Current State of Technology Essay

Apparently, the business establishment is currently using the traditional manual system of sales service processing. That of which includes an everyday set of recording and as an old practice it is unreliable because if someone forgets to write orders/sold products it can affect the outcome of the records. Considering that it is a small line of business, technically speaking there is a less need of those requirements. The problem arises when recently, one of the staff of the water station misplaced the records of the sales. Over time, they notice that the current manual system they’re using is not that reliable. In order to help the establishment to have a reliable and hassle free way of recording the sales, we recommended to the establishment to use POS system (Point of sales) to have easier recording of services. In this system, the establishment can record the sales every day, print daily reports and have a secure and easy to access data. After the installment of the system, we would continuously monitor the system and the establishment in order to maintain the quality of the system. The usual practice was to record the sales everyday on a sheet of paper based on the orders/item being bought in the store. In a regular day, staff record every item that are being bought in the store then it will be submitted to the owner. So, based on the above information, it would take a certain amount of time and effort for the system to be developed and become useful resolution for the company’s current problem. The Owners demanded a reliable and hassle free way of recording their sales everyday;

Calculating Correlation Values for Categorical Data

Calculating correlation values for categorical data In order to find the correlation values for the fields in our data set, The Pearson Correlation Coefficient was used. This requires that the data in both fields be quantitative. But what if we were looking to calculate the correlation on two given fields that were say, numerical and categorical, or even both categorical. The Point Biserial coefficient is a special case of The Pearson Correlation Coefficient; it is a branch of PCC although they are mathematically equivalent.It is used when one field has quantitative data and the other has categorical values, specifically categorical data that can only be one of two options for example gender. To calculate the PBC the data is divided between the two values of the dichotomous data, where the two values of this field are given the values 0 and 1. The distribution of the data will in general show the frequencies for each value and can be used to show how well two fields are correlated.Sp earman’s Rank Order Coefficient is a method of estimating correlation between data that is nominal and importantly must be ordered. It checks how well the relationship between the two fields can be described using a monotonic function Another method for calculating the correlation is the Chi squared Test, this requires data to be classified and frequencies worked out in a table. From this table the correlations can be determined using the Chi Square Test, this works on any pair of nominal or categorical fields

Kodak Essay

Foreword During 2011, Kodak was under intense pressure to survive in the digital imaging business. As professor Burley describes, ‘Kodak was caught in a perfect storm of not only technological, but also social and economic change’ (Neate, 2012). As of Thursday 19 January 2012, Kodak filed for bankruptcy protection (Neate, 2012) and has until 2013 to reshape its business and exit out of the bankruptcy plan (Business Spectator, 2012). Introduction Eastman Kodak (Kodak) was once a leader (Finnerty, 2000) and legendary brand in the photographic film industry (Associated Press, 2011b). It used the catchy slogan â€Å"You press the button, we do the rest† (Kodak, 2011) to successfully market its digital camera products. It employed as many as 145,300 people and sales as high as $16 billion when it monopolized the US photography industry and became number one in the industry in 1988 (Dobbin, 2011). Recently, Kodak lost 90 percent of its market value (Weiss, 2011) and is facing the threat of extinction (Associated Press, 2011b). In this case study, we propose and defend a recommended strategic direction for the company to implement in the next three to five years based on a balanced assessment of the company’s options. We first conduct a detailed analysis of Kodak’s internal and external environments to understand the opportunities and threats facing the company. Analysis Kodak has tried to transform itself from an aged old film technology business into a fast and digital cultured business but has failed as a result of decline in sales in the United States (Deutsch, 2004). It is still trying to play catch-up with rivals (Associated Press, 2011b) such as Canon, Sony and HP for the past 15 years. Its current products and services span across digital cameras, inkjet printers, sensors, retail kiosks, workflow and business process services and software through to consumer, professional photographic film, paper processing chemicals and industrial materials such  as films for printed circuit boards (Kodak, 2010). Through the help of drug and discounts stores, Kodak was able to add self-service kiosks to encourage people to print their own digital photos (Deutsch, 2004). Kodak formed strategic joint ventures with companies like Sanofi, AOL online (Grant, 2005), and most recently in 2007 Cinelabs (Beijing) Ltd (Kodak, 2007). It has tried to acquire several s maller successful companies such as Ofoto and Practice works to fill in the missing pieces of technology and markets that it did not have capabilities in (Deutsch, 2004). Strengths Kodak has several strengths to distinguish itself from rivals. Kodak has superior brand recognition (Aaker, 1992; Deutsch, 2004; Grant, 2005) as compared to rival brands such as Agfa based on US consumer reports (Simonson et al., 1994). Its brand was supported by its massive worldwide distribution presence through retail photography stores, film processors and professional photographers which provided Kodak with the competitive advantage (Grant, 2005). Kodak leads in the higher-end photo quality camera segment (Smith, 1999) where it launched its major innovations in imaging (Grant, 2005). Traditionally, Kodak has strengths in photofinishing services and consumables such as paper, ink and chemical technology (Grant, 2005). This is derived from a rich portfolio of 11,000 patents (Associated Press, 2011b) derived from a strong R&D investment during the early 1980s (Grant, 2005). Kodak was financially secure with cash flows flowing from its existing photography business during the early 1990s (Grant, 2005). Weaknesses On the other hand, Kodak has weaknesses. Kodak avoided taking risks, they were not innovative enough and relied on existing procedures and policies to maintain standards (Gavetti et al., 2005). They were slow to bring new products to market (Grant, 2005). Its retail network of stores was a depreciating asset due to the increase use of home computers, email and print technologies (Grant, 2005). Kodak focused too heavily on the extremely competitive entry-level market and failed to develop innovative products fast enough (Grant, 2005). Its product development and sales departments were fragmented and scattered over many divisions (Gavetti et al., 2005). Subsequently, Kodak’s middle managers were resistant to change and did not understand the digital world (Gavetti et al., 2005; Lucus & Goh, 2009).  Kodak managers ignored analysis work based on information gained from Kodak’s eroding market share (Gavetti et al., 2005). Kodak managers lacked vision and strategy (Gavetti et al., 2005). Opportunities A few opportunities exist for Kodak. It can build consumer trust in digital that Kodak already has in film (Smith, 1999). Kodak could focus on its core business and develop new technologies (Gavetti et al., 2005) and new products (Deutsch, 2004). Threats However, Kodak will suffer long term threats to its core franchise in the film business if it does not extend its brand name to digital (Smith, 1999). IBISWorld forecasts the demand for physical photographs would fall due to improvements in digital technology (IBISWorld, 2011). Kodak has been in battles with other competitors such as Sony over patent infringements (Deutsch, 2004; Associated Press, 2011a). It has been struggling with a price war between strong competitors such as Fuji Photo Film (Smith, 1999) in the photographic film industry. Industry analysis – Porter’s five forces Threat of Entry An analysis of the industry using Porter’s five forces shows that threat of new entry is moderate. Significant investment in capital would be required to enter a new industry (Select Knowledge, 2001) such as the digital imaging and photography industry. Printing equipment such as hardware, software, photographic paper and chemicals is estimated to be 45.7% of purchases versus wages at 26.8% of revenue (IBISWorld, 2011). New entrants would lack experience and knowledge in key areas of digital imaging and photography such as technical and business knowledge (Greenwood, 2008). Buyer power The buying power of consumers is high especially for consumer electronics (Skoloda, 2009). Buyers are given a range of differentiated digital camera products from a number of companies (IBISWorld, 2010). They expect better offerings and customization of goods and services (Fraser, 2007). Supplier power Supplier power is low. A lot of the suppliers are located around the world  both locally and internationally. Kodak has several supplier contracts spanning one to three years (Kodak, 2010). However, there are single or limited sources of finished goods manufactured and purchased by the company’s third party suppliers which may pose a risk for the organization (Kodak, 2010). Unique suppliers can reduce industry profitability (McGuigan et al., 2010). Threat of substitution The threat of substitutes is high. Companies are quick to match specifications, features and pricing (Select Knowledge, 2001). There are minimal switching costs between brands or substitutes as buyers can change to new updated models based on reasonable buyer perception (Select Knowledge, 2001). Competitive rivalry Competitive rivalry is high. Kodak’s faces intense competition from rivals such as start-ups (Grant, 2005; IBISWorld, 2010; Smith, 1999;) and major competitors are Canon, Fuji Photo Film, Hewlett Packard (HP), Nikon and Sony (Gavetti et al., 2005). Similarly, Kodak is competing in similar segments with rivals – Hewlett-Packard (HP) to provide digital printing technology to consumers and commercial businesses (Weiss, 2011). Kodak (2010) states that competitive pricing and rising commodity prices has contributed to the negative results for 2010 across its prepress solutions, digital capture and devices, and entertainment imaging (Kodak, 2010). External Analysis There are several external (political and legal, economical, socio-cultural and technological) factors which impact Kodak’s business model. Political and legal  Laws and government environmental regulations have an impact to the way Kodak operates in several different countries. For example, U.S federal legislations such as the Toxic substances control act, clean air and water act etc. impact the way Kodak manufactures products and process waste for proper disposal (Kodak, 2010). In 2003, it needed to form a committee to reduce odours which descended towards nearby neighborhoods (Kodak, 2006). Economical From an economical view, the decline in prices has made it affordable for  consumers to purchase digital cameras (IBISWorld, 2010). However, forecasts show that standalone digital cameras have reached a state of market saturation with little room for future growth (IBISWorld, 2010). Socio-cultural and Technological Digital cameras became an integrated and standard feature in mobile phones (IBISWorld, 2010). Increasing trends show that consumers are taking and sharing photos on mobile phones daily (Okabe, 2004). The archiving and exchange functions for photos have been facilitated by online communities and social practices (Scifo, 2009), such as Facebook (Upbin, 2011), and mobile social-media applications (Naaman et al., 2005). Intense competition between rivals is expected for new 3D camera technology on mobile phones (AFP, 2010). Strategy, approaches & implications In order for Kodak to sustain a competitive advantage, it needs to strategically transform its entire business model around to capture new and unique growth opportunities. There are several options which Kodak can explore to achieve this strategy. The options below focus on structural changes in the industry and resources (skills and capabilities) in the organisation. Business Process Re-engineering (BPR) Kodak can reconstruct the organisation using business process re-engineering practices. Its current traditional photographic business is vertically integrated (Grant, 2005). The organisation can be redesigned from a vertically to a horizontally integrated organisation through process-oriented organizational restructuring, offering a more low-level flat organisational structure (Wu & Li, 2011). The result gives improved efficiency and business simplification (Wu & Li, 2011) for Kodak to compete effectively in a tough competitive environment where it needs to quickly deliver innovative products out to market. Kodak can focus on its real core competencies in film chemistry, production and processing (Garrett, 2010), so that it can create new markets, products and services. BPR gives obvious benefits such as the reduction in complex bureaucracy in the organisation (Wu & Li, 2011). However, as cited by Greenberg (2002), there are limitations in BPR such as resistance to change, lack of ma nagement support etc. (Schniederjans & Kim, 2003). Rebranding Other opportunities exists for Kodak, it can change its name from Eastman Kodak Company to say Kodak Communication (Deutsch, 2004), or as Hopelain suggests, it will need to establish a separate Kodak Technology brand (Deutsch, 2004). An organisation’s strategy and operations will be potentially impacted by the scope of corporate rebranding (Burke et al., 2011). Stakeholder commitment needs to be achieved for the revised brand to be successful (Burke et al., 2011). It will involve staff in planning for proposed changes and training employees for changes (Burke et al., 2011). Any rebrand will impact the value of the brand (Davis & Baldwin, 2006). Rebranding will involve a lot of communication and stakeholder involvement (Davis & Baldwin, 2006). Poor corporate rebranding can be a high risk (Davis & Baldwin, 2006) for the organisation where core values may not integrate well into the new brand (Burke et al., 2011). Leadership and organisational learning Kodak will need to train staff, especially managers in weak areas on vision and strategy (Gavetti et al., 2005). For example, managers can be taught ‘design methods’, to generate growth, evolve, and react as the marketplace (Rahim & Rahim, 2009) and user needs changes so that the business model can evolve to bypass extinction (Fraser, 2007). Similarly, Apple evolved with the user to new opportunities, it did not live to the constraints of its current business model (Fraser, 2007). Subsequently, Kodak will need to discontinue some of its products, especially in saturated markets such as digital cameras (IBISWorld, 2010) where profit margins are low (Pride & Ferrell, 2007) and competition is fierce. It can better utilise its resources and real core competencies (Garrett, 2010) to make it difficult to imitate its products (Prahalad & Hamel, 1990) and demonstrate leadership. However, leaders would need to be able to influence teams indirectly through climate and culture in t he organisation (Kaiser et al., 2008). Technology enabled transformations will affect the importance of organisational culture (Lucus & Goh, 2009) where hierarchy and standards provides resistance to disruptive technologies (Lucus & Goh, 2009). Joint ventures and outsourcing Kodak can form joint ventures with other companies. It can create new emerging industries or new value propositions, alliances and collaboration – to be form by complementing and adding to its capabilities and resources (Camillus, 2000). It can capitalise heavily on its existing patent portfolio (Deutsch, 2004). Kodak will need to outsource a lot more of its manufacturing (Deutsch, 2004), while part-time and casual staff can lead to the reduction of labour costs (IBISWorld, 2011). Extreme care needs to be taken where processes of high strategic importance should not be outsourced (Sounderpandian & Sinha, 2007). The result will allow Kodak, to develop new competencies for future developments and sustain the importance of long-term success (Utterback, 1995). Recommendation To sustain competitive advantage, Kodak needs to strategically transform its entire business model around to capture new and unique growth opportunities. It is recommended that Kodak, take the BPR and organisational learning approach, to improve efficiency and simplify the organisation; leadership to communicate and influence vision and change (Bolman & Deal, 2008); to capture new business models and better match user needs and economic value (Fraser, 2007). Larsen & Leinsdorff (1998) research suggests that BPR and organisational learning work well together (Larsen & Leinsdorff, 1998). Though, developing a coherent strategy is not going to be easy for a digital imaging business (Grant, 2005) like Kodak. It will be Kodak’s last chance to ‘reinvigorate their human capital to get ahead of the curve’ (Fraser, 2007, p.67).

