Smart Globalization

Smart Globalization SMART GLOBALIZATION This article is very informative on the subject of Internationalization. The article begins with a brief description of a common commercial airing on TV about Whirlpools new washing machine. The add is targeted towards Indians in India who "prize hygiene and purity"‚Â ¦" Whirlpool Corp. is a U.S. based company, but that doesn't mean they can't find new and emerging markets abroad. Before they made the decision to internationalize their product, they had to research and analyze their potential market. By doing this they learned what the consumers in that particular nation/region/society needed.What amazes me is that Whirlpool arranged an integrated network of smaller less efficient factories and companies to distribute/market before deciding to go ahead and start building factories. Going abroad means taking risks. Why not take smart risks.English: Emerging Markets without China and IndiaThe article then goes on about ATT and why their ventures abroad fizzled. They basically fizzled because the old approach of internationalizing was too simple and not in depth enough for today's emerging markets. Companies have changed their outlook on this new concept of Smart Globalization. "Companies are trying to figure out how to build on their strengths as opposed to throwing "‚Â ¦Hail Marry passes in the hope they connect".Products in a new market have to be adapted sometimes. A good example of this is how HP has involved itself in the development of technology in poor nations such as Africa. Before HP could start selling it's product they basically had to integrate the technology that could be available into small villages and communities. They did this by setting up small centers where people could learn more about what was going on in today's hi-tech information age and get a hands on experience. By introducing the technology to these people who never seen a computer before...

