Revolution in physics and chemistry

Introduction Chemistry and physics are among the major subjects studied in the world today. Historically, the revolution of science dates back between the 16th and 17th century. Europe is the mother of all scientific revolution for it laid the foundation of innovative and advanced science.Advertising We will write a custom essay sample on Revolution in physics and chemistry specifically for you for only $16.05 $11/page Learn More The urge to carry out a series of experiments and research led to the initiation and the ultimate breakthrough of chemical and physical revolution by ancient scientists. The chemical revolution led to different discoveries in chemistry opening doors to other scientific inventions in the medical and industrial setups. The following discussion focuses on the scientific revolution of two main sciences; physics and chemistry and its impact. Revolution in physics Different philosophers contributed to the ideologies in chemistry and p hysics. Aristotle was a famous Greek philosopher who first initiated discoveries in physical sciences. The Aristotelian theory describes the earth as the center of gravity and the shape, size, movement or behavior of both living and lifeless objects on the earth’s surface. Additionally, he defines physics as a natural science composed of both living and non-living things. From Aristotle description of the earth as the central attraction of all objects, gravitational theory emerged. In 16th century, Sir Isaac Newton pioneered the discovery of the gravity theory after studying Aristotle’s ideas. Due to the success of the gravitational theory, scientists discovered two other planets, Neptune and Uranus. However, the inability to locate the position hence orbit of Mercury was the main cause of its failure which pushed for a detailed research on gravity. Later corpuscular model by Louis and electromagnetic radiation model by Lorentz explained the law of gravity and emission of electric charges by bodies. Unfortunately, in the 19th century, all the laws became invalid because they violated modern laws on conservation of energy and thermodynamics especially in physics. Although the gravitational theory is no longer applied, its concept has enabled calculation of gravity in the modern science. On the other hand, the impetus theory redefined the physical concept on inertia force as described by Aristotle. The ability of a body to retain its continuous motion despite application of external force underscores the Impetus theory. Similarly, Hipparchan-philoponan theory describes application of force or motion against the gravitational force like throwing of a stone while Avicenna theory describes projectile force. All these ancient theories redefined Aristotle theory, which describes physics in terms of inertia force, impulsive or momentum, and speed (acceleration). Galileo Galilei was a famous physician whose physical invention is still applicable in all mo dern learning institutions. He described and interpreted all experimental facts in physical science leading to the discovery of kinematics as a subject. Therefore, the mechanical and chemical philosophies describe the scientific revolution while Empiricism initiated revolution in physical science.Advertising Looking for essay on rhetoric? Let's see if we can help you! Get your first paper with 15% OFF Learn More Revolution in chemistry As the physical revolution was taking part, the chemical revolution was also underway. A number of philosophers and scientist progressively led to the success of chemistry as an area of study. The major scientist who led to success of modern chemistry is Antoine Lavoisier through his presentation of chemical elements. Lavoisier discovered the major elements in chemistry like Oxygen, hydrogen, and sulfur. This landmark discovery was in line with the invention of oxygen theory which holds that most chemical compounds consist of different e lements and oxygen is the common element among others. Additionally, Lavoisier described the components of water as oxygen and hydrogen on top of discovering that air consists of gases like nitrogen, oxygen and other trace elements. Due to his description of the chemical nomenclature, there was derivation of different chemical compounds like sulfate and sulfuric acid among others. Using the single theory, Lavoisier described chemical balance which opened the way for stipulating origin and derivation of chemical equations in chemistry. Apart from concentrating on chemicals, Lavoisier researched on physical chemistry and thermodynamic laws, which were part of physical science. Lavoisier’s radical theory describes elements and concept of allotropism in elements. The emergence of diamond and carbon are among Lavoisier’s major discoveries. Unfortunately, most of Lavoisier’s discoveries and theories received rejection and criticisms from fellow chemical scientists. Pr iestly, one of the major scientists declined to acknowledge Lavoisier’s work especially the law on conservation of mass. Despite receiving objections, Lavoisier’s experiments are still applicable in the current world especially in the chemical and laboratory practices. Other great contributors to chemical revolution include Jacob Berzelius who besides writing chemistry books, he drew tables on atomic weights. Additionally, Berzelius gave each chemical element a letter or notation for easier identification. Other chemicals like silicon, selenium, lithium, and vanadium were among his discoveries. Luckily, he did not receive opposition from other scientists during his research. However, he opposed the discovery of chlorine in 1810 by Humphry Davy even though, his opposition ended in 1812 after discovery of iodine.Advertising We will write a custom essay sample on Revolution in physics and chemistry specifically for you for only $16.05 $11/page Learn More Besides Berzelius, John Dalton was also a chemistry philosopher who discovered the atomic theory. According to Dalton, all chemical elements are composed of particles called atoms and they can neither be created nor destroyed; they can only undergo chemical reactions (changes). Additionally, Dalton researched on the effect of heat or temperature on gases which led to the principles of pressure and expansion of gases or water evaporation. His research on gases like methane, ethylene, carbon dioxide and nitro oxide initiated the development of atomic theory. The Dalton theory is still applicable in contemporary world taught in scientific learning institutions. In addition, Boyle’s law initiated chemical revolution in the 16th century. Robert Boyle’s research on water expansion (freezing), crystals, electricity and color blindness led to the publication of his book the Sceptical chymist, which forms the foundation of advanced chemistry. He defined chemistry a s a science and not an art by describing composition of all substances in chemistry. Impact of revolution in chemistry and physics The scientific revolution involved research on natural, chemical, and physical sciences. However, most scientists who initiated chemical revolution had knowledge on physics. Therefore, the revolution in chemistry and physics happened at the same time during the 16th and 17th century. Consequently, the chemistry and physical revolution initiated industrial revolution in Europe and other western countries. In comparison, chemistry and physics are similar because they all describe the elements of nature either in the physical or chemical form. Currently, inventions in physics and chemistry are applicable in the medical and industrial industries. Conclusion In a recap, the sixteenth and seventeenth century was the age of renascence which defines scientific revolution. Famous scientists like Aristotle, Boyle, Newton, and Dalton led to scientific revolution. B esides other discoveries like in medicine or psychology, there were tremendous inventions in chemical and physical sciences. In physics, there are different theories, which include gravitational, Avicenna, and impetus among others. The theories in chemical revolution include atomic, Dalton and radical theory among others. All the scientific inventions in physics and chemistry are currently applicable in industries and all learning institutions. However, the works of early scientists like Lavoisier received opposition from fellow chemists or physicists hence obstructing adaptation of their discoveries. Chemical and physical revolution was the foundation of industrial revolution. In addition, most industries in food, medical or machinery base their research on elements of chemistry and physics.Advertising Looking for essay on rhetoric? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on Revolution in physics and chemistry was written and submitted by user Preston Nelson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Television Violence essays

Television Violence essays With the recent outbreak of school shootings, there has been renewed public concern over how violence is depicted in the media, particularly on television. Studies have shown that a child has witnessed 8,000 murders on television before finishing elementary school. With this statistic in mind, I am going to define television violence, state some facts on how violence causes aggressive behavior in children and give some suggestions on how parents can decrease the amount of media violence in their home. Television violence usually refers to all the violence appearing on TV screens. It includes material broadcast over the air, distributed by cable and satellite systems, and available on videocassettes and disks. A common understanding or definition of what constitutes television violence could be useful in helping to examine and regulate the problem (Alter, pars. 4-5). Extensive viewing of television violences by children causes greater aggressiveness. Sometimes, watching a single violent program can increase aggressiveness. Children who view shows in which violence is very realistic, frequently repeated or unpunished, are more likely to imitate what they see. The impact of TV violence may be immediately evident in the childs behavior or may surface years later , and young people can even be affected when the family atmosphere shows no tendency toward violence. This does not mean that violence on television is the only source for aggressive or violent behavior, but it is a significant contributor (Smith, par. 4). The overall pattern of research findings indicates a positive association between television violence and aggressive behavior. A Washington Post article , states that the evidence from more than 3,000 research studies over two decades shows that the violence portrayed on television influences the attitudes and behavior...

