Minimum Wage Should Be Legal - 1156 Words

In United States, we hear the government, businesses argued about minimum wage. Whether it should be raised or leave it the way it is. But, what exactly is minimum wages? Minimum wage is the least amount of money per hour that must be paid to a worker after surrounding a service according to the law. Many working class families’ lives depend on this minimum wages. There are few families who make less than $15000 a year who feed their families on this salary and still pay bills from it. Over the past year, the federal government has been working toward raising the minimum wage but not all the congress women and men agree on this takes, also not all employers are ready to raise the amount per hour for their employees. Over the last few years, the government has argued on whether it’s right to raise the minimum wage, to distinct who it will benefit more. There have been several laws that have been passed to raise the minimum wage but, the federal government decided to give s each states the right to choose whether they would want to raise their minimum wages. Body When it comes to the issues of raising the minimum to better those middle and lower class workers, not everyone has that mind set to agree. Most people like the congress and other employers feel raising the minimum wage will have a negative effect on the economic. For some workers, the lowest pay permitted by law livelihood was an impermanent, young condition, as we cleared eating areas or addressed telephones orShow MoreRelatedMinimum Wage Should Be Legal1427 Words   |  6 PagesThere has been a growing desire for minimum wage to be set at $15 an hour. While many of our lowest pay employees will be getting paychecks, workers who have been at businesses longer feel like they’re being undermined. Employees say that it is not fair for a new worker to be earning as much as someone who has been apart of the company for three years. Also, raising minimum wage poses a financial and management challenge for employers. Numerous cities have passed wage increases in the past year, and Read MoreMinimum Wage Should Be Legal1307 Words   |  6 Pagesconcept of minimum wage has been a huge issue among Americans and has really become a large discussion point among a lot of the political debates as well as the Internet recently. According to the United States Department of Labor, â€Å"The federal minimum wage is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both†. Regardless of the constant debates that occur on whether or not minimum wageRead MoreMinimum Wage Should Be Legal940 Words   |  4 PagesMinimum wage is now at a steady $7.25 per hour and shows no sign of increasing anytime soon. There are states right now at the time that are trying to raise the minimum wage, and see how this will effect the economy of the area. As prices continue to increase in every day expenses, it becomes hard for us to keep up and be able to provide for our family or get even the basic necessities that we may need. People are saying that with more money, they will spend more back to the economy, thus helpingRead MoreMinimum Wage Should Be Legal1239 Words   |  5 PagesRaise Minimum Wage There is not one state in the US where a minimum wage worker can afford a two-bedroom unit at fair market rent, working a standard 40-hour work week(There are a few states where this is not true. Also, the fair market rent is the average cost. It doesn t reflect the super expensive and bottom rent places). The federal minimum wage would be $10.86 [per hour] if it had kept up with inflation over the past 40 years. Instead, it is $7.25 [per hour]. Every state in the US should haveRead MoreThe Minimum Wage Should Be Legal905 Words   |  4 PagesRise in minimum wage has several impacts apart from unemployment. The minimum-wage workers would have to pay more taxes and receive fewer benefits if they are subjected to rise of minimum wage. The federal marginal rate for tax is 32 percent on an average for low earning members. This would amount to almost one third of the income of a worker. The tax rate is quite high for low paid workers. The rise of minimum wage would also reduce some of t he advantages and leverages that the low-wage workersRead MoreMinimum Wage Should Be Legal1435 Words   |  6 PagesMinimum wage is currently a very heavily debated topic. Many are in favor of raising the current national minimum wage of $7.25 to a more livable wage; suggestions for this increase are anywhere between $9-15 per hour. While the minimum wage has been raised several times throughout the years, it has not been kept proportional to raises in inflation which has led to a decrease in the amount of goods that people are able to buy with those wages, in turn making their economic lives more difficult. ThoseRead MoreMinimum Wage Laws Should Be Legal900 Words   |  4 PagesMinimum wage bill majorly refers to a price control that is imposed by the government. The price control concept set a floor indicating what the minimum price must be paid or be imposed on certain services or goods (Murphy). The main aim of a government setting up price controls is always to ensure individ uals or employers of a certain job group receive fair wages. Also, the minimum wage laws are mostly used by the federal government to ensure a basic quality of life among all the countries citizensRead MoreThe Federal Minimum Wage Should Be Legal2004 Words   |  9 Pagesinvolved in an impassioned debate over the federal minimum wage. As of October 5, 2016, the federal minimum wage is set at seven dollars and twenty-five cents an hour. There are numerous amounts of stakeholders when it comes to minimum wage. The three stakeholders mentioned in this essay will be Companies, Employees, and the Economy. In addition to the stakeholders, this essay will also dig into the history of the United States Federal Minimum Wage and see how it has progressed over the years and ifRead MoreRaising The Federal Minimum Wage799 Words   |  4 Pages In the US, President Barack Obama urges Congress to raise the federal minimum wage to $10.10 an hour from $7.25. Although some Republicans oppose to th is action, overwhelming majority of Americans see that is a good idea (The Guardian, 2014). Regarding to the issue of minimum wage, there have been lots of debates for a long time. Some economists such as Milton Friedman deeply believe that minimum wage kills jobs, but some like Alan Krueger and David Card think, to some extend, it actually increasedRead MoreThe Challenges of Implement a Minimum Wages Policy1077 Words   |  5 PagesCreating a so called â€Å"culture of compliance† among employers (Skidmore 1999: 435) is a low-cost strategy for facilitating the self-enforcement of minimum wage. This strategy implies the construction of persuasive arguments in favor of the minimum wage and the appeal to common values and beliefs such as, for instance, the principle of â€Å"fair pay – fair play†. Here, two main strategies for building commitment among employers can be identified. First, persuasive processes at the interpersonal level

