Ilya Repins Volga boatmen Essay Example for Free

Ilya Repins Volga boatmen Essay â€Å"Painting is a branch of the visual arts, in which color is applied to various surfaces to create a representational or abstract picture or design† (Vishny, 2003). A painting can represent an artist’s ideas or reflect the condition of a society. Some of the great masterpieces in art history include Peter Rubens’ The Battle of the Amazons, Frederic Church’s Heart of the Andes and Ilya Repins Volga boatmen. The Battle of the Amazons was painted by Peter Rubens during the Baroque epoch in 1616-1618. The painting employed the Flemish Baroque Style while the theme represented a battle scene from Greek mythology. It showed a violent struggle between Theseus (King of Athens) defense force and a group of women warriors commonly known as Amazons. In this graphical depiction of Rubens, he made use of strong dark colors of red, black and yellow that exemplified belligerence. â€Å"The glowing color and light that flickers across limbs and draperies gave a sense of movement and tactile strength† (Davison, 2006). For me, this piece of art showed that in a game of war nobody wins and everybody looses. No matter what the motivation or the cause of the conflict, war can’t still be justified because in reality lives are being taken and that is contradictory to human’s purpose which is to live. On the other hand, Frederic Church’s Heart of the Andes is a pleasant landscape illustration of a scenic view in Ecuador along the Andes Mountains. His delicate fusions of water, light and air and his seemingly infinite vistas emphasized an accurate depiction of an unspoiled and picturesque environment. This painting gave many Americans during the late 19th century their first glimpse of the tropics, which is rendered as exotic and as an underdeveloped terrain (Smith, 1989, pp-1-2). I think that the â€Å"Heart of Andes† reflected the artist’s love for nature. Meanwhile, Ilya Repins Volga Boatmen is a painting about bargemen which were called â€Å"burlaki† harnessed together along the shoreline of Volga River in Russia. Repin was able to convincingly depict the status of the working class during that period. He treated the main elements of his painting with dark colors to represent weariness, melancholiness and captivity which is contrasted by the light yellow and blue hues that showed nature’s beauty. Furthermore, Volga Boatmen became the model for mid-20th-century Soviet socialist realism that honestly and realistically demonstrated the social condition of Russia during that period (Davison, 2006). These three art works are representational paintings. The Battle of the Amazons, Heart of the Andes and Volga Boatmen represented a particular event, a definite place and a specific social condition. Ruben, Church and Repin used the same medium but they pointed out three different views. In the case of Ruben, he gave a glimpse of the Greek mythology, which is a commonly used theme in the Renaissance era, to his viewers. Beneath the nudes, animals and mythological creatures, issues on the effects of war and subordination of women were raised. For Church, he used his artistry to showcase an unspoiled landscape and stressed that places like this do exist outside their own backyard. The natural effect of the painting gave its viewers an organic feeling which is in opposite with Ruben’s somber depiction of the Battle of the Amazons and Repin’s gloomy rendition of the Volga Boatmen. Meanwhile, Repin showed in his painting his advocacy for socialist realism. He depicted a social scene with a realistic detail to impart to his viewers his social conviction. Overall, these paintings may differ in subject matter, color or styles but the only common thing in these masterpieces is that these are not only art works but are also considered as historical documents that tell a story of a certain period or time. More so, these paintings exude a serious mood with the common theme of battle. It is seen mostly in the small detailed elements that were carefully placed by the artists in their respective paintings. In the Battle of the Amazon, the use of dead nudes dramatizes the plight of women against the Greek men. The painting emphasized the social status of women as inferior to men but the battle scene depicted the attempts of the amazons to prove to the Greeks that they are not weak. Meanwhile, in the Heart of the Andes, it shows a different kind of battle. The presence of the white cross and open-root tree on the riverbank suggests the vulnerability of the environment. Church intended this element to show the fight to preserve and protect the pristine beauty of nature from the opportunist hands of man. As for Repins Volga Boatmen, the sea elements on the shoreline accentuates the barrenness of the place that heightens the unfavorable condition of the boatmen. This painting represents the conflict between workers and the upper class. It shows the class struggle of the masses against the privilege. References Davison, B. (2006). A Painting Critique: The Battle of the Amazons, Heart of the Andes, and Volga Boatmen. Associated Content Inc, pp. 1-2. Retrieved February 23, 2008, from http://www.associatedcontent. com/article/93533/a_painting_critique_the_battle_of_the. html. Lerkins Global Ltd. (2003). Rubens, Peter Paul The Battle of the Amazons. Retrieved February 23, 2008, from http://oldmasterpiece. com/rubens,peter,paul,the,battle,of,the,amazons,738. html? PHPSESSID=ed5695e80ea4b61861f84e53e04b9c7a Smith, R. 1989 October 30. Review/Art: Poetry and Showmanship of Frederic Church. New York Times, pp. 1-2. Vishny, M. (2003). Painting. Microsoft Encarta Reference Library. Microsoft Corporation.

