The state of the real estate market in UK Essay

The state of the real estate market in UK - Essay Example This essay discusses that in the UK, the cost of paying rent went high. With this, demand for rental houses also escalated. A great percentage of investors joined in the real estate business with the expectation that they will amass a lot of profits from the business. The amount of rent went high at an alarming rate with the number of investors increasing. Baum & Hartzell indicate that the amount of supply for real estate as at 2010 was very low. On the other hand, CML indicates that in the year 2010, the real estate business was booming and was very profitable at that time of the season. According to business analysts, this kind of scenario is referred to as a profitable mix, an inclusion of both demand and niche in the supply. In relation to the failure of the real estate business, this concept has a great correlation with the increase in the need to create a supply chain for the increase in demand by the tenants. With the rent yielding a lot of profits, the market experienced an i nflux of entrepreneurs in the business of real estate markets. With time, the real estate became flooded with a lot of people claiming a piece of the market. At one point in the businesses, a good number of entrepreneurs were wiped out of business. This led to a decrease in the number of investors in the business due to the tough competition. At the end of 2010, the business faced a lot of challenges and was not considered profitable at all. This is a major indicator of the reasons the real business declined. 2.2. High building rates Despite the increase in population in UK and the number of willing investors in the real estate business, the building rates still remain high. The international standards, according to FSA (2009), did not meet the booming prices in the period of 2010, since the building regulations were extremely high. On the other hand, the population in UK was rising at a high rate; thus, alteration in the household sizes. Just like indicated earlier, it is the need to fulfill the demands of the market that led to an increase in the supply of the real estates. However, in the period of 2010, less people invested in the business during the economic recess. The returns from the business were extremely high to an extent, that the government recorded a deficit in the number of houses; thus, researchers and made a recommendation through the Town Planning Council that over 200,000 houses must be built so as to cover the increase in population. Donald & Mc Millen (2010) indicate that by the end of 2010, the real estate had recorded a deficit of around one million houses, a clear indication of the fact that investors had backed out for a more profitable business. On another angle, the amount of credit offered to the real estate businesses decreased to a great extent, rendering many businessmen with no other option but to get out of the market. With this in mind, Great Britain: H.M. Treasury (2010)