A Short Note On The Protect Ip Act - 1284 Words

Deniz Soybas Although the PROTECT IP Act may put somewhat of a stop to online piracy, it is quite costly. The act was estimated the cost forty-six million dollars over the 2012-2016 period. This is due to the fact that the act would force new requirements on companies such as Internet service providers, credit card companies, online advertisers, and search engines. The cost of the act created an uncertainty along the Congressional Budget Office. The PROTECT IP Act states that an â€Å"information location tool shall take technically feasible and reasonable measures, as expeditiously as possible, to remove or disable access to the Internet site associated with the domain name set forth in the order†.(â€Å"Balancing Digital Theft Prevention and Freedom of Expression.†) In addition, it must delete all hyperlinks to the offending â€Å"Internet site†. In other terms, if a website is found to be providing pirated media, the internet provider such as Verizon, or Opti mum, would be required to blacklist the website. Later, the copyright holders would have the right to sue the website. There are multiple different ways that people could still pirate media while the PROTECT IP was enacted. These include using a VPN service, using web proxies, and changing your DNS server. There is no proof that blocking access to websites will have a permanent and long effect on the piracy. The owner of the rogue websites are able to create a new website just like the old by simply registering the blocked websiteShow MoreRelatedResearch Paper On DNS System1017 Words   |  5 Pagesdevices through a network. Each network will have unique address called IP Address. Being very hard to remember all the IP address and to make the Internet access easy and understandable , DNS came into existence. DNS means Domain Name System. Looking at the other side, even though access is made easy, it lead the Internet vulnerable to Hackers. Hackers can do more damage when it comes t o DNS because of its functioning where all the IP addresses ,Client Servers etc., are handled at one stop like DNS. ThereRead MoreHow Do You Tune An Idea? Essay1177 Words   |  5 Pagesprototype. When you would make a slide with the gist of the prototype, it is generally named pitch. A pitch deck basically is a brief presentation, often created using PowerPoint, Keynote or Prezi used to provide your audience with a quick overview/short summary of your company, business venture and startup. You will usually use your pitch during face-to-face or online meetings with potential investor or clients. According to the famous evangelist and author, Guy Kawasaki, who is also an American marketingRead MoreMarketing Procedure And Supply Chain Management System Essay1168 Words   |  5 Pagesprototype. When you would make a slide with the gist of the prototype, it is generally named pitch. A pitch deck basically is a brief presentation, often created using PowerPoint, Keynote or Prezi used t o provide your audience with a quick overview/short summary of your company, business venture and startup. You will usually use your pitch during face-to-face or online meetings with potential investor or clients. According to the famous evangelist and author, Guy Kawasaki, who is also an American marketingRead MoreWireless Security3469 Words   |  14 Pages have varying capabilities and limitations both as computing devices and as client devices accessing corporate networks. The wireless networks that support mobile devices are similarly diverse. By relying on industry standard protocols like TCP/IP, HTTP, SMTP and TAP, Mobile Services for Domino supports many of the major wireless networks currently in operation. This standards-based approach also provides MSD with a common security model that can operate across wireless networks, while at theRead MoreComputer Hardware and Servicing Nc Ii Reviewer2795 Words   |  12 PagesAND SAFETY PROCEDURE (Written) Always ground or discharge yourself before touching any part of the computer Do not work alone so that there’s someone who can take care of you in case of accident or emergency. Be careful with the tools that may cause short circuit Always full the cable connector on the handle and not on the cable itself Use only rubber shoes when standing on the ground or in a concrete floor Make sure that the pins are properly aligned when connecting a cable connector. Always powerRead MoreThe Importance of Corporate Network Security Essay2849 Words   |  12 Pagestailored to mee t specific requirements. The design is to ensure total quality service delivery by incorporating the relevant software and databases alleged to a corporate body. Communication protocols designed for any network will always assume the TCP/IP or OSI Models. Computer networking therefore uses a uniform internal pattern and mode of operation to ensure success in networking. This is regardless of the external configuration of computers, routers, hubs, switches, and other networking devisesRead MoreInduction Training Essay1861 Words   |  8 Pagesgovernment directory to find contact details for your local council. Intellectual property ïÆ'Ëœ Protecting your intellectual property (IP) gives you the legal entitlement to that IP. You can protect your IP using trademarks, patents and designs. ïÆ'Ëœ You will need to review and, if appropriate, renew IP protection regularly (e.g. trademarks must be renewed every 10 years). ïÆ'Ëœ IP issues are complex and you should seek specialist advice. Employment ïÆ'Ëœ Legally, when you employ staff you must meet certain employerRead MoreDifferent Standard Of Polyvalent Antivenoms And Improve Quality Of Treatment Patients1563 Words   |  7 PagesDNA origami scaffolds â€Å"allow the arrangement of thousands of nucleotides with sub-nanometer precision at specified locations in space to yield a diversity of objects with nanometer-scale dimensions (Castro et al).† They are created by hybridizing short single-stranded staple oligonucleotides to a long single-stranded scaffold molecule. â€Å"This method uses a 7 to 8 kb long M13mp18 phage-derived DNA single strand that is folded into a desired shape by some 200 oligonucleotides (Schuller et al).† TheRead MoreRed Hat Enterprise Linux 6 Security Guide50668 Words   |  203 Pagesrunning Linux can be both fully functional and secured from most common intrusion and exploit methods. 4 Table of Contents Table of Contents Preface 1. Document Conventions 1.1. T ypographic Conventions 1.2. Pull-quote Conventions 1.3. Notes and Warnings 2. We Need Feedback! 1. Security Overview 1.1. Introduction to Security 1.1.1. What is Computer Security? 1.1.2. SELinux 1.1.3. Security Controls 1.1.4. Conclusion 1.2. Vulnerability Assessment 1.2.1. T hinking Like the Enemy 1.2.2. DefiningRead MoreHistory of Firewall18739 Words   |  75 Pagesintruders dates back thousands of years. For example, over two thousand years ago, the Chinese built the Great Wall as protection from neighboring northern tribes. A second example is that of European kings who built castles with high walls and moats to protect themselves and their subjects, both from invading armies and from marauding bands intent on pillaging and looting. The term â€Å"ï ¬ rewall† was in use by Lightoler as early as [1764] to describe walls which separated the parts of a building most likely

