Explain Aristotle’s understanding of the Prime Mover Essay

Explain Aristotle’s understanding of the Prime Mover (25 marks) In Aristotle’s book the Metaphysics, he calls the cause of all movement the Prime Mover (P.M). The Prime Mover to Aristotle is the first of all substances, the necessary first sources of movement which itself is unmoved. It is a being which is eternal, and in Metaphysics Aristotle also calls this being ‘God’. However, before he came to know the existence of the P.M he first started noticing the constant changes around him, which led him to question the existence and the purpose of the world, universe and the things around us. He examined that everything that exists was in a permanent state of ‘movement’ or ‘motion’. By ‘motion’ Aristotle was linking it to the Greek word ‘motus’ which refers to change. He noticed that everything in the universe is in a state of change, for example, the weather and seasons are always changing. Even the human bod y is going through the process of change every single day. Everyday the body changes, we grow old and age, we lose hair and skin cells. This led Aristotle to observe four things: 1) The physical world was constantly in a state of motion and change. 2) The planets seemed to be moving eternally. 3) Change or motion is always caused by something. 4) Objects in the physical world were in a state of actuality and potentiality. Summing up from these four points Aristotle came to a conclusion that something must exist which causes the motion and change to occur without being moved itself and the ‘uncaused change’ must be eternal. Aristotle reached this conclusion by observing that if something can change, it exists in one ‘actual’ state and has the ‘potential’ to become another state, for example, an actual child is potentially an adult and a cow in a field is potentially a piece of roast beef. He realised that if things come to existence they must be caused to exist by something else and if something is capable of change that means it is potentially something else. He argued that behind every movement there must be a chain of events that brought about the movement that we see taking place, such as A to B to C and so on. However, he stated that this chain of events must lead back to something which moves it but does not move itself. Therefore the ‘uncaused cause’ must be different and separate from the rest of the chain inorder to start the whole process. So according to Aristotle the eternal cause of motion is the  Prime Mover. The Prime Mover causes the movement of other things, not as an efficient cause, but as a final cause. In other words, it does not start off the movement by giving it some kind of push, but it is the telos of the movement. This is important for Aristotle, because he thought that an effective cause, giving a push, would affect the P.M by the act of pushing and this could not happen because he thought that it would change the P.M’s knowledge. Aristotle believed the Prime Mover is the final goal of movement that is why it causes things to move by attraction in much the same way that a saucer of milk attracts a cat. The milk attracts the cat but cannot be sai d to be changed in the process. This is why Aristotle believed that the P.M is the source of all motion. To Aristotle the P.M is God (for this essay I will be refering to God as ‘He’). Aristotle believed that God exists necessarily, which means that God does not depend on anything else for it’s existence and is not capable of change because He is pure actuality by nature and its nature is good. He never changes or has any potential to change and Aristotle’s book ‘Metaphysics’ he states that God is ‘a living being, eternal, most goods†¦Ã¢â‚¬â„¢ therefore He never begins and never ends, and so is eternal. Aristotle argued that the P.M had to be immaterial meaning it could not be made of any kind of stuff because matter is potential to change. So since it is immaterial, it cannot perform any kind of physical, bodily action, therefore the activity of the P.M must be purely spiritual and intellectual. Aristotle also concluded that God only thinks about himself; so he do es not know about our physical world, he does not have a plan for us and he is not affected by us because if He was then it would mean that God changes, because his knowlege would change. He even defines God as ‘thought of thought’. Overall Aristotle’s understanding of the Prime Mover is that He is God, the cause of all motion and in his book the ‘Metaphysics’ he considers God as a leader and in the order of the universe. How far is Aristotle’s concept of the Prime Mover consistent with the biblical concept of God? (10) (AO2) Aristotle’s concept of the Prime Mover and the biblical (Judeo-Christian) concept of God is in many ways very similar. However, they are also very different and varied. Yet both Aristotle’s Prime Mover and the biblical God share the same foundations- they are both eternal and responsible for change in the world. Judeo-Christian God creates the universe from nothing (creatio ex nihilo)  and Aristotle argued that nothing existed before the Prime Mover started the chain of causes. Also the Judeo-Christian God is an intelligent designer who crafts a purposeful world (e.g. the purpose of the star s = light). Aristotle also believed that the universe was a purposeful (telelogical) place: individual objects have a ‘telos’ (e.g. chairs = sitting) and the ultimate Final Cause is the Prime Mover. Another similarity between the two is that the Judeo-Christian God is immaterial because creation is an ‘act of will’ and God creates through his word (‘Let there be light’) or spirit. Aristotle’s Prime Mover is also seen as immaterial. It is a spiritual energy and not made of the same physical materials as the material world. Lastly, the Judeo-Christian God is seen in Genesis 1 as a transcendent God. It is the cosmic creator who is removed from the universe. It is an impersonal being. Aristotl’s Prime Mover is also transcendent and immaterial. It ‘moves’ things not throught involvement with them but through ‘attracting’ them. However, they are in many ways different such as the Judeo-Christian view of God is that He is in volved with His creation and is personal. For example, the biblical God answers prayers. Whereas the Prime Mover is the opposite because it is a necessary being but one who does not in any way interact and act in the world. It is a impersonal being. Also the Judeo-Christian God is not completely immaterial. In Genesis 3, God ‘walks’ in the Garden of Eden and in the New Testament, God becomes man in the human form of Jesus. This belief is known as the incarnation (‘God becomes flesh’). Jesus walks on the earth and experiences pain, temptation and eventually dies. This is very different to the idea of Aristotle’s Prime Mover who is a ‘spiritual’ and ‘immaterial’ being. So overall I think that Aristotle’s Prime Mover and the biblical God are the same because they share the same characteristics and the reason why is because the Prime Mover idea influenced medieval thinking about the nature of God.

Chinese Starbucks Essay

Starbucks has found success in the USA because of marketing towards â€Å"20-40 year old men and women who are concerned with social welfare† thus creating the coffee house atmosphere-Heather Karr Employee of Starbucks in Madison, WI. The coffee house in the US includes college students studying, young professionals having casual meetings, â€Å"Soccer Moms† grabbing a cup of Joe after dropping the kids off at school, etc. All-in-all Starbucks is selling not coffee but the idea of a â€Å"coffee break†, a time during the day that one can sit back, relax, and forget about the daily grind. Starbucks had to consider this as part of their main success and research China’s culture to see this same possibility existed for them there. Luckily they found that it did. Due to China’s communistic government implementing a â€Å"One Child Law† the same age demographic surprisingly existed: 20-40 year old men and women who want a place to socialize and take a break from their lives. The Family Planning Law in China was implemented to control the growing population in China, has many exceptions, and began in 1978 (enforced in 1979). Learning about this law in a history class previously, I never considered it in a marketing aspect. These individuals have grown up as single children and may have a sense of entitlement. They are well educated as the US media is always reporting on their countries’ amazing international grade reports. So, this group of â€Å"Little Emperors† are more aware of western culture than generations previous and Starbucks had to of discovered that they could give these people a taste of the western world. Lastly, Starbucks had to consider China’s tea consumption before expanding. While the US likes their coffee, China prefers tea in their social events. How could Starbucks take their signature product of coffee and still be successful? They had to sell the coffee house experience and that’s exactly what they did. 2. Discuss the key political and legal factors Starbucks had to consider in the Chinese marketplace. What are the risks of entering a country with these factors? What changes have occurred in China’s polit- ical and legal structure to the advantage of foreign companies? The standout political/legal factor for Starbucks expanding into China is Communism. Starbucks company originated in a democratic capitalistic country where it became successful. Expanding into China requires a lot of research into not just foreign laws but a very strict and controlling government that frowns on western practices. In 1999 when Starbucks began its expansion they did it with joint ventures meaning they licensed the right for Chinese citizens to sell Starbucks coffee and use their logo. Joint ventures and dictatorship are risky ideas and Starbucks could have easily failed. They made their risk minimal by only receiving royalty fees for the license to use their logo. China became a member of the World Trade Organization in 2001 thus opening the ability for American companies to freely participate in their market. Starbucks took this opportunity buy out is partners and take control over the 60 stores in existence in 2006. From 1999-2006, Starbucks had plenty of time to learn about Chinese culture and educate themselves in Chinese business that allowed them to feel confident about expanding in the future. 3. What demographic factors were important for Starbucks to understand in China? What were the demographics they decided to target? As I stated in my answer to question one, Starbucks had to understand their own target demographic in the successful US market and see if they could replicate that in China. Luckily for them it did. Political factors like the â€Å"One Child Law† gave way to a culture shift among previous generations that allowed for the 20-40 year old demographic to thrive. These citizens are independent, educated, and desire to socialize amongst their peers with no where to feel at home in. Starbucks, by â€Å"tweeking† their menu slightly and adding more dining space than other shops in other countries, adapted to these Chuppy† demands and found success. 4. What was the initial global-market strategy Starbucks employed to enter China? Discuss the advantages and disadvantages to this early strategy. How has their strategy changed since then and why? Initially Starbucks implemented a joint venture strategy. Meaning, they licensed their company for use in China believing that Chinese business individuals could have a better chance at success than they could. They also took that opportunity to learn and educate themselves about Chinese culture and business all the while receiving royalties for the licenses. This was a minimal risk for them as China was not a country that allowed a global market place to exist until its membership in the WTO in 2001. Their membership created an opportunity for Starbucks to take control of its licenses and eventually to expand further into the country.

