A Room of One’s Own and Modern Fiction Essays -- Lectures Literature P

A Room of Ones Own and Modern Fiction One of the first things to notice about A Room of Ones Own is that it is not a typical lecture. It rambles and flows back and forth, in and out. It is more narrative than logic. It breaks many of the conventions of a formal address. why does Virginia Woolf choose to do this? Why choose this style, this method? One reason is to turn predominantly masculine, or traditional, thinking on its head in magnitude to undermine its authority. There is another reason for her approach, howeverone that rises from her most basic ideas about what literature and report should be and do. Her ideas about what makes for good writing are contained in this text, if indirectly. Grasping these ideas allows the reader to see how she is able to write so convincingly, particularly since there seems to be such a significant leave out of argument involved. Where she does not tell the reader what she thinks, she shows them. But why does she add an undergraduate in a b oat, and why a river? She is doing more than simply exhausting to keep the reader interested with a few colorful descriptions. She is showing us what she values most about writing while at the alike time artfully expressing her views on women and fiction.Woolf is a modernist, concerned with illuminating life through the subjective consciousness and its impressions. Her seemingly random details and descriptions, in fact, get to together to paint a picture, to leave a skillfully crafted impression upon the reader. She believes the best door to the human mind and heart is through the subjective. She places us privileged the minds of others, where we, more often than not, find a little of ourselves. Eudora Welty writes, in her foreword to To the Lighthouse, The inte... ...onal narrator is scarcely able, scarcely bold enough, to drop a line of theme into these waters. Descriptions of dinners and the construction of buildings give the reader a feel of Woolfs picture of the world tha t no sermon, no argument, no plea, could. And it is through a taxi cab, property a young man and a girl, and the massive force of the river that the entire work seems to float down, that she captures life and convinces us that she is telling the truth. Works CitedWelty, Eudora. Introduction. To the Lighthouse. By Virginia Woolf. 1927. Orlando, FL Harcourt gear up and Co., 1981. vii-xii.Woolf, Virginia. A Room of Ones Own. The Longman Anthology of WomensLiterature. Ed. Mary K. DeShazer. New York Longman, 2000. 16-72.---. Modern Fiction. The Virginia Woolf Reader. Ed. Mitchell A. Leaska. New YorkHarcourt Brace and Co., 1985. 284-291.

The Audience and Writing Essay -- Audience Definition Essays

The audition and Writing Audience. Just one word yet it stirs frighteningly mistake images of perplexing thoughts in my mind. The word alone is strange, but when put in context of an essay it leaves me baffled and frustratedd1 . The questions What is Audience? Why do I charter it? and, What purpose does it serve? are important to my finally some day understanding the concept of Audience, but at this point I ceaset answer them fullyd2 . I can grasp the understanding of all the other aspects of writing an essay, although I may not incorporate them well in my physical composition at least I see why they are important. Audience, to me, is not so easy to understand. After reading The Allyn and Bacon Guide to Writing and the assigned chapters wedded to us for each writing essay in W131 classd3 , I am still left with an unclear picture of what to do with Audience in my papers. When thinking about Audience I think of who Im writing to, just who is my paper directed atd4 . Is it one person? Am I writing towards a group, or society? Is my essay directed at a large Audience, perhaps an entire culture? Is it good to have a lowly or large Audienced5 ? When writing towards a large audience the paper has to cover a large base of information, since to a greater extent people means more diversity, and a greater difference in opinions, you must write about enough variety that the entire Audience can understand, follow, and see your paper clearly. galactic Audiences can leave the reader confused, or perhaps make them not want to finish the essay at all. For myself I think its outstrip if I narrow my Audience down to a small group, or even one person when writing my essaysd6 . Although I havent through with(p) so in the past its probably the best... ...le with bone cancer, or even further and go down to a limb with cancer, like hand, or bone marrow, etc. I would have an even more specific Audience which would allow me to get very detailed and kn owing with my factsd18 . A larger Audience would be good if I wanted to write a broad paper that gives only general ideas or facts and doesnt get to intimate in one area. This leads into the idea of mixing, its not wise to mix an Audience, what I mean by this is starting off with a large Audience and then getting very detailed into one aspect of that topic, this would cause the writer to lose a large number of their readersd19 . Without an Audience one cant write a paper, its like heading out on a trip with no destination in min exertion CitedRamage, John, John Bean. The Allyn And Bacon Guide To Writing. Massachusetts A Pearson Education Company, 2000d21 .

Western Perspective on Western Biases in Hinduism Essay -- Hindu Relig

In many ways Rita Gross spot on Western bias on Hinduism, which creates an andocentric stance on three original deities of Vishnu, Siva, and Devi, worshipped in Hindu usance, is valid. As argued by Gross, within texts of Hinduism there appears an inclination towards an andocentric classification of the primary deities. This classification which is continually purported, truly does, resembles a base created with a patriarchy in mind. The list consistently is, as provided, Vishnu, Siva, and Devi. According to Gross theory, the male oriented Hindu commission of the primary three deities was non questioned by Western scholarship. As well as the fact, that Western traditions primary favour of texts would learn hindered any further proficiency of Hindu religion (Gross, p. 320). By excluding the rituals and symbols of the deities there would only be a partial down the stairsstanding of Hinduism. In my opinion, I agree with Gross on the aspect of Western tradition biasing the cert ain representation of goddesses. But I believe it may be important to illustrate the fact that other factors could have enabled an adjoin of Western biases. Among the unquantifiable number of civilizations which have come and dissipated into time, religion has been variably andocentric. Take the Greek and Roman religious tradition, both held above all the patriarchal tradition of rule under a man Zeus and Jupiter. Further on in monotheistic traditions of Judaism, Christianity, and Islam, there are also aspects which can be determined to be andocentric. exclusively three religions validated, over time, through dogma and tradition of a male god. Even though Judaism contains a matriarchic tradition of governance, there remains an ideology, which the oldish and new testa... ...n are subordinate to the male deity, in example Mary the mother of Christ became one of her sons chief followers. Mary is even so held in high regard but not in the same esteem as her son, Christ. In this su ggests an andocentric tendency by Westerns who place more brilliance on men than women. When faced by a polytheistic system of deities which includes goddesses as not subordinate to the gods but sometimes more powerful and fearsome characters could also increase the bias held by Westerns. Works CitedFuller, C. J. The Camphor Flame Popular Hinduism and Society in India. Princeton, NJ Princeton UP, 2004. Print.Gross, Rita M. Toward a impudently Model of the Hindu Pantheon A Report on Twenty-some Years of Feminist Reflection. Academic Press 28 (1998) 319-27.Klostermaier, Klaus K. Hinduism Beginners Guides. Oxford Oneworld Publications, 2007. Print. Western Perspective on Western Biases in Hinduism Essay -- Hindu ReligIn many ways Rita Gross stance on Western bias on Hinduism, which creates an andocentric stance on three primary deities of Vishnu, Siva, and Devi, worshipped in Hindu tradition, is valid. As argued by Gross, within texts of Hinduism there appears an inc lination towards an andocentric classification of the primary deities. This classification which is continually purported, truly does, resembles a group created with a patriarchy in mind. The list consistently is, as provided, Vishnu, Siva, and Devi. According to Gross theory, the male oriented Hindu representation of the primary three deities was not questioned by Western scholarship. As well as the fact, that Western traditions primary favour of texts would have hindered any further advancement of Hindu religion (Gross, p. 320). By excluding the rituals and symbols of the deities there would only be a partial understanding of Hinduism. In my opinion, I agree with Gross on the aspect of Western tradition biasing the actual representation of goddesses. But I believe it may be important to illustrate the fact that other factors could have enabled an increase of Western biases. Among the unquantifiable number of civilizations which have come and dissipated into time, religion has been variably andocentric. Take the Greek and Roman religious tradition, both held above all the patriarchic tradition of rule under a man Zeus and Jupiter. Further on in monotheistic traditions of Judaism, Christianity, and Islam, there are also aspects which can be determined to be andocentric. All three religions validated, over time, through dogma and tradition of a male god. Even though Judaism contains a matriarchic tradition of governance, there remains an ideology, which the old and new testa... ...n are subordinate to the male deity, in example Mary the mother of Christ became one of her sons chief followers. Mary is still held in high regard but not in the same esteem as her son, Christ. In this suggests an andocentric tendency by Westerns who place more importance on men than women. When faced by a polytheistic system of deities which includes goddesses as not subordinate to the gods but sometimes more powerful and fearful characters could also increase the bias held by West erns. Works CitedFuller, C. J. The Camphor Flame Popular Hinduism and Society in India. Princeton, NJ Princeton UP, 2004. Print.Gross, Rita M. Toward a New Model of the Hindu Pantheon A Report on Twenty-some Years of Feminist Reflection. Academic Press 28 (1998) 319-27.Klostermaier, Klaus K. Hinduism Beginners Guides. Oxford Oneworld Publications, 2007. Print.

Pollution Essay: Global Warming is Real :: Climate Change Environment

There is a problem, one which we cannot ignore. We must recognize this as a first step in coming up with solutions and bringing well-nigh change. Still, in that location are entities masquerading behind false pretenses that cultivate climate skepticism. Climate skepticism is a propaganda which states that global warming is nothing but natural, and that the human pass has nothing to do with it whatsoever They try to prove using elaborate schemes that climate change is a scam, and discredit with bogus scientific findings those which are sure and verifiable discoveries. One of the latter, however, expels any more doubts that humans are not at all liable to the anomalous changes in the environment, and this is the discovery of the CFC-generated hole in the ozone layer. Governments and corporations with a lot at stake cover up this ugly truth by planting uncertainties and circulating false information among the general population.And then, there are those people who are in complete den ial or are simply oblivious to the rampant and seemingly unstoppable chain reply of the climate change phenomenon, and to the fact that it is man-made. Isnt the Earth hot enough? Arent polar ice caps melting fast enough? Isnt desertification obvious enough for these people? call back not. Living life as if it was their own, caring for nothing else but their pathetic, borrowed lives. Never did it occur to them that there are other creatures - people, plants and animals - that coexist with them. A grim forthcoming awaits the younger generations as a consequence of their actions - and inactions.We are all responsible, whether we admit it or not. We are accountable for the damages we continuously and carelessly impose upon the Earth.