Hp Swot Matrix Free Essays

HP SWOT Strengths of HP 1. Global presence. 2. We will write a custom essay sample on Hp Swot Matrix or any similar topic only for you Order Now Strong brand image with high quality of product and service. 3. Providing customers service with specific technical support. 4. Successful Strategic Acquisitions. Hewlett-Packard has strong financial condition. Hewlett-Packard is a global company and became world’s biggest computer hardware. The growth of 26% in the Americas; 28% world-wide percent in Europe, the Middle East, and Africa; and 16 percent in Asia Pacific and Japan with the broad-based global recovery (HP Annual Report, 2010). Hewlett-Packard is maintaining the No. 1 position in worldwide market share, as well as healthy average selling prices. Hewlett-Packard is differentiating through remarkable product design and customer experience from the range of high-end gaming PCs to sleek, powerful notebooks to fashion-inspired netbooks and innovative smartphones (HP Annual Report, 2010). Hewlett-Packard has its own support organizations to provide customers service with specific technical support. Hewlett-Packard can provide end-to-end IT solution, including infrastructure technology, business process outsourcing, technology support and maintenance, application development and support services and consulting and integration service. Hewlett-Packard continues on recognizing and capitalizing on strategic acquisitions. The company’s major mergers and acquisitions in recent past include Compaq Computer Corporation in 2002. In April of 2010, Hewlett-Packard announced to buy Palm for 1. 2 Billion. It increases its competitiveness therefore creates value for investors and customers of the company. Weaknesses of HP 1. Weak Market Segment Integration 2. Over rely on three-party supplier 3. RD department has significantly less investments 4. Not comprehensive product portfolio HP lack presence in some segments. Comparing to its major competitors, such as Accenture, EMC and IBM, HP’s portfolio offers less significant on software product or manage consulting services. Also, according to HP 2010 annual report, it has a great preformance on enterprise customer market but weak at small-scale market. HP over rely on three party supplier. HP’s procurement expenditures for materials, manufacturing and assembly of HP’s products all over the world. The suppliers includes contract manufacturers, electronic manufacturing services providers, original design manufacturers, and commodity suppliers. It is would be compliated and difficult to remain the relationships with the suppliers. HP invest less on RD, compare to historical spending. HP does not develop the new technology for new product. Althoug HP has its brand smart phone, however, this properly attributes to the acquiring Compaq. For the smart phone technology, HP is leaved behind its competitors. Thus, they trend to acquire Palm. HP’s competitiveness mainly focus on 14. 1 inch notebook, however, the 15. 4 inch notebook is the current second largest market need. HP product line lack of attention on 15. 4 inch notebook. And also HP hardly focus to 13. 3 inch product. However, those size of notebook is the market need. It seems HP has not comprehensive product portfolio. Threats of HP †¢ Hyper-competition in IT market †¢ High bargaining power of Smartphone market †¢ Slowdown in economic conditions in US †¢ Foreign currency exchange rate Although Hewlett-Packard is maintaining the No. position in worldwide market share, some of the companies as a formidable competitor threatened in IT market such as Toshiba, Lenova Group and Aver. They compete in terms of price, quality, brand, technology, reputation, distribution and also range of other products. Hewlett-Packard wants to redevelop their Smartphone market, but they lack of this experience and technology . Hence, compare with Apple, Google, it still has a lot of space to improve and catch up. So this is the high bargaining power in Smartphone market when they want to expand this market. The economic slowdown has negatively affected many market segments, including information technology. Hewlett Packard has experienced this decline not only in the U. S. but also in its global markets. Worldwide spending on IT was predicted to decline by 4% in 2009. Foreign currency exchange rate is one of the external factors that we cannot expect. It is the big threat when foreign currency exchanges rate changes, it might influence the cost of production or the selling price in different countries. Opportunities of HP †¢ High growth rate of Smartphone market †¢ Change of lifestyle Change of consumer spending †¢ Innovation of 3C(Computer, Communication, Consumer Electronic) products The Smartphone market is having the high growth rate of nowadays. According to the researcher ISuppli Corp. , the global Smartphone shipments may increase 36 percent to 247 million in 2010. The high growth rate can reflect the demand of Smartphone is also high for customers. The lifestyle o f people is change that they will more enjoy the online social with others. The online social is one part of daily life of many citizens. Internet is very important for citizen to keep connect with others online. The relative products were useful for them to keep online, such as Net-book, Smartphone. The spending custom of customer is change to spending more. They are more emphasized on the quality and function of the product more than price. The purpose of consumer is also change from useful to habit and symbolize of 3C products. The change of IT products is fastest of nowadays environment. The innovation of product and system improvement is very important for 3C products. The successful innovation product can be come a trendy of customer to buy and follow. Customers are easy to substitute the old product by new product in 3C product markets. How to cite Hp Swot Matrix, Papers