105 Interesting Persuasive Speech Topics for Any Project

105 Interesting Persuasive Speech Topics for Any Project SAT / ACT Prep Online Guides and Tips Are you struggling to find good persuasive speech topics? It can be hard to find a topic that interests both you and your audience, but in this guide we’ve done the hard work and created a list of 105 great persuasive speech ideas. They’re organized into ten categories and cover a variety of topics, so you’re sure to find one that interests you. In addition to our list, we also go over which factors make good persuasive speech topics and three tips you should follow when researching and writing your persuasive speech. What Makes a Good Persuasive Speech Topic? What makes certain persuasive speech topics better than others? There are numerous reasons, but in this section we discuss three of the most important factors of great topics for a persuasive speech. It’s Something You Know About or Are Interested in Learning About The most important factor in choosing and creating a great persuasive speech is picking a topic you care about and are interested in. You’ll need to do a lot of research on this topic, and if it’s something you like learning about, that’ll make the process much easier and more enjoyable.It’ll also help you sound passionate and informed when you talk, both important factors in giving an excellent persuasive speech. It’s a Topic People Care About In fourth grade, after being told I could give a persuasive speech on any topic I wanted to, I chose to discuss why the Saguaro cactus should be the United State’s national plant. Even though I gave an impassioned talk and drew a life-size Saguaro cactus on butcher paper to hang behind me, I doubt anyone enjoyed the speech much. I’d recently returned from a family vacation to Arizona where I’d seen Saguaro cacti for the first time and decided they were the coolest thing ever. However, most people don’t care that much about Saguaro cacti, and most people don’t care what our national plant is or if we even have one (for the record, the US has a national flower, and it’s the rose). Spare yourself the smattering of bored applause my nine-old self got at the end of my speech and choose something you think people will be interested in hearing about. This also ties into knowing your audience, which we discuss more in the final section. It Isn’t Overdone When I was in high school, nearly every persuasive speech my classmates and I were assigned was the exact same topic: should the drinking age be lowered to 18?I got this prompt in English class, on standardized tests, in speech and debate class, etc. I’ve written and presented about it so often I could probably still rattle off all the main points of my old speeches word-for-word. You can imagine that everyone’s eyes glazed over whenever classmates gave their speeches on this topic. We’d heard about it so many times that, even if it was a topic we cared about, speeches on it just didn’t interest us anymore. The are many potential topics for a persuasive speech. Be wary of choosing one that's cliche or overdone. Even if you give a great speech, it’ll be harder to keep your audience interested if they feel like they already know what you’re going to say. An exception to this rule is that if you feel you have a new viewpoint or facts about the topic that currently aren’t common knowledge. Including them can make an overdone topic interesting. If you do this, be sure to make it clear early on in your speech that you have unique info or opinions on the topic so your audience knows to expect something new. 105 Topics for a Persuasive Speech Here’s our list of 105 great persuasive speech ideas. We made sure to choose topics that aren’t overdone, yet that many people will have an interest in, and we also made a point of choosing topics with multiple viewpoints rather than simplistic topics that have a more obvious right answer (i.e. Is bullying bad?). The topics are organized into ten categories. Arts/Culture Should art and music therapy be covered by health insurance? Should all students be required to learn an instrument in school? Should all national museums be free to citizens? Should graffiti be considered art? Should offensive language be removed from works of classic literature? Are paper books better than e-books? Economic Should all interns be paid for their work? Should employees receive bonuses for walking or biking to work? Will Brexit hurt or help the UK’s economy? Should all people over the age of 65 be able to ride the bus for free? Should the federal minimum wage be increased? Should tipping in restaurants be mandatory? Should Black Friday sales be allowed to start on Thanksgiving? Education Should students who bully others be expelled? Should all schools require students wear uniforms? Should boys and girls be taught in separate classrooms? Should students be allowed to listen to music during study hall? Should all elementary schools be required to teach a foreign language? Should schools include meditation or relaxation breaks during the day? Should grades in gym class affect students’ GPAs? Should teachers get a bonus when their students score well on standardized tests? Should children of illegal immigrants be allowed to attend public schools? Should students get paid for getting a certain GPA? Should students be allowed to have their cell phones with them during school? Should high school students be allowed to leave school during lunch breaks? Should Greek life at colleges be abolished? Should high school students be required to volunteer a certain number of hours before they can graduate? Should schools still teach cursive handwriting? What are the best ways for schools to stop bullying? Ethics Should prostitution be legalized? Should people with more than one DUI lose their driver’s license? Should people be required to shovel snow from the sidewalks in front of their house? Should minors be able to drink alcohol in their home if they have their parent’s consent? Should guns be allowed on college campuses? Should flag burning as a form of protest be illegal? Should welfare recipients be required to pass a drug test? Should white supremacist groups be allowed to hold rallies in public places? Should assault weapons be illegal? Should the death penalty be abolished? Should beauty pageants for children be banned? Is it OK to refuse to serve same-sex couples based on religious beliefs? Should transgender people be allowed to serve in the military? Is it better to live together before marriage or to wait? Should affirmative action be allowed? Should prisoners be allowed to vote? Should Columbus Day be replaced with Indigenous Peoples’ Day? Government/Politics Should the government spend more money on developing high-speed rail lines and less on building new roads? Should the government be allowed to censor internet content deemed inappropriate? Should Puerto Rico become the 51st state? Should Scotland declare independence from the United Kingdom? Whose face should be on the next new currency printed by the US? Should people convicted of drug possession be sent to recovery programs instead of jail? Should voting be made compulsory? Who was the best American president? Should the military budget be reduced? Should the President be allowed to serve more than two terms? Should a border fence be built between the United States and Mexico? Should countries pay ransom to terrorist groups in order to free hostages? Health Should minors be able to purchase birth control without their parent’s consent? Should hiding or lying about your HIV status with someone you’re sleeping with be illegal? Should governments tax soda and other sugary drinks and use the revenue for public health? Should high schools provide free condoms to students? Should the US switch to single-payer health care? Should healthy people be required to regularly donate blood? Should assisted suicide be legal? Religion Should religious organizations be required to pay taxes? Should priests be allowed to get married? Should the religious slaughter of animals be banned? Should the Church of Scientology be exempt from paying taxes? Should women be allowed to be priests? Should countries be allowed to only accept refugees with certain religious beliefs? Should public prayer be allowed in schools? Science/Environment Should human cloning be allowed? Should people be allowed to own exotic animals like tigers and monkeys? Should â€Å"animal selfies† in tourist locations with well-known animal species (like koalas and tigers) be allowed? Should genetically modified foods be sold in grocery stores? Should people be allowed to own pit bulls? Should parents be allowed to choose the sex of their unborn children? Should vaccinations be required for students to attend public school? What is the best type of renewable energy? Should plastic bags be banned in grocery stores? Should the United States rejoin the Paris Agreement? Should puppy mills be banned? Should fracking be legal? Should animal testing be illegal? Should offshore drilling be allowed in protected marine areas? Should the US government increase NASA’s budget? Should Pluto still be considered a planet? Sports Should college athletes be paid for being on a sports team? Should all athletes be required to pass regular drug tests? Should professional female athletes be paid the same as male athletes in the same sport? Are there any cases when athletes should be allowed to use steroids? Should college sports teams receive less funding? Should boxing be illegal? Should schools be required to teach all students how to swim? Should cheerleading be considered a sport? Should parents let their children play tackle football? Technology Will robots reduce or increase human employment opportunities? What age should children be allowed to have a cell phone? Should libraries be replaced with unlimited access to e-books? Overall, has technology helped connect people or isolate them? Should self-driving cars be legal? Should all new buildings be energy efficient? Is Net Neutrality a good thing or a bad thing? Do violent video games encourage players to become violent in real life? 3 Bonus Tips for Crafting Your Persuasive Speech Of course, giving a great persuasive speech requires more than just choosing a good topic. Follow the three tips below to create an outstanding speech that’ll interest and impress your audience. Do Your Research For a persuasive speech, there’s nothing worse than getting an audience question that shows you misunderstood the issue or left an important piece out. It makes your entire speech look weak and unconvincing. Before you start writing a single word of your speech, be sure to do lots of research on all sides of the topic. Look at different sources and points of view to be sure you’re getting the full picture, and if you know any experts on the topic, be sure to ask their opinion too. Consider All the Angles Persuasive speech topics are rarely black and white, which means there will be multiple sides and viewpoints on the topic. For example, for the topic â€Å"Should people be allowed to own pit bulls?† there are two obvious viewpoints: everyone should be allowed to own a pit bull if they want to, and no one should be allowed to own a pit bull. But there are other options you should also consider: people should only own a pit bull if they pass a dog training class, people should be able to own pit bulls, but only if it’s the only dog they own, people should be able to own pi tbulls but only if they live a certain distance from schools, people should be able to own pit bulls only if the dog passes an obedience class, etc. Thinking about all these angles and including them in your speech will make you seem well-informed on the topic, and it’ll increase the quality of your speech by looking at difference nuances of the issue. Know Your Audience Whenever you give a speech, it’s important to consider your audience, and this is especially true for persuasive speeches when you’re trying to convince people to believe a certain viewpoint.When writing your speech, think about what your audience likely already knows about the topic, what they probably need explained, and what aspects of the topic they care about most.Also consider what the audience will be most concerned about for a certain topic, and be sure to address those concerns. For example, if you’re giving a speech to a Catholic organization on why you think priests should be allowed to marry, you don’t need to go over the history of Catholicism or its core beliefs (which they probably already know), but you should mention any research or prominent opinions that support your view (which they likely don’t know about). They may be concerned that priests who marry won’t be as committed to God or their congregations, so be sure to address those concerns and why they shouldn’t worry about them as much as they may think. Discussing your topic with people (ideally those with viewpoints similar to those of your future audience) before you give your speech is a good way to get a better understanding of how your audience thinks. More Resources for Writing Persuasive Speeches If you need more guidance or just want to check out some examples of great persuasive writing, consider checking out the following books: Lend Me Your Ears: Great Speeches in History by William Safire - This collection of great speeches throughout history will help you decide how to style your own argument. The Essentials of Persuasive Public Speaking by Sims Wyeth - For quick direct tips on public speaking, try this all-purpose guide. Talk Like TED: The 9 Public-Speaking Secrets of the World's Top Mindsby Carmine Gallo - This popular book breaks down what makes TED talks work and how you can employ those skills in your own presentations. We Should All Be Feminists by Chimamanda Ngozi Adichie andMake Good Artby Neil Gaiman - These two recent speeches by contemporary writers offer stellar examples of how to craft a compelling (and engaging) argument. Conclusion: Persuasive Speech Ideas Good persuasive speech topics can be difficult to think of, but in this guide we’ve compiled a list of 105 interesting persuasive speech topics for you to look through. The best persuasive speech ideas will be on a topic you’re interested in, aren’t overdone, and will be about something your audience cares about. After you’ve chosen your topic, keep these three tips in mind when writing your persuasive speech: Do your research Consider all the angles Know your audience What's Next? Want a great GPA?Check out our step-by-step guide to getting good grades in high school so you can have a stellar transcript. Interested in learning about other great extracurricular opportunities? Learn more about job shadowing, community service, and volunteer abroad programs. Still trying to figure out your courses? Check out our expert guide on which classes you should take in high school. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