Obesity and Physical Activity Essay Example | Topics and Well Written Essays - 500 words

Obesity and Physical Activity - Essay Example In fact, of a recent study done on city ranking, which ranks some of the largest metro areas against each-other, the Twin Cities ranked 46 out of 46 for levels of deaths associated with Heart Disease. The actual count comes down to 109 deaths per 100,000 people, compared to the number 1 city (which is Detroit) having 236.4 heart disease deaths per 100,000 people 2. There are multiple reasons why the levels are so low, but probably one of the largest reasons has to be the low levels of air pollution and the emphasis on physical activity within the Metro Area. Many schools across the metro have been cracking down on teaching students about physical activity, and often there is not much else to do in the winter time anyway. A lot of people love to take walks early in the morning to get used to the cold so that it doesn't bother them throughout the rest of the day. Not only that, but the community has become strongly involved in the spread of information about obesity and physical activity. In fact, there is a number you can call to hook up with Health Partners in the Twin Cities and speak about obesity as well as request several documents and fliers to hand out to people. Health Partners also offers educational training courses and public announcements as well through this hot-line.

Assess the importance of foreign capital and overseas emigration for Essay

Assess the importance of foreign capital and overseas emigration for the economic development of Germany in the 19th century - Essay Example Following the political and economic restructurings experienced in Germany during the mid-1860s, Berlin developed as Germany’s financial center (Stone 1999, 788). Transfer of commodities, people, capital as well as ideas characterized globalization in 19th century across continents. Germany was well known to be an important financial center after the Deutsche Reich, which was founded in 1871 following the war between Germans and the French. A territory was then established and defined persistently until 1914. Despite the political unification of Germany after the war, most areas of economic life were harmonized afterwards (Clark 2003, 176). In 1873, gold standard was introduced in Germany and a year later followed by creation of central bank, the Reichs bank. The period between 1870 until 1914 was characterized by a great economic expansion in nearly all sectors with a further shift from an agricultural to an industrial economy along with concentration of powers, enterprises and capital. This rapid expansion in economy was primarily the cause and consequence of the fast growing population and with the evolution to an industrialized economy leading to increased urbanization rates. Germany experienced net migration outflows until the mid 1890s when it turned into inflows until 1908. In 1883-1913, Germany invested roughly six hundred and eighty million capitals in British pounds in foreign securities that translated to an average of twenty two million pounds per year. This capital was predominantly invested into European countries but also other regions obtained considerable amounts of capital. In the middle of 19th century, private banks were the main financial intermediaries for foreign securities, but were later displaced by the joint-stock banks. The large majority of foreign securities were bonds and the main issuers were governments and railroad companies to Germany’s neighboring

English Legal System & Practice Essay Example | Topics and Well Written Essays - 1000 words

English Legal System & Practice - Essay Example 3) Ordinary words must be construed in their common meaning, and technical terms are to given their technical meaning, unless absurdity would result (golden rule). 4) When an Act has a curing of defect in the law for its purpose, any ambiguity shall be resolved in such a way so as to fulfil that aim (mischief rule). 5) When a list of specific items that belong to the same class is followed by general words, the general words are to be regarded as confined to the other items of the same class (the rule ejusdem generis (â€Å"of the same kind†). 6) When a list of specific items is not followed by general words, it is to be regarded as exhaustive (the rule expressio unius est exclusio alterius (â€Å"the inclusion of the one is the exclusion of the other†). 7) When a prior Act is found to be â€Å"on the like matter†, it can be used as an aid in construing the statute in question (the rule in paru materia, â€Å"on the like matter†). 8) When a word or group o f words has uncertain meaning, its construction should proceed in the light of its surrounding words (the rule noscitur a sociis (â€Å"known by its associates†). (â€Å"Rules and Principles of Statutory Interpretation† 295). In addition to these rules, there exist several general presumptions with regard to interpretation of statutes. The latter are presumed: not to bind the Crown in its decisions; not to operate retrospectively in the sphere of substantive (but not procedural) law; not to infringe upon vested rights; not to interfere with the jurisdiction of the courts; and not to contravene Acts on constitutional rights or norms of international law (â€Å"Rules and Principles of Statutory Interpretation† 295). The aforementioned rules of statutory interpretation may be illustrated by the following examples. In London and North Eastern Railway Co v Berriman (1946) the court decided that the claims of damages by the widow of the railway worker knocked down and killed by a train should not be satisfied as the statute provided that compensation was available to workers killed when engaging in ‘relaying or repairing’ tracks, while the worker in question was involved in doing routine maintenance, which the court deemed not being within the meaning of ‘relaying or repairing’ (Elliott and Quinn 44). This case may be taken as an example of literal rule in practice. The golden rule was used in interpretation of Section 57 of the Offences Against the Person Act 1861 in R v Allen (1872), when the court ruled that the phrase â€Å"whosoever being married shall marry any other person during the life of former husband or wife... shall be guilty of bigamy† led to the absurd conclusions, as it was impossible for a person already married to ‘marry’ anyone else, and the wording was accordingly changed from ‘shall marry’ to ‘shall go through a marriage ceremony’ (Elliott and Quinn 46) . Finally, the case of L’Office Cherifien des Phosphates Unitramp SA v Yamashita-Shinnihon Steamship Co Ltd (The Boucraa) (1994) demonstrated the application of presumption against retrospective effect in court ruling (Elliott and Quinn 50). This and other cases show how the rules of statutory interpretation are applied in the English case law. 2. The System of Judicial Precedent and the Right of House of Lords not to Be Bound by Its Own Past Decisions The modern English case law grew up out of standardisation of various ‘common laws’ of England undertaken by William the Conqueror in the second half of the 11th

The Idea of God in Buddhism & Its Implications for Human Life Essay

The Idea of God in Buddhism & Its Implications for Human Life - Essay Example While in some polytheist religions, the concept of God may differ slightly, but in all primary religions of the world, the God is one powerful being who has no partners and neither does he require any helpers to assist him in his numerous tasks. The concept of God does not exist in Buddhism well at least not in the same sense as what other religions of the world associate with as God. Buddhism does not deny the existence of supernatural beings but it disagrees with the theory that these supernatural beings (or Gods as referred to in many religions) have power for creation, salvation or judgment. Buddhism is not a single, unified religion but exists in a variety of forms. All these forms however have at least one thing in common: an emphasis above all on the transitory nature of human life as one knows it. Although in one's heart one may long for eternity the unavoidable fact is that humans are temporary beings, and true spirituality begins with acknowledging that. Towards the close of the sixth century BC there was a teacher who founded an order of yellow robed monks and nuns and was called by them the "Buddha," or "He who is awake or enlightened."1One knows little for certain about the historical facts of his life and teaching (Chen, 1968). The traditional stories about him were written much later and the Buddhist scriptures, which purport to give his teaching, are often of doubtful authenticity2. One can be reasonably sure of some things. His name was Siddharta Gautama (this is its Sanskrit form: Siddhattha Gotama in the dialect of the earliest Buddhist texts, Pali) and h e was the son of a chief of the Shakya tribe, which lived not far from the city of Kapilavastu. He became an ascetic and teacher and his doctrines attracted many disciples. He spent a long life teaching in the region north of the Ganges, and died around 486 BC at the age of eighty. For the rest one must be content with the stories told by his followers (Conze, 1959). Buddhism does not believe in an entity having a separate existence. An important aspect of Buddhism which is different from various other leading religions is that a follower of Buddhism does not exercise his followings to please a particular "God" on the other hand the followers or "Buddhists" as they like to be called follow the preaching's of Buddha to achiever a higher plain of existence for themselves without the necessary purpose of pleasing a creator. As per Buddhism every living thing has a dharma nature, which is basically enlightened nature that different all forms of life entail. Buddhism instils belief in the circle of life as per which life goes through birth, growth, decay and death. Life according to Buddhism focuses on forms that are in a continuous process of change and decay, which indicates that life is a just a phenomena in this magnificent religion. Nevertheless both religious and nonreligious individuals often agree on the fact that religion is all about the supernatural and that it is inseparable from belief in an external, personalised deity. Others believe that religion encourages escapist fantasies that cannot be established. The sudden increase in terrorism (which is wrongly given a religious

Defining terrorism Essay Example | Topics and Well Written Essays - 1750 words

Defining terrorism - Essay Example The simplest definition of terrorism is the following one: â€Å"Terrorism is the use of violence or force, or the threat of such, directed upon innocents, civilians, or noncombatants, in order to achieve political objectives† (Thackrah 2004, p. 18). There is a vivid discussion about the fact whether to justify terrorism or not. Some academicians and scientists underline that it is impossible to justify the essence of terrorism. In the very essence terrorism is unjust and illegitimate. Nevertheless, this assumption is rather emotional and it is relevant to consider this phenomenon from moral perspective. Thus, there is no moral background for the governments to sponsor terrorists, but they really do that. There is nothing more than intimidation of people in the name of reaching the goals of a group of people or the whole nation–this is the way terrorists are perceived by many states. Media positions terrorist acts as if they stem from political grievances, though the es sence of these actions can be rooted not in political concerns, but rather in religious or social issues. The US Department of Defence defines terrorism as â€Å"the calculated use of unlawful violence or threat of unlawful violence to inculcate fear; intended to coerce or to intimidate governments or societies in the pursuit of goals that are generally political, religious, or ideological† (Thackrah 2004, p. 32). Intimidation, fear and violence are three basic pillars of terrorism. The government’s reaction to terrorist acts has been always developed in accordance with the essence of the main goals of terrorists. For example, one of the most scaring acts of terrorism committed by the Black September Organization in October 1983, when 241 U.S. military personnel were killed and many people were wounded. In reality, the main target of their terrorist actions was the whole American nation and the Congress. The government withdrew the Marines from Beirut and this factor w as rather impressive for terrorists and they considered it to be success. First ad foremost concern for different governments should be focused on the fact that terrorists position themselves not as the servants of the Devil or evil, but they position themselves as fighters for freedom and their rights. They are interested in promoting liberating images or images, â€Å"supporting† public interests. In other words, one man’s terrorist is another man’s freedom fighter (Burkoff 2005, p.49). In accordance with modern researches and studies, definitions of terrorism are developed in different terms. Thus, Schmidt and Youngman refer to 109 different definitions of terrorism, where three equal words were present: violence, force; political; fear (Boaz). Generally speaking, terrorism is considered at international level, because the targets of terrorist attacks can be found in different countries. There is a very thin boundary between terrorism and crime. Thus, for exa mple, political motivation of terrorism cannot be denied and it is often positioned as the first and foremost underpinning for terrorist acts commitment. It can be defined as â€Å"politically motivated attacks on non-combatant targets† (Fields, 2001). The activities of terrorist organizations are often described with the use of such concepts, as â€Å"