Big business and politicians Essay Example For Students

Big business and politicians Essay Instead the opposite is true sharing of information and reporting based on the consensus of journalists from ostensibly rival news companies is in fact the norm. This cooperation often plays a major role from the outset of most journalists careers. Often novice reporters are sent to cover important personalities as their first assignment. Their job as so-called ban journalists is to follow an important political figure all day in order to gain snippets of news. Such close proximity unavoidably leads to a close relationship between journalist and politician. Reporters are often invited into politicians houses and are expressly told by their employers to foster close ties with the politician and his family, and should strive to become close friends. Ban journalists do not however follow their assigned politician around alone as all major news organisations dispatch ban journalists, the daily ritual is performed within a group. Reporters often spend several years on such assignments which gives rise to two dilemmas that affect the journalists ability to report freely. The first relates to the close relationship of correspondents to the politicians they are covering. One of the inherent problems of the media in a democratic state, especially if the media is supposed to take on the role of the Fourth Estate, that of a watchdog over the political establishment, is that in order to be able to report on and gain news about politicians it must conduct affairs und build trusting relationships with exactly the people it is trying to monitor. Ban journalists exemplify this quandary. Compared to western journalistic standards, the close relationships they form with politicians have allowed them in the past to gain unprecedented access to the inner sanctums of government and have in some instances resulted in information that if published would have amounted to a scandal. This is however the disadvantage of having such close ties with the politician one ought to be critically reporting on; the fact that journalists cultivate such friendly relationships means that it becomes harder for them to write negative stories. This raises concerns of morality and journalistic responsibility that are relevant in other situations. Kisha clubs are not simply institutions in which press conferences are held and briefings handed out; as is the case with ban journalists, most reporters who are members of a kisha club spend more time in their club surrounded by journalists from rival publications than they do at their own news company. This has led to the second problem that affects the press ability to function independently. The disproportionately high amount of time that is spent with rival journalists in the club often results in reporters identifying more with their club and fellow (rival) club members than with their colleagues. Strong ties amongst club journalists are increased by the large number of social events organised by the club. Depending on what organisation the club is attached to, journalists will be invited to banquets, golf games or may for example have to accompany a politician on a tour where reporters are frequently housed in expensive hotels. The costs for these social events are mostly covered by the organisation the kisha club is attached to. The atmosphere organisations and companies strive to create is one in which journalists will become indebted to whomever they are covering; if in doubt they would rather simply ignore issues that would usually be investigated further if reporters were fully independent. In some instances reporters have received free train passes, wine or other gifts from the organisations they are covering in one case journalists were sent home with envelopes that later turned out to contain i .u6c4a6a7ba118a3376aca4527eced8697 , .u6c4a6a7ba118a3376aca4527eced8697 .postImageUrl , .u6c4a6a7ba118a3376aca4527eced8697 .centered-text-area { min-height: 80px; position: relative; } .u6c4a6a7ba118a3376aca4527eced8697 , .u6c4a6a7ba118a3376aca4527eced8697:hover , .u6c4a6a7ba118a3376aca4527eced8697:visited , .u6c4a6a7ba118a3376aca4527eced8697:active { border:0!important; } .u6c4a6a7ba118a3376aca4527eced8697 .clearfix:after { content: ""; display: table; clear: both; } .u6c4a6a7ba118a3376aca4527eced8697 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u6c4a6a7ba118a3376aca4527eced8697:active , .u6c4a6a7ba118a3376aca4527eced8697:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u6c4a6a7ba118a3376aca4527eced8697 .centered-text-area { width: 100%; position: relative ; } .u6c4a6a7ba118a3376aca4527eced8697 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u6c4a6a7ba118a3376aca4527eced8697 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u6c4a6a7ba118a3376aca4527eced8697 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u6c4a6a7ba118a3376aca4527eced8697:hover .ctaButton { background-color: #34495E!important; } .u6c4a6a7ba118a3376aca4527eced8697 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u6c4a6a7ba118a3376aca4527eced8697 .u6c4a6a7ba118a3376aca4527eced8697-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u6c4a6a7ba118a3376aca4527eced8697:after { content: ""; display: block; clear: both; } READ: Clamence Is Not Alone Essay20,000 (Freeman, 2000:81). What is unique to the Japanese system of clubs is what action is taken and, more importantly by whom, when a journalist oversteps his mark and breaks one of the rules of the club. Although there is a written charter that sets out regulations that members must adhere to, in almost all cases they do not pertain to specific actions or boundaries members should not violate but instead state simply that journalists that harm the honour of the club through their actions should face punishment. This clause, that requires a considerable amount of interpretation before it can be implemented, highlights one of the other peculiarities of the kisha club system the manner in which sanctions on club members are passed. The accepted norm in western systems is that the source, in other words the politician or government agency, becomes active and punishes the journalist by barring him from press conferences for example. This admittedly happens rarely, especially not in the US where the constitutional right to a free press is a much championed cause. The Westminster Lobby which is often equated to the kisha club system also includes provisions for parliament to expel journalists, although it has never done so in its 117 year history. The fundamental difference between the practices governing sanctions is that in Japan it is rarely the source that decides whether or not a member should be punished, but instead the journalists amongst themselves.