On the job Ethics - Sex and Alcohol Essay Example | Topics and Well Written Essays - 1000 words

On the job Ethics - Sex and Alcohol - Essay Example Such principles include providing accurate information, using morally correct procedures, and restraining from any inappropriate behavior towards co-workers or any other party, etc. While all professions require the implementation of job ethics, this consideration may be exceptionally essential for the media industry or any institution, which is seeking to provide the public with news regarding an important social issue. The AMA wished to impart important information to the public regarding â€Å"risky behavior† on the part of college students during spring break. In order to do this, they conducted a survey in which they measured factors such as alcohol availability and sexual activity. Both of these issues are serious issues prevalent in western societies and do require sufficient â€Å"national attention†. However, a question does arise when considering the appropriate and ethical way of grasping public interest and attention. While the AMA may argue that they had th e public’s best interests at heart and thought it unnecessary to mention the details of the survey and the procedure; a responsibility does exist on their part of providing accurate and honest information. ... e authentic and accurate in all their findings, and once the public is led to believe that some of the studies and results published by the AMA are inaccurate or have been falsely construed, they will less likely believe any other findings published by the AMA in future periods. Concealing information or knowingly giving false perceptions is also considered misleading. Hence the AMA’s alibi of aiming to get â€Å"national† attention does not justify the means they used to do it. Issues, such as alcohol and sexual activity are important and highly sensitive social issues, especially among college students and the young generation. Hence, providing falsified or exaggerated results regarding such behavior may result in public unrest or serious concern on the part of parents and other family members regarding the activities that their young college student is involved in. Providing the public with a high percentage of college students who feel forced into sex during spring break trips is a grave matter of concern for the public, and provided that they assume the survey is based on a scientific procedure, this may cause them further concern. Although such issues do prevail in society and the survey maybe providing an accurate picture of the opinions of the participants, it does not accurately measure the behavior of college students on spring break. Hence, the survey lacks validity and reliability, which are two conditions that must be met by a survey or questionnaire in order to prove its authenticity. One can term the news release as misleading because it failed to say that these percentages were of the opinions of self- selected participants rather than the actual behavior of the selected sample. The AMA’s answer does not justify the means and it shows that the AMA

Law Making in the UK Essay Example | Topics and Well Written Essays - 1500 words

Law Making in the UK - Essay Example Such things as local byelaws or professional rules are delegated legislation. 3. Devolved parliaments such as the Scottish Parliament can pass both primary legislation and also separate legislation on devolved issues e.g. those that apply particularly to their regions. 4. Precedent. ( page 141) This is a legal term in common law. It refers to a decision made based upon earlier judgments. The lower courts base their decisions upon principles which have been laid down in higher courts. 5. Common Law. ( page 189) This term refers to the substantive rules, i.e. rules about which behaviour is allowed, and procedural rules i.e. how things should be done.. Both of these kind of rules judges create and use in court. Common law alters according to changes in society i.e. what society considers to be allowable or not during a particular period. . 6. European Union law. ( page 225) Laws passed by the European Parliament are valid in the member countries of the European Union. Primary legislatio n includes laws based upon treaties and agreements between members. Secondary legislation includes such things as directives and guidelines. Also included are judgments made in the European Court of Human Rights. Question 2 Explain the role of the judiciary in developing common law. Does this role assist with law making? Common law, otherwise known as case law, is case centred i.e. it depends upon the particular cases that occur. This distinguishes it from statutory law i.e. that detailed in Acts of parliament. I t is judge centred as it is the judiciary, at various levels, who make the decisions. Common law develops in a very gradual way depending upon circumstances i.e. which cases come to court. It is based upon precedent, that is what has preceded it. Where a new case presents the same situation as an earlier one then the earlier decision will be followed. It is not planned ahead. It is a system used by the United Kingdom and still in place in many of her former possessions such as Commonwealth countries and the United States of America. The European Court of Justice was established under different rules – those based upon Roman and German styles of Civil Law, but in practice is basing its decisions more on a case by case style, although based upon earlier decisions it has made i.e. it is building up a common law base to be used by its judiciary when making rulings on particular cases.. Hobhouse is cited as saying ( page 190) that common law must develop as â€Å"circumstances change and the balance of legal , social and economic needs change.† Society is in a constant flux and judges need to be able to make decisions based upon the changing circumstances. This can be done by overruling earlier decisions made in a lower court. Lower courts are bound by decisions made in higher courts. Judges are not necessarily required to follow the precedent of earlier rulings. It can be a matter of distinguishing – pointing out particular circumstan ces which mean that somewhat different principles might be applied in a certain case – mitigating circumstances for instance. The disadvantage of this system is that it only works for cases that are actually brought before the courts - the courts only rule on these cases not hypothetical ones that might or might not occur. Some would consider this a disadvantage, but at least time is not wasted considering what might have been. The real

On the Job Training Essay Example for Free

On the Job Training Essay It also benefits the students to acquire relevant knowledge and skills by performing in actual work setting. Colleges and universities require their students to undergo such training within a specific number of hours as part of the curriculum. It provides opportunities to go through the actual methodologies of a specific job using the real tools, equipments and documents. In effect, the workplace becomes a development venue for a student trainee to learn more about his chosen field and practice what he has learn from university. Supervised Industrial Training is an important opportunity for students to seed their careers in a particular industry; or alternately, it may help students to clarify which sector of the industry they wish to pursue a career in. It works to develop an individual’s sense of professionalism by experiencing firsthand the industrys culture and practices; learning from professionals their roles and responsibilities as active professionals. It is here our technical skills as well as our ability to take on and handle given responsibilities and make sound decisions that will strengthen our prospects. It is therefore not uncommon for us students who rise to the challenge to be offered a continuing position after their initial supervised industrial training period. Alternatively, an efficient OJT program furthermore benefits the companies who accommodate trainees. Initially OJT or intern offer further manpower for a slighter compensation than a regular member of staff. Majority of them are all dedicated to be trained so probabilities are high that they will cooperate. Managers can make use of this internship strategy as a scheme in recruiting new employees. Given that the supervisor can keep an eye on the trainees’ development, he/she can determine based on performance, actions and approach if the trainee will make an excellent recruit after the completion of his internship. In Addition, OJT’s are capable to convey bright fact into the group. Known the chance to verbalize their mind liberally and with no apprehension, they perhaps able to contribute substantially in suggestion gathering or research and sooner or later help develop the company’s productivity. At the same time as teaching the interns, supervisors are actually also training their member of staff to development of guiding the trainees broaden their persistence, widen teaching expertise and make them supplementary aware to the requirements and state of mind of the adolescent. The path of supervision as well explains them how to contribute what they know and be sympathetic to enquiry. For this reason, the internship additionally turns out to be an opportunity in training for the future managers of the company. Obliging on SIT can exceptionally be beneficial not only to the trainees but also to the companies that endow with opportunities for this kind of learning. This is also why trainees should undergo their SIT seriously as it may turn out to be a dominant tool and perhaps even a basis of proposal as soon as they acquire that huge raise for being students to career professionals. But most important of all, it is one of the best training methods because it is planned, organized, and conducted at the actual worksite. SIT will generally be the primary method used for broadening trainee skills and increasing productivity. It is particularly appropriate for developing proficiency skills unique to an employees job especially jobs that are relatively requires knowledge and skills to learn and the attitude and whole personality of the student to deal with his superiors, co-workers and subordinates. Morale, productivity, and professionalism will normally be high in those students that undergone SIT program. Thus, these acclimatized qualities will be used by the students to be successful in life. VNR Construction, a company where I’m assigned to learn and experience the construction/development process. VNR Construction was registered with the Department of Trade and Industries in 1999. It is a company and Industry of Engineering and Architecture. Their main line of business is in building construction, labor supply, and steel fabrications. Their project range from private residential buildings to medium rise office towers. This is owned by ENGR. Nelson Remulla, a licensed Electrical Engineer. Company Vision is to have Professionalism on the system of delivering services, and provide quality, competitive price of every undertakings and to deliver the highest level of satisfaction to the clients. VNR had established its name for its quality of work and excellent after sale service which gained for the company the confidence of its clients, likewise due to its flexible organization the company can offer competitive price for its services. Main Mission is to be known as one of the well systematic Construction Company in the field of Planning and Development, It will achieve only in compliance with its quality management system, dedication to their customer, service enhancement, and commitment to serve. II. Job performed in the Company May 21, 2012, it was the date when I first started my day as an OJT at VNR Construction. It is a construction company which is sited at 4th floor VNR business center, Governor’s drive, Langkaan I, City of Dasmarinas Cavite. I was designated at the department called Purchasing Department. This department serves as the central purveyor of tools, equipments, and materials that is necessary to site. Furthermore, at this department, its major task is to hit upon good supplier which supplies good quality of materials at reasonable cost and need to deliver immediately to not have a delay in construction. It must not have delays to maintain the production stream smoothly and prevent waste of time and money. On the first week of my training, I started my work as an assistant and an aid of Mr. John Paolo Modesto – Head of Purchasing Department. He first taught me the pace of purchasing department, rules and regulation, and what is the blend of coffee that my boss likes. I him help arranging company’s documents, photocopy of files, estimate, and answering phone calls. Being an assistant is bland; assuming that it was the only work that I will do for the rest of my OJT. On the second week of my training, it was an honor for me that Engineer has given me a chance to go along on tour with our client. While we are on the trip, I saw how engineer deals with our client. As time goes by, I get used to be a purchaser. My supervisor was trained me to have good communication skills with our suppliers and visitor. He also trained me how to communicate with other supplier to do business with to lowest price possible we could get from them without sacrificing the quality of material we will purchase from them. It is also my task to encode in my database all the materials that have been delivered, to monitor the materials cost in each site. . It is also our task to do monetary report of all projects. So that Engineer can visualize what is happening on every project. We tried our best to come up with 100% accuracy in our report. On the third week of my training, I feel I already worked just like a regular employee of the company. Starting on that time, I feel I was not an assistant or a helper any longer just like on my first day of OJT, but one of trusted personnel on the department. It was privilege to me that my supervisor has trusted to make material request form, purchase request form, purchase order form, transmittals, cash advance of workers, and endorsed me some of important files. It is also an honor to me that the company teaches me how to handle subordinates appropriately. Sometimes I go along with the driver and helper to monitor their progress, to deliver the cash advance/payroll of the workers, to know the concerns of the site, and site inspection to examine the materials that has to be delivered. On the following week of my training, while I was assigned as a purchaser, the company transfer me in the construction department. At that time, I am very excited to work with site because since the first day of my OJT I wish that I would designate to site. At the first day in the site everything is new, new environment, new task, and new supervisor. Furthermore, I