Franklin D. Roosevelt’s New Deal Essay

In the first hundred days of FDR’s presidency he passed fifteen major bills. One of the most famous was the proclamation nationally issued that all banks would be temporarily closed, forming the Emergency Banking Act. Other bills passed in this â€Å"Hundred Days of Action† include the Tennessee Valley Authority Act, the Beer- Wine Revenue Act, the creation of the Civilian Conservation Corps, and the Home Owners Loan Act. These and many other like bills were the shining light at the end of tunnel for Americans as Roosevelt came into office striving to end the Depression. Fireside chats, which were radio broadcasts, were a way for Roosevelt to connect with Americans on a more personal level while managing to give them a sense of comfort. He was able to give insight to the general public through these broadcasts. He gave Americans hope that things would be better and they put their trust in him. Successful in short term relief, the New Deal did not end the Great Depression but did push the economic circumstances to a higher quality. As far as long term effects are concerned our country’s governmental structure has been forever changed. After the New Deal’s policies were administered a dominant new political coalition was in place, in turn, creating Democratic majority that lasted for half a century. Roosevelt gave Americans something new and different to expect from government and pushed the country toward its post war boom that many say was the â€Å"golden age of American capitalism†. Through the New Deal and his presidency he formed our views and outlook to how the modern American government should and is conducted. Programs put in place by the New Deal gave hope to Americans in this morbid, bleak time. He gave us the layout in which we practice modern government. As said by Roosevelt, â€Å"The country needs and, unless I mistake its temper, the country demands bold, persistent experimentation. It is common sense to take a method and try it: If it fails, admit it frankly and try another. But above all, try something. † He tried and pushed forward through a troublesome, oppressive time that seemed as if it would not ever end. If he had not done so it is unimaginable to think what would have become of our country.

What are the best way to educate American children Essay

What are the best way to educate American children - Essay Example It helps an individual to grow as a person, by exposing them to knowledge and resources. First let’s take a look at what critical thinking is from a psychological view point. Our brain first must comprehend information before one can conceptualize or evaluate observations presented to us. In the simplest form critical thinking can be as minute as deciding to put another log on the fire or not because you intend to retire for the evening in the next 10 minutes. One must remember that at all levels out brain is collecting information to use and evaluate for our next actions. The thinking process that is appropriate for critical thinking depends on the information area (e.g. scientific, mathematical, historical, etc.) but some universal measures are: clarity, accuracy, precision, consistency, relevance, sound empirical evidence, good reasons, depth, extent and fairness. All in all, critical thinking is the process some refer to as "thinking outside of the box", which takes practice. Critical thinking is a developed skill in any one person; everyone can lapse into irrational or scattered thoughts. Critical thinking is measured by degree on the level of experience in a given area or pertaining to specific areas of questions. No one is a born critical thinker, but only through training can a person obtain higher degrees of quality in this area whereby he or she are less prone to subjective tendencies, and flawed insights or occasional gaps in experiences. Therefore, the mark of excellence in critical thinking is a lifelong undertaking. A college education helps to provide students with critical thinking skills, which may be said to include analytical, and problem solving skills. Assignments, tests, and class discussions develop critical thinking skills, and virtually every class at college requires some array of written and work participation. Universities and colleges require that students develop and share their own ideas about interesting subjects. These

The culture of the city of Cairo, Egypt Essay Example | Topics and Well Written Essays - 1000 words

The culture of the city of Cairo, Egypt - Essay Example Cairo is the largest city in Africa and one of the most densely populated cultural center of the region.It is famous for its proximity with the world famous pyramids of Giza and Great Sphinx. Cairo has derived its modern name from the Arabic name 'Al-Qahira. In local vernacular, it is also called Masr. Heritage Sites Memphis was the ancient city located at 20 kilometer to the south of Cairo, which was founded by the pharaoh Menes in 3000 BC. Cairo derives its heritage from Memphis as it remained most important city during those days having located at the mouth of Nile Delta.The ruins of the Memphis tell about its magnificent past and they have been preserved since 1979 as a World Heritage Site. Heritage sites such as Saqqara (Sakkara) Pyramids, Mosque of Ibn Tulun, Khan Al-Khalili, Egyptian Antiquities Museum, Citadel (Al-Qalaa) and many more in Cairo exhibit rich heritage and cultural pride of the place. Gates known as forte were the pride of ancient Cairo. They defended the country from the enemies. It also used to serve the purpose of Source: http://www.touregypt.net/historicalessays/cairogates.htm administration. Only residents of Cairo were allowed to enter the gates. In 1087, the three gates Bab El Fetouh, Bab Zuweila and Bab El Nasr were to built by Badr El Gamali, the prince of armies. The Egyptian Museum The Egyptian Museum is located at Tahrir square in Cairo. Built in 1897 during the reign of Khedive Abbass Helmi II, it has 107 halls. The ground floor is full of huge statues. Mummies and Tutankhamon treasures are situated in first floors. The museum is divided into several sections. Old Kingdom monuments and pre-dynasty stuff are housed at second floor. Middle Kingdom monuments are located in third section. Monuments of the Modern Kingdom are housed in the fourth section. Monuments of the Greek and Roman periods are stationed at fifth section. Coins and papyrus are placed at sixth section. The seventh section is devoted to sarcophagi. The tomb of Tut ankhamun was discovered by Howard Carter. It took almost 10 years to finish excavation job to unleash this tomb. Perhaps, the most fascinating group of artifacts that are available anywhere in the world is said to be associated with the discovery of King Tutankhamun's tomb. Tutankhamun is said to have ruled Egypt somewhere between 1334 and 1325 BC. The tomb is housed in the basement of the Egyptian Museum in Cairo. More than a million tourists visit the museum annually besides local Egyptians. (The Egyptian Museum†¦) Heliopolis The ancient site of Heliopolis is situated to the northeastern side of greater Cairo in a district called Matariya. It is one of the three ancient cities of ancient Egypt after Memphis and Thebes. Heliopolis called the 'City of the Sun' in Greek is now largely surrounded by the suburbs of Cairo. It lay inland to the west side of the river Nile. It is said that it was famous for its learning centers and famous temples, which continued even during Graceo-R oman times. The city got destroyed during 525 BCE and 343 BCE due to Persian invasion although its old reputation and structures attract tourists till date. (Heliopolis†¦) The Citadel The Citadel is most popular among non-pharaonic monuments. It houses museums, mosques and is one of the most fascinating monuments on Cairo’s skyline. When viewed from Source: http://www.touregypt.net/featurestories/citadel.htm the north side, it reveals its true medieval glamour. The area was known for its cool breeze. Saladin built the area to safeguard themselves from the attackers because the area had a strategic advantage of overlooking Cairo. In fact, Saladin had implemented his native tradition of Syria where each town was built like fortress to safeguard the local ruler. The construction was round towers so that it could be used to flank fire on those who try to scale the walls. The citadel walls were made 10 ft thick and 30 feet high. After Saladin several rulers reinforced the str ucture of citadel. (The Citadel in

Creating, Financing, and Marketing a Business Research Paper

Creating, Financing, and Marketing a Business - Research Paper Example With such a well diversified blend of people coming in to operate the business, a lot of costs can be saved in hiring other people to do these kinds of technical work for them. Moreover, in the case a loss occurs in a partnership, not all of it will be taken by a single person like in the case of sole proprietorship. Here, each partner will be liable to the maximum amount of their investments (or if agreed otherwise) they have made. Partnership also have a lot of cons. In case of partnership, often time the agreement are framed in such a way that if any one partner leaves, the entire partnership / business needs to be would up. This is one of the major problems in partnership as a mode of ownership. Yet another very important con is that there may be differences in views of partners as how they want to carry out the business or resolve a particular issue. In such case, usually voting is carried out to determine a way out. This would mean there would be several partners who would have to agree to something against their wishes. Funding Options For Small Business There are a lot of possible ways which small businesses can use to fund their operations. The options include debt financing, grants, equity financing, loans from friends and family, business angels or angel investors as they are better known, venture capitalists and strategic investors. A few of these sources re discussed in more detail below. Almost all small businesses finance their operations via loans taken from financial institutions. These loans are often easy to take come with a repayment schedule an interest rate that is decided upon at the time of cracking the deal. The plus side of debt financing is you don't have for equity financing, thereby you'll solve equity issue expenses. Secondly, getting a debt is pretty much an easy option as compared to floating a company's shares on the stock market. Government grants can also be used to fund the operations of small businesses. These grants are usu ally offered to businesses in the research and development side and those working in the technology sector (McCaffrey, 1992). Its benefits include the fact that this is literally free money that doesn't need to pay back and investors love the boost that such grants provide. On the negative side, the use of grant money is often dictated by the government and it cannot be used for anything else. How Managerial Accounting Can Help Managers With Product Costing, Incremental Analysis And Budgeting Managerial or cost accounting deals with costing techniques. It is generally concerned with providing price sensitive information to decision making managers, as they're the people who are responsible for product costing and control operations. Managerial accounting can help managers with to determine cost units and allocate them to different cost centers. Once all these cost units have been allocated to different cost centers, then the total cost per unit can be determined and hence product co sting becomes easier. Managers generally make decision by selecting between different alternatives available to them. Since a lot of information is available when deciding product costs, decision making becomes a much easier process when they only examine the amounts that differ between different decisions and make a decision accordingly. In such cases differences only occur between relevant costs, and they're the ones that need to be considered in incremental analysis since non

Research Jupiter's moon Europa Essay Example | Topics and Well Written Essays - 250 words

Research Jupiter's moon Europa - Essay Example Scientists believe, therefore, that Europa may possibly have the necessary qualities to support life, although so far there has been no way of investigating this in order to obtain any certainty one way or the other. If life were to be present on Europa, it would most likely be a fairly basic form, similar to the organisms found near volcanic vents in the seas of earth. Proof of this would, nevertheless, be a big shock to most inhabitants on earth. It would prove that the Earth is not unique, nor the center of the universe, and that life is likely to be abundant , and this might shake some firmly held religious beliefs about the role of mankind. Ideally we should protect any non-terrestrial life from contamination, because living cells could conceivably survive a journey in space (Greenberg, 2010, p. 334), but in practice this may be difficult if invasive methods are used to study any new life form. We certainly should not treat it as a threat to human life, since it would be one of the greatest discoveries ever made. Some precautions regarding introducing any new life form to the earth’s environment would, however, be sensible, just in case of any unforeseen effects on earth’s living creatures. Clark, K., Boldt, J, Greeley, R., Hand, K., Jun, I., Lock, R., Pappalardo, R., Van Houten, T. and Yan, T. â€Å"Return to Europa: Overview of the Jupiter Europa orbiter mission.† Journal of Advances in Space Research 48 (4), (2008), pp.