Bse, Nse and Sebi free essay sample

Equity brokerage industry in India is experiencing rapid growth and diversity. Following the wide range of stock market reforms in the early 2000’s, brokerage industry underwent major transformations from being engaged in only brokerage business to offering a wide range of financial services. A modern broking house in India may well be a corporate entity that offers a wide range of products, relies on research for advice, uses modern technology, has large distribution network connecting the country, provides investor education and awareness and is compliance focused. These developments have resulted in a huge spurt in business as also growing market share of the large sized brokerage houses that led to surge in enterprise value, thus becoming objects of interest for global investing. With the stock market momentum likely to continue, broking firms could look forward to scaling up their resource mobilization to fund growing operations and expansion. Brokerages mopping up huge resources from the market are not unusual even in the emerging markets. We will write a custom essay sample on Bse, Nse and Sebi or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page | Â  | | | | | Indian broking houses could look forward to a period of growth and consolidation. India’s economic growth and deepening of the financial system will present the broking firms with numerous opportunities for growth and expansion. Integration of the financial markets will enhance the scope of their business and scalability. Access to public equity markets will enable them to raise resources to fund expansion and growths as also pursue useful business acquisitions. Growing international investor interest in India will add newer opportunities to scale up the business as also harmonsing with global standard and practices. Introduction of new products such as mini contracts in the derivatives and other futures and options products will add new opportunities for creating new business segments. | Â  | While opportunities abound, there is a great need for reform and restructuring of the equity broking industry. There are about 9,000 brokers registered with SEBI but 80 percent of the turnover in NSE and BSE is accounted for by about 100 brokers. Consolidation thus becomes relevant to forge a stronger industry. Similarly, capital levels too need to be strengthened. The 45 odd listed broking firms in India together have a meager Rs 3. bn of capital, which is far less than what one top broking firm in China could raise from the capital markets. Better performance and practices will enable broking firms to increase capital levels that will be essential for funding expansion. | Â  | Skill sets and compliance norms are the key to the sustainable growth of the industry. The Securities and Exchange Board of Indi a promoted National Institute of Securities Management, which is mandated to launch extensive certifications and examinations to the broking industry professionals to equip them with required skill sets and expertise. It becomes important for the broking industry to actively support such national endeavors that would enhance the quality of the markets. | Â  | Investor education and awareness is another aspect broking industry should promote in the long term interest of the market. As the product mix and risk matrix in financial markets is continuously changing, it becomes imperative for the intermediaries to educate and create awareness in the clients that would be mutually beneficial. Better understanding of the financial products and associated risks by the investors will be in the interest of the growth and stability of the markets. Â  | The Indian broking industry is coming of age. It has enormous opportunities for growth and diversity. As markets expand and get globalised, these firms will have increased opportunity to cater to a large and diverse range of clientele with a wide mix of products and services. Expanding markets offer enhanced opportunities. Those who are well prepared will be in a better position to garner the benefits. | Â  | BOMBAY STOCK EXCHANGE A Share market/stock markets is an open market for fiscal operations such as trading of a firms share and derivatives at a fixed cost. These securities are further listed on a stock exchange. A Share market does not offer any corporeal service and is not a separately owned business entity. | It was in 1875 that the Indian Share Market first started functioning. The first share trading association in India was known as the Native Share and Stock Brokers Association, only to become the Bombay Stock Exchange (BSE) later on. This trading association started off its operations with around 318 