Japanese expansionary fiscal policy

Japanese expansionary fiscal policy Introduction Since the fall of the Soviet Union, capitalism has been the most dominant form of economy in the world. With the exception of China and Cuba, few socialist economies survive in the world today. Japan, along with the United States, has some of the oldest capitalist economies in the world.Advertising We will write a custom essay sample on Japanese expansionary fiscal policy specifically for you for only $16.05 $11/page Learn More One of the most significant features of the market economy is the cycles that characterize it. Perhaps, the most severe of these cycles is depression which last occurred in 1933. However, recession is devastating as well, and it disrupts many economic processes including credit flow. Both the US and Japan have gone through these cycles and offer a good studying point on the same. While China dethroned Japan as the world’s second largest economy, Japan still presents a model case for world economists in studying its economic cycles. This discussion will focus on the â€Å"scrap and build† strategy that Japan employed early on its economic development especially in industrial development. Additionally, the discussion will take a look at the balance sheet recession that some scholars argue Japan has undergone since the bubble bust in 1989. Scrap and Build Strategy There has been an argument by Burkett and Hart-Landsberg that, since the end of the occupation in 1952, Japan, under the guidance of the Ministry of International Trade and Industry (MITI), practiced a strategy of ‘scrap and build,† which eventually ran out of steam by the end of the 1980’s. Scrap and build strategy mainly focused on the postwar accumulation of assets and industrial restructuring in Japan with the primary aim of restoring the Japanese economy, mainly through exports (Rob 5). Before the oil crisis in 1973, Japan had run down light industries which in the prewar period ensured the country genera ted a surplus for a number of years. The government used this surplus to offer subsidies to heavy industries whose growth will later fuel Japanese capitalism. â€Å"Scrap and build†essentially derived its meaning from the Japanese government policy which emphasized on building heavy industry for chemicals and basic materials for processing imported raw materials while exporting iron, steel, ships and petroleum products (Rob 6). On the other hand, the policy advocated for the scraping of coal mining and agriculture as well as textiles. According to Rob, it is important to note that the scrap and build process involved many socio-political processes that eventually led to its decline (9). Rob adds that the scrap and build process demanded high-level political organization and a social structure that could accommodate the dislocations that the process brought (9).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Most observers essentially agree that the scrap and build process was somehow a causality of the cold war and the resultant socio-political consequences that had a negative ripple effect on the entire system. Rob precisely says that the breakdown of the scrap and build process was as a result of the socialist elements in the Japanese system who prioritized development of the welfare state at the expense of market efficiency (10). An objective audit of the entire process will reveal however, a gradual loss of control of the working class by the bourgeois which in effect reduced the effectiveness of labor relations resulting in the decline of the process. Bailey on the other hand argues that the decline of the scrap and build process was as a result of years of cumulative dynamic capitalism ways that were beyond the control of Japan’s economic managers (192). It is not easy to tell if the scrap and build process in Japan would have survived b eyond the 1980’s. However, loss of steam was more or less likely because of economic cycles that ensured that the process peaked at the time. Nonetheless, it is safe to conclude that despite its loss of steam in the 80’s, the process was strong enough to power Japan to greater economic prosperity in the long run. Japan’s balance sheet recession The world economic crisis in 2008 reverberated across the world perhaps because many countries anchor their economies with that of the United States. Currently, the US economy is recovering but, another important economic zone, the Eurozone is undergoing one of its worst economic crises. These situations are comparable to the Japan balance sheet recession and the deleveraging cycles that Japan’s private sector had to go through twenty years ago due to the asset bubble in equities and real estate. According to Weinstein, both the government and the private sector of Japan responded to the crisis by adopting an expan sionist approach to fiscal policy (45). The private sector stated paying big debts, improving by atleast 6% of the gross domestic product. Household savings stood at 4% per year on the backdrop of 0% interest rates (Weinstein 50). The government of Japan’s expansionary fiscal policy was however the most significant. The government borrowed heavily and spent approximately $100 to maintain the economy’s expenditure at $1000 (Weinstein 50). Though the balance sheet recession led to a massive loss of wealth, Japan was able to avoid loss of GDP by rates lower than the pre-crisis levels. The expansionary policy by government helped maintain incomes in the private sector as well as in the households in such a way that economic entities were able to pay back debt.Advertising We will write a custom essay sample on Japanese expansionary fiscal policy specifically for you for only $16.05 $11/page Learn More Objective analysis of the situation will conclu de that the Japanese government’s fiscal expansion policies helped stem crowding out, rise in inflation and interest rates especially on the face of a deleveraging private sector. Further, most economists agree that the expansionist fiscal policy that the government undertook helped in shelving the fall of money supply in the Japanese economy mainly because government borrowing from the private sector mitigated severe contraction of Japanese bank assets. Concisely, the expansionary fiscal policy that the Japanese government took was helpful in ensuring that the GDP as well as money supply did not contract on the face of considerable deleveraging by the private sector players. Conclusion In a balance sheet recession situation, the economy tends to be in a free fall. However, the actions by the Japanese government helped stem a complete collapse of the economy through a fiscal expansion policy. It is correct to assert that if the Japanese government lacked action i.e. expansion ary fiscal policy, economic agents in the Japanese economy would have shifted massively from borrowing to savings effectively strangling credit flow. The result will be private sector deleveraging which could only be offset by increased government borrowing. One of the widely accepted notions in the market economy is the role of investor psychology. The perception of economic agents on the health of the economy is important in making decisions. Hence, the perception that the government is taking remedial measures concerning the economy is always crucial in sorting out an economic mess such as the Japanese balance sheet recession. Bailey, David. Crisis Or Recovery in Japan: State and Industrial Economy, New York: Sage Publications, 2007. Print. Steven, Rob. Japans new imperialism, New York: Routledge, 1990. Print.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Weinstein, David. Japans Bubble, Deflation, and Long-Term Stagnation, Cambridge: Cambridge University Press, 2011. Print.

Common Law Case and Civil Case Essay Example | Topics and Well Written Essays - 2000 words

Common Law Case and Civil Case - Essay Example â€Å"Company directors and senior employees to whom the board of directors has delegated managerial duties have a fiduciary relationship with the company. All directors and any person occupying the position of director by whatever name called or persons who purport to act as such are still regarded as directors, whether or not they are designated or otherwise described as a company director, are required to act in good faith in the interests of the company, to act for proper purposes and to avoid conflicts of interest and duties and also not to delegate powers except with proper authorisation. They also have the duty of care and still 6†. To some extent, the case of Green vs.Bestobell Industries Ltd can be said to that one of lifting the corporate veil. The company’s operation and its corporate entity were not considered simply cause of the acts of directors who acted arbitrarily. The principle of the separate entity was not aptly taken into consideration in order to safeguard the interests of the company. A director who acts even though for the the interest of the company but then without the powers bestowed upon him, the principle of separate entity need to be invoked for the sole purpose of protecting the corporate. The difference between Gilford Motor Co.Ltd vs. Horne and Shangai Kiangdong Equipment Ltd vs. Xu In Gilford Motor Company the director signed an agreement with the company Gilford Motor that while employment and after employment that he shall not solicit the customers of the company. But upon exit from the company, the former director went as far dishonoring in agreement with the company. The court ruled he was bound by the agreement. Even though the doctrine of separate legal entity was not properly followed because an individual and the company are different people as long as Mr. Horne was operating for the interest of the company, there was an apparent need for the honorable court to lift the corporate veil and observe behind the veil in order to have the directors answerable for the acts done allegedly on behalf of the company.