Recruiting and Selection Essay Example | Topics and Well Written Essays - 500 words

Recruiting and Selection - Essay Example Also, a good time manager is a measure often required when recruiting a right applicant in the executive director position. In past years, nonprofit making organizations started using interim directors as an approach of avoiding non-qualified applicants in the field. The employers use the approach since there is a small, but growing body of knowledge around the executive director position. Also, employers look at the experience of the applicant in order to assist in the transition development of the organization. Legality, reliability, and validity are my best standards that meet the requirements and measurement of being a right executive director. In order to be hired as an executive director in an organization, legal documents play an important role as a ticket to be given the job. Legal documents such as curriculum vitae will help me in identifying my skills and experiences as an executive director. The legality of being an executive director will depend not only on the legal documents, but also the skills and experience I have learnt from the previous job position. Also, the validity of my documents will help me in securing the executive director position. Employers consider valid documents and claims before recruiting new applicants into their organizations. This implies that without a valid claim of being an executive director, a panel can automatically disqualify an application. In addition, reliability is an important standard, which work hand in hand with the experience, skills, str ength, and capability measures. An executive director is supposed to be reliable. A theme in the performance appraisal focus on the attitude of an employee is integrity, dependability, and reliability. Reliability of an employee improves the performance of an organization (Monroy & Zwerling, p. 421-422). I have learnt that legality is an important standard to be considered in any selection process of being an executive director in an organization. In his case, a

Teacher Interview Essay Example | Topics and Well Written Essays - 750 words

Teacher Interview - Essay Example hool, he also participates in harmonizing the objectives of various schools in the district to come up with a common goal that is focused on accomplishing a shared vision. Through interaction with other teachers, he is able to understand the necessary resources for teaching and learning. He is also able to develop new learning opportunities for the teachers and students. Instructional leadership is one of the significant strategies in developing a focused student centered learning environment (Goleman, 2002). Instructional leadership has had significant benefits to the teacher’s role. It has led to a widened scope of learning beyond the classroom and with more people participating in the enhancement of learning. This has made it easy for the teacher to accomplish his duties as the head, contrary to the conventional authoritarian style where the administrator needed not to consult with others (Hargreaves & Fink, 2004). The teachers are presented with a favorable environment to carry out their duties especially through participating in goal setting, which makes empowers them especially by feeling as part of the institution and hence deliver knowledge to the students in a better way. The school is ranked among the best performers in the district, while the students are motivated to accomplish their educational goals through the collaboration that exists among the teachers. Professional leadership is among the leadership styles that are significant in developing focus and vision, which the head teacher uses to promote a sense of purpose for the institution. The teachers are assigned roles depending on their capabilities with the purpose of encouraging them to participate in decision making as regards the various areas that they supervise. Authority is distributed to the teachers and all participate in developing policies that affect learning in the school. The head teacher is always aware of the progress in all classes, including the information that is being

Project Management of Suvarnabhumi airport ( Thailand) Coursework

Project Management of Suvarnabhumi airport ( Thailand) - Coursework Example So, the proposal elaborates the project plan and objective, which is to form a clear idea of the different activities involved. The risks that are encountered in the project are also evaluated in the proposal. The stakeholders are concerned regarding success of project and have certain expectations out of the same. The expectations of stakeholders are also examined with the ultimate result of the project. The impact of the project on the operation, local communities and environment is also highlighted in the following sections of the proposal. Suvarnabhumi Airport, also known as Bangkok International Airport, is regarded as the most populous airport in Thailand. The project of constructing this airport in Thailand was scheduled to end by late 2005; but, the airport was opened on September, 2006 (Kable, 2014). It is now the hub for numerous fairways and serves as a connecting point and regional gateway for the foreign carriers. The project can be evaluated by using the renowned framework, Iron Triangle. Iron Triangle elaborates that every project has its own constraints like, quality, time and cost goal. The airport project had these three constraints too. Stakeholders of the project had expected quality of the airport services and infrastructure to be apt as per their needs and satisfaction. This was hard to maintain, but the project had overcome these shortcomings and had created one of the busiest airport in the world (Chaichalearmmongkol, 2014). The inauguration of the airport was scheduled in the late 2005; but due to huge budget over run, it was postponed to September 2006 (Airports of Thailand Public Co., Ltd, 2014). Thus, the project had to encounter the cost constraint. The project was not completed within the scheduled time because of the budget over run since the time constraint was not followed. On evaluating the project with the help of Iron Triangle framework, it is observed that if the time constraint was followed, then

Critically evaluate budgeting as a tool for planning and control Essay

Critically evaluate budgeting as a tool for planning and control - Essay Example According to them, not only is budgeting a time consuming undertaking, it also is prone to manipulation by the management. Proponents of the budgeting process hold that it is only through budgeting process that firms can achieve proper financial planning. Despite having its advantages, budgeting has its disadvantages too. This paper aims at evaluating the pros and cons of budgeting, with reference to previous research done by different authors. Libby & Lindsay agree that budgeting has its own advantages and disadvantages. According to Libby and Lindsay, most organizations find budgeting as an important key in managing their control systems. Budgeting plays a number of major roles to the management in fulfilling their managerial roles in an organization. Through budgeting, coordination, communication, as well as performance evaluation of an organization is possible. Consistently, and over a long time, external evaluators have used the budget as a measure of organizational performance. The ability of the organization to meet its budgetary commitments determines the organization’s performance. Although in some regions, budgeting has lost meaning, in others, such as North America, it is still a very important element of management control. While many financial experts agree on the need for adopting better budgeting methods, organizations believe that budgeting is an internal process, developed by the individual organization and the management. The fact that budgets are a means of communicating in the organization, and ensuring coordination within the organization makes the budget a very important managerial element. Therefore, organizations cannot do away with them completely. Internal as well as external communication of an organization is an important element of organizational success. Although some managers believe that budgeting is an outdated process, there are organizations that attribute their performance to their budgeting process. Libby & Lindsay (2 007, p. 48) suggests that the efficiency of budgets to an organization in achieving its goals and objectives determines the perception of the budgeting process to an organization. Some believe that budgeting is a normal process, with little or no significance ion the performance of the organization. on the other hand, there are some that believe that without budgeting, achieving organizational goals and performance is unlikely. Therefore, it is the duty of the management to determine the contribution of budgeting to its organization’s goals. Vaznoniene & Stonciuviene (2012, p. 158) argue that budgets play a big role not only in the harmonization of business activities and enhancing cooperation between business units, but also in the delegation of duties and allocation of incurred expenses. According to Vaznoniene & Stonciuviene (2012, p. 160), while some of the organizations believe that budgets only act as a means of evaluating staff performance, they also act in supporting internal control systems of the organization. Jehle does not believe that budgeting as a process has lost its significance altogether. Despite the challenges that it faces, it remains a key factor in the success of the organization. Jehle argues that good managers know the advantages of having a good budget, which is not just consolidating the numbers (1999, p. 56). A good budget according to him is a roadmap, which can guide the company to achieving a competitive advantage. Since

The Consumption Function Essay Example for Free

The Consumption Function Essay To make the income-expenditure model more realistic, we will need to introduce other components of demand, including the government and the foreign sector. But first we need to recognize that consumers planned expenditures will depend on their level of income. †¢Consumer Spending and Income The consumption function describes the relationship between desired spending by consumers and the level of income. When consumers have more income, they will want to purchase more goods and services. A simple consumption function can be described by the equation C = Ca + by In which total consumption spending, C, has two parts. The first part, Ca, is called autonomous consumption, and it does not directly depend on the level of income. The second part, by, represents the part of consumption that does depend on income. It is the product of the fraction b, called the marginal propensity to consume (MPC), and level of income in the economy, y. The MPC, which has a value of b in our formula, tells us how much consumption spending will increase for every dollar that income increases. If b equals 0.7, then for every $1 that income increases, consumption would increase by 0.7 ÃŽ § $1, or $0.70. As firms produce output, they pay households income in the form of wages, interest, profits, and rents. We can therefore use y to represent both output and income. †¢Changes in the Consumption Function The consumption function is determined by the level of autonomous consumption and by the MPC. The level of autonomous consumption can change, and so can the MPC. Changes in either shift the consumption function to another position on the graph. A higher level of autonomous consumption but no change in MPC will shift the entire consumption function upward and parallel to its original position. More consumption occurs at every level of income. A number of factors can cause autonomous consumption to change. Here are two: Increases in consumer wealth will cause an increase in autonomous consumption. Wealth consists of the value of stocks, bonds, and consumer durables (consumer goods that last a long time, such as automobiles and refrigerators). Note that a person’s wealth is not the same as income. Income is the amount of money someone earns during a period, such as in a given year, whereas wealth represents the persons total net worth. Increases in consumer confidence will increase autonomous consumption ratio. Forecasters pay attention to consumer confidence, a measure based on household surveys of how positive consumers are feeling about the future, because it helps them to predict consumption spending. The Conference Board, a nonprofit organization devoted to disseminating economic analysis, publishes an index of consumer confidence each month that many forecasters rely on. A change in the marginal propensity to consume will cause a change in the slope of the consumption function.

