Constitutional and Administrative Law B v United Kingdom

Questions: 1. Peruse the instance of B v United Kingdom (2006) 42 EHRR 11 and answer the accompanying inquiries. a. Regarding chose cases, quickly clarify the degree of insurances under Article 12 ECHR b. Sum up what the case B v United Kingdom (2006) 42 EHRR 11 is about c. Clarify the important law being tested for the situation and the British governments contentions against the intrigue. d. How does the court arrive at its choices? Do you concur with an official conclusion? Answers: 1(a): The ECHR under Article 12 maintains option to wed as a Human Right. It expresses that everybody has the privilege to wed (Grigolo 2003). In B and L v UK (Familylaw.co.uk 2005), the ECHR watched, the Act of 1949 and the Marriage (Prohibited Degrees of Relationship) Act 1986 disregards the Article 12. As indicated by the Act it suspends a dad in-law and little girl in-law to wed if eithers previous companions are alive. This was a human right infringement, as death of previous mates is possibility are as kids outlast guardians. 1(b): Case Synopsis: Valerie Mary Hill and Alan Monk, the solicitors looked for the ECHR as they felt their privilege according to Article 12 was being damaged by the current laws in UK. The laws suspended them from wedding as they were little girl in-law and father-in-law and their companions were alive. The ECHR held that the laws in power abused their entitlement to wed and found a family and arbitrated for the candidates according to rules under segment 4 of the HR Act, 1998 (Legislation.gov.uk 2016). 1(c): The primary concern of contention depended on existing Marriage Act, 1949 and Marriage (Prohibited Degrees of Relationship) Act 1986 (Sections 1(5)(b) and 1(5)(c)). The Government contended that the gatherings were precluded according to the First and Second Column of Part III, First Schedule. They were against it because of good reasons and social effect of such go about as both of their previous mates were alive. 1(d): The Court found that the laws being referred to were infringing upon Article 12 of the show and it applied Article 41 in mediation. The judgment is pleasing as grounds against the candidates marriage was not supported (Brems and Gerards 2014), as the law itself was not adequate in limitation. In this way we may finish up saying that the arbitration was advocated. References: Brems, E. also, Gerards, J., (2014).Shaping Rights in the ECHR. Cambridge University Press. Familylaw.co.uk, (2005).HUMAN RIGHTS/RIGHT TO MARRY: B and L v UK (Application no 36536/02). [online] Available at: https://www.familylaw.co.uk/news_and_comment/b-and-l-v-uk-application-no-36536-02#.VpC6MLZ97IU [Accessed 9 Jan. 2016]. Grigolo, M., 2003. Sexualities and the ECHR: Introducing the all inclusive sexual lawful subject.European Journal of International Law,14(5), pp.1023-1044. Legislation.gov.uk, (2016).Human Rights Act 1998. [online] Available at: https://www.legislation.gov.uk/ukpga/1998/42/segment/4 [Accessed 9 Jan. 2016].

Auditing Case Study Example | Topics and Well Written Essays - 1500 words

Evaluating - Case Study Example Because of hesitance of tone of Societe Generale, the organization needed to confront lost nearly $7.2 billion out of 2008. It is in this setting Societe Generale gave higher fixation on the front office exercises and there was less thought towards back office exhibitions. As an outcome, there was lopsidedness between the control of front office and back office capacities (Beasley, M. S. and Et. Al., â€Å"How a Low Risk Trading Caused a $7.2 billion Loss†). Because of this explanation, Societe Generale was bumbling to create intense investigations fundamental for controlling the jobs and obligations of representatives. From the contextual investigation, it tends to be seen that like different associations, Societe Generale had likewise gotten very decided about finding its reasonable value. In this way, it didn't give a lot of consideration towards the dealers and its duties regarding dealing with the dangers, while it rendered high criticalness for budgetary associations so as to look after productivity (Wartzman, â€Å"Executives Are Wrong to Devalue Values†). As per Canadian Auditing Standard (CAS), ‘Tone at the Top’ traces the standards of a specialty unit and administration’s commitment to inclination and convictions (Hartley, â€Å"Tips for Cost-Effective CAS Application†). Tone at the top is important for better budgetary control in any association. By making a decision about the tone at the highest point of Societe Generale it tends to be described that it had certain lacunas of interior control which can be arranged as the purpose behind tremendous misfortune looked by the organization. For any association, the top level organization must be clear with respect to the guidelines of business in light of the fact that various associations have distinctive hazard wants. In Societe Generale the administration couldn't make a difference the principles of business all through the inner working society. There is requir ement for better interior administration which can examine the exercises everything being equal with the goal that any sort of criminal operations can be recognized and forestalled as needs be (Beasley, M. S. and Et. Al., â€Å"How a Low Risk Trading Caused a $7.2 billion Loss†). Question 3 CAS portrays that abuses in the fiscal reports climb from either fake exercises or unintentional errors (OAS, â€Å"Canadian Auditing Standards†). Fake action includes three perspectives which are weights or impetuses, opportunity and legitimization. Weight or motivator is the perspective which impacts or will in general offer motivations to a person to lead misrepresentation. Concerning Jerome Kerviel (one of the merchants of Societe Generale), as a dealer, the acquiring of Kerviel was very low in correlation with other top level brokers. He even didn't view himself as a dealer because of his low profit. In this way, his motivation for directing false action was to improve his noto riety inside the organization and subsequently increment the reward sum (Beasley, M. S. and Et. Al., â€Å"How a Low Risk Trading Caused a $7.2 billion Loss†). Henceforth, he was obliged for increasing more cash by attempted fiscal dangers. Defense is the other perspective in dominant part of extortion cases. It includes accommodating the conduct of the individual asserted for submitting deceitful exercises. After divulgence of the deceitful action of Kerviel, his defense was to ensure that his bosses knew in regards to his exercises. Kerviel had verbalized that his bosses

Introducing How to Write a KILLER Linkedin Profile - 4th Edition!

Introducing How to Write a KILLER Linkedin Profile - 4th Edition! As you may have noticed, LinkedIn has undergone a quite a few changes in the past few months. The look of the profile has changed; endorsements have become all the rage, and Skills Expertise has overtaken the Specialties section as a place to search for people with certain capabilities. The status update section has moved, the Events application is on its way out, and the guidelines for a “100% complete” profile have shifted. I’m happy to announce that after many revisions and a lot of help from my Virtual Assistant Jeanne Goodman and publisher Brian Schwartz, the 4th edition of How to Write a KILLER LinkedIn Profile is completely updated to reflect these recent changes. It also contains special coupon codes for e-book readers, new tips on how to create a modern, punchy look with graphics, and new bonus tips for both companies and job seekers. In the spirit of this holiday season, I am VERY thankful to Jeanne and Brian for making this edition possible, and full of gratitude to have this puppy out the door: Get the pdf 4th Edition of How to Write a KILLER LinkedIn Profile! Remember, if you purchase the PDF version of the e-book, you also receive FREE lifetime updates. Get the Kindle version 4th Edition of How to Write a KILLER LinkedIn Profile! The 4thedition of your e-book is great! So much better than editions 12!” Patrick Gallagher, Author of LinkedIn Secrets Revealed If you already own a copy of my e-book and would like to express *your* thanks for how it has helped you create a KILLER profile, please take a moment to provide your feedback! Posting a review on Amazon is a powerful way to tell the world what you thought of the information received, what value it had for you and how it changed your profile. And while youre there, you can check out what others are saying! Post a review here! As a special incentive, if you email us with a link to your Amazon review, your name will be entered in a monthly drawing to win Mary Elizabeth Bradfords Job Search Success System (winner of a 2011 CDI Career Innovator Award and a $97 value!). Check it out here. I also have a Facebook page dedicated solely to How to Write a KILLER LinkedIn Profile and LinkedIn appreciators around the world. If you found a way to improve your online presence with any of the tips from my e-book, please drop by and my KILLER LinkedIn Facebook page. Thank you!

Civil Rights During The 20th Century - 989 Words

Today, we stand at a precipice threatening a definitive split between Blacks and Jews, and Jews of Color and Jews. The recent platform of Black Lives Matters denounces Israel as an apartheid state. A respect for the history of Black political thought demands we not forget Israel and Jews (of all races) remain a vulnerable minority. Jews and Black Americans are most often linked together during the 20th century Civil Rights movement. These communities were victims of institutionalized discrimination and social shunning. Jim Crow signage proclaimed: â€Å"No Jews, No Dogs, No Negroes.† At the height of the Civil Rights era, Jews and Blacks marched together and were martyred during the Freedom Rides for voter registrations. The 19th and 20th centuries were filled with social and political change from the outlawing of slavery, the Labor Movements advancement of workers’ rights, and WWI and WWII toppling of empires and raising up new nations. Unfortunately, Blacks and Jews continued as subjects of racism and anti-Semitism, with increasing violence. Black enfranchisement was met with government sanctioned White Supremacist aggression (such as the Klu Klux Klan). Similarly, the Holocaust highlights Jewish vulnerability. Esteemed historian and Pan-Africanist WEB Dubois exclaimed, â€Å"Every child knows that ancient Jewish civilization and religion centered in Palestine... When it comes therefore to an issue of original possession and ownership, there is no final answer for anyShow MoreRelatedThe Civil Rights Movement During The 20th Century1422 Words   |  6 Pagesthe 20th century, African- Americans fought for the right to vote and went into great strengths to receive the equal power as a w hite American. The Civil Rights Movement was the starting point for many African-Americans to gain there full rights in the United States. The Civil Rights movement was the challenge to segregation that caused laws that separated blacks and whites. With this movement not only was the goal achieved to end racial segregation in the United States, but the Voting Rights of 1965Read MoreCivil Rights Cases During The 20th Century3051 Words   |  13 PagesSocial Problem Olmstead vs. L.C., which is the case that led to the Olmstead Decision, is considered to be one of the most important civil rights cases during the 20th century (Zubritsky, Mullahy, Allen, Alfano, 2006). The Olmstead Decision was put into place after two women with a diagnosis of mental illness and developmental disability were voluntarily placed in a psychiatric facility and remained institutionalized for years. Even after efforts made by the women’s staff members to move themRead MoreHuman Progress in the Twentieth Century Despite Two World Wars953 Words   |  4 Pages The world in the 20th century went through the destruction of World War I and World War II and the hazard of a nuclear war in the course of the Cold War and coped to revolutionize themselves with essential developments within their societies. The world, as a whole, has advanced more than it has suffered during the turbulent 20th century because of the advancements of innovations and human right, despite the demolition of the two World Wars. The 20th century inflicted the greatest suffering to theRead MoreThe Jim Crow Laws And School Segregation810 Words   |  4 Pageseverywhere in the 20th century, and the population most affected by this were African Americans. Two of the most critical injustices committed in America during the 20th century were the development of the Jim Crow laws and school segregation. However, these injustices have been rectified as a result of the Civil Rights Movement and the decision of the supreme court of Brown v. Board of Education which brought important changes to African Americans. African Americans were deprived of many rights that theyRead MoreShanice Johnson Week 3 Civil Liberties Essay1135 Words   |  5 PagesMaterial Civil Liberties and Rights Timeline and Synopsis Instructions Complete the following timeline with entries that demonstrate the development of civil liberties and rights over time. In part two, write a brief essay of at least 350 words which discusses specific social movements and how they relate to the development of civil liberties and rights. Part One: Civil Liberties and Rights Timeline Complete the second column with brief descriptions of key decisions on civil liberties. IncludeRead MoreThe Movements of the 20th Century Culture Essay1170 Words   |  5 Pagesthe most important events that occurred in the 20th century? A century that was full of many innovations; most importantly, these events made a tremendous impact in our lives as of today. The 20th century contributed an abundance of improvements to our culture. In addition, the progressions of the advancement helped society lives to better, such as the industrialization, the remarkable inventions that made our lives easier. Nevertheless, the 20th century presented a copious amount of remarkable artistsRead MoreFrom Segragation to Racism1280 Words   |  6 PagesFrom Segregation to Racism During the 20th century there was segregation and racism in the United States. Many people believe these times are over but there is still an extreme amount of racism going on in the country today. During the 1900’s, leaders of all races (Black, Hispanics and whites) were fighting for equality. The majority of the black population was fighting for civil rights,better education, anti-lynching laws and equal opportunities. Jim crow laws, The KKK, and the horribleRead MoreU.s. Constitution, Discrimination865 Words   |  4 Pagesmonumental event in the history of the United States is the ratification and signing of the United States Constitution.This took place in the year 1787 .The Bill of Rights is actually the part of the constitution that defines the rights of the citizens of the United States.This significant document helped spell out individual rights and freedoms.Although the signing of the U.S. Constitution solved many problems it failed to solve the problem of discr imination against African Americans,women and gaysRead MoreThe Impact Of The Civil Rights Movement1018 Words   |  5 Pagesof civil rights was a major one throughout the post-Civil War Reconstruction period and remained so throughout the period leading up to the Korean War in the 1960s. The civil rights struggle was caused largely by southern states’ treatment of African Americans. Slavery was a rampant practice in the pre-Civil War south, and even those African Americans who managed to obtain their freedom were not treated as equals to other citizens in the southern states. Free black men did not have the right to voteRead MoreThe Ideas Of Discrimination During The 20th Century1164 Words   |  5 PagesIdeas of Discrimination A controversial topic since the 20th century, discrimination was and continues to be a concept of heated discussion all over the world. In the past one hundred years, we have continued to make an effort to defeat discrimination, but a closer look shows that, even with all the effort put against it, discrimination still runs rampant all around the world. Since the United Nations adopted the Universal Declaration of Human Rights in 1948, the entire world has made large advancements

