suggests either that the fermentation process was supersaturated by magnesium or that the sulfate anion adversely affected the production of carbon dioxide. Further experimentation should be performed to determine the affects of magnesium sulfate in comparison to other magnesium and non-magnesium containing salts such as calcium sulfate or magnesium chloride to determine which ion has the greatest affect.Unknown variables such as the age of the S. cerevisiae samples may have affected the outcome of this experiment. Verification of S. cerevisiae batch age would allow for additional experiments to determine whether magnesium supplementation affects yeast of a certain age differently than that of another. Additionally, the experimental test tube/vial container allowed for some of each solution to be pushed out of the experimental test tube as the level of carbon dioxide increased.Further experimentation should utilize a better method of measuring the production of the entire original solution, not a fraction of the soluti on as a function of time. An alternative would be to attach a balloon to the tip of the solution-filled test tube, measure the diameter of the balloon, let an hour elapse and then measure the diameter again to determine carbon dioxide gas production. Decreased carbon dioxide production levels for S. erevisiae in the presence of a sodium fluoride solution suggest that an absence of available magnesium during fermentation results in an inefficient fermentation process; some level of magnesium is required in order for the process of fermentation to operate at maximum efficiency. Additional magnesium does not guarantee a faster or more efficient means of fermentation/ethanol production and can have an adverse affect on the fermentation process.

Global Warming †Persuasive Essay Essay

The United States of America constitute four percent of the world’s population, yet produce one-fourth of the world’s carbon dioxide (Arbitrage 2005). It has been controversial if carbon dioxide is causing to rise the world’s temperature with long-term destruction to the environment or not. This research involves trying to find out if in fact global warming is happening or not. There are climate research findings which state global warming is happening, and there are also findings that this man-caused climate change is not evident. To the layman person, the conflicted issue can be rather confusing. The goal of this paper is to show which argument is stronger. International Climate Science Coalition (ICSC), the interest group which focuses on publicizing the consequences of ill-advised ideas of global warming. Its goal is to create awareness about rational discussion about climate changes, in so doing, moving the debate away from implementation of costly, dangerous, and ineffectual energy sources such as wind turbines, solar power, and biofuels. The core principles consist of ten criteria; however, these core principles can be overthrown with scientific discoveries by global warming activists such as EDF. The interest group, Environmental Defense Fund (EDF), focuses on preserving the natural systems on which all life depends. Its mission is to find practical and lasting solution to the most serious environmental problems. ICSC (global warming skeptic) states the first core principle as following. 1.) Global climate is always changing in accordance with natural causes and recent changes are not unusual. To answer the Regarding the climate change issue, EDF stated that humans are causing global warming by two main actions burning fossil fuels and deforestation which causes large amounts of carbon dioxide to be released in the atmosphere and act as a greenhouse. The second core principle is 2.) Science is rapidly evolving away from the view that humanity’s emissions of carbon dioxide and other ‘greenhouse gases’ are a cause of dangerous climate change. EDF disputes, as the earth’s atmosphere plays a great role in the climate for an example the earth and the moon is the same distance from the sun but they both have drastic differences in temperature. Greenhouse gases are what keep the earth habitable because it acts like a giant blanket the more greenhouse gasses the hotter the earth becomes. The third core  principle is 3.) Climate models used by the IPCC, United Nations’ Intergovernmental Panel on Climate