Analysis of Values, Expectation and Environment of National Bank of Pakistan

Analysis of Values, Expectation and Environment of National Bank of Pakistan The balance sheet of NBP is better than all other banks operating locally. The services of NBP are accessible to the government of Pakistan, business units and individuals. NBP has shown a remarkable financial performance in 2006 with an estimated total asset of over 634 billion PKR. The overall deposits of NBP have grown-up to approximately 502 billion PKR. According to the annual report of year 2006 the bank earned 26 billion rupees before tax profit and the per share value increased to 24.01 rupees. The boost in revenue was attained due to the huge central banking returns. The bank issued more loans and income received by bank on these loans increased by Rs.10 billion. Bank enjoyed an increase of Rs.268 billion in its advances. To offset the threat of credit alarm NBP retains a strong hold of loans. The bank issues these loans to different range of people/ businesses. For example NBP karobar is a scheme of NBP to help people increase their business, bank also gives loans to SM enterprises and also in agriculture field as well as large business companies. The signed agreement in year 2002 with Western Union is one example of different channels that bank is facilitating for Pakistani living overseas. It provided them a convenient and competent way to transfer their funds to Pakistan. Currently bank has started an efficient online system to track the complete inward clearing. This system ensures that all the branches have complete record of every step of inward remittance until its final acknowledgment of receiving. Learning Outcome 1 Types of values, Links to Values, Vision and Mission One of the key drivers of strategic purpose in an organisation is its values. Values are part of the organisations culture those subconscious assumptions and beliefs that frame its view of itself. TYPES OF VALUES Lencioni , (2002)noted four types of company values Core Values These are the deeply ingrained principles that govern all the organisations actions. These values are the source of a companys distinctiveness. Aspirational values Aspirational values are those principles that are essential for prospect achievements. Here is where conventional morals might be out of step with a planned value. Permission-to-play values These values are also called as entrance values; these are non-core and non-distinctive values. These are the minimum principles of manners that are given in employees instruction manual. Accidental values Accidental values are those intellectual standards that are engaged for approval however these standards do not actually reflect the central or inspirational principles. Core values of National Bank of Pakistan NBP believes in reliability of premier standard Superiority in customers service is another core value of NBP NBP admits the teamwork and it has a performance based culture i.e. rewards are given on performance base NBP improves its expertise for upcoming confronts It builds an understanding of public and neighbourhood responsibility NBP creates ethics for its stakeholders Morals work collectively with visualization to produce the structure of your tactical aim, and from your structure come your exact plan and objectives. At times difference between vision and mission is unclear. A vision is an inspiring declaration of anywhere the company desires to be, while the mission is a declaration of present strategic situation. The Vision A vision declaration  is occasionally identifies an image of your business in the prospect however its so much further than an image. Your visualization is your idea, the outline for your calculated arrangements. The Mission A mission declaration  is a concise explanation of a businesss primary intention. It answers the question WHAT IS OUR PURPOSE OF EXISTANCE. The mission enounces the companys aim together for those in the company and for the community. Vision of NBP To be known as a leader and a product identical with belief, uppermost standard of service and excellence, worldwide best exercise and public duty. Mission of National Bank o Pakistan The mission of NBP is to seek the ethics that will enable the bank Infect the bank of realm it will focus on the following NBP will institutionalise a value and performance based culture. Will create a unique brand name by offering top class services. NBP will adopt the premium management strategies. It will focus on maximising the value of its stakeholders. Evaluation of NBPs Vision against its suitability There are many ways/ tools to evaluate the mission statement of an organisation. I have chosen the five ways suggested by HAMEL and PRAHALAD in year 1994. These are: Foresight NBP has a strong and powerful vision statement. The flow in its vision is very logical and arranged. All the three parts of the vision are in steady relation in an attractive way. It demonstrates the strength of the banks planning for future. The primary element of the banks vision statement says to be known as the leader face the foreseeing part of its vision. Breadth NBPs vision is vast enough to appreciate different topics. The vision is about giving answer to the continuous changing market. By covering the top international practices its vision shows its wideness. Uniqueness The desire to continue its participation to provide best global practices gives its mission statement uniqueness. Consensus As it is possible to fulfil the vision statement of the bank its vision is also consensus more over all the assembly like board of directors, chief executive officers and voice presidents are agreed on it. Action-ability Its vision clearly mentions the future opportunities in a proper manner. To enjoy being a leader in banking field NBP is applying top quality management skills. The excellent team work, high standard service and its sincerity with its work makes it well qualified to face the upcoming confront and to create values for its stakeholders. Evaluation of Mission Statement To evaluate the mission/ objectives of NBP I have chosen the SMART tool. The SMART analysis of NBP is as following: S Specific The mission statement of the NBP is to the point. It is very clear and understandable. Every point of its mission statement is well defined and logical. M Measurable Here measurable means quantity. To the best of my understanding and knowledge the term Measureable can best fit if NBP has achieved the targeted revenue, number of branches, number of customers etc. And I think the answer is yes even more than that. Because it is a purely government organisation people have trust in it. A Achievable As one can clearly see that NPBs mission statement recaps the basic strategy to realize the goals of the organisation it states the key goals that the workers should struggle to meet. This declaration is given in very clear points and I think its very much attainable/ achievable. R Realistic The approach of NBP towards its mission/ objective is very realistic. I mean there is sense of what it states. Like its says to maximise its stakeholders value, means by providing top quality services and providing its stakeholder continuous profit NBP will do its best to increase its stakeholders value and improve their life. T Time-bound The time bound factor means it should specify the time when its going to get these objectives/ missions. As far as my knowledge about the company is concerned NBP has not given any time limit for achieving its missions/ goals. Learning outcome 2 Stakeholder Analysis; managing expectations Definition of Stakeholder Freeman and Reed (1983) suggested two definitions of an organisations stakeholder i.e. narrow and broad. The broad definition says that a stakeholder is a group or individual who can either affect the achievements of the organisation or is affected by the achievement of the organisations objectives. The narrow definition says a stakeholder is an individual or a group of individuals on which the organisation depends for its continuous survival. (A stake holder rationale for risk management 1st edition 2008 Gregor Gossy) Stakeholders of National Bank of Pakistan As NBP is a very big organisation so are its stakeholders. There is a long list of its stakeholders some important stakeholders are mentioned in the list below. Shareholders Employees Government Its Creditors Board of Directors Other Businesses SBP Unions Commercial banks Depositors Influence of Stakeholders The banks shareholders have a great impact on the decision making process of the bank as they participate in the voting for the selection of directors after the previous term is expired. They are involved in the top meetings with the general secretary of the bank. Board of directors influence the companys decision as they are the strategy formulators of the bank. The State Bank of Pakistan (SBP) is the central bank and so has a powerful authority on all banks serving in Pakistan. SBP keeps a check on all the operations of NBP. Clearly SBP has a sturdy control on the strategy of National Bank of Pakistan. The employees of NBP also have a great impact on the strategy of the bank. They influence by the efficiency and effectiveness of the service they are providing. For example if they are motivated and working hard it will help the bank achieving its vision in a superior way. So employees at NBP affect the profitability of the banks. Competitive analysis of NBP The companys competitive analysis begins by focusing the overall industry in which a firm competes before market segment or sector level issues are considered. For the competitive analysis of NBP I have chosen the famous porters five forces analysis. Porters FIVE FORCES MODE Competitive Rivalry It is very commanding force amongst the company and its competitors. A strategy followed by a company is successful to an extent it gives to its competitive advantage to its opponents. The strategy could be providing best service, or reducing the price against its competitors price as far as NBP is concerned it is charging very low fee on DDs, transfer by telegraphy, and by post transfer it is also giving many added facilities to the clients and to the country as it states it is a nations Bank Threat from new entrants When