How Social Media Affects Relationships - Free Essay Example

Sample details Pages: 2 Words: 682 Downloads: 3 Date added: 2019/04/10 Category Society Essay Level High school Tags: Social Media Essay Did you like this example? Social media is a new way to express thoughts to one another and connect amongst many groups, it has positive and negative aspects to daily lives. One of the positives is being able to branch out ideas and discover many people who may have common interests around the world, however; social media takes a toll on how others connect on a personal level and face to face interaction. Social media could potentially lead to issues with peoples relationships such as couples, parents, friends, and so many others. Don’t waste time! Our writers will create an original "How Social Media Affects Relationships" essay for you Create order These issues affect the bonds we have with one another. Social media negatively affects relationships by decreased social skills, trust issues, and lack of privacy. Most peoples first instinct when they wake up in the morning is to check their phone and see who has liked a picture, posted on their story, or perhaps if someone had retweeted a tweet. Think about all the time spent on electronics and how much time is taken away from their friends and family. A major key in a relationship is to connect on a deeper level and have that personal time with one another and create a bond that they share with no one else. Instead of having a conversation while eating most people tend to watch a video on YouTube or scroll on their Instagram feed. The constant need for social media takes away from peoples social skills and being able to show emotion to one another. Another example, when most people fight in a relationship they prefer to do it over text and to try and avoid the conflict. Ultimately social media has decreased many social skills. Social media can be used to connect with people around the world, old friends, or keep an update on their previous ex, this can cause tension in a relationship which in turn can develop trust issues. Most people have things they are insecure about and social media may cause these insecurities to come up more. People get upset over who their partner snapchatted, whose pictures theyve liked on Instagram, or who they might have messaged on Facebook. Even though these encounters may have been innocent, it may cause their partner to feel threatened and worried that they might find someone else. Insecurities caused by social media may cause arguments, dividing the couple and creating trust issues due to their self-doubt or a previous issue that may have happened in the past that they fixate over. Recently Lil Xan and Noah Cyrus were officially dating, until Lil Xan announced over his Instagram story stating she cheated on him. The two continuously went back and forth exposing each other over social media, which is what a lot of people tend to do. When people expose each other over social media there is a lack of privacy that they have in a relationship. People may post statuses about their partner, make an indirect tweet, or post about their partner on their stories. Lack of privacy leads friends, family, or strangers into their personal lives and usually causes a lot of conflict. When there is no privacy, people will start to comment and have opinions on others relationships and on their lives. An example is when someone makes a relationship public online and they tend to post pictures and change their statuses, many people may keep an update on their relationship and cause problems by always putting their opinions out there. Even though it is good for people to know that so meone is in a relationship, its best to give others a small taste in a sense of their life instead of every detail. Social Media correlates to a lot of positive and negative effects on everyday lives. Social media can be used to keep up with friends and family, but it also can take away from relationships that people have with their family and friends. It takes away from those relationships by decreased social skills, loss of trust, and lack of privacy. Society changes often, and it is up to the people to adapt and learn of the new ways of life.

A Reflection Free Essays

The best training ground for every deserving student is in fact, the University of Arizona. Its education is the food market of the human mind. It fuels the student’s professional growth and thrusts him towards definite directions in his day to day activity. We will write a custom essay sample on A Reflection or any similar topic only for you Order Now Furthermore, this university is his watering holes from which he quenches his thirsts and draws his strength as he travels treks through his arduous journey towards excellence and fulfillment. Over the years, this institute has able to mold its graduates into becoming professionals with superb brilliance, genuine dignity and outstanding values. From that day I stepped into this mammoth training ground, I was convinced this University would mean more than life to me. Its warm people, specialized programs and well-prepared curricula are the best tools to guide and shape a freshman like me. My first semester in the University of Arizona is a time of transition, in which I experienced inner transformation as well as realization of my worth as a young adult. I have realized, that with adulthood, comes responsibility. Responsibility is synonymous with obligation, dedication and perseverance. I have the obligation to make the best of my time and effort while studying, not only for the enrichment of myself but also for the benefit of those who have been backing me up in prayers and in thoughts. Aside from these, I have realized that I am accountable to my actions and the little decisions that I make each day, to keep myself whole until that day I got that priceless sheet of paper to pursue my dreams and give back to my family and my country their rewards of life and love, as much as my parents have consented and gave their full trust and support to me, even though being in this university means to be miles and miles away from home. This university has taught me to be committed to every particular task I have, especially in my academics. These things could be as simple as doing my homework diligently or to bigger things like spending wisely every single penny my parents have worked for. Furthermore, this university has taught me to dedicate myself towards living up into its vision and mission and constantly strive to gain excellence not just mentally, but holistically. Back from my humble and simple city in California, I used to misunderstand the independence I have. I relied solely with my parents and left all the household responsibilities to them. I hardly even washed the dishes, nor fixed my room! I did not even bother to clean the house or even my own mess.   I was used to having all things readily set and made available for me. I was reluctant with my studies and my dreams in life were vague. In fact, I enjoyed the company of friends and loved to stay outside shopping and partying, thinking these things would make me happy. But, I was wrong! Not that I have not yet matured that time, but I should say, I refused to grow. Aside from responsibility, I have learned to possess the virtue of balance; where there is freedom, there should always be balance. In my quite life here, I have learned to live life on my own, prepare my food, wash my clothes, clean my room, do my homework and be at peace with everyone. I have to cope with the busy schedules in school and meet the deadlines and make sure that I have read my lessons in advance. Unlike before, I realized that am not getting any younger and that, in this busy world, one should always be in moderation, no matter how many the predicaments are. Speaking of predicaments, my grandmother’s death was one of the most challenging experiences I have during my first semester here. I have been very close to her and being favored by her so much.   I never actually felt very far from home since she was always there beside me to cheer me up and inspire me. But with her death, I felt effortless with school. I was afraid to live alone and assume my responsibilities as a grown-up individual. So I had to go home most of the time.   But through constant effort and vivid plans in life, I have managed to make good in my first training at the University of Arizona. My grandmother’s death served as a challenge for me to believe in myself as much as she trusted me and believed in my potentials. In the real life, everything passes by and that all we need to do is to learn wholeheartedly from every particular experience and take that experience objectively for the betterment of ourselves. I love this university, its people and the promises it holds for each student. Although, I am experiencing a difficult time to adjust to my classmates since all of us come from different states, and the harsh hot weather this State has, I still find this very challenging and exciting. Being in a big city like Tucson is no joke for a young student but I am willing to explore the opportunities this school provides, if these were to open chances of improvement. I love the excitements here, all the fun and the activities set for students. I love the way this institution has become a tool to shape me into a better a person. I know it has only been a semester, but I could see how challenging the coming semesters would be. With the right training and education I have right now, I can see a brighter future not just for my self, for my family and also for my country. America has lots of intellectuals already!   This time, and in the years to come, what it needs are people who do not just have the minds but the heart as well! America needs citizens who are open to the growing changes in the society, taking into consideration the welfare of everybody. America needs people who, despite the diversities there are, remain to be a united and strong citizenry. The country’s effort of producing value-centered graduates demands no less! I am confident that the University of Arizona will make me and the rest of us here to be one of those people America has been longing for! How to cite A Reflection, Essay examples

