Multiple physics Investigatory Essay

Repulsorlifts as a Method of Stable Magnetic Levitation | Repulsorlifts were used in the study to find out if they can be used to replace the wheels of a conventional car. It was hypothesized that it will be able to lift a car using magnetic repulsion forces. The different magnets were tested individually with the usual tests for magnetic strength, size, and temperature increase, which were done in the preliminary testing. The prototype road and car were then constructed based on the specifications that had been identified after the preliminary testing. The prototype car’s magnets were permanent magnets while the road magnets were electromagnets. They had been oriented so that the magnets would repel each other. | Investigatory Project in Physics Balloon Powered Car When it comes to powering a race car, there are a ton of different options. Some cars are powered by gasoline, diesel, or other combustible fuels, or you can even power miniature race cars using a mousetrap! In the Balloon Powered Car, we’ll show you how to build a racer that uses the power of air pressure to roll across a room. Objectives: a.) to create a balloon powered race car for maximum speed and distance b.) to incorporate Newton’s Laws of Motion Materials: * Foam core or corrugated cardboard * Wooden barbeque skewers * Regular cardboard * Straws * Tape * Balloons * Scissors * Wire cutters Procedure: 1.) Start off by cutting the chassis of your car. We don’t condone the use of blow torches or saws during Sick Science experiments, so you have to create the chassis using scissors and foam core (corrugated cardboard works great, too). Cut a 6Ãâ€"3 inch piece of your chosen material using the scissors. 2.) A car is nothing without axles. Given the size of your car, wooden barbeque skewers will make perfect axles. Use wire cutters to snip two 4†³ pieces of skewer. 3.) You need to mount the axles to your chassis in a way that allows the axles to turn freely. For mounts, cut two 3†³ sections of straw and use tape to fix the mounts to the front and back (3†³ sides) of your chassis. 4.) Now that you have axle mounts, mount your axles! Slide the wooden skewers through the middle of the straws. 5.) Axles are great, but humans invented the wheel for a reason. The wheel was invented for use on the Balloon Powered Car! Use scissors to cut four quarter-sized pieces of regular cardboard. If it helps, you can trace a quarter or circle of similar size to give yourself some guidelines. 6.) Push the cardboard circles onto the skewers, one on each end of both skewers†¦.

The Hunger Games-Lessons Learned

The Hunger Games was about the importance of keeping your identity when you are fighting for your life. This theme made me question myself on what I would do under the same circumstances. Wicked I fight for my life given the situation? Wicked I do whatever it takes to stay alive even if it meant committing murder? Wicked I be able to keep my self-worth and morals during this, or would I Just lose myself along the way?PETA Mallard and Catkins Evergreen both had to make these hard-hitting decisions hen they were forced to compete in the reality TV show The Hunger Games, where there is only one rule: kill or be killed. PETA and Catkins are both from District 12 where they are exposed to starvation, war, violence and poverty. Panel is divided up into 12 districts where they are ruled under the Capitol. The Capitol is where all of the powerful and wealthy live, enforcing harsh laws to the 12 districts.Because of this society, they have been conditioned to know that no matter what you are doing you still need to maintain your pride. PETA however, is different. Past competitors have done anything in their power to stay alive, but PETA believes that when he dies he shall still have his dignity with him. â€Å"l could think of a way to show the Capitol they don't own me. That I'm more than Just a piece in their games. † This quote by PETA shows that while others around him will do anything to survive, he will still think straight and die as himself.Throughout the book, Catkins is constantly struggling to find herself. â€Å"I'm not really sure who I am, what my identity is. This idea scares me some. † Catkins doesn't get attached to people easily, she is hot tempered, feisty and independent. The result of Catkins' quest to find herself, was her recognizing her hatred for the Capitol. When her ally Rue was killed, she covered her body in flowers and sung to her. This was considered an act of rebellion, because although she was doing what she thought was rig ht, she was only going against the Capitol's ways.Also, at the end of the games, PETA and Catkins refused to kill each other by faking a bubble suicide attempt. They both wanted to live and die as themselves and preserved their dignity, even when others cracked under the pressure. In The Hunger Games, Catkins and PETA stood up for what they believed in. Instead of Just acknowledging the injustice they were faced with, they started a rebellion by doing what they thought was the correct thing. This book taught me to stay true to who you are no matter how drastic the situation, and to fight for my values and morals.

International business Essay Example | Topics and Well Written Essays - 2000 words

International business - Essay Example Apart from this, on the basis of the analysis, with varied tools, certain recommendations are also provided to the management of the organisation. It is essential in order to enhance the productivity and the prosperity of Scholz & Friends. Moreover, it would also enhance the brand association and distinctiveness among other evident players in the market. Table of Contents 1 Abstract 2 3 Introduction 4 Analysis 5 Overview of Scholz & Friends 5 Analysis of China Market 6 Market Overview 6 Trend Analysis 7 PESTLE Analysis 7 Porter’s Five Forces Analysis 10 SWOT Analysis of China Market 12 Recommendation 14 Conclusion 14 References 15 Bibliography 19 Appendices 20 Introduction The rapid pace of globalisation and industrialisation enhanced global affiliation among various intercontinental regions resulting in reduction of trade barriers leading to upgradation of international business. Moreover, globalisation also enhanced the economic growth of the varied developed and developing countries along with improvement in business activities due to free trade opportunities (Wang, n.d.). International business is referred to industrial or mercantile dealings that take place among two or more areas, countries or nations beyond political periphery. International business includes exports and imports activities as numerous products and/or services are transferred from one region to the other. The prime objective of an organisation to undergo global business is to enhance its market share along with its corporate image. The other key aim of international business is to augment organisational productivity and profitability (Wang, n.d.). Subsequently, international business helps an organisation to extend its credibility and identity all over the globe in order to enhance its reputation. Hence, enhancement of international business amplified the need of promotional activities resulting in wider scope for advertising agencies. An advertising agency mainly deals in service industry which attempts to create and to promote inventive ideas and thoughts such as Scholz & Friends. The prime objective of any advertising agency is to encourage and to convince consumers regarding commercial offerings. Advertising agencies like Scholz & Friends also attempts to reassure employees or shareholders about the success of any organisation (Scholz & Friends Group GmbH, 2010). The report mainly focuses on varied features and importance of Scholz & Friends in a brief way. Along with this, it also highlights varied attributes of international business and a detailed analysis of Scholz & Friends is also shown with the help of diverse techniques such as PESTLE analysis, Porter’s five forces analysis and SWOT analysis. In addition, various recommendations are also provided in order to enhance the growth and the development of Scholz & Friends. Analysis Overview of Scholz & Friends Scholz & Friends is one of the reputed advertising agency groups in Europe. It was esta blished in the year 1981 with an alliance of 48 friends. The head office of Scholz & Friends is situated in the region of Berlin of Germany (Scholz & Friends Group GmbH, 2010). The company i.e. Scholz & Friends was originated in Hamburg by Jurgen Scholz and many others so it was named such. It is known as one of the most imaginative agencies of Germany and hence is ranked, number one by trade journal Horizont. Due to high brand image and

The Same Sex Couples Raising Children Essay Example | Topics and Well Written Essays - 2500 words

The Same Sex Couples Raising Children - Essay Example As the essay highlights the issues related to same-sex couple are included in the most controversial and current concerns in the society in the past few years.   From the issues of acceptance of the same-sex couples to the laws related to marriage, every subject matter had been greatly discussed and sensationalized.   To be able to achieve a certain level of awareness on the different dynamics in the social context, the paper is aimed to present the views of various forms of media on one of the important issues related to same-sex relationships, which is the manner they raise children and the processes related in terms of legal, social, ethical and cultural aspects.This research declares that the issues related to same-sex couples are included in the main concerns in the society.   Raising children for same-sex couples is the main focus of the study because one phase considered by these couples in establishing a family is having children and eventually raising and supporting th em.  There are different aspects of the issue on raising children by same-sex couples.   One of the important aspects is adoption of the child for the same-sex couples specifically the gay couples.   Different countries implement different laws regarding the process.   In 2000, the states of Arkansas, Florida, Mississippi and Utah prohibited adoption of children to gay parents.   On the other hand, countries in Europe such as Denmark, Norway and Iceland had been legally open to adoption of children to same-sex couples.

Synthesis of pixelization and realistic drawing Research Proposal

Synthesis of pixelization and realistic drawing - Research Proposal Example â€Å"Hybrid† as a proposed method of artwork will makes use of cubism as the basic building block of the painting that would serve as small pixels that would make up the painting. Except that in the case of â€Å"hybrid† approach, the subjects will not necessarily be geometrical figures but rather realistic drawings. The realistic drawing that uses the cubist pixel as proposed by the â€Å"hybrid† method is feasible in rendering subjects in artwork due to the phenomena of Gestalt effect. Gestalt effect posits that the human brain can generate forms and recognize visual figures as a whole instead of its unrelated elements (which in this case are the cubist pixels). The colors are also limited to black, white and gray to convey simplicity and would allow the subject to speak to the audience instead of the colors. The three colors would serve as the three main tones in rendering artworks which are light, mid and heavy tones. Hybrid as proposed method of painting ca n still effectively render beautiful artwork due to Gestalt phenomena where the audience can generate visual recognition of the subject without minding the cubist pixels that makes up the artwork. It presupposes that the human brain will ignore the cubist pixels but will instead the realistic figure in the artwork instead. The proposed research will make use of descriptive exploratory research in proposing â€Å"hybrid† as a valid and legitimate approach in painting. Descriptive approach would help explain the proposed method of hybrid painting.

WORLD WAR II WAS A WAR OF UNPRECEDENT DEATH AND DESTRUCTION, MUCH OF Essay

WORLD WAR II WAS A WAR OF UNPRECEDENT DEATH AND DESTRUCTION, MUCH OF IT FOCUSED ON CIVILIANS, WHY - Essay Example The major control of Germany was in the hand of Adolf Hitler. He was the leader of Nazi party. He conquered the lands of Germany and defeated Poland. This proved to break out war against Germany and slowly nearly whole world indulged into it. In world war 2 more than 63 million people of allied and axis powers were died. This death figure included 24 million soldiers and 38 million civilians in which 90% civilians were from allied nations. Allied nations defeated the axis powers and this was the end of war. The major destruction in this war caused to Allied nation people. Death figure of civilians are given which shows the deadliness of world war 2.Around 11.7 million civilian died in Soviet Union, 7 million in China, 5.2 million in Poland, 2 million in Germany and 0.6 million in Japan. 5 million European Jews died due to genocide. In world war two many new weapons like atomic bombs, missiles, fighter planes, biochemical bombs were invented which caused to mass destruction and genetic disorders.