new businesses can simply come in the particular market the number of competitor increases and so is the competition. As far as banking is concerned this industry is previously very much located in Pakistan. There are many banks that provide high quality service at a very low fee. So there isnt any risk to National Bank of Pakistan from possible new entrance. NBP as well a community sector bank and there is no chance of being taken over by any new bank. Threat from substitutes The substitute threat is the 3rd factor that can affect the competitions. It means there could be some other services that can be an alternative of the product/ service of the company. In banking sector for example they offer saving schemes, but the general post offices in Pakistan are also providing this service so there is an alternative of the service. The banks should beat their offer of saving in order to take control of the market. Another example could be the Automated Teller Machines (ATMs) which are a substitute of presenting cheques at the cash counters in banks. ATM saves the time but NBP is lacking in this ground. It should look up in this field to compete its rival. Bargaining Power of Suppliers The strength of competition is affected by the bargaining influence of the suppliers particularly when you have a great number of contractors. If you are a bank your suppliers are your customers who supply you money. So as a bank you should offer them quality services, peace of mind, gain their trust at an affordable fee. B/C offer superior services to the customers. B/C charges less on transfer of funds. As a result there is a competition between B/Cs and banks. Bargaining Power of Consumers When clients are strong or in big numbers, or the buy in huge quantity, their purchase influence signifies a key force affecting strength of opposition. Keeping that fact in mind we see that banks have a large number of customers in Pakistan and banks are offering different products to their customers. NBP as well have a big number of clients. So it should offer superior services and good products to its clients to draw their attention to NBP. LEARNING OUTCOME 3 External environment Now we will discuss the external factors affecting the strategic plan of NBP. I have used the most commonly used tool for this purpose that is the PEST analysis. PEST ANALYSIS PEST analysis is a study of the huge outside environment of the company. It is helpful for realising the Political, Economical, Social Technological surroundings that accompany works in. This analysis can be used for measuring market development or slump, to check where you business lays in the market. (The business environment 6th edition 2009 IAN WORTHINGTON CHRIS BRITTON) THE PEST ANALYSIS OF NBP Political Impact of economic science striking and NCBs Denationalization strategy of the authorities and SBPs deregulating Work patterns, Unions and affiliations Governmental obstructions and torment Commotions of high tax on banking business Economical Restraints in mobilisation of civic investments due to inflation Staff pays and other costs Operating expense is higher due to manual dealing Rising of debts Social Cultural Unsatisfactory HR Ethnical strain to investments Going down educational and employment morals Poor liability Debtor lobby Satisfactory empowerment Technological Poor communication base Inadequate I.T services Insufficient I.T training Lack of information technology tools SWOT ANALYSIS The usage of SWOT analytic thinking lets businesses to make the most of their strengths, reduce their weak points, take benefits of their chances and conquer their disadvantages. It begins by defining the aims of the project or business actions and describes the inner and outer elements that are crucial to achieve those goals. Advantages and disadvantage are generally internal to the company, whereas opportunities and risks are typically external. (The SWOT Analysis: Using Your Strength to Overcome Weaknesses, Using Opportunities to Overcome Threats) Author: Lawrence G. Fine Publisher Booksurge Llc, 2009 SWOT ANALYSIS OF NBP STRENGTHS Oldest Organization National bank of Pakistan on of the matured banks operating in Pakistan and so has large number of customers which is strength of it. People trust and believe in the bank. Being an old organisation its an additional value for the bank. Rotation of Duties If for some reasons state bank of Pakistan is not in operations NBP works as an alternative of SBP. Being a government bank and working as an alternative of SBP is strength of the bank. More Deposits than Competitors NBP has the proportional capability in holding additional deposits as compared to other banks. This is due to the trust that clients have in NBP. Employee Benefits Reasonable financial remuneration is given to the employees on both EID events in form of cash bonuses. This provides an extra help and proficiency for NBP a cause of inspiration for the workers. Wide Network One more strength of NBP is its wide network all over the country. It has most number of branches than any other bank in most productive cities. Due to large network of branches NBP provides best quality service to its customers at their nearest branch. Professional Competence The bank has hired very professional graduates in different fields like banking, business administration, economics, finance etc these are highly skillful professional. Their professionalism enables the bank to realize and achieve the goals of the organisation in a superior way. Healthy Environment The working environment at NBP is extremely conductive and supporting for more sizeable output. The relaxing environment manipulates the performance of the workers in a supporting manner. WEAKNESSES Less Marketing Effort NBP do not support its industry stature its services in an aggressive manner. Therefore it lacks in selling efforts. Now a day every organisation is in need of aggressive marketing A need for aggressive marketing in there in the era marketing in now becoming a part of every organization. Political Pressure The strong political grip of some companies government and its authorities are impacting NBP negatively. The bank sometimes has to issue loan under agencies demands that leads to odd and accommodated feelings in its employees. Discrimination The seniors often influence in the promotion system of the bank by forcing their favoritism and their own willingness and decision. This behavior leads to denomination of the employees which leads to performance degradation and lack of confidence in the employees. A Few Financial Product If we consider the innovation and announcements of new schemes NBP is far behind from its competitors. NBP did not involve itself in the competition of offering customers new products, ideas and services. It is a major weakness of the bank. Bad Service at Busy Time Another weakness of the bank is its poor management in serving the customers in busy hours. It is been often noticed that people are topping out of the doors and windows and they are not happy because they are not been serviced timely and efficiently. Lack of Network Equipments Another weakness of the bank is the lack of computer networks that could have saved the time and energy of its employees. Moreover the I.T staff is not well trained they are old aged and dont have necessary know-how of computers. If proper tainting and network is provided bank can convert this weakness into its strength. Uneven Workload The pressure of work at NBP is more on some workers than others and it is unevenly distributed. Some employees escape from their job responsibilities while others bear work overload. This is not fair and leads to de-motivation among the employees who are working hard. OPPORTUNITIES E- Banking The advancement in communication sector has made this world a global village. Now technology is very important for any business specially banking now a day depends on efficient an effective service which is impossible without technology. National bank of Pakistan can make use of technology to perform better and have a competitive edge over its competitors. Micro Finance In todays word there is a need of finance on micro level NBP can avail this opportunity as its competitors are already arrived in this field. NBP should realize this opportunity as soon as possible in order to provide current demands. THREATS New Competitors The mergers of new banks, especially foreign banks are a threat for NBP. These banks are well prepared with exceptional and innovative technology and heavy finance. They know how to promote their product and how to perform well. NBP should take steps to compete with these foreign banks to tackle this threat. Political Pressure As the government is not stable in Pakistan different political parties are coming in power. They are affecting the banks overall performance by putting pressure for issuance of unfair loans. Politically dominant people are creating a sense of anxiety and discouragement in the customers and its employees. Downsizing The current policy of the bank is to cut the staff which is a threat to its employees as they are feeling insecure about their jobs. This is affecting their overall performance negatively. Customers Complaints The customers are everything for a business but there is no formal service to deal with customers complaints. This behaviour is annoying the customer and they are heading towards other foreign banks. This is a threat for the bank. Conclusions and Recommendations National Bank of Pakistan is one of the oldest and largest banks in Pakistan. This bank is in partnership with Government of Pakistan and has largest assets than any other commercial bank. This bank has a unique part in the economical growth as it works as the agent of State Bank of Pakistan. Following are some recommendations for NBP. National Bank of Pakistan can increase its operational productivity by using latest computer technology. Employees Training programs are not sufficient. Extensive training will surely increase the effectiveness and efficiency of the employees. Privatization can have a positive impact on NBP overall performance. Modern techniques for cost cutting should be adopted by the bank. There is a strong need to change the outlook and interior lay out of the branches.