A Guide To Written Responses Macroeconomics

Question: Discuss about the Short Written Responses Macroeconomics. Answer: Introduction: Real GDP is one of the measures of economic performance of a country. Particularly, it is an economic indicator that specifies the value of all output that are produced within a particular year by a country. Although it is widely accepted, this measure is an unreliable indicator of the standards of living in a country. First, GDP overestimates the standards of living. It is assumed that higher GDP indicates higher standards of living (Buck 2008). However, higher economic growth may occur due to increased economic activities that may result in increased pollution, congestion in the cities and towns, and working more hours (Williams 2013). In turn, this conditions may lead to fatigue, poor health, and poor environmental conditions. Thus, real GDP is an unreliable indicator of living standards. Additionally, it ignores the black market as economic activities in this market are not included in its computation. Some nations have a significant degree of economic activities that are excluded because they do not take place in the formal market system, yet many individuals and families depend on them, thereby facilitating decent standards of living (Buck 2008). Notably, living standards are not solely about the consumption of services and goods. Typically, the key factors in living standards may entail the degree of democracy, freedom, and liberty of individuals, yet the real GDP indicator does not include this in its computation. Furthermore, leisure, which is a major contributor to the quality of life is excluded in the computation of real GDP (Pettinger 2008). Unemployment is a condition in the economy where individuals who are able and willing to work are unable to find a job at the prevailing economic conditions. There are various forms of unemployment, among them cyclical, structural, frictional, and seasonal unemployment. Today, there are various reasons why the various types of unemployment occur. Cyclical unemployment often results when workers lose their jobs as a result of economic downturns in the aggregate demand of a country (Amadeo 2016). During recessions, businesses contract their operations and are forced to lay off some of their workers. Consequently, this causes unemployment. Correspondingly, structural unemployment arises due to the mismatch of skills and expertise in the economy. Often, the mismatch is caused by factors such as geographical immobilities, occupational immobilities, technological change, or structural changes in the economy. On the other hand, Frictional unemployment arises during the time which individuals move from one job to another (Krulick, n.d.). Although some of the unemployment types can be reduced through government efforts, some unemployment are unavoidable due to the existence of cost of hiring people Costs to hiring outside the voluntary relationship between workers and employers result in unemployment and are thus unavoidable. Factors such as minimum wages, corporate taxes, licensure laws and regulatory reforms increase the cost of hiring (Prince 2010). Predominantly, if it costs the company more to hire an individual than the job is worth, then the job fails to exist. Subsequently, this creates barriers to job creation, making certain forms of unemployment unavoidable. As a whole, the statement purporting that a rise in the price level within an economy leads to inflation is agreeable. Primarily, inflation is described as the persistent rise in the general price level in a particular economy (Harvey 2011). It is noteworthy that the continuous upsurge in the prices within an economy amounts to a significant fall in the purchasing power of money in that economy. The condition results from an array of internal and external factors within and outside the economy. Various schools of thought subscribe to the belief that inflation results from either a substantial increase in money supply or a reduction in the supply of goods within a given economy. Significant increases in the supply of money that are not accompanied by a proportionate increase in the supply of good and services creates excessive demand for output. The excessive aggregate demand creates pressure, thereby causing the prices for goods and services to rise. In turn, this leads to a demand-pull inflation. In addition, inflation may arise when the prices of key factor input increase. Due to rise in input prices, producers may be forced to transfer the costs to consumers in terms of higher prices for their products or reduce the supply of their output. When the supply of goods declines due to cost pressure, shortages may arise leading to an increase in prices (McMahon 2008). Consequently, this leads to cost push inflation. Therefore, the intensification of prices in an economy leads to an upswing in inflation. The aggregate demand curve is a graphical depiction of the quantity of services and goods demanded by the economy at various price levels (Arthur Sheffrin 2003). Typically, the vertical axis is plotted with the prices while the horizontal axis is plotted with the real output for that year. The AD curve is downward sloping. There are various explanations that explain this occurrence. The first reason pertains to the Pigous wealth effect. As such, the nominal value is constant whereas the real value of money depends on the prices. Thus, for any given level of money supply, a lower price means a higher purchasing power. Therefore, when the price level declines, individuals are wealthier and transact more (Arthur Sheffrin 2003). Hence, a decrease in prices of product encourages private expenditures, hence enhancing the AD. The Keynes interest rate effect can also explain the slope of the AD curve (Friedrich 1989). As prices increase, individuals need more money for their transactions, yet the supply of money is constant (Friedrich 1989). Thus, excess demand for money causes interest rates to increase. As interest rates rise, spending declines, and GDP also reduces. The net exports effect can also explain the negative slope. As price level rises, demand for imports increases while demand for exports drops. Subsequently, the net exports level drops. Given that net exports is a component of GDP, a decline in net exports leads to a decline in real GDP (Friedrich 1989). The long-run aggregate supply curve is a graphical illustration of the connection between output and price level in the long run. It covers the supply side of the total market. Characteristically, the LRAS is vertical and reflects the autonomous relationship between prices and aggregate real production (Pettinger 2011). By and large, the LRAS curve is vertical because it is assumed that the economy is operating optimally and only factors such as capital, labor and technology can affect the supply curve. By itself, the LAS is only affected by those factors that affect the overall potential output (Pettinger 2011). Thus, the LRAS is static because it shifts slowest at this point and changed in aggregate demand only cause a temporary change in the countrys total output. For this reason, there is only one potential output quantity that is supplied in the economy regardless of the prevailing prices. In contrast, the short-run aggregate supply curve is has a positive slope. Mainly, this is attributed to the fact that firms increase the price level as demand for their services and product increases (Pettinger 2011). When the price level increases, firms also increase the quantity supplied of the product. Thus, in the short run, there is a positive connection between the prices and the amount of good and services supplied in a particular economy (Pettinger 2011). In turn, the positive relationship between the prices and the level of output explains why the aggregate supply curve slopes upwards. Reference List Amadeo, K. (2016). 7 Main Causes of Unemployment [Online] The Balance. Available at: https://www.thebalance.com/causes-of-unemployment-7-main-reasons-3305596 [Accessed 1 Jan. 2017]. Arthur, OS, and Sheffrin, SM, 2003, Economics: Principles in Action, Pearson Prentice Hall, New Jersey. Buck, J. (2008). Limitations of Using GDP as a Measure of Quality of Life [Online] Economic Perspective. Available at: https://econperspectives.blogspot.co.ke/2008/08/limitations-of-using-gdp-as-measure-of.html [Accessed 1 Jan. 2017]. Friedrich, H, 1989, The Collected Works of F.A Hayek, University of Chicago Press. Harvey, J. (2011). What Actually Causes Inflation (and who gains from it) [Online] Forbes. Available at: https://www.forbes.com/sites/johntharvey/2011/05/30/what-actually-causes-inflation/#64678b2a4ad2 [Accessed 1 Jan. 2017]. Kruglick, A. (2010). What causes unemployment? [Online] Debt.org. Available at: https://www.debt.org/jobs/unemployment/united-states/ [Accessed 1 Jan. 2017]. McMahon, T. (2008). What Causes Inflation? [Online] Inflation Data. Available at: https://inflationdata.com/articles/2008/07/16/inflation-cause-and-effect/ [Accessed 1 Jan. 2017]. Pettinger, T. (2008). Difficulties in Measuring Living Standards [Online] Economics Help. Available at: https://www.economicshelp.org/blog/251/development/difficulties-in-measuring-living-standards/ [Accessed 1 Jan. 2017]. Pettinger, T. (2011). Difference between SRAS and LRAS [Online] Economics Help. Available at: https://www.economicshelp.org/blog/2860/uncategorized/difference-between-sras-and-lras/ [Accessed 1 Jan. 2017]. Prince, K. (2010). What causes unemployment? [Online] Renew America. Available at: https://www.renewamerica.com/columns/price/101013 [Accessed 1 Jan. 2017]. Williams, R. (2008). Why the GDP Is Not A Good Measure of A Nation's Well-Being [Online] Psychology Today. Available at: https://www.psychologytoday.com/blog/wired-success/201309/why-the-gdp-is-not-good-measure-nations-well-being [Accessed 1 Jan. 2017].

Big Foot Essays - Fiction, American Folklore, Cryptozoology

Big Foot Big Foot, Yeti and Sasquatch Introduction Big Foot, Yeti and Sasquatch are all mythical giant apes, not know to be real or fake. The giant animal stands seven to nine feet tall and weighs between 600 and 900 pounds. The United States Big Foot ranges all over throughout the Northwestern part of the US The Yeti is a giant ape thought to dwell the areas around the Himalayas, at a town called Katmandu by Mount Everest. And finally the Sasquatch is the giant ape thought to roam throughout Canada. These three creatures are all basically the same mythical creature for the exceptance of being in separate areas of the Earth.. There is little known information on these animals, but there have been many sighting. Through that scientist are frequently getting information on Big Foot and sighting, daily. This increases there knowledge of this hidden phenomenon. Scientific Evidence on Big foot Footprints are one of the few pieces or hard scientific evidence, that tells scientist that there must be a Big foot out there says Scientist Roger Patterson. Footprints are really the only hard evidence of Big foot because photographs can be staged, faked, or hoaxed. A real footprint would match all the other reports of big foot prints. Since most of the Big foot imprints are usually the same size they cannot be just simply staged. That is why there are many cryptozoologic scientists that believe that big foot is definitely not false. In a effort to prove that big foot is in fact real, many experts continue to try to find hard, solid, scientific evidence to prove the theory of the big foot legend. Sightings of Big foot, Sasquatch, and Yeti Although there have been many, many big foot sightings, most of them are not actually real at all, but there are the exceptional few that are said to be true. People have been reporting Big foot sighting in the US and Canada since 1884. Big foot got it's name bigfoot from a road crew working in Northwest California in 1958. Nighttime work at the work site attracted a big visitor, which the road crew nicknamed Bigfoot They threw gasoline tanks all around the site to try to keep the giant ape away and it did in fact leave. When the workers looked throughout the perimeter, they found giant manlike footprints all over. This Big foot incident became national news. Sasquatch is actually a Big foot creature that lives throughout Canada. It has been seen primarily around the Western coast of Canada, but there have been a few Sasquatch sightings in the central area of Canada. Many native Americans in that area have seen this giant animal Sasquatch as a god in there culture and society. They have been worshipping this mythical ape for hundreds of years. Many sighting have been reported in Canada and the search for Sasquatch continues, in the science world. Sightings of Yeti have been very abundant throughout Nepal and the Himalayas. The first believable report of Yeti, was in 1925 when a Greek photographer, N.A. Tombazi, was pointed out a creature moving around at some lower slopes of the mountains. The strange animal was around a thousand feet away in an area with an altitude of 15,00 feet. The strange animal looked much like aa human, because it walked upright and it occasionally stopped to pick some wild mountain berries. Tombazi knew that it was in fact an ape because it showed up dark against the snow in the area. That meant that it had to be an ape of some sort. When he told the townspeople of Katmandu they told him that that was the giant ape Yeti. It is also a sort of worship, to the people of Katmandu. Probability of Big Foot Existence Many scientist's say that there is a very small chance of Big Foot existence. The reasons for that decision it the fact that man, keeps moving into uninhabited parts of the country. Because of that many experts feel that even if there was a Big Foot, somebody would have caught it on film, or actually taken a Big Foot photograph that wasn't a hoax. 98 percent of all Big Foot pictures or films, are proven to