What western companies face when entering China

What western companies face when entering China This thesis will focus on the business environment for MNCs planning to invest their businesses in China. Today, China has a huge market for foreign investment and low labour work force.it has its own unique culture differs from the western countries. The culture shock and the different market characteristics are the key difficulties for foreign businesses, also not an easy business environment to penetrate. China business environment has helped so many MNCs in the past and present to achieve their profit. It also analyse the barrier of entering mode and how difficult it is to get the right Chinese partner to negotiate with. Having the money its not the problem getting fully connected and a good relationship with the government is significant. Another dynamic code for western companies its guanxi, well connected Chinese person although what happens in China now is that the highest guanxi merits the business. China is amazing, the beauty of Shanghai has made several multinational companies to flock into the Chinese market through beverages, furnitures, pharmaceuticals, logistics also contributing in their economy growth through wholly foreign owned enterprise WFOEs and EJVs equity joint venture. However, formal rules need to be backed by informal rules to be inefficient in terms of overcoming any informal limitations of human interaction. Informal rules need to be such that the costs of enforcement, measurement, supervision and monitoring can decrease. The difference between the marketplace China and the west is that both, formal and informal rules are well developed in the west, while they are severely underdeveloped in China. IKEA is a successful case to open the China market recent years. The main goal is to acquire the information in order to provide the overseas retailers with a good entering and starting point for creating an effective business plan and operating successfully in the Chinese furniture market. Another successful case in the Chinese market is Coca-Cola who entered the business market as a joint venture but now have five major bottling plants in five different cities in China, two of them are owned by joint ventures why the others are WFOEs wholly foreign owned enterprise Introduction In an era where consumers are more demanding, critical and possess higher purchasing power, firms increasingly discover that where service was previously a mere factor employed in support of the main organizational functions, the quality of, and efficiency in delivering, service, have now joined the fundamental business pillars of technological advancement and product novelty as principal determinants of success. Nowadays, many businesses in service-oriented industries in China, including MNCs furniture, beverage chains, rely on Chinese culture as a distinctive cutting edge in gaining and maintaining business. Hampden-Turner, (1990) suggests that culture is fast becoming a vital business tool in the encouragement of high performance in China. Where multinational organizations attempt to replicate these values in another national setting, problems may arise. Mead (1994) suggests that such organizations may have to modify these home country systems, structures and values to comply with local norms. China was an emerging market where the main challenge for MNCs was simply getting started, choosing the right joint venture Chinese partner and securing government permission to enter the market, the right city to sell in, and even the right target customer segments in those cities. However, few companies had large, complex operations in this market. Today, over more than 450 of the fortune 500 foreign companies are in China, and they are all facing home-grown competition from Chinese companies is rapidly growing. The Chinese market more profitable, more complex, and also potentially riskier than ever. As Chinas economy grows and open further, the opportunity it presents to MNCs is changing. Now, western companies can actually go after the Chinese domestic market, and its worth going after, the improvements in Chinas infrastructure, workforce, and regulatory environment are making it possible for companies to lower their cost to reap new competitive advantages. Lieberthal.K,and Liebe rthal,G. During the decline in demand brought on by the Asia financial crisis in 1997,then China made massive infrastructure investments, including a huge expansion of the highway, telecom, rail, and water management systems. All these investments have improved connections among what used to be largely separate domestic markets. However, the regulatory environment is also moving in the right direction, also getting more transparent. As China implements its WTO commitments, many opportunities are opening up to foreign firms, which are increasingly in the same position on an equal footing with home-grown companies. Also, with the structural changes established by the National Peoples Congress in March 2003, indicate additional progress in shifting the role of government from the planning and administration of a socialist economy to the regulation of market economy. In 1990, China led the world in the production of only televisions and cotton textiles, by 2002 they added refrigerators, motorbikes, cameras, DVD players, desktop PCs, bicycles, cigarette lighters and cellular phones. China, in sum is rapidly becoming the manufacturing center of Asia. In this thesis I will examine what multinationals need to know before entering China for business, in the next ten years, multinationals should be the biggest winners in China. For, western companies to reap the benefits, a multinational must properly nest its effort into its overall business, show one face to China at the national level and tailor local strategies, be wary of EJV and mitigate risk, and in particular the theft of intellectual property. One important reason for this trend, in FDIs and foreign companies is no doubt globalisation. The phenomenon has given individuals the awareness of opportunities outside their region or territory. In that case it can be seen as an incentive for foreign investors looking to gain global market share. Which off cause globalisation has made the world not only globalised but very competitive. Also, as these foreign investors are expanding they have to be cautious on issues such as culture, negotiation, risk and most importantly the politica l environment. All these issues we be examined in the rest of the dissertation. The research method used is based on case studies. Which are real life examples, showing the success of one firm to the failure of another. At the end one discovers that culture has its own trait into the Chinese working society, based on established theories. Means of Entering China: When entering China, western companies have 3 investment vehicles that can be used, Equity Joint Venture (EJV), Wholly Foreign Own Enterprise WFOE, and foreign-invested companies limited by shares (FICLS). Traditionally and in the past foreigner and western companies enter through EJV using a well connect Chinese partner or middle man, this trend is still stand although in some sectors. Today china is changing, more and more opportunities are created and more challenges face western companies. More western companies are entering and have begun to explore the chines market through WFOE as the best alternative. Although EJV and WFOE are similar in terms of corporate liability and taxation and operate within the same foreign exchange rules. One of the reasons for changing tend would be the time. It takes more time to establish an EJV than a WFEO. WFOE are faster to set up and easier to manage. They allow managers to expand operations more rapidly and meet only minimal resistance from au thorities. Harvard Business Review 2004. Another reason would be the limitation and underperformance of EJVs. Western companies investors are finding greater managerial control and flexibility which makes an excellent start for the competitive market in China. Some analyst describes the new emergency of WFOE as dramatic in china. Access to Chinese markets through a Joint venture is more limited than many foreign investors have hoped, and much more limited than most Chinese partners can deliver.   