members. Main components of Indian Share Market Bombay Stock Exchange (BSE) Bombay Stock Exchange is known to be the oldest stock exchange in the entire Asian region. If someone wants to know about the history of the India share market, it becomes synonymous with the history of the Bombay Stock Exchange. It started functioning in 1875 with the name The Native Share and Stock Brokers Association. Under the Securities Contracts (Regulation) Act, 1956, the association got its recognition as a stock exchange in 1956. When it started, it was just an association of persons but with the recognition it got transferred to a corporate and demutualised entity. * Trading items in Bombay Stock Exchange * Equity or Shares Derivatives (Futures and Options) * Debt Instruments | The main index of BSE is known as the BSE SENSEX or simply SENSEX (Sensitivity Index). It is an index which comprises of 30 financially sound company scrips, with an option to be reviewed and modified from time-to-time. The index calculation is based on the Free-float Market Capitalization methodology. Leading bourses like the Dow-Jones also follow this methodology. Currently the Sensex i s hovering around the 17,000 mark, all expected to touch 20K by 2010. But then volatility has its important role to spoil the entire game. NATIONAL STOCK EXCHANGE (NSE) National Stock Exchange (NSE) is considered to be the leader in the stock exchange scenario in terms of the total volume traded. The market capitalization the National Stock Exchange touched about $921. 31 billion at the end of May 2009. The National Stock Exchange received the recognition of a stock exchange in July 1993 under Securities Contracts (Regulation) Act, 1956. The products that are traded in the National Stock Exchange are:- * Equity or Share * Futures (both index and stock) * Options (Call and Put) * Wholesale Debt Market Retail Debt Market NSE has a fully automated screen based trading system which is known as the NEAT system. The transactions are carried on with speed, efficiency, and are all transparent. The risk management system of the National Stock Exchange is world class and can be considered as the benchmark for other bourses. The leading index of NSE is known as Nifty 50 or just Nifty. It comprises of 50 diversified benchmark India n company scrip and is constructed on the basis of weighted average market capitalization method .Regulatory Authority of Indian Share Market SEBI or Securities and Exchange Board of India is the market watchdog and has the responsibility of protecting the investors interests, develops regulatory norms and helps in the development of the securities market in India. SEBI is the regulator for the securities market in India. It was formed officially by the Government of India in 1992 with SEBI Act 1992 being passed by the Indian Parliament. Chaired by C B Bhave, SEBI is headquartered in the popular business district of Bandra-Kurla complex in Mumbai, and has Northern, Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmadabad. EMERGING TRENDS OF EQUITY MARKET ONLINE TRADING The advent of online securities trading has raised doubts about the survival of market making and brokerage industry. However despite the decrease in spreads, the trading values have been improved with global boom in securities trading. There is yet another view that touts that technology would actually save the business . the firms, gain considerable profits. Technology is revolutionizing all the aspects of trading from back-office clearing and settlement to front order trading and also gives a better understanding of their customer base. The economies of scale present in the industry require very large volumes to break even. With cross border trading gaining popularity, only a few players who can reap the economies of scale will be winners in the global trading industry. Online trading has transformed the way trading takes place in India. With a number of websites offering loads of information and financial data on score of companies, the stock trading has become very easy. The commission per transaction is lesser than the traditional form of trading. Spotting the likely change in investors’ preferences and the potential in the business, many stock broking companies have started their own trading sites and established links with banks. BSE: THE STRUGGLE FOR SURVIVAL some serious scams have brought serious reforms, like rolling settlement, ban of badla, etc, in the indian capital market. the biggest impact of recent developments is more on the 125-year old bombay stock exchange. with the lack of interest among retail investors in trading. * growth with badla * speedy recovery * dawn of new era * head on with nse * advantage at nse