Law Essay Example | Topics and Well Written Essays - 2750 words

Law - Essay Example I note that the University reserves the right to check my assignment for plagiarism. Should the reproduction of all or part of an assignment be required by the University for any purpose other than those mentioned above, appropriate authorisation will be sought from me on the relevant form. OR, if submitting this paper electronically as per instructions for the unit, place an ‘X’ in the box below to indicate that you have read this form and filled it in completely and that you certify as above. Please include this page in/with your submission. Any electronic responses to this submission will be sent to your ECU email address (or, where relevant, the digital dropbox for the Blackboard site for LAW1100). Agreement Date  PROCEDURES AND PENALTIES ON LATE ASSIGNMENTS - Refer to the University Admission, Enrolment and Academic Progress Rule 24 and the ECU Assessment Policy ? A student who wishes to defer the submission of an assignment must apply to the lecturer in charge of the relevant unit or course for an extension of the time within which to submit the assignment. ? Where an extension is sought for the submission of an assignment the application must : be in writing - preferably before the due date; and set out the grounds on which deferral is sought. ( see ECU Assessment Policy) ? Assignments submitted after the normal or extended date without approval shall incur a penalty of loss of marks. (see 39.5) ACADEMIC MISCONDUCT Rules (Students) All forms of cheating, plagiarism or collusion are regarded seriously and could result in penalties including loss of marks, exclusion from the unit or cancellation of enrolment. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Please remember to read, store for future reference and ensure that you have submitted: to the correct location the correct assessment piece CONFORMANCE STATEMENT Please note the following, and enter the required information in the grey shaded spaces provided prior to submission of the essay. 1. Your LAW1100 on campus essay should have not less than 2800 effective words but not more than 3200 effective words (without the express permission of the Unit Coordinator) (see LAW1100 Unit Plan (February, 2011, page 9). This essay has †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2801†¦. words (in determining the number of words, do a ‘word count’ from the beginning of your Introduction to the end of your Conclusion, and subtract all headings, sub headings, direct quotations and in text references therein from the result). 2. Your LAW1100 essay should use at least 6 to 10 quality academic reference sources (i.e. in terms of LAW1100 requirements, texts and journal articles – see LAW1100 on campus Essay Preparation Kit (2011), page 19). This essay has †¦13†¦ quality academic referen ce sources (in determining the number of quality academic reference sources for LAW1100 purposes, add up the total number of end references and subtract those which are not texts or journal articles; do not include the number of cases in this count – see point 4 below). 3. Your LAW1100 essay should cite your end reference sources (collectively) on at least 30 occasions in the body of your essay (see LAW1100 on cam

Supply Chain Essay Example | Topics and Well Written Essays - 1000 words

Supply Chain - Essay Example that determines the efficiency of the overall business to a great extent and its effectiveness reflects and ensures the effectiveness of other front end business processes. For example, when an efficient supply chain enables the timely and cost effective procurement of the services, the possibility of providing goods or services to the customers increases many folds. The travel agency business is no exception in this regards. This paper intends to explore the supply chain under ‘brick and mortar system ’and compare the changes that has been brought due to the interventions of technology on the supply chain. Before moving further few terms need to be explained. Brick and Mortar means manual way of working. Click and mortar means combination of manual and automated working; whereas, click only means totally automated working. The business of travel agency in older times, when the brick and mortar system was in operations, was mainly manual and the service they used to provide was to arrange for the flights, booking of the hotels and to arrange any other service required by the customers during the travelling. Let us explore the supply chain for the travel agency under brick and mortar system. Under manual system, the participants of the supply chain were, the travel agent, the hotel administration, the airline ticking staff and other salesman for relevant services, for example, if the customer is being provided with the car rentals, then the car rental vendor will also be the participant of the supply chain. The process of supply chain was very simple yet bearing a lot of demerits. The process was like, the travel agent used to have the agreements with different vendors and on receiving orders, they used to go to those vendors, book their service and get the tickets/ receipts etc. Though it was very simple supply chain, yet it bore many discrepancies, for example, suppose that a travel agent books the ticket for a particular destination for his journey but

Survey analysis for online resale shop Case Study - 1

Survey analysis for online resale shop - Case Study Example No participant was forced for any sort of unwilling participation. Additionally, all participants were given the right to withdraw from participation in the study at any stage. The researcher has also kept the element of confidentiality into consideration. Personal information of selected participants has been kept intact. The competition in the global business market s very intense these days. This intensified competition across markets have make the survival of business next to impossible, It has become very difficult for businesses to retain their potential customers in the age of advance technology. However, e-business in such instance is one platform where businesses are competing against each other to win their potential customers. For businesses to succeed it has become very important to offer both local & online services. To further acquire these details in depth, this study has selected quantitative research method. Using this, survey has been conducted. From the survey, it has been acquired that out of the selected 250 participants, 198 participants agreed that they like shopping online while 52 participants should resistance towards online shopping. From the responses’ it is noted that most of the participants like shopping online. Many of the selected participants also believed that they usually shop luxury goods from shopping malls such as: Westfield, Selfridges, Harrods†¦etc. In such instances, they spend  £251 -  £350 on usual basis on luxury goods. The most common platform selected by potential customers to make online purchases is from Amazon. Most of the people ask their friends for inspiration before making any online purchase. Two most important elements/variables for making online purchase for clothes are them quality/material while price is the second most important element. It is also evident that an online shop provides more up-to-date information than their

Scholarship Dissemination Methods Research Paper

Scholarship Dissemination Methods - Research Paper Example Dementia is a non-specific ailment condition that affects a person’s areas of cognition such as recollection, attention, linguistics and problem solving. It may occur in two stages, static or an effect of a brain injury, or progressive which results to long-term deterioration as caused by injury or illness. The fact that the early onset of dementia is likely to transpire at the age of 65 indicates that this is an important concern for old people as well as their family members that would have to take care of them during their battle with the disease (Fadil et al. 247). According to Ward-Griffin, Bol and Oudshoorn (121), there are only few known studies directed to document the care giving experience of dementia patients and their perspectives in their condition. In order to explore further on this topic, they specifically conducted a qualitative investigation regarding the standpoint and experiences of mothers with dementia that are being taken care of their daughters and thei r relationship with them. The authors gathered separate thorough interviews on a sample of ten women suffering from mild to moderate mental impairment and developed a template analysis strategy that will classify the index of gathered data using the answers to the following inquiries: (1) how do women with AD and their adult daughters describe their experiences of receiving/providing care? (2) How do women with AD and their adult daughters describe their relationship? (3) What contextual factors influence the care provided/received? (127). In the study, the analysts recruited mothers suffering the early stages of dementia and tested them using the Standardized Mini-Mental Status Examination (SMMSE). Only participants who established good oral and comprehension skills and obtained high scores in SMMSE were interviewed using audiotape recording. A written material detailing the purpose and nature of the research were provided to participants with two interviews conducted in a span of six to nine months. On the other hand, the daughters who took part of the program recounted that they have been providing care for their mothers at an average of three days per week and been doing it for the past forty-nine months (Ward-Griffin, Bol and Oudshoorn 129-130). Less research documentation was applied in data collection concerning individuals with dementia. It involved separate interviews of the mothers and daughters to ensure a more candid response specifically from the elderly patients, the participants answering a demographic questionnaire at the end of the first interview and the analysts providing full field notes after each interview. Hence, the interviewers exemplified the importance of attaining the perspectives of dementia patients by employing additional interview strategies that is suitable for their condition (Ward-Griffin, Bol and Oudshoorn 130). According to the authors of the research, the qualitative data was analyzed using the guiding principle of Lofland and Lofland where full field notes consisting of perception, insights and observations are immediately written after an interview. The interviewers continuously provide his or her insights thru notes and memos. Gathering of information and its analysis were processed simultaneously

The Taming of the Shrew Essay Example for Free

The Taming of the Shrew Essay Act IV begins by starting the taming process. Petruchio leaves Katherine outside the house in the rain and cold while he sits down pretending he has forgotten about her until she starts to knock on the door repeatedly. The next few days in Petruchios household are the continuation of the taming process by keeping Katherine from eating or sleeping, pretending that he loves her so much he cannot allow her to eat his inferior food or sleep in his poorly made bed. Tis burnt, and so is all the meat. While studying the Taming of The Shrew I have watched two film productions, read the book, and also viewed a production at the Royal Shakespeare Theatre in Stratford, this has allowed me to gain lots of viewpoints about the play and how they all complement each other. I enjoyed Act IV the most for many reasons. There is lots of action and more violence than the other acts, which makes it stand out. There are also a lot of subtle lines and going ons that make you think hard about the actions and how they are contributing to the whole play. At the beginning of the Act Petruchio constantly verbally and physically abuses the servants in front of Katherine to show off and prove he has power, she tries to stick up for them and protect them but Petruchio does not allow this. I believe that this livens up the play as the taming process has begun. Petruchio was striking and shouting at the servants for a purpose, directed at Kate, as she tries to protect them she realises that she has stopped thinking only about herself and begins to feel for the others. Another amusing aspect of the Act was when Lucentio needed a father so that his marriage can go through. He came across an old man and told him a story of how their two towns hated each other and if someone found out about him, he would be killed. It was risky but also a bit stupid of the man to accept. In this Act but there is one scene that is especially comical. Petruchio continuing the taming process begins to tease Katherine with new clothes. He introduces a tailor and a haberdasher who both present the most stylish of clothing, which Katherine loves immediately, however Petruchio realising this, disapproves of everything saying it is not fit for her and is poorly made. He starts ruining the clothes and ordering the men to leave. Katherine however picks up a hat and puts it on and she wants it so much, All gentle women on the streets wear such a beautiful piece of clothing However immediately Petruchio replies When you are gentle, you shall have one too, and not till then. This is obvious without any subtlety. It hits you in the face and points out to Katherine what Petruchio is trying to do. However amongst all the humour and action surrounding the Act at the moment there comes a point in the Act where all of this seems to disappear. All of scene IV is rather lifeless and fails to entertain the audience as previous scenes had. It becomes more serious and I think rather loses the attention of the audience and distracts their attention away from the play.