Pre-Contract Cost Planning and Cost Controlling Assignment

Pre-Contract Cost Planning and Cost Controlling - Assignment Example Cost planning not only enables capital cost budgets to be set but also provides a structure to accommodate as well as manage transformations to the client’s brief and design (Murdoch & Hughes, 2007, p.80). An effective Cost plan enables a client together with the design team to understand where and how finances have been allocated towards the completion of a project. On the other hand, Cost control should be provided from start to completion of the project, ensuring that the estimated final cost is always known. However, Pre-contract Cost Controlling is quite different from the Post-contract Cost Controlling. Pre-Contract Cost Planning and RIBA Plan of Work As aforementioned, an effective construction plan is the foundation of the budget development as well as schedule for work. Pre-construct cost planning is thus crucial when preparing a construction plan. Even though construction costs can be pre-planned as well as estimated, it is quite possible for these to significantly change in the course of the actual construction (Chitkara, 1998, p.99). Pre-contract cost planning informs the owner when financial installments will be required to enable him/her keep current with the billings (Ferry, et al., 1999, p.55). When establishing a pre-contract cost plan it is important to create one that follows the RIBA Plan of Work. RIBA plan of work is one that tends to organize the process of managing as well as designing building projects while administering building contracts to a number of essential Work Stages (Potts, 2007, p.13). The Work Stages included in the RIBA Plan of Work are Preparation, Design, Pre-Construction, Construction and Use (Mi ncks & Johnston, 2004, p.109). Under the Preparation stage, identification of client’s needs and objectives is done. Feasibility studies as well as assessment of options enabling the client to make a decision is also prepared under this stage (Murdoch & Hughes, 2007, p.81). The contractor then develops an initial statement of requirements into the Design Brief as a way of confirming the main requirements and constraints. The Design Brief is then implemented, and additional information prepared. Under the Design stage, concept design is developed and includes updated outline specifications, cost plan and structural and building services systems (Ferry, et al., 1999, p.57). The Pre-Construction stage involves preparation of production information in full detail enabling tender(s) to be acquired. Further information for construction required under the building contract is also prepared after application for statutory approvals has been done (Chitkara, 1998, p.100). Identificatio n as well as evaluation of potential contractors for the project is then carried out, and recommendations submitted to the client. During Construction stage, the

Evolution of Skyscrapers Essay Example for Free

Evolution of Skyscrapers Essay 1.Historical Development In High-Rise Buildings Ancient Skyscrapers The Great Ziggurat of Babylon Perhaps the most impressive structure in the ancient Middle East, the Great Ziggurat of Babylon was built over a span of several decades in the Sixth Century BC. Its seven stories, built upon a square foundation, stretched 300 feet into the sky. Some think it was the inspiration for the infamous Tower of Babel in the Book of Genesis. In this illustration, King Nebuchadnezzar, who ruled Babylon from 604 to 561 BC, is seen overlooking his capital The towers of Bologna The towers of and were built in Europe, or together until Bologna are slender, as much as 60 meters (150 feet) tall, by the rich for defense and as status symbols. No other site perhaps the world, had so many tall structures crowded the coming of skyscrapers in the late 19th century. Fig. 1 The great Ziggurat of Babylon As many as 180 towers, of many different heights, are thought to have been built in Bologna during the 1100s and slightly later; now there are barely 20. The two most prominent (seen here) are the symbols of the city and have long been known together as the Two Towers. Fig. 2 The towers of Bologna The First Safety Elevators In this period illustration, shoppers ride the elevator in the new Lord Taylors department store on Broadway in New York City sometime during the 1870s. Around the same time, the first-ever elevator in an office building was also installed in New York. It was designed by Elisha Otis, whose company became synonymous with the new contraption. Elevators revolutionized office buildings, literally turning them upside down. Prior to their invention, the lower floors of a structure were the most valuable rental property because of the difficulty and inconvenience of climbing the stairs. But the elevator made it possible for elite tenants to enjoy the view from the upper floors and allow buildings to rise higher and higher. Fig. 3 The first Safety Elevators Great Chicago Fire In this illustration, Chicago residents flee the terror of the Chicago fire which devastated their city over a three-day period in October 1871. The fire caused nearly $200 million in damage, killed some 300 people and left another 100,000 homeless. Despite this toll, the destruction cleared the way for Chicago to build scores of modern steel-framed office towers and to become one of Americas most architecturally striking cities. Fig. 4 Great Chicago Fire The First skyscraper Chicagos 10-story Home Insurance Building, built in 1884 and designed by William Jenney, was arguably the first true modern office tower. It was the first building to use structural steel at least partially in its frame, and was the first tall building to be fireproofed both inside and outside. It was torn down in 1931 but its legacy lives on in thousands of steel-framed and fireproofed buildings around the world. Fig. 5 Home Insurance Building The Tribune Tower Pedestrians walk past the ornate entrance and lower floors of Tribune Tower, home of the Chicago Tribune newspaper, which was built in 1925. The 36-story Gothic Revival structure was designed by John Mead Howells and Raymond Hood, who won a contest held by the newspaper company to create the most beautiful and distinctive office building in the world. Fig. 6 The Tribune Tower The Chrysler Building With its majestic spire, New York Citys Chrysler Building is perhaps the most famous Art Deco structure in the world. Built in 1930, the 77-storey structure was briefly the tallest building in the world. The sculptures at the top and around the edges are actually inspired by Chrysler hubcaps and hood ornaments. The buildings tapering profile is perhaps the best example of form follows zoning by taking New York Citys setback requirements from 1916 zoning laws requiring new structures to leave more open space around them and turning them into an stunning archetype Fig. 7 The Chrysler Building The Empire State Building survives a hit This photo shows the spot where a B-25 bomber struck the Empire State Building in July 1945. The aircraft was ferrying servicemen from Massachusetts to New Yorks La Guardia Airport when pilot William Smith veered disastrously off course in heavy fog. Fourteen people including Smith were killed when the bomber hit the skyscraper. The buildings 79th floor caught fire, and New York City firefighters bravely rushed up into the building to rescue occupants and put out the blaze. The buildings structure and fireproofing both proved strong enough that the New York landmark reopened the following week. Fig. 8 The Empire State Building World Trade Centre The famous twin towers of the World Trade Center were built by the Port Authority in the 1960s as part of an effort to revitalize lower Manhattan. The structure was derided by critics as boring. One wag likened it to a giant pair of filing cabinets, but in time it became a popular New York landmark. The original WTC was the first to use sky lobbies where people would change from express to local elevators, a setup inspired by the New York subway system. It also had wide-open, column-free spaces that were ideal for Fig. 9 The World Trade Centre the cubicles then becoming popular in office design. The towers were destroyed in the 2001 terrorist attack that killed more than 2,700 people Sears Tower When the Sears Tower, later renamed the Willis Tower, opened in 1973, the 108-story structure became the tallest building in the world and held that title until Malaysias Petronas Towers claimed the distinction in 1998. This skyscraper was able to achieve that height through a spectacular engineering innovation that introduced the bundled tube structure the Sears Tower is really nine square towers bundled together. It was the start of a revolution in structural design that permitted higher and thinner towers than had ever been built before Fig. 10 The Sears Tower The Citicorp Building Skirts Disaster The 59-story Citigroup Center building, completed in 1977, had to undergo a costly strength upgrade the following year after it was discovered that the structure was dangerously vulnerable to strong diagonal winds hitting the buildings corners. This weakness was a consequence of the placement of the main support columns at the centre of the sides rather than on the corners because the building had to float over a church that owned the property. This bold design did win praise for the architect but he subsequently had to suffer the consequences largely in secret lest panic break out of experimenting with untested structural elements. If strong dangerous winds had actually toppled the Citicorp building, it is estimated that it might have taken 16 blocks of Manhattan with it. Fig. 11 The Citicorp Building The Petronas Tower Tourists have their picture taken outside the soaring spires of the Petronas Towers in Kuala Lumpur, Malaysia. The 88-story towers, which were completed in the mid-to-late 1990s, were for several years the worlds tallest buildings. The project was the harbinger of a global shift in skyscraper building in which Middle Eastern and Asian countries have been racing to erect the tallest and most majestic towers Fig. 12 The Petronas Tower The Gherkin, London One of the more unusual sights in the London skyline is 20 St. Mary Axe, a 41-story office tower opened in 2004, which is nicknamed The Gherkin because of its resemblance to a pickle. Though odd-looking, the structure is a prototype for a new generation of innovative, super energy-efficient buildings. Vertical gaps in the building create a natural ventilation system that allows warm air to rise out of the structure. These openings also allow the interior offices to use more Fig. 13 The 20 St. Mary Axe natural light to greatly reducing electrical consumption The Marina Bay Sands Singapores Marina Bay Sands, a casino and resort complex which opened in 2011, cost an astonishing $8 billion to build. Architect Moshie Safdies unorthodox design, with its trio of 55-story towers, reportedly was inspired by card decks on gaming tables. The three towers are connected by a giant terrace that supports the worlds longest elevated swimming pool. The steel for the pool weighs 191,416 kilos (422,000 pounds) and the water it can hold weighs an additional 1,424,098 kilos (3,139,600 pounds). The towers are constructed to allow movement in the wind up to 50 centimetres and longer-term settling in the soil. Fig. 14 The Marina Bay Sands Burj Khalifa Dubais 160-storey Burj Khalifa, which opened in 2010, is by far the worlds tallest building. Its startling, rocket ship-like appearance, seen in this photo, seems intended to get attention more than anything else. As architectural critic Paul Goldberger has written, You dont build this kind of skyscraper to house people you do it to make sure the world knows who you are. The tall, tapering design is reminiscent of skyscrapers like the Chrysler Fig. 15 The Burj Khalifa and Empire State buildings although you could put the two New York skyscrapers one on top of the other and they still would not be as tall. The New World Trade Centre One World Trade Center (also known as Tower One) rises over lower Manhattan on the site of where the twin towers destroyed in 2001. When completed in 2013, it will have a spire thats precisely 1,776 feet tall (541 meters), making it the third tallest building in the world and the highest in the Western Hemisphere. The new WTCs base is enclosed in thick concrete, steel panels and blast-resistant glass, making it one of the toughest skyscrapers ever built, but security concerns have caused the buildings cost to soar, reaching the vicinity of $4 billion. Fig. 16The New World Trade Centre Fig. 17 Height Comparison of Noticeable Tall Buildings 2. Classification of Tall Building Structure System In 1969 Fazlur Khan classified structural systems for tall buildings relating to their heights with considerations for efficiency in the form of â€Å"Heights for Structural Systems† diagrams Fig. 18 Classification of Tall Building Structure System by Fazlur Khan. Left : steel; Right: Concrete He developed these schemes for both steel and concrete. Khan argued that the rigid frame that had dominated tall building design and construction so long was not the only system fitting for tall buildings. Because of a better understanding of the mechanics of material and member behavior, he reasoned that the structure could be treated in a holistic manner, that is, the building could be analyzed in three dimensions, supported by computer simulations, rather than as a series of planar systems in each principal direction. Feasible structural systems, according to him, are rigid frames, shear walls, interactive frame-shear wall combinations, belt trusses, and the various other tubular systems. Structural systems of tall buildings can be divided into two broad categories: interior structures and exterior structures. This classification is based on the distribution of the components of the primary lateral load-resisting system over the building. A system is categorized as an interior structure when the major part of the lateral load resisting system is located within the interior of the building. Likewise, if the major part of the lateral load-resisting system is located at the building perimeter, a system is categorized as an exterior structure. It should be noted, however, that any interior structure is likely to have some minor components of the lateral load-resisting system at the building perimeter, and any exterior structure may have some minor components within the interior of the building. This classification of structural systems is presented more as a guideline and should be treated as such. It is imperative that each system has a wide range of height applications depending upon other design and service criteria related to building shape, aspect ratio, architectural functions, load cond itions, building stability and site constraints. For each condition, however, there is always an optimum structural system, although it may not necessarily match one of those in the system’s tables due to the predominant influence of other factors on the building form. The height limits shown are therefore presumptive based on experience and the authors’ prediction within an acceptable range of aspect ratios of the buildings, say about 6 to 8. On occasions, an exterior structure may be combined with an interior one, such as when a tubular frame is also braced or provided with core-supported outriggers and belt trusses, to enhance the building’s stiffness 2.1 Interior Structures The two basic types of lateral load-resisting systems in the category of interior structures are the moment-resisting frames and shear trusses/shear walls. These systems are usually arranged as planar assemblies in two principal orthogonal directions and may be employed together as a combined system in which they interact. Another very important system in this category is the core-supported outrigger structure, which is very widely used for super tall buildings at this writing. The moment-resisting frame (MRF) consists of horizontal (girder) and vertical (column) members rigidly connected together in a planar grid form. Such frames resist load primarily through the flexural stiffness of the members (Kowalczyk, Sinn, Kilmister, 1995). The size of the columns is mainly controlled by the gravity loads that accumulate towards the base of the building giving rise to progressively larger column sizes towards the base from the roof. The size of the girders, on the other hand, is controlled by stiffness of the frame in order to ensure acceptable lateral sway of the building. Although gravity load is more or less the same in all typical floors of a tall building, the girder sizes need to be increased to increase the frame stiffness. Likewise, columns already sized for gravity loads need to be slightly increased to increase the frame stiffness as well. MRFs can be located in or around the core, on the exterior, and throughout the interior of the building along grid lines. Table 1 Interior Structures Braced frames are laterally supported by vertical steel trusses, also called shear trusses, which resist lateral loads primarily through axial stiffness of the members. These act as vertical cantilever trusses where the columns act as chord members and the concentric K, V, or X braces act as web members. Such systems are called concentric braced frames (CBF). Eccentric braced frames (EBF) have, on the other hand, braces which are connected to the floor girders that form horizontal elements of the truss, with axial offsets to introduce flexure and shear into the frame (Popov, 1982). This lowers stiffness-to-weight ratio but increases ductility and therefore EBFs are used for seismic zones where ductility is an essential requirement of structural design. EBFs can also be used to accommodate wide doors and other openings, and have on occasions been used for non-seismic zones (Corrin Swensson, 1992). Braced frames are generally located in the service and elevator core areas of tall buildings. The frame diagonals are enclosed within the walls. Reinforced concrete planar solid or coupled shear walls have been one of the most popular systems used for high-rise construction to resist lateral forces caused by wind and earthquakes. They are treated as vertical cantilevers fixed at the base. When two or more shear walls in the same plane are interconnected by beams or slabs, as is the case with shear walls with door or window openings, the total stiffness of the system exceeds the sum of the individual wall stiffnesses. This is so because the connecting beam forces the walls to act as a single unit by restraining their individual cantilever actions. These are known as coupled shear walls. Shear walls used in tall office buildings are generally located around service and elevator cores, and stairwells. In fact, in many tall buildings, the vertical solid core walls that enclose the building services can be used to stabilize and stiffen the building against lateral loads. Many possibilities exist with single or multiple cores in a tall building with regard to their location, shape, number, and arrangement. The core walls are essentially shear walls that can be analyzed as planar elements in each principal direction or as three-dimensional elements using computer programs.