The economic Miracle Essay Example for Free

The economic Miracle Essay I. The Economic Miracle A. Economic Growth Between 1945 and 1960 economic boom occurred nearly uninterrupted, GNP went increased 250% from 200 bill to 500. Unemployment and inflation remained low. Gov smpending which started during depression continued, public housing, schools, vets etc. Economic growth was at peak during early 50 during Korean war, military spending also peaked. Birth rate went up baby boom peaked during war in 1957. Increase 20% 150 to 179 million, caused economic expansion. Suburbs also expanded helped expand some sectors of economy. Privately owned cars doubled, new homes, housing industry. Economy grew 10x faster than population, but not evenly distributed. Americans had increased purchasing power and highest standard of living than any other civilization in world. B. The Rise of the Modern West West saw greatest changes as result of economic growth. Population, cities flourished, no longer appendage of east. By 60s parts of west were important cultural, industrial centers. West saw most of government spending, dams, powerstations military contracts to California and Texas. Automobiles caused increase in oil fields which made cities in Texas grow. States gov invested in state universities for research, made them among the best in the nation. Dry warm climate attracted people. Los Angeles had increase in new businesses, population increase 50 % from 1940 1960. C. Capital and Labor Labor unions increased so much that they were no longer intimidated by large corporations, leader made important concession to them, $80 week salary. AFL and Coingress of Industrial Organization merged under leadership of George Meany. Many Unions would gain so much power that they became corrupt, i. e. Teamster Union under David Beck, would be charged by gov. United Mine workers also had charges of corruption. II The Explosion of Science and Technology A. Medical Breakthroughs 20th century so more medical breakthroughs than any other, especially in antibacterial drugs. Antibiotics stemmed from Louis Pasteur and Jules Joubert in 1870s France, thenJ Joseph Lister who proved antiseptic solutions prevent infection in surgery. Then sulfa drugs in the 1930s used in France, Britain, and Germany against blood diseases. In 1928 Alexander Flemming accidentally found antibacterial props of penicillin. Oxford refined the potency of it but availability would not reach all of England till after WWII, mass production would start around 1948 around world. Vaccines against viruses also increased. Tenetanus vaccines Tuberculosis. Progress on viruses were slow except small pox. 1954 Jonas Salk introduced vaccine against polio, gov offered to public for free. By 60s vaccines had been virtually eliminated. Death rate in kid decline and average life expectancy increased to 71 years. B. Pesticides In 1939 Swiss chemist, Paul Muller discovered DDT, harmless to humans, toxic to insects. Americans learn about this in 1942 as soldiers were coming down with insect borne diseases like malaria and typhus. DDT became widely used first in Italy, people thought it was miracle chemical. Later on pacific islands where US was fighting Japs. Cases of malaria decline sharpley, it wasnt for a while that they realized it was toxic to humans and animals. C. Post war electronic Research Researchers in the 40s developed first commercially sound televison. RCA developed first color TV which became available in early 60s. IN 1948 Bell labs developed the transistor which would replace the vacuum tubes which were in most electronic devices. TVs, radios, avaiation equipment were all smaller. Also developed integrate circuitry which made it possible to combine diodes, resistors, transistors into microscopic device. Led to development of computer. D. Postwar Computer Technology First computer were meant for complex mathmatics like those used to break military codes. Then began use in commercial business area. The UNIVAC was able to handle numbers and letters and had tape storage, could do functions faster than predecessor. To gain publicity for computer outside census market, makers of UNIVAC predicted results of 1952 election for CBS. That night was first time that many Americans became aware of computers. Remington Rand could not market the UNIVAC but new company, IBM marketed successfully computer to US business and abroad. Invested heavily on research and development. E. Bomb, Rockets, and Missiles In 1952 US detonated fist Hydrogen bomb 1 year later soviets did same, H- bomb used fusion rather than fission, and were more destructive. Development of these bombs led to rocket development, to launch bomb with out use of airplane. US benefited from the emigration of many German scientists who helped develop rockets in Germany. Soviets and US struggled to build long range missiles that could cross continents, ICBMs. Fuel was a problem, they would eventually switch to solid rather than volatile liquid fuel. Miniature guidance systems also helped guid to more precise targets, and known as minutemen. They could travel several thousand miles. US also developed the Polaris submarine missile, which after launched turned on engines after it left water, it was first launched in 1960. F. The Space Program. American space program mainly developed to rival to soviet one. When news came that the Sputnick had been lauched in 1957, people and gov. were alarmed, thought of it as an American failure. Gov. started investing in scientific education in schools and more research in labs, US launched Explorer I in January. US attention then shifted to manner exploration and created NASA. First efforts was the Mercury project, sent Alan Shepard in 1961 into space, but this came months after Yuri Gagarin, a Russian who orbited the earth. In 1962 John Glenn woukd become first American to orbit earth. NASA would later develop Gemini program, 2 seater space craft. These programs were followed bu Apollo, program to land men on moon. After catastrophic setback in 1967, Neil Armstrong, Edwin Aldrin were first men on moon in 1969. Last mission was in 1972 after which funding and enthusiasm dropped. Focus shifted from exploration to easy access into near space, out of this came the space shuttle, first launched in 1982. After explosion in 86 resumed in 88. Used to send satellites, telescope, service labs. Helped the aeronautic industry and led to developments in other technologies. II. People of Plenty A. The Consumer Culture Middle class during 1950s became more aware of consumer goods. This was due to consumer credit increasing 800%, because of credit cards, and easy payment plans. Products like TVS, dishwashers, garbage disposals, and dishwashers became more common. Automobiles were becoming more stylish. Consumer goods craze was fueled by advertising. Disney tv show, Mickey Mouse Club gained popularity and promoted success of Disney land. Disney used entertainment for marketing consumer goods. B. The Suburban Nation By 1960 1/3 of population lived in suburbs, as single family houses were becoming more affordable. William Levitt was most famous of the developers and had large scale construction in Long Island, homes sold for under $10gs. Americans placed higher value on family after war, when families were reunited. Homes outside of city were larger and cheaper more privacy, scurity space for goods and appliances. Suburbs were mostly white as most blacks could not afford the homes. Whites fled to escape integration. C. Suburban Family Professional men had division in work world and family life. Increased emphasis on family life reduced women role in work place, they were encouraged to stay at home with children by popular books. Despite this for many families to enjoy the goods they craved, a second income was necessary, causing working women to increase in post war years. 1960 1/3 of married women had jobs. D. The Birth of Television The television was a scientific breakthrough but became more of a cultural one. After WWII its growth was phenonmenal, 40 million set in us, more people had tvs than refrigerators. TV programming based on attraction of advertisers. Many shows were written and produced by the company itself. TV new replaced radio, newspapers and magazines as the major news source. Professional sports and college sports became very popular and largest businesses in the country. TV shows reinforced concept of Gender roles in family. Shows created idealized image for Americans. E. Organized Society and Its Detractors White collar workers out numbered blue collar workers. American reacted with hostility to large scale beuracracies. Many books were published by sociologists analyzing the role of men in society and how their thinking has changed F. The Beats and the Restless Culture of Youth A group of young poets and writers emerged known as the beats who criticized the conformity and sterility of American culture. Jack Kerouac most famous out of the movement wrote popular novel called, On the Road. Beats had ideas stemming from limitless possibilities, and decline of traditional values of thrift. Young Americans were being raised in a new type of culture to expect fulfilling lives. 1960s saw a major increase in juvenile delinquency. Adults were alarmed at how teenager were dressing more like the image of the delinquent teen, adopting hobbies in fast cars and more sexually active due to birth control. James Dean an actor portrayed this image in real life and in film, was an icon for many teenagers in America. G. Rock n Roll Elvis Presley became a symbol of youthful determination to push boarders of acceptance. Had rebellious style which imitated the biker look. Presleys music was derived from rhythm of black RB which appealed to young whites. Rock n roll also pulled from country music, gospel, and jazz. The rise of musicians like Pres;ey could have come from the publics lack of acceptance of black artists. But the 50s did see increase in balck musicians also, Temptations, Little Richard, BB King. Popularity of new music style came from change in radio and television programming. Radio Hired DJs for stations dedicated to music programming. TV shows, showcased the new music and spread its popularity, and made Dick Clark famous. Radio and tv encouraged record sales. Juke boxes, and 45s promoted rock n roll as well. Music promoters were caught in a scandal when new hit public that they would pay djs to play music. III The Other America A. On the Margins of the Affluent Society In 1962 Michael Harrington brought attention to poverty in America with his novel, The Other America. After expansion in post war years, 1/5 of Americans were below line of poverty, many million more just above. 80% who were poor experienced poverty intermittingly, included 1/2 elderly population, black, Hispanic natives were pooerest group. Many believed the general increase in prosperity would bring all people out of poverty, this was wrong. B. Rural Poverty Farmers were receiving less and less percentage of the national income. Though not all farmers were poor most had impovershied life style. All ethic groups, blacks, migrant Mexican workers, Asians, all suffered an subject to malnutrition and starvation. C. The Inner Cities As white gained wealth they moved to outer city. As cotton economy became mechanized blacks moved into inner city ghettoes. Not all were poor, but it was harder due to historical patterns of racial discrimination towards them. 3 million blacks move from rural south to industrial north b/w 1940 -60. Puerto Ricans and Mexican migrated heavily, Puerto Ricans mainly to new york, Mexicans to texas and California. Factory owners moved to places where labor was cheaper, making it hard for people to find jobs of unskilled labor. With inner city poverty came more juvenile delinquency. IV The Rise of the Civil Right Movement A. The Brown Decision and Massive Resistance. In 1954 in Supreme court made decision that segregated schools was unconstitutional, over turned the Plessy vs. Ferguson decision. The following years they set forth rules for implementing the decision. Southern members of congress came up with the manifesto in defiance to the supreme court decision. By 1957 only 684 of 3,000 school were in compliance. Eisenhower at first was reluctant to join the desegragation movement but when Central High School of Little Rock was in direct defiance of federal order, Eisenhower sent federal troops to keep peace. Even governor Orval Faubus neglected Eisenhowers decision. B. The Expanding Movement The Brown decision sparked challenges to other form of segregation. Rosa Parks in 1955 refused togive up her seat to a white person on a Montgomery bus. She was arrested but the incident inspire other blacks who started a boycott. The Boycott put economic pressure on bus companies and downtown stores as black would shop in their own neighborhoods. A 1957 supreme court decision made segregation in public transoort illegal. From the boycott emerged Dr. MLK who was a powerful orator and new leader of nonviolent movement against segregation. C. Causes of the Civil Right Movement. Millions of blacks fought in the war or worked in war factories. From this they gained a better knowledge of the world and their place in it. The urban black middle class also began to grow, as did enrollment in black universities and schools. They became more aware of the obstacle to their advancement from poverty and oppression. Television made blacks more aware of the life style they were excluded from and spread inspriration for protests. The cold war made whites realize that they could not be model nation if their was segregation. Blacks in north also had power in democratic votes which made politicians listen to their needs. Black labor unions also helped support for movement. V. Eisenhower Republicanism A. What was good for General Motors Eisenhowers administration was staffed with business leaders of the community. Many of which reconciled themselves to the New Deal. He appointed wealthy lawyers andbusiness exec. To his cabinet. Charles Wilson president of General Motors vauched for a sec. Of defense by saying what was good of the country was good for g. e. Eisenhower reduced federal spending and encouraged private enterprise. Discouraged programs of national health insurance. By end of his term had $1 billion in surplus. B. The Survival of Welfare System Eisenhower resisted efforts by right wingers to dismantle manypolicies of the new deal. He extended social securityto 10 million more people and unemployment compensation to 4 million more. Raised minimum wage to $1. Built 40,000 miles of highway. In 1956 election would beat Stevenson in another landslide, one year after heart attack. C. The Decline of McCarthyism Eisenhower admin. did little to discourage the anticommunist movement, but by 1954 it started to die down as senator Joseph McCarthy went into political demise. McCarthy would attack the arm services in a nationally televise investigation. The investigation flopped and made him look like a villan, senate would vote him out and would die 3 years later. VI. Eisenhower, Dulles, and the Cold War A. Dulles and Massive Retaliation Sec. Of Defense Dulles was against Trumans containment policy, he wanted to liberate communist countries. However had to cool his ideas to the presidents view. The massive retaliation policy was to repond to communist threats by relying on nuclear weapons. The reliance on atomic weapons would bring more bang to the buck as many advocates put it. B. France America and Vietnam In 1953 a treaty was signed to end hostilities, each country would withdraw troops 1. 5 miles from 38th parallel the original boarder of the 2 countries. A conference was to be held in Geneva to discuss how the two countries would be reunited but no agreement was reached. During the same time France was trying to restore authority in vietname which was taken during WWII by Japs. They were opposed by the Ho Chi Minh who wanted indpendance and thought US would help, however were nationalistic and communist. France was a major Cold War allie and US would stick with them. Ho was getting aid from soviets and Chinese. US was paying for French military operations. In 1954 12,000 troops were surrounded, despite Nixon and Dulles advice Eisenhower did not want to intervene yet. France agreed to settlement in Geneva conference. North of 17th parallel was controlled by Ho Chi Minh, below was pro democratic/ US government led by Dinh Diem. US promised support against attacks from the north. C. Cold War Crisis IN 1950s the US foreign policy rested on revised containment policy, Eisenhower would react to many imagined and far flung crises. He became involved in Middle East after Isreal proclaimed independace, he acknowledged them the next day. Palestinian Arabs still inside country thought of as their and would fight in frist of several wars in 1948. US had major investment in Middle East because of its oil. When prime minister of Iran began resisting presence of Western corporations, US was alarmed, they would help stage coup and elevate the Shah of Iran. When Egypt began trade with soviets, Dulles reacted by saying US would not help build Dam across Nile. Nasser, leader of Egypt reacted by taking control of suez canal from Britain. France and Britain landed forces to drive out Egypt as Israel attacked Egypt. US fearing another world war denounced the situation with the UN. US controlled much of the island of Cuba. In 1957 a resistance movement against leader Batista led by Castro made him leave country as Castro marched in and established his own government. Castro would begin taking assistance from soviet union, US would react by cutting diplomatic relations. D. Europe and the Soviet Union Eisenhower admin would meet with Soviet foreign relations in Geneva but nothing good would come out of it. Relations b/w countries would worsen when a pro-democratic Hungarian Revolution was crushed by soviets. US did not want to intervene. E. The U-2 Crisis Nikita Khrushchev, new soviet premier would suggest that they visit each other country and then in Paris to discuss Berlin. Eisenhower agreed. During the conference in Paris, new came the Soviets shot down and held the captain of a U-2 plane flying over Russian air space. Khrushchev would call off the conference. At the end of his term tensions with Soviets were even higher. In his farewell speech he warned of unwarranted influlece andand cautioned against domestic and foreign affairs. And said US should act more boldly. VII. Conclusion The 1950s was prosperous time for most of America, as people moved in larger home in the suburbs and families had more children in a post war baby boom. After Korean War, the Eisenhower administration brought calmness to the white house. Television was the largest medium of mass culture, spreading middle class images and traditional values. A resistive youth culture also emerged. Blacks escalated their efforts remove segregation with emergence of new powerful leaders and help from supreme court.

Use of the Epigraph in George Eliots Middlemarch Essay -- Eliot Middl

Use of the Epigraph in George Eliot's Middlemarch The epigraph is an unusual, though not uncommon, form of citation. It is a part of the text yet distinct from it. White space and specialized formatting, such as italics, separate the epigraph from the main text, thereby challenging the reader to determine the relationship between the two. Unlike a typical quotation, which dwells in the midst of the text, illuminating one point in the argument, the epigraph's unique positioning prior to the body of the text highlights particular ideas, words, or images and thereby guides the reading of the entire argument. In essence, its shadow falls across and affects the reading of the text it precedes. This shadow looms large because it is formed not only by the body of the epigraph but also by the scholar, philosopher, or poet, and textual source from which it is taken. Like all citations, the epigraph creates an intertextuality and a dialogue with another author. The heuristic function of the epigraph may seem relatively simple when looking at a journal article that begins w...