Tiananmen Square Incident and the Chinese Government

Tiananmen Square Incident and the Chinese Government Question: Why did the Chinese Government crackdown on Student protestors during the Tiananmen Square Incident? Section 1: Identification and Evaluation of sourcesThis investigation will focus on the research question: Why did the Chinese government crackdown on Student Protestors during the Tiananmen Square Incident? This investigation focuses on the causes of the Tiananmen Square Massacre in 1989 The two sources I have chosen to analyze are the April 26 editorial from the Chinese Communist Party and the Autobiography of Zhao Ziyang, who was the General Secretary of the CCP, who was ousted due to the Tiananmen Square Massacre. These Sources help to shed the different perspectives within the CCP, which was split into the hardliners and the reformers. These two perspectives will thus show why the Chinese Government had decided to crack down on the Student Protestors during the Tiananmen Square Incident. The first source, the April 26Editorial[1] by the CCP, originated from the Propaganda Department in the Peoples Daily Newspaper, and ordered by Li Peng, a member of the standing committee, in response to the Tiananmen Protests taking place. This source is valuable firstly due to its Origin and Content. Its origin shed light on the CCPs official public position with regards to the Tiananmen Square Protest. By doing so, showed that the government was absolutely not in favor of the protests, and by throwing down the gauntlet, it was valuable as it possibly showed the rationale behind why the Chinese Government would intervene and stop these protestors. In addition to this, they chose to publish it in the Peoples Daily, the largest newspaper agency in China. By openly publicizing their opposition, it tries to possibly warn them about their actions, foreshadowing possible action against these protestors, and thus compelling them to stop their protests immediately. Furthermore, it has used extremely strong vocabulary to describe these protesters by labelling them as people who want to destabilize the entire country and advocating for the government to collapse. This strong wording is intended to stir up the feelings of anger within the General Population to not react to these protestors and to stop any possible potential protestors from joining in at Tiananmen. Furthermore, by putting such a label on them, it gives them a good reason to step in and possible defuse the situation in Tiananmen. However, the limitations of this Source is that as it is a propaganda piece originating from the CCP, it is inherently biased as it attempts to portray the student protestors in an incredibly negative light, by making assertions against them. They also play the victim card by portraying Deng Xiaoping and the CCP as being the victims in this situation. The inherent bias in this editorial as they were trying to put their foot down, makes the editorial to be not good explanation for cracking down on the student protestors as it was simply the CCP posturing against the student protestors, and trying to assert authority on the general public. The second source is an excerpt[2] from Zhao Ziyangs Autobiography. Zhao Ziyang was the Chinese Premier, and was seen as a reformer in the CCP. The origin of the source is valuable as it sheds an alternative view in the government, and it is also a primary source, which would suggest that this view is an unfiltered first person point of view. This source is prescriptive as it tells us what happened, thus making it valuable as he is trying to shed light on the secretive inner workings of the standing committee. In terms of content, he writes that he saw the protests as criticism against the government, in order to compel it to reform. This shows that that he held totally different views from those stated in the article and therefore, did not see a good reason to intervene in the Tiananmen protests, which is valuable as it showed that the entire standing committee did not agree with the characterization by Li Peng. However, the limitations to this source is that because it is a primary source, most of it was of the authors opinion, therefore should not be taken up as facts.   Zhao was also overthrown by the CCP in the power struggle during the Tiananmen massacre which would suggest that he would have a motive to assassinate Li Pengs character by portraying him as a hardliner and as cold blooded. Furthermore, the decision to publish the editorial by the standing committee was made when Zhao was not present as he was in North Korea on a state visit. Therefore his reasoning for why the editorial was published might be entirely based on his own opinions. Section 2: Investigation As seen from the evaluation of the two primary sources, the Standing Committee was split in two camps, the hardliners, who felt that the student protestors were out of hands and needed to be dealt with, or the reformers, believed that criticism in the greater scheme of things was good for the government. However, the Standing Committee had in the end, decided to declare martial law and crackdown on the protestors. This investigation investigates the reasons for the crackdown, and how did each reason impact the decision to crackdown on the protestors. The main reason for the crackdown were the political implications from the protests, with the primary reason being social unrest, with fear that the country was going to collapse. This brings in the main debate of this investigation, in what caused the Chinese government to make the decision to crackdown on Tiananmen. This has to be looked at from the fact that the government was split into the hardliners and the reformers, and thus the supplementary questions in this investigation was, How did the hardliners end up getting their way? And how did they view the protestors at Tiananmen such that it warranted such an approach? A huge reason for the decision to crackdown at Tiananmen was because the moderates in the standing committee had been purged. Prior to Tiananmen, the standing committee had held a vote in which it was stalemated at 2-2, with the hardliners, Li Peng and Yao Yilin voting in favor of Martial law, with Zhao Ziyang and Hu Qili voting against, and Qiao Shi abstaining.[3] This shows the true split nature of the Standing Committee. It was then referred to Deng Xiaoping and the party elders and they then supported Martial Law. However, the most significant part was that Deng Xiaoping supported Martial Law. According to Zhao Ziyangs diaries as well the Tiananmen papers, it was said that the April 26th editorial came out of a visit to Dengs house where he mentioned the turmoil faced by the country as a result of the student protests was a most serious political struggle.[4] Deng was seen as the paramount leader and exerted influence over the entire CCP. With Deng on the side of the hardliners, it set the stage for anyone against the crackdown to be purged. This connects to the reason for the purge, which was due to their split in the way they viewed the protests. The hardliners saw it as an act to disrupt the entire government while the reformers saw it as criticism to help them improve the government. From the hardliners perspective, they felt that it was in the public interest to crack down on the protestors. Public interest is defined by, Welfare of the general public (in contrast to the selfish interest of a person or group) in which the whole society has a stake and which warrants à ¢Ã¢â€š ¬Ã‚ ¦ protection by the government[5] These aims were to ensure that the country will not fall into turmoil and result in protests all over the country, leading to anarchy in China. This can be seen from official CCP transcripts and documents, and these include the 26th April editorial as well as the Li Pengs speech to a CCP conference of municipal and army officials declaring mar tial law. Firstly, the April 26th editorial[6] stated that these students wanted to poison peoples minds as well as plunge the country into chaos, and ends of by take positive action and quickly stop the disturbance. This shows that the CCP viewed these students are people trying to bring down the entire state institution and had to be stopped as it threatened everything that China had built such as a growing open economy with the four modernizations. By threatening the status quo, and framing the protestors in such a way, it shows that the CCP did want to ensure that the status quo remain and that the process of modernization could continue, bringing prosperity to the people. Secondly, when the CCP declared martial law in May, Li Peng outlined the reasons in which the Standing Committee had done it. He said that these protestors seek to form an opposition, creating a civil war in the process, which showed that he did it to stabilize the country to stop the historical retrogression[ 7]. Therefore, for the hardliners perspective, they did it in the public interests, which was the maintenance order and the status quo. The other perspective of this would be the reformers. In Zhao Ziyangs diaries, it states that they were absolutely not against the basic foundations of our system. Instead they were merely asking us to correct some of our flaws.[8] This shows that he was greatly opposed to the way that the hardliners saw the protestors, and encouraged greater dialogue between the two sides. This shows the contrast on how each side had already labelled the protestors, with the hardliners referring to them as people who want to throw the entire country into chaos, while the reformers had labelled them as people who want to reform the government not destroy the whole institution. This conflict would therefore require the hardliners to purge them as without that, the crackdown could not have taken place. To further reinforce the fact that the hardliners did not want to compromise on their view that these protestors were troublemakers and needed to be dealt with, a third perspective from the army is used. Former army generals had sent a letter opposing the crackdown, saying the peoples army belongs to the peoples army, they cannot oppose the people, but further cannot kill the people.[9] Despite this letter, the general who sent it got arrested. This further shows that the hardliners in the CCP were steadfast in their belief it was for the good of the people, and therefore needed to crackdown on the protestors, irregardless of the cost. In conclusion, the immediate reason for why the Government crack downed on Tiananmen was due to the fact that the moderates were purged, enabling them to have free reign over how to respond to the protestors. However, the major underlying factor was their desire to maintain public order in China, in order for china to not break out into civil war. There are other reasons however, which led to their concerns of the government collapsing. As Deng Xiaoping remarked, If things continue like this, we could even end up under house arrest.