Situational Analysis Of International Marketing Environment Marketing Essay

Situational Analysis Of International Marketing Environment Marketing Essay There can be many reasons for wanting to be internationalized like saturation in the home market, the desire of export your product and catch new type of customers in new markets, little opportunity to growth in the own countryà ¢Ã¢â€š ¬Ã‚ ¦ HM wanted to get a strong brand and arrive to the best cities and establish their shops. They are looking always for the best cities and places to build their shops in order to get more and more customers all over the world. When they decided to internationalized, their wish was to become in a great famous brand, and finally they got it, because as I said, it is a well-known company situate in 47 different countries which is also planning to build new shops in more different ones. (See appendix2) Target Market HMs primary target market is based on consumer both men and women between 18-34 years old. In order to satisfy the target customer, they produce good design clothes with good quality and all that in very cheap prices, so that, the customers of HM are very satisfied with it because it offers them everything they want. (See appendix 3) Market Selection Criteria (Keegan, W., J. and Schlegelmilch, B., B., 2001) When a company wants to be internationalised in a new country it must answered this question so as to know exactly where to establish their brand: (See appendix 4) Which market is the best? Philippines Portugal As it can be seen in this two graphics, without a shadow of doubt it can be said that the most secure country to enter in is Portugal. First of all, although this graphics not shows the complete reason, it is the main reason for choosing Portugal. As it can be seen, in Philippines the corruption is really high, the government is not as competent as in Portugal, the infrastructure is not as prepare as in Portugal to be able to build storesà ¢Ã¢â€š ¬Ã‚ ¦ Finally, making the positive and negative points of each country, it is clear that Portugal is the best option not only because of these results, but also because the geographic location of the country. (Global Competitiveness Report, 2012-2013) (See appendix 5) Portugal OPPORTUNITIES THREATS POLITICAL Parliamentary representative democratic republic ECONOMIC High income mix economy The financial crisis ECOLOGCAL Many land hectares Ecology conservation Laws TECHNOLOGICAL Pioneer of technology The financial crisis FASHION INDUSTRY Growth in the industry The financial crisis LEGAL REGULATORY Control competition Not allowed aggressive competition (Technology Portugal, 2009) (Economy of Portugal, Wikipedia, 2012) (Politics of Portugal, Wikipedia, 2012) (See appendix 6) Competitors (See appendix 7) Indirect Competitors HM does not have many Indirect Competitors in the sector, however, it is one that is strong and that it is gaining presence in the online shopping: (See appendix 8) HM ASOS Direct Competitors As everywhere nowadays, in Portugal also there are many fashion retailers that are establishing their shops in many cities so as to get more benefits and became much more international. In the case of HM, it would have many competitors, and the main one it would be Inditex. (Retail Index, 2012) (See appendix 9,10,11,12) HM vs. Inditex The major competitor of HM is Inditex, this table shows what main differences are between them: Outsourcing of Core Activities Group Model Competitive advantage Segmentation Communication No own factories 80% is produced in Asia Cheaper Major margins 39,7% of cost upon sales Need to create collection well in advanced Single chain Major margins in the short run Collaborations with Luxury brands, singersà ¢Ã¢â€š ¬Ã‚ ¦ Own industries 40% is produced in Europe Major flexibility Major ability for growth 44,3% of cost upon sales New collection every 2 weeks Different Chains Major dynamism and growth in the long run Collaborations with new designers, actorsà ¢Ã¢â€š ¬Ã‚ ¦ (Moda Rapida, 2012) Customers in Portugal In all countries the customer do not have the same purchasing habits, how are the shopping habits of Portuguese young consumers? Factors that influence in clothing purchasing At the time of purchasing clothes, young consumer In Portugal prefers not to have anybody behind them asking all the time if they need any help, that is, they prefer to go to big stores and have a look for everything and then if they need any help ask to a staff although they think that are really impersonal places. They prefer to be free, they want to be comfort when they are shopping. Shopping Behaviour and the influence of others Portuguese young consumers prefer to go shopping alone for many different reasons: More freedom of movements: They like to go alone as they dont need to be all the time calling to the other person come here, go there and so on. More independence in choice: Young consumers do not like to be influenced by anyone; they like to buy things without any other opinion, if they like it they would buy it without having anybody prejudicing them. Individual decision: As it is individual decision, nobody would be saying anything bad about the clothes. Purchasing choice criteria What customers are looking for at the time of buying clothes? They based their purchase in some factors that finally are the ones that makes someone to take the decision of buying one thing or another. Low Price Comfort Good Design Good Quality Brand Name Does not have any influence in purchasing criteria as nowadays almost all brands are equal. (Information sources and clothing,2012) (See appendix 13) Perceptual Map Low Quality High Price High Quality Low Price INDITEX CORTEFIEL MODALFA CA HM PRIMARK MANGO GAP In order to create the perceptual map, I use my perception about the fashion brands in the world, that is, I collocated each of the company in the position that I perceive. As it can be seen, in the same square we can find HM and Inditex, but for my point of view, although the price of Inditex is more expensive, the quality is much better so that its positioning is greater than HMs one. Apart from this, it can be said that for young people, Cortefiel and Mango are so equal in the quality and in the price, besides this, GAPs and CAs quality is very high, that is, the price and the quality of their clothes are equated. Finally, as for the brands with the lowest quality, although their low price is so attractive for punctual occasions, customers prefer to buy in companies that offer them a major quality. Recommendation I really recommend HM to go to Portugal as it can offer many advantages to HM starting with its geographical location. Although the financial crisis is affecting many consumer, as HM has very low prices Portugal can be a very viable market as young people would be able to get fashion clothes with their low income and as nowadays the physical aspect is gaining importance, HM would find a very good opportunity in Portugal. (About HM, 2012) Appendices Appendix: HM 1980/90 Stores open in Germany and Netherlands. Stores open in France, and the use of celebrities to the advertisements 1947 1977 1976 1974 1968 1964 1952 Sales of cosmetic started. First store opened outside Scandinavia, In London. Listed on the Stockholms Stock Exchange Hennes buy the fish store Mauritz Widforss, and the name is changed to Hennes and Mauritz. First store opened in a foreign country, in Norway. Hennes open in Stockholm First store open in Và ¤steras (Sweedem), with the name of Hennes 2012 Plan to open Bulgaria, Latvia, Malasya, Mexico and Thailand. 2011 HM open in Romania, Croacia and Singapore. 2010 First stores open in Soth korea and Turky. Monki goes to Asia, HM home open in Sweden. 2009 First store open in Russia and in Beijing. HM home is launched, Weekday and Monki open in Germany 2008 First store open in Tokyo. Adquisition of Weekday, Monki and Cheap Monday brands. 2007 First Asian store open in Hong Kong and in Shanghai. Expansion of online sales. COS stores launched. 2006 Major expansion of online and catalogue sales 2004 Initiates designer collaborations with luxury brands 2000 Stores open in US, Spain and in many European countries. HMs presence all over the world HM world map.   Ã‚   300+ stores   Ã‚   200+ stores   Ã‚   100+ stores   Ã‚   50+ stores   Ã‚   20+ stores   Ã‚   10+ stores   Ã‚   1+ stores   Ã‚   Upcoming stores (HHYPERLINK http://en.wikipedia.org/wiki/File:HM_world_map.svgHYPERLINK http://en.wikipedia.org/wiki/File:HM_world_map.svgM world map, Wikipedia, 2012) HM Group HM, as Inditex, is completed by many different brands, that is, HM is a group that is composed by some different brands: HM: It produces a broad and diverse range of fashion for men, women, youth and children, furthermore, it also sales cosmetic, accessories and products for home. COS It offers customers a combination of timelessness and distinctive trends, for both women and men. Monki: It is a very creative brand that offers to the customer the opportunity to express itself. Weekday: It offers urban fashion for men and women always at the best price. Cheap Monday: Cheap Monday combines influences from street fashion and subcultures with a catwalk vibe. HMs expansion strategy HM is so conscious at the time of opening new stores in other countries, that is, it thinks that the stores should make much stronger the brand and attract customer giving them the best shopping experience as possible. When HM is moving to a new country, so as to see if it would be profitable or not to enter in, it analyses the political, economic, demographic, and infrastructural environment. It creates very modern stores in all countries that it establishes its business so as to offer a great shopping time to the customer. Furthermore, it is working in making its stores much more ecological so as to save the world and do not damage it. HM is looking for a great expansion in the future; it is planning to open many new stores in many different countries, so as to create a very strong brand. HM SWOT analyses Strengths Brand recognition: Low Price and style: It has presence in al over the world and people know it because of the fashionable clothes that sale in a very cheap price Operational efficiency: As it has a great control in the logistic area, it is able to have low cost and maintain really good margins. Opportunities Untapped potential in emerging markets: As the lifestyle is changing everywhere, people are much more aware of its physical aspects, so that, the fashion is gaining presence. Internet retailing: The fashion industry is increasing every day, and nowadays with the help of internet they can growth in an incredible manner, it gave them a great opportunity to growth. Weaknesses Reliance on outsourcing: The reliance of Inditex products put HM in critical situation as Inditex appeals much more to customers. Modest presence in emerging markets: It a well-known brand in the whole world, but the major presence is only in Europe and in North America. Threats Non-food expansion of grocery retailers: Many supermarkets like Tesco, are thinking in competing in the clothe industry with HM. Fast fashion becoming more competitive: Its major competitor is Inditex, that also does fast fashion, but new competitors also are appearing very strong (Ryerson, 2009) Vertical Integration HM has a vertical integration strategy in which was pioneer establishing it some years ago. Due to this strategy, the company is now able to collect information about the sales and customers and use it in order to make a better strategy always so as to get more profits for the future and catch much more customer. (Europa.eu,2012) LCCP, GCCP or FCCP? In the case of HM, it can be said that this company is GCCP( Global Culture Cultural Positioning), as they are a multinational that says to the customer that is part of the global family. Although they need to adapt maybe their strategy in each of different country, they sale their brand as a global company; actually all their products are the same in all countries, they offer the same products for the customers of different places, Being the part of the global family is the message that they are selling to the customers mind. (HM, 2012) Appendix: Internationalization Motives There are 2 kinds of motives that prompt the companies to internationalised, Proactive and Reactive motives. In the case of HM there are some points inside those factors that do not have any sense, so only the main points are going to be explained. Proactive Motives Profit and growth goals All companies want to growth, and so as to get it, the best option is to go abroad and establish their brand in new countries. This is one of the main reason why the companies want to internationalized, in order to become bigger and be well known in the whole work. Managerial urge It is a motivation that the managers of the business have; their motivation is to be part of a company that works all over the world. Foreign market opportunities/market information HM could see many opportunities to growth in foreign markets as is a company that have great presence all over the world. However, it is not established in all countries, so if it wants to become a bigger brand, it should observe what opportunities offered each country and see if it is profitable or not. Economies of scale-learning curve Being internationalized, offers HM the advantage of the economies of scale as it could produce high amount of clothes at the same time with very low costs. (Hollensen, S., 2007) Reactive Motives Competitive pressure HM could be scared for example of the competitive pressure of Inditex as it has a great strategy that helps it to continue in the top level. If the company see that other brands are growing all over the world and are gaining customers and getting profits, the not internationalised company also would want to get all that. So for that reason, HM would like to enter in more and more countries so as to be a great company. Domestic market: small and saturated HM was created in Sweden many years ago, but as the market was becoming so small to compete there, it decided to enter in new countries so as to growth its presence. Extend sales of seasonal products As maybe the demand in the home country is not very big and it does not give the opportunity for the company to get the desire profits, they would find new opportunities to get what they want in foreign countries. (Hollensen, S., 