struggled to adopt in my new department because from being a purchaser that I accustomed with, I now work as an assistant of Mr. Junmhar Reyes (one of the three professionals site supervisor of VNR). We are assigned in 3rd floor of VNR business center, 1 floor lower from our office, our task to renovate an existing call center and make it a world class piece. I also have a hard time to fulfil all the responsibilities that was hand over to me like monitoring all the works of the worker to check if their work is followed according to plan and correct, making the daily accomplishment report and attendance of workers, and check our material balances. A month later, we were assigned in a new project in Devine Grace Medical Center located in Rosario, Cavite, again it is an existing 7th floor building but the 6th and 7th floor has no room partition because the said two floors is an extension so that the hospital can accommodate more patients. This time it’s more challenging not only because it is far away from our office, not only the site is much larger than our previous project, but because of we have to impressed and show the board how passionate, motivated, and world class output in our work. My supervisor, which is an expert in his field, taught me different techniques, approach, and all the things that he is knowledgeable with. Time came when my supervisor ask me to handle workers. That time is when I used what was taught to me by the company. Being an apprentice on that kind of department was really remarkable. All the techniques that were shared to me will help me a lot for my future career. III. Experience Earned After finishing the required 640 hours of duty for the company, I had may lessons Learned. The ten guidelines for a successful result of work are: 1. Take Risks   Do not be afraid to take risks. Where is the fun in that? If you want something, go for it! Do not try and justify every action you make. Sometimes, all you have to do is to take that big leap! We usually allow ourselves to settle at what is safe and secure and yet we end up wondering at all the â€Å"what if’s? and â€Å"what could have been’s? This is more logical than waiting for opportunity to knock on your door which may or may never come. 3. Have a Plan   Always have a plan. This is the best way to stay on track with your goals. Set a milestone which will provide as your visual in what you are working for, what you have successfully achieved, and what you need to do better. 4. Stay Motivated   When you’re too busy getting what you want you also exhausts all your energies with it and this becomes critical because this is usually the reason why we lose the battle. Half-way through, we get tired and lose the desire to go on. It is important to stay motivated. Remind yourself with the reasons as to why you are working hard. Read motivational quotes and articles. Assure yourself that every effort exerted will eventually pay-off in the long run. 5. Be Patient   Always remember that attaining goals almost always takes time. Be kind to yourself and the people around you because everything is actually a process in working your way up the ladder each day. 8. Reward yourself   As you surpass every milestone try and treat yourself for a job well done. 7. Do not Stop Learning   You may feel that you have already become an expert in your field when you’ve been working on it for so long. But this shouldn’t be the reason why you should stop learning. Keep innovating! New ideas and new ventures help keep the fire burning! 8. Learn to Delegate   When you are getting close to your goals you will find out that there are many more things to do than hours in the day. Find someone to help take some of your load so you can focus on things that need your full attention. 9. Raise your Standards   Always learn to â€Å"Step-up! † Increase your standard and strive for more! Not only with your accomplishments but also with your trials and your failures. It will keep you humble, which in turn, will help you continue striving for success. Training inside the company the company is a learning experience each day. I learned how to appreciate the lessons studied in school. I was able to realize the important principles, theories, and concepts that were discussed inside the classroom. And also I understand that everything that was thought inside the school especially in our laboratory shops class can be a tool that can be used in future career. Like me as an Architecture Technology student, how can I understand and read a whole plan if I don’t know anything about the basic of architecture. Second, how can I use the Autocad and Google Sketch Up if I haven’t experience them using in school. Lastly, How can I give proper reports if no has tried to teach how to use all the Microsoft office programs. No doubt, my school Technological University of the Philippines – Cavite Campus teaches me to the career I’ve chose. There once told me that the knowledge we learn for our school is only 10% of what we must learn and the 90% is learn in actual job. And that’s what VNR Construction do; it fulfills all the remaining 90%. As I was working as a trainee at VNR construction, I learned to become a hard-working person. Time to complete the output product is not important, but the quality. I also learned to follow the instructions as what the superior’s said and to accept opinion that they suggested. The training served as the stepping stone to me to the real life of an architect. It served as the beginning the real life of being an employee. I realized that learning is a lifetime commitment that is continues even you already have a job. The training gave me more initiative to my chosen career. I was more encouraged to pursue the Architecture Technology course. The training inspired me to enhance my skills and knowledge in the field of architecture technology. I was given some ideas what could be the feeling or situation being an employee. The training enriched my individuality as a beginner and created the foundation of being a good worker. The best thing that I have gained inside the company was the good orientation of the person having the higher positions. As Architecture Technology student, the OJT made me realize the importance of the course that I am taking. It made me realize the essential role of a architect in a company. An architect can take the work of electrical and civil engineering, but, no other course can takes place the work architect in a company. To be a competent one, not only an architect must understand what he/she is drawing with, the process and the underlying principles but also be knowledgeable in the field of construction. An architect must also possess good communication and leadership skill. The students have undergone a good training. The task given to me was an application of my shop subject of my course. The design of the project has a great in connection to the subjects. The anthropometry deals with the study of human dimensions were exactly related to what was discussed inside the classroom. I was technically given actual problems that have a main concern with the architecture technology subjects. The nature of the career course was the main focus of the training. This training will be useful if the nature of their training have the major concern for their chosen career. The trainees would able to use the experiences they have gone through during the training whenever they are already in the field of specialization. At the school, being late is better than absent. But as what I have learned at VNR Construction, being absent is better than being late. Being absent can be a cause of emergency situations like sickness, unpredicted travels and phenomena, while, being late is a cause of misbehaviour and unable to manage the time. I was training at VNR Construction for almost four months, I observed the daily activities and practices that the workers inside the company, as well as rules and regulation that all workers and employees must comply with. I easily observed that all workers inside the construction site must wear their proper uniform during working hours. Even the sweepers who clean the yard must wear complete uniform. Any workers who will notice without in their proper PPE will be given a punishment which may result in lay off the worker out of the company; reminding everyone that those people were violators. Safety inside the company was really strict. Another thing that I observed was the rules and regulation that the company initiated. Before entering the construction site at taguig, regular frisking and baggage inspections were conducted. Car and Delivery truck without gate pass cannot enter inside site except for the visitors. Trainees are not included as a visitor. Another was the NO smoking, sleeping and by standing rule. Any violators who will be caught will fine an amount of one thousand pesos. Gadgets like mobile phones and portable mp3 players are not allowed during working hours. Requests like emergency calls are accepted making sure that the call was important and entertain able. During my training at VNR Construction, I learned to interact with other people. We know that people have different characteristics and attitudes; however, making friends with the trainee’s co-workers doesn’t make difficult. Even though I was only a trainee, they don’t treat me like others. And as a trainee, I don’t feel uncomfortable as I worked with them. From the interaction I made with them, and later I learned to work with patience. Although thoroughly working on something was time consuming, the quality of the output product is the most important. I also learned from my co-worker’s experiences and mistakes and apply them whenever he needed it. They also encouraged me to go on with my studies until I become a professional. Although I worked and interact with them for a short period of time, I learned a lot to them; the skills and techniques that they shared with me that cannot be find on the books. IV. Problem met while on training Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable. While on my training I think no problem has aroused. Our coordinator has visited us in our company to monitor our progress, as they have said in the first day of OJT orientation. I’ve experienced a lot of problems during the first initial weeks of my training, this problems aroused due to the lack of background knowledge about the industry. During the first few initial weeks I was working so slowly, I had problems adjusting to the work environment, that my supervisor got irritated at me and complained about my work etiquette, I explained my side and I gradually got things fix. Yes, I have to admit I did screw up during my training, I broke this and damaged that, but in the end I learned from my mistakes. I remember what the Manager used to tell me, â€Å"That’s why you’re here, to learn. † And I’m proud to say that I didn’t make the same mistake twice. V. Suggestions and Recommendations The company created a good service to their clients and gave the best training for the students. The students must have a good company that would give them a good training ground and would enhance their knowledge and capabilities. The school must have the good coordination for some companies that offer an annual On the Job Training inside their company. The school should provide more budgets given to the OJT coordinators to have the best monitoring of the training the students are taking. One of the best ways of training is the provincial trainings that would give different experiences to the trainees. An out of town training would give more self esteem to the students. The evening students have their training at 4th year and first semester of the year. It is more efficient if they will take it 4th year of their last semester. In some cases having their training during the first semester of their 4th year of school would sometimes affect the rhythm of their schooling because in evening students OJT have their preferred pre-requisite subjects that once not taken would give a big effect to the arrangement of the student’s subjects. Instead of the regular schedule of years of studying, once being affected by the pre-requisite subjects, the students would waste some of the time spending for the subjects affected by the OJT.

Ambiguity, Inconsistency and Uncertainty in Othello Essay -- Othello e

Ambiguity, Inconsistency and Uncertainty in Othello  Ã‚   The Bard of Avon has in his tragedy Othello a true masterpiece, but not one without flaws. It contains blemishes, imperfections, and minor negative features which detract in lesser ways from the overall evaluation of the play. H. S. Wilson in his book of literary criticism, On the Design of Shakespearean Tragedy, addresses the arbitrariness and inconsistency in the play: Though the action moves in a single line, with none of the intricate interweaving of parallels displayed in Hamlet, the emotional pattern has, as it were, two poles of concentration: mounting horror at the insatiable malice of Iago, pity for the suffering helplessness of his victims. These effects are securely attained at the expense of a good deal of arbitrariness in the manipulation of the plat and even inconsistency of character [. . .] . (54) Let’s consider some of the â€Å"coincidences† or â€Å"accidents† in Othello which cause us to question its motivation and unity. For example, when in Scene 2 Cassio’s contingent arrives from the duke just moments before the rowdy mob led by Brabantio and Roderigo. Indeed there is more conflict and more interested generated by this coincidence – but is it realistic? Or seemingly arbitrary on the part of the playwright? Another coincidence that is more vital to the drama is the dropping of the decorated handkerchief at just the right moment in the plot for it to be crucial to the plot: DESDEMONA. Let me but bind it hard, within this hour It will be well. OTHELLO. Your napkin is too little; [He pushes the handkerchief from him, and it falls unnoticed] Let it alone. Come, I’ll go in with you. (3.3) For the most key piece of evidence to b... ...ast to illuminate some of the parts and at most to contribute to the understanding of the sum of the parts. If Othello is not the most complex of the tragedies, the problem of its over-all form is still a large one, and he who aspires to a full account of the creative relationship of all the parts must be content if he seems generally to be moving in the right direction. (329) WORKS CITED Heilman, Robert B. â€Å"Wit and Witchcraft: an Approach to Othello.† Shakespeare: Modern Essays in Criticism. Ed. Leonard F. Dean. Rev. Ed. Rpt. from The Sewanee Review, LXIV, 1 (Winter 1956), 1-4, 8-10; and Arizona Quarterly (Spring 1956), pp.5-16. Mack, Maynard. Everybody’s Shakespeare: Reflections Chiefly on the Tragedies. Lincoln, NB: University of Nebraska Press, 1993. Wilson, H. S. On the Design of Shakespearean Tragedy. Canada: University of Toronto Press, 1957.