[10] These protests took place in the context of the Eastern European Countries overthrowing their communist governments and the government was afraid that due to that precedent, they might be overthrown and be put under house arrest. Reflection This investigation had given me a number of challenges. Firstly, there is a substantially less resources done on this topic as this topic is still controversial in the minds of many. The Chinese government had censored a lot of information about this. Therefore, to find sources which challenge each other was not easy. Furthermore due to the censorship, this research question was especially difficult considering that any mention of the June 4h incident is prohibited, as a result the method of investigation, especially for this topic was heavily dependent on the secondary data I could find. This would therefore lead to my next challenge. The challenges faced when doing a science investigation for example is vastly different, as you are able to test your science hypothesis through experiments but with history, you need to prove it based on sources and your inferences, thus making it a lot more subjective. Secondly, I was challenged with discerning which evidence was the most relevant an d could best illustrate my arguments. A lot of the evidence centered around what actually had happened, and not the causation for it, as the CCP does not release transcripts. Lastly, I realized that a historian must be able to discern the pre-existing biases due to the different sources having possible ulterior motives, in order to have an argument that is unbiased. However, is it possible to historical events are the truth as due to differing perspectives, it is hard to evaluate what the whole truth is. For example, what the CCP has prescribed as the truth becomes the truth in China. When I asked my Chinese friends about this incident, many of them had never heard of the Tiananmen Massacre, which shows the extent of censorship in China, contributing to the difficulty in obtaining sources. Appendix: April 26th editorial published in the Peoples Daily In their activities to mourn the death of Comrade Hu Yaobang, communists, workers, peasants, intellectuals, cadres, members of the Peoples Liberation Army and young students have expressed their grief in various ways. They have also expressed their determination to turn grief into strength to make contributions in realizing the four modernizations and invigorating the Chinese nation. Some abnormal phenomena have also occurred during the mourning activities. Taking advantage of the situation, an extremely small number of people spread rumors, attacked party and state leaders by name, and instigated the masses to break into the Xinhua Gate at Zhongnanhai, where the party Central Committee and the State Council are located. Some people even shouted such reactionary slogans as, Down with the Communist Party. In Xian and Changsha, there have been serious incidents in which some lawbreakers carried out beating, smashing, looting, and burning. Taking into consideration the feelings of grief suffered by the masses, the party and government have adopted an attitude of tolerance and restraint toward some improper words uttered and actions carried out by the young students when they were emotionally agitated. On April 22, before the memorial meeting was held, some students had already showed up at Tiananmen Square, but they were not asked to leave, as they normally would have been. Instead, they were asked to observe discipline and join in the mourning for Comrade Hu Yaobang. The students on the square were themselves able to consciously maintain order. Owing to the joint efforts by all concerned, it was possible for the memorial meeting to proceed in a solemn and respectful manner. However, after the memorial meeting, an extremely small number of people with ulterior purposes continued to take advantage of the young students feelings of grief for Comrade Hu Yaobang to spread all kinds of rumors to poison and confuse peoples minds. Using both big- and small-character post ers, they vilified, hurled invectives at, and attacked party and state leaders. Blatantly violating the Constitution, they called for opposition to the leadership by the Communist Party and the socialist system. In some of the institutions of higher learning, illegal organizations were formed to seize power from the student unions. In some cases, they even forcibly took over the broadcasting systems on the campuses. In some institutions of higher learning, they instigated the students and teachers to go on strike and even went to the extent of forcibly preventing students from going to classes, usurped the name of the workers organizations to distribute reactionary handbills, and established ties everywhere in an attempt to create even more serious incidents. These facts prove that what this extremely small number of people did was not to join in the activities to mourn Comrade Hu Yaobang or to advance the course of socialist democracy in China. Neither were they out to give vent to their grievances. Flaunting the banner of democracy, they undermined democracy and the legal system. Their purpose was to sow dissension among the people, plunge the whole country into chaos and sabotage the political situation of stability and unity. This is a planned conspiracy and a disturbance. Its essence is to, once and for all, negate the leadership of the CPC and the socialist system. This is a serious political struggle confronting the whole party and the people of all nationalities throughout the country. If we are tolerant of or conniving with this disturbance and let it go unchecked, a seriously chaotic state will appear. Then, the reform and opening up; the improvement of the economic environment and the rectification of the economic order, construction, and development; the control over prices; the improvement of our living standards; the drive to oppose corruption; and the development of democracy and the legal system expected by the people throughout the country, in cluding the young students, will all become empty hopes. Even the tremendous achievements scored in the reform during the past decade may be completely lost, and the great aspiration of the revitalization of China cherished by the whole nation will be hard to realize. A China with very good prospects and a very bright future will become a chaotic and unstable China without any future. The whole party and the people nationwide should fully understand the seriousness of this struggle, unite to take a clear-cut stand to oppose the disturbance, and firmly preserve the hard-earned situation of political stability and unity, the Constitution, socialist democracy, and the legal system. Under no circumstances should the establishment of any illegal organizations be allowed. It is imperative to firmly stop any acts that use any excuse to infringe upon the rights and interests of legitimate organizations of students. Those who have deliberately fabricated rumors and framed others should be in vestigated to determine their criminal liabilities according to law. Bans should be placed on unlawful parades and demonstrations and on such acts as going to factories, rural areas, and schools to establish ties. Beating, smashing, looting, and burning should be punished according to law. It is necessary to protect the just rights of students to study in class. The broad masses of students sincerely hope that corruption will be eliminated and democracy will be promoted. These, too, are the demands of the party and the government. These demands can only be realized by strengthening the efforts for improvement and rectification, vigorously pushing forward the reform, and making perfect our socialist democracy and our legal system under the party leadership. All comrades in the party and the people throughout the country must soberly recognize the fact that our country will have no peaceful days if this disturbance is not checked resolutely. This struggle concerns the success or failu re of the reform and opening up, the program of the four modernizations, and the future of our state and nation. Party organizations of the CPC at all levels, the broad masses of members of the Communist Party and the Communist Youth League, all democratic parties and patriotic democratic personages, and the people around the country should make a clear distinction between right and wrong, take positive action, and struggle to firmly and quickly stop the disturbance. Excerpt from Prisoner of the State, Zhao Ziyangs Autobiography With Li Peng presiding, Li Ximing and Chen Xitong vigorously presented the student demonstrations as a grave situation. They disregarded the fact that the student demonstrations had already calmed down. In fact, student opinions had begun diverging. Some of the students believed that they should resume classes and had already done so, while a minority opposed the return to classes. Internal friction had become apparent in some schools. Some of the students had attempted to resume classes, while other, more extreme students had blocked the entrances to the classrooms to prevent them from entering. This shows that for some students, the activities had not fully satisfied their need to vent their anger. If measures were to be taken to reduce tensions, to have dialogue, and to allow students the chance to propose certain reasonable requests, this was a good time to do so. However, in their report, they [Li Ximing and Chen Xitong] went so far as to state, Nationwide, large-scale demonstra tions including the participation of high school students and workers are being organized and are fomenting. They also reported that university students in Beijing have sent contacts to places around the country and have conducted fund-raising in the streets to prepare for activities on a larger scale. They denounced the extreme opinions of a few students, especially remarks directed specifically at Deng Xiaoping. They presented the demonstrations as opposing the Communist Party and targeting Deng Xiaoping personally. With the onset of reform, students, especially college students, had been exposed to many Western ways. Remarks critical of political leaders were made casually and considered inconsequential; the intense climate [of fear] that existed during the Cultural Revolution* and before no longer existed. Many of these student remarks targeted me, such as those that accused my children of making business deals utilizing official resources or those that claimed that trainloads o f fertilizer had been sent to my hometown. With hundreds of thousands of people involved, its impossible for there to have been no extreme or one-sided comments. Things appear extremely grave if you select only the ten most extreme statements being expressed by all of the people involved. I am not sure what was behind Li Ximing and Chen Xitongs behavior: either their old mentality of class struggle was at work or they had other ulterior motives. The student demonstration was deemed an organized and carefully plotted political struggle, and was documented as such in the minutes of the meeting. Li Peng, Li Ximing, and Chen Xitong were the ones initially responsible for this. On April 25, Li Peng and [President] Yang Shangkun reported to Deng Xiaoping about the Politburo Standing Committee meeting. Deng Xiaoping had always tended to prefer tough measures when dealing with student demonstrations because he believed that demonstrations undermined stability. After listening to their repor t, Deng immediately agreed to label the student demonstrations anti-Party, anti-socialist turmoil and proposed to resolve the situation quickly, in the manner of using a sharp knife to cut through knotted hemp. When I had visited him on April 19, he had agreed with my position. On the 25th, after being briefed by Li Peng and Yang Shangkun, he had changed his mind to agree with their assessment. After all, it coincided more closely with what he had really believed all along. Dengs discussion with Li Peng and others on April 25 was supposed to be an internal affair. However, Li Peng decided to disseminate the contents of Dengs remarks that very evening to Party cadres of all levels, and paraphrased their talk in the editorial that he had the Peoples Daily publish on April 26, publicly designating the student demonstrations as premeditated and organized turmoil with anti-Party and anti-socialist motives. Bibliography April 26 Editorial. April 26 Editorial. N.p., n.d. Web. 20 Mar. 2017. Zhao Ziyang, Bao Pu (Editor), Renee Chiang (Editor), Adi Ignatius (Editor). Prisoner of the State. N.p., n.d. Web. 20 Mar. 2017. Nathan, Andrew J. The Tiananmen Papers. Foreign Affairs, vol. 80, no. 1, 2001, Public interest. BusinessDictionary.com. WebFinance, Inc. March 18, 2017 Li Peng Speech Declares Martial Law. Li Peng Speech Declares Martial Law. N.p., n.d. Web. 20 Mar. 2017. Polumbaum, Judy. Making Sense of June 4, 1989: Analyses of the Tiananmen Tragedy. The Australian Journal of Chinese Affairs, no. 26, 1991, pp. 177-186., Abas, Melanie, and Jeremy Broadhead. The Tiananmen Square Massacre. BMJ: British Medical Journal, vol. 299, no. 6693, 1989, pp. 269-270., Ingraham, Catherine. Gate of Heavenly Peace. Assemblage, no. 20, 1993, pp. 44-45. [1] See Appendix 1.1 [2] See Appendix 1.2 [3] Nathan, Andrew J. The Tiananmen Papers. Foreign Affairs, vol. 80, no. 1, 2001, pp 22. [4] Nathan, Andrew J. The Tiananmen Papers. Foreign Affairs, vol. 80, no. 1, 2001, pp. 11, [5] public interest. BusinessDictionary.com. WebFinance, Inc. March 18, 2017 [6] See Appendix 1.1 [7] Li Peng Speech Declares Martial Law. Li Peng Speech Declares Martial Law. N.p., n.d. Web. 20 Mar. 2017. [8] Prisoner of the State: The Secret Journal of Premier Zhao Ziyang. N.p., n.d. Web. 20 Mar. 2017. [9] (Chinese) Wu Renhua, 89à ¥Ã‚ ¤Ã‚ ©Ãƒ ¥Ã‚ ®Ã¢â‚¬ °Ãƒ ©- ¨Ãƒ ¤Ã‚ ºÃ¢â‚¬ ¹Ãƒ ¤Ã‚ »Ã‚ ¶Ãƒ ¥Ã‚ ¤Ã‚ §Ãƒ ¤Ã‚ ºÃ¢â‚¬ ¹Ãƒ ¨Ã‚ ®Ã‚ °Ãƒ ¯Ã‚ ¼Ã… ¡5à ¦Ã…“ˆ21à ¦- ¥ à ¦Ã‹Å"Ã… ¸Ãƒ ¦Ã…“Å ¸Ãƒ ¦- ¥ N.p. N.d. Web. 21 Mar. 2017 [10] Nathan, Andrew J. The Tiananmen Papers. Foreign Affairs, vol. 80, no. 1, 2001, pp. 20,