Essay Service

Essay Service Essay Service Essay Service If you are looking for some extra help online to give your writing skills a boost in the form of an essay service - then here is what you should be on the look out for. Make sure that you have accessed a premier academic writing service that offers the finest essay service for coursework and other written assignments.You need to zero in on a credible site that ensures that their essay service guarantees 100% original and well-researched papers. Essay Service Checklist Before entrusting your essay to just any site online-you need to check on their credentials. Ask yourself: Does the essay service meet the required standards of academic writing by checking on their track record? Does the essay service consists of a dedicated team of capable academic writers? How many years of experience do they have to back up their essay service? What do past customers feel about the essay service you are planning to tap? Will the essay service tailor your essay to your exact specifications-including the reading sources, the length as well as the required format? Are they backed by experience in different kinds of essays at the Bachelor, Masters and PhD levels? Glance at the Company's Features Does the essay service consist of a competent team of dedicated professionals that can write your essay from scratch? Do they have a track record for academic excellence? How has their reach expanded over the years? Are their writers qualified with a Masters or PHD under their belt or do they use the services of college students trying to make some extra pocket money? Can the essay service offer you essays that are written in fluent English with zero errors and proper grammar? How are their formatting skills? Are they equally adept at papers in MLA, APA, Chicago and other required formats? Further Points to Crosscheck On Can they teach you the ropes of creative writing and how to develop an argument to write winning essays? Is there a proper linkage between cause with effect? In other words does the essay have a logical flow? Are they equally adept at essays in the arts as well as the sciences? Are they punctual? You could just land yourself in a soup if you do not ensure that you are tapping in to the services of credible essay services to make sure you do your homework before entrusting an essay service with your assignment: Read also: Writing Editing Paper Editing Tips Help Editing Essay Editing Essay Company

Construction Legislation Essay Example | Topics and Well Written Essays - 2250 words