How Global Economic Environment Is Affecting International Marketers

How Global Economic Environment is affecting International Marketers? ——–By Md. Jafar Sadique, MBA, Southeast University Bangladesh 1. Introduction: International business is taking different shades and is unavoidable today. This dynamic world is rapidly changing to the extent that is has been reduced to a â€Å"Global village†. The truth is, we are going through the most severe global financial crisis since the days of Great Depression. Originated in USA, economic recession is affecting all the major players of world economy. Governments and major policy makers of world economy have taken notice of the urgency of the situation and frantic steps are undertaken to stem the rot. At the core of the term ‘recession’, spirals of several financial mistakes are intermingled. Many global opportunities have arisen because of the clustering of market opportunities worldwide. Organizations have found that similar basic segments exist worldwide and, therefore, can be met with a global orientation. Markets are becoming more complex, workforces and business partners are becoming more diverse, thus challenging professionals not only managers to play a more dynamic role in their international business companies more then ever. Professionals have started to compete in the challenging world of international business management by equipping themselves with advanced studies for international business management and mastering the complexities of managing businesses across cultural and political boundaries becoming highly productive international managers and enhancing their company’s global competitiveness. 1. 1 Origin of the Report: As a requirement for the completion of the course- International Marketing, I need to submit this report- How Global Economic Environment is affecting International Marketers? This includes an overview of global economic environment & present global economic downturn. 1. 2 Objective of the Report: The primary objective of the report is to fulfill the requirement for completion of course: International Marketing. The secondary objective of this report is to understand the global economic environment & present global economic downturn. 1. 3 Methodology: In order to obtain the objectives of this report, secondary source has been used. Secondary data has been collected from periodicals and journals, websites etc. 1. 4 Limitation: Adequate efforts have been taken to accomplish this report according to the objectives. But it was not possible to gather comprehensive information & articles on the given topic, which would obviously give better result. 2. Global Economic Downturn: The words economy and recession have become commonplace terms ever since the fall of the Lehman Brothers group in the USA. The resulting fallout has shattered many companies and left millions of people poor, jobless and homeless. The impact of this global recession has raised many questions in the minds of people. Even those who had no inkling of what the words economy and recession meant are suddenly asking questions. Unfortunately, there not many answers forthcoming, and those that are, are shrouded in high brow financial jargon. 2. 1 What is a recession? A recession is defined as a prolonged period of economic slowdown. This slowdown is characterized by a decrease in the purchase of consumer goods, a decrease in the production of goods, an increase in unemployment, a decrease in salaries and incomes, and an unhealthy stock market. These conditions have to prevail for at least six months in order for an economic slowdown to be classified as recession. 2. 2 What caused the present recession? There are many different factors that actually trigger a recession. Identifying all these factors takes a lot of time and research. However, one of the precipitating factors that have led to the closure of at least 16 major American banks, including the Lehman Brothers, is the practice of issuing high risk home loans. What happened is very simple. Over the years, many banks in the US started the practice of offering home loans to high risk individuals, i. . , individuals who had a high probability of defaulting on their loans. The banks justified this move by saying that even if these individuals defaulted on their loans, the amount could be recovered by selling off the property in question. Over a period of time, many of these individuals defaulted on their payments, as was expected, and the banks put the properties back on the market. However, when so many properties were put on sale at the same time, the property prices, which were already over inflated to begin with, plummeted. The unprecedented drop in property rates proved fatal for banks that had already invested most of their money in these speculative deals, and they were forced to close down. The collapse of these banks is just one of the indicative causes of the present recession. The roots of this recession can be said to lie in over-inflated property prices, oil prices, and commodity prices. Artificially inflated prices are typical of a profitable market. When the market is doing well, the sellers eventually become greedy and raise the prices. All is well, as long as the buyers continue to be able to afford the inflated prices. However, the day the prices reach a level where the majority of the buyers cannot afford them, a crash in the prices, and consequently a recession, is inevitable. 3. Present Global Economic Environment: The year 2008 marks a major transition in global economic and social development with the waning of the era of cheap and plentiful fossil fuels, accelerating pressures on commodity prices, particularly those of food, and worsening impacts of climate change on livelihoods and well-being as well as a slow-down in the growth of the world economy from the 3. 8 per cent registered in 2007 to an estimated 1. per cent in 2008. These factors are increasing inequalities and risk compromising the achievement of the internationally agreed development goals, including the Millennium Development Goals by 2015. Bold and concerted policy action by both developed and developing countries can, however, serve to improve global economic and social performance in 2008 and 2009. Additionally, a reformed i nternational reserve system and better financial regulation and safety nets would help improve financial conditions and confidence to prevent the recurrence of similar crises. . 1 A severe economic downturn: According to the World Economic Situation and Prospects 2008 mid-year update, the global economy is teetering on the brink of a severe economic downturn. The deepening credit crisis in major developed market economies, as triggered by the continuing housing slump, the declining value of the United States dollar vis-a-vis other major currencies, persisting global imbalances, and the soaring oil and non-oil commodity prices are slowing growth of the global economy. Without aggressive and coordinated expansionary policies, a more pessimistic scenario could occur, which could trigger a disorderly unwinding of the massive global imbalances and have drastic implications for global trade and finance. In addition, the steep rise in food and energy costs is compounding the downside risks, particularly in view of the unfolding food crisis, which poses a threat to social and political stability. The dollar may still decline another 15 per cent in value under this scenario in 2008, although slackening demand may dampen further oil price rises so as to achieve an average price of $95 per barrel for the year. What is needed in response to this crisis is a multilaterally-coordinated stimulus package centered on the expansion of domestic demand in surplus countries, while staying within existing fiscal capacity; deep reforms in mechanisms of international financial regulation and supervision; and meeting emergency food needs, while setting longer term strategies for alleviating supply constraints and improving food security. According to Rob Vos, Director of the Development Policy and Analysis Division, â€Å"the United Nations system, including a more inclusive IMF, should take the lead in forging concerted policy action and address the food crisis. A concerted macroeconomic policy action plan would involve reducing global imbalances while avoiding an economic downturn, including a rebalancing of domestic demand between surplus and deficit countries and a smooth realignment of exchange rates. More importantly, the root causes of the imbalances need to be addressed to prevent their reappea rance in the future, through measures such as reforming the international reserve system and strengthening financial regulation and safety nets. A multilaterally-coordinated stimulus package for the global economy would include the expansion of domestic demand in surplus countries as well as more proactive public policies. Several industrial economies such as Japan, Germany, Switzerland, the Netherlands, Norway and Canada, as well as the emerging market economies of East Asia and the main oil exporters can help through expansionary domestic fiscal and monetary policies. Surplus countries can gain much from using their accumulated reserves to generate income, employment and improve wealth distribution at home. For its part, caught between addressing its twin trade and fiscal deficits and the grimmer prospect of a recession that may reduce GDP by 0. 2 percent in 2008, the United States has opted for expansionary domestic monetary and fiscal policies. However, the recovery of the United States economy will also need the external stimulus of increased demand for its exports from its major surplus trading partners through an expansion of their economies. Against the backdrop of the global macroeconomic slowdown, the present food crisis presents an additional threat to human well-being. Addressing the food crisis requires internationally-concerted measures. In addition to the emergency assistance spelled out by the World Food Programme, the Food and Agriculture Organization and the Office of the Humanitarian Coordinator, major policy reforms are required in developed and developing countries to achieve a sustainable solution to the crisis. Abolishing agricultural subsidies in developed countries will probably benefit farmers in developing countries in the long run, despite causing short-term world food price increases. The food crisis reflects both a long unheeded problem of low agricultural productivity in developing countries and the poor’s lack of access to affordable food. In the long run, increasing productivity through investments in water supply, infrastructure, improved seeds and fertilizers, education and agricultural research and development will be essential not only to deal with the present food crisis, but to allay persistent and widespread rural poverty. Improving access of producers to agricultural land, affordable inputs, and infrastructure would increase the productivity of food production and lead to significant reductions in rural poverty and better nutrition. Agriculture must, therefore, become a policy priority at both the national and international levels. For a lasting solution to the current global economic crisis, both financial regulation and the international reserve system also need to be revised. Reforms of both national and international financial regulation and supervision are needed and policy makers need to pay more attention to preventing the harmful effects of financial exuberance. Under present banking and finance rules, risk assessments tend to react to problems after they have occurred rather than foreseeing or forestalling them. By way of example, lenders are required to raise more capital only after liquidity problems occur rather than in anticipation of them. Current national regulations and international regulations such as the Basel II agreements, which have been crafted on risk assessment models developed by commercial banks themselves, are insufficiently geared to address contagion effects of crises across countries and markets or the herd behaviour of financial markets. Deeper regulatory reform, motivated primarily by the public interest, is urgently needed to avert future crises such as the recent sub-prime mortgage debacle and the resulting housing slump. The international reserve system, too, is in acute need of reform. Under the current system based on the United States dollar as the reserve currency, the only way for the rest of the world to accumulate reserves is for the United States to run an external deficit. Over time, such a pattern inevitably erodes the value of the dollar, enhancing costs for countries to continue to hold vast amounts of reserves, and this may well cause a run on the dollar, probably with strong destabilizing consequences that will be felt worldwide. The emergence of a new, supranational currency, based on scaling up Special Drawing Rights, the international unit of account based on a basket of currencies, is probably the ideal solution for redesigning the global reserve system in a stable way, but will require nimble negotiation and considerable building of political will over the long-term. The more immediate and feasible reform would be to promote an officially-backed multi-currency reserve system. By diversifying their reserve holdings away from the dollar, many surplus countries have started to move in this direction. This concept should prove as compelling as the pursuit of a multilateral trading system. Similar to multilateral trade rules, a well-designed multilateral financial system should create equal conditions for all parties and avoid unfair competition and an asymmetric burden-sharing of exchange-rate adjustments. It should also help to increase stability in the international financial system. 3. 2 Lasting systemic reform: The way out of the present global economic crisis will involve coordinated domestic and international policy actions in the short term and deep reform of the financial and trading system in the long term. The present crisis cries out for the type of concerted and people-centred reform that only a truly multilateral system such as that of the United Nations can spearhead. The five-year review of the International Conference on Financing for Development in Doha from 29 November to 2 December provides a golden opportunity to chart out an authentically multilateral and just reform of the international financial system. Likewise, a successful conclusion of the Doha Round of Trade Negotiations so as to favour economic and social development in all countries through a fairer trading system, will also contribute to more stable global economy. Ultimately, it is the active involvement of citizens in developed and developing countries, concerned about the negative welfare effects of financial and commodity crises such as the present ones, which can pressure their governments to affect such systemic reforms with human well-being in mind, rather than financial interests alone. Transparent and inclusive multilateral forums, particularly those of the United Nations system, with broad multi-stakeholder involvement, can show the way. 3. 3 In what way has the global economy changed in the last 50 years? The Global economy has experienced the following changes: ) Capital movements rather than trade have become the driving force of the global economy. b) Production has become â€Å"uncoupled† from employment. c) Primary products have become uncoupled from the industrial economy. d) The world economy is in control. Reasons: a) World trade is some US$ 3 trillion, whereas the London Eurodollar market – alone is some US$ 75 billion per annum and foreign exchange transactions were US$35 billion per annum. Interest and exchange rate – gains are often more lucrative than investment in goods and services manufacturing. b) Employment is in decline while manufacturing either grows or remains static. Sectors are becoming more productive, with injections of capital equipment and new technologies. c) Commodity prices may collapse but industrial economies can be unaffected. d) World trade is recognized as vital to economies as domestic growth slows down and opportunities overseas grow. Growth achievable in international trade is often at a greater rate than domestically and the returns higher. 