Uncle Toms Cabin Quotes

Uncle Toms Cabin Quotes Uncle Toms Cabin, by Harriet Beecher Stowe, is as famous as it is controversial. The book helped to flare up feelings for the slaves in the South, but some of the stereotypes have not been appreciated by some readers in more recent years. Whatever your opinion about Stowes romantic novel, the work is a class in American literature. Here are a few quotes from the book. Quotations Yes Eliza, its all misery, misery, misery! My life is bitter as wormwood; the very life is burning out of me. Im a poor, miserable, forlorn drudge; I shall only drag you down with me, thats all. Whats the use of our trying to do anything, trying to know anything, trying to be anything? Whats the use of living? I wish I was dead!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 2This is Gods curse on slavery!a bitter, bitter, most accursed thing!a curse to the master and a curse to the slave! I was a fool to think I could make anything good out of such a deadly evil.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 5If I must be sold, or all the people on the place, and everything go to rack, why, let me be sold. I spose I can bar it as well as any on em.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 5The huge green fragment of ice on which she alighted pitched and creaked as her weight came on it, but she staid there not a moment. With wild cries and desperate energy she leaped to another and still another cake;stumblingleapingslippingspringing upwards again! Her shoes are goneher stocking cut from her feetwhile blood marked every step; but she saw nothing, felt nothing, till dimly, as in a dream, she saw the Ohio side, and a man helping her up the bank.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 7 You ought to be ashamed, John! Poor, homeless, houseless creatures! Its a shameful, wicked, abominable law, and Ill break it, for one, the first time I get a chance; and I hope I shall have a chance, I do! Things have got to a pretty pass, if a woman cant give a warm supper and a bed to poor, starving creatures, just because they are slaves, and have been abused and oppressed all their lives, poor things!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 9I have lost two, one after another,left em buried there when I came away; and I had only this one left. I never slept a night without him; he was all I had. He was my comfort and pride, day and night; and, maam, they were going to take him away from me,to sell him,sell him down south, maam, to go all alone,a baby that had never been away from his mother in his life!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 9Her form was the perfection of childish beauty, without its usual chubbiness and squareness of outline. There was about it an undulating and aerial grace, such as one might dream of for some mythic and allegorical being. Her face was remarkable less for its perfect beauty of feature than for a singular and dreamy earnestness of expression, which made the ideal start when they looked at her, and by which the dullest and most literal were impressed, without exactly knowing why.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 14 We dont own your laws; we dont own your country; we stand here as free, under Gods sky, as you are; and, by the great God that made us, well fight for our liberty till we die.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 17I looks like gwine to heaven, ant thar where white folks is gwine? Spose theyd have me thar? Id rather go to torment, and get away from Masr and Missis. I had so.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 18When I have been travel ling up and down on our boats, or about on my collecting tours, and reflected that every brutal, disgusting, mean, low-lived fellow I met, was allowed by our laws to become absolute despot of as many men, women and children, as he could cheat, steal, or gamble money enough to buy,when I have seen such men in actual ownership of helpless children, of young girls and women,I have been ready to curse my country, to curse the human race!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 19One thing is certain,that there is a mustering among the masses, the world over; and there is a dis irae coming on, sooner or later. The same thing is working in Europe, in England, and in this country. My mother used to tell me of a millennium that was coming, when Christ should reign, and all men should be free and happy. And she taught me, when I was a boy, to pray, Thy kingdom come. Sometimes I think all this sighing, and groaning, and stirring among the dry bones foretells what she used to tell me was coming. But who may abide the day of His appearing?- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 19 Im going there, to the spirits bright, Tom; Im going, before long.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 22There, you impudent dog! Now will you learn not to answer back when I speak to you? Take the horse back, and clean him properly. Ill teach you your place!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 23Its jest no use tryin to keep Miss Eva here. Shes got the Lords mark on her forehead.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 24O, thats what troubles me, papa. You want me to live so happy, and never have any pain,never suffer anything,not even hear a sad story, when other poor creatures have nothing but pain and sorrow, all their lives;it seems selfish. I ought to know such things, I ought to feel about them! Such things always sunk into my heart; they went down deep; Ive thought and thought about them. Papa, isnt there any way to have all slaves made free?- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 24I told you, Cousin, that youd find out that these creatures cant be brought up without severity. If I had my way, now, Id send that child out, and have her thoroughly whipped; Id have her whipped till she couldnt stand!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 25 No; she cant bar me, cause Im a nigger!shed s soon have a toad touch her! There cant nobody love niggers, and niggers cant do nothin! I dont care.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 25O, Topsy, poor child, I love you! I love you, because you havent had any father, or mother, or friends;because youve been a poor, abused child! I love you, and I want you to be good. I am very unwell, Topsy, and I think I shant live a great while; and it really grieves me, to have you be so naughty. I wish you would try to be good, for my sake;its only a little while I shall be with you.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 25Topsy, you poor child, dont give up! I can love you, though I am not like that dear little child. I hope Ive learnt something of the love of Christ from her. I can love you; I do, and Ill try to help you to grow up a good Christian girl.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 27Delicacy! A fine word for such as she! Ill teach her, with all her airs, that shes no better than the raggedest black wench that walks the streets! Shell take no more airs with me!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 29 Now, Im principled against emancipating, in any case. Keep a negro under the care of a master, and he does well enough, and is respectable; but set them free, and they get lazy, and wont work, and take to drinking, and go all down to be mean, worthless fellows. Ive seen it tried, hundreds of times. Its no favor to set them free.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 29Im your church now!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 31Here, you rascal, you make believe to be so pious,didnt you never hear, out of your Bible, Servants, obey yer masters? Ant I yer master? Didnt I pay down twelve hundred dollars, cash, for all there is inside yer old cussed black shell? Ant yer mine, now, body and soul?- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 33Poor critturs! What made em cruel?and, if I give out, I shall get used to t, and grow, little by little, just like em! No, no, Missis! Ive lost everything,wife and children, and home, and a kind Masr,and he would have set me free, if hed only lived a week longer; Ive lost everything in this world, and its clean gone, forever,and now I cant lose Heaven, too; no, I cant get to be wicked, besides all!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 34 When I was a girl, I thought I was religious; I used to love God and prayer. Now, Im a lost soul, pursued by devils that torment me day and night; they keep pushing me on and onand Ill do it, too, some of these days! Ill send him where he belongs,a short way, too,one of these nights, if they burn me alive for it!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 34Youre afraid of me, Simon, and youve reason to be. But be careful, for Ive got the devil in me!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 35How long Tom lay there, he knew not. When he came to himself, the fire was gone out, his clothes were wet with the chill and drenching dews; but the dread soul-crisis was past, and, in the joy that filled him, he no longer felt hunger, cold, degradation, disappointment, wretchedness.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 38From his deepest soul, he that hour loosed and parted from every hope in the life that now is, and offered his own will an unquestioning sacrifice to the Infi nite. Tom looked up to the silent, ever-living stars,types of the angelic hosts who ever look down on man; and the solitude of the night rung with the triumphant words of a hymn, which he had sung often in happier days, but never with such feeling as now.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 38 No, time was when I would, but the Lords given me a work among these yer poor souls, and Ill stay with em and bear my cross with em till the end. Its different with you; its a snare to you,its more n you can stand,and youd better go if you can.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 38Hark e, Tom!ye think, cause Ive let you off before, I dont mean what I say; but, this time, Ive made up my mind, and counted the cost. Youve always stood it out again me: now, Ill conquer ye, or kill ye!one or t other. Ill count every drop of blood there is in you, and take em, one by one, till ye give up!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 40Masr, if you was sick, or in trouble, or dying, and I could save ye, Id give ye my hearts blood; and, if taking every drop of blood in this poor old body would save your precious soul, Id give em freely, as the Lord gave his for me. O, Masr! dont bring this great sin on your soul! It will hurt you more thant will me! Do the worst you can, my troub lesll be over soon; but, if ye dont repent, yours wont never end!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 40 There ant no more ye can do! I forgive ye, with all my soul!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 40Do tell us who is Jesus anyhow? Jesus, thats been a standin by you so, all this night!Who is he?- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 40Dont call me poor fellow! I have been poor fellow; but thats all past and gone, now. Im right in the door, going into glory! O, Masr George! Heaven has come! Ive got the victory!the Lord Jesus has given it to me! Glory be to His name!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 41I dont sell dead niggers. You are welcome to bury him where and when you like.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 41Witness, eternal God! Oh, witness, that, from this hour, I will do what one man can to drive out this curse of slavery from my land!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 41It was on his grave, my friends, that I resolved, before God, that I would never own another slave, while it is possible to free him; that nobody, throug h me, should ever run the risk of being parted from home and friends, and dying on a lonely plantation, as he died. So, when you rejoice in your freedom, think that you owe it to the good old soul, and pay it back in kindness to his wife and children. Think of your freedom, every time you see UNCLE TOMS CABIN; and let it be a memorial to put you all in mind to follow in his steps, and be as honest and faithful and Christian as he was.- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 44 A day of grace is yet held out to us. Both North and South have been guilty before God; and the Christian church has a heavy account to answer. Not by combining together, to protect injustice and cruelty, and making a common capital of sin, is this Union to be saved,but by repentance, justice and mercy; for, not surer is the eternal law by which the millstone sinks in the ocean, than that stronger law, by which injustice and cruelty shall bring on nations the wrath of Almighty God!- Harriet Beecher Stowe, Uncle Toms Cabin, Ch. 45

'Man's search for meaning by Viktor Frankl Research Paper

'Man's search for meaning by Viktor Frankl - Research Paper Example Man’s Search for Meaning.† The themes are so critically reviewed to the extent that the critical application of Viktor’s text gives a perfect analysis for other different real-life occurrences. Given the reason to critical applicability, the below essay critically analyzes the movie â€Å"Eternal Sunshine of the Spotless Mind† all from a critical viewpoint of Viktor’s reasoning ideas. On one hand, Viktor suffers as a victim of the Auschwitz Concentration camp as an inmate victim of the World War II. To Viktor, it is quite clear and the general fact that most of the inmates of such level are bound to loose meaning to life. Upon such situation, the inmates slowly grow weak right from the inside. The absolute result is witnessed by all when the individual reveals the inner weaknesses through poor mental conditions and extremely poor health appearances. According to Viktor, an inmate survived longer in the concentration camps depending on how strong the individual meaning for life was. Indeed, Viktor had critically reviewed the some of the most influential human life-facts in history (Victor, 38). In order for every divine individual to live a happy and satisfying life, it is in his or her basic interest to identify the basic purpose in life and derive the most positive fruits from it. The author believes in the conception that if one manages to identify a purpose to live, makes all possible positive feelings of it, and immensely lives to the imagined future outcome; then it is upon fate for the success to be witnessed. Whereas, on theother hand, â€Å"Eternal Sunshine of the Spotless Mind† brings about a whole new approach to people trying to find critical meaning for their lives. The film is set at the action of an estranged couple, former lovers who had their memories erased for the sake of better meaning for their individual lives. Well, the film could have been set on the basis of some fictional life events. However, it emanates and resemble the very

Small business and its challenges Case Study Example | Topics and Well Written Essays - 1000 words

Small business and its challenges - Case Study Example Long term forecasts allows company time to better position itself in the market competitively and at the same time enable it to implement any new approaches. Advance planning will help her reduce expenses, organize her resources, and cope with new trends therefore avoiding unnecessary surprises. With regard to her services, she should be more focused on how to ensure that they are satisfying to her customers hence ensuring a stable operation that can last for long. In every business, slight changes are necessary in order to better meet the needs of the target market. Therefore, it would be of benefit if Mort introduced slight changes or advance versions of her old service, such that she is able to keep up with the new trends. It will ensure that the business future is stable and at the same time keep the legacy of the family. The long term planning will help her know what modifications to make and know when to implement them which will help her business stay afloat regardless of competition, (Morrell, 2001). Capital expenditure is cash spent by an enterprise to obtain or renovate fixed, tangible, non-consumable assets, like buildings and equipment or a new business for a profitable purpose. Since Mort’s business has been there for long, is obvious that the building is worn out and might as well require renovation. She should, therefore, put aside some money that would cater for an overall upgrade. It can involve a little more partitioning of the entire building into a customized way that almost match the current models. Also, she should acquire newer versions of equipment used, such as freezers, in order to better preserve the bodies. Since technology is here to stay and new and advanced ones get introduced very often, it would be advisable if she embraced technologies such as computers. They will assist her in keeping records and vital information in good state and even upgrade her way of keeping tabs on which bodies are