Analysis of Motives and Prospects within the OLI Framework: A Case Study of German FDI in China

Abstract This study deals with an analysis of German FDI in China using the OLI framework, an eclectic framework for analysing FDI. Other theories that aid in explaining German FDI’s motives and prospects in China are the internalisation theory and the product cycle theory. This study is mainly qualitative, using secondary data from existing literature. It suggests that German FDI is guided by internalisation advantages, location-specific advantages, and ownership advantages in its motives and prospects in the Chinese market. The internalisation advantages for German FDI in China include incentives derived from conducting such FDI in the country over other locations or through exporting. Location-specific advantages are identified as cheap, trained labour, export-oriented nature of existing FDI, quality of local infrastructure, access to natural resources, and cooperation agreements with local suppliers and the Chinese government. Ownership advantages, on the other hand, are identified as technology-based infrastructure and management know-how. Introduction This report deals with the analysis of motives and prospects within the OLI framework, focusing on a case study of German foreign direct investment (FDI) in China. To begin with, it is important to define and describe what the OLI Framework is. The OLI framework was developed by Dunning (2010) and is considered an eclectic approach to the study of FDI. It has been a guaranteed viable means to think about MNEs, which likewise paved the way for a range of applied works in economics and international business. Albeit it does not constitute a formal theory in itself, the OLI framework is nevertheless helpful in classifying many recent empirical and analytical studies concerning FDI (Reinert et al., 2009). Foreign direct investment (FDI) has been an important characteristic of globalisation. It is different from portfolio investment since it involves a package of assets and intermediate products and is generally carried out by MNEs (Blanco and Razzaque, 2011). Germany is China’s mo st important trade partner from Europe. In 2003, German companies were placed as the top European investors in China and were ranked as the seventh largest investors in the country. Albeit the ˆ7.9 billion investment of German companies in China comprised a tenfold increase from 1995, this only constituted 1.2 per cent of total German FDI. Most of these investors were manufacturing companies (around 2/3 of all German investors). Some of the pioneer German companies in China are Bayer, Siemens, and Volkswagen, which have been doing business with China for more than a hundred years (Reinert et al., 2009). China has large market potential as proved by about 76 million abundant consumers in the country, which is even larger than Germany’s total population. China is also characterised by low-cost assembly line, which serves as a major driver for investing in the country. Apart from it, its WTO membership has been an important driving factor behind German FDI, as WTO enabled ea sier access to China’s market (Bao, Lin, and Zhao, 2012; Reinert et al., 2009). The issues besetting German FDI in China are the unrelenting legal uncertainties in the country, as shown by the lack of intellectual property rights protection; limited market transparency; the rapidly changing regulatory framework conditions and obstacles; inadequate potential supplier networks; and difficulty in searching for relevant market information due to the problem involving the identification of individual market segments (Reinert et al., 2009). Potential German investments also face high input prices in China, such as high prices for raw materials and electricity, thereby making it all the more difficult to attain profit margins. There is also a rising competition in China in the midst of the growing attractiveness of its market. Given this context, this research intends to look into the intentions and outlook of German FDI in China, using the OLI framework to evaluate them.1.1 Objecti ves of the ResearchThe objectives of the research are described as follows: To analyse the German FDI in China in terms of its motives and prospects within the OLI framework; To describe the theoretical underpinnings surrounding German FDI activities in China; and To analyse how the OLI framework functions as a relevant model for the dynamic development of MNEs and German FDI within the increasingly growing Chinese market. Literature Review This part of the research report presents an array of published works relating to the topic of investigation to give light to the important concepts and to serve as evidence to the claim that may be posited. It also involves a description of methodology and data used.2.1 Methodology and Data UsedThis research is characteristically qualitative, which means that it is value-bound and relies on interpretations. It is predominantly inductive and is carried out in natural settings, discounting the use of quantities and measurements, which are confined within the domain of quantitative research (Klenke, 2008). This research also uses a case study method, which is described as â€Å"the study of the particularity and complexity of a single case† (Simons, 2009: 19), which in this report is the German FDI in China. Case study as this report’s research approach acknowledges the tradition in which it is drawn upon, specifically qualitative research (Simons, 2009). Secondary data a re solely used for this report. These are data that have been collected by a person (e.g. an author) and are being used by another (e.g. a researcher) for his/her own purpose (Oleckno, 2008). These data are therefore non-original. In this research report, they are mainly taken from books, academic journals, and relevant online resources relative to the topic being investigated. The search engines used to locate the needed materials are Google, Scholar Google, and Books Google, from which a number of sources have been uncovered. The journal articles utilised from these search engines are published by Wiley and Elsevier.2.2 Literature Review on the Motives and Prospects of German FDI in ChinaAccording to Zhang (2005), China’s location characteristics would help to understand and appreciate massive FDI in the country. The four determinants of China’s location-specific factors for the influx of FDI are its export-promotion strategy for FDI, its dominant availability of che ap labour, and export-orientation of FDI injected by the countries entering China. In the case of Hong Kong and Taiwan, unique links with China (the Chinese connections) are important determinants. The study uses a qualitative method and a case study design in dealing with the subject matter. Its applicability to the topic under investigation is seen in its direct focus on FDI in China and how China has flourished as a location for countries to engage in FDI. The limitation posed by the study is its emphasis in Hong Kong and Taiwan and does not include German FDI, which does not however mean that the study is already totally irrelevant. In the work of Chen and Reger (2006), German FDI in China has been described as one that has grown larger in size and of higher quality (alongside related technological activities), with long-term motives and broad market orientation. German FDI also seeks new markets and expands market shares within China. The authors second Zhang’s (2005) ea rlier claim for FDI determinants in China, such as cheap, abundant labour, and export orientation; and added some more, including China’s huge domestic market, access to natural resources, and enforced tax incentives. The research approaches used by the authors include a mail survey and a database analysis. The work is applicable to the present study because of its emphasis on the nature of German FDI in China. In a separate study by Pikos (2013), the author presents an investigation of the consequences of FDI for German companies in China. The author highlights the differences amongst the following: FDI in China, FDI elsewhere, and exporting. When size and sector activity are controlled, attributes to FDI in China include turnover, employment, net income, profit margins, and total assets, to name some. Albeit performance is boosted through FDI elsewhere, this is however on smaller scale. It is noted that investing in China results in better outcomes than doing FDI in another country, and this is due to China’s large and rapidly growing market. The methods used by Pikos (2013) are descriptive and econometric analysis in order to address the research topic. The applicability of the work to this research is its description of German FDI in China, thereby aiding the research to give light to the topic. A limitation of the study is its focus on location-specific factors for FDI. On the other hand, Zhang and van den Bulcke (1999) state that the expansion of FDI and its embodied technology are two of the key forces that molded the development of the Chinese automotive industry. Germany is an important source of inward FDI in China’s automotive industry, third to Hong Kong and the United States respectively. FDI in the automotive industry during the 80s was highly focused on the assembly of whole vehicles. In the 1990s, FDI became highly concentrated on the manufacturing of parts and components. Since the Chinese government in the 1990s had stric t control of the Greenfield investment projects for whole vehicle manufacturing, the latecomers encountered quite high entry barriers since dominant positions were already occupied by early movers. European automotive multinationals strongly influenced the restructuring of China’s automotive industry since the 80s. Moreover, China’s European car manufacturers have engaged in cooperation agreements with the Chinese government and local suppliers and often extend technical and financial assistance to local suppliers. An example of this is a 5-billion Chinese Yuan contribution of Shanghai Volkswagen for localisation funds (Zhang and van den Bulcke, 1999). The approach of Zhang and van den Bulcke’s (1999) study is chronological, mainly basing from existing secondary literature. The study is relevant and applicable to the topic under investigation as it provides useful and sufficient insights on the nature of the Chinese automotive industry and the chronological deve lopment of European FDI in the country, which can aid in analysing the current motives and outlook of German FDI in China. The research limitation is bounded within the study’s concentration on the Chinese automotive manufacturing industry. Analysis and Discussion The analysis and discussion provided for this research report is anchored on the literature review being carried out for German FDI in China.3.1 Analysis of German FDI in China Using the OLI FrameworkThe OLI Framework pertains to the three potential sources of advantage; namely Ownership, Location, and Internalisation, that lie beneath an organisation’s decision to enter into a multinational level of operation. Ownership advantages explain the reason/s why firms operate abroad whilst others do not, and indicate that successful multinational enterprises (MNEs) possess firm-specific benefits that enable them to overcome the costs entailed in operating in a foreign country. Location advantages, on the other hand, concentrate on the location aimed by an MNE (Reinert et al., 2009). Access to natural resources serves as a location advantage for choosing China for which to invest, as in the case of German FDI. Additional determinants of location selection for FDI are availability of cheap trained labour (e.g. Chen and Reger, 2006; Pikos, 2013; Zhang, 2005) and quality of local infrastructure (Tang, et al., 2012). Other critical factors are a smooth relationship with Chinese authorities, both central and local; and experience to cope with Chinese bureaucracy (Tang, et al., 2012). Such relationship is the bottom line for German FDI to engage in cooperation agreements with the Chinese government and local suppliers, as earlier highlighted by Zhang and van den Bulcke (1999). Zhang (2005) also highlighted in his work that China’s location characteristics would help to understand and appreciate massive FDI in the country. Internalisation advantages – another embodiment of the OLI framework – provide the influence on how a firm decides to operate abroad, making a trade-off between transaction savings and monitoring costs of a completely-owned subsidiary, on one hand; and the advantages of other forms of entry, such as joint venture and exports, on the other. A main characteristic of this approach is that it provides emphasis on the incentives for the individual firm. Mainstream international trade theory has considered this a current standard, which was not the case in the 1970s when FDI was classically regarded as an international movement of physical capital in pursuit of higher returns (Reinert et al., 2009; Taliman, 2007). The internalisation advantages embodied in the OLI framework are also found in the study of Pikos (2013) in the literature review, which magnifies the differences amongst conducting FDI in China, elsewhere, or through exporting, apparently aiming to ascertain the incentives that can be gained from choosing the most suitable out of the three options. The OLI framework is in fact an eclectic paradigm that