Change, fail to reproduce known past climat es without manipulation and therefore lack the scientific integrity needed for use in climate prediction and related policy decision-making. EDF defends that the EDF is not the only interest group that is supporting climate change for an example the IPCC has done research involving climate change without the use of manipulation. The IPCC has also made an assessment report on the reliability of their climate models stating the reliability of their conclusion. The fourth core principle is 4.) The UN IPCC Summary for Policymakers and the assertions of IPCC executives too often seriously misrepresent the conclusions of their own scientific reports. EDF states the IPCC once again made assessments of their own scientific reports reducing their misrepresentation of their conclusions. The fifth core principle is 5.) Claims that ‘consensus’ exists among climate experts regarding the causes of the modest warning of the past century are contradicted by thousands of independent scientists. EDF declares International Climate Science Coalition (ICSC) has stated that many independent scientist debunked the fact that many scientist have a consensus on views but this is generally untrue because according to the National Aeronautics Space Administration (NASA) ninety-seven percent of the climate scientists agree that climate warming trends over the past century are very likely due to human activities, and most of the leading scientific organizations worldwide have issued public statements endorsing this position. The following is a partial list of American scientific societies who gave statements on climate change: American Association for the Advancement of Science, American Chemical Society, American Geophysical Union, American Medical Association, American Meteorological Society, American Physical Society, and The Geological Society of America. The sixth core principle is 6.) Carbon dioxide is not a pollutant – it is a necessary in plant photosynthesis and so is essential for life on earth. EDF came back with the ICSC has also stated that carbon dioxide is beneficial and It is true that carbon dioxide is a necessary factor as it is essential for life on earth but excessive carbon dioxide can disturb the balance of the greenhouse gasses which is harmful in great amounts. The seventh core principle is 7.) Research that identifies the Sun as a major driver of global climate change must be taken more seriously. EDF  argued the sun is a major driver of global climate change in the sens e that it is what gives us heat it is the atmosphere that regulates temperature it is important to keep our environment steady and it is taken extremely seriously. The eighth core principle is 8. ) Global cooling has presented serious problems for human society and the environment throughout history while global warming has generally been highly beneficial. EDF’s argument was that due to global warming many travesties like Drought, insect overpopulation, disease spread, rising sea levels and weather related disasters have occurred. The ninth core principle is 9.) It is not possible to reliably predict how climate will change in the future, beyond the certainty that multi-decadal warming and cooling trends, and abrupt changes, will all continue, underscoring a need for effective adaptation. EDF’s answer was it is impossible to reliably predict how the climate will change in the future but you cannot deny the evidence that the earth is progressively heating at a rapid level. EDF also states that scientists are almost certain that the humans are the utmost cause of global warming. The tenth core principle is 10.) Since science and observation have failed to substantiate the human-caused climate change hypothesis, it is premature to damage national economies with ‘carbon’ taxes, emissions trading or other schemes to control ‘greenhouse gas’ emissions. EDF, once again, stated the ICSC states that carbon tax will just destroy the economy but carbon tax will decrease the use of fossil fuels which may be a limited source and will help organizations efforts to decrease greenhouse gasses. The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change, which COMMITS its Parties by setting internationally binding emission reduction targets. From United Nation web: http://unfccc.int/kyoto_protocol/items/2830.php