Gap, Inc. Retailing Analysis Essay Example | Topics and Well Written Essays - 1000 words

Gap, Inc. Retailing Analysis - Essay Example Gap’s trouble in 2001 At the time of Millard Drexter, there were 200 underperforming stores of Gap Incorporated that continuously operate. This specifically decreases the level of profit generation considering that the entire operation of the company continues in a regular manner while generation of revenue came into a downward spiral. Unfortunately, financially speaking Gap Incorporated could not eventually continue to operate in this condition. This is an issue of lack of management perspective and outlook. The company lacks appropriate evaluation system in order to identify its weakest and strongest areas. Unfortunately, this continues to operate and in 2001, the financial performance of Gap Incorporated received substantially small net margin for income. Compared this with the performance of other retailing companies, Gap is far behind and the whole opportunity is lost for the good of its competitors. There is another important view that Gap Incorporated under the manageme nt of Drexter was overlooked. There was lack of market research that could determine customers’ preferences and needs. This eventually is the reason why Gap Incorporated misjudged fashion trends in 2000. It tried to create trendy apparel for young adults but it was not creating greater impact in the market. Customers were ending up choosing other fashion options due to some important reasons including their own style. For instance, it is important to know that American consumers spend less on clothing due to the fact that fashion does nowadays does not only include clothes but other accessories and technological gadgets. For instance, iPods and iPhones are considered part of the fashion trends among American consumers. Normally, niche markets for growth opportunities are the most significant view in apparel retailing industry. However, the market is continuously expanding and there are added segments that need to be clearly understood further. In the United States, size fitti ngs among Americans change over 60 years. In line with this, more data are necessary to be gathered in order to find out the best fittings for Americans. Apparel industry is also competing with vacation, housing and automobile industries. These industries at some point minimize the level of revenue intended for Apparel industry. Thus, with the consumer and market research, Gap Incorporated for instance will be able to identify the right move in order to stimulate needs for its product offerings at the right timing. There is also another important marketing trend that needs to be understood by Gap Incorporated. This is in line with the declining significance of department stores in the US apparel industry. This is how important marketing research is. It tries to help retailers understand consumer behavior and the entire market in general. Understanding consumer behavior means knowing exactly what they prefer over the other offerings available for them. Gap’s spectacular turnar ound in 2003 Gap was able to remarkably have itself applauded for its honesty with respect to improving the working conditions for the manufacturer of its garments in factories. This created a certain level of trust that promotes more than just a promising output. This remarkably opened up the possibility of increasing customer relationship and to ensure trust and loyalty in the end. Not only that, Paul S.