provides a general theoretical framework for ascertaining firms’ FDI activities beyond their national borders. The eclectic paradigm is an analytical theory that accommodates other FDI theories a nd views most of the theories as having complementariness with each other (rather than having substitutability) of which their application can be fully enhanced (Tang et al., 2012). Internationalisation theory is one of the general theories of FDI, which views a MNE as an organisation that engages in utilising its internal market to produce products and distribute them efficiently in situations where a regular market encounters failure of operation. In effect, the internationalisation theory regards MNES taking on FDI activities abroad as a way to respond to goods and factor market imperfections, which have in fact prevented international trade and investment to operate efficiently (Tang et al., 2012). Through FDI, MNEs are able to produce and distribute their products via internal markets, thereby enabling them to optimise efficient production and improve the total profits. This notion must also constitute the motives and prospects for German FDI to conduct business in China. It mu st be noted that a MNE only employs FDI if the cost is outweighed by the benefits (Suneja, 2006; Tang et al., 2012). Worthy of note is the idea that in the lens of the internationalisation theory, knowledge, information, and research are intermediate products to be readily and directly traded to other countries due to the risk of loss of knowledge advantage (Rugman, 2002). However, MNEs possess vertical and horizontal integration, enabling the creation of their own internal markets, whereby intermediate products such as technology know-how are converted as a firm’s valuable property. This reflects the ownership advantage embodied in the OLI framework, as discussed by Reinert et al. (2009) and Taliman (2007). Hence, as the MNE sustains its competitive advantage, its ownership such as management know-how can be utilised and bolstered (Tang et al., 2012). The Uppsala Model looks at the internationalisation process as cyclic, experiential, and resource-based learning-by-doing, wh ich seems to foresee later research flows regarding dynamic capabilities and temporary competitive advantages with the internalisation framework (Sanchez and Heene, 2010). Based on the analysis, the internationalisation theory cannot in fact be seen as a separate body of thought from the OLI framework because it has a similar trail with such framework in relation to understanding the motives of a MNE (e.g. German firm) and its outlook to engage its FDI in a country like China. Meanwhile, the product cycle theory describes the so-called ‘wild geese flying’ patterns of foreign trade to explain the different economic development phases of countries. This theory cites three phases of industrial development with which each country attempts to elevate itself o the top phase of industrialisation. The theory says that the mature phase takes place once industrialisation development has been extensively laid down over the entire region or country with robust dynamic growth (Tang et al., 2012). It is interesting to consider that the OLI framework may be fastened over the product cycle theory in analysing German FDI in China, and that the relevance of the framework cannot be set aside when the chronological developments involved in the industrialisation process are taken into account. The applicability of the twin analysis of OLI framework and the product cycle theory is seen in Zhang and van den Bulcke’s (1999) study, which uses chronological discussions to describe the growth of European FDI in China, and cites the ownership-specific, location-specific, and internalisation-specific factors of European firms (e.g. German firms) to invest in the Chinese automotive sector.4. ConclusionThis research report deals with analysing the motives and prospects of German FDI in China within the OLI framework. The OLI framework is an eclectic framework that accommodates other theories of FDI and explains the intentions and outlook of MNEs to engage in FDI in China . The motives and prospects of German FDI to continuously seek to invest in Chinese market is propelled by internalisation advantages (e.g. incentives through conducting FDI in China rather than elsewhere or through exporting); location-specific advantages (e.g. cheap trained labour, export-orientation of FDI; access to natural resources; quality of local infrastructure; cooperation agreements with the central and local governments and local suppliers); and ownership-specific advantages (e.g. management know-how; technology-based infrastructure). The rapidly growing globalised market ushers the German FDI to continuously seek newer FDI prospects within China, beset by the growing competition and search for competitive advantages. References Bao, S., Lin, S., and Zhao, C. (2012) The Chinese Economy After WTO Accession. England, Ashgate Publishing Limited. Blanco, E. and Razzaque, J. (2011) Globalisation and Natural Resources Law: Challenges, Key Issues and Perspectives. Glos: Edward Elgar Publishing Limited. Chen, X. and Reger, G. (2006) The Role of technology in the Investment of German Firms in China. Technovation, 26 (3), 407-415. Dunning, J. H. (2010) New Challenges for International Business Research: Back to the Future. Glos: Edward Elgar Publishing Limited. Klenke, K. (2008) Qualitative Research in the Study of Leadership. Bingley, IWA: Emerald Group Publishing Limited. Oleckno, W. A. (2008) Epidemiology: Concepts and Methods. IL: Waveland Press, Inc. Pikos, A. K. (2013) German FDI in China: Consequences for Firms’ Performance (Published Thesis]. Denmark: Aarhus School of Business, Aarhus University. Reinert, K. A. and Rajan, R., Glass, A. J., and Davis, L. S. (2009) The Princeton Encyclopedia of the World Economy. Oxfordshire: Princeton University Press. Rugman, A. M. (2002) International Business: Theory of the Multinational Enterprise. New York: Routledge. Sanchez, R. and Heene, A. (2010) Enhancing Competences for Competitive Advantage. First Edition. Bingley, IWA: Emerald Group Publishing Limited. Simons, H. (2009) Case Study Research in Practice. First Edition. London: SAGE Publications Ltd. Suneja, V. (2006) Understanding Business: A Multidimensional Approach to the Market Economy. New York: Routledge. Taliman, S. B. (2007) A New generation in International Strategic Management. Glos: Edward Elgar Publishing Limited. Tang, S., Selvanathan, E. A., and Selvanathan, S. (2012) China’s Economic Miracle: Does FDI MatterGlos: Edward Elgar Publishing Limited. Zhang, K. H. (2005) Why Does So Much FDI From Hong Kong and Taiwan Go to Mainland ChinaChina Economic Review, 16 (3), 293-307. Zhang, H. and van den Bulcke, D. (1999) The restructuring of the Chinese Automotive Industry: The Role of Foreign Direct Investment and Impact of European Multinational Enterprises. Belgium: University of Antwerp. Analysis Of Motives And Prospects Within The Oli Framework: A Case Study Of German Fdi In China Introduction There are a number of theories that explain motives and prospects of FDI. OLI framework is the one that is most widely used by economists. According to OLI, there have to be advantages that can offset costs of making direct investment abroad. In this paper we apply the OLI framework to understand the motives behind German FDI in China. A case study of Volkswagen China is conducted to show the application of OLI in practice, and to demonstrate why FDI abroad can be a success story despite all the difficulties a company faces in a foreign environment. Literature Review One of the earliest theories explained FDI in terms of market imperfections. Kindleberger (1969) argued that for companies to gain advantage by investing abroad market has to be imperfect . If we assume that markets are perfect there is nothing foreign companies can exploit to make enough profits that will offset costs and risks associated with investing abroad (Kindleberger 1969).. The concept of firm-specific advantages was introduced to explain how market imperfections lead to foreign investment. Among these advantages are superior technology and marketing (Caves 1971), cheap labour (Grubel 1968), management skills (Wolf 1977), and exclusive access to natural resources (Lall and Streeten 1977). . Only when a foreign company possesses these firm-specific advantages can it successfully invest and become a major player in a foreign market and compensate for the disadvantages of being foreign in the country of its operation (Hymer 1976). Vernon’s product life cycle is another major FDI theory that tries to explain motives and the rationale behind FDI. Vernon (1966) dissected product life cycle into three distinct phases – innovation, maturity and standardisation Established companies in developed economies invest in new projects to design innovative products that will sell in future and guarantee a new profit channel for them. When a new product is designed, it is sold in the domestic market. Consumers gradually get used to it and demand new products. This leaves the company with two not mutually exclusive choices – get back to the innovation phase and design something new, or go abroad and produce the same products there. Going abroad is sometimes a better choice because foreign producers (such as China) start to imitate the existing product and become so good at it that the differences with the original become marginal (Vernon 1966). A later theory developed by Dunning (1977) has become widely used in attempts to understand the motives behind FDI. The theory became known as OLI: Ownership, Location and Internalisation. All three elements should be present in order for FDI to occur. This theory will be explained in greater detail in a separate chapter of this paper. Theoretical FrameworkDefinition of FDIAccording to the Organisation for Economic Co-operation and Development (OECD) (2008) 4th Edition of Benchmark Definition of FDI, FDI is â€Å"a category of cross-border investment made by a resident entity in one economy (the direct investor) with the objective of establishing a lasting interest in an enterprise (the direct investment enterprise) that is resident in an economy other than that of the direct investor† . Companies carry out FDI because they want to have direct control over their enterprise. This is what makes FDI different from portfolio investments which usually result in an ownership of less than 10 per cent of a foreign company’s capital. Hence the investor does not have real control over the foreign company (OECD 2008). Mergers and Acquisitions (M&A) and Greenfield investments are the two different types of FDI. The choice between them has different implications for the parties concerned. M&A happen when an existing company is bought out by a foreign firm. In contrast Greenfield investments are investments into new assets. For developing economies, including China, M&A are more common, for developed economies like Germany Greenfield investments are a popular choice (Shatz and Venables 2000). FDI are divided into horizontal and vertical; only in a few cases do the two occur simultaneously. Horizontal FDI occurs when a company invests in a firm built to serve the foreign market (Shatz and Venables 2000). . This foreign firm then performs the same activities as the host firm does in its own domestic market. With vertical FDI, the production cycle is fragmented so that each phase can be completed in a country where it can be done cheapest of all (Shatz and Venables 2000). OLI Framework The OLI framework is a theory that explains motives and the rationale behind multinational corporations’ (MNCs) decision to choose FDI instead of licensing use of their name or product to foreign producers or sellers (Lynn 2008). . FDI is a foreign investment so, for it to occur, the investing firm has to acquire assets in a foreign country. FDI is called direct investment because it results in a direct and real control over the acquired capital. MNC acquires a right to produce what it wants in a foreign country and decide where it wants to sell the product. As explained above, the whole product (horizontal FDI), or parts of it (vertical FDI), can be produced in a foreign country based on the considerations of cost-effectiveness (Shatz and Venables 2000).. FDI occurs because there are advantages to it. The first one is ownership advantage which stands for â€Å"O† in the OLI abbreviation. There has to be some advantage to owning the foreign asset. These can be lower costs, greater reputation, or swifter transition to a foreign market. Take for example Apple. The company has a reputation for high quality products so by owning a production facility in a foreign developing country it can still make profits that will offset costs of FDI (Lynn 2000). . Ownership advantage alone is not enough for FDI to occur. Here is when the â€Å"L† comes into play. â€Å"L† denotes the location advantage. A less costly labour force, access to the natural resources needed in manufacturing and a better geographic position (which leads to more efficient logistics), are some of the location advantages that can make companies seriously consider investing abroad (Lynn 2000). . Again this is not enough for FDI because everything described above can be achieved by brand licensing or through establishing joint ventures. FDI needs a third element – internalization, or