2007) Appendix: How to choose the target market? Targeting is the action of evaluating and comparing the different groups of consumers and chooses which is the most suitable for the company. Companies have to base their research in 3 points: Current segment and the growth: It will be enough profitable to the company to centre only in that segment? Competitive intensity and potential competition: If that segment has a great competition, it is suitable to enter in? Compatibility and feasibility: If that segment give problems to the companies, could another company catch them? (Keegan, W.J. and Schlegelmilch, B.B., 2001) When HM creates its brand he had surely been thinking about these points at the time of creating its designs. When the companies are creating their collections they must be thinking on the target market as they are the wanted customers and they should create those clothes appeals to them. Appendix: Market selection Criteria Market Potential Here the company should analyse if the market satisfied completely the customer and also if the customers has the necessary ability to purchase the product that the old retailers offer them. (International market selection, 2004) Market Size: The companies need to observe how much of the market it can expect they could afford. Market growth: They have to observe how much have grown this sector in that country during all the years so as to know if they would find an increase or a decrease in the industry. Competitive Intensity: The Company have to make a great research relating with the competitors of the industry in that country so as to know in what position they are and how strong are the competitors. Entry Barrier: In all countries are entry barriers to foreign companies so as to protect the future of the home country industries. They should make many deals so as to finally get into a new market. Political Environment The government of a country affects a lot the business life because of the changing policies, regulations and laws. Furthermore, the government of each of the country is who choose which businesses will receive protection and which is going to face an open competition. Furthermore, the political stability of a country will affect the action that government will take, and finally that actions will have many influences in an enterprise. (Sirkeci, I. and Cawley, R., 2012) Economic Environment Nowadays the economy has change radically, due to that factor, all countries are now potential targets for every company. When a company has to make research in global marketing, the economy dimension of the world is crucial as it has great influence in this point. (Keegan, W.J., Schelegelmilch, B.B., 2001) Demographic Structure The company should observe how has change the demographic in the objective country so as to control the evolution of the Target customer. Purchasing Power It has to know how is the purchasing power of the objective customer so as to know if they are going to get benefits or loses in that country. Infrastructure The retailers need to observe if the infrastructure of the country is good or not in order to build factories and stores in that country. The country must have strong infrastructure so as to build powerful companies, strong social, economic, aerialà ¢Ã¢â€š ¬Ã‚ ¦infrastructure. Appendix: Philippines and Portugal So as to choose the most appropriate country to enter in, many things must be analysed as it can be seen in the paper. However, not only those shown points are important, there many other things like the GDP, unemployment rate, population, innovationà ¢Ã¢â€š ¬Ã‚ ¦ that should be take into account when an enterprise want to be opened in that country. Philippines Population: 93,6millions GDB per capita: 2,007$ Infraestructure: 3,1 Macroeconomic environment: 5 Goods market efficiency: 4,1 Having a look to these different score between 1-7, it is clear that Portugal is much more secure country to establish their company. Although the most relevant dates had been explained before in the pages, these are also very important at the time of choosing the country to enter in. So finally, Portugal is the country that will be analysed for the report. Labor market efficiency: 3,9 Financial market development: 4 Technological readiness: 4,6 Portugal Population: 10,7 millions GDP per capita: 21,559$ Infraestructure: 5,5 Macroeconomic environment: 4,2 Goods market efficiency: 4,3 Labor market efficiency: 3,8 Financial market development: 4 Technological readiness: 5,3 (The Global Competitiveness report, 2012-2013) Appendix: Portugal Political Environment Portugal has a constitutional republic and a parliamentary system in which a semi presidential regime is established. The prime minister is elected every four years and is the person who led the government, furthermore, the president of the government is elected every five years. (Doing business in Portugal, 2012) Economic Environment There can find many industries that have established their main company in Portugal, for example, in the case of Inditex, it has one factory there, as the production is cheaper than in Spain. But although been a developed and high income country, it has the lowest GDP in Western Europe, and besides, the population has the lowest purchasing power of the European Union. (Economic of Portugal, Wikipedia, 2012) Regulatory Environment The Law 18/2003 In Portugal is create to maintain a competitive economy, not to have an unfair competitive and so heavy one. The law prohibited the company to make agreements that would affect the competition between economic agents in national territory. In addition to this, the companies are not allowed to make a very aggressive competition so as not to affect the sector in that country. (Doing business in Portugal, 2012) Fashion industry Nowadays the textile industry in Portugal represents just under the 10% of outputs. The situation in Portugal is not the best, but the companies that are surviving are having great profits, so people are seen as an optimist market. Many different brands produce their clothes in Portugal like Fred Perry, Inditex, Paul Smith because the process is not as expensive as in other European countries, , however, although the industry is surviving, all the companies has suffered losses during the financial crisis. Every type of industry are suffering now due to the 2008 financial crisis, in many countries many companies closed their factories, nevertheless, the textile industry in Portugal is growing up again ,so slowly, but is growing. Every brand are getting now profits, so for HM it could be a great opportunity as the industry is having good results nowadays. Besides, it must be said that HMs strategy is very similar to Inditex ones, its clothes are so cheap and finally a country that is s uffering a lot because of the crisis , population wants to have the opportunity to buy cheap fashionable clothes. Inditex is having great results in the country, so as HM prices are cheaper, why it would not get many profits? Portugal as I said, can offer HM many great advantages. (UK reuters, 2012) Barriers to enter in country There many barriers in all countries for different companies that want to establish their brand there are (Hollensen, S., 2007): General Market Risks The main barriers are the great competitiveness that HM could find in Portugal, the different culture and language, because the Swedish and Portuguese people are so different at the time of working and also the language is totally different. In addition to this, it is no easy to find a new distributor in a foreign country, they should make alliances an all of that work so as to get a great position, and finally, it must be said that it is a very difficult work to adapt all the company for that new culture and make a great company overseas. Commercial Risks Although Portugal is in Europe too, there are always delays in the delivering of the export products or some damages in them. Beside this, there are always changes in rates and that could have a great influence in the cost of a company. Political Risks This subject is a little bit special; companies have to take caution as politics have great influences in all countries. HM have to take into account how is the law of the exports in Portugal, what type of restrictions have impose the government, the thoughts of the citizensà ¢Ã¢â€š ¬Ã‚ ¦ Opportunities of entering in the Portugal Investing in Portugal it would give companies many advantages for many different reasons (Doing business in Portugal, 2012): Strategic access to market Due to the Portugal economic openness and also because of its strategic geographical position it can offer great opportunities to different companies between EU and also different markets. As it has relations with Brazil and is near Africa, it offers great advantages so as to make exports and imports. Cost competitive, qualified and flexible workforce The Portuguese employers are known for having great attitudes at the time of adapting their self to new technologies, strategies and so on. Excellent environment to live and work It is a country that offers the companies very secure areas and ensure the security for their production, and so on as it is very pacific place. Infrastructure As during the last year Portugal has made great investment so as to modernizing its communication infrastructures, it is great country to establish a company as it can be adapted very easily to the new technologies that the company will bring with it. Appendix: Competitors Threats of New entrance Rivalry among existing competitors Threat of Substitute products or services Bargaining power of buyers Bargaining power of suppliers (Keegan, W.J. and Schlegelmilch, B.B., 2001) Market 5 forces Referring to HM, although it is a great company, its major competitor is doing everything much better than it does. HM it would be the new entrance in that country and of course all those competitors like Inditex, Cortefiel and so on, would be threat of it as they would need to fight with one more company. However, knowing that new entrance, those companies may start making much more deals with the suppliers so as to have the ability to offer better products and service to their customers and not lose them. Finally, HM has a great positive factor to the consumers that could be a great advantage to its competitors. It makes many alliances with famous designers like Versace, Moschinoà ¢Ã¢â€š ¬Ã‚ ¦ in order to create new collection that are attractive to young consumers as they feel with higher status. Inditex should be worry about that as luxury brands are so attractive to consumers, but if it continuous doing a hard work it will be as everywhere the winner of the sector also in Portu gal. Appendix: ASOS ASOS is an online beauty store that provides the customer many products of different brands in very cheap prices. That is, the consumer can buy in the same website clothes from many different brands like Adidas, Armani, Topshopà ¢Ã¢â€š ¬Ã‚ ¦ it sales hundreds of brands, thats why it became so attractive to the customer, because it can find in the same place clothes from everywhere. ASOS was created firstly in United Kingdom in 2000, but them while it was gaining presence in whole Britain; it started going abroad and gaining presence in many countries of Europe. After that, the market of US was prepared to ASOS arrival as everyone wants to have the opportunity to buy many brands product in the same place. (ASOS, 2012) Appendix: MOFALDA Modalfa is a Portuguese fashion brand that offer the customer very fashionable clothes in a cheap prices. In Portugal, as I explained before, it is a great competitor for HM as it offers the customer similar opportunities as HM does. (Modalfa, 2012) Appendix: CORTEFIEL Cortefiel is the first brand created by Cortefiel group in 1946, which offer the customer an elegant and comfortable style with very high quality. With this personal style, Spanish brand has open its road for many countries and it is very strong competitor for many other companies. Its target customer is based on men and women between 35-45 years, and although HM is addressed to young people, finally all type of consumers are important for every company. (Cortefiel, 2012) Appendix: CA CA is a fashion company that has presence in 20 different countries of Europe. People have a very good perception about CA, it offers 10000 different products in all the countries, and although its high prices, the products have very high quality, the clothes lasts for years so people do not mind to pay more for those clothes. (CA, 2012) Appendix: Inditex The Inditex group is the most powerful competitor of HM. Inditex has many different brands inside, that are very famous and makes it the more and more strong everyday: ZARA: Zara has presence in 85 countries and it has opened 1671 stores in the best places of the cities. For Zara there is no any limit, they want to be in all the countries of the world in the future, and due to its great strategy it can get it as it is opening new stores every day. Pull Bear: It was create in 1991 especially for young people as it has very juvenile style. Is it one of the most profitable brand in terms of Urban clothes as every young people go there to get urban style clothes. Massimo Dutti: It has 567 stores spread in 53 different countries. It offers Urban and casual styles both for men and women, its target market is based on men and women adults, thats why the growth of the prices and the change in the style comparing with other brands. Bershka: It was launched in 1998 and nowadays it has 839 stores in 63 different countries, and as it is known, it appeals basically to the young target market. Stradivarius: It produces clothes, accessories, shoesà ¢Ã¢â€š ¬Ã‚ ¦ and its clothes are combination of elegant and hippie clothes that appeal a lot for young people. Oysho: Oysho sells the latest fashion trends in womens lingerie and intimate apparel Zara Home: It is specialised in home decoration and linen things that attract so much to women because of it reasonable prices. Uterqà ¼e: It is the newest brand of Inditex and it is the most expensive brand of the group. (Inditex group, 2012) Zara is the most powerful brand of the group, is the main competitor of HM alone as I said. In the above image appear where Zara has its stores. (Zara targetmap, 2012) Appendix: Customers The culture in which the consumers have been grew up have many influences in the p