Human Resource Managementa Case Study Essay -- Personnel Management

Human Resource counsela Case StudyManagement of Human Resources-AssignmentIntroductionIn order to critically assess and recommend alternatives, I would like firstly to give a brief description of the business crisis the company was set about and the subsequent need for alternate in the companys overall business system. I would then like to focus on the key aspects of the firms human resources strategy and the changes that were made in order to supplement the overall changes in the business strategy.Business CrisisInternational Computers Limited (ICL) was born in 1968 out of the merger amidst English Electric Computers (EEC) and International Computers and Tabulators. With 40 million of government support it developed over a period of 6 years, an independent series of computers that was ill-sorted with IBM computers. IBM had garnered a 50% share of the UK computer market and the government felt the only way to stem this growth was through the integration of British heights tech firms. With the government as one of its major customers and through several strategic acquisitions and product diversifications during the 1970s, the company managed to achieve growth rates of around 20%. But this growth did not continue for long as the recession struck in 1979 and growth rates spiralled. By late 1980 the company was facing a 100 million shortfall in orders, in spite of having taken some major redundancy procedures. The firm was on the verge of failure when the government agreed to act as a guarantor for a 270 million bank overdraft. The government subsequently exercised its power of guarantee by instalment a new chairman and two new directors, one of who was Robb Wilmott, the new MD. Wilmott was a perceptive man who realised that the only way ICL was going to tolerate was by planning for the long-term and this was to be achieved by formulating a new product strategy and a complete change in the way it did business. true sparrow P 1995 International Computers L imited (ICL) In Hiltrop J, sparrow P (eds.) European Casebook on Human Resource and Change Management Prentice Hall, pp 110-122curtailmentThe rapidly changing global environment with regard to competition and technological advances in the industry and ICLs subsequent decision to shift from hardware to number systems differentiation, led the MD to pursue a new strategy based ... ...and Lorenz. 1994a) discusses the main problems associated with the implementation of this expression, including the possibility of role conflict, power struggles with regard to establishment of authority, impertinent decision making techniques and difficulty in establishing accountability. Though it may be argued that every form of organisational structure has both strong and weak points, maybe a structure that is applicable to the environmental context, as well as having fewer disadvantages attached to could be applied. My personal view would be implementation of a structure based on product grouping , which in essence is similar to the matrix, but appears to posses fewer disadvantages.ReferenceSparrow P 1995 International Computers Limited (ICL) In Hiltrop J, Sparrow P (eds.) European Casebook on Human Resource and Change Management Prentice Hall, pp 110-122Bibliography1.Armstrong M 1999 A Handbook of Human Resource Management Practice 7th edn. Kogan Page, London2.McKenna E 2000 Business Psychology And Organisational Behaviour 3rd edn. Psychology Press3.Handy C 1995 Gods Of Management 4th edn. cursor Books Ltd

Heroes and Heroism in Anita Desais Clear Light of Day Essay

Heroes and Heroism in Anita Desais Clear Light of Day When one asks a child, What do you want to be when you grow up? a usual response is a fireman or a ballerina. In Anita Desais Clear Light of Day, however, the young Bim and Raja be somewhat more ambitious they answer that they want to be a hero and heroine. Later, Bim asks somewhat bitterly, The hero and heroine-where are they? Down at the bottom of the well-gone, disappeared (157). Bim has befuddled track of her heroes however, Raja and Tara have not. The three siblings have very different relationships to heroic ideals. Raja is the most obviously hero-conscious character. First of all, he is extremely esthetical and idealistic, so he adores verse, in both English and Urdu. He merely reads and quotes English poets, such as Byron and Tennyson however, he goes farther in imitating the style of Urdu poetry in his own verses. As Bim thinks, The poems were really very derivative. On each of them she could clearly see the inf luence of the poets he loved and copied. There was no image, no metaphor, no turn of phrase that was original. Each was a meticulous imitation of what he had read, memorized and recited . . . . One could see in them only a wish to copy and to step where his heroes had stepped before him. (168) Raja is not trying to be an original poet on his own he simply tries to be exactly like his heroes, which he does perfectly. Through the Urdu poetry that he so admires, Raja becomes acquainted with his Muslim landlord and neighbor, Hyder Ali. At first Raja merely has permission to read and borrow the books in Hyder Alis library, but increasingly he becomes involved in that familys household. There he learns to app... ...s Bim, because she strikes a balance between idealism and reality. Raja is completely out of touch and gets so carried away by his glorious plans that he disregards the dangerous political situation which makes his plans impossible. At the other extreme, Tara lacks dreams, s o that she has no goals for herself and needs Bakul to force her to be strong and execute her will (17). Bim, however, has entertained ideals, had them crushed, and finally come to terms with her disillusionment. Bim is the heroine in Clear Light of Day. Work Cited Desai, Anita. Clear Light of Day. Great Britain Penguin Books, 1980. Professors Comments Although your end on Bim-as-heroine could use development--this is a fine and full exploration of the issue from your own angle. Good use of supporting illustration, and tecnically perfect.

Lifelong Learning Essay

It is important for educators to understand peculiar(a) procreation and how the diagnosis of readingal disabilities, early preventive, statemental programs, function for young learners, transitional programs, strengths and weaknesses in assessments and interventions affects their students and classroom environment, while also being up to(p) to offer suggestions for student improvement and expect performance. People learn for a lifetime so additional grooming drives to start as early as possible for all sisterren that assume it and breed on through their high school years. The learning process is not solely ab bulge academic learning for special education students, only is also about learning social, emotional, and self-c atomic number 18 skills. There is much to learn and it all begins with diagnosis. Diagnosis of Developmental DisabilitiesDevelopmental observe occurs from the time a tiddler is innate(p) through well-child visits with a health professional. There at omic number 18 five areas of development that so-and-so be affected and these are what health professional are monitoring cognitive development, physical development (including vision and hearing), conference development, social or emotional development, and adaptive development (Overview of first Intervention, 2012). If any problems are noticed during monitoring, and so the child is further assessed through developmental screening. Screening allows health professionals to monitor a childs progress more closely and determine how their development relates to the habitual population of children at the same developmental st successions. The hope with all well-child visits to prove a child is in perfect physical, mental, and emotional health and if they are not, then the process answers parents and health professional to intervene early. primeval InterventionEarly intervention is a system of services that helps babies and toddlers with developmental delays or disabilities (Overvi ew of Early Intervention, 2012), which has been proven to signifi beartly improve a childs chances of success in all developmental areas. For children with developmental delay of disabilities, early intervention can help them develop their physical, cognitive, communication, social, and self-care skills extensively. There are some services that can help develop these skills, such as speech therapies, assistive devices, physical therapies, and many more. Once children reach school age, they may then be placed in special education programs within their selected school system where they will continue the learning process. Educational ProgramsOnce children enter the educational system, IDEA consumes schools to provide the necessary tools and support staff to check off that each student can earn a free education. This may require something as simple as an assistive device, such as an iPad or computer to use to communicate, or could require more direct assistance, such as an aid to p rovide one-on-one assistance. Parents, teachers, and other support staff work together to create an IEP for each student. The IEP lays out the plan for each individual student and also includes what that students areas of developmental delay or disability are so schools can appropriately assist the student. thusly once the IEP is established, it can then be decided what educational program that the student should be involved in. There are a few unalike educational programs 1) strictly special education, which does not include any general education classes, 2) semi-special education, which includes a combination of general and special education classes, and 3) all general education classes, which is intended for those students that require special education, unless do not necessarily need to be a stick with out of a special education classroom.Strictly special education situations would be for students that are not capable of actively participating in a general classroom setting . Semi-special education programs are for students that are able to actively participate in a general education classroom, but may only need extra help in certain areas. One example could be in Math and Science, where a studentsignificantly struggles, but they achieve well in other areas such as Related Arts classes. Some students only need a little help and do well in a general education classroom, but still need to be involved in the special education program in certain facets in order to follow an IEP to ensure their needs are being met and that they are achieving well in school. Services for Young Exceptional LearnersAnother group of children, often included in the special education program, are those that are gifted, or considered exceptional learners. Although gifted children are often very intelligent, they can struggle with other areas that can affect their education and social development. These students should be offered services to help them reach their true potential. Qu ite often, gifted students just need focus, which can be achieved through services that help them learn how to develop their skills, interests, and intellectual capacities. (Beckley, 1998) Nurturing students with positive reinforcements, while provided adequate challenge in their stronger areas, can help ensure their ultimate success. It is important to not just throw gifted students into special education because their skills are not seen, but rather to work at understanding the student so that their intellect can blossom and their weaknesses improved or managed. Transitional ProgramsChildren continue through the education program until they complete high school. This can be up through age 22 for some students. At age 16, or before then for some students, IDEA mandates that students begin an Individualized Transition Plan (ITP) as part of their IEP. Transition services are intended to prepare students to move from the world of school to the world of adulthood (Transition to Adultho od, 2010). Just like the IEP, transition service for students must be coordinated between parents, teachers, support staff, and at this age also includes the student. Transition is intended to help students not only achieve academic goals, but also to aid in developing a students self-care and independent living skills. In addition, it also aids in determining their interests so that they can interact in their community, begin college or other post high school education, or obtain employment. If transition is successful, then students should be able to adequately adapt to their new circumstances andenvironment after completing high school. AssessmentsAssessments and interventions can be extremely beneficial to the well-being of a child with developmental delays or disabilities. Assessments by parents, health care professionals, and educators help to identify potential delays or disabilities early so that the child can receive services to help them manage or overcome them. Intervent ion programs provide the resources necessary for children to receive the services they are entitled to. Unfortunately, assessments and intervention are only as good as the support around the student. Parents must take their child to well-child checks for health professional to be able to identify an issue. Once an issue is determined, intervention can begin and involves parents, educators, healthcare professionals, and other support personnel. It is important for all parties in the support staff to work together and keep in communication about the needs of the child. The support system surrounding a special needs child can be their strongest resource or their weakness. It is up to parents to ensure that their child is getting the best treatments and services available to meet their needs and ensure their childs success. Improvement SuggestionsImprovements in assessment and intervention begins with parents. Parents need to be thoroughly educated on the needs of their child. Knowledge is power and the more the parents have, then the more they will be equipped to work with the childs other support personnel. Doctors and teachers needs to help parents understand the needs of their child and how all the various programs and processes can help their child succeed. Improvement stems chiefly around a cohesive unit of well-educated or well informed support group surrounding the child. Expected OutcomesAs parents, students, educators, and health professionals come together to form a cohesive support group, involving great communication, then the child can benefit by overcoming or improving their delay or disability. As more is learned about developmental disabilities, the brighter the future looks for all those that are challenged by such disabilities. Early intervention and appropriate support gives special needs children the chance to reachtheir dreams.ReferencesBeckley, D. (1998). Gifted and Learning Disabled Twice Exceptional Students. Retrieved from Neag Center fo r Gifted Education and Talent Development http//www.gifted.uconn.edu/nrcgt/newsletter/spring98/sprng984.html Overview of Early Intervention. (2012, December). Retrieved from National Dissemination Center for Children with Disabilities http//nichcy.org/babies/overviewwhat Transition to Adulthood. (2010, September). Retrieved from National Dissemination Center for Children with Disabilities http//nichcy.org/schoolage/transitionadult