control, advantage. This is the â€Å"I† in OLI. When it is believed that MNC can lose market share in case another company gets access to the same asset, FDI becomes the only choice available (Lynn 2000). . It is known that at some stage, foreign producers start copying products produced in the developed world and when they do it they are able to offer cheaper prices thus outperforming foreign producers in sales. To prevent this scenario many companies prefer to go with FDI and gain exclusive control over their assets. Methods and Data In this research, we conduct a critical review of the main theories of FDI, paying special attention to the OLI framework. While we acknowledge the importance of OLI in understanding international business and FDI in particular, we provide a short overview of criticisms of the paradigm so that readers have an understanding of the potential limitations of this research. A case study of German car manufacturer Volkswagen is used as a method of understanding FDI under the OLI framework as applied to the German investor interest in China and the two country’s bilateral economic relations. Additionally, we use statistical information to put some numbers into perspective and cite a research by Deutsche Bank which includes some forecasts as to the future of German FDI in China. Volkswagen (VW) Case Study Volkswagen was founded in 1937 (Datamonitor 2011). The name of the brand translates as â€Å"the car of the people† (Datamonitor 2011).. Volkswagen is represented in China through two ventures – with Shanghai Automotive International Company founded in 1985 and with First Automotive Works started in 1990 in Changchun (VW Annual Report 2010). VW has always regarded China as an important market. Today, there are 9 production facilities in China and 2 more are planned. VW’s target is to sell 3 million cars per year. Through 2015 VW is set to invest a total of 10.6 million euro to expand its production in China. VW is actively involved in producing electric vehicles in China. Both E-Golf and E-Lavida were presented in China and the first electric test was made here in 2011. VW is also set to produce a new brand specifically for the Chinese fast-paced economy (VW Annual Report 2010). Volkswagen Analysis Based on the OLI ParadigmOwnership advantageVW is one of the world’s most successful car manufacturing companies and, as such, it has a lot of advantages. VW is known in Europe for its technological advances and efficient production system. VW brand is strong all over the world. Many consumers associate vehicle design innovation, cost-effectiveness, and high safety standards with VW and consider it as their first choice when making decisions on buying a vehicle (VW official website 2011). Not surprisingly, VW had a competitive advantage over all Chinese manufacturers at the time of the entry into the market (VW official website 2011). In fact, VW is still superior to any of the Chinese car producers. VW exploited its technological dominance and increased its brand recognition. Chinese consumers were happy with the product offered and enjoyed VW’s presence in their country. Currently, VW strives to adjust its technology to meet changing customer need s and develop sustainable models for future (Yu 2010). .Location advantageVW’s joint venture in Shanghai was the most successful car enterprise in China at the time it was established in 1985 and it retains the top position today (Li 2000). . Locating in China, and Shanghai in particular, was the best possible decision for VW in terms of location because the region is rapidly developing and the people’s life standards are improving. Shanghai is the most densely populated and prosperous city in China and it has close ties with the central part of the country (Li 2000). Products from Shanghai are considered to have high quality across China and do not face any obstacles due to local protectionism. It should be also noted that at the time VW entered China it received many incentives and support from the government. The government still stimulates the automobile industry to increase domestic sales and contributes to the development of the sector. Thanks to these location a dvantages, VW China became a success and continues to be a source of decent income for the parent company (Li 2000)..Internalization advantageVW had the first mover’s advantage which helped it to become a major player in the new market. The company managed to take control over the major share of the Chinese market and realise all its ownership advantages. This first mover advantage till today helps VW to be very competitive with regards to Japanese and American rivals. To retain its market share, VW continues to innovate according to the changing tastes of the Chinese consumers and requirements to reduce the strain on the environment resulting from manufacturing and exploitation of automotive vehicles (VW official website 2011).Future of German Interest in ChinaChina has attracted German interest more than any other emerging country since 1997 (Deutsche Bank Research 2004). German companies explain their excessive interest in China by citing the country’s huge market p otential. In 2001 there were about 76 million prosperous consumers in China – a population that is worth FDI in any country despite possible barriers and foreign culture-related challenges (Deutsche Bank Research 2004). This number of prosperous consumers in China is greater than the total population of Germany and it is set to increase tenfold by 2015. The second most important argument for German FDI in China is the â€Å"extended low-cost assembly line† (Deutsche Bank Research 2004). Cost has always been one of the most important considerations in business decision-making.. Heated global competition for competitive advantage and market shares across virtually all industries means that companies need to find cheaper options for manufacture. China is often the best solution because of the low-cost labour force it offers. Not surprisingly, Germany, alongside other strong economic powerhouses, chooses China as a low-cost manufacturing site and actively invests there (D eutsche Bank Research 2004). Another reason for German FDI is the growing economy of China and its potential to become a dominant power. Germany has to defend its interest in a country which is set to become a global leader with an over 1 billion of potential buyers of products and services. Of course, China is a completely whole new world for German businesses that has to be explored until there is sufficient understanding required for making informed decisions. Usually, most foreign companies entering China lack information vital for their success and have to be quick to adapt or risk becoming a failure. China cannot be considered â€Å"one country – one market†. It is bigger than both Eastern and Western Europe put together (Deutsche Bank Research 2004) and it is naive to think that one product design or pricing strategy will work across the whole country (Deutsche Bank Research 2004). Hence a lot of prior planning is required (Deutsche Bank Research 2004). Among other obstacles that can potentially deter German interest in China are high input prices. There are a lot of protectionism locally, and also many logistic and bureaucratic inefficiencies that are not easy or cheap to overcome. Moreover, the global prices for raw materials and energy resources a re growing which adds to the cost of production even in China (Deutsche Bank Research, 2004). The final commonly-cited obstacle to German interest in China is the heated competition amongst different foreign companies coming from such developed nations as USA, Canada, and Australia. Everyone knows about advantages of investing in China and hence there is a lot of competition for assets and control over the market.Criticism of OLI frameworkThe OLI framework offers a very useful insight into the motives and the rationale behind FDI. The paradigm has evolved over the time to adapt to changes in the way international business is conducted (Narula 2010). Critics of the theory argue that because of expansion of OLI’s application to all MNE-related phenomena, it now risksbecoming tautologous (Narula, R. 2010). Narula proposes a return to the classic OLI framework and using alternative theories to understand the more complex new developments rather than internalising everything so th at it fits OLI. Narula acknowledges the importance of OLI in early research on the international business and FDI, but argues that it is not suited for explaining everything that happens in business (Eden 2003). In fact, it is becoming cumbersome to apply OLI to understanding international business, as the latter has became complex (Eden 2003).There is a need for new frameworks. OLI can still be a valuable tool in understanding some aspects of international business and FDI, but should lose its dominance in the academic community (Narula, R. 2010). Conclusion German interest has been present in China for almost half a century. Because Chinese market is huge and has a big growth potential, German companies are likely to look for more opportunities there. Before a decision to invest is made, companies always asses its prospects. OLI framework is often used to see whether FDI is justified. OLI’s critics now say that there should be some additional analysis involved in decision-making, because, as good as the paradigm is, it still cannot explain every complex aspect of international business. References Caves, R. (1971). International Corporations: The Industrial Economics of Foreign Investment. Economica, Vol. 38, pp. 1-27 Datamonitor (2011). Automotive Manufacturing in China http://360.datamonitor.com.www.baser.dk/Product?pid=10C672D5-7559-4A0A-90B3-5EFBDF97D73C [accessed 31 March 2014] Dunning, J. (1977). Trade, location of economic activity and the multinational enterprise: A search for an eclectic approach. University of Reading diuscussion papers in international investments and business studies, no. 37 Eden, L. (2003). A Critical Reflection and Some Conclusions on OLI. Vox Professori. http://www.voxprof.com/eden/Publications/Eden-Reflections-on-OLI-2003.pdf [accessed 1 April 2014] Foreign Direct Investment in China – Good Prospects for German CompaniesChina Special (2004). Deutsche Bank Research. http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000196028.PDF [accessed 30 March 2014]Grubel, H. (1968). Internationally Diversified Portfolios: Welfare Gains and Capital Flows. American Economic Review, Vol. 58, pp. 1299-1314. Hymer, S. (1976). The International Operations of National Firms: A Study of Direct Investment. PhD Thesis. Massachusetts Institute of Technology Kindleberger, C. (1969). American Business Abroad: Six Lectures on Foreign Direct Investment. Yale University Press Lall, P. and Streeten, S. (1977). Foreign Investment, Transnationals and Developing Countries. London: Macmillan Li X. (2000). Foreign Direct Investment in China: The Importance of Market Entry Timing. The Haworth Press, Inc Lynn, W. (2008). The OLI Framework Temple University. Lecture Notes. http://astro.temple.edu/~pippin/oli.htm [accessed 30 March 2014] Narula, R. (2010). Keeping the eclectic paradigm simple: a brief commentary and implications for ownership advantages. United Nations University. Working Paper Series. https://www.google.com/#q=Narula%2C+R.+(2010).++Keeping+the+eclectic+paradigm+simple%3A+a+brief+commentary+and++implications+for+ownership+advantages [accessed 30 March 2014] OECD (2008). OECD Benchmark Definition of Foreign Direct Investment, 4th Edition, pp. 1-241 Shatz, H. and Venables, A. (2000). The Geography of International Investment. Policy Research Working Paper, Vol. 2338, The World Bank, Washington, D.C. Vernon, R. (1966). International investment and international trade in the product cycle. Quarterly Journal of Economics, Vol. 80, pp. 190-207 Volkswagen Annual Report (2010). http://www.volkswagenag.com/vwag/vwcorp/info_center/en/publications/2011/03/Volkswagen_AG_Geschaeftsbericht_2010.-bin.acq/qual-BinaryStorageItem.Single.File/GB_2010_e.pdf [accessed 31 March 2014] Volkswagen official website (2011). With a new sales record Volkswagen Group China, http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2011/01/With_a_new_sales_record_Volkswagen_Group_China.html[accessed 31 March 2014] Wolf, B. (1977). Industrial Diversification and Internationalization: Some Empirical Evidence. Journal of Industrial Economics, Vol. 26, no. 2, pp. 177-191. Yu, Q. (2010). BlueMotion’ powers VW to save energy, boost sales. http://www.chinadaily.com.cn/business/2010-12/20/content_11728087.htm [accessed 31 March 2014] Additional Resources Chunlai, C. (1997). The Location Determinants of Foreign Direct Investment in Developing Countries. The University of Adelaide. http://www.rrojasdatabank.info/97_12.pdf [accessed 30 March 2014] China (2013). German Federal Foreign Office. http://www.auswaertiges-amt.de/EN/Aussenpolitik/Laender/Laenderinfos/01-Nodes/China_node.html [accessed 30 March 2014] Franco, C., Rentocchini, F., Marzetti, G. (2008). Why Do Firms Invest AbroadAn Analysis of the Motives Underlying Foreign Direct Investments. University of Bologna and University of Trento. http://www.etsg.org/ETSG2008/Papers/Franco.pdf [accessed 30 March 2014] World Economy FDI: The OLI Framework. University of Oxford. http://users.ox.ac.uk/~econ0211/papers/pdf/fdiprinceton.pdf [accessed 30 March 2014]