Consumer Buying Behaviour Analysis

Consumer Buying Behaviour Analysis CONSUMER BUYING BEHAVIOUR Consumer is the king and it is the consumer determines what a business is, therefore a sound marketing programme start with a careful analysis of the habits, attitudes, motives and needs of consumers. In particular a marketer should find answer to the following questions: What are the products they buy? Why they buy them? How they buy them? When they buy them ? Where they buy them? How often they buy them? A buyer makes a purchase of a particular product or a particular brand and this can be termed â€Å" product buying motives† and the reason behind the purchase from a particular seller is â€Å" patronage motives† When a person gets his pay packet, and if he is educated ,sits down along with his wife and prepares a family budget, by appropriating the amount to different needs. It may happen that after a trip to the market, they might have purchased some items, which are not in the budget, and thus there arises a deviation from the budgeted items and expenditure. all the behaviour of human beings during the purchase may be termed as â€Å"buyer behaviour†. HOW CONSUMER BUY 1. Need/Want/Desire is Recognized In the first step the consumer has determined that for some reason he/she is not satisfied (i.e., consumers perceived actual condition) and wants to improve his/her situation (i.e., consumers perceived desired condition). For instance, internal triggers, such as hunger or thirst, may tell the consumer that food or drink is needed. External factors can also trigger consumers needs. Marketers are particularly good at this through advertising, in-store displays and even the intentional use of scent (e.g., perfume counters). 2. Search for Information Assuming consumers are motivated to satisfy his or her need, they will next undertake a search for information on possible solutions. The sources used to acquire this information may be as simple as remembering information from past experience (i.e., memory) or the consumer may expend considerable effort to locate information from outside sources (e.g., Internet search, talk with others, etc.). How much effort the consumer directs toward searching depends on such factors as: the importance of satisfying the need, familiarity with available solutions, and the amount of time available to search. 3. Evaluate Options Consumers search efforts may result in a set of options from which a choice can be made. It should be noted that there may be two levels to this stage. At level one the consumer may create a set of possible solutions to their needs (i.e., product types) while at level two the consumer may be evaluating particular products (i.e., brands) within each solution. For example, a consumer who needs to replace a television has multiple solutions to choose from such as plasma, LCD and CRT television. 4. Purchase In many cases the solution chosen by the consumer is the same as the product whose evaluation is the highest. However, this may change when it is actually time to make the purchase. The â€Å"intended† purchase may be altered at the time of purchase for many reasons such as: the product is out-of-stock, a competitor offers an incentive at the point-of-purchase (e.g., store salesperson mentions a competitors offer), the customer lacks the necessary funds (e.g., credit card not working), or members of the consumers reference group take a negative view of the purchase (e.g., friend is critical of purchase). 5. After-Purchase Evaluation Once the consumer has made the purchase they are faced with an evaluation of the decision. If the product performs below the consumers expectation then he/she will re-evaluate satisfaction with the decision, which at its extreme may result in the consumer returning the product while in less extreme situations the consumer will retain the purchased item but may take a negative view of the product. Such evaluations are more likely to occur in cases of expensive or highly important purchases. To help ease the concerns consumers have with their purchase evaluation, marketers need to be receptive and even encourage consumer contact. Customer service centers and follow-up market research are useful tools in helping to address purchasers concerns. TYPES OF CONSUMER PURCHASE BEHAVIOR Consumers are faced with purchase decisions nearly every day. But not all decisions are treated the same. Some decisions are more complex than others and thus require more effort by the consumer. Other decisions are fairly routine and require little effort. In general, consumers face four types of purchase decisions: * Minor New Purchase these purchases represent something new to a consumer but in the customers mind is not a very important purchase in terms of need, money or other reason (e.g., status within a group). * Minor Re-Purchase these are the most routine of all purchases and often the consumer returns to purchase the same product without giving much thought to other product options (i.e., consumer is brand loyalty). * Major New Purchase these purchases are the most difficult of all purchases because the product being purchased is important to the consumer but the consumer has little or no previous experience making these decisions. The consumers lack of confidence in making this type of decision often (but not always) requires the consumer to engage in an extensive decision-making process.. * Major Re-Purchase these purchase decisions are also important to the consumer but the consumer feels confident in making these decisions since they have previous experience purchasing the product. For marketers it is important to understand how consumers treat the purchase decisions they face. If a company is targeting customers who feel a purchase decision is difficult (i.e., Major New Purchase), their marketing strategy may vary greatly from a company targeting customers who view the purchase decision as routine. In fact, the same company may face both situations at the same time; for some the product is new, while other customers see the purchase as routine. The implication of buying behavior for marketers is that different buying situations require different marketing efforts Consumer Buying Decision Process â€Å"Nothing is more difficult and therefore, more precious, than to be able to decide is quoted to be the words of Napoleon. This is amply true in the case of consumer too. It is for this reason that the marketers are bound to have a full knowledge of the consumer buying decision process. However it should be remembered that the actual act of purchasing is only one stage in the process and the process is initiated at the several stages prior to the actual purchase. Secondly even though we find that purchase is one of the final links in the chain of process, not all decision processes lead to purchase. The individual consumer may terminate the process during any stage. Finally not all consumer decisions always include all stages. Persons engaged in extensive decision making usually employ all stages of this decision process. Where as those engaged in limited decisions making and routine response behaviour may omit some stages. The consumer decision process is composed of two parts, the process itself and the factors affecting the process. SURVEY BY THE MARKETING TEAM A survey conducted by the marketing team of shoppers stop Ltd. Reveals the psychography of the modern shopper. Acordingly the survey classifies customers in to the four segments namely * Convenience Shoppers * Value Shoppers * Image Shoppers * Experience Shoppers Convenience shoppers for instance ,are people who consume relatively less amount of time while shopping. Also they look out for the width and depth of the range they purchase and conduct their annual shopping at one shot. Value Shoppers always hunt for value for money ; Prefer quality reassurance and benchmark offerings among other related attributes. Image Shoppers are fashion- conscious and look out for the latest trends and labels. On the other hand , Experience Shoppers are attentive and prefer personalized services look out for the right ambience, prefer giving personal advice on clothing at the time of purchase , and prefer not to buy at one sold. ECONOMIC FACTOR AFFECT THE BUYERS BEHAVIOUR 1.Disposal personal income : The economists made attempts to establish a relationship between income and spending. Disposal personal income represents potential purchasing power that a buyer has. The change in income has a direct relation on buying habits. 2.Size of family income : The size of family and size of family income affect the spending and saving patterns. Generally large family spend more and short family spend less, in comparison. 3. Income expectations : The expected income to receive in future has a direct relation with the buying behaviour. The expectation of higher or lower income has a direct effect on spending plans. 4.Propensity to consume and to save : This goes to the habit of spending or saving with the disposal income of buyers. If the buyers give importance to present needs, then they dispose of their income. And buyers spend less if they give importance to future needs. 5. Liquidity of Fund : The present buying plans are influenced greatly by liquidity of assets i.e., cash and assets readily convertible into cash, eg bonds, bank balances etc., 6. Consumer Credit : â€Å" Buy now and pay later† plays its role effectively in the rapid growth of markets for car, scooter, radio, furniture and the like. Economic model suggests behavioural hypothsis : * Lower the price of the product, higher the sales. * Lower the price of substitute products, lower the sales of this product * Higher the real income, higher the sales of the product. * Higher the promotional expenses, higher the sales. Internal influences of buyers * psychographics (lifestyle), * personality, motivation, knowledge, * attitudes, * beliefs, and * feelings. * demographics, consumer behaviour concern with consumer need consumer actions in the direction of satisfing needs leads to his behaviour behaviour of every individuals depend on thinking process. EXTERNAL INFLUENCES OF BUYERS * culture, * sub-culture, * Locality, * royalty, * ethnicity, * family, * social class, * reference groups, * lifestyle, and * market mix factors.

Aesthetics Should Never Take Precedence Over Function Essay -- Archite

Aesthetics Should Never Take Precedence Over Function From the early Greek temples of yesteryear, to the high-tech autonomous buildings of tomorrow, the question of whether the function of a building or its aesthetics qualities are more important has plagued the minds of architects around the world. Webster's II New College Dictionary (Please do not use the encyclopedia or the dictionary to open your essay--way too high school.) defines aesthetics as "The branch of philosophy that provides a theory of the beautiful and of the fine arts" (18). The definition of Functionalism is defined by Webster's as "The doctrine that the function of an object should determine its design and materials" (453). Now, if the function of an object decides the type of design and materials used how does one integrate aesthetics into design, and moreover, how important are aesthetics to an architect? Frank Lloyd Wright was one of the greatest and most renowned architects of the 19th and 20th centuries, and while his buildings where lauded for displaying great artistic design, the issue of function was compromised by the blatant fact that his roofs leaked. This is because he let the aesthetics of his buildings become the focus of the structure, and neglected to adequately address the function of the building allowing for this problem to take root in his designs (Palermo, 4 Mar. 1999). As is apparent from Frank Lloyd Wright, there is a certain balance that has to be attained between aesthetics and functionalism in order for a structure to be appreciated as a successful building. Historically speaking, there have been many famous architects that have struggled with finding a ratio between aesthetics and functionalism. Le Corbusier is a good example ... ...ly overbearing, but at the same time remaining pleasing to the eye (Palermo, 6 Apr 1999). In conclusion, the debate between aesthetics and functionalism has been around for a long time. It becomes clear however, through research, that the first thing architects consider is function, and then aesthetics. It is because of this approach that aesthetics becomes somewhat of a by-product of the whole design process. By looking at examples of various buildings, it is apparent that aesthetics is important to structure and in many instances has been successfully coupled with function. But in no circumstance should aesthetics take precedence over the function and practicality of a building. It seems more likely that a happy medium between function and aesthetics can be reached, on a project by project basis, and then applied to the design process of creating the building.

Egyptian And Mexican Pyramids Essay -- essays research papers fc

Mysteries of the Ancient World   Ã‚  Ã‚  Ã‚  Ã‚  For many centuries people have been fascinated by ancient cultures and treasures. During the last two centuries the science of archeology and modern inventions allowed people to get inside of the Egyptian and Mayan pyramids and discover the treasures of Egyptian pharaohs and Mayan rulers. Most of what we know about Egypt we owe to the pyramids. Thanks to Egyptian belief in the afterlife we can now find out about the civilization that existed nearly five thousand years ago. Egyptian culture is not the only culture that left us its heritage in pyramids. In America we find pyramids build by civilizations of Olmec and Maya about 7th century CE. These pyramids had different purposes and usage then the ones in Egypt but they stand as memorials to ancient civilizations as well.   Ã‚  Ã‚  Ã‚  Ã‚  Egyptian people believed in life after death. One of the way pharaohs prepared themselves for the afterlife journey was by building a pyramid and putting there all their belongings and riches. Egyptian people believed that pharaoh is the closest person to the God and treated him accordingly. That is the reason for Egyptian tombs being full with the golden jewelry, precious stones and art objects. Most of the time art objects were not considered a treasury but they played their particular role in religious rituals. Jars were holding food and drinks for pharaoh’s journey, so he would not get hungry and would have food and drinks to offer to the Gods. The figurative sculptures were suppose to accompany Ka ( spiritual entity) in its lonely stay or serve as a twin for the mummy. If something happens to the mummy the ka could use the sculpture of the pharaoh for the revelation. As well as for Egyptians religion was an everyday concern for many of the Maya, whether the dynastic ruler, the zealous priest, or the humble believer. Maya has an extensive religion structure which we can not know in details. Chac and Itzamna are the most famous gods of Mayan culture. Hunahpu and Xbalanque are among the most interesting mythical characters. One of the most crucial gods was Tlaloc, who was worshiped in various guises by the culture of Teotihuacan, the Toltec of Tula, and later Aztecs. The Maya received the cult of Tlaloc during the 4th century more or less. The Cauac Monster, also known as the Witz monster, is a... ...ties of the ancient Maya†. Mystery of Maya. CMCC. May 1999. http://www.civilization.ca/membrs/civiliz/maya/mmc01eng.html â€Å"Herodotus Reports on Mummification.† May 1999. http://pluto.clinch.edu/history/wciv1/civ1ref/mummy.html â€Å"Life in Ancient Egypt. Shabtis.† Ed. Craig Patch. Exc. from Reflections of Greatness: Ancient Egypt at the Carnegie Museum of Natural History. 1990. http://www.yahoo.com/egypt/ â€Å"Maya Civilization.† Mystery of Maya. CMCC. May 1999. http://www.civilization.ca/membrs/civiliz/maya/mmc01eng.html Newby, P.H. The Egypt story, its art, its monuments, its people, its history. Italy: Abbreville Press: 1979. Payne, Elizabeth. The pharaohs of Ancient Egypt. New York: Random House, Inc. 1984. â€Å"Photographs of Maya ruins of Tikal showing how Hasselblad cameras and Zeiss lenses result in better pictures†. Maya Art & books. International Photographic Archive of Maya Art. June 1998. http://www.maya-art-books.org/html/New_photos.html â€Å"The First Egyptian Mummies†. Corkankhamun explains mummification. May 1999. http://members.aol.com/mumifyddog/first.html â€Å"Why Egyptians Made Mummies†. Corkankhamun explains mummification. May 1999. http://members.aol.com/mumifyddog/first.html