3. 4 Recent Global economic condition and Bangladesh: At present the overall economic condition of the globe is not of good shape at all and the world is facing this type of economic disaster for the first time after a long period. The first world countries are facing this problem very strongly. Basically after the incident of 1/11 in USA, the economic crisis began to start and it affected the whole global economic condition very slowly. The main reason of this crisis is, the overall economic activities of USA are very much related to the whole world, as its economy is controlling economy of the world. Basically, the western world people are very much familiar with the credit card facilities and the financial intermediaries of that region are very much active for providing this type of facility to the general people by taking a lot of risk. They only believe in â€Å"Risk is proportional to return† and this belief back-fired them and most of the high risk taking financial intermediaries of that region faced bankruptcy. This is just because of very aggressive marketing strategy of those financial intermediaries. They provided loans to the general ultimate consumers very aggressively and could not get it back in the due time that means they provided a lot of flexibility to the customers and their recovery strategy was not so much aggressive. In other words, we can say that the monitoring activities of the central bank of that particular region was not that much strong or rude to recover the provided loans to the customers. They also believe that they have got asset but not enough liquid money and that is why they took risk and the result is the present odd situation. Bangladesh is also starting to face the economical disaster situation, as it is getting grants from the first world countries as well as from their controlled international organization like – WHO, World Bank, UNDP, UNICEF, WTO, IMF and some others. These welfare organizations are starting to stop funding in various less important projects that are already running or going to be started to run in this developing country. Besides, the people outside Bangladesh who are basically Bangladeshis are sending less remittance than the recent past. It causes less money supply in the inside overall economy of this country (Bangladesh). As our country is partly dependent on the foreign remittance, we face a lot of problem for the less amount of foreign remittance. Moreover, our export volume is also becoming smaller and smaller for the global economic crisis, which also shorten our incoming foreign currency and it also affects the overall money supply of the country. Not only that, the first world people is also trying to avoid buying high graded consumer products that means luxury products and they also want to buy the existing market products in the lesser amount than the recent previous time and that is why the bidding price that the garment factories of Bangladesh have got from the outside agents is also becoming lower and it affects the profit margin of them as well as their sustainability. For the global economic crisis, many Bangladeshi people, who are working in the foreign countries, are loosing jobs and they are coming back to their motherland. Besides, many other Bangladeshi people are in the pipeline to loose their running jobs. So, as a whole, we are going to face a very big problem in the upcoming very recent future years. 3. 5 Global Economy Helps The Entrepreneur: The world economy connects us all; regardless of where we live, where we shop and who we work for. When this global economy blooms, we all potentially benefit. But when it declines, we all potentially suffer. The key word in both statements however, is potentially. Because regardless of how all-encompassing the world economy is, we each, to varying degrees, control our own destinies. Turmoil in the international financial markets invariably leads to problems in our own financial markets. So if you work for or are affiliated with a company that does business on Wall Street, or if it's traded there, global financial problems will have a direct affect on your company, and on you. Unfortunately, there is little you can do about this-other than to work elsewhere-because the forces at work are well beyond your control. Conversely, if you work for yourself, you still face potential threats, but you have more control over the outcome. One of the things we're seeing as we approach the 2008 Holiday Season is increasing tension in our domestic economy. Many analysts are predicting that this year's holiday retail sales numbers will be at an all time low. Circuit City, a huge and very successful company, has declared bankruptcy because it can't pay its bills. News like this causes people to tighten the hold on their pocketbooks. Even if they're not directly affected, they reign in spending and assume a far more cautious outlook. This all comes back to your privately owned small business. Even if you're self employed in a bricks-and-mortar business-that operates on Main Street, not Wall Street-it is quite likely that the economic tsunami will reach your doorstep as well. Frustratingly enough, there's not much you can do about it. But we as a nation are entrepreneurial problem solvers. Like our fathers did before us, we face challenges, and overcome them. As you face these financial threats, consider options that will allow you to rise above the fray. Look for a business you can run from home, but that gives you global reach. Find an online opportunity that provides systems, training and support. Look for a solution that can provide long-term financial security and freedom for you and your family. As you consider these options, you'll know what's right, and what's not. Follow your heart-and trust your judgment. 4. How Global Economic Environment is affecting International Markers? An overview: In the past fifty years the global economy has changed rapidly. Particularly marked has been the development of world economic integration and standardized products. Coca Cola, Nissan and Marlboro cigarettes are examples of products which serve nearly every market. Generally there have been four major changes: ?Capital movements rather than trade have become the driving force of the global economy ?Production has become â€Å"uncoupled† from employment ?Primary products have become â€Å"uncoupled† from the industrial economy and, ?The world economy is in control – individual nations are not, despite the large world economic share of the USA and Japan. Taking each of these changes in turn, world trade is about some US$ 3 trillion, however, capital movements are much higher. The London Eurodollar market is worth about US$ 75 trillion per annum and foreign exchange transactions are US$ 35 trillion per annum. Another change is the decoupling of employment from production. Employment is in decline whilst manufacturing output is growing or remaining static at 20-25% of GNP. Sectors such as agriculture, are achieving higher productivity through mechanization but this is at the expense of employment. Still another change is the decoupling of the primary product market from the industrial economy. Many commodity prices have collapsed, for example tea, yet industrial economies have been relatively affected. Unfortunately the prime producers have been dramatically affected. Finally, the most significant change is the change of focus from domestic to the world economy as the chief economic unit. This has been grasped by Japan and Germany, but not really by the USA, or Africa. These factors have repercussions on exporting by developing countries. Firstly with developing countries' emphasis on the export of primary products, they are at the mercy of world supply and demand movements, with the resultant fluctuations in prices. Depressed world market prices can have a deleterious effect on developing economies. Secondly the rapid globalization and focus away from domestic economies has created global competition and in turn, this has pushed up quality. Generally speaking, unless developing countries can break into non-comittally based products they are being further left behind in the global economic stakes. However positively, whilst developed worlds concentrate on industrial and service products it leaves opportunities for developing countries to export more food based products. 4. 1 Affecting factors: Patterns of trade: Most industrialized nations trade with each other. This had led to their continued domination. Particularly the USA, Western Europe and Japan which between them have 66% of world GNP and trade. In 1985 industrialised trade to other industrialised countries accounted for 47% of trade, next came developing countries to industrialised (15%), and finally industrialised to developing countries (13%). Political influences can also be seen between trading partners, for example Zimbabwe's trade with China. Marketers need to identify trading patterns between nations and product trading patterns. East-West trade and West to the former communist bloc is likely to grow at the expense of North-South trade. Balance of payments: This is the measure of all economic transactions between one nation and another. The balance of payments is made up of the current account, showing trade in goods and services; and the capital account, which shows financial transactions. In 1989, after official transfers, the USA had a US$ 109,242 million deficit on its current account, Japan had a $ 131,400 million surplus, Tanzania a $ 778,5 million deficit and Zimbabwe a $ 2,783 million deficit. The balance of payments account helps marketers select the location of supply for foreign markets and the selection of markets. The capital account may show the nations which have control restrictions and hence be difficult to deal with. In this regard, African nations are generally disadvantaged. Government policy: This refers to the government measures and regulations which have a bearing on trade – tariffs, quotas, exchange controls and invisible tariffs. These can cause formidable barriers to marketers and will be dealt with at length later. World Institutions: Institutions like GATT and the United Nations Conference on Trade and Development (UNCTAD) have been of help to countries in their development. GATT had over 120 members and associated and accounted for 80% of world trade. Its intention was to create a general system of preferences and negotiate tariffs for members' products on a nondiscriminant basis and provide a forum for consultation. The Kennedy Round of the 1960s was superseded by the Tokyo round of the 1970s and that by the current Uruguay round signed in 1994. UNCTAD furthers the development of emerging nations. It seeks to improve the prices of primary goods exports through commodity agreements. It also established a tariff preference system favouring developing nations. Regionalism: Regionalism is a major and important trade development. Some regional groupings have either market (EU) or command (China) or mixed economies (former communist countries and The Preferential Trade Area (PTA) and The Southern African Development Community (SADC). With these developments, free trade zones have occurred (all internal barriers abolished) economic unions (the EU), export pricing zones (Mauritius) and other schemes. The major regional economic organisations are: Acuerdo de Cartegna (Andean Group), Association of South East Nations (ASEAN), Asian Pacific Rim countries (APC), Caribbean Community and Common Market (CARICOM), Central American Common Market (Mercado Comun Centro Americano), Council of Arab Economic Unity, Economic Community of West African States (ECOWAS), the European Union (EU), Latin American Integration Association, Organisation Commune Africane et Mauricienne, Preferential Trade Area (PTA) and the Southern African Development Conference (SADC). A principal collapse has been the Council for Economic Assistance (COMECON) with the disappearance of the communist bloc in Eastern Europe. Of these blocs, the EU (reporting 33% of world trade) and EFTA are very important. To counteract the growing power of the EU, the USA and Canada have entered into an agreement with Mexico as a willing partner and created the North American Free Trade Agreement (NAFTA). These blocs are of various form, power, influence and success. ASEAN is a collaboration of industry and agriculture, PTA in tariffs. SADC and PTA have had historically little impact but are now beginning to grow in importance in view of the normalisation of South Africa. The EU, North American Union and the Pacific Rim Union will pose the greatest power blocs in future years. Many developing countries have entered into trading blocks as a reaction against loss of developed country markets or as a base to build economic integration and markets. The development of trading blocs can bring headaches and advantages to trade. It is worth comparing the European Union, a relatively well developed bloc, with SADC and the PTA which are well developed. SADC and PTA are described in a little detail in appendix one and two of this chapter. The international financial system: Global financing operations based on the gold standard gave rise to instability, so Bretton Woods, post World War II, saw the nascence of the International Monetary Fund (IMF) and World Bank. The IMF deals with the International Monetary System. Involved countries joined IMF to establish a par value for other countries in terms of the US dollar and maintain it with +/- one percent of that value. The system fell down because large corporations were holding more funds than banks and so a â€Å"float† set in. IMF began to fade somewhat. However it still lends, on a short term basis, to countries with payment problems to help them continue trading. The World Bank, or International Bank for Reconstruction and Development (IBRD) deals with international capital. It provides long term capital to aid economic development. Currently it has about US$ 22 billion annually for this operation. The role of the World Bank has often been criticised especially on its conditionalities for loans to Africa in funding structural adjustment and trade liberalisation programmes. However many developing countries require institutional funding to help them with trade and balance payment problems. Other major lenders include the EU and bilateral donors and agencies who have provided money for developmental projects. A principal donor is the United States Agency for International Development (USAID). Size of market: General indications of market size include population (growth rates and distribution) and income (distribution, per capita, GNP). a) Population: In general, the larger the population, the bigger the market. However there is no correlation between income level and population. China has 2 billion plus people, India 1 billion, Zimbabwe 8 million. However, they do not have the same income per capita as the USA or UK. In 1993 the USA population of 252. 2 million, the UK 57. 4 million and Africa 400 million, were respectively 6%, 1. 5% and 9% of the world's population. However the USA and UK had an infinitely higher GNP per capita income than Africa, US$ 22,520, UK $17,300 and Africa $ 270 respectively (1989). Different countries experience different population growth rates. In the early 90s, the UK had an annual growth rate of 0. 1%, the Ivory Coast 6%, and Africa in general, 3% per annum. Low income countries and oil rich countries have the largest growth rates. Growth rates have a dual edge – they are good for sales but bad for world resources. The world population, currently standing at 5 billion is experiencing a rapid growth rate. It is expected to reach 7 billion by the end of the century. The strain on world resources is likely to be very large. The distribution of the population is also important. Different age groups have different needs and population density should mean good market potential, the higher the better. The Netherlands have 1000 persons per square mile, Bangladesh 1,791 but the USA only 65 persons per square mile. However, the USA spends more per capita than Bangladesh b) Income: No one has yet been able to assess accurately the impact of the AIDS pandemic on world population and economic activity. South Africa estimates AIDS will cost South African industry R16. 