Explain the origins of the term BRICS

Explain the origins of the term BRICS Submitted by: Full Name(s): Isabel Full Surname: Rodrà ­guez Rodrà ­guez THE ORIGINS OF THE BRICS Introduction Jim O ´Neill coined in 2001 a new acronym that could threat the established world order after the Cold War suggesting that four emerging economies will dominate it by 2050. These countries are Brazil, Russia, India and China shaping the word BRIC and, from 2011 South Africa, added an S to the term and becoming BRICS. The aim of this essay is to bring the reader closer to the creation of this aforementioned block so discussed in the past decade. I will argue that although in the beginning could be understood as a term merely associated with investment in the countries mentioned above, it had been changed into a block of cooperation with a common objective: have a stronger voice in the world ´s politics. In the first paragraph, I will explain the origin of the term BRIC by Goldman and Sachs, in the second I will do a brief analysis ofthe first summit of the group and the relevance of it and finally, in the third one I will argue that BRICS are not only meant for trade but also politics. Discussion The term BRIC appears for the first time in 2001 to refer to the emerging economies of Brazil, Russia, India and China in a paper called Building Better Global Economic BRICs[2] written by Jim O ´Neill and published by the American investment bank Goldman Sachs. In the text, Jim O ´Neill argues that we cannot underestimate the countries mentioned below because those will be the future world powers. These countries were selected because its impressive economic growth, therefore they will be crucial in world ´s GDP. According to the author, China and India will become the suppliers of services and technology while Brazil and Russia would do the same for raw materials.   In fact, even in the more pessimistic scenario (extrapolating the growing rate of 2000 in future years), in the following 10 years, the BRICs would reach a 12% in world ´s GDP, pushed by China that will be the fifth largest economy in the world. For this reason, BRICs must have more re presentation in international forums and reach a representative voting, in special in G7 (Germany, Canada, United States, France, Italy and the United Kingdom) suggesting that they should change in a G9 in order to guarantee a correct representation. Two years later, in 2003, Goldman Sachs published another paper called Dreaming With BRICs: The Path to 2050[3] claiming that BRICS would have a larger GDP than the G6 by 2050. However, the BRIC ´s hypothesis has critics that claim that the term was created to promote the emerging countries as solid economies for long-term investment through a new classification: from just developing countries to BRIC in the same way that is more attractive to say Asian Tigers than the name of the four countries themselves.[4] Even the acronym suggests the image of a brick: solid, compact and heavy that it is aligned with the title of the first above mentioned paper. The title of the second paper Dreaming with BRICS: the path for 2050 also sugges ts that readers imagine the potential profit for the emerging economies of BRICs[5]. It shows the interest of Goldman Sachs in their own business, that its sell financial services. Probably we will not know for sure if it was just a way to promote their products of emerging countries, but is it undeniable that it was used as a catalyser for the economies involved.[6] Although the Goldman Sachs paper was published in 2001, the first BRIC ´s summit was not held until 2009 in Yekaterinburg (Russia), despite the dialogue started in 2006 in New York[7]. It was attended by the leaders Lula da Silva (from Brazil), Medvedev (Russia), Singh (India) and Jintao (China). It is relevant the year, in the middle of the financial crisis they needed to show strength, stability, and confidence as President Lula claimed We stand out because in recent years our four economies have shown robust growth. Trade between us has risen 500% since 2003. This helps explain why we now generate 65% of world growth, which makes us the main hope for a swift recovery from global recession (Lula da Silva 2009). It is not difficult to understand why even if we would think the forecast of Goldman Sachs was not realistic it was highly relevant the first summit if we consider the data of the countries involved. First, there are big countries, they represent the 40% of the surfac e area of the world and lastly, there are in strategic positions. Second, there are countries with dense population, in fact, they are the largest countries by population having a 50% of the worlds population. Third, regarding economics there contribute with a 22% of the world ´s GDP, being relevant the impressive growth rates, especially the case of China that did reach almost a 15% of growth in 2007[8]. It is also to highlight the third summit in Sanya (China) in 2011 in which South Africa joined the BRICs, adding an S to the acronym and becoming BRICS. However, we cannot forget how different these countries are, as a matter of fact, they do not even share the same political ideology and they have some very diverse perspectives on topics such as nuclear weapons. Then, why would they want to cooperate? Cooperation creates less dependence of the West in terms of trade, especially because they were no longer indulgent with the previous agreement of the World Trade Organization that shows the influence of the United States and European Union[9]. Cooperation also promotes the trade between the members, in 2001 was 21 million dollars in contrast to 280.000 million in 2014, it is to say that the trade rose more than 13 times.[10] Also, together they have much more bargaining power to balance the hegemony of the West, the representation on the financial institution such as World Bank or International Monetary Fund is very low[11]. In fact, the reform of the IMF ´s quotas in 2010 could be seeing as a direct success for the BRICS altho ugh it became effective in 2016.[12] Others scholars believe that the real goal of the BRICs summit was a call for cooperation between the countries due to the similarities of their issues (poverty, health care or food security) that is to say the transition towards a middle-income status.[13] It is undeniable that the relationship between them is at least singular because they think that the BRICS is meant for cooperation and not for conflict, the guiding principles are non-interferenceand national sovereignty[14]. For instance, Brazil did not criticise Russias annexation of Crimea showing to the world a united front[15]. As evidence shows it is much more than an intra-cooperation, the Russian president said The global problemsà ¢Ã¢â€š ¬Ã‚ ¦ cannot be effectively solved without the involvement of the BRICs countries[16] which give an idea of the political relevance that they wanted to achieve. The advantages of cooperation are not just relative to trade but also politics. Conclusion The BRIC was an acronym coined by Jim O ´Neill to refer to the emerging economies of Brazil, Russia, India and China. Although there is evidence that the term could help to promote financial products, it was also a catalyser for the economies involved. Although it took 8 years for the idea behind the BRICs to make true and another two years to became BRICS with a capital S standing for South Africa, the five countries have impressive figures in terms of population, GDP and growth which lead to a very successful cooperation. Despite that they do not share some core values (for instance, ideology) they cooperate showing to the world a united front thanks to the principle of no-interference. Together, they have the tools to promote trade between them but also to reach more bargaining power in order to balance the West in world ´s politics. The BRICS is not only a coalition for promoting trade or discuss domestic issues but also a way to make sure that their voice is heard. [1] Assignment Requirements Each participant is expected to submit a 2,000 word essay. The written piece should include a rigorous analysis of key issues raised and their validity; the text should be clear, readable, and follow standard academic publishing conventions, including appropriate quoting, footnoting and bibliographic referencing. Your essay can contain around 10% more or less words of the required word counting, i.e: around 100 words more or less than 2000. The following is a suggested format that you are expected to use: Font type and size: Arial at 11 point; Line spacing: 1.5; Alignment: Fully justified. Prior to typing in/pasting the contents of your assignment on page two of this document, please ensure that your text has been formatted in accordance with the above requirements as you wont be able to format it within this document. Prior to submission, please name the finalised and formatted document in accordance with the following pattern: Surname Name Module 1 Final Essay, e.g.: Doe John Module 1 Final Essay The deadline for submission of written piece is Thursday 23rd March before 17:00. Please submit your assignments via LSE GDP 2017 Custom Programme Moodle webpage. [2] Jim O ´Neill, Building Better Global Economic BRICs Global Investment Research, Goldman Sachs, 2001 Available at: http://www.goldmansachs.com/our-thinking/archive/archive-pdfs/build-better-brics.pdf [3] Dominic Wilson, Roopa Purushothaman Dreaming With BRICs: The Path to 2050 Global Investment Research, Goldman Sachs ,2003. Available at: http://www.goldmansachs.com/our-thinking/archive/brics-dream.html [4] Leon Wansleben, Dreaming with BRICs, Journal of cultural Economy 6, no.4 (2013)   p.4 doi:10.1080/17530350.2012.756826. [5] Ibid. [6] Ibid., p.6 [7] Oliver Stuenkel, Emerging Powers and Status: The Case of the First Brics Summit. Asian Perspective 38, no. 1. p.3 http://vex.com/vid/amerging-powers-status-brics-summit-494287502. [8] Data IMF. World Development Indicators Accessed 10 March, 2017 http://data.worldbank.org/datacatalog/world-development-indicators [9] Zaki LaÃÆ' ¯di, BRICS: soverignity power and weakness International Politics 49, no. 5 (2012): 614-32., p.5   doi:10.1057/ip.2012.17. [10]   WTO database Datos Comerciales y Arancelarios Accessed 10 March, 2017 Available at:   https://www.wto.org/spanish/res_s/statis_s/its2015_s/its15_highlights_s.pdf [11] Michael Cox, Towards a BRIC world? Lecture, London School of Economics Custom Programs, 7th march 2017 [12] Stuenkel, Emerging Powers and Status p., 2 [13] Stuenkel, Emerging Powers and Status p., 11 [14] Pedro Morazà ¡n et al., The role of BRICS in the developing world p., 5 (Luxembourg: EUR-OP, 2012) [15] Stuenkel, Oliver. Why Brazil Has not Criticised Russia over Crimea. The Norwegian Peacebuilding Resource Centre. https://www.files.ethz.ch/isn/180529/65655a04cd21b64dbcc9c8a823a8e736.pdf. [16] Oliver Stuenkel, Brics And The Future Of Global Order Lanham: Lexington Books, 2016.