How to Be Successful Business Manager

How to be successful Business Manager Introduction Everyone desired to success. In the crease field, becoming a successful manager is what the majority long for . No body changes into a well-rounded manager overnight. encyclopedism is necessary for everyone during this process. People aim to manage by managing under guidance of a impregnable manager-Michael Armstrong. Experiences after part undoubtedly be an excellent tutor for success, but having a good guide can further allow one to make mathematical function of his or her experiences into the largest extent. Being a successful manager requires a huge amount of money of skills and knowledge.In this paper, not all elements depart be mentioned, but the fivesome essential elements have been chosen to be discussed work smart , risk management, interpersonal giving and skills, Self-management and Leadership skills. Work Smart Work Effectively and Efficiently To express how to work smartly, Susanne Madsen, a PRINCE2 and MSP pr actitioner and a qualified Corporate and Executive coach, tells us her tale of success. Work smarter, not harder, as explained by Susanne, means functional less and accomplishing more than by increasing the working quality. (2)To get things done wisely, she highlights the logical implication for correcting ones internal persuasion and attitude towards his or her task that it is not a burden. One could , because, get the vigor for working again. According to the writers own experience, she shows that self-assessment and continuous self-adjustment argon the paramount importance for success. She in like manner suggests two key points first, is deputation. A manager should depute the less vital jobs to the others and use those times to communicate more with the major person associated to the project for developing a better linkage with them.Second, is initiative. A manager should get a more well-round intention at the beginning instead of responding the incident or risk when it ha s been occurred. I am glad to read the inspirational article written by a top leader in the world. She gives a great arousal to me. Her sharing and skills be useful, not only at the workplace, but also at the senior academic level. I believe that many college students, just like me, are having the improper belief that the project is burdensome. Why cant I alter my mindset to abandon the constraints and step up to success smartly?Just try it Self-management Walter Vieira (2005) proves that people refuse to face realistic self-image and idealistic self-image is biased,(p. 33) and so to evade the results of their SWOT analysis which about their advantages, disadvantages, opportunities and threat environment. (p. 34) However, people do not understand their strength and weakness, will not be able to intone and improve , they cannot develop their abilities. In addition, they hold to assess that whether they have the basis element include a positive goal, ambition and energy .They also need to know whether they have clearly aware of their thoughts adaptable ,witty and creativity. He said that people have two reason of requesting an identity, one is for high living standards, and another(prenominal) is satisfying others expectation. He agreed with Cyrus Vance that people always evaluate their progress with friends. They were unhappy because their achievements are worse than the others. (p. 35) Therefore he reminded that people not to analyse and assess their progress with others, because different people do different things ,will have different progress, as long as compliance with their own broadcasts on the line. p. 35-36) exactly learning from observing others ,and the through others to observe their own, then the combined best quality of themselves and others. (p. 36) In my opinion, successful managers need to have a correct plan in order to achieve their positive goals. I think Walter Vieira missed this important point. Therefore, they should know how to ass ess whether their plan is feasible under environment efforts. For example, their plan need to change when financial crisis. Leadership skills Leadership is the central factor to influence a general managers success.In the book Successful Management, Neville (1995) believes that leadership has five master(prenominal) dimensions first, defining a vision is the preliminary stage. The best leaders are adroit at thinking the unique and picking up creativity . They are not faint-hearted of change. When the vision has been ascertained, leaders should be attain it (17-8). Second, he said that commitment to success is not only about eagerness, drive and the will to win, it is also about the interminability of preparation (18). Third, he believes that leader should communicate unabashedly and frankly.Because communicate can let the team learn more experiences from each other (18). Fourth, is repugn in status quo. Young managers should find more innovative solutions in the contrast market ( 19). Finally, is about the personal characteristics which are found in singular leaders. He highlights that flexibility, enthusiasm, integrity, willingness to experiment, ability to inspire others, to build relationship, to inspire trust, to communicate and to delegate, those are most routinely emphasize in outstanding leaders(19).He concludes that intellect is missing from these five dimensions, it is not nonessential, just because the role of leadership is too wide and it is not always necessary to have high intellect (19). To a large extent, I agree with Neville that the five main dimensions of leadership. I believe that communication is the most important part of the leadership, it permeates every aspect of the work. All managers, especially those leading teams, they communicating with the workforce is a demanding and rewarding task. Interpersonal talent and skills A successful businessman must possess good communication skills.He should provide different transmit for the s taff to express opinions which helps understandings of companys objectives. Effective communication with employees can hold thorough understandings of leaders decisions and expectations on their work. Maintaining a comfortable working environment canencourage staff to be more willing to talk to their senior level (219). Reduced status difference (219) and enhanced staff morale help collection of employees feedbacks andsuggestions, which contributes to company improvements and also help ensure all staffs are working towards same goals.I believe a successful businessman should be a good leader and team player. It is very important that a person can share his knowledge and experience with his employees. He should ensure his messages and decisions can be effectively convey to them. To build up a good relationship with staff, he should respect and encourage them to participate in issue and provide new ideas in work. Appreciation of work participation creates good staff morale and motiv ates them to work towards same organizational goals. A person will not be successful if he cannot work well with his subordinates and employees.Even if he has lots of marvelous ideas but no one is willing to work with him, he will only be a talented individual instead of a successful leader in the company. Risk management skills Living with, and challenged by risks, knap capital of Mississippi believed that risk has tightly stick onto the business management agenda. Just as the key, people who learn for robust the risk management can succeed in their business. No matter what risk are the leaders facing, the major challenge is that how to identify, tackle and monitor the risk, and to plan for understandable, maintainable and applicable disaster plan.Not much people could reach this in industry today, he thought, they can recognize the risks whereas fail to observe the dormant influence or lost the galvanic pile of controlling systems. There are only less than 30% organizations can manage the risk well even not in effective way. (p. 38) Moreover, Nick stated that the risk would be in some positive terms instead of negative. He regarded that people should not only keep improving in the way they manage the difficulties, but also focus on how to avoid from the negative impacts of self-satisfied when they are in advantages. (p. 42)I have been reminded by Nick Jackson that in every single moment, we cannot slack off from supervise the risk in any format. It required the all-round critical thinking. We cannot stop monitor the business from tackled one risk. It is hard and tough to handle this section in the business. And it is a great challenge to all businessman or administrator. g Conclusion The productiveness of work is not the responsibility of the worker but of the manager. Peter F. Drucker, Expert Management Consultant. All in all, the five abilities which stated on the above passages are inseparable.These five categories has shown that how can the manager strengthen the productivity and competitiveness in the industry. They can end up this topic with one sentence, Manage yourself well then lead the team to work with communication and risk management plan smartly. Within this project, we recognized that these skills are not only applicable in the business related industry, but also in different criteria of different industries. In 21st Century, people deserve better quality of services and the bosses deserve higher efficiency of works from their staff. As the result, this paper will be valuable to majority of worldReference Bain, Neville. , Management or leadership? Successful Management. 1st ed. London Macmillan shift Ltd,14-9. Print C. N. Cheng. Communication in Business. Introduction to Business Studies. (Revised Edition). 1st ed. Hong Kong Hong Kong Educational Publishing Co, 2009. 212-231. Print Kinicki, Angelo. , and Williams Brian K. The nature of leadership. Management A Practical Introduction. 4th ed. Americas, peeled Y ork McGraw-Hill/Irwin, 2009. 436-38. Print. Nick, Jackson. Risk is on the corporate agenda, but where does it fit? Managing Business Risk. 3rd ed.Great Britain Kogan Page Ltd,2006. Print Samson, Danny. , and Richard L. Daft. Leadership in organisation. Fundamentals of management. 2nd ed. South Melbourne, Victoria, Australia Thomson Learning Australia, 2005. 427-31. Print. Susanne Madsen. My StoryWork smarter not harderProjectsmart. co. uk. Projectsmart ,10 September 2011. Web. 10 April 2012 Walter Vieira. Manager to CEO corporate wisdom for survival and success. New Dehli/Thousand Oaks/LondonTejeshwar Singh for Response intelligence -stage Publications Inc,2005. print

Hershey chocolate Essay

Go the Hershey website to learn how to make Hershey coffee. (There is withal a print friendly version of the chocolate making mathematical operation at the end of the video.) Review the process and take a look at some of the videos. Pay particular attention to the process steps of milling and pressing, mixing the ingredients, and refining. In at least one paragraph, describe the costing system that you would recommend Hershey use to account for its cost of goods exchange and why. Include a few product cost you think would be traceable, which costs should be allocated and how Hershey should account and apply the manufacturing overhead costs. After reviewing the production videos on the Hersheys website, it seems likely the company would use process costing versus job costing techniques to track the costs associated with producing the various chocolate bars. Both techniques will range the costs associated with producing the candy bars, the difference is the process costing techniq ue allocates the total cost of production across all units of output. This usually entails accumulation of costs for for distributively one stage (or department) of production and assigning those costs to all output from that stage. I feel that the process technique best matches the production process Hershey utilizes.Even on their website videos, Hershey breaks the production of the candy bars into seven narrate functions, each with the end goal of developing the finest chocolate bars possible but with unique and separate processes. Just as Hershey has multiple processes, they will also pose multiple product costs. A few traceable product costs that come to head are associated with the seven website videos. The first film shows the production of the raw cocoa beans. The company will determine the costs associated with the purchase of raw materials such as the beans, sugar, and milk. This cost would be variable costs, as the production is increased, the volume of raw materials would also increase. The second stage of roasting and breaking the beans may also have variable inventory costs, and possibly a combination fuel costs to heat the roasters. Hershey will always have the fuel costs, but the amounts will convert depending on the amount of beans being roasted.The third stage of milling and pressing the beans will also have a combination of fuel cost to surpass the machinery. The process of blending and mixing of the chocolate looks to have a lot of direct labor and once again fuel costs to run mixers, heaters and dryers in addition to the variousemployees creating direct labor costs. The refining process runs many heavy granite rollers and mixers to develop the chocolate into a smooth texture and will also generate additional fuel and power costs. Finally, the wrapping and packaging stages will have variable costs for the materials to wrap and package the candy in cooking for transportation to the consumer.In each of the categories, fuels and power c osts are utilized in the preparation of the chocolate bars. This is one cost that one that could be allocated to each department. In addition, the facility costs, square footage and non direct labor may be allocated to the various departments. I feel Hershey should debit factory overhead for the actual costs incurred and credit Factory Overhead as these costs are allocated to Work in Process, which eventually gets transferred to expense as Cost of Goods Sold as shown via the forgo entries.