By 2002, WFOEs comprised nearly 65% of the approved projects and by value 69% of the deals.  Ã‚  Its expected that WFOEs will grow even more in number and value once more of  Chinas industrial sectors become open wholly-owned ventures that are currently restricted to JVs. Some advantages of WFOE is that it gives greater protection of intellectual property rights, know-how and technology since no partner required and therefore more control of IP. It also helps with greater efficiency in its operations like mentioned above, including management and future development. In addition the ability of converting RMB profits to US dollars or other foreign currency for remittance to their parent company outside China. U.s household products company had entered china through an EJV in 1990 with Shanghai Jahwas corporation. Jahwa was Chinas largest cosmetic manufacture. The two companies had conflicting interest and the result was devastating. First the US Company intended to capitalise on the Chinese base company for distribution, brand equity, guanxi in other to push its own production line. On the other hand Jahwa Home Base Company was looking to the foreign company to upgrade the companys technology and increase its competitive capabilities both locally and abroad. Having direct direction, aims and objects except for sales, the joint venture went into halt for 3 years. Following that was a we drawer from Jahwas selling all it shares. This action left the American base company seeking a new local partner to save its investments and to save face. Such actions and the Chinese culture make it extremely stressful and risk taking for western companies to undertake in an EJV. In contrast to Jahwas and the U S base company, the experience of Johnson and Johnson a western pharmaceutical company that entered china as part of an EJV is slightly different and optimistic .The company entered China as an EJV, Although this had been successful, but a change in strategy came in 1992. The company decided to launch new products in oral care, baby and feminine hygiene but as WFOE, looking for more control over sourcing and marketing. This result was achieved, ever since the introduction of the new venture, revenues have increased 40 % to 50 %. Following, that was the decision from the company to continue its business operations as WFOE unless they were given a great and major offer from a Chinese partner. In respect of the different cases, it is important that western companies enter china through the right way, either EJV or WFOE demanding on the offer and the possibility of gaining market share. Although this is exaggerating for western companies to enter and gain market share due to the level of local competition, but having the right partner and long term sight might bring the puzzle together. Despite the criticism of EJV and the thought of been left to hang out dry there are also Chinese in the market looking for westerners to join or buy part of an EJV. This on its own is increasly happening. Short Term and Long term Results This is important for new investor or foreign companies planning to enter china. One would have to look at the long future not the short term. There are uncertainties about political stability and the market economy. What could go wrong? Could it affect the companies aims or objectives. In the case of china, the future some is bright, a rising star, with a demanding population there might always be a market and most especially consumers. Most western companies might not want to enter the Chinese market on the short term basis because of uncertainties, however in most cases it is impossible to do. They end up finding themselves in the market for the long term. Several multinationals are approaching China as a long- term strategic market, and they are investing large sums of money to help build sustainable long-term positions. In the short term, the result might not be as expected, and it is unlikely to make profit gain market share. Companies would have stages to under go, from introd ucing the brand, acquiring consumers to keep sales stable. Many western companies look to the case of Coca Cola as an early entrant in the Chinese markets and back the arguments that one must be around a long time in other to achieve best results. The case of coca cola When Coca Cola entered china in the early 1980s, it wasnt well received by the consumers. The market was saturate with different soft drinks, most being lightly colour or orange flavour. In that case Coca Cola changed strategy and began to invest in sprite and Fanta. While doing this Coca Cola never lost sight of pushing its brand forward. It continued to invest in branding the product coke. By the early 1990s consumers began to accept the soft drink that the sales of other began to decline. Sales of Coke to Sprit volume ratio was four to three. In contrast, Pepsi- Cola has been less successful with 7-Up, the Pepsi to 7-Up ratio is four to one. Coca-Colas long- term success has been also involved taking as much control as possible of its joint ventures. When the company first entered china it was force to merger as a joint venture. It formed an EJV with China National Cereals, Oils and Foodstuffs Import-Export Corporation (COFCO). However in 1988 when regulations changed and where more relaxed, the company moved quickly to buy shares from its partners, having full managerial control of firm. It was complete, coke decided to invite 2 new partners when establish a new joint venture. The partners were Citic China International Trust and Investment Corporation, Swire Pacific, and Kerry Group. Citi is a state owned companied founded by Deng xipong, this relationship between the two partners could if not used as a basis for developing guanxi or influence , related to the process of doing business in China. Though the case of Coca Cola was succefully and showed how the long run paid off the company today the company has gained enormous share in the Asian region with China being the third just after Philippines (see chart below) so did other early entrant like Volkswagen report to be successful over the long peiod of time, growing at double digits per year. However, some other western firms have found it different. But Peugeot entered the Chinese market at the same time as Volkswagen, and it has lost tens of millions of dollars each year since 1995. This brings us to the argument of why are short-term results so important? Turbulent market such as Chinas, sustainable long-term positions are necessarily built on a series of successful short-term moves. Short-term results can help build brand recognition, attract local talent, and secure support from the parent company, which can create a virtuous cycle. Source: http://fliiby.com/file/328720/m6qct0zqis.html. By contrast, a vicious cycle is established when