Carbon Market Essay Example | Topics and Well Written Essays - 750 words

Carbon Market - Essay Example The "EU Emissions Trading Scheme" turned into a failure, because the energy consumption went down and with it the demand to obtain permits. On the other hand industries attempted to increase their turnover selling the unused permits to other companies. What is more, the green energy projects have spotted producing the desires effect. The author is asking what would be an adequate price for the carbon emissions. NASA climate scientist observes that for him proposing the right cost will determinate if we as humans can cope with the irreversible climate changes that we have caused. The author comments that there are numerous ways to put a value on carbon. One of them is to calculate what will be the cost per tonne to diminish the emissions. Another approach is "the social cost of carbon". This method estimates the damage price to the atmosphere for a lifetime. The World Bank conducted experiments with this method as well as Dutch government and UK treasury. However, they all variable are taken into consideration the estimation tremendously vary from 35 GBP to 140 GBP per tonne. Another technique is the "shadow price of carbon". This one estimates factors like willingness to pay for the reduction of carbon emissions. All those approaches have their advantages and disadvantages. Unfortunately, all of them share a common shortcoming which the author calls "the paradox of environmental economics". In fact what is done is that people put price on the catastrophic and harmful carbon dioxide. They put price on killing the environment. This is the market solution failure to the environmental issue. Governments have to spend and invest more money on renewable energy and this should be done as an economic stimulus. For example the UK has spent more than 20% of its gross domestic product to enhance the financial sector and only 0,0083% on green projects. Price mechanism to control the carbon emissions is imperfect and unworkable solution. The author is asking the rhetorical questions, if we could find a doable one. He hasn't find it as yet, but he is open to suggestions and commentaries. In this article the author tries to show that "carbon trading" is the biggest trading commodity. Unfortunately, carbon trading does not offer a feasible solution with the problem of global warming. I agree with the author in that the governments should invest more in renewable resources, than collecting money from heavy industries which produce the damaging emissions. However, there is no proper solution for this environmental issue. Non-governmental and non-profit organizations have appealed for a long time that immediate actions must be taken for reducing the carbon dioxide into the atmosphere. Government should receive financial incentives to apply the green agenda. Trading emissions in fact made some companies acquire monetary benefits out of polluting the air less. What happens is that companies which have successfully met the emission target and have surplus of carbon units might want to sell those to companies that fall short. So instead of following the proper way of obtaining the permit and pay extra, companies swap carbon certificates with no additional price involved. An action welcomed by most of the countries was the commencement of Kyoto protocol. With this the world was divided into two - who countries that make the effort and change the existing infrastructure to pollute less

Psychology assignment Essay Example for Free

Psychology assignment Essay Conformity involves a change in behaviour or opinion in order to fit in with a group. This may be family or peers (a membership group) or it may be pop and sports stars (a reference group). This group can be either a majority or a minority group. (S-cool Student Site)  Two processes have been identified in causing people to conform (Deutsch and Gerard (1955)), these are normative influence which often comes from peer pressure such as fear of rejection and wanting approval and informational influence which is the fear of looking unintelligent and believing others know better especially with something unfamiliar or difficult. There have been many studies done by psychologists into why people conform two examples of which are Zimbardo et al (1973) and Moscovici et al (1969) which are described as follows:  Zimbardos aim in his Stamford prison experiment was to examine conformity to social roles and expectations in other words to see the effect of making good, normal people into prisoners and prison guards.  The procedure for the experiment was that twenty-four middle class male students who were mentally sound in tests and without any criminal convictions were paid fifteen dollars a day and divided into prisoners or guards by the flip of a coin. The prisoners were arrested at their homes, blindfolded and taken to the psychology Department of Stanford University that had been converted into a realistic prison. From there the prison regime was established, the three guards were given khaki uniforms dark glasses and wooden batons, the prisoners were issued uniforms and put into cells. They were informed that no physical aggression was permitted. The participants were then left to their roles of either prison guard or prisoner. The findings of the study were that the prison guards became more and more verbally and physically aggressive. The prisoners rebelled against the guards after only one day and fire extinguishers were used to control the prisoners. The prisoners became depersonalised and suffered emotional depression, one prisoner had to be released after only one day and two more on the fourth day. The study was abandoned after only six days instead of the planned fourteen. Zimbardo believes that the study demonstrated the powerful effect roles could have on peoples behaviour. The participants were playing the role that they thought was expected of them in particular the stereotyped view of how prison guards behave. In other words they were conforming to an unofficial script. The prison environment played an important part in how the guards behaved as none had shown sadistic tendencies before the study. The study has been criticized because of the lack of informed consent the participants had and the humiliation and distress experienced by the prisoners. Zimbardo was also criticised for acting the role of prison superintendent. In Zimbardos defence he only found out himself late on that he had the backing of the police to do the arrest and there was no time to tell the participants. He also couldnt really tell them what was going to happen without it becoming unrealistic. The study was stopped early and the participants had no lasting effects from the study, after extensive debriefing and follow-ups years later. Infact they revealed they had learned an important lesson in that we can all be overwhelmed by social influences. Zimbardo himself now acknowledges that he shouldnt of acted the role of superintendent but still believes that there should still be an independent monitor in this sort of research so that not only are the participants protected valuable information can also be acquired.