7 billion by the year 2000 (Business Herald – Nov. 24. 1994). Suffice to say, unless a cure or prevention is found, it could be serious, especially in Africa and South East Asia, the world's â€Å"hot spots† Income is the most important variable affecting market potential. Markets are not markets without money to spend. Interestingly, there is an inverse correlation between GNP per capita and income elasticity of demand for food. Asia has a 0. 9 income elasticity of demand and the USA 0. 16. The distribution of income is very uneven. In Kenya the lowest 20% of the population receive less then 3% of national resource. This bimodal distribution of income means marketers must analyse two economies in a country. Per capita measures have therefore, many limitations. Per capita judges a country's level of economic development and its degree of modernisation and progress in health, education and welfare. Half of the world's population lives with an average per capita income of only US$ 270. Per capita is usually reflected in US dollars and is only valid for comparison if exchange rates are equal. Exchange rates reflect international goods and services in a country but not domestic consumption. Another limitation of per capita measures is the lack of comparability with the figures themselves. The US budget contains food, clothing and shelter. In many of the less developed nations these items may be largely self provided and therefore not reflected in national income tables. Also in the UK, snow equipment is included, and this is not, obviously, in Africa and parts of Asia. Other limitations are that sales of goods are not well correlated with per capita income and if there is great unevenness in income distribution, per capita figures are less meaningful. Product saturation can be equally troublesome in affecting market potential. A vacuum cleaner in the Netherlands has a 95% household penetration rate, but only 7% in Italy. International Business in Global Financial Crisis: The subprime crisis of the big power has led to the global financial crisis. It seems that such an expression overstates the strength of the big power. But we cannot ignore the economic globalization which makes economic communities connect with and affect each other positively or negatively. In the financial tsunami hitting every corner of the world, what are the status quo and future trend of international trade? First of all, it is necessary for us to look at the trade chain: raw materials – finished product processing firms (manufacturers) – (suppliers – trade companies) – logistics companies – importers – wholesalers – retailers- end consumers, financial service providers such as banks, and Internet platforms for international trade led by Alibaba. On the chain, all the elements are interactional and can transmit to each other. Price transmission is a key element. Rate of exchange influences trading price. We can begin with importer, one of initiators of trade. With the global financial tsunami seeming to gradually calm down, a procurement manager working with a large company that was founded one hundred years ago talked about their current situation: we are now facing extremely high pressure in retail and need to reduce retail prices of our products in market. The manager urges suppliers to cut down price with three simple reasons: 1. Against the background of current financial crisis, prices of raw materials have decreased; 2. Significant reduction in prices of energy products such as petroleum means lower freight and storage cost; and 3. With the decreasing and stable amplitude of the financial crisis wave, rate of exchange will tend to level off and rise. Then why do suppliers need to reduce their prices? Because the consumption end of commodities is facing much lower purchasing power of the country due to the financial crisis. The information from the consumption end is that the consumer confidence index goes down and end consumer groups (including corporate and individual procurement) reduce their costs, expenses and consumption. With such a weak market, merchants can only use price reduction as their sharp tool to stimulate consumption. Merchants promote psychologically by enabling consumers to buy the same goods as before with less money. Wholesalers and retailers in the middle of the chain deliver goods on the chain from one level to another. During this course, they gain profits and ensure normal circulation of goods. Their sensitivity to price and inventory leads to importer’s action mentioned above. As for wholesalers facing high retail pressure, lower purchasing power and weak sales, price is the only and effective solution to improve sales. As for consumables, those who are able to provide the market with inexpensive commodity with proper quality will have a large market share, no matter they are wholesalers or importers. This is low-price transmission resulting in larger trade volume. With increasingly stable financial community, trade will tend to be active and large in size when consumers have suitable savings and their purchasing power and consumption confidence index rise. Maybe experts and scholars then will conclude that the crisis has ended and economy begins a recovery journey. When it comes to the bulk commodity market, economists say that its bull market has ended since crude oil price peaked. Those people trading at the peak of the bull market have made a great loss due to substantially lower price. The time for them to recover from such a loss may be longer than that for the crisis to come to end. Therefore, goods at low price will be favorites of people in a certain period of time. Next, we will discuss the price transmission from the perspective of suppliers. With the global financial tsunami directly leading to significantly shrunken trade volume, it is truly a thorny problem to retain customers while continuing to make profit and reducing risks and losses in such an environment. To maintain its normal operation, supplier may adjust prices of its products or accept orders and deposit foreign exchange if rates of exchange fluctuate narrowly, waiting for further stabilization and rebounding of exchange rate. They look like those who are bundled to stocks purchased at high prices and wait for being unbundled and reducing loss. Prices of products from suppliers will be influenced by that of raw materials. It can not be ignored that the crisis directly makes many small-and-middle-sized enterprises (SMEs) go bankrupt, or stand on the verge of bankruptcy, or reduce their employees. As an Internet trade platform, Alibaba, which has a close relationship with those SMEs, said that the next few years will be a winter in its operation. A lot of SMEs get orders, generally small ones, through Alibaba. Due to the crisis, there are no longer any small orders from Alibaba for those SMEs. With the economic depression caused by the crisis ensuing the global inflation and big ups and downs of price, the lack of orders has directly led to huge loss of SMEs, especially for those who focus on export trade. As a result, there is a bankruptcy upsurge of SMEs that operate on a high-cost-and-low-price basis. The bankruptcy and shrinkage of SMEs have directly affected the proceeds of Alibaba that mainly provides services for SMEs. Considering this point, the financial crisis also leads to early coming of the winter of Internet Business-to-Business E-commerce. Internet E-commerce seeks for breakthroughs in a new operational mode while waiting for its spring. What about logistics companies between importers and suppliers? Suppliers or importers have a direct business relationship with those logistics companies. Significantly shrunken volume of freight causes the over-capacity of those shipping companies and forwarders. There is even zero trade freight for transporting goods to the countries near the ocean. In fact, freight is paid by importers. However, for now, transport cost is significantly lower than ever before. Similar to sea-borne and air-borne shipment, international express business has witnessed a big drop in delivery of samples and documents resulted from decrease in trade. It can be seen that most parts of the influenced trade chain will incur loss. What about banks? It is impractical to say that the destruction in trade will lead to weaken business of banks. At most, banks will have less volume of business in loans and export bill purchase. It is financial derivatives that are affecting banks, seemingly not in the same field as trade. Financial crisis is a situation where the capital chain of financial system breaks. Superficially, there is not enough currency in an economic system. Actually, the reason is that the circulation of currency is not good. Superficially, companies or merchants do not have funds or lack funds and cannot get loans from banks. Money can not flow freely. These have led to the fact that companies go bankrupt, or reduce their size of production, or even slow down their trade expansion. The shrinkage in production and manufacturing industry can be seen directly from less orders and substantially reduced procurement volume of importers. On the side of retailers, they sell their inventory as soon as possible, sell at discounted prices to recover cash, and control inventory or even keep zero inventory. As the financial turbulence hit normal trade circulation, it results in the big fluctuation of exchange rate and depreciation of currency. As a result, the procurement cost will be higher. Trade is hit severely by both increase of purchasing cost and decrease of purchasing power. At this time, merchants need inexpensive goods more than ever before to compensate the loss caused by the financial shock. If the sales volume of low-price goods soars in one country or region, trade friction between trading countries will come forth, without exception during the time of financial crisis. If there are too many imported goods in a country, this will directly lead to the rise of trade protectionism and more trade barriers that violate the principle of free and fair trade. In the previous crises, countries set trade barriers to hold back low-price goods from exporters, with the purpose to protect its local industries from being hit, to lower unemployment rate, and to avoid spread of crisis to a larger scope. Such measures based on individualism will conversely further the depression of global economy. The measures, aimed at protecting domestic or local companies, are not good for recovery from a crisis. It will take longer for the economy to recover when it falls to the bottom. In this financial crisis, headlines of newspaper report that governments have invested a huge amount of money to rescue the market and central banks have greatly lowered interest rate consecutively to stimulate economy, drive consumption, avoid long-time economic depression, abate financial fluctuation and reduce the huge damage brought about by the crisis. At this very moment, it is both a risk and an opportunity for international trade. Risk means that companies and banks may go bankrupt at any time while opportunity means that consumers of the world need more low-price goods. The bull commodity market of the world has ended. It seems to tell us that people need to have more inexpensive goods with good quality when facing lack of money. Under such an economic environment, how do companies on the trade chain face the situation? After each crisis, there are cheap shares and assets everywhere. It is perfect time for companies to reconstruct, merge and acquire. Those companies with abundant cash flow will expand and develop themselves at this time through the measures mentioned above. Exporters shall seize opportunities to cooperate with international brand companies. Strength of low cost will play a more important role in future trade. 4. 2 Major Factors That Impact International Project Selection & Implementation A company that chooses to implement an international project is obligated to conduct a thorough research in order to understand if such project is viable and can be brought to life in a certain country. Numerous factors have to be taken into consideration and investigated; it has to be done objectively from the point of view of the host country in which business will be performed. Thus the home company can ensure the realization of the project in specified terms with regards to projected profits and spending funds. While analyzing foreign environment companies have to pay close attention to various factors that will effect, or help if used efficiently, future success of business in a new economy. First of all it is necessary to carefully examine the firm’s competitive position and understand if a project is able to bring profit in the global industry. Adequate financial resources, successful global ventures in the past, risk levels that a company is able to undertake and growing international demand are those few questions that need to posed before a firm can make any projections as to doing business abroad. There are also factors that are directly connected to specific projects and situations and that influence the outcome of the venture and have to be considered. In case when a company is ready to start international project in terms of its internal situation, it has to study issues and challenges that are caused by macro economical and other environmental factors. Legal and political factors are essential for the implementation of the project abroad and each country has its own laws and regulations that could be of negative or positive influence which greatly depends on the nature of business. Economic condition of the host county is a core issue in deciding where and when project will be carried out and if it is feasible at all. Such environmental issues as GDP, inflation fluctuations and population growth have to be considered in order to comprehend conditions in which business will operate. Infrastructure and geography are among other factors that will affect the project or not allow its execution in case a host county has severe weather conditions or undeveloped infrastructure; for instance unpaved roads and no electrical power can easily fail the project in the very beginning and thus knowing such conditions is necessary. Security of the country in which project will be developed is essential as well, people make things happen and if they are in a dangerous environment it is priory impossible to do business. Workers who are knowledgeable about cultural differences in a host country are more likely to perform successfully as traditions and holidays can play a huge role in certain marketing campaigns and serve for the good image of the company. Working in a foreign country requires a great deal of preparation and assessment of all possible differences that business is about to encounter. As was already said major role is deciding whether of not the project will be successful is comprehending macro environment of a new country. Studying its economical condition, security levels and infrastructure system is a core competence of a company who wants to be more successful that its competitors. In case when all of those factors are studied and considered advantageous for a new enterprise it is important to bear in mind that cultural differences can make all efforts void. Thus such countries as the United States must attentively analyze what changes have to be made in the business plan and what people are best suit for the its implementation. Often companies hire professionals already experienced in such ventures with foreign education who speak two or more languages. Those intermediaries who are familiar with host country’s traditions and have social connections are great helpers in establishing a good image of the company abroad and in avoiding mistakes in a setting up period. Selecting and training employees for the international project is very important for the future success of the company. Culture shock and coping with it are issues that have to be addressed to potential workers because people who cannot sleep at night of nervous breakdown are unable to work effectively. Consequently firms need to inform and train employees how to cope with cultural diversities and benefit from them to better manage in the new environment. Multiplicity of the factors that have to be thought through by the international project managers can be outstanding but successful implementation will be rewarded by monetary and personal contentment. 