Marketing Literature Review Essay

Marketing as a management Function3 †¢ Integration of marketing Function7 †¢ Changes in Business Environment10 †¢ Marketing Challenges15 †¢ Bibliography21 Marketing as a Management Function Marketing as a management function which in its simplest term refers to the basic functions of management namely planning, organizing, leading and controlling (POLC). These four functions are necessary for the achievement of organizational goals. It is important that these activities should operate in harmony with one another since they are interrelated. For instance, according to Cole (1996), a manager cannot just do planning and ignore the other aspects. Although these four functions do not tell the whole story about what constitutes management, they are a convenient way of describing most of the key aspects of the roles of management. Planning Plans and decisions are essential requirements to organizational tasks and management. Business success depends significantly upon the successful planning and decision making. Hence, planning is usually listed as the first function of management as we must have a plan before we can organize. Planning can be defined as the management function which involves setting the company’s goals and then determining the means to achieve these goals, in other words, deciding how best to achieve them. In simpler terms, it means deciding now, what to do in the future, given certain intended conditions. The word now indicates present circumstances and the current state of affairs pertaining to an organisation. So, it has been observed that environmental scanning, consisting of the SWOT analysis is therefore a pre-requisite for the planning process. It includes the internal and external environment of the organisation which allows the firm to take advantage of the opportunities and minimize the impact of threats. In addition, the company will have to consider the changes and developments in the macro marketing environment which is the PEST factor (Demographic, Natural, Political/legal, economic, socio-cultural, and technological). The second important element which is ‘what to do’ can also be referred to as ‘what to achieve’. These are expressed in terms of a statement of objectives, goals and targets. The third element, future, may be any time that succeed in the next second or a fraction of it. The future is basically characterised by uncertainty and uncertainty involves risk. Therefore, effective planning requires an effective and efficient process of coping with the uncertainty and the risk of the future to enable achievement of organisation’s objectives. Organizing In order to reach the objective outlined in the planning process, structuring the work of the organization is a vital concern. Organizing is the management function which focuses on arranging and allocating work, authority and resources among an organization’s members that blend together to develop one purpose, to accomplish the goals. These goals will be reached in accordance with the company’s values and procedures. This function involves the setting up of an organizational structure whereby work is allocated, lines of authority and responsibility defined and a system of rules and regulations which guide the conduct of employees laid down. Bateman, Snell (2007) pointed out that a manager must know their subordinates and what they are capable of in order to organize the most valuable resources a company has, its employees. This is achieved through management staffing the work division, setting up the training for the employees, acquiring resources, and organizing the work group into a productive team. This structure should constantly change to suit the organizational needs. Leading Leading inv olves influencing others to engage in the work behaviours necessary to reach organizational goals (Bartol 1997). The manager must communicate with his/her subordinates, explain his/her plans to them, and lead and motivate them to exert their maximum efforts to achieve the goals. Motivation is an internal process that energizes people to engage in certain types of behaviours. Frederick Winslow Taylor’s Scientific Management Movement, was one of the earliest attempts to understand and to deal with the problem of worker motivation. Some major contributors to motivation theories are Abraham Maslow for the Hierarchy of needs theory, Douglas Mc Gregor for Theory X and Theory Y, Frederick Herzberg for Motivation-Hygiene Theory. Leadership has been defined by Dobbins and Pettman (1997) as the ability to motivate people to work towards achieving common goals, to make ordinary people display extraordinary performance. There are different theories of leadership with various stages at its development: traditional theories, contemporary theories and future of leadership. The major contributors to leadership theories are Handy (1993), Kouzes and Pasner(1993), Cacioppe (1997), R. Likert(1961), Blake and Mouton (1964), Fiedler (1967), and Hersey-Blanchard (1968). Controlling Controlling is the management function aimed at regulating organizational activities so that actual performance will conform to expected organizational standards and goals (Bartol 1997). Therefore, the controlling function consists of three steps: i) Establishing a standard or target, ii) Measuring current performance and comparing it with the standard, and iii) Taking corrective actions if deviations are detected. Control is essential at every managerial level since each level has its own planning and responsibility regarding the respective set of activities. However, there is a misconception that control is from top management due to the fact that responsibility increases with the level of hierarchy. Integration of Marketing Function Integration is a marketing catchphrase of the moment. It has risen up because of social, market and technological developments have become more salient and significant than before. The harmonizing of integrated marketing must start with the planning process, by allowing adequate feedback and flexibility to achieve increased organizational fluidity. For the delivery of good customer satisfaction, there should be coordination at three levels. ? Co-ordination among various marketing activities. Nowadays companies need to use a wider range of communication tools and messages effectively by embracing Integrated Marketing Communications (IMC). IMC requires â€Å"integration and co-ordination of an organization’s many communication channels, such as advertising, direct marketing, sales promotion and public relations and publicity, to deliver a clear, consistent and compelling message about the organization and its products† (Kotler, 2000).

Gold Price In The Us Essays - Precious Metals, Gold, Inflation

Gold Price In The Us Essays - Precious Metals, Gold, Inflation Gold Price In The Us The largest demand for gold is in jewelry and investments. Gold is known as a metal that is easily used and has many industrial applications. Since gold is so durable and luxurious, many people invest in jewelry, stocks, and gold bonds. Considering the fact that gold is considered a world-wide valuable good, many economies have gold reserves to help protect themselves in times of need. Nevertheless, factors of supply and demand have contributed to the decrease of the price of gold, which has reached an all time low since 1978. This reduction has raised many concerns in the United States having them weigh the different factors of the price, supply and demand, and consumption that may be affecting the price change. The price change commands attention since gold serves to indicate price stability or inflation. Although, inflation is not as threatening in the United States because it is more industrialized, the bigger fear is facing deflation with our countries gold currency. Gold averaged 294 dollars per ounce in 1998, when at one time the prices were in the mid $400-500 per ounce. Due to fact that gold prices have been so low, Central Banks have threatened to sell their gold inventories fearing that gold is no longer considered the ultimate store of value. Regardless, prices have continued to fluctuate in both directions throughout the year, but it is important to weigh the different variables that are having an effect on the price. There are different factors associated with the supply and demand which have caused prices to decrease. First of all, the record low prices in the past year has caused investors to participate less causing prices to be determined largely on golds own supply and demand fundamentals and the economic environment. The supply of gold declined by less than 2% during 1998. The price reduction started to impact the mine production by slowing the rate of manufacture growth by the end of 1998. When prices began to weaken, this caused many mines to shut down, leaving low grade ore in the ground. This alone is effecting the mine output and the cost to produce more gold. On the other hand, the sales of gold jewelry are increasing at a record pace, since the economy is strong, there are low gold prices, rising consumption rates, the emergence of new discount chains, television shopping, and electronic chains (Haubrich, Joseph). The growing demand for gold jewelry helped push gold usage in the United Sates to a first time report of 428.4 metric tons in 1998, which is an 18% increase. Since consumption has been driven in the United States, our economy is expanding and consumers are spending more. During the past year, according to the JCK national poll, over 150 independent jewelers support the figures. They found that two-thirds of respondents (68%) said they had a sales increase over the past year, while the other two out of five (38%) claimed to have sales gains of 20% or more. Over all, the immediate gain for jewelry retail due to the lower prices was a 15 % increase. Using the statistics from the Commodity Price Index, for the last 12 months in 1998, it is evident that the second half of the years prices fluctuated. In the first part of 1998, the gold price ranged from $295.90 - 297.49, although it peaked in April reaching to $308.40, which was the highest for the year. The price increase was due to higher demand of consumers and the expansion in investments during that time period, in spite of the fact, prices did not continue to remain as high for the remainder of the year. In fact, the following month of May, dropped another $9.01, having the rate of gold at $299.39. As for the second half of the year, prices still dropped but managed to stay in the low $290s making retailers prosperous. Regardless consumers were happy with the lower prices, many investors and miners have been struggling to feel the same towards the lower rate. Stocks have lost over 90% percent of their investments in gold and have many investors wondering if the value of gold is depreciating. Miners too, are worried about the lower prices considering they have been the major producers of gold in the past and in future markets. The idea that central banks have discussed to sell partial amounts of their gold reserves has investors worried with hopes that demand will not continue to decrease. When evaluating