Invisible Man Essay: Identity and Invisibility -- Invisible Man Essays

Identity and Invisibility in Invisible Man      Ã‚  Ã‚   It is not necessary to be a racist to impose 'invisibility" upon another person. Ignoring someone or acting as if we had not seen him or her, because they make us feel uncomfortable, is the same as pretending that he or she does not exist. "Invisibility" is what the main character of Ralph Ellison's Invisible Man called it when others would not recognize or acknowledge him as a person.    The narrator describes his invisibility by saying, "I am invisible ... simply because people refuse to see me." Throughout the Prologue, the narrator likens his invisibility to such things as "the bodiless heads you see sometimes in circus sideshows." He later explains that he is "neither dead nor in a state of suspended animation," but rather is "in a state of hibernation." (Ellison 6) This invisibility is something that the narrator has come to accept and even embrace, saying that he "did not become alive until [he] discovered [his] invisibility." (Ellison 7) However, as we read on in the story, it is apparent that the invisibility that the narrator experiences, goes much further than just white people unwilling to acknowledge him for who he is.    While searching for his true identity, the narrator frequently encounters different people who each see him differently. "Who the hell am I?" is the question that sticks with him as he realizes that nobody, not even he, understands who he really is. At some points in his life, identities are given to him, even as he is still trying to find himself. While in the Brotherhood, he was given a "new identity" which was "written on a slip of paper." (Ellison 309) He was told to "starting thinking of [himself] by that name ... so that eve... ... Cliffs, N.J.: Prentice-Hall, Inc., 1971.   45-63. Ellison, Ralph.   Invisible Man.   New York: The Modern Library, 1994. Holland, Laurence B.   "Ellison in Black and White: Confession, Violence and Rhetoric in 'Invisible Man'."   Black Fiction: New Studies in the Afro-American Novel since 1945.   Ed. A. Robert Lee.   London: Vision Press, 1980.   54-73. Klein, Marcus.   "Ralph Ellison."   After Alienation: American Novels in Mid-Century.   Cleveland: World Pub., 1964.   71-146. Langman, F.H.   "Reconsidering Invisible Man."   The Critical Review.   18 (1976) 114-27. Lieber, Todd M.   "Ralph Ellison and the Metaphor of Invisibility in Black Literary Tradition."   American Quarterly.   Mar. 1972: 86-100. Major, Clarence.   American Poetry Review.   Nov/Dec. (1973) 17. Morris, Wright. "The World Below."   The New York Times Book Review 13 Apr.1952: 5.   

The Success of the Simpsons Essay examples -- essays papers

The Success of the Simpsons The Improbable Long-Term Success of The Simpsons When examining the history of modern prime-time television, there is a certain pattern that virtually every successful show inevitably falls into. After a period of initial success, perhaps lasting three or four years, the writing on the show becomes stale by using the same format and same jokes over and over. The viewing audience becomes bored, and eventually, the show fades into television oblivion. Or, as Jeff MacGregor states in The New York Times, â€Å"Historically†¦(successful shows) collapse under the weight of their own complacency, hanging on for a few lifeless seasons while the producers wait to cash out their millions and move to Maui.† Based on this premise, it would seem that â€Å"The Simpsons,† an animated series that debuted in 1987 as thirty second segments on â€Å"The Tracey Ullman Show,† should have worn out its welcome long ago. However, â€Å"The Simpsons† is still going strong today. The secret to the show’s success lies in its producers’ ability to understand the expectations of the television audience and the culture that surrounds them. This understanding, combined with â€Å"wry sarcasm, topical themes, and superb scripting that puts most other comedies to shame,† as well as some old-fashioned slapstick comedy, makes â€Å"The Simpsons† one of the most popular programs in television history. The show is often complex and highly intellectual, while remaining funny at the most basic levels. As Jim Gleeson states in The College Tribune, â€Å"The show is rare in rewarding attention to detail, with especially obscure references that†¦ even if you had never heard of†¦you would still laugh, giddy with the crafted sleight of it all.† This fact that the show works on several levels at once draws a generationally diverse fan base. The adults are attracted by the surprisingly sophisticated dialogue, while the children enjoy the clumsy antics of Homer and the traditionally â€Å"cartoonish† aspects of the program. An example of a multidimensional scene occurs in the episode where Marge, the mother of the Simpson family, starts a crusade against campaign violence. Maggie, the baby, is mesmerized by an â€Å"Itchy and Scratchy† cartoon show in which the mouse pummels the cat over the head with a sledgehammer. Later in the episode, Maggie imitates the actions of the mouse by hitting her fathe... ... theory suggests that the success of â€Å"The Simpsons† is a consequence of television history, and could not have taken place if the show had originated twenty years earlier. The medium of television needed time to build up complexity and diversity, so that the show could virtually redefine what is expected of a television program. Based on this theory, â€Å"The Simpsons’† effect on television is similar to the Beatles’ effect on music. The theory predicts that the show will continue on until, just like the Beatles, they have nothing left to do. At its current pace, â€Å"The Simpsons† seems like it could go on forever. The show is continually progressing and perhaps funnier than ever. The writers are further developing the characters with each passing episode, and the show’s possibilities, for the time being, seem limitless. It is difficult to explain exactly what the allure of the show is, but at the core its most appealing characteristic is that it is simply funny. From the simple pleasure of watching Homer fall flat on his face to the most obscure reference imaginable, â€Å"The Simpsons† continues to entertain over a decade after its conception and shows no signs of slowing down.

Mba Exam Papers in Operation and Production Management

i will give you full payment of 90 dollar if my below questions answers received from your side with chart and table where its required to fulfill my required. SUB: OPERATION MANAGEMENT 1. How would operations strategy for a service industry be different if any from that for a manufacturing industry? (It’s an example & explains) 2. Consider the following two mutually exclusive projects. The net cash flows are given below: NET CASH FLOWS years PROJECT A FROM PROJECT B 0 – Rs. 1,00,000 – Rs. 1,00,000/- 1 + Rs. 30,000 + Rs. 15,000/- 2 + Rs. 35,000 + Rs. 7,500/- 3 + Rs. 40,000 + Rs. 20,000/- 4 + Rs. 45,000 + Rs. 22,500/- 5 + Rs. 25,000/- 6 + Rs. 27,500/- 7 + Rs. 30,000/- 8 + Rs. 32,500/- If the desired rate of return is 10% which project should be chosen? 3. What are the levels of aggregation in forecasting for a manufacturing organization? How should this hierarchy of forecasts be linked and used? AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL 4. How would fore casting be useful for operations in a BPO (Business processes outsourcing) unit? What factors may be important for this industry?Discuss. 5. A good work study should be followed by good supervision for getting good results. Explain with an example. 6. What is job evaluation? Can it be alternatively used as job ranking? How does one ensure that job evaluation evaluates the job and not the man? Explain with examples? 7. What is the impact of technology on jobs? What are the similarities between job enlargement & job rotation? Discuss the importance of training in the content of job redesign? Explain with examples? 8. What is internet connectivity? Feature article about  Production ManagementHow is it important in to days business would with respect to materials requirement planning & purchasing? Explain with examples? 9. Would a project management organization be different from an organization for regular manufacturing in what ways? Examples. 10. How project evaluation different from project appraisal? Explain with examples. SUBJECT: Production Management 1. What are the different types of production/operation system? Where would each one of them be applicable? Give practical examples. 2. What is flexibility in operations function?Can it be one of the strategic weapons? Explain your response. 3. What is the distinction between accounting profit & economic profit? How is such a distinction linked with the concept of opportunity cost? 4. What is the difference between the Scanlon & rucker plans? 5. Productivity improvement is not a one shot project Do you agree with this statement? Discuss 6. Is supply chain management a philo sophy? Discuss 7. What is the aim of production planning? 8. What is forecasting? Elements of forecasting & Methods of forecasting?

Explain how the transfer of capital can be influenced by world trading organisations and financial institutions? Essay

The transfer of capital is influenced by three main organisations and financial institutions; these are the World Trade organisation (WTO), the International Monetary Fund (IMF) and the World Bank. The organisations don’t literally deal with companies and countries money, but instead guide and work together to make trade easier and also to encourage developing countries to trade in order to develop further. The WTO has been set up with around 150 countries, with over 30 planning on joining in the near future. They are set up to encourage trade between countries, but also to ensure the trade is fair and legitimate. The WTO works by particular people representing each country to discuss any trade problems and to ensure everybody is treated equally. One of the largest problems the WTO has had to deal with is the â€Å"banana wars†, where countries in the Caribbean and Latin America have been allowed free trade since 1975, with no excess fee to Europe as they were part of their colony. Although the WTO is far more focused on a global aspect of trade, paying focus to both developed and developing countries, the IMF is far more focused on developing countries, especially those that are in need of financial support or aid. One of the most recent cases the IMF aided was the Haiti earthquake in January 2010, they cleared the $268 million worth of debt as well as giving financial aid over the next few years in order to help build up the economy and their infrastructure. The IMF does however rely on other perhaps more developed countries to donate to this fund, and then they are responsible for making the decision on whether or not to offer financial support to a country. Unlike the IMF the world Bank is perhaps more focused on a long term plan in supporting developing and poorer countries, one of their main focuses is sustainability, providing education, resources and opportunities for countries to improve their economy. A good example of this is the Morocco solar plant project, where a solar plant has been built and shall grow over the years to come, it can already power up to 1million homes over a year and with extension may be able transfer some of this energy to European countries as we are further away from the Equator, which encourages morocco to trade over a longer period. In conclusion, there has to be a good setup for trade as trade has become one of the most important factors involved in a development of a country and often, countries can be treated unfairly. It’s important for everybody in the world to have equal opportunities and for the better developed countries to help developing countries as quite often this is to their benefit.