5. Finding New Opportunities in the Global Economic Crisis: The current global economic crisis is forcing many individuals and businesses to seriously reconsider their strategies for economic survival. Much like the giant meteor that scientists believe hit our planet around 65 million years ago and caused the extinction of the dinosaurs, major catastrophic events tend to spell tragedy and disaster for most of us, but they can also reveal hidden opportunities for those of us who can adapt to the new circumstances in their environment. When the dinosaurs vanished, for xample, small little furry animals survived, multiplied and evolved to take over the planet. In this article, I want to list several doable options that can help you create long-term financial security in today's uncertain economic climate. Step 1 – Accept and Embrace Change The world changed significantly around 20-30 years ago when the Internet started becoming more popular. Since then, although many people migrated and evolved into â€Å"Information Age† thinkers, many more unfortunately chose to stay loyal to â€Å"Industrial Age† principles and beliefs – a paradigm that was rapidly becoming obsolete. If you are still clinging to â€Å"Industrial† Age concepts like the idea that a good academic education will lead to benefits and job security, then you may be leaning towards experiencing a fate similar to that which befell the giant lizards after the meteor struck. Regardless of where you are at, the solution is to accept that the world has indeed changed, then embrace the â€Å"Information Age† unconditionally and without making excuses (i. e. too old, too busy, too broke, too late), and start looking for new opportunities with a more â€Å"entrepreneurial† mindset. I am not necessarily suggesting starting your own business if your core value is to find financial security through employment. There are always opportunities for people who can add value to other businesses and these are generally the last people any employer will want to let go of when times are really tough. Step 2 – Start An Online Business Once you embrace the â€Å"Information Age† there should be no doubt in your mind that, regardless of whatever else you plan on doing, you should also start seriously considering creating one or more streams of income online. There are seven ways of starting a web-based business: ) Start A Blog – A â€Å"blog† (short for â€Å"weblog†) is a very easy way to get started online. Essentially, the general plan is this: a) set up a blog, b) start posting regularly about a particular and hopefully profitable niche area of interest, c) monetize your blog to generate a revenue stream. There are many great resources y ou can find online to help you profit as a blog writer. So †¦ get blogging! 2) Become An Affiliate Marketer – Affiliate marketing can be very appealing to many people starting out doing business online, because you don't need to own your own product and, in many cases, you don't even need to have a website. You simply market someone else's products using a special coded link with your affiliate ID, and every time a product gets purchased using your affiliate link, you get paid a commission payment for the sale. Like anything else, to become successful at affiliate marketing does require a certain amount of work, knowledge and skills, but all the information you need is out there. You can purchase e-books, e-courses or join online membership sites to learn how to become a better affiliate marketer and it's not at all costly to get started. ) Set Up An Online Store – Millions of people and businesses are selling stuff online everyday. If you have something you would like to sell online, consider starting up an e-commerce store with eBay, Etsy. com, Yahoo stores, or a number of other places. Some years ago my wife started a little part-time eBay business and, before too long, she was negotiating product shipments with manufacturing companies in China and leaving our neighbors wonder ing why so many courier trucks were driving in and out of our street every single day. Even if you decide to start a traditional business, there are many cost-effective opportunities for expanding online, and e-commerce is definitely an option to consider. 4) Start Up Your Own Online Community – The recent phenomenon of social networking is creating unprecedented new opportunities for people online. One of the most recent trends is to start your own online community, targeting a specific area of interest. For example, I recently started an online social networking community site for beaders (www. BeadHuddle. com). This site grew to over 1,000 members in the first six weeks after launching and it now has beading enthusiasts from all over the world, as well as craft-related advertisers. If the idea of owning your own community site interests you, I recommend you visit www. SocialBusinessWeb. com and download a free report entitled â€Å"How To Profit With Your Own Social Networking Site† that will show you how to get started. 5) Create And Sell Information Products Online – This option is similar to starting your own e-commerce store (e. g. Bay), but the focus here is specifically on creating digital information products that can be downloaded online. Examples of digital products are e-books (electronic books) and information reports, audio books and podcasts, video training products, membership sites, software and web services, etc. Once again, there are many great resources available on how to do this successfully and, if you do create a winning product, it can be an extremely re warding and profitable venture, since most of the business can be automated through the use of systems, software and outsourced suppliers. I have personally developed a couple of information products over the years that sell regularly online and, since there are no costs associated with areas like shipping and delivery, every sale I make is pretty much 100% profit. 6) Buy A â€Å"Ready-Made† Online Business – If the idea of building your own online business seems too overwhelming, there are many online â€Å"turn-key† businesses available which you can simply purchase and start operating fairly immediately. Just like buying a regular business, however, you need to exercise due diligence and research the business, the vendors, the market and the opportunity before you hand over your money to anyone promising you an â€Å"online money-making machine†. Ready-made online businesses can range from simple reseller web sites that include a home page with the sales copy, a zipped file containing the product that you then upload to your own server and a download page where you send customers to after they successfully complete a purchase, to complete online â€Å"franchise-like† stores. Often, the cost is surprisingly affordable. For example, in 2005 I bought an online retail store outlet that sells thousands of downloadable audio book titles from best-selling authors and leading audio-book publishers for $1,000 dollars. Today I make regular sales of audio books from this store (www. AudioBookOne. net) and the best part of the business is that everything is handled for me by the parent company (e. g. stock selection, product delivery, customer support, etc †¦ ) for a small monthly fee. ) Become An Online Service Provider – If the thought of being an online entrepreneur running your own business seems too risky for you to consider at the moment, then why not continue working for others, but transfer your skills, knowledge and experience to the online sphere? There are many opportunities for working online for other companies. One growing trend, for example, is the outsourcing of tasks like creating, managing and updating web content, providing search engi ne optimization and online marketing services, business training and consulting services, etc. The work can vary from doing routine tasks that other business owners would rather outsource to someone else, to providing mentoring and helping others become successful online (this is definitely an option to consider as you gain more experience and success online). Step 3 – Don't Stop Learning, Growing and Improving The Information Age is constantly and rapidly evolving. This means not only keeping abreast of new developments and trends, but also keeping an eye open for new economic opportunities for growth, success and expansion. Fortunately, you don't have to do it alone. There is a plethora of social networking groups, online communities and membership sites you can join, that focus exclusively on your particular area of interest. If you've been feeling depressed lately about the current state of the global economy, then hopefully this article will help you see that there are many positive and exciting things to be gained if you are willing to embrace change, start looking for new opportunities and make a decision to take action steps today to secure your own financial future in the new world that is emerging around you. . Managing Global Economic Challenges: The modern day global economy is a highly interconnected one. With the increased connectivity the challenges before the global economy has achieved an altogether new dimension. On one hand is the positive impact of instant access to the global information network. On the other hand, market volatility is using the economic inter linkage channels to spread like wildfire. The International Monetary Fund revised down the estimated world growth rate for 2008. This was a fall out of the US sub prime crisis. At present economies through out the world is facing stock market volatility and rising unemployment figures as an after effect of the US crisis. As per estimates, around one billion people worldwide survive on less than a dollar per day. Over one billion do not have access to clean water. Basic sanitation facilities are absent for around 2. 4 billion people. Around 5 million children worldwide die from starvation. To sum up, the challenges before the global economy are by no means simple. Timely intervention in the form of appropriate policies and fiscal help from the world bodies are needed to tide over the crisis. No less important is the political will needed for the seamless implementation of the policies. Poverty ?Sub-Saharan Africa has been witness to the most severe form of poverty. Nearly 50% of the population survives on less than $1-a-day. Malnutrition, internal conflicts, dreadful diseases like AIDS and improper governmental measures are the main reasons behind this extreme poverty. ?As far as poverty goes, it is the Southeast Asia that comes next to sub-Saharan Africa. Around 85% of the total population of the Southeast Asia survives on below $2-a-day. Despite 50% of population living under $2-a-day, the number of poor people in Eastern Asia and Pacific has declined significantly in recent past. It is mainly due to the social and economic progress achieved by China over the passage of time. ?When it comes to Latin America, inequality in income distribution resulting from poverty is a matter of great concern. ?Some 300 million of India’s people still live in abject poverty, and another 300 million hover precariously above the poverty line. One challenge is to reach the poor with programs and policies that work Inflation ?Considering the failure of US sub prime market and the subsequent recession in US economy, controlling the increasing rate of inflation is the greatest challenge that the world is confronting for some time now. ?The Indian and Chinese governments are taking care of the inflationary situations very seriously. In Europe, interest rates have been maintained at higher side to keep inflation under control. ?Fiscal policy measures like reducing government expenditure and increasing rate of taxation can also be used to check inflation. Attempts are on to bring about regulatory changes to face the challenge of inflation. Inequality ?Globalization is considered by many to be the main cause behind the perpetration of an increased income inequality in wide areas of the globe. ?However, an increased trade globalization has only worked towards the eradication of this inequality. The need of the hour is policies, which will ensure that the proceeds from technological innovation and globalization are distributed among the cross section of a country's population. ?Developing countries are primarily agriculture based and they can promote gricultural exports for reaping the benefits of trade liberalization. Climate change ?Environmentalists all over the world are trying their best to protect the planet from the adverse effects of climate change. The European Union has played a crucial role in these movements. ?The primary objective of the Convention has been to urge the developed nations to check the emission of greenhouse ga s. The target regarding greenhouse gas emission that has been set in Kyoto Protocol needs to be achieved within the period of 2008-2012. The European Climate Change Program or ECCP in another major initiative towards environment protection. ?However, to control the emission of greenhouse gas it is necessary to create general awareness among the common people. Substantial change in energy system, use of environment-friendly technologies in production, alternative energy efficient fuels, minimum use of fossil fuels and change in the pattern of living are the key factors that can bring about positive changes in environment. Rising food prices The urban poor will be affected the most due to this rising food prices. In most of the sub Saharan country, the common trend is that the farmers leave their land and head to other lines of production in the urban areas. According to the World Food Program, the countries that are most affected are Eritrea, Gambia, Togo, Cameroon, Niger, Senegal, Zimbabwe, Haiti, Myanmar, Yemen, Cuba etc. Trade- key to lower food prices ?Opening up of economy or trade liberalization can help to reduce food prices. ?Different countries have adopted different measures of trade in order to deal with the escalating food prices. Saudi Arabia has resorted to import tax cuts on wheat from 25% to zero. Tariff is also decreased for dairy products, vegetable oil and poultry. ?India slashed its tariffs on maize and edible oils. Export of rice was also stopped leaving out the high value basmati. ?For the last 2-3years India has to fill the demand supply mismatch in food through imports. There are high exporting countries like Ukraine, which are also imposing export restrictions on its food products. Afflation in the global economy: ?Structural changes within an economy are an important reason behind Afflation. There is a rise in per capita income in the populated countries like India and China. Consumption of food grains as feedstock has also increased. ?According to the International Grain Council, the world grain production would reach 1660m tones in 2008, which exceeds the previous year by 90m tones. Even then demand is likely to outdo supply. ?Inflation in the agricultural sector can be attributed mostly to crops like coffee, corn, wheat, and soybeans, sugar, cocoa and meat and poultry products. Trend in demand for and supply of food grains: It is estimated that the world population will rise by 800 million per decade till 2025. The production of food grains is expected to rise to 2. 6