Interesting and Strange Astronomy Facts

Interesting and Strange Astronomy Facts Even though people have studied the heavens for thousands of years, we still know relatively little about the  universe. While astronomers continue to explore, they learn more about the stars, planets, and galaxies in some detail and yet some phenomena remain puzzling. Whether or not scientists will be able to solve the mysteries of the universe is a mystery itself, but the fascinating study of space and all its many anomalies will continue to inspire new ideas and give impetus to new discoveries as long as humans continue to look up at the skies and wonder, Whats out there? Dark Matter in the Universe   Astronomers are always on the hunt for dark matter, a mysterious form of matter that cant be detected by normal means- hence its name. All of the universal matter that can be detected by current methods comprises only about 5 percent of the total matter in the universe. Dark matter makes up the rest, along with something known as dark energy. When people look at the night sky, no matter how many stars they see (and galaxies, if theyre using a telescope), theyre only witnessing a tiny fraction of whats actually out there. While astronomers sometimes use the term vacuum of space, the space that light travels through isnt completely empty. There are actually a few atoms of matter in each cubic meter of space. The space between galaxies, which was once thought to be quite empty, is often filled with molecules of gas and dust. Dense Objects in the Cosmos People also used to think that black holes were the answer to the dark matter conundrum. (That is, it was believed that the unaccounted for matter might be in black holes.) While the idea turns out not to be true, black holes  continue to fascinate astronomers, with good reason. Black holes are so  dense and have such intense gravity, that nothing- not even light- can escape them.  For example, should an intergalactic ship somehow get too close to a black hole and be sucked in by its gravitational pull face first,  the force on the front of the ship would be so much stronger than the force at the back, that the ship and the people inside would get stretched out- or elasticized like taffy- by the intensity of the gravitational pull. The result? No one gets out alive. Did you know that black holes can and do collide? When this phenomenon occurs between supermassive black holes,  gravitational waves  are released. Though the existence of these waves was speculated to  exist, they werent actually detected until 2015. Since then, astronomers have detected gravitational waves from several titanic black hole collisions.   Neutron  stars- the leftovers of the deaths of massive stars in supernova explosions- arent the same thing as black holes, but they also collide with one another. These stars are so dense that a glass full of neutron star material would have more mass than the Moon. As gargantuan as they are, neutron stars are among the fastest spinning objects in the universe. Astronomers studying them have clocked them at spin rates of up to 500 times per second. Whats a Star and What Isnt? Humans have a funny propensity to call any bright object in the sky a star- even when its not. A star is a sphere of superheated gas that gives off light and heat, and usually has some sort of fusion going on inside it. This means that shooting stars arent really stars. (More often than not, theyre just tiny dust particles falling through our atmosphere that vaporize due to the heat of friction with the atmospheric gases.) What else is not a star? A planet is not a star. Thats because- for starters- unlike stars, planets dont fuse atoms in their interiors and theyre much smaller than your average star, and while comets may be bright in appearance, theyre not stars, either. As comets travel around the Sun, they leave behind dust trails. When Earth passes through  a cometary  orbit and encounters those trails,  we see an increase in meteors (also not stars) as the particles move through our atmosphere and are burned up. Our Solar System Our own star, the Sun, is a force to be reckoned with. Deep inside the Suns core, hydrogen is fused to create helium. During that process, the core releases the equivalent of 100 billion nuclear bombs  every second. All that energy works its way out through the Suns various layers, taking thousands of years to make the trip. The Suns energy, emitted as heat and light, powers the solar system. Other stars go through this same process during their lives, which makes stars the powerhouses of the cosmos.   The Sun may be the star of our show but the solar system in which we live is full of weird and wonderful features as well.  For instance, even though Mercury is the closest planet to the Sun, temperatures can drop to a frigid -280 ° F on the planets surface. How? Since Mercury has almost no atmosphere, theres nothing to trap heat near the surface. As a result, the dark side of the planet- the one facing away from the Sun- gets extremely cold. While its farther away from the Sun, Venus is considerably hotter than Mercury due to the thickness of Venus’ atmosphere, which traps heat near the surface of the planet. Venus also spins very slowly on its axis. One day on Venus is equivalent to 243 Earth days, however, Venuss year is only 224.7 days. Odder still, Venus spins  backward  on its axis as compared to the other planets in the solar system. Galaxies, Interstellar Space, and Light The universe is more than 13.7 billion years old and it is home to billions of galaxies. No one is quite sure exactly how many galaxies there are all told, but some of the facts we do know are pretty impressive. How do we know what we know about galaxies? Astronomers study the light objects emit for clues as to their origins, evolution, and age. Light from distant stars and galaxies takes so long to reach Earth that were actually seeing these objects as they appeared in the past. When we look up at the night sky, were in effect, looking back in time. The farther away something is, the farther back in time it appears. For instance, the Suns light takes almost 8.5 minutes to travel to Earth, so we see the Sun as it appeared 8.5 minutes ago. The nearest star to us, Proxima Centauri, is 4.2 light-years away, so it appears to our eyes as it was 4.2 years ago. The nearest galaxy is 2.5 million light-years away and looks the way it did when our Australopithecus hominid ancestors walked the planet. Over the course of time, some older galaxies have been cannibalized by younger ones. For example, the Whirlpool galaxy (also known as Messier 51 or M51)- a two-armed spiral that lies between 25 million and 37 million light-years away from the  Milky Way that can be observed with an amateur telescope- appears to have been through one galaxy merger/cannibalization in its past.   The universe is brimming with galaxies, and the most distant ones are moving away from us at more than 90 percent of the speed of light. One of the strangest ideas of all- and one thats likely to come true- is the expanding universe theory, which hypothesizes that the universe will continue to expand and as it does, galaxies will grow farther apart until their star-forming regions eventually run out. Billions of years from now, the universe will be made up of old, red galaxies (those at the end of their evolution), so far apart that their stars will be almost impossible to detect.

Objectives and Goals of a Lesson Plan

Objectives and Goals of a Lesson Plan Objectives, also known as goals, are the first step in writing a strong  lesson plan. This article includes descriptions of the objectives of lesson plans, how to write them, examples, and tips. Goal-Writing Tips Whenever possible, write clearly defined and specific objectives (goals) that are easy to measure. That way, at the conclusion of your lesson, it will be relatively easy to determine if you met or missed your objectives, and by how much. Objective In the objectives section of your lesson plan, write precise and delineated goals for what you want your students to be able to accomplish after the lesson is completed. Here is an example: Lets say that you are writing a lesson plan on nutrition. For this unit plan, your objective for the lesson is for students to name a few food groups, identify the food groups, and learn about the food pyramid. Your goal should be specific and use numbers where appropriate. This will help you determine if you met your objectives or not after the lesson is over. What to Ask Yourself In order to define your lessons objectives, consider asking yourself the following questions: What will students accomplish during this lesson?To what specific level (i.e. 75% accuracy) will the students perform a given task in order for the lesson to be considered satisfactorily accomplished?Exactly how will the students show that they understood and learned the goals of your lesson? Will this occur through a worksheet, group work, presentation, illustration, etc? Additionally, you will want to make sure that the lessons objective fits in with your district and state educational standards for your grade level. By thinking clearly and thoroughly about the goals of your lesson, you will ensure that you are making the most of your teaching time. Examples Here are a few examples of what an objective would look like in your lesson plan. After reading the book Life in the Rainforest, sharing a class discussion, and drawing plants and animals, students will be able to place six specific characteristics into a Venn diagram of the similarities and differences of plants and animals, with 100% accuracy.While learning about nutrition, students will keep a food journal, create a balanced meal using the food pyramid (or food plate, as it is now called), write a recipe for a healthy snack, as well as name all of the food groups and the foods that correlate with them.While learning about the local government, the goal of this lesson is to have students identify the components of local government and be able to generate four to six sentences using local government facts and vocabulary.While students learn about the pattern of digestion, by the end of the lesson they will know how to physically point out areas of the digestive track, as well as tell specific facts about how the food we eat can turn into the fuel that our bodies need. After the objective, you will define the anticipatory set. Edited By: Janelle Cox

Describe and evaluate psychological theories of human motivation Essay

Describe and evaluate psychological theories of human motivation - Essay Example When we do things without enough reason, we are not motivated and the result of that activity is not pleasant and successful. Kanfer (1990) also argues that motivation cannot be seen or felt, that’s why it is termed a hypothetical construct and we see its effects and by-products. An analogy for this is gravity which cannot be seen or felt but we see its effects if we jump from a high building. (Jex, 2002, p. 210) Motivating employees is a challenge to managers; it is a part of effective management. There are various theories of motivation and there are many ways to motivate employees. One way is to demonstrate trust to employees. This may include removing some controls or asking an employee to create a plan or schedule and be creative, putting subordinates in charge of something one would not normally handle, or giving incentives and raising salaries, and so on. Motivation is also related with work-life balance – it is a balance for life and what people do. Managers motivate people in order to have blending between work and family life. Work and family with pleasure and fulfilment are impacted by effective motivation. A productive employee can have a balance of life and work – he cannot be productive at work if he has a problem at home. Satisfaction in work and feelings and satisfaction in life and happiness with the family are interrelated. Moreover, motivation is an important factor in the efficiency of people in an organization. Performance management emphasizes much on motivation. Studies have found that successful managers have stronger power motives than less successful managers. The human need theory asserts that people have urges relative to the three needs which are the need for achievement, the need for affiliation, and the need for power. Much has been written on motivation and the literature has supplied us with theories of human motivation. These theories are categorized into several types like: 1.) the need-based theories