Impacts Of A Natural Or Man Made Disaster Tourism Essay

Impacts Of A Natural Or Man Made Disaster Tourism Essay Introduction Over the years the worlds poorest countries have become popular tourist destinations, drawing visitors with images of exotic environments and cultures (Harrison, 1995; WTO, 2004). Increasing cheap and easy travel has made long distance vacations a reality. Tourism countries is growing steadily in developing, urged by this governments, and by the international community, which includes the World Bank, as a means of encouraging economic diversi ¬Ã‚ cation, stimulating local incomes and earning most foreign exchange (Brohman, 1996; Christie, 2001; Harrison, 1995; Markandya et al., 2004; WTO, 2002, 2004, 2005; WTTC, 2005).But Tourism industry is prone to fluctuate and is a uncertain strategy which often strikes with minimal warning. Tourism promotion could be an economic relief to many developing and under developing countries but, if situations to become unfavourable; it could affect the ones engaged in a worse economic situation than they were before when introduced to tourism. The risks of over-concentration on a single sector of the economy can be high (Feenstra Hanson, 1996) and this is especially true in poor counties of the world where tourism domineers the economy. The island of Bali in Indonesia is one example, peace was wrecked by terrorist bombs in October 2002, and again in October 2005. The bombs which exploded in October 2002 killed 202 people this was only the beginning, the immediate impact on it was devastating. More than 18,700 scared tourists fled Bali in three days, which is three times as more than during a normal month. After the first two weeks after the attack, visitor arrivals dropped by 80%. And hotel occupancy plunged from 73% to just 14% after the attack. Within a week of the attack major tour operators promptly drew back their holiday programmes from Bali and resorts throughout Indonesia. This paper aims at proposing marketing strategies that could be adopted in Bali, to revoke Tourism after its terrorist attacks. They are Marketing Product, Promotion and distribution systems, Prices and retargeting. This paper will discuss all the strengths and weakness of these marketing strategies and also present a conclusion based on strategies which can be adopted to alleviate the impacts of terrorism in Bali. Marketing In Tourism: Industry dont `evolve . Instead time eager to overturn the present industry order challenge `accepted practise, redraw segment boundaries, set new price performance expectations and re-invent the product or service concept (Hamel and Prahalad,1994:303). Marketing and promotions are the key factors that should be considered when tourism industry has been shattered in a country that has suffered a crisis. Marketing Bali after terrorist attack is mainly bringing back economy to the country by the means of tourism since its economy majorly depends on tourism. There are several marketing strategies which can be implemented such as Promotion and distribution, Prices and Re targeting. Promotion and distribution systems Innovative techniques such as internet play a very important role in promotion and distribution channel in terms of volume and gathering information to choose trips and buy tourism services at the lowest possible price. A considerable increase in Internet sales has opened up a new way to improve and develop the management of distribution in the businesses. Systems integrate functions such as: marketing, information, sales and end-product integration by pulling together all the elements of a tourism trip. Due to its unique characteristics, growing number of countries are promoting their products through the Internet. Distribution no longer depends on traditional channels, that is, operators and travel agencies. The reduction or elimination of commissions on ticket sales and car hires is leading to the establishment of service fees, which is a fixed amount in many cases, and to a growing emphasis on the consulting or advisory function of travel agents. Virtual distribution channels are or tend to be interactive television, call centres, direct sales via the Internet, and websites of conventional travel agencies. The role of tour operators, traditionally associated with conventional sun-and-sand holidays, is being contained. There is a continuing trend towards consolidation and vertical integration among tour operators. In order to adapt to demand, they are also becoming more flexible and are segmenting their products to a greater degree. Among the objectives of this consolidation processes are: to better control operating costs, to make better use of their airplanes and to use their information systems more efficiently. Among travel agencies, cooperatives are gaining increased prominence using a model that has been successful in the United States, as well as the establishment of a mix of distribution channels that take advantage of new technologies. The management of the chain of production is geared towards profitability, with key strategies being: increasing the load factor of own planes, achieving economies of scale, reducing risk by diversifying into new markets and consolidating brands that cover various products in order to increase customer loyalty. The Internet has a growing role but has not yet displaced print publications, television and radio, especially coupled with direct marketing, the Internet itself, the specialized press and special promotions. A message to address safety concerns must be issued in order to let people know that the Bali has tightened up its security and it is now safe for the tourist. Bali tourism officials can plan to invite all their major travel agents check new safety measures which has been implemented. Travel agents provide bulk hotel bookings; it is very important to encourage them to take personal tours to make them aware of all new security measures implemented. This will create a good image of Bali to travel agents so they feel confident on promoting Bali as a tourist destination again. It can also invite important trade partners. Concerning security and safety, JATA (Japan Association of Travel Agents), China National Tourism Administration (CNTA), Singapore Travel Agencies expressesing their satisfaction with heightened security measures implemented in the aftermath blast which can help improve tourism form Japan, China and Singapore. Advertisements. Diplomatic and celebrity endorsement can be done to bring up the market. Advertisement about a new refreshing image of Bali introducing new ideas such as surfing, honeymoon vacation, religious tourism can be enhanced better. But advertisements have to be targeted carefully. For instance, Caribbean islands invested a massive US$16 million publicity campaign to attract US tourist and tourist were still diminishing, This campaign had been suspended until and after the congressional elections of 5th November 2002. Americans were clearly not in the mood for travel, and no amount of advertising seems to be able to change. Prices: Prices are strongly influence travel purchase decisions. Price strategies have varied from straight price reductions, discounts for accompanying persons or even free travel for accompanying children, to added services. Many small and medium-sized enterprises have been especially affected by the downward trend in the price of tourism services. According to the International Federation of Tour Operators, we have gone through a year of falling demand, which has been stimulated through pricing. The effect of this factor is to reduce business revenues. Destinations with the best prices and where tour operators have own accommodations have a certain advantage of others. Use price follow PR with attractive price-led offers: both Malaysia and Sri Lanka did this very successfully post September 11th. Domestic airlines, including the national flag carrier Garuda and its subsidiary Merpati airlines, are to offer special discounts for visitors coming to Bali for the Muslim holiday of Idul Fitri, and also for Christmas and the New Year. The Indonesian Tourism Ministry and the Bali Tourist Board will work with the industry to prepare special, affordable holiday packages. Retargeting Domestic the Chairman of the Bali Tourist Board has stated: For the time being it would be wiser to focus first on the domestic market. It is appreciated that the domestic market has far lower spending power that the international one, but it can at least serve to keep the product functioning even though profits will be low. Indonesias 1000 Steps to Bali domestic promotion campaign was launched on 2nd November. The Government has announced that it will rework the public holiday calendar to create more long weekends, thus boosting the domestic market. Intraregional Singapore, for example, will concentrate on India and China, both markets likely to be less affected by this type of event. Malaysians too are apparently unphased by the events in Bali, according to feedback from MATTA, the countrys biggest travel fair: they are responding avidly to good value offers. Indonesia is also aiming to promote more in the Middle East (currently only 0.8% of total visitors). The Government has instructed all state companies, as well as encouraging private ones, to hold their corporate functions in Bali. Experienced travellers, not first timers first timers are naturally more nervous. Individuals with a passion: special interest markets held up remarkably well post September 11th. Sport, culture, newlyweds anything which gives a distinctive impetus to a trip should be targeted. Co-operation The main lessons which the tourism industry learned post September 11th is the importance of working together. The type of co-operation which it can be so hard to achieve in normal circumstances like even persuading two resorts in the same country to advertise together starts to happen spontaneously in times of crisis. The Australian Tourism Task Forces immediate reaction to the attack in Bali was: This means getting our marketing agencies together so that we have a co-ordinated campaign to remind Australians about the advantages of travelling at home and to remind the rest of the world that Australia remains a safe place for a holiday. Good security also requires national co-operation between Ministers, police, local authorities and the private sector. But the emphasis on co-operation post September 11th went wider than this. Commercial organisations and Governments started to work together more closely, not only across sector groups, but also across geographical boundaries. For example, Australia, New Zealand and Fiji came together to do joint advertising. It is important that the WTO should keep encouraging this trend. ASEAN, which held their 8th Summit between the 4th and 7th of November in Phnom Penh, Cambodia, had signed an important new Tourism Cooperation and Promotion Agreement. Malaysian Tourism Minister Abdul Kadir Sheikh Fadzir said the decision to deepen tourism cooperation was made two years ago but the Bali tragedy had given it more urgency. The 10 member grouping (plus 3 affiliated countries China, Japan and Korea) aims to promote the area as a single tourism destination in the international market, launch joint marketing programmes, introduce thematic tour packages to specific areas of interest, and harmonise visa issuance to foreigners. But the core theme of the pact is to boost intra-regional movement by phasing out travel taxes and extending visa exemptions to ASEANs 500 million citizens. The pact also aims to establish an integrated network of tourism and travel services, to encourage commercial agreements among regional airlines and to promote cruising, travel by ferries and lei sure boats. ASEAN feels that if they stop visiting each other, the terrorists will have won. But, in an illustration of the complexity of the current situation, John Koldowski from PATA commented that it was the right move for ASEAN to turn inward to revive the industry but it must not compromise national security in its rush to facilitate movement within the region. Product: We can develop events as part of the recovery phase, for instance, Indonesia will on 15thNovember invite the families of the victims to a special service in Bali to pray together. This will reinforce in a respectful way the generic spiritual image of the destination. Tour operators, airlines and cruise lines, and strive to maintain capacity. Governments need to work closely with the industry in difficult times to ensure that there is not a damaging loss of product which could limit recovery when better times come. Conclusion Promotion and distributions, Co operation and Prices inter connecting play a vital part while marketing a tourist destination. Promotion and distributions is a huge channel of communication through various sources of media like television, radios, news and newspaper, internet etc We can make a renewed image on Bali with proper media sources which will create a positive impact for tourists or travel agents. Thus it has power to reach people and can make a good impression. Co operation also is a very key strategy in marketing a destination where its needs supports from various countries to develop tourism. Good security also requires national co-operation between Ministers, police, local authorities and the private sector. Commercial organisations and Governments can work closely in joint advertising which such as straight price reductions, discounts for accompanying persons or even free travel for accompanying children, to added services and other offers which can help redeem the econ omy of Bali.

Ethical Judgments in the Arts and the Natural Sciences Essay -- Ethic

Ethical judgments limit the methods available in the production of knowledge in both the arts and the natural sciences. Discuss. When talking about ethics we have to take in account that it is based on the socially standardized concept of some things being good and some things being bad. Therefore what might be seen as socially unethical arts for some people, in another society or in another time, it probably won’t be so. The same is true for the natural sciences. And even if we take our western society as a base, there are some aspects of ethics and some specific topics of which people do not have a standardized opinion. The idea of it being ethical or not depends on thebeliefs of every individual. In this essay I am going to focus on the fact that some people carry out unethical investigations (in arts), experiments ( in the natural sciences) or processes ( in both), knowing that the people will not accept it. This is because they think that the unethical methods will lead them to an end that is of a greater good, or that will cause more good than bad. Therefore, the question is wether it is worth it to use unethical methods to achieve a goal that might or might not do a lot of good. There are two clear points of view, the one from the people that think that the end justifies the means and the one from the people who decide to follow the socially established ethical rules. First I will give an example of an unethical way to obtain knowledge in the natural sciences and I will show two points of view, then I will give an example of ethical limits in the production of knowledge in the arts and I will give two points of view. Animal testing is a good example of the problem of compromising ethics to achieve something good... ...it the methods that we use to obtain knowledge in the natural sciences and arts but those judgements do not always stop the people from using unethical methods. As long as the person carrying out the experiment or the performance believes that what they are doing ir right or rational, they will not stop doing it willingly. It is better to keep a balance between emotion and reason when deciding about if something is ethical or not and about weather something is worth to be done. The problem with this is that most humans are selfish by nature and they will probaly always choose what is best for them, what is more reasonable to them, not even caring about wether it is ethical or not. Works Cited http://www.peta.org/action/ http://visualmaniac.com/visualmag/videos/yolanda-dominguez-art-activism-on-9-vide http://condignart.files.wordpress.com/2013/06/vic.jpg

No Universal Truth Essay -- Philosophy Religion Essays

No Universal Truth Hume wrote, â€Å"be a philosopher; but, amidst all your philosophy, be still a man,† (qtd. in Jones 351). This statement strikes me more than all others, written by Hume or any of the philosophers from W. T. Jones’ Hobbes to Hume. It demonstrates to me that even after all of the inquisition towards what and how we can know anything, and the very methodical ways in which Hume is reputed to examine these things, he realizes that nothing is truly certain and begins to lean towards a pragmatic and radically empirical point of view. It is, therefore, also my conclusion that, as much as we may aspire to find the universal, indubitable, and objective truth, none of it can be proven to be universal, indubitable, and objective. In support of this view—the â€Å"abandonment of the quest for certainty, acceptance of provisional solutions as long as they work, and readiness to discard them when changing conditions make them no longer appropriate†Ã¢â‚¬â€I will endeavor to briefly examine substance, the self, and the presumed necessary connection of ideas or events (Jones 349). By applying his own empirical criterion of meaning to the examination of such a notably philosophical concept as substance, Hume flat out disposes of the entire notion itself. As has been formerly introduced by Descartes, substance is a fluctuating thing that takes on the same meaning as is best described by that certain je ne sais quoi. It is that certain something you just can’t put your finger on, and â€Å"by substance, we can understand nothing else than a thing which so exists that it needs no other thing in order to exist,â€Å" (qtd. in Jones 174-175). Descartes naturally takes this thing to be God, but never questions the meaning of God or substance a... ... and finally removes reasons for the existence of any connection between any of the ideas which we as a species have always held as being related. Hume also refutes any reason to believe in the existence of an external world, or a world without us, which has not been discussed here. In the end, there is really no reason to believe in the existence of existence, if Hume’s deductions are to be taken quite so seriously. Of course, if that were to be done, none could live as they do. Since Hume himself is concerned with a philosophy that concerns the everyday individual, not even he can truly accept that nothing exists. It is when he reaches this point himself that he realizes one can â€Å"be a philosopher; but, amidst all your philosophy, be still a man,† (qtd. in Jones 351). Works Cited Jones, W. T. Hobbes to Hume. 2nd edition. Fort Worth: Harcourt, 1980.