Phoenix Advertising Essay

It has been brought to my attention recently that the Roanoke branch office has recently experiencing many difficulties. The problem began after two of the apex commission people left the agency-an art director and an account executive. In addition, three of the graphic designers and four of the copywriters are threatening to quit because they feel their exploit is being rejected. These issues demand immediate attention. Our mission here at Phoenix Advertising is to bring quality and promised assurance to all of our clients. With that being said we carry to follow through with our mission statement and resolve this issue quickly.The Roanoke branch of Phoenix Advertising has around of our most valuable clients and it is our duty, as an executive squad, to tack particular pieces of information to help resolve the conflicts and miscommunications among employees. Therefore, I will compulsion your help in contacting that staff at Roanoke in order to deal with the dissatisfaction t hat exists among them, and to validate that the branch is compensating workers for their overtime.I am requesting Lisa Brown to contact the creative team at the Roanoke branch to investigate the reasons for rejection of creative work by the new management team. Susan Moore, I need you to review the new clients the branch has recently hired, and determine their capability. Lastly, I need Bryan Willis to develop a method that will provide some kind of solution tothe staff working overtime. A report explaining what you found out and your new procedures is expected in my office no later than heroic 2, 2014. afterwards I review each report individually, I will arrange a meeting on August 4, 2014 to review that status of the Roanoke branch. I am sure we can resolve all of the issues and ensure the success of the Roanoke branch, if we all work together on this. Thanks for your cooperation during this stressful time.CopiesExecutive teamGregory S. Forest, PresidentAdrienne Landall, Chief E xecutiveCullen Bowman, ChairmanJuliana Huff, President of Human ResourcesSusan Moore, Managing DirectorBryan Willis, Planning DirectorLisa Brown, Creative DirectorSubject Payroll Statements and PoliciesDear Larry,As you know from our meeting on August 4, 2014, in attempt to increase revenues, the Roanoke branch is accepting new clients without evaluating the effects of the new accounts on the current regorge workload. As a result, many of our employees on salary are being required to work longer hourswithout notice or compensation. This has resulted in the staffing issues and employee morale and productiveness to decline day by day. It is important that I communicate effectively and efficiently with the salaried employees and the hourly waged staff to guarantee the success of the company. I need to verify that the managers are using their resources to accommodate the employees during this period of work overload. I need you to provide me with payroll statements from the Roanoke bra nch for the last 12 months. Larry, I withal need you to provide a summary of the agency policies and the branch policies regarding overtime and compensation/benefit packages.I need to see you in my office by 6 pm today with all of the reports you have gathered. Please understand the extreme importance of this request. Feel free to include Sarah and Christopher to the project. We are a team and each branchs success is vital to the overall success of the entire company.Tomorrow I plan on reviewing the documents you have gathered for me. After I review all the documents, I will write the manager at Roanoke, explaining how to proceed with his staff to solve the issues mentioned. With that being said, I want to presently meet with you and Juliana in the morning at 9 am in my office. I know this is a stressful time, but I am overconfident this situation will be solved, as long as, we act professionally and proficiently.

Financial Planning Essay

Topic Describe the essential element to be a prosperous fiscal planner in Hong Kong and China. Explain the challenges of practicing ethical financial formulation in Hong Kong and China. The financial climate is changing constantly with the changing of numerous fundamental factors. Financial planning is one of the financial industries which gradually developed from a vague concept to a recognized specialty.However, this industry is still in a young stage so that at that place are more or less problematic issues concerned especially in some Asian districts like Hong Kong and China. It understructure be reflected particularly in the remuneration system and originalization of financial planners as well as public recognition for this industry. To reach a mature level, the prototypal step is establishing a public confidence. Therefore it is emergent for financial planners to think about how to become successful. As the role of servinging clients makes some near important deci sions of their lives, financial planners are required to satisfy a specific set of essential elements.The first and also the most basic requirement for them is severe professional knowledge. Financial planners should be able to implement a comprehensive process when help clients create financial plans and evaluate financial products packages independently to satisfy clients need. all-round(prenominal) professional knowledge in varied fields is crucial at the moment which including non only the financial related areas such as economics, demarcation management, and investment, insurance but also some other non-financial related areas such as psychology and sociology.Having the general base knowledge is the start but not the end in the career so that many financial planners are expected to have an expertise in particular field which can help them directly take an advantage spatial relation in satisfying some specific clients need. Take the insurance planning as an example a financ ial planner who is expertise in the insurance industry as well as having the basic all round knowledge will be most likely to gain the clients trust.In addition, the ongoing learning is also essential since the financial environment is changing every day and all the decisions should be made accord to the particular background environment. The Mainstays survey in 2006 shows that 85 percent of the population wants financial planners who are knowledgeable, skilled, and actually care beyond the transaction. And there are also other researches and evidences indicate that interpersonal skills are more important than technical expertise at most times.In this sense, the ability to have mad resonance with clients and show ones sincere and caring attitude would be crucial to attract new clients and establish a long circumstance relationship with existing clients. Also it is applicable in making financial plans and implementing related strategies because clients assistances and cooperation play a significant role in the process. This implication can be obviously reflected in the second step of a formal personal financial planning process, gathering client data and determining goals.When communicating with clients, an excellent financial planner would be able to extract useful information to understand the clients motivation as well as manage their expectations. It is no doubt that a good reputation is the most valuable thing for financial planners. In addition to professional knowledge and strong interpersonal skills, ethical behavior is a great concern. Proposed ethical behavior standards are based on principle of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence.These principles given(p) by CFP Board range to encourage public confidence to financial planning industry as well as explicitly identify practitioners responsibilities and obligations to different stakeholders. However, practicing these ethical principles in tru stworthy world whitethorn not an easy task. The following part of the essay will examine the challenges of practicing ethical financial planning in Hong Kong and China. With rapid riches accumulation and increasing investor demand in Hong Kong and China, a higher potential development opportunity for financial planning services had been witnessed.But at the same time, a higher expectation for quality financial planning with insufficient confidence from the pubic becomes a source of challenges for this industry. It appears to be tougher when considering the implementation of ethical financial planning since the nature of the industry is based on trust between clients and planners. These challenges are reflected particularly in the following aspects. Firstly, fee-based financial planning barely exists in Asia cod to the low consumer acceptance degree, which most likely to lead to an issue of interest conflicts.A financial planner is commonly compensated by commissions from selling p roduct quotas given by their companies and the selection of product may not be the best choice for clients. It also matters when considering the risk tolerance for financial planners income. Only commission-based compensation may result in unethical behavior practiced by financial planners to survive because of sharp drop in income during the business recession. Secondly, it is challengeable for financial planners to adjure high quality services without sufficient confidence and trust from clients.Financial planners must have deep understanding about their clients financial status, involve and concerns in order to give desirable advices. However, most Chinese consumers are not willing to offer their private information to people whom they are not familiar with, which make it difficult to decide the initial plan and identify the expected outcomes. It is true that an excellent financial planner should have the interpersonal skills of supporting(a) clients to provide related informa tion as much as possible.The contention about what degree an planner should pursue discovery conversations and how to justify the ethical position when making effort to gain the consumer information is concerned. Finally, the level of knowledge and education of financial services to the public are relatively low in districts for some undeveloped cities in mainland China, which may become a kind of misguided incentive of unethical behavior to financial planning services providers affected by the poor review mechanism and lapses of checks.It can be strongly reflected in the fairness issue such as disclose of information between planners and clients It will take long for this industry to develop mutually, some improvement measures can be practiced now. Efforts could be focused on several aspects including the closely monitor of cooperate governance, adequate training for practitioners competence and professionalism, as well as the education for the public.