a multinational company sees no positive short-term results. Rather than revise the companys strategy, managers typically justify underperformance with the argument that China is a long term market. However, the hard truth is this, when no positive short-term results are seen, critical mass is not achieved, so the overhead cannot be spread over a reasonable volume. Therefore, the operations lose credibility back at the home office. As a rule, the China business is then scaled back in order to reduce short-term losses. What MNCs have to put in mind is that, in general, market share falls and the Chinese operations are second guessed; How far should we go, How hard should we push, When will we see results and How attainable are the long-term targets .Drawing upon these dynamics, players that want to be around over the long run had better be making the right moves today or they we be sitting on the side-lines before tomorrows game even be gins. It doesnt mean that MNCs have to get every thing right? No. Everyone makes mistakes. Moreover, multinationals must learn from their mistakes and learn fast. Long term success is best achieved through measurable short-term results. Guanxi Guanxi can be roughly described as a type of social capital that is developed between two persons via a process of reciprocal exchange (Gregory Osland 993). Has become a familiar term among those involved with Chinese society its creating personal connection, networking and a valuable asset for any one thinking of investing or doing business in China. Access to Chinese markets can be hindered by what is thought to be the great door-opener guanxi. Therefore, guanxi has long been touted as an invaluable asset to western investors. This concept is different to that of the west. Westerners put a premium on the networking, information, and institutions, the Chinese place a premium on individuals social capital within their grow up friends, relatives, and close associates. Although today some argue that the role of guanxi is fading, as some Chinese business practice the western style of business. According to Hexter and Woetzel 2007, more and more western companies are finding out that the scope of their Chinese partners guanxi is limited, which may take them in directions that are difficult to control or may not be strategically suitable. In addition, some companies are finding that guanxi may not be cost effective. This doesnt underestimate the force of having guanxi, it remains an important social force. More often than not, the person with the best guanxi wins. Although the key to using guanxi as a way of establishing reputation is to focus on developing and maintaining a network of high-quality contacts while maintaining the focus on the discrete relationships that constitute the network. Organizations can establish themselves as reputable in China by having a multitude of organizational participants engage in guanxi -based business practices. However, guanxi remains a product of individuals and becomes an organizational asset only to the extent that individuals are willing to use their guanxi in order to achieve organizational objectives. Maintaining guanxi Maintaining guanxi in china is essential and important. It is also important even critical to note that the entire process is embedded in discrete relationships. One must continually invest in their guanxi networks In order to maintain the network and relationship. A survey conducted by the Hong Kong Independent Commission Against Corruption (Anonymous, 1993) found that Hong Kong business persons spent 3 5 per cent of their total operating budgets to cultivate guanxi in China. Yan (1996) found that in the north China village of Xjajia, households spent between 10 and 20 per cent of their disposable incomes on nurturing guanxi relationships. Indeed, the cost of maintaining a guanxi network can be quite expensive (Park and Luo, 2001; Yu, 2002 ; Fan, 2002b). However, the penalties for not continuing to invest in the relationships can be rather substantial. According to Tung and Worm (2001), Most European firms appear to have a basic grasp of guanxi. However, these same firms do not appear to recognize the importance of continued investment in the guanxi relationship. Most of the firms surveyed by Tung and Worm showed a reluctance to engage in substantial social activities outside the normal work environment. Consequently, the depth of relationships developed was substantially hampered (a limitation on the quality of relationships established). At the extreme, a failure to focus on the long-term relationship can be perceived as an expectation of immediate pay-out, which can be interpreted as an attempt at bribery. Such a perception can have a devastating impact on reputation. Succeed with Guanxi Having guanxi is only for starts, succeeding with it will yield the owner the benefits Davies  et al. (1995) highlighted a number of benefits to be derived from guan xi: It can serve as an information gathering mechanism; It can act as a means of securing access to important resources; It smooths the process of gaining privileges such as government licences etc.; It is often used to enhance company reputation; It can contribute to the building and enhancement of competitive advantage; and It can serve to open doors where once they were firmly shut. While trying to succeed with guanxi. It is important to note that guanxi remains the product of the individual. It would not only be inappropriate to describe an organization as having good guanxi but difficult in the true sense to achieve .the only way organizations can have the concept as an assets is through its employees. In most cases these who are amongst senior/ high ranked employees, especially in western companies. But the dilemma is that guanxi becomes an organizational asset if the individuals one have it, two maintain it (and that would require at an escalating manner) and thirdly are knowledgeable on how to succeed on it in order to achieve organizational objectives. An organization with the greater number of individuals possessing guanxi has greater possibilities of getting deals done if not faster. It also gives the company greater reputation causing a multiplier effect. In that case organizations should endeavour to promote and support the development of this concept within its employees. Incentives like rewards or bonuses can be given to individuals using guanxi to promote the companies core objective. In that way employees would be enthusiastic about the approach especially westerns who come with a different way of doing business. Negotiation They have different basic cultural values and ways of thinking when it comes to negotiation. The westerners are known to prefer quick meeting and getting deals done fast. The chines on the other hand are known for their long courting process and as some would say Friendship first then business. When it comes to doing business any way, the art of negotiation is important, if ignored could lead to the end of the deal before even getting to start. Westerns approach negotiations with an informal attitude while the chines are formal. What ever the case maybe, communicating in the same direction is needed. However some argue that there are a lot of communication break down that exist between western and Chinese businesses. One of the causes is the failure of westerners to understand the broader context of the culture and values in China. However problem that too often leaves western negotiators confused and whirling. (Harvard Business review pg.32) Western and Chinese