Comparing Poe’s Fall of the House of Usher and Taylor’s Venus, Cupid, F

Edgar Allan Poe’s The Fall of the House of Usher and Peter Taylor’s Venus, Cupid, Folly and Time Various authors develop their stories using gothic themes and characterizations of this type to lay the foundation for their desired reader response. Although Edgar Allan Poe’s â€Å"The Fall of the House of Usher† and Peter Taylor’s â€Å"Venus, Cupid, Folly and Time† are two completely different narratives, both of these stories share a commonality of gothic text representations. The stories take slightly different paths, with Poe’s signifying traditional gothic literature and Taylor approaching his story in a more contemporary manner. Gothic texts are typically characterized by a horrifying and haunting mood, in a world of isolation and despair. Most stories also include some type of supernatural events and/or superstitious aspects. Specifically, vampires, villains, heroes and heroines, and mysterious architecture are standard in a gothic text. Depending upon the author, a gothic text can also take on violent and grotesque attributes. As an overall outlook, â€Å"gothic literature is an outlet for the ancient fears of humanity in an age of reason† (Sacred-Texts). Following closely to this type of literature, Edgar Allan Poe uses a gloomy setting, isolation, and supernatural occurrences throughout â€Å"The Fall of the House of Usher†. From the onset of the story, it is apparent that Poe is employing a gothic theme upon his work. The narrator’s portrayal of the home of his longtime friend, Roderick Usher was as follows, â€Å"I looked upon the scene before me – upon the bleak walls – upon the vacant eye-like windows – upon a few rank sedges – and upon a few white trunks of decayed trees† (Poe, 75). T... ... Poe’s â€Å"The Fall of the House of Usher†, they both can be classified collectively under gothic literature. In other words, although these stories exhibit two completely different plots, it has been found that they have matching frameworks. Works Cited Bronzino, Agnolo. Venus, Cupid, Folly and Time. 27 Mar. 2003 arthp/bio/b/bronzino/biograph.html>. Oates, Joyce Carol. â€Å"Realism of Distance, Realism of Immediacy [Review of The Collected Stories]. Critical Essays on Peter Taylor. Ed. Hubert H. McAlexander. New York: G. K. Hall & Company, 1993. Sacred-Texts: Gothic. 3 Apr 2003 . Taylor, Peter. â€Å"Venus, Cupid, Folly and Time†. The Literature of the American South: A Norton Anthology. Ed. William L. Andrews. New York: W. W. Norton & Company, 1998. PID 8308 1 Marlow Engl. 12 Sect. 24