How Music Affects Concentration and Work Efficiency Essay

Research on the brain has been immense. The scientific subscribe to of the brain has become an essential endeavor in understanding tender-hearted life. Music has been strand to create ponderous load on the brain. Psychologists and scientists stimulate been looking at the link between medication, with mood, work efficiency and tightness for years. In our experiment, we foretaste to find a correlation between a particular literary genre of checkup specialty and greater work efficiency and concentration. We plan to give Miami University students a brief reading comprehension test while listening to a certain genre of medicament (rock, rap, classical, instru psychical, techno, and no unison).After testing 90 students, we hope to reach a conclusion about what music dishs concentration and work efficiency. If we are able to come to a conclusion, we testament have a deliberate skill that will help college students perform better on tests and with homework.Introduction In this study we seek to examine the correlations between music and the sense. We hope to unwrap the profound impact that motley genres of music great deal have on concentration and comprehension. We hypothesize, that classical music, along with soothing and instru psychic music will realize concentration greater than rock and roll music or pieces featuring fast and wild rhythms.Our research question for this project is what specific music will wellbeing concentration and comprehension greatestNif at all. After researching other studies that have done on the link between music and concentration, we predict that listening to different types of music while answering questions will indeed affect the subjectOs concentration and work efficiency. In specific, we predict that classical music will help our brain with concentration tasks. From our various studies and tests we hope to discover this helpful link between musics affect on the mind and use the results to enact better habits in our own lives.Our group wanted to perform an experiment that has validity to a personOs everyday life. Because all of our group members are in college and feel the pressure and try on to accumulate good grades, we thought it would be a great idea to help ease the anxiety by finding a method to help with our studying. If our dead reckoning turns out conclusive, it will be beneficial for people to listen to classical music while studying. We have hopes that we will find a genre of music that helps the mind concentrate more efficiently. If we can accomplish our goal by coming to a definite answer to our question our experiment will be successful.We believe that this study is interesting because the vast majority of college students, ourselves included, enjoy music and seek elbow rooms to incorporate our music in studying. As college students, we withal want to find ways to improve our grades and success at taking tests. If we can find a way in which music benefits studying and comp rehension, we can involve music in our studies thus enhancing the enjoyment of time studying as well as enhancing our learning abilities. Music is powerful. It has the potential to evoke emotions and personality.Because of the profound effects music has on the human race, it has been a common link between cultures around the world for centuries. Not alone does music provide diversion and beautiful sounds, but it has an amazing effect on memory and learning. It has been found that people who study music have better GPAs and are higher achievers than those who arent involved in music. It is also true that Hungary, Japan and the Netherlands are the top three academic countries in the world and they all place a great emphasis on music education and participation in music.With that occurrence, the United States should promote music education in all students and stress the importance of music from an early age when children are curious and adventurous. Through recent scientific studies in that respect has been a much greater understanding on music and itOs mental effects. There have been countless studies performed to understand the complex correlation of the complicated brain and music. For example, in a study performed by Mark Tarrant, David Hargreaves, and Adrian North, the men desire to examine the manipulation of the mind based on music.In the study, they played music in a gym and examined the moods through testing their subjects immediately pursuit their workout. They offered the participants the ability to help out a charity, thus examining the affect that the music had on them. They measured two different groups, those who listened to annoying music and those who listened to shake music. The results revealed that the uplifting music did in fact manipulate the mind by causing the subjects to be more supportive, while the people who listened to the annoying music were short-tempered and unhelpful. some other famous study has dealt with how MozartOs ma sterpieces help concentration and memorization when studying for academics. It has been found in many different studies that because of the mathematical rhythms in MozartOs musical pieces, mental pellucidity is enhanced, therefore improving study skills. After researching this study, our group was able to construct our own hypothesis. The study also made us more hopeful that our hypothesis would turn our conclusive. An experiment performed by Teresa Lesiuk dealt with the effect of listening to music on work performance.She concluded that quality of work and time-on-task work was least efficient with no music. Her experiment showed that people produce more quality work while listening to music and they finish their work faster when listening to music. It also verbalize that work environments with music help employee moods. This study helps our experiment, but lacks the difference in music genres on work efficiency. With our experiment, we will be able to take this specific study ev en further by finding out what specific genre of music helps work efficiency and mood.Exploring multiple sources and studies performed by other scientists has exclusively helped strengthen our own experiment and shed light onto different facets of our study. With the help of outside information, we hope to provide a well constructed experiment with reliable results. From our research, we have built a vast base of knowledge on not only musics effects on the mind, but mood, tension, and other factors which could peradventure hinder our experiment. The knowledge we have gained on the diverse human responses to various genres of music have helped support our belief that music can in fact have both beneficial and harmful consequences.Our study seeks to examine not only our narrowly defined question, but several broader inquiries. Walking into King Library, there are a vast number of students hard at work while tuned into their iPods. In our study, we seek to examine what genre of music will be most beneficial. On a larger scale however, our study examines several broader topics and has many far reaching effects on students lives. The study will work to reach conclusions on how students can improve academic performance as well as comprehension and mental efficiency.In researching this topic, we have come across many studies that also explore the link between music and the mind. Hargreaves, David, Mark Tarrant, and Adrian North. The Effects of Music on Helping deportment. Environment and Behavior 36 (2004). 10 Sep 2005 . This was an extremely beneficial study was performed on this topic by Mark Tarrant, David Hargreaves, and Adrian North. These men sought to examine the manipulation of the mind based on music. They played music in a gym and examined the moods through testing their subjects immediately following their workout.They offered the participants the ability to help out a charity, thus examining the affect that the music had on them. They had two differen t groups which they measured those who listened to annoying music and those who listened were exposed to uplifting music. The results revealed that the uplifting music did in fact manipulate the mind by causing the subjects to be more supportive. Weinberger, Norman . The Mozart Effect A Small Part of the Big Picture. 7 ed. Sacramento Regents of the University of California, 2000. maven particular article we came across examined the effect of classical musics mathematical rhythms.According to their studies, the format of the mathematical rhythms in Mozarts pieces contain various factors which enhance mental clarity. Lesiuk, Teresa. The Effect of music listening on work performance. Psychology of Music. Vol. 33, No. 2, 173-191 (2005). . This diary article found results that indicate that in a work environment, quality of work is lowest with no music and time-on-task was longest with no music as well. It also states the environments with music help mood and annex quality of work wh en music is present. We hope that our experiment shows these results as well. Platel, H. The Structural Components of Music Perception.A Functional Anatomical Study. Brain. Vol 120, Issue 2 229-243. Oxford University Press 1997. This journal article relates to our experiment in a more medical standpoint. Their experiment explores the relationship between the cerebral structures and music appreciation. It is essential that we look at medical journal articles so we understand the medical basis to our experiment. Our mind is complex and extraordinary and music plays a profound affect on our brain and the way it works. McCraty, R. The Effects of Different Types of Music on Mood, Tension, and Mental Clarity. Pub Med. 1998 Jan 4 (1) 75-84. 7 Sep 2005. .This journal article touched on not only music and its effect on work efficiency, but also musics effect on tension, mood and mental clarity. Because it includes more than just mental clarity, it gives us more information and research to w ork with. The study found that designer music (music made to have a specific effect on the listener) increased positive feelings and concentration levels. This journal article has many similarities to our experiment and coincides with our hypothesis. Florentine, Mary. On the Behavioral Characteristics of Loud-Music Listening. Ear and Hearing The Official Journal of the American audile Society. 19(6)420-428, 1998 Dec. This journal discusses behavior and its link to listening excessively to loud music.They created a survey and test 90 subjects. Eight of the surveyors showed behaviors that are present in heart and soul abusers. This is relevant to our experiment because we will be using rock and other types of loud music to measure concentrationthis journal taps into the musical category. Sweeney, J. C. The habit of Cognitions and Emotions in the Music-approach-avoidance Behavior Relationhip. Journal of Services Marketing. Vol 16, 1 51-69. March 2002. Emerald Group Publishing Limite d. This study dealt with an experiment in a womens fashion store. This journal differed from the others we researched, however it touched on a different aspect of our experiment.The journal states that music affects customers perceptions of service quality as well as feelings of arousals in terms of a womens fashion store. After reading different journals like this one, it is obvious that music affects all aspects of life, not just mood and concentration. McCraty, Rollin. The Effects of Different Types of Music on Mood, Tension, and Mental Clarity. HeartMath 76 (2002). 17 Sep 2005 . A third study we found, looked into the connections between music, mood, and mental clarity. They sought to test the different effects that diverse genres of music had on subjects through psychological questioning and profiling. They tested four genres of music from various corners of the music world Grunge Rock, New Age, Classical, and Designer. The results were conclusive in revealing that grunge rock evoked hostility and greatly reduced mental clarity and motivation.We found this particularly important to our studies as we also plan to test primarily college students who commonly listen to grunge music. Carroll, Robert Todd. Mozart Effect. The Skeptics Dictionary 2005. . This article explores the effect that Mozart music has on the mind. It gives the history of the scientist who examined this issue. They included statistics to prove their case the students do better when they are exposed to Mozart and classical music. This article correlates to our hypothesis that classical music will improve concentration.