approaches often appear incompatibility. Westerner see Chinese negotiators as inefficient, indirect, and even dishonest, while the Chinese see western negotiators as aggressive, impersonal, and excitable. Such perception has deep cultural origins. Yet those who know how to navigate these differences can develop thriving, mutually profitable, and satisfying business relationships. The Chinese cultural threads are shown through the way of negotiation. Cultural threads are like agrarianism, morality, and wariness of strangers. Most western business people often find these elements mysterious and confusing but ignoring them at any time during the negotiation process and the deal can easily fall apart. Culture and Business Hexter and Woetzel 2007 The culture and government of any country could have a significant effect on businesses and China is no exception. Today in China western companies find that the government is quite different. Past of the reason would be that in the last 25years, China has passed more than one thousand laws and regulations related to commerce and distribution, limitation of foreign businesses have been relaxed . Allowing private and foreign enterprise to join and merger with local Chinese businesses or even as wholly owned foreign enterprises in most industries. This approach is most welcomed from MNCs as a choice of entering as mention above. Government also has established the necessary legal codes for mergers and acquisitions (MA) of both state and private assets. In China the role central and provincial governments in the business sphere have become more defined, and decisions more open and transparent. The central government, for instance, today tends to exert more contro l over businesses earmarked for national development, such as high technology and aviation, less control over businesses such as consumer goods or food processing, where provincial and local governments with their growing economic clout compete to offer substantial investment to woo business opportunities. These remarkable developments mean that today western companies in China will find a clear, well-trodden path for almost every activity they may want to pursue. Foreign investment law is much better developed Nevertheless, western companies need to focus on their relationship with the government to achieve success has changed. However, in some ways this appears to be a dilemma. On the other hand, transactions occur, and the government is involved in every one all foreign invested business needs government approval and therefore government relationships must be maintained. The ability of a company to make future deals with the government rests on how well it executes the deals it has already made, including the service it delivers to customers and its ability to hit financial performance targets and thus return expected tax revenue to the government. Therefore, China has been more critical, then for western companies to work with central and local government on day to day basis to identify new opportunities. With more western firms in the field, and much greater competition among foreign -based and domestic companies on the ground in every sector, government has almost no choice but to ado pt more routine processes to manage access. The average CEO will find it much more difficult to see the minister in Beijing nowadays. Conclusion In conclusion doing business in China involves many challenges but also provides many rewards. Challenges include cultural misunderstandings, consumer diversity, and the vast size of the country. However, China is a unique business environment The world is expanding and China in its own way has received in an influx of international companies. Western company in their own way have influence the Chinese way of business, its national culture and identity remain steadfast. Their culture is embedded in the way they do business and management style. But its uniqueness and characteristics is what westerner companies face as a major challenge till today. Multinationals organizations seeking investment opportunities find this an enormous task of researching into the Chinese corporate culture. Now many western companies have recognised the need to under the corporate and local culture than persist in China. ( Pang, 1998) In previous years possessing qualities like guanxi was highly valuable but today with the changing atmosphere having high influence would be more beneficial. Finally if western companies aim to be successful in China they must radically improve the way they execute in the country. High performance is difficult in a country with high competition therefore western companies must increase they scope, maintain high/ quality productivity. They should adapt global managerial practices to the realities of Chinese context (Harvard business review 2004, p 171) not forgetting to embed also the Chinese rules and elements. Companies could always tumble in how they execute tactic and approach in china. The wrong tactics or bad execution of good strategy has terrible consequences. But good tactics and execution on the level that western companies would accept of their operating managers in competitive developed market is exceptional in China, even harder to define. Until now many multinational did not need to focus as relentlessly as executing to world class stands in their china operations as they did in other market. Western companies would urgently need to improve performance is nearly every aspect of their operation in china, if they are going to be profitable in the short or long run and indeed if they are to survive in china. In addition other relevant elements would be securing government permission to enter the market, picking the right joint venture partner and then selling existing brands at premium prices in the right cities to right customers. Time and time have shown that those who make smarter choices about joint venture partners like coca cola, brands cities and distribution networks tends to fair better than rivals. Moreover the reforms in the government and plans to use the WTO entry requirements to force the domestic reforms. many believe will make Chinese firms competitive internationally in the coming decades. So in a remarkably wide range of sectors, western companies must now think seriously about their ways in China and those of their current and potential competitors that are likely to affect their wider future global opportunities To be sure, China will remain an exceptionally challenging environment. It is a country with inadequate legal protections, rampant intellectual property right violations, massive government interference, and severe price competition from state subsidies firms. However Beijing desire to expand the service and private sector, combined with its willingness to allow foreign firms to compete nearly across the board, means that the china market is ever changing and now becoming a real opportunity just as the purchasing power of Chinese consumers is beginning to increase. Western companies should try to try this into their advantage just like Ikea has done in china. Entering the Chinese market in 1998 as an EJV, with a low pricing strategy and today has captured 49 % of the furniture market in china. Although as they say patience is a virtue, Ikea had waited for 10 years before its success came in the Chinese market. In the near future China is likely to remain the worlds fastest growing major economy therefore western companies should turn the situation into their advantage and gain global market share while the sun shines.