Globalisation of Indian Economy Essay

Economic Reforms in India UNIT 27 GLOBALISATION OF INDIAN ECONOMY Structure 27.0 27.1 27.2 27.3 27.4 27.5 27.6 27.7 27.8 27.9 27.10 27.11 27.12 Objectives Introduction Globalisation and Economy Benefits of Globalisation Globalisation and Indian Industries Policy Changes Since 1991 Globalisation of Financial Markets Problems of Globalisation Efforts Required for Globalisation Let Us Sum Up Key Words Some Useful Books Answers/Hints to Check Your Progress Exercises 27.0 OBJECTIVES As you go through this unit, you will come to understand and appreciate the implications involved in globalisation of Indian economy. This unit is expected to help you answer the following: l l l l l l Is globalisation a reality and has India been able to adopt this; Examine the implications involved in the process of globalisation; Analyse the impact of globalisation on Indian economy; How do different sectors prepare to face the challenge of globalisation; What policy measures need to be followed for globalisation of Indian economy; and What conditions are required to have the best possible results? 27.1 INTRODUCTION In recent years there is no special phenomenon that attracts more attention in mass media and in the scientific public than globalisation. For nearly a decade the nation’s preoccupation has been with economic reforms. The enthusiasm and the excitement over ‘deregulation’, ‘liberalisation’ and ‘globalisation’ remain undiminished since the time the three buzzwords entered the scene. These terms are frequently used in any general discussion.The common person seldom understands the exact import of these terms but (s) he knows that they imply radical changes in life. The literate population surmises that liberalisation indicates a reduction of rigors in laws and procedures to permit more efficient conduct of business while globalisation stands for removal of protective barriers against free flow of trade, technology and investments among countries. It is also recognised  that the insularity and sheltered culture of industry and trade have to give place to a competitive environment, which would demand basic adjustments by the population, be they manufacturers, traders, workers or consumers. How this change is to be managed with the least pain and with maximum benefit is the major concern. There have been innumerable seminars and workshops on the three related terms in general and globalisation in particular. However, the ideas and the basic vision behind the dominant policy choices made since 1991 have not been 28 explained in simple terms by those professing to understand the policy choices. Policy makers and seminar speakers often assume that the objectives of globalization are understood by all. They, therefore, dwell on the ways and means to achieve globalization. Globalisation of Indian Economy 27.2 GLOBALISATION AND ECONOMY Globalisation has some very clear features (K.L. Chugh, 1992). Globalisation puts an emphasis on consumer concern and encourages competition. It is co-operative venture, where organisations and people complement and supplement each other in the service of the consumer. It is for this reason, that one now sees the international trend to source raw material from one country, process it in another country and then market it worldwide. As a result, globalisation helps to synergies the roles of each country. Globalisation leads to quality assurance and it is as a guarantee of their quality that manufacturers brand their products. It means a borderless world where there is a free exchange of money, ideas and expertise, fostering partnerships and alliances to serve the consumer best. Globalisation relies on the quality of people. No initiatives, no innovation, no solutions are possible without outstanding people. The quality and training of people, their vision and their commitment, is the very foundation of globalisation. Globalisation is the reversal of business from a macro to a micro point of view. What matters is the contact and collaboration between individuals and  firms in various countries. Globalisation is complete decentralization of location. It will internationalise human resources and remove geographical boundaries. The policy of globalisation emphasises that export sector should form an important ingredient of the national macro-economic aggregates. When exports form an important economic aggregate, the industrial growth to a substantial extent becomes dependent upon the export sector. When industrial production is attached to the export sector, indirectly the other sectors of the economy specially banking and services sector are also integrated with the export sector. Finally, since exports are dependent on the GDP growth of the major trading partners, the domestic economy c annot grow at a rate much different from that in the world economies. 27.3 BENEFITS OF GLOBALISATION What are the benefits of globalisation? Some of the benefits are as follows: i) Improved resource allocation due to the presence of a competitive environment ii) Exposure to international economies would lead to the availability of better technology, inputs and intermediate goods iii) Transfer of know-how and economies of scale Thus, globalisation implies a regime of perfectly competitive markets with no entry or exist barriers. However, the onset of such an environment is not without fulfillment of certain preconditions on the part of the corporates – global vision and global capability. Global vision implies that the corporate should have the ability to analyse the dynamic competitive environment and should be able to develop superior strategies in a way, which is relevant to the new global opportunities, i.e., should have the vision of analysis and leadership.Global capability attributes, on the other hand, are reflected in the ability to amass and deploy productive human, technological and financial resources at the right time and at the right place. 27.4 GLOBALISATION AND INDIAN INDUSTRIES The road to globalised markets has only fast tracks. There is no lane earmarked 29 Economic Reforms in India for leisurely traffic. This is a primary factor to be understood. When the country opens up its markets and invites new investors and new technologies from abroad, proven suppliers can come in with their quality goods, technologies and services at competitive prices. There is thus an anxiety that globalisation would become a one-way traffic, with imports flooding the local market, and throwing the indigenous industry and workers into misery. However, given the fact that Indian industries have absorbed modern technologies and some quality standards over the past five decades, they have the requisite strength and resilience to face the immediate challenges of globalisation. What is needed is strategic planning to fully tap the existing strengths and meet the initial pressures. In any case, the question today is not whether globalisation is inevitable, but how to tailor the method to fit each business when it embarks on globalization. One must turn the spotlight on the information imper atives for global competitiveness. Indian industry and business need to be on top of the corpus of information on a whole range of subjects such as product preferences, technology choices, price trends, rivals’ strengths and weaknesses, and investment sources. Without such mastery, no business enterprise can successfully aspire to a razorsharp competitive edge, which alone can assure it a recognizable market presence, let alone an unshakable market dominance. Inevitably, companies have to spruce up all aspects of operations, in terms of technology and design, material procurement, manufacturing processes, quality levels, finance techniques and dynamics of marketing for export promotion taking fair advantage of the liberalised environment provided by the government. Effective managerial information and control systems are essential for improving in house efficiencies and for quick assessment of the external market opportunities. Timely decisions and responses from delivery dates, assured quality norms, pro-customer policies and above all, a goal orientation, are needed to succeed in global pursuits. Productivity has to improve in all areas of management and the entire work force should wake up to the new realities through meaningful counsel ling and HRD techniques. A new sense of urgency to scale higher targets needs to be created in each employee and executive. Reduction in prices based on cost  control and waste elimination could bring in more orders and larger profits on enhanced turnovers. This is how countries like Japan emerged world market leaders. Competition has been the driving force for progress. A thorough reshaping of attitudes and redesign of work methods is imperative to bring in a totally new culture of activity and achievement. Each manager and supervisor has to lead by example, rather than by precepts, to prove that every new target can be achieved. Recognitions and rewards for meritorious performance in all cadres should serve as an incentive for better productivity. Policies of trade and investment liberalisation have a crucial role to play in providing an outward orientation, which will impose external audit on the domestic cost structure. Marketing strategies will have to be evolved which should take account of the global economic restructuring that is going on in the world today. Marketing strategies suited to every target country relative to its tradition and culture should be evolved and modified from time to time for achieving results. Flexibility and effective local liaison should form the core of the strategies. It is in this context the following three points are important: i) Making India the premier production centre of the world. In several sectors, particularly in agro-based industries, India has the skills and the investments, which make it the lowest cost producer in the world. These investments can easily obtain a share of the world market and all that is required is to develop alliances with partners overseas and support it with a national policy for each sector. 30 ii) Indian corporations to go into world markets and to become India’s â€Å"multi-nationals abroad, with markets, and later, production centres spread across the globe. Here again, India has a natural advantage in certain sectors such as the knowledge-led services and wide range of agricultural, industrial and fashion products. iii) Attracting foreign investments to make India their home base for their world markets. India has amongst the world’s largest trained manpower, including farmer and scientists, engineers and professionals, entrepreneurs and skilled workers. The cost of people is much lower in India than in the developed world and provides a significant competitive advantage to India. The introduction of full convertibility of  rupee on current account will greatly accelerate not just foreign investments in India, but also the export-import trade. If India succeeds in attracting foreign investment, particularly in the area of infrastructure, then it would be possible for the government to re-invest into the rural sector. This will have its own beneficial impact on the total economy, as India’s prosperity is entirely dependent on the rural, farm economy. This will help to usher in a second green revolution in the country. To successfully participate in the world economy, India needs to build strategic alliances – not just between trading blocks, but between corporations; and not just between foreign partners and India but partnership within Indian industry itself. Check Your Progress 1 1) What do you mean by globalisation? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2) What is the implication of globalisation for an economy? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3) Highlight the implications of globalization for Indian industry? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Globalisation of Indian Economy 27.5 POLICY CHANGES SINCE JULY 1991 Globalisation presupposes two things — political will at the macro level which is reflected in various policies pursued by the government and corporate will at the micro level which is established by the existence of a global vision and capability. The government has moulded its policies. In this regard, one can take a look at the following policy changes: 31 Economic Reforms in India i) A two stage devaluation of the rupee by about twenty percent in July, 1991 in an attempt to align the exchange rates with the world exchange rates and provide additional incentives to the exporters to offset some of the disincentives arising out of the import barriers. ii) Introduction of a system of partial convertibility of the rupee under the liberalised exchange rate management system (LERMS) and then allowing full convertibility of rupee on current account. iii) Foreign direct investment (FDI) has been liberalised and now the foreign investors are allowed to participate upto 51 per cent, 74 per cent, and even 100 per cent of the equity of select industrial sectors. iv) The list of products requiring import license has been pruned which shows that physical controls are given way to fiscal controls (all quantitative restrictions are removed by April 1, 2001) v) Import duties have been reduced. vi) Import of capital goods has been allowed without any specific licence if the payment for the imported capital goods is made out of foreign exchange received for the purpose of equity participation. vii) Decentralization of several items has taken place and those items, which were initially under the purview of government agencies, are now being opened to private companies. viii) Foreign institutional investors (FIIs) are given permission to invest in the Indian capital market. In fact, SEBI has already recognised several FIIs for this purpose and they have started making investments also. ix) Guidelines have  been issued for the floating of Euro issues by the Indian companies. x) A major step towards globalisation has been to amend the Foreign Exchange Regulation Act, 1973 (FERA), which substantially dilutes its regulatory provisions to bring it in line with the new liberalised industrial, trade and exchange rate policies. The Act has removed a large number of restrictions on companies with more than 40 per cent non-resident equity and removed FERA controls on Indian firms setting up joint ventures abroad. The amendment also incorporates into law all the changes, which have so far been made by issue of notification by the RBI or the central government. These changes pertain to facilities extended to FERA companies on the appointment of technical and management advisors, opening of branches, acquisition of immovable property by FERA companies in India, borrowing of money or acceptance of deposits by them etc. Also, in an effort to rationalise the Act, about a dozen sections of FERA, 1973 were deleted as these had lost relevance over time. (As a matter of fact FERA 1973 itself is repealed and in its place a new liberalised legislation has been enacted which is known as â€Å"Foreign Exchange Management Act (FEMA†). xi) Guidelines have been specified for setting up of Indian Joint Ventures Abroad (IJVA), which would enable 90 per cent of the proposals to be covered through the automatic approval route. The main objective here is to liberalize Indian equity investment in joint ventures and wholly owned subsidiaries abroad as well as to simplify the procedures for investment abroad by the Indian parties. xii) Automatic permission is given for foreign technology agreements upto certain ceilings covering the high priority industries. 32 xiii) Foreign technicians can now be hired by Indian companies without prior approval of RBI if certain conditions are met. xiv) The foreign investment promotion board (FIPB) has been instituted to facilitate and promote foreign investment. These measures establish the fact that the government is indeed serious to help the industry globalize. The industry, on its part, is becoming more and more receptive to these structural reforms. The industry has responded by opting for industrial tieup as a threshold to building a global strategic presence. Thus, there is a wave of multinational  corporations (Macs) entering the Indian market and Indian businessmen too are fast setting up shop on the foreign shores. To survive the threat of global competition, Indian companies have no choice other than to restructure their business. The way to tackle this would be to understand the need for change (the way?), the paradigm shift required (the what?), the implementation process (the how?), and prioritisation of the problems awaiting solutions (what is next?). Globalisation of Indian Economy 27.6 GLOBALISATION OF FINANCIAL MARKETS India has been making use of the international financial markets. Exchange rate and interest rate movements now constitute the key variables. The volatility of exchange rates has turned out to be both a proximate cause and effect of capital movements. This in turn has made them autonomous variables not directly related to movements in the real sectors of the economies concerned. Another aspect of the vulnerability results from the quick transmission of impulses generated in one leading market to others. Today, financial markets are global in scope; where the distinction between money and other financial assets is not so clear cut and indeed there is continuum of liquidity; where the line of distinction between financial intermediation by the banking system and other non-bank intermediation is also getting blurred; and as a corollary of this where financial institutions themselves are losing their specialist character. Their wide geographical coverage is matched by wide functional activity against the background of increasingly intense competition.This has meant better opportunities both for the players in the international financial markets and those that transact business with them. Never have the world financial markets been so integrated and offered so wide a variety of services. India is affected by trends in capital movements, exchange rates and interest rates. A more liberal domestic financial sector would be better able to interact with international financial markets. India has only been reacting to events abroad, i.e., India remains ‘events takers’ rather than ‘events makers’, but even so, there is need for providing for a measure of structured rather than ad hoc response to external events. This is also a matter of determining the  rational sequencing pattern of increasing its markets’ linkages with the international markets. A cautious and step-by-step approach in terms of a well thought out framework of such linkages is called for. While Indian financial institutions and business should gradually and in a structured way get into the operations of the international financial markets, globalisation of the Indian financial sector is indispensable if it has to become efficient, vibrant and truly competitive in the years to come. The process of globalisation involves two distinct challenges: (i) technological upgradation through computeriation, and (ii) establishing and forging links with international financial markets. The Indian financial sector has been a late starter in mechanizing and computerising its operations. Regrettably, introduction of new technology is rather slow. What is even worse, the installed hardware does not 33 Economic Reforms in India seem to have been utilised to its full potential. This unfortunate state of affairs must end. The Narasimham Committee has endorsed the view of the Rangarajan Committee on computerisation. At the economic policy level, the issue of forging links with the international financial markets is closely intertwined with interest rate deregulation and convertibility of the Indian rupee. 