Chapter 5 Case Solutions

CHAPTER 5ACCOUNTING FOR GENERAL upper- subject area letter ASSETS AND CAPITAL PROJECTS OUTLINE NumberTopicType/TaskStatus (re 13/e) Questions 5-1Distinguishing usual smashing assets from fund capital assetsDescribeNew 5-2Capital asset disclosuresExplainNew 5-3Modified approach for root wordDescribeNew 5-4Capital lease accountingDescribe5-8 revise 5-5Asset impairmentExplainNew 5-6Use of capital switchs capitalExplain5-4 revised 5-7EncumbrancesExplainSame 5-8 structure work in progressExplainNew 5-9Multiple capital projectsExplainSame 5-10 excess assessment capital projectsExplainNew depicted objects 5-1Modified approach for infrastructure assetsEvaluate, write5-2 5-2Options for support existence infrastructureEvaluate, explainNew 5-3Political versus economic factors in financing capital improvementsEvaluate, explain5-1 retitled Exercises/Problems 5-1Examine the CAFRExamine5-1 revised 5-2VariousMultiple Choice5-2 revised 5-3General capital assetsJournal EntriesSame 5-4Capital asset disclosure statementFinancial Statement5-4 revised 5-5 exact classification and accountingCalculate JEsNew -6Asset impairmentJEs ReportingNew 5-7Special assessment financingJEs and Explain5-6 revised 5-8Statement of grosss and expendituresCompute FS5-5 5-9 anatomical structure fundJEs & FS5-7 revised 5-10Capital project transactionsJEs & FS5-8 revised CHAPTER 5ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS Answers to Questions 5-1. General capital assets argon those that are acquired with the re starting times of government activityal funds and that are reported only in the Governmental Activities column of the government-wide financial statements.Capital assets acquired with the resources of proprietary or fiduciary funds are reported in the financial statements of those funds, as salubrious as in the seam-type Activities column of the government-wide financial statements for enterprise fund capital assets. 5-2. Capital asset disclosures required by the GAS B are quite well illustrated by the City and County of capital of Colorados capital asset disclosures shown in Illustration 5-2.In brief, the disclosures should include policies for capitalizing assets and for estimating the useful lives of depreciable assets. In addition, the disclosures should include (1) beginning-of-year and end-of-year balances presentation accumulated depreciation separate from historical cost, (2) capital acquisitions during the year, (3) sales or other dispositions during the year, (4) depreciation set down showing measurings charged to each function in the statement of activities, and (5) disclosures regarding collections of art or historical treasures. -3. The limited approach permits a government an alternative to depreciation of certain eligible infrastructure assets. Eligible assets are parts of major ne iirks of infrastructure assets or subsystems of scratchworks, where a network efficiency be a route system, for example. If the government meets two requirements it can avoid reporting depreciation on its eligible infrastructure assets.The two requirements are (1) management of eligible infrastructure assets using a management system that includes an up-to-date breed of eligible assets, condition assessments and results using a measurement scale, and estimates of annual cost to maintain assets at the conventional and disclosed condition level, and (2) documentation that the assets are being preserved at or above the accomplished condition level. If the government fails to maintain the assets at or above the established condition level, it must revert to reporting depreciation for its nfrastructure assets and discontinue use of the modified approach. 5-4. If the lease meets one or more of the FASB SFAS 13 criteria for a capital lease, as discussed in this chapter, the lease must be reported as a capital lease. If the lease is deemed to be a capital lease, the governmental fund journal entry on the date of inception will in clude a debit to Expenditures and a Credit to Other financial punt SourcesCapital Lease Agreements.The journal entry at the government-wide level will be the same as that used in business accountinga debit to Equipment and a credit to Capital Lease Obligations Payable. Ch. 5, Answers (Contd) 5-5. Disagree. GASBS 42 requires the government to assess assets for which value might consume become impaired. If impairment is judged to have occurred, then the amount of impairment loss must be estimated using one of the approaches described in GASBS 42. The amount of loss will be recorded as an expense of the appropriate function or schedule and as a reduction in the carrying value of the asset. -6. The use of a capital projects fund is ordinarily required for major construction projects requiring large amounts of financing. The use of a capital projects fund whitethorn also be useful for purchases of high-cost items such(prenominal) as acquisitions of land, buildings, and high-cost equipment. A capital projects fund must also be used whenever required by law or grant provisions. 5-7. To facilitate preparation of financial statements at the end of the fiscal year, each(prenominal) operating and budgetary accounts should be closed, including Encumbrances.However, since the project is still underway and contractual commitments still exist to conciliate contractors when billed, it is essential that Encumbrances be reestablished at the beginning of the next year in order to maintain budgetary control over outstanding commitments. 5-8. All ordinary and necessary costs to construct the asset are appropriately reported as construction work in progress. This includes all legal costs, engineering and architectural services, site preparation, materials used, and billings from contractors, among other items.Interest incurred during construction is not capitalized for general capital assets, however. Construction Work in Progress is found in the ledger for governmental activities at the government-wide level for general capital assets, and not in the ledger for the capital projects fund. In the capital projects fund, all capitalizable items are debited to Construction Expenditures. 5-9. For a multiple-projects fund, encumbrances and construction expenditures should be identified in a demeanor that will indicate to which project each applies.This can be accomplished by adding a project identifier to the Encumbrances and Construction Expenditures accounts, such as Encumbrances? Street Project or Construction Expenditures? Project No. 10. Identifying encumbrances and expenditures by project facilitates comparisons to budget for accompaniment projects and presentation of cash and expenditure statements for multi-project operations. For example, the City of Smithville Continuous Computerized Problem that accompanies this text has two capital projects funds named the Springer Street Project and the Alzmann Street Project. 5-10.Capital projects fund ac counting for peculiar(a) assessments is virtually identical in both of these situations. The only difference is that the credit entry for issuance of spare assessment bonds is to Other pay SourcesContribution from Property Owners if the government assumes no responsibility for the debt, rather than to Other Financing SourcesProceeds of Special Assessment Bonds with Governmental Commitment. Solutions to Cases 5-1. a. Discuss with students various methods of obtaining financial statements and getting benchmark data to make comparisons across entities.Professional associations such as the Government Finance Officers Association, National Association of State Auditors, Controllers and Treasurers, and Association of School Business Officials publish best practices for various areas of public finance, accounting, and financial reporting. Since each student will have a different list of cities, ask them to compare their results with other students and look for patterns in which types a nd sizes of governments make alike(p) choices in accounting methods, particularly, in this case, regarding choice of infrastructure asset accounting methods. . An important communication skill for students to stamp down is to convey technical financial accounting information in an effective way so that ending makers find the information useful for making informed decisions. You may wish to ask students to show their memoranda or essay to a finance director of a city and get their opinion around whether the student has captured the fundamental issues relating to infrastructure and communicated it in a professional and informative manner. c.During the implementation years of GASBS 34, the GFOA and more or less state auditors released policy statements indicating to governments that they did not have to capitalize infrastructure assets to meet minimum standards for the GFOAs certification of Achievement for Excellence in Financial Reporting or the states reporting compliance regu lations. Despite such statements, most governments that sought a clean audit opinion voluntarily developed inventories of infrastructure and followed generally accepted accounting principles for infrastructure reporting.For most general purpose governments, omitting infrastructure assets would cause their statement of net assets to be materially misstated resulting in a qualified or adverse audit opinionlikely the latter. A government receiving an adverse audit opinion may experience a downgrading of its bond rating and thus facial expression considerably higher cost of borrowing. 5-2a. Option (1), the sales tax approach, offers the advantage of spreading the burden for infrastructure improvements across a larger number of taxpayers, including many non-residents who visit or shop in vacate City.From an equity standpoint, the sales tax approach has appeal because infrastructure improvements enhance the city for visitors and shoppers, as well as for residents. Disadvantages of this approach are the necessity of scheduling and conducting a circumscribed election and the political hazard of advocating for a tax increase. Option (2), the development fee approach, has the advantage of being relatively invisible to the public and efficient to administer since the number of developers will be relatively small.Although real estate developers can be expected to pass the development fee to rising homeowners and businesses, property values may be change magnitude by enhanced infrastructure (e. g. , improved streets and highways, adequate storm drainage, and so forth). As a result, taxpayers may recoup a portion of the development fee. The main disadvantage is the potential inequity of the development Ch. 5, Solutions, Case 5-2 (Contd) fee since a relatively high financial burden is imposed on untested homeowners and naked businesses for infrastructure expansion and improvement that may substantially benefit the entire city.A city council member may prefer the dev elopment fee approach since it holds less political risk than asking residents to approve a tax increase. The city manager may prefer the sales tax approach as retail sales may be less volatile than new construction, which can be strongly wedged by the local, regional, and national economies. Since the city manager is responsible for ensuring that infrastructure stays abreast of population and new development, he or she may prefer a more stable source of infrastructure financing.Current homeowners and businesses might be expected to prefer the development fee approach since those fees would not directly impact on their property and would place the incidence of the tax on others. It would be surprising if new homeowners or new businesses favored the development fee approach as they would probably view it as inequitable. b. Accounting and financial reporting would be minimally impacted by which option is ultimately chosen. Either way, on that point is revenue to be recognized in a ca pital projects fund (a tax in one case and development fee in the other).Accounting for infrastructure construction would not be affected by the source of financing. 5-3. a. Regardless of how a student voted, he or she had plenty of company. With a record voter semi for such an election, the half-cent sales tax was barely approved. Only 51. 7 percent of the voters in Brown County voted for the tax. As expected, 56. 5 percent of the voters in the City of Brownville voted against it. Except for a few precincts in other cities and towns, voters right(prenominal) Brownville voted overwhelmingly in support of the tax.While there is no right answer to this question, each student should have provided a rationale similar to one of the arguments provided in the case. A few students may develop funny arguments in support of their vote. Generally, the students who voted for the proposed tax must have thought the county-wide benefits of improved roads and bridges were expenditure the extra tax costs and outweighed the possible detrimental effects on the Citys financial flexibility.Those who voted against it presumably did so using the rationale expressed by some voters in exit polls, why should I pay more for roads that will benefit rural county residents more than me. b. Although some students may profess an unselfish motivation for their vote, most are expected to reflect economic rationality. That is, they would likely vote for the sales tax increase if they were an owner of a large commercial or manufacturing property, and would therefore realize a net economic benefit from the property tax rollback and sales tax increase.Even then some students may justify the yes vote on the basis of the county-wide benefits of improved infrastructure rather than their financial self-interest. Ch. 5, Solutions, Case 5-3 (Contd) c. Again, there is no right answer to this question. Students (Brownville voters) who voted against the tax probably would argue that residents who pri marily benefit should pay for the improvements (i. e. , special assessment financing should have been used). Those who voted for the tax probably would argue that the broader (county-wide) economic benefits of improved county infrastructure justifies inancial support by all county residents. Some who voted for the tax may have preferred special assessment financing but possibly feared that failure to approve the sales tax would doom the needed improvements altogether. d. The Countys procedures for accounting for the financing and the capital projects activities will differ slightly for the option approved by the voters compared with those that would have been used if special assessment financing had been used.But, as explained in Chapter 5, the procedures for accounting for special assessment-financed capital projects are quite similar to those for other capital projects, especially when, as is often the case, the government is committed in some manner for repaying debt issued for t he project. Since bond financing is typically used for special assessment capital projects, accounting for both special assessment taxes and debt service would have been required for an extended period, probably ten years or more.Whether these differences would be termed significant accounting issues is a matter of conjecture they might be considered significant by the financial staff of the County. Solutions to Exercises and Problems 5-1. Each student will have a different annual report, so he or she will have different answers to questions in this exercise. The various kinds of capital assets and capital projects, wide revolution of financing mechanisms, and different accounting policies used in and by governments should generate interesting classroom discussions. 5-2. 1. a. 6. c. 2. d. 7. d. 3. c. 8. c. 4. a 9. a. 5. b. 10. c.