Effects of Globalization on Business

Effects of Globalization on Business Introduction Globalization indicates to the entire exertion towards making the world worldwide group as a one town. Products that were just found in western nations can now be found over the globe. Presently immature ranges can appreciate the advantages of experimental advances and mechanical advancement accessible in created nations for the change and development of their regions. Because of globalization the economies of the world are as a rule progressively coordinated, illustration cellular telephones and web have brought individuals closer. The world is turning into a littler spot. Work can be outsourced to any piece of the world that has a web association due to changes in activity base one has the capacity achieve one's destination in a brief while. Globalization can likewise be characterized as a progressing process by which local economies, social orders and societies have ended up coordinated through a globe spreading over system of correspondence and exchange. The procedure of globalization incorporates various variables, which are fast innovation advancements that make worldwide interchanges conceivable, political improvements, for example, the fall of socialism, and transportation advancements that make voyaging speedier and more continuous. For sure, globalization has positive and negative effects on business, education and society. Below are discussed briefly about the effects of globalization on business. Globalization increases the competition among the international companies No wonder that globalization is very effective in the right time and the exact place when activated according to the proper mechanism. It plays an effective role in the competition between many companies. Now, it is easier if you are in China and selling your products in the US market. Here is the sense of competition. A standout amongst the most noticeable beneficial outcomes of globalization is the enhanced nature of items because of globe competition. Client administration and the 'client is the ruler' ways to deal with generation have prompted enhanced nature of items and administrations. As the local organizations need to battle out outside competition, they are constrained to raise their guidelines and consumer loyalty levels to make due in the business. In addition, when a worldwide brand enters another nation, it comes in riding on some goodwill, which it needs to satisfy. This makes competition in the business sector and a survival of the fittest circumstance. The beneficial outcomes of globalization on society are numerous! Not every great practice were conceived in one human advancement. The world that we live in today is a consequence of a few societies meeting up. Individuals of one society, if responsive, have a tendency to see the defects in their way of life and get the way of life, which is more right or tuned in to the times. Social orders have ended up bigger as they have invited individuals of different human advancements and foundations and made an entire new culture they could call their own. Cooking styles, dialects and traditions have spread all because of globalization. The same can be said in regards to motion pictures, musical styles and other fine arts. They too have moved starting with one nation then onto the next, leaving an impact on a society which has embraced them. Globalization can lead to high investment in the world One of the major attribute is the high and intensive market investment domestically and globally. Globalization plays a massive role in encouraging investors to give in their capitals in order to gain higher and expandable revenues. A standout amongst the most noticeable constructive outcomes of globalization in India is the stream of remote capital. A considerable measure of organizations have straightforwardly put resources into India, by beginning generation units in India, yet what we likewise need to see is the measure of Foreign Investment Inflow that streams into the creating nations. Indian organizations, which have been performing admirably, both in India and off the shores, will pull in a considerable measure of remote investment, and subsequently pushes up the store of outside trade accessible in India. This is likewise one of the beneficial outcomes of globalization in America and other created nations as creating nations issue them a decent investment suggestion. Administrators' targets may not be the same with those of stockholders in a few circumstances. The more perplexing the partnership the more troublesome it is for shareholders to screen administration's activities whereby it gives the administrators more flexibility to act in their own self enthusiasm to the detriment of shareholders. Multinational firms are more unpredictable than national firms are. Supervisors may support global enhancement because it diminishes firm particular hazard or adds to their glory. These objectives may be of minimal enthusiasm to shareholders. This dissimilarity of hobbies in the middle of shareholders and chiefs may lessen the estimation of multinationals with respect to residential firms. Globalization can help company open new branches in new branches in the world For sure, globalization has been the key factor recently in the last few decades. It all started in the late years of the past millennium where big developed countries called for globalization. The markets are now open and extremely expanding. The sole company can be operating in many markets around the world. As a small business owner, you can start domestically and later open branches in the very close future in different countries. This way you are making extra profits and a global admired brand. With the existence of internet and satellite, people are no closely monitoring the best products in terms of quality and affordability. Now also you can do your shopping online from the Far East countries and receive it at your doorstep. Best developing markets in created nations are an aftereffect of privatization of state claimed commercial enterprises. All together for these commercial ventures to expand customer interest a significant number of them are endeavoring to grow and extend their worth bind to a universal level. The effect of globalization on business administration is seen by the sudden increment of number of exchanges over the outskirts. In ensuring yields and looking after intensity, businesses are keeping on developing an extensive variety of their foot shaped impression as it brings down expense and appreciates economies of scale. Multinational partnerships is a consequence of globalization. They possess a focal part inside the procedure of globalization as confirm through worldwide remote direct investment inflows. Their fixations inside Europe in western economies has prompted size limitations, thusly there is a requirement for new topographical ranges to work whereby they will confront a considerable measure of competition in the business sector. Through this they will augment their business sector and appreciate economies of scale as globalization encourages time space pressure, economies contend at all levels including that of pulling in financial specialists. Conclusion To sum it up, globalization has the marvelous positive effects on business in terms of flexibility and free trade between countries and markets. Considering every one of these components, it can be inferred that globalization has positive effect on business advancement for a few reasons. These elements incorporate expanding competition that brings down costs and expand nature of items. The following is expanded investment opportunities, which prompt quicker advancement of business. In conclusion, it offers access to the new advancements that can support to businesses to get higher benefit. It is accepted that globalization is an advancement, which is not going to be ended, and this procedure presumably will keep on widening.

Trends In Economic Botany: The Rising Use Of Herbal Supplements :: Botany

Trends In Economic Botany: The Rising Use Of Herbal Supplements The use of herbal remedies to treat health problems in humans is a tradition that dates back many centuries. A precursor to modern, Western pharmaceuticals, traditional healers used herbs to treat a wide range of ailments and afflictions. While many are familiar with their use by American Indians, the practice of herbal therapy dates back to ancient Chinese and Egyptian healers. Herbs were used in ancient times to treat anything from headaches (with willow bark tea, now an active ingredient in aspirin) to fever and premenstrual syndrome (with chamomile). In an age of modern pharmaceuticals and their ready availability in Western culture, it is easy to forget that approximately 40% of today's modern medicines are produced with chemicals derived from plants (Counter 1998). In a trend reversal that has the modern medical community alarmed and puzzled, the sales of herbal remedies in the Untied States has increased dramatically. Traditionally, Europe has been the largest market for herbal remedies, accounting for 45% or $7.5 billion in sales for 1997 (Scimone and Scimone 1998). Within Europe, Germany dominates the market with sales of $3.6 billion, followed by France ($1.8 billion), Italy ($800 million) and the United Kingdom ($300 million) (Scimone and Scimone 1998). Growth in the European market was predicted to be 5-10% in 1998-1999 and 15-20% in 1999-2000 (Scimone and Scimone 1998). The European market has become solidly established over the past 80 years, with a modest growth rate until recent years that has shown another upward trend. The United States market is a completely different story. The herbal industry has "evolved exponentially over the past two years, with significant entry into the mass market within the past two years" (Botanicals International 1998). Sales of herbal supplements reached $4 billion in 1998, up from $1.6 billion in 1994 , a rise of 250% (American Botanical Council 1998). Sales have been projected to increase between 50-100% in 1998-99 and between 20-25% in 2000-01(Scimone and Scimone 1998). What has caused this dramatic increase? While an editorial in the New England Journal of Medicine (1998) blamed this "reversion to irrational approaches" on "disillusionment with the often hurried and impersonal care delivered by conventional physicians", it is also viewed as the economic influence of the aging baby-boomers. As they have become older, this generation has become more health conscious and increasingly dissatisfied with conventional medicine in their attempts to diminish the adverse effects of aging (Brenneman 1999).