Capitec Strategy to success Essay

Introduction History shows that the South African banking sector has predominately focused on middle to upper class income groups in the market, whilst neglecting the needs and demands of low income groups (Manson, 2012). Capitec Bank on the other hand, focused on the needs of these low income groups, creating a business model that was specifically tailored to their needs. Capitec was introduced in the banking industry during a time of crisis, Saambou Bank, which focused in micro lending had collapsed (McNulty, 2009). However Capitec has managed to endure this predicament and since its inception, has emerged as a force to be reckoned with, in a relatively short period of time. The bank has managed to penetrate the South African banking sector with progression in a matter of a few years due to its implementation of the inventive Bottom of the Pyramid (BoP) strategy aimed at targeting the lower end consumers (van Themaat et al, 2013). It is therefore essential to evaluate the BoP strategy, along wi th all of its aspects. For this reason, this essay will examine the history of Capitec Bank and in particular outline the successful adaption of the BoP strategy as well as its growth and current position in the banking sector. However, the main objective that will be discussed in detail will be on the aspects of Capitec’s strategy crucial for leverage in its position in the South African banking sector. History Capitec Bank was founded on the 1st of March 2001 and built back on its micro credit business, keeping in mind its intention to establish a proper bank in the microfinancing platform (Manson, 2012). Microfinance is a term used to describe the provision of financial services in addition to microcredit to small businesses and the bottom of the pyramid (BoP) population (van Themaat et al, 2013). Initially, Capitec started as a 300-branch micro-loan business with the sole product being 30 day loans with a 30% monthly interest. Imperatively, this business of micro-loans supported the strategic aim and complementary cost of building out an underlying foundation  necessary for a transactional bank (Ashton, 2012). Based on statistics it is found that BoP is more than two thirds of the population that survive on bare minimum income (van Themaat et al, 2013). Furthermore Finscope 2003 estimated that 35 percent of the total population in SA have never banked or used any financial service to m anage their finances. With relation to the above, it is recognized that other financial institutions overlook serving the BoP as they are perceived as non-profitable (Coetzee, 2003). However on the other hand, Capitec recognised this market as a window of opportunity as the majority of this population remained unbanked due to the many constraints that prevented them from obtaining financial services (van Themaat et al, 2013, Robin et al, 2005). The bank implemented its profit-driven strategy by customising its services and products to the needs of the BoP to achieve the following: Acceptability, Availability, Affordability and Awareness, thereby overcoming the constraints that existed. (Coetzee, 2003, van Themaat et al, 2013, Robin et al, 2005) This approach deemed successful which has resulted in an increase of market share with 51.23 percent compound interest over the last five years which is in line with its goal of being a profit-driven microfinancing institution (van Themaat et al, 2013). These aspects used by Capitec Bank to penetrate the banking sector will be discussed in this paper. Acceptability As mentioned previously in the history, Capitec overcame many constraints that had previously left the BoP sector unbanked. The founders of Capitec critically evaluated the BoP and found that many are embarrassed by their lack of education, skills, literacy, are unable to afford basic financial services and that their perceptions of banking is that it is complicated, expensive, difficult and time consuming (van Themaat et al, 2013). Capitec offers a simplistic and acceptable approach to banking which has changed these perceptions taking into consideration that the Bop are first time users. Capitec Bank (2014) displays Capitec’s product offering which is a Global One account that incorporates a savings, deposits and a credit facility which makes for simpler banking offering exceptional utility and value. Capitec’s interaction with clients are face-to-face, paper-less, cash-less and card-based (Haladjian, 2006). Overcoming the lack of confidence and literacy skills in first time BoP clients was achieved by the paperless IT and management information system (van Themaat et al, 2013). This also incorporated biometric identification using fingerprint technology and cameras to identify their clients which creates ease of use and quicker response time (van Themaat et al, 2013). Overcoming the language barrier was achieved by employing staff from the local communities. (Robin et al, 2005). Capitec’s investment into human resource training has made for efficient interaction with clients strengthening customer-to-bank relations and by eliminating a bulletproof glass barricade, clients receive a personal service and are treated importantly, which makes transacting a more approachable service. (Coetzee, 2003) By treating their customers with respect, this increases the emotional a ppeal to the BoP population. As compared to service in a big four branch, the Bop customer is treated as inferior and unvalued, therefore Capitec defines it focus by customer and not by income (van Themaat et al, 2013). The customer interface systems at ATM’s have been adjusted to the needs and preferences of the BoP catering for illiterate clients. (Coetzee, 2003) The management IT system is centrally controlled, increases simplicity and customer value by reducing administration costs, paper work, prevents fraud and keeps track of transactions using fingerprint biometrics. (Coetzee, 2003, van Themaat et al, 2013) It also creates a safer environment as cash is not kept at branches and withdrawals are available at ATM’s and selected retail stores considering that many unbanked sectors exist in areas experiencing high crime and this positively contributes to driving down financial service costs (Coetzee, 2003, Haladjian, 2006). Opening an account takes ten minutes. After credit evaluation and approval, the loan application process is as follows: scan ID document and verify using barcode, scan payslip, take a photo of the client, capture other data, open account, print loan agreement, all ow client to sign, then scan and return the original, create an ATM card and give card to the client (Coetzee, 2003). Coetzee 2003 highlights that this previously unbanked population deemed as  undesirable and unprofitable are being served by Capitec Bank in large volumes since its inception. This further proves that the strategy of simplifying its service implemented by Capitec appeals to the Bop population allowing Capitec to penetrate the banking sector. Availability Capitec makes their services more available to customers by having longer business hours, increasing the number of branches, allowing withdrawals at retail outlets, using ATM’s, internet banking and applying for credit online. According to Planting (2006) Capitec Bank has extended their business banking hours. On weekdays branches are open from 8am to 5pm (Manson, 2012). Most of the branches of the big four banks: Absa, Nedbank, FNB and Standard bank close at about 3:30pm or 4pm. Capitec considers that most customers are working and can only access branches after working hours which is around 4pm. In some cases branches are open till later where it suits customers and branches are also capable of going to the workplace of customers to offer their services (Coetzee, 2003). On Saturdays branches are open between 8am to 1pm and on Sundays branches in large shopping centres are open between 10am to 2pm (Manson, 2012). Most of the big four banks branches close on Saturday at about 11am and on Sunday most branches are not open. These times considers that customers may not be able to do their banking during the week because of long and tiring working hours. They understand the needs of customers by offering longer business banking hours. Capitec knows that their customers need to reach their branches easily. This is done by reducing the size of branches and increasing the quantity of branches (Manson, 2012). They would rather have more branches in one area than have one big branch. Many people do not save because they do not have access to banking services (Finscope, 2003). Increasing the number of branches increases accessibility and savings will be encouraged. Using this approach makes their services accessible and convenient for customers. Initially Capitec’s main target focus was the BoP. Branches are located at taxi ranks, train stations and townships where their services are easily available to the low income group. They have expanded over the years, making their services available to the other income groups by locating branches near rural areas and in shopping malls. Capitec uses existing  infrastructure to improve banking service accessibility. They have partnered with retail outlets such as Checkers, Pick ‘n Pay, Shoprite and Pep. Customers can withdraw cash at these retail outlets. Most of the retailers allow cash to be withdrawn when purchasing items at the stor es except at Pick ‘n Pay no purchase is required to make a withdrawal. They have increased their network location by allowing withdrawals at retailers without having to invest in any large infrastructure (Kim & Mauborgne, 2005). This allows easy access to money and convenience for customers. Capitec ATM’s are located across SA making them easily accessible. If customers cannot access an ATM to withdraw cash, they can always go to retail outlets making their services more accessible and unique compared to the major banks. The ATM’s can be used to check balances, withdraw cash and multi-loan, transfer money to savings plans and change a pin. The availability of services offered by Capitec is improved by partnering with MasterCard. Cards are developed to allow customers usage even in remote places (Lee, 2010). Mobile banking is also used by Capitec; customers can use their cell phone to access multi-loan, savings plans and savings account. It can be used to purchase airtime and electricity, check account balances and previous electricity tokens purchased, withdraw multi-loan and make payments to clients who bank with Capitec, transfer money between your accounts and register for SMS update for security purposes. Capitec offers internet banking that is simple, safe and saves the customer money. Money can be managed whenever it suits the customer. Internet banking allows customers to transfer money between their accounts, create stop orders, check their statements, tax interest certificate, payment history and register for SMS update system. Customers first need to access their nearest branch to register for mobile or internet banking and to find out how it works. After registration customers can easily access their services when it suits them. They also allow customers to apply for credit online which increases availability of their services. A credit application must be completed online and they will contact the customer to discuss it with them, making credit application easily accessible. The use of EMP technology and cards linked to maestro allows customers use of their cards offline, offering services in areas of limited access such as rural communities (Haladjian, 2006). Using these strategies  Capitec has made their services more available and convenient for custome rs, thus improving the banking sector. These strategies used have increased their client base and resulted in the growth of bank. Businesstech (2014) reveals that Capitec has overtaken Nedbank and is now the fourth largest bank with approximately 10.8 per cent market share. Affordability A substantial component behind Capitec Bank’s successful business model was its development of a strategy aimed at understanding the needs of its customers which were the â€Å"bottom of the pyramid† population (van Themaat et al, 2013). This prompted the bank to offer affordable banking products and services that were specifically designed in accordance to its customers’ needs. Capitec centred on having simple banking products and services and sought out to have the lowest fees, hence arguably making it the most affordable bank to bank with amongst many of its competitors in the banking sector (Manson, 2012). In order to understand this strategy, it is imperative to highlight the banking products and services Capitec offered which allowed it to penetrate the banking sector in South Africa as well as making a comparative analysis with the products and services of some of the major banks in South Africa. The fundamental factor of Capitec’s success is its Capitec’s Global One account which comprises of three distinct features: it allows an individual to have the ability to transact, save and access credit, all with one account (Capitec Bank, 2014). The efficiency of this account ensures that customers do not have to open three separate accounts which cuts down on administrative costs. The monthly administration cost for the Global One account inclusive of all its aspects as of 01 March 2014 amounts to R5.00 (Capitec Bank, 2014). Furthermore there is free access to card, mobile as well as internet banking and in so doing makes it more appealing to Capitec’s target market (Manson, 2012). Comparing Capitec’s Global One account with that of its counterparts from the big four banks in the table below, it can be seen that this account is more superior in terms of its features and much more cost efficient than the rival accounts of other banks. Bank Transactional Account Savings Account Access Credit Capitec- â€Å"Global One Account† YES YES YES FNB- â€Å"Easy Account† YES YES NO Absa- â€Å"Flexi Account† YES YES NO Nedbank- â€Å"Ke Yona Account† YES NO NO Standard Bank- â€Å"PlusPlan Account† YES YES NO The Global One transaction feature allows you to transfer, deposit or withdraw money as well as to make purchases and payments (Capitec Bank, 2014). The fees that Capitec charges relating to the transaction aspect on this account is by far the cheapest in comparison to the transaction accounts of the big four banks. Fees relating to all card purchases are free whether you purchase at card machines, shop online, order by telephone or through mail. Money transfers to own accounts are also free and to other accounts is charged at a fee of R1.05. Balance enquiries through all channels are also free. (Capitec Bank, 2014) The savings component on the Global One account allows an individual to have four different savings plan which has the ability to earn interest ranging from 4.40 to 9% depending on  their plans. These plans can also be flexible or fixed according to one’s preference. With flexible savings, people can earn from 4.40% interest on their daily balances as well as cho ose the amount they want to deposit and the frequency of their deposits (Capitec, 2014). Another advantage to these plans is that there is no monthly admin fee that has to be paid to each account as well as no minimum balance required in order to start saving. Fixed-term savings gives one the ability to choose from two deposit options. The first is a â€Å"single deposit† which can run from a period of 6 to 60 months with a minimum balance of R10 000 and a maximum investment of R5 million (Capitec Bank, 2014). The second option is â€Å"multiple deposits† which can run from a period of 6 to 24 months with a maximum investment amount of R1 million. The interest rate is fixed for the full term and interest gained from this option can either be reinvested or transferred to back to one’s transaction or savings account (Capitec Bank, 2014). Having a look at the competing accounts of the other major banks which can be seen in the table below, most offer interest rates that are less than 1%. Capitec on the other hand offers highly competitive interest rates which make it more lucrative for people to bank with them as they are able to earn more on their savings. Bank Capitec- â€Å"Global One Account FNB- â€Å"Easy Account Absa- â€Å"Flexi Account Nedbank- â€Å"Ke Yona Account Standard Bank- â€Å"PlusPlan Account† Interest Rates 4.40 to 9% 0%