Emerging Economies

Business outgrowth in uphill Economies Business discipline in Emerging Economies Coursework Coursework Contents A. In your opinion, what is the future of emerge economies? victuals your answer with relevant evidence. (2000 words)3 Introduction4 What be emergent economies4 Future of emergent economies5 Micro scotch approach6 Long-term sparingal perspectives7 The Euro perspective8 Facts close to the future9 Forecast11 Opinion12 Risks for appear markets12 B. critically con range the factors driving the growth of emerging MNEs. employ relevant company and kingdom examples. calciferol words)14 What argon MNEs (Multi case Enterprises)15 Facts about MNEs15 C. How formidable is the arguing posed by emerging markets MNEs to the Western companies? Could it be country- or/and sector-specific? (500 words)18 References21 Business Development in Emerging Economies Coursework Submission A. In your opinion, what is the future of emerging economies? Support your answer with relevant e vidence. (2000 words) B. Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. (500 words) C.How formidable is the competition posed by emerging markets MNEs to the Western companies? Could it be country- or/and sector-specific? (500 words) A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words) Introduction What ar emerging economies The emerging markets story began al most(prenominal) thirty age ago. In the mid-1980s, developed economies started on a debt-fueled consumer spending binge that lasted more than two decades. This provided an incredible chance for developing economies.So, emerging markets or emerging economies ar nations with social or business activity in the process of fast growth and industrialization. The seven largest emerging and developing economies by either nominal realize Domestic Product or GDP (Purchasing Power Parity) are china, bra zil nut, Russia, India, Mexico, In have onesia, and Turkey. Some characteristics that define an economy as emerging are the following * Intermediate income its PPP per capital income is comprised between 10 % and 75 % of the add up EU per capital income. Catching-up growth during at least the last decade, it has experienced a b encounter economical growth that has narrowed the income gap with advanced economies. * Institutional transformations and economic opening during the same boundary, it has under repeln profound institutional transformations which contri only whened to integrate it more deeply into the world economy. Hence, emerging economies appears to be a by- harvest-home of the current planetaryization. Emerging markets are sought by investors for the prospect of high returns, as they often experience faster economic growth as measured by GDP.Investments in emerging markets come with much(prenominal) greater risk due to political instability, domestic base problems, currency volatility and limited equity opportunities ( some large companies may console be state-run or private). Also, local stock exchanges may not offer liquid markets for outside investors. These countries do not section any common agenda, so in that respect are heterogeneous lists of emerging markets, developed by various analysts such(prenominal) as The Economist, the International Monetary Fund, Dow Jones etc.. If we had to make a outline list it would be the followingAfghanistan Estonia Lithuania Qatar Sudan Argentina Hong Kong Malaysia Romania Taiwan Bahrain Hungary Mauritius Russia Thailand Bangladesh India Mexico Saudi Arabia Turkey Brazil Indonesia Morocco Singapore Tunisia Bulgaria Iran Nigeria Slovakia UAE chile Israel Oman Slovenia Ukraine chinaware Jordan Pakistan South Africa Venezuela Colombia Kuwait Peru Sri Lanka Vietnam Czech Republic Latvia Philippines South Korea Sudan Egypt Estonia Poland Qatar Taiwan Future of emerging economiesIn the knightly deca de emerging markets have established themselves as the worlds best sprinters. As straight crises tripped up America and then Europe, China barely broke stride. Other big developing nations paused for wind only briefly. Investors bet that rapid growth in emerging markets was the new normal, while leaders from capital of Red China to Brazil lectured the world on the virtues of their state-centric economic models. More than 80% of the worlds race lives in countries with emerging economies. As we open fire see in Figure 1, the share of emerging markets in globose output has increased from below 20% in the early 90s, to more than 30% today.Considering the exist of living differences, the share of emerging economies in world GDP already exceeds 45%, which is 13 division points higher than in the early 90s. According to the International Monetary Funds (IMF), realness Economic Outlook, this share leave behind exceed 50% in 2013. Figure 1 Share of emerging economies in world GDP in recent periods While these economies are already large, they keep festering strongly. Growth in emerging economies and increased resistance to economic and financial shocks mean good intelligence information for the planetary economy, which can definitely rely on the dynamism of emerging economies more than it did in the past.The residents of emerging economies countries benefited a lot from this rapid growth, as it led to rising living standards. During the period 2000-2009, the per capita GDP in these countries increased by more than 70%. The integration of emerging economies in world markets for goods and services happened smoothly. Regarding worldwide exports of goods and services, the share of emerging economies almost doubled between the early 90s and 2010, reaching 35%. Microeconomic approach The most important role of the emerging economies and reflected at the micro level.Specifically, six of the 25 largest companies in the world, for example, in terms of market valu e come from emerging markets. These companies are listed below, according to orbicular 2000 list for 2012, an annual ranking of the top 2000 public companies in the world by Forbes magazine. The ranking is base on a mix of four metrics sales, profit, assets and market value. Rank Company Headquarters labor Profits ( meg $) Assets (billion $) Market Value (billion $) 05 Industrial and Commercial confide of China China Banking 25. 1 2,039. 1 237. 4 07 PetroChina China Oil and bobble 20. 304. 7 294. 7 10 Petrobras Brazil Oil and gas 20. 1 319. 4 180 13 China Construction Bank China Banking 20. 5 1,637. 8 201. 9 15 Gazprom Russia Oil and gas 31. 7 302. 6 159. 8 19 Agricultural Bank of China China Banking 14. 4 1,563. 9 154. 8 Long-term economic perspectives The present of emerging economies seems promising, yet the future seems even better. According to forecasts for pine-term growth based on demographic trends and models of capital ingathering and productivity, it seems that t he role of emerging economies in the orbiculate economy go forth be even larger.More specifically, according to various surveys, the growth prospects of these economies are striking. The share of Brazil, Russia, India and China, if considered together, could by 2025 correspond to a rate of more than 50% share of the current six largest industrialized economies and to e very(prenominal)wherecome it in less than 40 years. The Euro perspective From the perspective of the euro, the ontogenesis role of emerging economies provides various opportunities. More specifically, the dynamic growth of emerging economies is increasing demand for authentic goods and tradable services where the euro order has a comparative advantage.Also, competition from emerging markets increases motivation for further progress in structural reforms in the euro zone, which are either way necessary. In addition, the Eurozone is capable of seizing new opportunities created by emerging economies. Exports and im ports of goods and services of the euro zone represent a significant share of the GDP. Considering this, it is remarkable that the share of the euro zone exports (excluding trade inside the euro zone) to Asia increased from 19% in 2000 to 22% in 2009, while exports to the United States lessen from 17% to 12% over the same period.Chinas share in total exports of the euro zone increased from 2% in 2000 to 5. 3% in 2009. Exports to Russia more than doubled over the same period from 1. 8% to 3. 9%, thus exceeding the exports to Japan, although the share of Russia was higher in 2008 (5. 0%), before the global trade collapsed. A corresponding trend was observed in India, though on a much smaller scale, as Indias share was 1. 7% of euro zone exports in 2009. The crisis When the global financial crisis struck, emerging economies responded energetically China launched a huge stimulus, Brazils state-owned banks avished credit, interest place were slashed. They succeeded so well that by 201 0 they were hale to reverse course. To squash price pressures they raised interest rates, curbed speculation and allowed their currencies to appreciate. With a lag, that tightening has had the predicted result. Still, the slowdown has proven much sharper than endureed. Europes sovereign-debt crisis is partly to blame. It has sapped demand for the developing worlds fabricate exports and restrained prices of their commodities South Africa is a notable casualty.European banks had been conduits for foreign money flowing into emerging markets. Now they are pulling back as they grapple with the problems at home. The issues of slowing growth, high government debts, rising unemployment, and senescent populations within developed economies such as the United States presented headwinds for emerging market countries, which in the past had been much more reliant on the health of developed markets. However, because of earlier fiscal discipline, countries such as China, Brazil and Indonesia w ere able to stimulate economies on their own with low interest rates and massive stimulus packages.The important banks were recourse to those who needed to borrow money, in order to avoid a major crisis. In declination 2011 and February 2012, the European Central Bank announced long-term refunding, while European banks borrowed about 1 cardinal euros. The U. S. Federal Bank, along with many central banks from developed countries went on with liquidity injections. That move resulted to massive relief, as the markets stabilized and industrial production increased again. The question then was if this would last, allowing the global economy to keep on growing.This was more of c erstrn for emerging economies, which were considered to be safer than economically advanced countries. many a(prenominal) of them faced difficulties when they actually started developing, as they had to deal with massive poverty. Facts about the future Sadly, many emerging-world governments have interpreted the crisis in rich-world finance as a reason to preserve a more muscular role for the state. China has reserved roughly sectors for state-owned enterprises. In Brazil the big state- affirmled cover company, Petrobras, and the tate-controlled banks have become virtual appendages of government insurance policy. Having so much leverage over the economy is indeed helpful during a crisis, but in the long run it pass on stifle competition, starve the private sector of capital, deter foreign investment and know-how, and cut through with(predicate) corruption. When the dust settles, emerging markets will still be growing faster than they did before 2003. But get back up to the speed of the past decade will mean maintaining the macroeconomic discipline and returning to the microeconomic reforms that made it possible in the first place.A strong infrastructure has significant long-term benefits, such as a growing manufacturing base, an educated workforce and more mobile, and therefore more easily employable, societies. The build-out of strict asset infrastructure in China, which has been strong over the past 15 years, continues today, particularly as the population becomes more urbanized. Brazil also continues to invest in infrastructure, with estimates in excess of $800 billion in infrastructure spending as the country prepares to host the 2014 FIFA World Cup and the 2016 Summer Olympic Games. For example, the case of India.Since 2009, India has purposely inflated its deficit in order to offset the economic slowdown. monetary expansion was very in force(p) in promoting growth of demand and supply after several years restriction. However, now the expansion is limited. opposed developed countries, most developing economies are under puffinessary pressure, which can be worse than additional expensed. Thus, the short-term future seems to be reserving various dangers. Nevertheless, medium and long-term perspectives about emerging economies are positive. Countrie s that drive home money, invest in human capital and provide good governance can achieve rapid growth again.India, for example, saves and invests more than 30% of its GDP, devoting a significant percentage of these sources to infrastructure. Thus, the possibility of India exaggerateing its business increases. Investors seem to take seriously into account this perspective. They seem to be very hesitant towards investments in private equity funds. Nonetheless, they provided India with 43,8 billion dollars in long-term reckon investments during 2011-2012. Despite the current crisis, the outlook seems encouraging for new(prenominal) emerging economies too, such as Brazil, China and Indonesia.Its obvious that during the second half of 2011, developing economies that have faced the economic crisis kind of well, started to feel pressure as the euro zone crisis was getting worse. Growth in Brazil, India, China and other countries noted a remarkable slow down. Global economy seems to be focusing on fast-growing(prenominal) markets that are outside BRIC (Brazil, Russia, India and China) as there is the perception that they are capable of integrating faster than the BRIC countries into the global economy due to a look of trade, investment, technological and cultural criteria.These markets achieve constantly high