Descartes Failure Essay -- Philosophy Philosophical Essays

Descartes' Failure In his Meditations on First Philosophy, Descartes strives first and foremost to provide an infallibly justified foundation for the empirical sciences, and second to prove the existence of God. I will focus on the first and second meditations in my attempt to show that, in his skepticism of the sources of knowledge, he fails to follow the rules he has set out in the Discourse on Method. First I claim that Descartes fails to draw the distinction between pure sensation and inference, which make up what he calls sensation, and then consider the consequences of this failure to follow his method. Second, I will show that in his treatment of thinking Descartes fails to distinguish between active and passive thinking. Although he succeeds in showing that he is aware of thinking (and therefore at least a passive thinker), from which it follows that he exists, it is possible that Descartes[1] is no more than a passive thinker. I claim that Descartes successfully shows that he exists, that â€Å"there is thinking going on,† and that thereby â€Å"there exists a thinking thing,† but Descartes’ ‘thinking’ may only be a passive awareness of thinking; he may be separate from the active thinker required by the fact that there is thinking-going-on.[2] I will argue that if this is the case, then Descartes doesn’t have free will. Without free will, Descartes can no longer prove the existence of God. As the foundation upon which he re-establishes his knowledge of the world depends on free will then, if my claim is true, Descartes does not succeed in finding a solid foundation for empirical knowledge, nor does he succeed in his secondary goal of proving the existenc e of God. I. Pure Sensation and Inference ... ...ur being active thinkers can be doubted, but only from a third person perspective, for doubting, itself presupposes active thinking. I have chosen to be charitable to Descartes, and allow him those acts, such as doubting, that could legitimately be performed from a third person perspective, so as to avoid undermining his entire account. [21] Descartes Selected Philosophical Writings Meditations on First Philosophy, p93 [22] ibid. p92 [23] Putnam, p7 [24] This sounds a lot like Berkeley’s suggestion that objects in the physical world continue to exist although we are not perceiving them because they are being perceived by God. [25] I will not discuss this claim further here, due to the length of this paper. [26] Descartes Selected Philosophical Writings Meditations on First Philosophy, p79 [27] ibid. p80

Financial Planning Essay

1.How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas. Personal financial planning helps you create a stable future and improve helps create a stable future and improve your financial status by creating a plan that lets you save and invest your money so that it can start working for you. A comprehensive financial plan can enhance the quality of your life and increase satisfaction by reducing uncertainly about your future needs and resources. The advantages of personal financial planning can 1. Increase effectiveness in obtaining, using, and protecting your financial resources throughout your lifetime. Secondly, increase control of your financial affairs by avoiding excessive debt, bankruptcy and dependence on others for economic security. Lastly, improve personal relationships resulting from well planes and effectively communicated financial decisions. A sense of freedom from financial worrie s obtained by looking to the future, anticipating expenses, and achieving your personal economic goals. 2.Explain the life cycle of financial plans and their role in achieving your financial goals. Financial and personal satisfaction is the result of an organized process that is commonly referred to as personal money management or personal financial planning. Personal financial planning is the process of managing your money to achieve personal satisfaction. Every person, family or household has a unique financial position, and any financial activity therefore must also be carefully planned to meet specific needs and goals. To achieve these and other goals, people need to identify and set priorities. 3.Discuss the reasons for the changes in your goals and how you’ll need to adapt your financial plans as a result. For many families, one of the biggest sources of disagreements and aggravation is the subject of family financial planning. Before I became a mom I planned on just having fun, shopping all the time and taking road trips but the reason for the changes in my goal is because I have a daughter now I have to think about her and not just myself. Having control of my finances means a lot more than just getting control of money. It means getting a handle on my habits both thinking and spending as well as my short and long term goals. I need to  adapt my financial plans by building new habits, reducing stress, controlling my spending and aligning priorities. 4.How should you use this information to make personal financial and career planning decision? After reading the current and projected trends with regard to the GDP growth, unemployment, and inflation. I plan to finance wisely and not spend money all crazy without a care in the world. I have a family now and I don’t want my daughter to struggle like I have too. As for my career I plan to have short and long term goals. I don’t expect to stay in one field, I always had the mindset to where I want to expand and explore different career path. I know things happen and the economy can be pretty messed up and I don’t want to end up jobless and have to stress about finding a new job so I plan to go beyond the dream I am chasing. However, just in case I was to end jobless smartly financial planning is a good thing to do because I can have money already in the bank and be able to pay my bills without going into debt. No one likes to struggle because all it does is cause s tress and problems, so I plan to stay on the right track and that is continuing going to school and providing a stable life for my family.