The Enlightenment Essay Example | Topics and Well Written Essays - 250 words

The Enlightenment - Essay Example With the development of scientific societies and academies, there has been considerable progression in science which has aided the contemporary world. Furthermore, the popularity of science increased in the educated population. People became aware of the philosophies, knowledge and theories. There were advancements in terms of medicine, physics and mathematics which have extended till now and ministered to the advent of various technologies today that were once only seen as a far sighted notion. There had been advancements in the fields of electronics, chemistry which then evolved into modern chemistry. Enlightenment science paved ways for rationality and empiricism. Enlightenment ideas educated people all over Europe. It also spread the knowledge of art and literature which changed the styles into more ‘neo-classical’ themes. However, there was some criticism that argued that the development of science made man secluded from nature and it contributed to unhappiness in m ankind. The era of enlightenment and its impacts on science are very vast. The enlightenment was a stepping stone between the medieval world and the world we live in today. Many institutions were developed and more importantly, the mindset of the people was changed. The age of enlightenment focused on the power of reason and the attainability of the Truth. (Mulder) Works Cited Mulder, H.

Capital budgeting decision Coursework Example | Topics and Well Written Essays - 250 words

Capital budgeting decision - Coursework Example Michael Evans investing in vineyard Garrison, Noreen, & Brewer, (2014) was a good decision. Growing a vineyard in an opulent estate where land is expensive was an enormous capital outlay. The property is utilized in investing in a less costly business decision of investing in vineyard plantation rather than real estate that is more capital intensive. Michael Evans opened a cooperative society business. He relinquished vineyard-growing business to other investors. Michael Evans made a wise business decision. Selling and lease back where he charged the new investors a one-off fee of $85,000 and an annual maintenance fee of $3,500 to process one bottle of wine Megan, (2014). Through this, he raised initial capital to fund his cooperative business investment. In conclusion, the cash flows of the new business line are guaranteed. The business may use this annual cash flow to invest in other long-term projects. Michael Evans is a realized the importance of the net present value of the assets and utilized opportunity to invest in a new business

How economics influence a country Essay Example | Topics and Well Written Essays - 750 words

How economics influence a country - Essay Example Germany has a charming and promising standard of living. Germany has the best living standard in Europe. Characterized by a responsive authority, joint public, private partnership and the best service based economy; Germanys living standards are nothing short of perfect. The infrastructure is at its peak with elaborate means of transport. Germany has the best health policy in Europe and the mortgage industry is at its peak. As a result, Germany, emerges as one of the most beautiful and habitable places in Europe. The glory and splendor of Germany, however, has a tainted future. The economy heavily depends on its vibrant industries. These industries need a high input of human labor (office 164). The shrinking and aging Germany population is not in a position to handle most expansion and growth. The industries result in labor importation a very expensive undertaking which slices away a large proportion of the profits earned. In return, the feasibility to undertake any commercial activity is dark due to the high cost of labor. In the next 50 years, Germanys population will shrink by 20%. In all aspects, even if the economic growth rate maintains at a relative 115, the country will eventually lose out on the cost of production. Currently, the per capita income of Germany stands at $388 per head. Germany has the highest per capital rating in Europe. Increase in the cost of production ultimately leads to costly goods and services and the per capital income fall sharply. Currently, Germany offers a good work climate for potential workers. The balls are changing fast for the country as the south East economies pick on the development trend. Posing Germany against Malaysia, it is w orth noting that Malaysia is the very reverse of Germany. The Malaysian population is exploding and so is its workforce. Currently, Malaysia per capita income stands at $9000 per head (East Asia

The recruitment, selection and training methods of LVMH Essay - 1

The recruitment, selection and training methods of LVMH - Essay Example Given below is the systematically defined roadmap for underlying research in order to achieve objective of the research. 3.1 Purpose of Study Human resource management has growingly taken the strategic position in the business management and now organizations have realized the importance of managing human resource strategically. Since realization of fact that human resource is the most important capital asset all scale businesses have started to develop mechanism that ensure increased efficiency in business operations. Further, for developing such mechanism most of the businesses try to replicate mechanism employed at other businesses that have gained success across the board. Hence, the purpose of the research is to explore the human resource management of LVMHs that has gained success as an international organization. More specifically, the research explores the recruitment, selection and training section of the human resource management functions of LVMH. LVMH has 100,000 employed with 80% of the employees working for organization outside the country of origin, France. With such business model, the business has successfully managed the diverse employee base across various countries. Hence, exploring the mentioned functions of LVMH will fulfill the purpose of research of identifying the recruitment, selection and training procedure employed at LVMH. With assessment of the processes the research also fulfills the purpose of aligning information pertaining to the success of LVMH presented in financial statement as well as form K. The other purpose that has been fulfilled by the research in this study is the presentation of recruitment, selection and training procedure for the businesses that intend to replicate the human resource model of successful organization to respective organizations. In addition to the above purposes that would benefit businesses on practical aspects, the research is aimed to contribute to the academic literature the assessment of certai n human resource function of internationally successful organization. As stated the purpose of the above research is to explore information about the organization; hence, the understudy research is regarded to be exploratory research. 3.1.1 Research Question The research question is concisely presenting the objectives of the study. Defining research question the researcher develops postulates that are to be specifically addressed by the research (Patton, 1980). Since every domain of study has its own expansions; therefore, developing research question facilitates the researcher with defining scope of the research to be addressed. With these factors, the researcher in the research presents specified set of questions that study intends to explore. Hence, the research question that underlying research, entitled Recruitment, Selection and Training of LVMH, is aimed to address includes following: What methodologies are adopted at LVMS for developing the candidate base under recruitment? What are the selection techniques employed at LVMH for short listing and then selecting the candidate for the particular job? What training methodologies are employed at LVMH to align the new employees on the same frequency of other employees? It further aims to explore the training methodol