Effect of State Control and High Taxes on Economic Growth

Effect of State Control and High Taxes on Economic Growth Theories pertaining to economic development, with particular regard to those suitable for developing countries, have changed significantly during the post Second World War era. These changes have affected the progress of developing economies, which, in this period, have grown with varying degrees of success; marked with notable successes and enormous failures. The formulation of economic policy for a country necessarily needs to deal with numerous issues, including, very importantly, a determination of the extent of state control in the economy. The last few decades have seen sharp differences in elements of economic policy and fluctuations in levels of state control between different countries, as well as in varying degrees of economic performance. State control in the formulation of economic policy characterised economic thinking from the early forties until the late seventies. Classical economists, influenced by thinkers like Rosenstein Rodan and Leibenstein, thought of economic development as a growth process that entailed the â€Å"systematic reallocation of factors of production from a low productivity, traditional technology, decreasing returns, mostly primary sector to a high productivity, modern, increasing returns, mostly industrial sector.† (Adelman, 1999) They also recognised that economic growth, in the long term, does not come about in a linear fashion and is distinguished by a number of stable equilibriums, one of which, the low income level trap, retards progress in underdeveloped economies. Low income and low growth equilibriums, which originally occurred because of low levels of infrastructural and productive capital, are perpetuated by low levels of economic growth, and compounded further by Malthusian population growth. In such situations, uncoordinated and unplanned investments do not, in the first instance, allow for achievements of scale, and along with low incomes, savings, and demand, result in trapping economies in low income level snares. (Adelman, 1999) Classical theorists argued that governmental action, investment in the public sector, and strong state control, were essential to take economies out of the unplanned and uncoordinated, low income, low growth and static equilibriums, to ones that were coordinated, dynamic, and capable of high growth and income. State ownership also had the support of socialist ideology, common planks adopted by the newly independent developing nations, partly on ideological considerations, and partly in reaction to the capitalist doctrines followed by their former colonial masters. Many governments felt strong state control to be the best route to safeguard economic independence and substitute the private sector’s deficiencies in skills, management knowledge, disinclination to take risks, and lack of resolve to take up long gestation projects. State owned enterprises were thought suitable for stabilising agricultural prices, providing employment, taking care of workers, controlling customer pri ces, and generating money that could be used for other public work. (Osterfeld, 1992) Much of the investment and economic policy followed by countries, mostly in the newly independent countries of Asia and Africa, arose out of this thinking, and resulted in huge investments in state run enterprises, as well as in the domination of the state in the making of economic policy. â€Å"During the 1960s and 1970s, the public sector grew rapidly in developing countries, with state-owned enterprises often accounting for most of the growth. This was especially true in developing countries that had recently gained independence.† (Miller, 1997) State ownership did not succeed for various reasons. Even though there was little to dispute in the logic behind its theory, or deny the significant infrastructure created in state run economies, these countries fared miserably in terms of GDP growth, inflation control, agricultural and industrial productivity, literacy improvement, elimination of income disparities, or poverty control. Prone to corruption, influenced by partisan elements, and notoriously inefficient and slow in their interventionist actions, governments came to be thought of to be particularly unsuitable for regulating economic policy or managing commercial companies. The widespread disillusionment with state control led to a neo classical reaction, characterised by a movement towards privatisation, like the one in the UK, during the Thatcher years. Supporters of neo classical economics stress that governmental control and intervention creates problems, rather than solutions, for underdeveloped countries, and furthermore, that liberalisation of trade is sufficient for inducing and motivating development, providing for economies of scale, and making the economy and industry internationally competitive. The optimal course of action for government is to minimise its role in economic policymaking, and improve the spread of market economies and efficiencies. A number of developing countries, racked with inflation, unemployment, sluggish growth, and burgeoning external debt, had to necessarily switch to neo classical economic policies, in the 1980s, many of them under the compulsion of the World Bank, and similar other international lending institutions . Government leaders also embraced privatisation because of their desire to (a) improve efficiency and productivity through private, as well as shared ownership, (b) enable managers to focus on economic and not social objectives, (c) eliminate political influence, (d) promote competition, (e) improve quality of goods and services and (f) reduce prices. Reducing state control, economists felt, would also lead to expansion of capital markets, augmentation of foreign inflows and investments, creation of additional sources of tax revenues, as well as reduction of subsidies and national debt. (Adelman, 1999) While privatisation in developing economies is into its second decade, progress has been uneven, and in some cases, even abysmal. In fact, countries like China and India, where governments play strong roles, have been able to achieve significantly high growth rates. Their governments decisively shifted emphasis to export promotion, pushed through institutional reforms, invested significantly in infrastructure, and engaged in selective industrial policy. Experts are now realising that uniform one-shoe-fits-all policies never work and economic policies have to take account of a number of variables to be relevant, and furthermore successful. The uneven success of many developing countries, even after embracing privatisation, has also led to a consensus that governments need to be strong, capable, and committed to carry through any sort of reforms, even those that deal with opening and liberalisation of economies. Furthermore, reduced state control appears to work better in economies wit h high rates of literacy, stable political environments, established legal systems, developed capital markets, and strong banking structures. Governments need to consider unique country specific attributes, be malleable, and play dynamic and changing roles in education, human capital formation, infrastructure, technology acquisition, setting up of institutions, and in the development of an honest and capable bureaucracy. The scope and ambit of governmental policy can be reduced sharply only after the domestic environment provides adequate savings and skills, entrepreneurs develop in skills, technology and capital formation, and institutions achieve maturity. While education, literacy and formation of human capital have to remain priorities, governments in developing economies need to initially work towards social development, and creation of institutions, as well as infrastructure. (Kiggundu, 2002) Economic policies, institutions, and governmental functions should allow structural change to occur on a continuous basis, and be ready to change with development; the role of government needs to be effective, not minimal. The tax policy of a country is a major component of its total economic policy, and serves the purpose of a tool to collect revenues for governmental spending and guide the growth path of the national economy, as well as sustain and increase its international competitiveness. While the primary role of taxation is to provide money for financing governmental work it also needs to perform other functions like attracting capital, stimulating growth, enable acquisition of technology, stimulate demand and galvanise the economy. While there is universal agreement on the necessity of taxes, there are differences on the levels of taxation regarded as optimal, as well as the point beyond which they cease to be economic drivers, and become dead burdens. In the traditional neo classical models of economic growth, taxation is thought to affect long term output, but not the rate of growth. (Leach, 2003) This theory, however, is being questioned by recent models, which iterate that taxation can affect incentives for investment in human or physical capital, and thereby, adversely influence the long term economic growth rate. Higher taxation takes away the incentive to save (a) by reducing the rate of return on savings, and (b) by reducing the income that generates savings. Lower savings in turn lead to lesser consumption, lowered demand for goods and services, and lesser capital investment, both at personal and corporate levels, and thus to under nourishment of the economy. While research studies have not been able to relate high rates of personal taxation induce individuals to work less, experience has shown that they motivate people to under declare income, manipulate expenses and indulge in falsehood. The same behavioural response holds good for business corporations and other taxpayers. Economies with very high tax rates like India have witnessed large scale evasion of taxes, hoarding of unaccounted wealth in an unproductive manner, and the emergence of a parallel, illegal, underground economy. Transfer of money from the private sector to the public sector through taxation results in making its use more inefficient. Streams of assured money to the public sector and the government pave the way for creation of further inefficiencies and misuse of funds. The reduced rate of growth also leads to a deadweight loss, a term used to explain the loss of output that would have taken place in the absence of tax. Deadweight costs (losses) go unnoticed, even by those who pay them, because instead of taking from people what they already have, they take from people what they would have had, but will never get. No one sees the extra output that would have been created by economic decisions made in the absence of higher taxes. (Leach, 2003) The incidence of deadweight loss, even if it is just half a percent of GDP, can work out to a phenomenal amount, especially if compounded over a period of several years. Several empirical studies have also revealed that economies with lower tax rates perform much better than those that have higher shares of tax. Thus, while developing economies undoubtedly need significant funds for infrastructural build-up it would be reasonable to assume that excessively high tax structures have the potential to retard economic growth and cause significant harm to growth of human capital and infrastructure, the very objectives they aim to achieve. 2. Public Sector Deficits Most economists agree that the role of the government, especially in the context of developing countries, is to form human capital and create infrastructure across educational, technological, financial, physical, environmental and social sectors. The obvious reason for this lies in the inability of private enterprise to do so. In addition to infrastructural development, public sector spending serves to create demand, stimulate growth, and help kick start economies. Funding for these expenses is primarily through collection of taxes, the shortfall being met either through national or international debt, consumption of foreign exchange reserves or printing of bills. Development that occurs because of funds obtained through deficit financing provides a solution to moving out of economic and low income stagnation. While the role of the public sector and its use of deficit financing is one of the tenets of Keynesian economics, many neo liberal economists argue that the theory is impractic al, has many fallacies, and needs to be avoided by developing economies. (Rangachari, 2001) Neo-liberals argue that excessive deficit financing of the public sector can lead to burgeoning of national or international debt, inflation, or foreign exchange crises, depending upon the method adopted. Increased local borrowing can also disincentivise private sector borrowing by sucking out money available with banks, and causing increases in interest rates. Furthermore, the money arranged through deficit financing is very likely to be inappropriately spent because of numerous demands upon public sector funds, political considerations, bureaucratic delays, and corrupt delivery systems. Government expenditure is complex, multifaceted and driven by opposing forces. The task of ensuring proper allocation of money, as well as its efficient usage, is often beyond the ability of career bureaucrats, and results in gross budgetary distortions, increasing deficits, persistently high inflation, high external debt, increasing incidence of tax, and retardation of economic growth. The main arguments advanced by the neo liberals is not against the theory of public spending but its implementation and management, particularly in large and federal systems with multi-tiered distribution mechanisms. While there is truth in their assertions, neo-liberals need to recognise that smaller East Asian economies like Singapore, Malaysia and South Korea have, at some point of time, resorted to deficit financing, but have still been able to achieve high growth rates through efficient fiscal discipline. The crux of the objections of the opposers of deficit financing lies not in the raising of money but in its inefficient and improper use. The success of deficit financing lies in the commitment of the concerned governmental agencies, and in ensuring that deficit financing is resorted to only to the extent necessary. Money raised through deficit financing should not be diverted to meet burgeoning administration expenditure, or to channels that do not aid development. It would be unjust to think of economists who object to the use of deficit financing, as dyed in the wool cynics who prefer markets to work as freely as they can, and furthermore, believe that governments should not favour any sector of the economy over the other. Their arguments are, for the most part, dependent upon the experiences of the last fifty years, wherein numerous governments resorted to unbridled state control, excessive taxation, and heavy deficit financing, with severe repercussions upon growth and development. It needs understanding that most of these countries were coming out of centuries of colonial suppression, had very little of physical and human capital; very often their leaders took decisions without adequate knowledge of the consequences of their decisions or of their ability to control the consequences of such decisions. â€Å"In practice, a state’s capabilities are often as important determinants of its actions as the theoretical rationale.† (Expenditure Policy, 2007) The situation is vastly different now and leaderships of developing countries are both knowledgeable and competent. There is no such thing as a universal doctrine in economics, and governments recognise that the application of one-shoe-fits-all theories, without taking account of individual considerations, has led to grievous and costly errors. The same rationale holds good of deficit financing and the solution is to be circumspect and prudent while using it; a blanket ban could do more harm than good and impede sincere growth efforts. As such, while deficit financing will often be necessary in framing the economic policies of developing nations, decision makers need to be doubly careful about its use and focus on imperatives, namely (a) the formation of human and physical capital, (b) the creation of public and business infrastructure, (c) the build up of banking systems, capital and commodity markets, and economic institutions, (d) the elimination of unnecessary non developmental a nd administrative expenditure, and (e) the creation of a competent, honest and accountable bureaucracy. Such precautions will go a long way towards eliminating the risks associated with high deficits and enable growing nations to make optimum use of the money made available. Bibliography Adelman, A, 1999, The role of government in economic development, University of California at Berkeley, Retrieved May, 3, 2007 from are.berkeley.edu/~adelman/Finn.pdf Beard, A., 1997, World Bank Reconsiders Role of Government: Report Displays Respect for Regulation. The Washington Times, Choudhury, S. R., 1999, Is Privatisation Really the Answer?. African Business 26+. Das, D. K., 2004, Financial Globalization and the Emerging Market Economies. New York: Routledge. Eltis, W., 2000, The Classical Theory of Economic Growth. New York: Palgrave. Expenditure Policy, 2007, The World Bank, Retrieved May 3, 2007 from web.worldbank.org//EXTPEAM/0,,contentMDK:20233612~pagePK:210058~piPK:210062~theSitePK:384393,00.html Ferleger, L. A., Mandle, J. R., 1993, No Pain, No Gain: Taxes, Productivity, and Economic Growth. Challenge, 36(3), 11+. Growth and Trade in Africa Are Lifting People out of Poverty Faster Than Gleneagles Debt Cancellation., 2006, Western Mail (Cardiff, Wales), Kiggundu, M. N., 2002, Managing Globalization in Developing Countries and Transition Economies: Building Capacities for a Changing World. Westport, CT: Praeger. Leach, G, 2003, The negative impact of taxation on economic growth, IOD, Retrieved May 3, 2007 from www.reform.co.uk/filestore/pdf/negativeimpact.pdf Medium-Term Prospects and Policy Issues in Developing Countries., 1990, 61+. Miller, A. N., 1997, Ideological Motivations of Privatization in Great Britain versus Developing Countries. Journal of International Affairs, 50(2), 391+. Osterfeld, D., 1992, Prosperity Versus Planning: How Government Stifles Economic Growth. New York: Oxford University Press. Pietrobelli, C. Sverrisson, à . (Eds.)., 2003, Linking Local and Global Economies: The Ties That Bind. New York: Routledge. Rangachari, A, 2001, Spur economy through deficit financing, the Hindu, Retrieved May 3, 2007 from www.hinduonnet.com/2001/09/20/stories/0620013h.htm Timmer, C. P. (Ed.)., 1991, Agriculture and the State: Growth, Employment, and Poverty in Developing Countries. Ithaca, NY: Cornell University Press. World Economy Doing Good; Developing Africa, Asia Show Growth., 2006, The Washington Times, p. A17.