Unemployment Problem in Bangladesh

Date: February 15, 2013 Dr. Mahbub Sarfaraj Department of Management Kabi Nazrul Govt. college Dhaka Subject: Submission of Term Paper . Dear sir, It is a great pleasure and privilege the term titled â€Å"Impact Of Globalization In Economic Growth †. I have really enjoyed to prepare this report. I thing this report enrich my knowledge on impact of globalization in economic growth . There may be some mistake I think this mistake in the report will be kindly excused. With Thanks and best regards Sincerely Yours, Marium Akter Roll Number : 961 42 78Registration Number :165 23 59 Department of Management Kabi Nazrul Govt. Collage Student’s Declaration I hereby declare that the report of term paper namely â€Å"Impact of Globalization in Economic Growth† by me a comprehensive study of the Impact of Globalization of Economic Growth . I also declare that this paper is my original worked and prepared for academic purpose which is part of B. B. A. Marium Akter Roll Numbe r : 961 42 78 Registration Number :165 23 59 Department of Management Kabi Nazrul Govt. Collage Supervisor’s DeclarationI hereby declare that the concerned report entitled â€Å"The impact of globalization in the economic growth† original work by Marium Akter ; a student of BBA (Hons. ), Department of Management , Kabi Nazrul Govt. College , has completed term paper under my supervision and submitted for the partial fulfillment of the requirement of B. B. A at Kabi Nazrul Govt. College. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Dr. Mahbub Sarfaraj Lecturer Department of Management Kabi Nazrul Govt. college Executive Summary After studying the theoretical concepts of topic, understanding its practical implication and application is the next step in the learning process. n the process writing this paper , I came to know about different aspects of export as well as the Saudi Arabian market that I have explored with the light of my little knowledge . I have chosen Unemployment Problem in Bangladesh to complete my project on. Bangladesh is trying to develop unemployment sector is one of the most promising one in this process. It will face competition there but it has come distinctive qualities which will face help it to establish itself as a prime sector. However, after all this human being ,I believe everyone is not beyond limitation .There might have problems regarding lacks and limitation in some aspect and also some minor mistake such as syntax error or typing mistake or lack of limitation please pardon for that mistake . Md. Rasel Roll Number : 961 42 77 Registration Number :165 23 58 Department of Management Kabi Nazrul Govt. Collage Table of Content Letter of transmittal01 Student’s Declaration02 Supervisor’s Declaration03 Executive Summary04 Introduction05 Objective10 The Nature11 Impact 12 Causes 14 Extent17 Type 19 Structural Unemployment 19 Frictional Unemployment 19 Cyclical Unemployment 19Seasonal Unem ployment 20 Possible solution to unemployment 20 Conclusion 21 Bibliography22 â€Å"Unemployment Problem in Bangladesh† Introduction Unemployment is a great problem in Bangladesh. Every year hundreds of thousands students are coming out from college and University. Though it is one of the major responsibility of the Government to provide job to those young generation but the Government is failed to meet the job demand among the large population. Only a tiny fraction of total jobless in managed by different government official and private organization but a majority remain unemployment.Historically for a long time British administration was the main cause of this problem. After ending Mughol regime when the British came in sub continent (India, Pakistan, Bangladesh)They started to do business ,They exploited the sub-continent. They did not establish any industry which is helpful to remove unemployment problem. Though some Industry was made but all them were placed in Indian Te rritory. So Bangladesh region was neglected from the British period. After ending British rule in 1947 Pakistan adopted the same rule they establish all kinds of Industry in west Pakistan not in East Pakistan .As a result of Pakistani monopoly rule we saw the freedom fighting war in 1971. After nine month continuous war it is divided and named East Pakistan as a Bangladesh. After 1971 Bangladesh has been facing political crisis badly. As a result no government can not take long term massive step to remove the unemployment problem. Within 41 years Bangladesh has experience about eight new government and two assassination Incident at the top level country leader. So now political crisis is one of the major causes of unemployment problems. Among other two major parties BNP and Aowamileague are busy to gain only political power.None of these parties are trying to do anything to solve the country’s major problems Unemployment problems. Many Asian developing countries are the brigh t example in the world who is successful to remove the unemployment problem successfully. Korea, Malaysia, Singapore are the news of them, They are growing rapidly because there is no political crisis, Government assured the foreign Investor about political clam environment. So many American, European and Japanese company are investing those regions spontaneously. AS a result they are developing very fast. Bangladesh Government and political leader should leer from those Asian countries.Recent attitude and activities of political parties are very hateful to the common people. By election if a party goes to power then another party cannot accept that, they do not go to parliament they do not express constructive opinion in the parliament which is helpful for common people . But they should not do it. May be there is some discrimination of the election result but there are overall acceptation for the common people. To think about greater welfare of the country they should keep patient , they should support the government to take long term step to remove unemployment problems.If we watch towards Japan, Korea, Malaysia what we will see? Due to industrialization they have changed a lot. Without industrialization no nation can expect strong economic basement and solution of unemployment problems. Political settlement the first and forecast thing for Bangladesh is, to build up industry to remove the unemployment problem. If they can assure the political clam and stable situation, then foreigner will to come invest manufacturing sector to build new industry. In this respect transportation, Road and Highway, Electricity should be reconstructed strongly otherwise everything will be failed.Specially Automobile and Electronics industry are the major items to intensify a country’s overall financial condition. Most of money is spent in this two sector. Lot of population can be employed in these industry. Because by surrounding a automobile or electronics industry hund reds supporting some industry will be build up. As result a lot of people will be employed. In this respect the Government should adopt a strong and strict policy about used car establishing automobile industry they should ban import of all used car. Used car is import is destroying the environment and employment opportunity.To intensify the overall industrialization our Ambassadors who are employed in different countries specially Japan, Korea,Malaysia and Singapora can help the government to adopt strong effective ,active successful police. Because are well known with those countries environment. Government and people they have practical and expert felling about the development policy in different sector of the respective country. We have already wasted a lot of time. We don’t want to live as the poorest and neglected nation in the world. We want our economic growth ,our honor. We have a lot of workforce lot of money in the bank.But due to proper utilization and proper plan ning we are staying in back. In this regard political leader, Intellectual industrialist, planner Ambassador, Teacher, Student and migrated generation in abroad should contribute achieve the economic progress. If we can take proper steps to obtain our economic growth, then we can remove our unemployment problem. God says if you want to love me try to love people first. If you believe in God you have to love people. Ask yourself according your ability an responsibility how much has you done to help country? 80% the people are living in rural.After a long struggle a village parents educate his children helped them to grownup. They help them to gain college and University degree. Rest duty is yours that is Government. Yes it is Government duty to provide job for our young generation. It is fundamental duty of a government to solve the problem of Unemployment. Objective The rice of unemployment, as has been reported to be case in Bangladesh under a recent study that was prepared by the planning commission for finding out the progress made by the country under the millennium Development goals (MDGs) programme of the United Nation, is a worrisome development.The rate of unemployment in Bangladesh, according to the study, has now risen to some 11 per cent from what was percent 8. 0 percent in 2002 and 204 percent in 1990. This is only official data. The unofficial but reliable estimates of unemployment are higher. Employment creation needs to be a very important objective in every economy for the simple reasons that unemployment persons pose a burden at every economy for the simple level in society. First of all, they are burdens for their families. Unemployment young ones eligible to work and not finding work are a source of agony for their families.Family resources are drained on the maintenance of unemployed young persons. In the overall economic sense, unemployment people are liabilities for te economy because they do not produce only consume. People who do jobs usually produce something or discharge a service and obtain an income in return for their economic activities. Thus, both unemployment and its milder form, underemployment, meaning less than optimum engagement in work, are highly undesirable for the economy and society. Employment means incomes and it is an no way possible to alleviate poverty without creating income-earning opportunities or jobs for those remain unemployment.It is, therefore, extremely important to put the greatest emphasis on maximizing employment opportunities through meaningful operationalisation of the strategy for poverty alleviation and sustainable development. For this, the government must pursue practical policies to give a stimulus to much greater investment in the economy so that more jobs can be created on a regular basis. The domestic economy may not expand, in the short run, sufficient and proportionality to provide jobs to the rising number of unemployed people.It, thus, serves the country’s pu rpose if efforts are made at same time to send people abroad with jobs. In the latter case, the benefits can be multiple. The pressure of the unemployment ones for jobs eases, foreign currencies are remitted in support of the foreign currency reserve and the country is also spared the parasitic existence of people without jobs. Considering all this factors, the government should pursue more energetic policies to help create synergy so that more investment takes places within the economy, on one side and more people can also be sent abroad with gainful jobs, on the other.Providing training at publicly –run training centre to impact effective training to young persons for jobs which have good demand abroad can be quite useful here, because the returns in remittances from skilled labour are substantially higher than unskilled one. For speeding up employment locally, action like making available training, advisory service, capital support and assistance to the country’s hu ge unemployment youth at grassroots level should merit a serious attention, in addition to other supportive public policies in areas of infrastructure faculties, investment-friendly regulatory reforms etc.Training and assistance, are, of course, Vital for expending the scope for self-employment opportunities, particularly in the dairies and livestock, poultry breeding, growing of novel agriculture products for export, etc. The policy objective should be pro-active here particularly for encouraging the labour intebsive sectors to maximize employment. The Nature Unemployment means the state of being without any work both for the educated and uneducated for earning one’s livelihood. Unemployment problem has become a great concern all over the world. But nowhere in the world, this problem is so acute as in Bangladesh.Thousand of people in our country are without any job. Cause of unemployment: Bangladesh, like other developing countries, suffer form large-scale disguised unemploy ment in the sense that, even with unchanged techniques of agricultural a large part of the population engaged in agricultural could be removed without reducing agricultural output. Beyond agriculture, disguised unemployment also exists in large industries, offices and organization, particularly in the public sector. Unemployment among the educated youths is one of the major problems in Bangladesh.The unemployment rate for the population having secondary certificate level education and above is significantly higher than those with a lower level education, The unemployment rate for educated women is higher compared to that for the male population. In Bangladesh salaried/wage employment in the formal sector is not big enough to take care of the huge number of unemployment. Employment promotion, especially , creation of opportunities, continues as the most important function of the Bureau of Manpower Employment and Training, The Fifth Five-year plan for 1997-2002 had set a target of cre ating additional employment of 6. 5 million persons . of this, a total of 1,60,000 persons expected to be engaged in emphasis had been given on training and credit support to women micro entrepreneurs in cottage industries and other traditional and non-traditional sectors including skill development for service industries and non-farm activities. The private sector and NGO’S are also playing a vital role to this end effect of unemployment problem. The efforts of rural-urban migration in Bangladesh are analyzed to identify a relationship between migration and unemployment, Poverty, unemployment and natural hazards appear to be the main reasons for the rural exodus.The preference for moving to a large city is found to be determined by the urban bias in planning both national and international authorities, and by the public amenities and resources available in the urban areas. An analysis of the levels and trends in urbanization reveals the notable role of rural-urban migration in the rapid growth of the urban population. Most migrants are young, unmarried males of working age. A case study of migrants in Dhaka city illustrates the reasons for and consequences of migration. It is concluded that rural-urban migration is mainly a survival strategy of rural poor. ImpactAccording to a study of the international Labour Organization (ILO), the rate of growth of unemployment in Bangladesh was 1. 9 per cent in the decade of the nineties. But the growth in unemployment currently is 3. 7 percent. The ILO Figures also show Bangladesh in the twelfth position among the top twenty countries in the world where unemployment is rising . The number of the unemployed in Bangladesh now is estimated at 30 million. The way the rate of unemployment is increasing, it is feared that at this rate unemployment would soar to some 60 million by 2015. According to another estimate, every year some 2. million young persons are becoming eligible for jobs whereas only about 0. 