Food Properties Assignment Example | Topics and Well Written Essays - 2750 words

Food Properties - Assignment Example However, even though the baking chefs love their gluten products, physicians are of the opinion that one needs to avoid gluten products. The reason being the adverse health effects the gluten has on human health. This projects aims to compare the characteristics and sensory evaluation of each bread product and discuss about the advantages and drawbacks of the final products. For the purpose of this project breads will be made using different types of flour- chestnut flour, white rice flour and wheat flour using different proportions of each in the recipes. Gluten is a protein that has a potential of causing health problems. Celiac diseases are a disease of the immune system and intake of gluten initiates an immunological response which leads to damage of the stomach lining (A.D.A.M. Medical Dictionary, 2014). Gluten is also a well known allergen (Guandalini,2007) and it has been seen that children exposed to gluten at an early end become increasingly susceptible to celiac diseases. Chestnut flour is today used as a healthier alternative to other gluten-containing flours. Chestnut flour is derived by grinding dried chestnuts. It has a grayish appearance and a sweet flavor. Chestnuts being low in both calories and fat content are used as an healthier component in many recipes. Chestnut flour is gluten-free flour which means that the breads and other products that are prepared from this flour do not rise and therefore are dislike by many. The spongy texture of bread is lost owing to the absence of gluten which is primarily responsible for making the bread rise. However, this flour has nutritional and health benefits. Firstly, being low in fat content it is much healthier than common flour. Chestnut flour addition to any flour increases fiber and ash content (Jozinovic et al,2012,p26). Chest nut flour contains a large amount of vitamins

An essay about busness Strategy from a.Profitability b.Marketing

An about busness Strategy from a.Profitability b.Marketing c.Expected local response - Essay Example Brookside products manufacturers had maintained long working hours developing products that were not going to perceived as good as Fresh Milk Company’s products. Some local consumers thought stopping the manufacturer from developing the products could affect the morale of developing the new product. However, comparing the morale of the product team in relation to the profitability and the market demand, it was not a good idea for introducing the new products that were already inferior to that of the Fresh Milk Company. Brookside wisely stopped working and developing the inferior products and developed new market strategies and the environment to develop new products that outperformed Fresh Milk Company’s products (Caramia & Guerriero, P. 132). The pricing or selling effort strategies would be dealt with effectively when the Brookside company follows an appropriate skimming strategy that seek to be the first company to introduce high quality and good performance products. In addition, the Brookside Company should sell its brands to the market segment innovators that charge a premium price for its products (Tidstrà ¶m & Hagberg-Andersson, P. 340). For this reason, the brand or products would produce as much profit as possible. Nevertheless, the company should move on or change its operative strategies when the competitors arrive since the prices are likely to fall as a result of competition for the available potential and reliable customers. For this regard, the skimming strategy in conjunction with the pricing penetrative strategy would gain a significant market share by undergoing short-term profits in favor of long-term benefits (Thomas & Andrew, P 57). Competitors’ strength and abilities should be dealt with probable response by evaluating and assessing all the competitors influence in the market environment. For the business to succeed effectively, the companies must leverage its mechanisms of producing unique and

Sew What Inc Essay Example | Topics and Well Written Essays - 500 words

Sew What Inc - Essay Example Examples, which justify information technology’s role in Sew What, Inc.?’ success entail, i. During its onset in the market, information knowhow contributed to its credibility where numerous people were able to recognize it besides the business’ products and services. Hence, gaining enormous clientele pool interested in drapers and other products it produced. v. Megan Duckett’s knowledge regarding the essence of technological knowhow enabled the company to expand besides having effective operations (Murphy, 2006). This is evident in the way she embraced the Dell’s operations into her business. It is irrefutable if Megan Duckett intends to dominate and attain enormous market share globally she has no alternative but to utilize technology effectively (Murphy, 2006). This entails ensuring the company has the capability of reinventing itself especially in monitoring what is new in the world of technology and implementing it, for effective services’ delivery. However, the business ought to consider the cost and effectiveness of the information technology prior applying it. Assuming the position of management consultant, I will advise Megan Duckett to undertake the following: i. She must ensure that all the business’ marketing assets are up to date, which entails training marketing personnel in all aspects of sales (Murphy, 2006). This is to ensure that the business is capaable  of containing stiff competition evident in the market presently. iii. The business should take advantage of the current social sites (Orkut, Facebook, tweeter ete) besides blogging. This will ensure more interactions amid the people and the business management meant to know reactions of its clientele. v. Megan Duckett besides specializing in drapery making, she should think of being a global provider of the same line materials to other corporations, which will yield to an increased market share (Murphy, 2006). Information technology usually enables small

White-tailed Deer Research Paper Example | Topics and Well Written Essays - 1000 words

White-tailed Deer - Research Paper Example It has a brownish gray body with white hairs on the under side of the tail. During summer its color is reddish brown. Today the white tailed deer population is 18 million (pp. 5-11). They are found in deserts, swarms, farmlands, prairies. They mostly prefer living in open lands near the rivers and streams. As described in Zwaschka (1999), an adult male deer grows 41 inches tall and weigh about 160 pounds.(72 kgs) Female deer (doe) is smaller in size and they weigh 40-90 kgs on an average. The weight of white tailed deer varies from region to region. They live up to 10-20 years. It is herbivore and its feeding hours are in the early morning and late after noon. Its diet changes depending on the habitat and the season (pp. 4-10). It is a shy and cautious animal. They are good runners, leapers and swimmers. In alarming situations they flag their tails and run. The bucks alone have antlers that grow annually and fall off in the winter. Female deer gives birth to one to three young ones a t a time, usually in the May or June. Their gestation period is 7 months. They are nocturnal and crepuscular animals. They are preyed up on by bobcats, coyotes and mountain lions. The scientific classification of white tailed deer; Kingdom: Animalia Phylum: Chordata Class: Mammalia Order: Artiodactyla Family: Cervidae Subfamily: Capreolinae Genus: Odocoileus Species: O. virginianus (Source: Squam Lakes Natural Science Center). Life Cycle The breeding season or rut extends from October to January though the majority occurs in October- November. Both bucks and does are seen active and they get out of their nocturnal habits during the breeding season. Patent (2004) describes the life cycle of white deer; the bucks rub their well developed antlers against big trees to mark their territories. These signs are called rubs. Bucks often fight with each other using antlers but fatal injuries are rare. During winter they shed off their antlers. But, antlers grow very fast, and those which grow will be stronger than the previous ones. (pp. 5-11). Antlers get their nourishment from a highly vascularized membrane called velvet which dries off which is rubbed against trees and shrubs. Fully grown antlers mark the breeding season for the bucks. Fawns are born after a 200 day gestation period. Two to three fawns are born in one litter. For the first few weeks the doe hides the fawns by themselves. The fawns have a spotted coat for the first 3-4 months but it is lost when the first winter comes. As described in National Geography website, when the mother goes in search of food the fawns lay flat on the ground quietly among the grass. They are scent free for few weeks to safe guard themselves from predators. Deer reproduces quickly and can over populate the area. To keep check on their numbers natural predators like bobcats and coyotes play a significant role (National Geography). Structure and function The organ system of the white tailed deer is same as that of any mammal. But its digestive system requires special mention. The front of the upper jaw bone does not have any teeth like other mammals. Teeth are replaced with a resilient pad which is in contact with the lower incisors. As Deal (2010) illustrates, they have 32 teeth. 8 incisors, 12 pre molars and 12 molars. They have a four chambered stomach. This ruminant stomach enables the deer to collect large quantity of food at a time, chew and digest it later. The deer pushes its food with its tongue to the back of the mouth where it is chewed. It is chewed just enough to swallow (p. 139). Then it is passed to the gullet of the stomach. The stomach is compartmentalized to four sections. They are the rumen, reticulum,

Sew What Inc Essay Example | Topics and Well Written Essays - 500 words

Sew What Inc - Essay Example Examples, which justify information technology’s role in Sew What, Inc.?’ success entail, i. During its onset in the market, information knowhow contributed to its credibility where numerous people were able to recognize it besides the business’ products and services. Hence, gaining enormous clientele pool interested in drapers and other products it produced. v. Megan Duckett’s knowledge regarding the essence of technological knowhow enabled the company to expand besides having effective operations (Murphy, 2006). This is evident in the way she embraced the Dell’s operations into her business. It is irrefutable if Megan Duckett intends to dominate and attain enormous market share globally she has no alternative but to utilize technology effectively (Murphy, 2006). This entails ensuring the company has the capability of reinventing itself especially in monitoring what is new in the world of technology and implementing it, for effective services’ delivery. However, the business ought to consider the cost and effectiveness of the information technology prior applying it. Assuming the position of management consultant, I will advise Megan Duckett to undertake the following: i. She must ensure that all the business’ marketing assets are up to date, which entails training marketing personnel in all aspects of sales (Murphy, 2006). This is to ensure that the business is capaable  of containing stiff competition evident in the market presently. iii. The business should take advantage of the current social sites (Orkut, Facebook, tweeter ete) besides blogging. This will ensure more interactions amid the people and the business management meant to know reactions of its clientele. v. Megan Duckett besides specializing in drapery making, she should think of being a global provider of the same line materials to other corporations, which will yield to an increased market share (Murphy, 2006). Information technology usually enables small