Brand Development

Question: Analyze ESPN according to the brand development strategies from the text. What have they done in the past? What would you recommend to ESPN for future brand development? Discussion: Brand development in the past has consisted of creating new and exciting ways to bring the latest sporting events. A company has four choices when it comes to developing brands. It can introduce line extensions, brand extensions, multi brands, or new brands.Line extensions occur when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category. A company might introduce line extensions as a low-cost, low-risk way to introduce new products. Or it might want to meet consumer desires for variety, use excess capacity, or simply command more shelf space from resellers. However, line extensions involve some risks. An overextended brand name might lose some of its specific meaning.Or heavily extended brands can cause consumer confusion or f rustration. A brand extension extends a current brand name to new or modified products in a new category. A brand extension gives a new product instant recognition and faster acceptance. It also saves the high advertising costs usually required to build a new brand name. At the same time, a brand extension strategy involves some risk. Now for ESPN. ESPN loves its name. It puts it name on everything. ESPN The Magazine. ESPN2. ESPN News. The ESPN Zone.To a degree it is fine, as long as it stays within the bounds of extending ESPN's core value: getting sports into every ounce of your life. ESPN The Magazine is the only one that isn't worhty of the ESPN headliner. They should have named it something else. It's not up to the minute, so it isn't consistent with everything else ESPN promotes. Anyways, ESPN Mobile fits the bill. Every sports fan has been stranded to some degree without being able to access sports info they needed to have. And die hard sports fans NEED their info.The concept of the insane amount of sports data being pumped over that network is mind blowing. What is also mind blowing is that for what it is, its restrictive. Today, I don't see the ESPN phone in a family plan or the Mobile ESPN service being offered through standard phone outlets. If Dad or Junior could get a Samsung on Verizon's network featuring Mobile ESPN? Done and done. And with the move to converged handsets, I see the market for Mobile ESPN as single guys with 40 hour-per-week blue collar jobs who like to watch football at the bar.If that's the segment they are targeting, good for them. Love the concept, just wish it fit my profile a little better. The middle class loves the family plans because they don't have to spend twice as much to get the core function of a phone: the phone. For the small service business: stay focused on what makes your name valuable. If you absolutely need to get into a new business opportunity. Sleep on it. If you still must get in, you need a new name for that new business!!!! Nothing dilutes a brand like the jack of all trades.

“How Should Posco-Ippc Increase Its Footprint in the Automobile Segment?