7 million o f them are getting unemployment. The number of the ‘disguised unemployment’ and economic term meaning underemployment people or employed to a degree less than their potential, in some 32 per cent. The huge number of the unemployed and the underemployed in workforce gives an idea of the number of the parasitic ones in the population. Employed persons not only consume from the economy but they also contribute to the economy through production activities and discharge of various services.The unemployed people in contrast only live of the economy or their families and society. They are an absolute burden on the state. Not only being liabilities in the economic sense, politically and socially they are considered to be a source of tension and turmoil. The linkage between unemployment and crimes is obvious. Therefore, all governments in Bangladesh will need to address the unemployment issue very seriously indeed before it turns worse. The recent floods and the devastating sido r storm plus the restructuring activities leading to retrenchment of workers form state operated enterprises, have added to the unemployment problems.Government will have to start up urgently different work programmers like road building and repairs, reconstruction oh infrastructures, etc. especially in the rural areas and continue them for sometime, to migrate the worst woes of the jobless ones at the grass road level. But for the medium and longer terms, the present interim government which is doing pathbreaking works in vital areas, should also adopt a plan of action of tackle unemployment. It can start such a plan and leave gradual implementation of it to successor government.Insufficient investment have been frustrating the creation of employment opportunities of Bangladesh. Government here needs to identify each of the factors that can contribute to a better investment climate. The same would include improvement of law and order, much lowering of the interest rate of borrowing , addition to and up gradation of infrastructures to be supportive of enterprising. Fiscal policies that create level playing fields for local entrepreneurs in relation to foreign competitors, fiscal incentives such as tax reduction and tax exemption, etc.Government will need to act imaginatively and effectively in relation to each of the above factors and more to improve the investment climate that in turn would accelerate economic activities and make the desired impact on the unemployment situation. However, there is also need to be clear about the policies to be pursued to create employment. New enterprise will absorb the unemployment. But capital intensive enterprise will employ a smaller number than labour intensive ones which will understandably employ a greater number. Thus, enterprise with labour intensive character should be identified and encouraged.Government can make a big contribution towards reducing unemployment by also building and operating a large number of trainin g institution to train the jobless ones in different vacation for them to be fit enough to take up employment in the country, to go abroad of doing job or to engage in self-employment. Government ample spending for skill development is all more necessary because private sector more prefer not to invest in this area out of consideration of law profits. The high costs of skill training under the private sector is also likely to exclude most seekers of such training on the ground of their inability to pay for the training.Thus, Government’s role of skill trainer is very important. But government can expect to recover the investment it will make in this area by receiving payments from people who would get jobs after such training. Causes Bangladesh, like other developing countries, suffers from large-scale disguised unemployment in the sense that, even with unchanged techniques of agriculture a large part of the population engaged in agriculture could be removed without reducing agricultural output. Beyond agricultural, disguised unemployment is also existing in large industries, offices and organizations, particularly in the public sector.Unemployment among the educated youths is one of major problems in Bangladesh. The unemployment rate for the population having secondary school certificate level education and above is significantly higher then those with a lower level of education. The unemployment rate for educated woman is higher compared to that for male population. . In Bangladesh salaried/wage employment in the formal sector is not big enough to take care of the huge number of unemployment. Employment promotion, especially , creation of opportunities, continues as the most important function of the Bureau of ManpowerEmployment and Training, The Fifth Five-year plan for 1997-2002 had set a target of creating additional employment of 6. 35 million persons . of this, a total of 1,60,000 persons expected to be engaged in emphasis had been given on train ing and credit support to women micro entrepreneurs in cottage industries and other traditional and non-traditional sectors including skill development for service industries and non-farm activities. The private sector and NGO’S are also playing a vital role to this end unemployment problems. Effect of Unemployment problems:The efforts of rural-urban migration in Bangladesh are analyzed to identify a relationship between migration and unemployment, Poverty, unemployment and natural hazards appear to be the main reasons for the rural exodus. The preference for moving to a large city is found to be determined by the urban bias in planning both national and international authorities, and by the public amenities and resources available in the urban areas. An analysis of the levels and trends in urbanization reveals the notable role of rural-urban migration in the rapid growth of the urban population.Most migrants are young, unmarried males of working age. A case study of migrants in Dhaka city illustrates the reasons for and consequences of migration. It is concluded that rural-urban migration is mainly a survival strategy of rural poor. According to a study of the international Labour Organization (ILO), the rate of growth of unemployment in Bangladesh was 1. 9 per cent in the decade of the nineties. But the growth in unemployment currently is 3. 7 percent. The ILO Figures also show Bangladesh in the twelfth position among the top twenty countries in the world where unemployment is rising .The number of the unemployed in Bangladesh now is estimated at 30 million. The way the rate of unemployment is increasing, it is feared that at this rate unemployment would soar to some 60 million by 2015. According to another estimate, every year some 2. 7 million young persons are becoming eligible for jobs whereas only about 0. 7 million of them are getting unemployment. The number of the ‘disguised unemployment’ and economic term meaning underemployment people or employed to a degree less than their potential, in some 32 per cent.The total civilian labour force of the country in 1996-1997 was estimate at 42. 97 million, of which 34. 7 million were male and 8. 27 million were female. These figures, However excluded the female labour force engaged in activities like poultry, livestock, paddy husking, preservation of food etc conducted in rural households and considered as domestic work rather than economic. Since 2000, the U. S manufacturing sector has lost nearly 25 percent of our total manufacturing workforce. Many of those jobs have gone to communist china, where toys for the U.S market are made is sweatshops by workers paid as little as 36 cents per hour and many white-collar jobs have gone to India where telephone operators cab be hired for $1 an hour. Leading economists are becoming willing to admit that their devotion to free trade was misplaced. Paul Samuelson, Nobel prize –winning economist and a dominating figure in U. S economics decades, faced reality before he died and admitted, â€Å"there is nothing in the theory that says trade is always a win-win for every group’’. Dr. Jerome coesi’s latest book, America for sale, is a superb explanation to help the public understand our current economic woes.He shows that free trade is turning America into a two-tiered country like many foreign countries, with few of the very rich and a lot of very poor, while the middle class loses big time. Extent According to a study of the international Labour Organization (ILO), the rate of growth of unemployment in Bangladesh was 1. 9 per cent in the decade of the nineties. But the growth in unemployment currently is 3. 7 percent. The ILO Figures also show Bangladesh in the twelfth position among the top twenty countries in the world where unemployment is rising. The number of the unemployed in Bangladesh now is estimated at 30 million.The way the rate of unemployment is increasing, it is fea red that at this rate unemployment would soar to some 60 million by 2015. According to another estimate, every year some 2. 7 million young persons are becoming eligible for jobs whereas only about 0. 7 million of them are getting unemployment. The number of the ‘disguised unemployment’ and economic term meaning underemployment people or employed to a degree less than their potential, in some 32 per cent. The total civilian labour force of the country in 1996-1997 was estimate at 42. 97 million, of which 34. 7 million were male and 8. 7 million were female. These figures, However excluded the female labour force engaged in activities like poultry, livestock, paddy husking, preservation of food etc conducted in rural households and considered as domestic work rather than economic. Index Mundi, a web based statistical data provider, the following chat has been published. This entry contains the percent of the labor force that is without jobs. Substantial underemployment m ight be noted. Bangladesh-Unemployment Rate (%) |Year |Unemployment Rate | |2000 |35. 2 | 2001 |35. 2 | |2002 |35 | |2003 |40 | |2004 |40 | |2005 |40 | |2006 |2. 5 | |2007 |2. 5 | |2008 |2. 5 | |2009 |2. 5 | |2010 |5. 1 | |2011 |4. | |2012 |4. 8 | Types Economics break unemployment down into three distinct varieties- structural, Frictional and Seasonal. Below we will examine each type of unemployment to see how they differ. Structural Unemployment The glossary of Economics defines Structural Unemployment as: â€Å"Structural unemployment is an unemployment that comes form there being an absence of demand for workers that are available†. There are two major reasons that cause of absence of demand for workers in a particular industry: 1.Change in Technology. 2. Change in Tastes. Frictional unemployment: The Glossary of Economics defines Frictional Unemployment as: â€Å"Frictional unemployment is unemployment that comes from people moving between jobs, careers and locationâ₠¬ . Source of Frictional unemployment include the following: 1. People entering the workforce from school. 2. People re-entering the workforce after raising school. 3. People changing un-employers due to quitting or being fired. 4. People changing careers due to changing interest. 5. People moving to a new city and being unemployed when they arrive.Seasonal Unemployment : Seasonal unemployment is unemployment due to change in the season-such as a lack of demand of department store santa clauses in January. Seasonal unemployment is a form of structural unemployment, as the structure of the economy changes from month to month. Possible solution to unemployment In order to eliminate this problem. We have to mobilize all our energies to this grade purpose without west in time. The most essential measure industrialization. A large number of mills, factories in industries should be setup where money of our youths we get opportunity to work.A grade change should be brought in our educatio n system. More importance should be given on professional, vocational and technical education. These will make a opening to work in different industrial sector both home abroad. The educated youth should change their attitude to life. They must learn to choose independent carrier. They can start small business. In fact self employment in possible solution to this great problem. it is very effective to search jobs on various freelance. Web sites and get desired jobs easily.Step should be taken to setup property farming, cottage, industries and to open new system of public work to create a job for unemployment people. Exporting manpower can solve this problem to a little extent. If proper measurement is taken this number can easily be increased. But no attempts will dear any fruit unless effect measure are taken to keep the population growth under control. Conclusion in the prime minister questions-answer session on February 17, Prime minister Sheikh Hasina disclosed in the house her government’s plan to bring down unemployment rate to 15% from the existing 40% by the year 2021.She listed the programs that her government at already undertaken for employment generation to remove the cause of employment these include, imparting technical training to unemployment youth’s through 38 technical training centre, building 30 more technical training centre in this districts with no such centers and upgrading syllabus of 23 courses run by the manpower, employment and training bureau of international standards keeping in mind the demand of international recruiters. In the latest labour force survey (LFS) 2005-2006 published in 2008 of Bangladesh bureau statistics.The countries labour force (15 years+ population) stood at 84. 6 million. in the LFS of 2002-2003 it stood 80. 8 millions. The populations below the age of 15 years falls into the category of child population and can not as per law be treated as labour force. Even if we stick to the 2005-2006 LFS fig ure of 84. 6 million. Secondly, according to the LFS 2005-2006 the annual labor force growth rate for the period 2000-2003 to 2005-06 stood at 2. 21 percent which is higher than the annual population growth rate. Have we been able to increase job opportunities at the above growth rate of force.Thirdly, when the rate of unemployment in the united states is hovering around 10 % (9. 7 % in January,2010) The important of timely and reliable information can hardly be over-emphasized the basis for this information is nationally produce statistic. Statistic provide information or evidence needed for the government daily administration and policy analysis in view of what has been started above. It is high time to as certain the correct rate unemployment in the country and it must be free from political bias in the generator national interest.Bibliography The Cause of unemployment (Written by Murtaza ali Page no 24, 25, 26) Text Sociology Written by Gorge fayel ( page 13, 14) Unemployment- p roblem-is-a-great-concern-in Bangladesh (Written by Prof. Abdul Aziz Chapter -5, page 56, 57, 58. ) Unemployment-Problem in Bangladesh (Written by Prabir Ray page 9, 10, 11) http://www. oppaper. com/essays/the-causes-of-Unemployment/529084 http://bangladesh2day. com/newsfinance/2010/march/2/Ascertaining-unemployment-rate-php http://www. financialexpress-bd. com/search_index. php?Page=detail_news&news_id=23491 http://www. goarticles. com/article/unemployment-problem-in-Bangladesh/2784210/ A Term Paper On Impact of Globalization In Economic Growth Under The Guidance of and Supervision of Dr. Mahbub Sarfaraj Lecturer of Management Kabi Nazrul Govt. College Dhaka Submitted By Marium Akter Roll Number : 961 42 78 Registration Number :165 23 59 Department of Management Kabi Nazrul Govt. Collage ———————– Kabi Nazrul Government College Dhaka Dhaka Kabi Nazrul Government College Dhaka, Bangladesh