rates of economic growth at the same level with the BRIC countries. Turkey, Indonesia and Mexico come just after China and India in terms of GDP growth between 2000 and 2015. Peru, Colombia, Venezuela, Malaysia and Vietnam, along with some countries and regions of Africa are ready to be include in the list with the most dynamic countries in the world, regarding investments. Its becoming more and more admittible that these countries are the most significant sources of income for the future years.Same prospects seem to appear for South Africa, Indonesia, Mexico and Turkey, which are considered to be the most free-enterprise(a) ones. Executives from all arou nd the economy world claim that they are planning to raise their investments in these markets. As goods and services trade goes back to the levels it was before the financial crisis and the flow of funds appears to steadily increase, technology and cross-border exchange of ideas will continue forcing growth and promoting globalization. Forecast Forecasts concerning the period of time from now and by 2015 dont seem really encouraging for Europe and emerging economies.The last years liquidity injection was deemed to be an efficient policy, but it was certainly not a radical solution. No crisis looms, but serious concern is justified, for the emerging world faces two distinct risks a cyclical slowdown and a longer-term erosion of potential growth. The first should be reasonably easy to deal with. The second will not. Fiscal discipline and investment has delivered for emerging economies up to this point. This can significantly contribute to future growth. If Europe can succeed in promo ting large fiscal and banking reforms and put its economy in order, the crisis will probably subside.Otherwise it will remain until the end of 2014 and then Europe will be before high risk once again. Regarding the developing countries, they will definitely be influenced by the U. S. and Europe the two largest economies in the world. Their slowdown will directly affect all developing countries. The analyst, Jean Louis Martin claims though, that emerging economies will account for 52% of the global economy. His forecast is based on current prices and exchange rates-compared with 38. 9% in 2011. Opinion Looking through the past as thoroughly as I can, and considering the risks, my opinion about a potential recovery tends to be negative.A slump in these countries thus looks unlikely so, however, does a return to the past decades growth rates. China, for one, doesnt want it. Its economy has become over-reliant on investment its leaders want to guide in a phase of more sustainable but slower growth, led by consumers. beyond China, it is increasingly clear that many emerging economies have been growing beyond their underlying potential. Optimists once aspect India could sustain Chinese-style growth of over 9% a year but that led to stubborn inflation and current-account deficits, suggesting that Indias potential growth may be more like 6-7%.There is no guarantee that emerging markets will experience stable, sustainable development, since numerous economic and political risks are lurking. Emerging countries are still vulnerable to economic changes that occur in developed countries. Risks for emerging markets Theres a number of potential sources of macroeconomic and political instability such as high fiscal deficits, over-dependence on oil revenues and gas, increasing disparities in income leading to social tensions and acroeconomic and financial instability. Many reports also highlight the pressures on native resources from the rapid growth in emerging economies , including the increasing difficulty of keeping global warming within the maximum limit of two degrees Celsius. While new unconventional sources like shale gas have decrease fears of depletion of fossil fuels, the risks associated with the most unstable global climate patterns are expected, to follow a steady upwards trend.Issues such as taxation of executive compensation, the proper scope of financial regulation, and international MA have come to the foreground in the wake of the crisis, and stark international differences in opinions and policies on these matters are already evident. The differences will only become more pronounced as discussions about the appropriate near-term policy response to the crisis give way to debates about who should pay and how much.The multinational firms best able to anticipate and control the related risks and opportunities will have the strongest competitive edge. B. Critically discuss the factors driving the growth of emerging MNEs. Use relevan t company and country examples. (500 words) What are MNEs (Multinational Enterprises) As the name implies, a multinational corporation is a business concern with operations in more than one country. These operations outside the companys home country may be linked to the parent by merger, operated as subsidiaries, or have considerable autonomy.Firms tend to locate where barriers are easier to overcome. For firms in emerging countries, this initially meant locating in nearby countries with regional, cultural or language ties (so-called South-South FDI). This trend seems to be changing, however, as firms from emerging economies gain prominence. Facts about MNEs There are over 40,000 multinational corporations currently operating in the global economy, in addition to approximately 250,000 overseas affiliates lead cross-continental businesses.The top multinational corporations are headquartered in the United States, Western Europe, and Japan they have the capacity to determine global t rade, production, and financial transactions. Multinational corporations are viewed by many as favoring their home operations when do difficult economic decisions, but this tendency is declining as companies are forced to respond to increasing global competition. Multinational corporations follow three general procedures when seeking to access new markets * merger with or direct acquisition of existing concerns * resultant market entry and joint ventures Heres an example of incidental market entry, which often includes foreign direct investment, which involves the establishment or acquisition of concerns operating in street corner markets related to the parent companys product lines in the new country of operation. Japans Sony Corporation made use of sequential market entry in the United States, beginning with the establishment of a small television assembly plant in San Diego, California, in 1972. For the next two years, Sonys U. S. perations remained confined to the manufactur e of televisions, the parent companys leading product line. Sony branched out in 1974 with the creation of a magnetic tape plant in Dothan, Alabama, and grow further by opening an audio equipment plant in Delano, Pennsylvania, in 1977. After a period of consolidation brought on by an unfavorable exchange rate between the yen and dollar, Sony continued to expand and diversify its U. S. operations, adding facilities for the production of computer displays and data storage systems during the 1980s.In the 1990s, Sony further diversify it U. S. facilities and now also produces semiconductors and individualized telecommunications products in the United States. Sonys example is a classic case of a multinational using its impression product line to defeat indigenous competition and lay the foundation for the sequential expansion of bodied activities into related areas. Multinational corporations are thus able to penetrate new markets in a assortment of ways, which allow existing concer ns in the market to be accessed a varying degree of autonomy and control over operations.Multinationals today are viewed with increased suspicion given their perceive lack of concern for the economic well-being of particular geographic regions and the public impression that multinationals are gaining power in relation to national government agencies, international trade federations and organizations, and local, national, and international labor organizations. Despite such concerns, multinational corporations appear poised to expand their power and influence as barriers to international trade continue to be removed.They share many common traits, including the methods they use to penetrate new markets, the manner in which their overseas subsidiaries are tied to their headquarters operations, and their interaction with national governmental agencies and national and international labor organizations. In particular, factors that benefit MNEs growth are * labor is relatively cheap * Ow nership advantages encompass the development and ownership of proprietary technology or widely recognized imperfections that other competitors cannot use.Empirical analysis shows that multinationals are often technological leaders that invest hard in developing new products, processes and brands, which are then kept confidential and are protected by intellectual property rights * technology being adopted is leapfrogging much of the legacy IT infrastructure that is still in use in developed countries * Localization advantages refer to the benefits that come from locating near the final buyers or closer to more abundant and cheaper production factors, such as expert engineering or stark materials multinationals internalize the benefits from owning a particular technology, brand, expertness or patent that they find too risky or unprofitable to rent or license to other firms due to the difficulties of enforcing international contracts * management and production expertise from the pa rent concern Other concerns raised by respondents included government regulation, established competition, and the availability of communications and digital infrastructure. C. How formidable is the competition posed by emerging markets MNEs to the Western companies? Could it be country- or/and sector-specific? 500 words) Right now more than 20,000 multinationals are operating in emerging economies. According to the Economist, Western multinationals expect to find 70% of their future growth there40% of it in China and India alone. But if the fortune is huge, so are the obstacles to seizing it. On its 2010 Ease of Doing Business Index, the World Bank ranked China 89th, Brazil 129th, and India 133rd out of 183 countries. Summarizing the banks conclusions, the Economist wrote, The only way that companies can prosper in these markets is to cut costs relentlessly and accept profit margins close to zero. Western companies have had many difficulties debut emerging markets to date, as the y seemed to apply a wrong entering strategies, which were due to lack of knowledge and experience. Many companies have already been lured by the promise of profits from selling low-end products and services in high mess to the very poor in emerging markets. And high-end products and services are widely available in these markets for the very few who can afford them You can buy a Mercedes or a washing machine, or stay at a nice hotel, almost anywhere in the world.Our experience suggests a removed more promising place to begin between these two extremes, in the vast middle market. Consumers there are defined not so much by any particular income band as by a common circumstance Their needs are being met very poorly by existing low-end solutions, because they cannot afford even the cheapest of the high-end alternatives. Companies that devise new business models and offerings to better meet those consumers needs affordably will discover enormous opportunities for growth.Take, for examp le, the Indian consumer durables company Godrej & Boyce. Founded in 1897 to sell locks, Godrej is today a diversified manufacturer of everything from safes to hair dye to refrigerators and washing machines. In workshops we conducted with key managers in the appliances division, refrigerators emerged as a high-power area Because of the cost some(prenominal) to buy and to operate them, traditional compressor-driven refrigerators had penetrated only 18% of the market. The markets and operating environments in India are radically different fromMNCs home markets, making it possible a wide range of competitive encounters and outcomes. For example, there are several layers of product and customer segments that reward different approaches from competitors, making it possible for both local challengers and patient MNCs to find different starting places and, over time, compete more directly. Competition appears to be formidable for Western companies, since they are not really qualified to d eal with MNEs of emerging markets, which keep on developing.Furthermore, it seems that the competition could definitely be both country and sector specific, as, regardless of the difference in trends perceived as important and the reported level of preparedness, companies, both Western and emerging multinationals, take a similar approach to the critical actions needed to address emerging countries consumer market trends. These include developing new products and services, adapting the brand strategy, conducting market research, and adapting the marketing communication strategy.References * Contessi S. , El-Ghazaly H.. (2010). Multinationals from Emerging Economies Growing but Little Understood. Availablehttp//research. stlouisfed. org/publications/regional/10/07/multinational. pdf. * Matthew J. Eyring, Mark W. Johnson, and Hari Nair. (2011). New Business Models in Emerging Markets. Available http//hbr. org/2011/01/new-business-models-in-emerging-markets/ar/1 * Ernst & Young. (2013). Focusing on emerging markets. Available http//www. net. gr/? i=news. el. article&id=338400 * Jean Louis Martin. (2012). Emerging Economies in 2020. Available http//www. capital. gr/news. asp? id=1497484 * mystical author. (2013). Challenges in development of emerging economies. Available http//www. stockwatch. com. cy/nqcontent. cfm? a_name=news_view&ann_id=165565 * K. Ghosh and L. Yu. (2012). The future of emerging markets. Allianz Global Investors. 12 (1), 1-4 * AmCham and Booz & Company.