27.7 PROBLEMS OF GLOBALISATION An outward looking or globalisation policy carries a price, as it demands certain constraints on the formulation of national policies. These constraints are: i) The international economic environment has qualitatively changed. When the industrialised countries are subjected to economic fluctuations, the dependent developing countries will have to bear these economic shocks. ii) There is a relationship on the one hand between investment made for exportoutput and income generated via the multiplier, and on the other hand  between income generated and imports via propensity to import. This problem stems from the fact that income multiplier effect in a developing economy is higher than in a developed economy due to a higher marginal propensity to consume. Consequently, demand generated is also relatively higher in the developing economies than in the developed economies. This rise in demand, under certain given conditions, will push up the domestic price level and if marginal propensity to import does not recede, it will further lead to higher imports to the extent that proportionate rise in imports may exceed proportionate rise in exports and thus the trade balance is shaken. iii) The formation of a trade block in North America that has given rise to free trade between the US and Canada has created a new situation. With this, cartel like conditions will prevail on the demand side in these markets whereas competition amongst the suppliers, intra-country and inter-country, will continue. It is in these changed market conditions that India has to adjust itself. Thus, not to speak of pushing up its share, even survival will prove a gigantic task for India. In view of this, a better course for India will be not to rely too much on an export-led growth under the existing world scenario. In this market oriented world there is no godfather who may come to India’s rescue without asking for its pound for flesh.Globalisation is perhaps irreversible. Success comes to those who learn to live dangerously. At best one can moderate the pace of globalisation. But globaliation is a conditional boon. One must put one’s own house in order or at least mismanage it much less to get the boon working. India’s options are limited. One of them is to let the rupee fall freely. If the rupee depreciates, then the expectations of capping prices through imports would also be punctured. The existing framework of global governance is weak, ad hoc and unpredictable, with international economic decision-making dispersed over numerous institutions, which are mostly dominated by the rich countries. Continued inhospitable international economic environment will frustrate the developing countries’ determined efforts to end stagnation through liberalisation, market-oriented reforms and outward-looking policies. Denial of access to markets, debt burden, inequities in global monetary, financial and trade systems, barriers to transfer of technology, dwindling flows of concessional resources, reluctance of foreign direct investment to flow to developing countries are  making quantum jump from stagnation to sustained growth almost impossible. 34 Domestically, there are several problems and issues, which act as hurdle towards global integration. These are : (i) gross inequalities in income, (ii) poor infrastructure, (iii) lack of research facilities, and (iv) the problem of bureaucratic set up. According to Professor, P.R. Brahmananda (1993) the economies are being asked to perform functions assigned to market systems without the requisite infrastructures in storage houses, communication framework, trading establishments, organised stock exchanges, future markets, banking and financial institutions with branches, employment exchanges, commercial news-papers, advertisement media etc. Thus, the transformation of the market has been sought to be achieved in a vacuum. Private property in land, capital and financial assets etc., has yet to be established universally. The information basis for a market economy is virtually absent. The state is simply divesting itself of its functions without compensating new institutional arrangements. Capitalism cannot be established without capitalist institutions and a legal framework. Consequently, the transaction costs in the transitional processes have risen enormously, and great profits are being made by informal financial trading and information intermediaries. Consequently, the underlying basis for elastic supply schedules in various relative production lines has not come to exist. The institutions such as IMF, World Bank and WTO are emerging as the watchdogs and monitors of developing countries on behalf of the developed. The loans are sources of additional demand for the products of the developed. The pressures on the movin g down of exchange rates of the borrowing countries will be stronger. Further, there will be strong pressures to make the developing countries bring down the import duties and to free domestic markets. Internationally, the point of worry is that major economies of the world are going through a major recessionary phase and are increasingly turning inwards in an effort to balance their domestic and international priorities. Thus, even they continue to preach the articles of globalisation and opening up to the world, they themselves are forming closed trading blocs, NAFTA, Paciffic Basic Trade Bloc, being a few such examples. Thus, there are both, opportunities and hurdles in the entire process. Whereas the domestic ones can be overcome by the necessary reforms,  the trade policies and structural movements towards opening up may be slowed down by the protectionist polices of the industrial countries. According to Uncial’s Trade and Development Report (TDR) 1997, the invisible hand (market) now operates globally and with fewer countervailing press ures. It has sounded out a wake-up warning to countries that their faith in markets and economic openness could be overwhelmed by political events, since evidence is mounting that slow growth and rising inequalities are becoming more permanent features of the global economy. The policy efforts of developing world should be accompanied by an accommodating global milieu. But, among the asymmetrie of globalisation is the fact that liberalization of the world economy has proceeded so far in a lop-sided way that tends to prejudice the growth prospects of developing countries by discriminating against areas in which they could achieve comparative advantage. Thus, liberalisation of trade in goods has proceeded more slowly in those sectors where developing countries are more competitive. Major trading blocs continue to protect their agricultural sector. New forms of protection against exports of manufactures from the South are being sought as a remedy for labour market problems in the North. While many curbs have been lifted on the freedom of capital and skilled labour to move where it is Globalisation of Indian Economy 35 Economic Reforms in India best rewarded, no attention has been paid to abolishing many restrictions on the freedom of movement of unskilled labour. Ultimately global efforts to help developing countries could still come to nothing if the slowdown in economic growth in the North is not reversed. For a return to faster growth, the policy of full employment is not only a pre-requisite for resolving the twin evils of high unemployment and increasing wage inequality in the North, but is also essential for defusing the threat of a population backlash against globalisation, which might put the gains of global economic integration at risk. Check Your Progress 2 1) Highlight the implications of globalisations for Indian financial markets. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2) Mention three problems associated with globalisation. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 27.8 EFFORTS REQUIRED FOR GLOBALISATION While globalisation has arrived in the world, most organisations are still not ready for it. Yet, there is little doubt that to be viable during the next century, all organisations whether domestic or international, will need to become more global in their outlook, if not in their operations. The global organisation is a consequence to several new and sophisticated forces that have come to shape the world economy over the last decade. These are: (i) aggressive and massive financial accumulation and relatively free-flowing resource turner; (ii) well-defined and efficient communication channels; (iii) information transfer and control systems; (iv) technology development and application that seek both leading edge and low-cost product creation and production and clear recognition of the potential for mass markets, mass customisation, and (v) global trends. A joint industry-government working group set up by the Ministry of Commerce has recommended that the country should undertake corporate sector type advertising campaign in major international markets in order to improve the international image of Indian industry and goods and services. It suggested a two-step promotional strategy, beginning with a focus on image building for the country as a whole to combat its adverse image, followed by specific campaigns aimed at generating trade and investment flows. The expansion of  international trade and the rapid growth of products and services out of India will be enormously assisted if the image of India is improved by a special, sustained and co-ordinated effort by government and industry working together. Many developing countries like India do not have strong reputations. It is therefore imperative to build credibility among a targeted group of buyers and investors. 36 In this context, twelve different promotional techniques used by other countries have been advocated by the working group. These are: (i) advertising in the general economic media, (ii) participation in trade fairs and exhibitions, (iii) advertising in sector specific media, (iv) trade missions to select countries, (v) general information seminars on trade and investment opportunities, (vi) direct mail campaigns, (vii) industry or sector-specific missions to select countries, (viii) sector-specific seminars, (ix) firm-specific research followed by sales presentations, (x) provision of trade and investment counselling services, (xi) speeding up the processing of applications, and (xii) provision of post-investment and post-trade services. Moreover, while a host of bodies such as the Ministries of commerce, external affairs and finance, and several chambers of commerce are involved, there are no national coordinated efforts. Therefore, promotional work should be entrusted to an agency owned and funded jointly by the government and industry. However, it should function outside the purview of normal civil service rules and practices, should perhaps be a registered society, and â€Å"should be run as a non-governmental, private sector organisation with a work culture different from government†. It may be emphasised that the organisation must be staffed by multi-disciplinary professionals, drawn not from the government but from the private sector. â€Å"Essentially, a small, compact, fast moving group of people, led by a dynamic leader with task of promoting India internationally. As the international orientation of the Indian economy and Indian industry increase, it becomes essential for Indian industry to take ca re of details. Sustained efforts over a period, therefore, become necessary to build credibility. With this as the objective Confederation of Indian Industries  (CII) has drawn up a list of â€Å"Do’s and Don’t† for Indian industry to assist companies to deal effectively in international trade. In justifying the structural reforms that are being introduced in the Indian economy, the advocates of these reforms have brought the question of competitiveness to the centre of the discussion. Their argument runs as follows: The Indian economy needs to be integrated to the world economy. Globalisation requires that the Indian producers be competitive in the global market. It is only through these reforms that they can acquire the competitiveness and, therefore, the reforms are essential prerequisites for successful globalisation. Globalisation has of late become an objective in itself. This is both dangerous and ludicrous. Globalisation should not be considered a goal in itself and that it was merely a means to the ultimate aim of improvement of the economy. This s imple objective needs reinforcement among the experts if the avoidable pitfalls of an economy in transition are to be avoided. Transition is a word that triggers both unease and heightened expectations. It is very important for us to cope with the unease if we are to satisfy the heightened expectations of nearly a billion people. The strengthening of the internal economy was a pre-requisite for a globalising economy. Given the ultimate aim of globlisation and given the pre-requisite for a globalising economy, the ultimate aim of improving the economy appears to be both the means and the end. This simplification without the use of expensive-sugarcoated words is the right approach to addressing the unease and the positive expectations. The theoretical elegance of globalisation has its own attraction. It may help India to find some partial explanations for success and failure by systematically analysing the ability of a small set of firms to manage change. But India needs practical and profitable applications that would be relevant to the large set of firms and individuals. It needs consistent policies that can help to upgrade India’s position in international competition in a s ubstantial and enduring way. Towards this, India needs to find out what it is good at so that it can better achieve the best possible. The process of finding out what India and its firms are good at is yet to Globalisation of Indian Economy 37 Economic Reforms in India be put into motion at the national level and all the talk about globlisation is at best wishful and premature. Globalisation requires both static efficiency and dynamic efficiency, more of the latter than the former, and India is at a stage when it is unsure of economy’s static efficiency. A nation that is unsure of static efficiency is least equipped to pay for the dynamic extra options that are essential to guarantee success. The power blackouts in the states are an example of unsure, unreliable static efficiencies. Check Your Progress 3 1) Mention five new forces that shape the world economy. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2) Mention a few promotional techniques that need be adopted by India. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 27.9 LET US SUM UP India ought to know what it is good at before embarking on what it needs to be good at in order to reduce the unease and sustain the expectations of a prosperous future. A prosperous future is predicted on the competitive  advantage of firms in all sectors of the economy. The basis of competitive advantage in many sectors and industries, each seemingly distinct, depends on a set of critical elements common to a range of sectors. The set would obviously include transportation facilities, trained labour, energy, education and health. This set is indisputably at the heart of the economy. Its static efficiency needs to be improved. This is a prerequisite for sustaining and expanding the technical possibility set. Globalization would then be a clinch. â€Å"Behind the cost of production of every commodity, there is a story. It may be a story of innovation, technical progress and modern labour process, or it may be one of sweated labour, primitive labour process and pollution. By putting a price sticker on all commodities, the market suppresses these stories, and thus hides more than it reveals. It is like one of those dark nights in which all horses appear gray. No country today can live behind closed doors. Third world countries therefore must globalise. But while attuning the economy to the needs of the global market, it should be kept in mind that globalization does not generate the process of development, it is the latter that leads to, and in turn is reinforced by, successful globalisation. Unless the process of development which is basically a highly localised process – successfully triggered off, globalisation may lead to the classification of the structure of underdevelopment, instead of causing its dissolution† (Kalyan K. Sanyal, 1993). 38 It is interesting to note that the Nobel Laureate Professor Amartya Sen support  removal of government control over industry and commerce and even endorses globalisation provided welfare is not ignored. He admits unhesitatingly that with the initiation of the right kind of policies, globalisation would secure more prosperity. Globalisation of Indian Economy 27.10 KEY WORDS Backwash Effects: These operate where the economic growth in one region of an  economy has adverse effects on the growth of other regions. Common Market: An area, usually combining a number of countries, in which all can trade on equal terms. Exchange Rate: The rate at which one currency may be exchanged for another. Financial Capital: The liquid as opposed to physical assets of a company. Public Utility: Essential good or service like power, gas, transport etc. A company or enterprise, which is the sole supplier of some of these essential goods or services and is, in consequence, subject to some form of government control. Trade Blocs: Association of group of countries for safeguarding their interest visà  -vis other non-member countries, like European Union (EU) and North America Free Trade Agreement (NAFTA), ASEAN, APEC etc., are some of the example of such trading blocs. Members of these trading blocs have eliminated all barriers to trade amongst member countries. The 15 members of EU have created a single internal market. 27.11 SOME USEFUL BOOKS Bhalla, G.S. (1995): Globalisation and Farm Policy (Presidential Address delivered at the 54th Annual Conference of the Indian Association of Agricultural Economics at Kolhapur) Business Line, January 12-27. Brahmananda, P.R. (1993): Global Economy, Plea for Realistic Scenario, Financial Express, December 30 & 31, January 1, 1993. Chandra, Nirmal Kumar (1995): China’s Tryst with Globalisation, Economic & Political Weekly Jan.28. Chugh K.L. (1992): The Role of Corporation in the New India, speech at the 81st Annual General Body Meeting of ITC Ltd., Observer of Business and Politics, August 10. Dhingra, I.C. (2000): The Indian Economy : Environment and Policy, Sultan Chand & Sons, New Delhi. Kumar, T. Krishna (1996): Management of Development in the Newly Emerging Global Economic Environment, Economic and Political Weekly, June 22. Malhotra, R.N. (1989): Globalisation of the International Economy and its Implications for Developing Countries in Asia, Reserve Bank of India Bullet in, October. Narasimham. M. (1989): Globalisation of Financial Markets in India, Exim Bank Commencement Day Annual Lecture 1989, Mumbai. 39 Palkhiwala, Nani A (1995): Making Indian Industry Globally Competitive, Forum of Free Enterprise, Mumbai, May-June.