| Business Management IA| â€Å"How should POSCO-IPPC increase its footprint in the Automobile segment? | Candidate Name: Amrit Shah Session no. 002798011 School: Symbiosis International School Research Proposal: Executive Summary: 199 words Word Count: 1977| | Acknowledgements: I would like to acknowledge and thank: * Mrs. Vaishali Phatak for her support and assistance in helping me with this report * Mr. Bharat Indu Bhattacharya- Electric Steel Dept. Manager of POSCO-IPPC, Pvt. Limited, Pune – for his contribution to the report and his time for the interview. * Mr. Joseph Joe- Automobile Steel Dept. Manager of POSCO-IPPC, Pvt. Limited, Pune- for his contribution to the report and his time for the interview. * Mr. Jacy Kim- General Manager of POSCO-IPPC, Pvt. Limited, Pune- for allowing me to do this report on the company and for providing guidance and help throughout. Executive Summary POSCO-IPPC, a steel distributor for the Korean company POSCO have plans about establishing themselves firmly in the Indian Steel Industry given that they are facing consumer problems from their customers in the Automobile sector. As such this paper analyzes the question, â€Å"â€Å"How should POSCO-IPPC increase its footprint in the Automobile segment? † Primarily, a research question highlights the rationale, theoretical framework, action plan and methodology applied and possible constraints in answering the question. An Introduction enlightens us about the background and basic history related to the company itself and of relevance to the question. Findings and analysis is written on the basis of primary research inclusive of multiple interviews conducted with different managers and secondary research inclusive of mails concerning their expenses over the future prospects by the automobile sector manager that acted as a catalyst in evaluating using both financial (capacity utilization and decision tree) and non-financial methods(SWOT & PEST). The report mainly focuses on the problem of raw material which POSCO-IPPC is currently facing due to which they are not able to meet the increasing demand. Based on the research conducted, it is found that POSCO-IPPC has two options to overcome this problem. One that it could ask POSCO, Korea to supply them with greater raw material and the other that it could ask POSCO, Orissa, a manufacturing unit to supply them with raw material. These options have been evaluated keeping in mind the conditions to find out the most feasible option to give a strong conclusion. Possible solutions are discussed and the conclusion suggests that POSCO-IPPC in order to sustain itself in the Indian Steel Market needs to increase its output and using the financial and non-financial techniques discussed and the best viab1e option would be to increase its raw material supply from POSCO, Korea. Contents Acknowledgements†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 Research Proposal†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Introduction†¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8 Procedure/ Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 Main Results and Finding †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ 10 Analysis/Evaluation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 12 Conclusions and Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 16 Bibliogr aphy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 17 Appendix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18 Research Proposal Research Question How to increase POSCO-IPPC footprint in the Automobile segment? Rationale POSCO-IPPC, a distribution centre of Korea’s POSCO Steel Company, is a newbie in the Indian Steel market; they have a monopoly in the Electric steel market and they are undergoing problems in the Automobile sector so they should work on capturing more consumers in the Automobile sector so that they are able to stabilize themselves. The research question focuses on the ways POSCO-IPPC should apply to set its footprint in the automobile segment. Theoretical Framework My plan is to utilize both financial and non-financial techniques to evaluate the problems incurred by the management so that they are able to firmly establish themselves in the automobile sector. The report will analyse the problems faced, thus it will try to solve it using the financial techniques of Capacity Utilisation and Decision Tree and non-financial techniques of SWOT and PEST which will analyse the other problems, opportunities and threats. Key Areas of Syllabus Unit 4 – Operations management Decisions * Introducing Operations Management Improving operational efficiency: Capacity, Scale of production Unit 6 – Numerate techniques for business studies * Information for decision making Primary Research: * Interview with Electronic Steel manager Mr. Sharad Indu Bhattacharya regarding the company history, company status, market and other general aspects about the company’s working. * Interview with Automobile Steel manager Mr. Joseph Joe regarding the market stats in Automobile sector, drawbacks, problems and possible implications so as to understand their market in the Automobile sector. Secondary Research: * Some Information and the list of customers of POSCO-IPPC, Pune, India received through mail from Mr. Joseph. * Other background history of POSCO, Korea used and other facts and figures were taken from the internet. Possible Problems:| Solutions:| Managers were not able to understand the true purpose of the interview resulting in very compact answers. | Managers were asked questions in a very narrow perspective which narrowed down to minute details. | Responses from the managers were related to only their departments, unable to give a general view. Requested them to get information from other managers as well. Small interview with a employee and the production manager. | Limited access to detailed information on the customers and the company as the locations are very far and detail information is confidential. | Acknowledged in the conclusion. | Financial Data was limited to a great extent as it was a new company and Data was yet not published. | Estimates have b een taken and where estimates could not be taken, it has been described in words. | | | Action Plan: Date| Task | 18th August, 2008. | Talked on phone with Mr. Jacy Kim who agreed to let me do my project on the company. | 20th August, 2008. | Will take an Interview with Mr. Bharat Indu BhattacharyaWill take an interview of Mr. Joseph Joe Research Question formulated. | 22nd August, 2008. | Planning will be done as to the way this essay needs to go about. Introduction and Research Proposal will be written. | 30th August, 2008. | Data Collection should be done. | 5th September, 2009. | Main results and findings will be written down based on the information gathered from Mr. Bharat Indu Bhattacharya and Mr. Joseph Joe over the days. 13th September, 2009. | Analysis of the data will be done. | 14th September, 2009. | Techniques of Capacity Utilization and Decision Tree will be applied. Will make a SWOT and PEST analysis. Analysis to be completed. | 15th January, 2009. | Recommendations written. Appendices made and attached. | 16th January, 2009. | Executive summary, content page, Action plan| Introduction: POSCO-India Pune Processing Centre Co. Ltd. , established in August 2006 but started its commercial distribution in 2006, and is a highly recognized by all the major companies of India for its great quality of its steel. Although being a newcomer in the Indian Steel Market, it has set its footprint as a Quality and principle based company. POSCO-IPPC is a coil centre for the Korean Steel giant POSCO Steel Limited which is a global producer of crude steel and finished steel goods. POSCO-IPPC involved an investment of 15 million dollars. It is an independent company of its own as it is a joint venture of POSCO (holding 65% of shares. ) and LG (holding 35% of shares. ) POSCO-IPPC is a processing unit which is locally managed. It is a processor-cum-distributor of steel in the electronic and automobile segment. It only plays a small role of slitting and shearing of the raw material as a processor. Its output is 10,000 metric tons per month with an annual turnover of 320 Crores in the previous financial year. It employs 120 people as its working staff out of which 60 are employed as payroll workers and other 60 are in contract. With the import prices and duties of steel and being a newbie in the Indian Steel market, it is facing competition from other distributors like ESSAR, TATA STEEL, JINDAL and other Chinese and Russian companies. In the Automobile sector, there are many problems created due to its high price and lack of output compared to that in the electronic steel sector for it holds monopoly in the sector for many of its products. As the management is highly equipped in its factors of production, it is researching on ways to exploit the Automobile market in order to firmly establish itself in the country. Therefore this report focuses on- â€Å"How should POSCO-IPPC increase its footprint in the Automobile segment? † Procedure/Methodology The Initial research included a detailed interview about the company and its standings with Mr. Bhattacharya-Electronic Steel manager. Another interview was with the Automobile Steel manager- Mr. Joseph Joe about the Automobile sector inclusive of the discussion over the problem mentioned in the research question. Underlining the major aspects in the interview, the questions focused on POSCO-IPPC’s strength, standings in the market, internal and external factors involved for and against production (which created the PEST, SWOT analysis and information for the analysis), and financial status and estimations advising financial techniques to be applied ( Capacity utilization and Decision Tree. The secondary research resulted in analyzing of POSCO Steel’s information and accessing other reports, industry statistics, market information and data via numerous internet sites. This helped in the results and findings, in strengthening the information available and recommendations and conclusions. It should be noted however, that financial data collected is based upon both à ¢â‚¬Ëœactual’ and ‘estimates’, which need further validation. In addition, the validity of this report may be influenced by the apparent subjectivity of some financial data given confidentially issues. Main results and Findings POSCO-IPPC Private Limited is a subsidiary of POSCO, the world's  fourth largest steel producer and one of the most competitive steel companies (World Steel Dynamics 2006) whose products are shipped to over 60 countries around the globe. Aside from this unit, POSCO has also invested 12 billion USD in Orissa which is proposed to produce an output of 12 million ton per annum by 2010. Since 1990, more than Rs 19,000 crores (US$ 4470. 58 million) has been invested in the steel industry of India and there is an increasing trend in its production. See Figure 1) The auto component sector has also posted significant growth of 20 per cent in 2003-04, to achieve a sales turnover of Rs. 30,640 crore (US$ 6. 7 billion)(See Figure 2). Such opportunities in the automobile sector and the Indian economy can help POSCO-IPPC to establish itself firmly. In terms of current market position, POSCO-IPPC brands itself as a leading provider of electric steel in some of the areas in India for not many of the companies have explored the electric steel market. Being a newcomer, it plans to inhabit the automobile steel market, where it still hasn’t managed to set its foot firmly. The company is based upon certain policies and factors which many of the customers are unable to comply with. POSCO is a global player and it supplies and manufactures steel all over the world. It exports steel from South Korea at an international price which is comparatively high in Indian currency so this difference between the prices, leads to a high price charged by the company. Due to the high price, POSCO decided to put a special price (Rs 49000-cold rolled steel) to fit in the market but in exchange for lower supply of steel so this reduces the supply power of POSCO-IPPC. POSCO-IPPC is only a distribution centre and does not manufacture. It is a market-oriented firm and follows the concept of mass customization for it creates the output maintaining to different customers need. It slits and shears steel depending upon the customer’s want. Its main customers are Crompton, LG and Suzlon in the electrics sector and Tata and Bajaj in the automobile sector. It uses batch production to produce an output of 10,000 metric tons per year where 1. 5% of the raw-material is wasted in slitting and shearing. The demand for their steel is a lot higher than their output and their capacity is also higher (35,000 metric tons/year) but the lack of raw-material limits them, due to the special price-low supply factor. Instead of creating more output, their machines are doing job work for other competitors like JINDAL, ESSAR, etc. of 5000 metric tons monthly. Highlighting the difficulty suffered in the case of TATA MOTORS Pvt. Limited Total Requirement of TATA | 30,000 (Demand going up by 7-10% annually) | TATA’s demand from POSCO (for high quality steel)| 5000-7000| POSCO-IPPC’s Supply to TATA| 2000-2500 (Rest to be supplied to other customers. )| POSCO-IPPC’s Cold Rolled Steel Price at the market | Rs. 53-55000| TATA’s pay price to POSCO | Rs. 48000| | | | | (All figures are in metric tons/month) Analysis/Evaluation: The evaluation of different problems which cause hindrances in trade with other companies will be done with the help of certain financial and non-financial techniques. Financial Analysis: I. Capacity Utilization With the purpose of utilizing its capital to the fullest, POSCO-IPPC has two pathways in order to supply more in the steel market and set its foot strongly: a) acquiring more raw-materials from POSCO, Korea. b) Purchasing of raw-material from POSCO manufacturing unit at Orissa, India. Thus, we will analyze the present scenario of capacity utilization in compared with the two options mentioned above. Present Capacity Utilization scenario: The capital utilization is calculated in percentage and the formulae used for it is given below: OutputMaximum capacity? 00 Current Output: 10000 metric tons/ month. Maximum Capacity: 11250 metric tons/ month. Capacity Utilization = 1000011250? 100 = 88. 89% Option a): acquiring more raw-materials from POSCO, Korea: Estimated output: 11250 metric tons/ month Maximum capacity: 11250 metric tons/ month Capacity Utilization = 1125011250? 100 = 100% Option b): Purchasing of raw-material from POSCO manufacturing branch at Orissa in India: Estimated Output: 11250 metric tons/ month Maximum Capacity: 11250 metric tons/ month Capacity Utilization = 1125011250? 100 = 100% II. Decision Tree: Utilizing this approach for both the options and other decisions to be made by the company are evaluated and financially viable decisions are suggested. (Figure 1) (All money values are in Indian Rupees) Key: Decision square Chance node Calculations: (611. 105mn ? 0. 6) + (466. 07mn ? 0. 4) – 500mn = 53. 091mn INR (572. 88 ? 0. 3) + (491. 04 ? 0. 7) – 500mn = 15. 592mn INR Non-financial analysis: India has gone through a considerable change in the production and consumption of Steel in the past 10 years. Driven a booming economy and concomitant demand levels, consumption of steel has grown by 12. 5 per cent during the last three years it has been forecast that the apparent steel use point in India will increase by 11. 8 per cent in 2008. POSCO-IPPC has great opportunities to set their foot firmly in the Automobile sector. The POSCO steel plant is India’s single largest foreign investment project ever. For its part, the Indian government is eager to boost its steel production and attract more foreign investment through such a lucrative partnership. But it also may lead to limiting of foreign ownership and application of protectionism to prevent foreign investment from exceeding its levels. Technology level in POSCO-IPPC is of high standards and helps them with maintaining the quality. The machines brought in are imported but India is a developing county and it has certain problems of electricity which results in regular power-cuts causing hindrances in processing of steel. These load-shedding periods are often covered by the use of generators but these generators prove to be expensive. The steel being imported is affected by any change in the foreign exchange policies and any government/fiscal policies which may affect them. POSCO-IPPC being a new-comer may feel threatened by the presence of multi-national companies as it leads to greater competition and more exploitation of resources. Conclusions and Recommendations: Available management’s perception on the opportunities to establish themselves in the Steel Industry, it does appear that the management should research this further by the help of a market research and research on all of the customer needs. Analysing the written report on the basis of the data supplied, it appears that POSCO-IPPC’s only hindrance is its limitation of supply which if solved will solve many of their other problems. Using Capacity Utilisation and Decision tree, it was understood that if maximum capacity utilisation takes place, it will reduce the price; increase the output; increasing the output will lead to long term relationships with the customers; it will involve maximum utilisation of resources. Maximum capacity utilisation is only possible with the increase in output which can be only done by increase in the supply of steel. There had been two options discussed with the help of decision tree to look for the best and cheapest way to increase the supply by deciding upon the source. The analysis showed that purchasing from POSCO, Korea at the special price is more profitable (53. 