Defining Mills Harm Principle Philosophy Essay

Defining Mills Harm Principle Philosophy Essay The only purpose for which power can be rightfully exercised over any member of a civilized community, against his will, is to prevent harm to others. John Stuart Mill. The above sentence has been the one significant principle as asserted by Mill in his famous On Liberty, commonly called the harm principle. Harm, in his context, means only direct harm, by means of actions and inaction, onto others. Harm that one done to others by harming himself does not count unless one has failed to fulfil some specific and concrete obligation that ought to be done initially. Interference should not be placed on someone as long as the things done do not harm others. Legal penalties and sanctions can only be justified if they are imposed to prevent harm to others. Mill mentioned that the time where the society or the individual as a whole can impose influences on particular individual liberty is when it is for self-protection. If a person is placing himself in a position that is dangerous solely to him, society has no right to interfere. He believes that every individual is autonomous, nothing can be compelled upon him/her, for his/her own benefit/welfare, as long as the thing done does not impose threats to others even though it is harming himself. This is what Mill meant from Over himself, over his own body and mind, the individual is sovereign  [1]  . However, this does not apply to children and some backward states of society, who are not capable to take care of themselves and to make sensible decisions, such as the undeveloped races. Furthermore, Mill thought that human liberty should encompass first, the inward domain of conscience, and liberty of thought and feeling. Second, the liberty of tastes and pursuits in planning ones own life and lastly, the liberty of individuals in uniting with other consenting collective groups for any purposes which do not harm others. He believed that a good society can only exist through the granting of all the liberties to the people in pursuing their own good lives in their own good ways.  [2]   In Mills works, they were inevitably much influenced by his thought on utilitarianism  [3]  . Obviously, in which he regarded utility as the ultimate appeal on all ethical questionsin the largest sense, grounded on the permanent interests of man  [4]  Utility, or the Greatest Happiness Principle, would be the permanent interests of mankind. This can be seen much clearer where he held that actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness.  [5]   What did the legal theorists think? In an influential defence of the harm principle, Raz has challenged on the precept on how the state should promote the well-being of people and in the pursuit of moral ideas, how far, the state in coercing the society should be determined by the harm principle. He suggested that it is a perfectionist ideal which presupposes specific moral conceptions which are not indifferent towards criteria of moral worth or moral virtue  [6]  . Also, as we have seen, Mill ruled out the compulsion and control of the state to prevent harmless wrongdoing although that could be what the state think is in the best interest of the society in obtaining pleasures and happiness. By acting as a guiding principle in terms of political restraint, this will not lead Raz to non-perfectionist position  [7]  . Raz supported Mills harm principle not by his utilitarian path, but by the autonomy principle. He claimed that the autonomy principle is an important ingredient for the state to pursue a moral good and to promote a good life for the citizens in such societies. Autonomous life is valuable only if it is spent in the pursuit of acceptable and valuable projects and relationships.  [8]   Ultimately, Razs central claim is to defend the harm principle through the principle of autonomy for one simple reason: The means used, coercive interference, violates the autonomy of its victim because it violates the condition of independence and expresses a relation of domination and an attitude of disrespect for the coerced individual and, coercion by criminal penalties is a global and indiscriminate invasion of autonomy.  [9]  To complete a personal autonomy, condition of independence  [10]  must be present, too. Slavery, moral censorship, sale of contraceptives  [11]  , etc could be the more common examples. Dan-Cohen has also come out with a similar structure of Razs arguments on the harm principle but a rather more different and inconsistent conclusion, in which he focused more on criminal law. He suggested that the harm principle should be replaced by the dignity principle  [12]  because dignity demands that our actions, practices, and institutions convey an attitude of respect to people.  [13]  He has made a hypothetical example of happy slavery in contradicting with Razs argument on the independence is part and parcel of autonomy but his point is, a dignity principle altogether independent of autonomy.  [14]