Recent Stock Market Crash and Government Initiatives

And Government Initiatives for stabilizing the market Dear Sir Here is the report on â€Å"Analysis of Recent Stock Market Crash and Government Initiatives for stabilizing the market† which I have prepared as the requirement of completion of the ABA degree and the course BUS 498, Project Work. While making the report I studied the reasons of stock market crash of Bangladesh during 2010-201 land government taken initiatives to stabilize the market situation. I have come to know a lot of things about the practical scenario of the capital market in Bangladesh.The whole experience of this report writing enabled me to bridge the AP between classroom learning in my academic study in the university and real life situations to a great extent. I thank you and the University for providing me such an opportunity. Sincerely yours, ACKNOWLEDGEMENT For helping to making this project, at first, I would like to thanks the Almighty and My parents. I am grateful to the employees of broker house s who helped me in collecting data and other necessary information for this report. I would also like to thank my friends and relatives for their supports.I would like to express my respected appreciation to my instructor Md. Zulu Haze. His constant guidance and advice played the pivotal role in making this report a success. He always gave me his suggestions that were crucial in making this report as flawless as possible. The project report is prepared to fulfill the partial requirement of the ABA program. Regarding the outcome of this report, I would like to express my sincere gratitude, profound thankfulness and indebtedness to my honorable teachers of the Department of Business Administration.I must take this opportunity to thank Dacha Stock Exchange for giving me the opportunity to complete my project requirement ND gave me the chance to show my practicability in the organizational arena. Executive Summery This report is about identifying the causes behind the recent collapse of capital market in 2010-2011 and government initiatives regarding that. To identify the causes and effective initiatives requires plenty of time and informational resources. Due to shortage of that the report highlights on the principal areas of the topic. The whole report is divided into six chapters covering their own respective parts of the topic.Chapter one Contains the detailed information about the recent market crash n 2010-2011 and government initiatives for stabilizing the market. The chapter includes several segments such as origin of the report, background, rationale of the report, objectives of the study, scope and limitations. It describes the background of the capital market in our country in details. Chapter two report revealed the methods used in collecting the objectives of the report which are the causes of the market crash and government initiatives regarding that. Primary and secondary data sources are used to complete this report.The chapter shared the direct op inion and ideas of he investors and informational data from Journals, paper articles and websites of the capital markets about the catastrophic incident of the capital market. The third chapter of the report provides an detailed description about the capital markets of Bangladesh and its history, Dacha stock exchange (DEEDS) and its missions, objectives and functions, Chitchatting stock exchange (CASE) and its vision, mission and objectives & an overview of Bangladesh securities and exchange commission (BASE) have been given consecutively.DEEDS is the present form of former east Pakistan stock exchange. It is the largest capital market of the country. CASE is known as the pioneer of modern capital stock exchange in the country. The mission DEEDS & CASE is to create a successful well-organized and transparent market of international standard to facilitate the competent entrepreneurs to raise capital and speed up industrial growth for overall benefit of the economy. So that Bangladesh can be a perfect investment ground for the domestic and foreign investors.The prime objective of the DEEDS & CASE is to create a nation-wide stock market also beyond the national boundary. The activities of DEEDS and CASE are regulated by the Bangladesh securities exchange omission. Beech's mission is to protect the interests of securities investors, developed and maintained fair, transparent and efficient securities markets, ensure proper issuance of securities and compliance with securities laws. This chapter discusses elaborately about these topics. Chapter four raises the detailed discussion about the capital market crash in 2010-2011.It highlights the December 2010 and January 2011 separately to explain the exact situation before, during and after the capital market collapse. There was an extreme disorder among the investors and law enforcers in the street. The government, regulatory bodies and BASE took immediate steps to minimize the losses of the investors and regain the st ability of the capital market. A committee of four members had been formed to find out the reasons behind the catastrophic incident.The committee submitted the report identifying the reasons which are role of market regulators and their employees, demutualization of exchanges, uniform face value of shares, trade in pre-pip placement, misuse of omnibus accounts, faulty asset revaluation, irregularities in book building method, lack of knowledge of small investor, December closing of financial institutions, serial ND artificial trading, issue of right and preference shares, suspicious transaction of top players, block placement and direct listing.The fifth chapter of the report explains the necessary steps taken by the government to overcome this recent catastrophe in stock market.In order to bring stabilization in the capital market government has taken some initiatives such as increasing the merging loans,relaxing the maximum limit of merchant banks investment starting netting syste m once again,altering mutual fund rules, introducing circuit breaker on the capital market index ,enforcing disciplinary measures against illegal activities,reviewing the transparency in transaction through Boo accounts etc. Chapter six consists of the recommendations which are stated to make the capital market more stable. He major recommendations are all the parties have to work perfectly, government can improve its guidelines for stock market, the decisions regarding the market should be taken considering behavioral psychology of the investors, in order to make the market more attractive, the corporate tax bracket can be lowered in order to encourage pompons to list their companies in the exchanges, the regulatory bodies' frequently changing policy and rules that is not good for the market stability, at the initial stages of stock market development, appropriation of state owned enterprises can make a signification contribution, regular TV and radio program should be made on deve lopments and other topics relating to the stock market to make the investors aware etc. The study has attempted to find out the major reasons for the recent stock market crash of Bangladesh in 2010-11 and role of different regulatory organizations including DEEDS, CASE, SEC and the government of the country. A number of reasons for the stock market crash have been identified. Though many causes were identified, few factors emerged stronger in the recent stock market crash.The causes includes over exposure of banks and financial institutions, poor monitoring of regulators, corrupted employees of regulatory organizations, margin loan, direct listing, insider trading, book building, lack of general investor's knowledge, imbalance of share and intervention of Bangladesh Bank. Other reasons, mentioned in discussion section were also liable for the crash. It also tries to suggest regulatory organizations to follow the recommendations to stabilize the capital market more efficiently.