091mn INR) but this is only possible if POSCO, Korea agrees to supply them at the special price. The second possible option was from purchasing steel from the other branch of POSCO at Orissa, India but this would prove less profitable (15. 592mn INR) as they would sell it at the selling price in order to save their profits. Other factors which tend to support POSCO-IPPC to set its foot in the Automobile sector include in the non-financial analysis: growing Indian economy and its Steel Industry; Government support; Great Quality Steel; modern technology used with strict disciplinary issues which makes them a good supplier. Recommendations: As such, my recommendations would be: * Undertake further research in terms of specific of customer requirements and problems, by performing a market research and research on the clients, as many of my findings are generic to the company’s knowledge. More accurately determine the precise nature of the costs and profits upon purchasing steel from the sources analyzed in the written report. * Embark upon extensive research as to search other ways to increase the output and also request POSCO, Korea to supply more at the special price. However, my analysis is limited; it does not cover all the aspects of this topic due to the restraints of the data supplied. The re search was not more extensive because the unit was far away and many meetings were not possible with the officials as this would interrupt in their work . With only two personnel interviewed, a wider perspective from other departments must also be obtained . The report is a reference material, the research can be more extensive and proper results can be achieved if access to more data was possible. The Report is still in progress; there are many issues which need to be solved which can be done with the help of the recommendations and more access. Bibliography Books: AS Level and A level Business Studies, Peter Simpson, Cambridge University Press, Cambridge, 2002, Websites: http://www. stratfor. com/analysis/india_poscos_steel_investment_challenge Steel, India Brand Equity Fund, http://www. bef. org/industry/steel. aspx India Steel Industry, Economy Watch, http://www. economywatch. com/india-steel-industry/ India Automobile Industry, Economy Watch, http://www. economywatch. com/business-and-economy/automobile-industry. html Corporate overview, POSCO-INDIA, http://posco-india. com/website/company/corporate-overview. htm APPENDIX: * Appen dix 1: Interview Transcript with Mr. Bharat Indu BhattaCharya * Appendix 1: Interview Transcript with Mr. Joseph Joe * Appendix 3: SWOT Analysis * Appendix 4: PEST Analysis * Appendix 5: Graphs * Appendix 6: Mail from Mr. Joseph Joe Appendix 1: Interview Transcript with Mr. Bharat Indu Bhatta Charya, Electric Steel Dept. Manager of POSCO-IPPC, Pvt. Limited, Pune 1) Good Afternoon, Could you please enlighten us about your company? * Good Afternoon, POSCO-IPPC stands for POSCO – India Pune Processing Unit. We are situated in the Talegaon Horticulture and Industrial Park in the dist. Of Pune. POSCO-IPPC is a coil centre as known by its parent company POSCO, which is a steel manufacturer giant in South Korea. It is the fourth largest producer of steel in the world and its distributors and manufacturing units are spread all over the world. From the start of this company to the present date, POSCO has led to massive advancements in the socio-economic status of South Korea. Coming back to POSCO’s investment in India, this is POSCO’s third investment, the other two being in Delhi and Orissa. Although POSCO is POSCO-IPPC’s main investor but it is an independent company which is locally managed. POSCO entering in a new market planned to establish this processing unit as a joint venture with LG International, where POSCO has 65% of shares and LG international owns the rest 35%. A total 15 million $ was invested in this project and it commercial processing started in 2006. 2) Can you emphasize more on your commercial processing and the working of this unit? * POSCO-IPPC processes the raw material which comes from POSCO, South Korea and distributes it to the customers. By processing, we mean the steel which comes from POSCO is slatted and sheared according to the customers need. We receive our steel in the form of coils, this is one reason for our being known as coil centre, then the coil is put in a machine which slits and shears it based on the dimensions set. This is then packed and sent to the respective customers. Our major customers are Crompton, LG, Suzlon, TATA and Bajaj. Our company produces output for electric steel as well as automobile steel. Although in the electric steel market, we hold a monopoly but in automobile, we are yet to expand our approach. These are the different types of steel we produce: Electric Steel * CRGNO- Cold Rolled Grain Oriented Steel * CRNO- Cold Rolled Non-Grained Steel Automobile Steel * HR ; PO- Hot Rolled and Pickled ; Oiled Steel Cold Rolled Steel * Stainless Steel White Goods * Electro-Galvanised Steel We have 120 people as staff, out of which 60 are on payroll and 60 are on contract. We follow the batch production for our processing unit. Our output is 10,000 metric tons / month with an annual turnover of 320 Crores as of last year. The raw material which comes to us, we add a value addition of 10% and sell it in the market. Our capacity to produce is 135,000 metric tons per annum where as its outp ut is low because of the lack of raw material so the capacity utilization is not up to the mark. So to involve our other machinery, we do job work for other companies of 5000 metric tons. 3) Can you please tell me about the managers of this company? * The managers at all the leading posts in the company are all from South Korea and they have been assigned by POSCO for a fixed period of years for a perfect start in the Indian Steel market. These are very experienced and are strict followers of discipline and quality. The work at POSCO-IPPC is efficient and advancing due to these managers. These are: * Gil Ho Bang – Managing Director Jongyeol Her – General Manager * Jung Chule Kim – General Manager * Woon Tae Jung – General Manager 4) Can you please tell us about the difficulties you are facing as a new company in the Indian Steel market? * We have a monopoly many in the market for Electric steel so we don’t have any problems in that sector but in the automobile sector, our competitors are well established and they have a far greater market share than POSCO-IPPC in the market so it creates pressure on us to create our product better than theirs to stay in the market. Our competitors: TATA STEEL, JINDAL, ESSAR, ISPAT and other Chinese and Russian companies. The two main difficulties which our company is facing are: * There has been a Star Rating which the Indian Government has started on the electric appliances. This effect of BAE Star Rating on the consumption of Electric Steel. * The Automobile sector in India is booming and has a lot of scope so POSCO-IPPC is trying to increase its footprint in the Automobile steel segment. There is a lot of demand for POSCO’s quality steel in the Automobile sector. 5) What is your SWOT? SWOT Strength * Any downfalls can be supported by POSCO-Distribution of quality steel – Inherits a quality name in the market from POSCO- Maintains strict disciplinary levels- Market leader in Electric Steel- Demand for its quality steel in the Automobile sector-Machinery is very advanced and the labour employed are few but skilled. Weaknesses * Not enough raw materials-Is not yet able to firm its stand in the Ste el market-The high price of their product due to the currency of Korea being more powerful – Language/ Cultural gap between India and Korea. Opportunities To increase its output and meet the high demand – Lack of high quality steel in the Automobile market gives them a big opportunity – India encouraging foreign investments- Increasing International trade between the countries- Rate of high economic and the country's economy gradually increasing- Special Reduced Price for the steel. Threats * Price of the raw material is highly dependent on the foreign exchange – POSCO holding a small share in the market is comparatively smaller than its multi-national counterparts -Low output due to lack of raw materials which may result in the loss of customers and a long term relationship. Appendix 2: Interview Transcript with Mr. Joseph Joe, Automobile Steel Dept. Manager of POSCO-IPPC, Pvt. Limited, Pune 1) Good Afternoon, What can you tell me about POSCO-IPPC in relevance to the Automobile market? Good Afternoon, POSCO-IPPC is a subsidiary of POSCO which as you know is a global producer and distributor of high quality steel. So as its parent company, POSCO-IPPC is also known for its high quality in the Indian Steel market. Automobile Company requires high quality steel for the chassis parts of the automobile, usually such parts are imported or substitute quality steel is bought so due to the lack of high quality steel producers in India, there is a lot of demand for the emerging POSCO-IPPC’s Steel. Though POSCO-IPPC has so many opportunities to set itself firmly in the market, it has many hindrances preventing it from doing so. 2) Can you pleases talk about the hindrances in little more detail? * There are many factors which sum up to conclude as a hindrance for POSCO-IPPC. The major ones are: * High cost of POSCO-IPPC’s Steel leads to a discouragement to the Indian customers. * POSCO-IPPC is looking for big customers so they are able to establish themselves by directly targeting at the higher end. * POSCO-IPPC is strict in its payment dates which are not favoured by all its customers for they need a margin to settle their accounts. * Although the main problem is the lack of raw material from POSCO. Due to the Special price-low supply condition between POSCO and POSCO-IPPC, there is low supply of raw materials. The demand is high for POSCO-IPPC’s steel but due to low output, it cannot adhere to every customer’s needs. POSCO-IPPC is capable to produce more output than its current production but due to the lack of raw material, it has to restrain itself and do job production. * POSCO-IPPC’s customers expect a same price and supply surety for three months which is not possible for POSCO-IPPC as it imports its raw material and it is subject to foreign exchange policies and other government policies which affects its price. The supply surety cannot be given due to lack of supply of raw material. * Also the defaulting of POSCO-IPPC’s price and bargaining to pay less price by the customers is discouraging POSCO-IPPC to expand itself so quickly as they are losing on their profits. * But overall, the lack of raw material is a big issue and solving that issue can solve many other problems related and in the course of time, brisk movements of trade will solve other problems too. 3) What can you tell about the special price-low supply condition? POSCO is a global player and it distributes its steel at a common international price (Rs 59000) to the world but as that rate is very high in terms of Indian currency, it would not settle down in the Indian market so in order to satisfy its Indian customers, it reduced the price and this is known as special price (Rs 45000). But as POSCO reduced the rate for POSCO-IPPC, it only did this for a condition and this condition was that POSCO-IPPC will receive only a limited supply from POSCO, Korea. ) Since TATA is one of your major customers in the automobile segment, can you please put light on the company’s relationship with TATA? * Sure, TATA Motors is a major customer of ours and there is a considerable amount of dealings with TATA. Tata itself produces steel but is partly dependent on POSCO-IPPC for high quality steel for the chassis of their automobiles. They need good quality for the outer body of the car for it to be firm and more attractive for which they take the support of POSCO-IPPC. Tata requires 30,000 metric tons/month and the demand is going up by 7-10% / year. Tata demands 5000-7000 metric tons/month from POSCO-IPPC but it can only supply 2000-2500 metric tons/month to TATA for out of its total output, it also needs to supply to other customers in order to remain in the market and also to stabilize it. The customers in the market are also asking for POSCO-IPPC’s steel like General Motors, Volkswagen and Fiat. For which TATA has supported POSCO-IPPC in sending a petition to POSCO to supply more steel. POSCO-IPPC distributes cold rolled steel in the open market at Rs 53-55000; the price keeps on fluctuating, whereas TATA gets it at Rs 48,000 (maximum. ) Thus, such factors are creating hindrances in transaction between TATA and POSCO-IPPC. 5) What is your PEST? * PEST POLITICAL & LEGAL * Central Government encourages the foreign investment- Change in the central Government may result in change in different trade policies – Indian Economy has shown relatively high levels of development, stability and potential growth. -Korea having a high level of percentage of investment in the Indian market Economical * Indian Economy is booming-Growth in its GDP and economic growth-Fluctuations in the exchange rates -Social ties and contacts between India and China is increasing-Expansion of a basic industry is always favoured- Company also gives importance to maximum exploitation of resources. Social * Opened a school for the children of its workers- Helped to develop the village Talegaon -Increase in the capacity of the unit, there will be more employment in the area-Adapt the Indian Culture-It believes in job satisfaction and motivation of its staff Technical * POSCO-IPPC uses advance technology to process its raw material-High dependency on technology-India is a developing country where there is a great problem with electricity so load shedding takes place-Alternative method to use generators during the time of load shedding proves expensive-Supply of diesel in such large quality proves to be a negative factor. Appendix 3: POSCO-IPPC SWOT Analysis Appendix 5 – Graphs Figure 1: Figure 2: Appendix 6: Mail from Joseph Joe This was a mail from Mr. Joseph Joe giving out some information. Investment: 500 mn INR | | | | | | | | | | | | | Probability | | Difference| | Source Company | | Cost Price/ metric ton | | Selling Price/ metric ton| | Quantity Purchased and sold| | Total Revenue| | | | | | | | | | | | | | 0. 6| | Special Price| POSCO, Korea| | Rs 45000| | Rs 55000| | 11111| | 611. 105 mn INR| 0. 4| | No Special Price| POSCO, Korea| | Rs 59000| | Rs 55000| | 8474| | 466. 07 mn INR| 0. 3| | Wihtout O. H. E| POSCO, Orissa| | Rs 48,000| | Rs 55000| | 10416| | 572. 88 mn INR| 0. | | With O. H. E| | POSCO, Orissa| | Rs 56000| | Rs 55000| | 8928| | 491. 04 mn INR| ——————————————– [ 2 ]. Refer to Appendix 1 – Interview with Mr. Bhattacharya [ 3 ]. Refer to Appendix 1 – Interview with Mr. Bhattacharya [ 4 ]. Refer to Appendix 1 – Interview with Mr. Bhattacharya [ 5 ]. POSCO-INDIA, â€Å"corporate overviewâ⠂¬ , http://posco-india. com/website/company/corporate-overview. htm. (20th September, 2008. ) [ 6 ]. Refer to Appendix 5- Graphs [ 7 ]. Economy Watch, â€Å"India Steel Industry,† http://www. conomywatch. com/india-steel-industry/, (20th September, 2008. ) [ 8 ]. Economy Watch, â€Å"India Automobile Industry,† http://www. economywatch. com/business-and-economy/automobile-industry. html, (23rd September, 2008. ) [ 9 ]. Refer to Appendix 5- Graphs [ 10 ]. Refer to Appendix 2 – Interview with Mr. Joseph Joe [ 11 ]. Refer to Appendix 1 – Interview with Mr. Bharat Indu Bhattacharya [ 12 ]. Refer to Appendix 2 – Interview with Mr. Joseph Joe [ 13 ]. Refer to Appendix 1 – Interview with Mr. Bharat Indu Bhattacharya [ 14 ]. Refer to Appendix 6 – Mail received from Mr. Joseph Joe [ 15 ]. India Brand Equity Fund, â€Å"Steel,† http://www. ibef. org/industry/steel. aspx (3rd August, 2008. ) [ 16 ]. SWOT Analysis [ 17 ]. PEST Analysis [ 18 ]. http://www. stratfor. com/analysis/india_poscos_steel_investment_challenge [ 19 ]. PEST Analysis [ 20 ]. SWOT Analysis [ 21 ]. PEST Analysis [ 22 ]. SWOT Analysis [ 23 ]. PEST Analysis [ 24 ]. http://www. economywatch. com/business-and-economy/steel-industry. html [ 25 ]. http://www. economywatch. com/business-and-economy/automobile-industry. html