Construction Legislation - Essay Example The firm is also responsible for drawing up contracts bids. The company should also draws tender documents in relation to construction and development of this project. Part one 1.1 Consultancy Legal Documentation This part involves presenting all the legal documents necessary in project management. This will protect the project manager or the consultancy firm that is the playing the role of project management. The first document is a contract document between the company offering project management and the client. This is a show of evidence that these parties are in a contractual agreement to work together. They will protect the project manager or the firm when the client fails to meet the firm’s requirement in the course of the project. Another important document is the budget. This ensures that the project is within the set limits. This document empowers the project manager to know when to add funds or reduce them in any phase of the project. The budget provides the project manager with knowledge about every phase of the project. This helps the project manager to know the amount to be spent in a given phase of the project. It also notifies him or her, the room available for adjustments. The budget also helps the project manager to know the amount of time to spend in a given task so as to ensure the project completes before the given threshold (Ritz, 1994). Another important document to protect project management firm is the bid documents. The bid process should be competitive this is evidence that the firm advertised and carried out the bidding process in a competitive and a fair manner. This will protect and promote the company’s reputation towards the public and other stakeholders in the construction industry. This shows the client the company is of high integrity and is open in its dealings. This will protect the firm against any company or individual who challenges the bidding process of the project. Certificate of registration is another do cument that the consultancy firm can use to protect itself. The certification is a clear demonstration that the company is approved by the necessary departments to carry out activities such project management amongst other. This will avoid problems with local authorities. The certification also shows the company’s experience in handling such matters. The project manager should also be in possession of contract documents between the client and subcontractors. This will help the project manager to know the position to take in making crucial decisions that affect the project. It will also help him to advice the client in a situation when the sub contractors do not deliver the desired results as the contract agreements. They should also possess the insurance certificates. This is to ensure that the main contractor and other sub contractors insure their workers. This will help to solve cases of injury and medical bills. The project manager should ensure the client has insured the whole construction process to avoid delaying of the project (Kerzner, 2009). 1.2 Procurement options This part presents the methods of use during the construction of the project. The option depends on the dimension, nature and complication of the project. The first procurement option is the traditional or construct only. The method entails that both design and construction be procured separately to different companies. This is done as per the project specifications. The services are outsourced. The advantages that come with this

Forces of Globalization Essay Example | Topics and Well Written Essays - 750 words

Forces of Globalization - Essay Example One such force is the dependency of some nations on others, as a result of the increased inequality between such countries. It is clear that some of the countries have developed to world economic powers as a result of their expertise, resources, and technology. On the other hand, most of the countries around the globe are still underdeveloped, with lack of proper technologies and expertise to exploit their resources. From the past, the relationship between these developed and underdeveloped countries has remained one of dependence, with the latter depending on the former for economic and political. In his book, Wright suggested that the Niumi people were dependent on the British during the colonial times and at a point, they remained without basic resources such as healthcare facilities, until they were built by the British. Such is still the case in the current world as the gap between the developed and developing countries has continuously increased, forcing the developing countrie s to develop in the developed countries for financial and humanitarian aid. International politics has also been an interestingly significant determinant of international interactions. Nations from various parts of the world have different political ambitions, some of which are taken into the international environment, leading to either formation of political alliances or conflict. Defined by different political boundaries, different nations are faced with the mandate to protect the interests and sovereignty of their people.

Compare themes and make connections in 3 stories Essay

Compare themes and make connections in 3 stories - Essay Example In Updike’s story, Sammy is an immature and romantic daredevil who can recklessly decides to quit his job in order to draw the attention of Quinee the leader of the girls in weird dress. Again though Steinbeck’s protagonist Elisa Allen is intelligent, enthusiastic and business-minded, she shows the signs of immature perception of the world through her romantic fascination for a hobo life. In a similar manner, Alice’s protagonist Dee’s self contradictory immaturity lies in the fact that though she shows significant awareness of her community culture and heritage, the way how she wants to preserve it will ultimately eradicate it. Therefore, it can be assumed that though all of the protagonists apparently seem to brilliant, smart and intelligent, they are romantically immature. In Updike’s story, because of his sarcastic remarks for the coworkers and his masterful narration, Sammy seems to be quite smart and intelligent. The ways how he behaves with th e girls and how he reacts to the manager’s pragmatic advice to them necessarily reveal that he is romantically immature. Being a teenager, Sammy can do anything to attract the girls in bikinis who come to his store. Indeed, a romantic and heroic attitude towards the opposite sex drives his behavior. When in response to the manager’s warning, Quinee says that her mother asks her â€Å"to pick up a jar of herring snacks† (Updike), Sammy can easily â€Å"slid right down her voice into her living room† (Updike). He conjures up an imaginary aristocratic world wheret her parents and others in â€Å"ice-cream coats and bow ties† are â€Å"picking up herring snacks on toothpicks off a big plate† and drinking the â€Å"color of water with olives and sprigs of mint in them† (Updike). Sammy’s rich and figurative narration necessarily shows that he is quite intelligent. But it also reveals that he is hungry for such luxury. But Sammy canno t perceive the stern reality which lies beneath this luxurious facade of life. As a result, He, hungry for this luxurious life, loudly declares to quit his job in protest against the manager’s decision. So he hopes that Quinee will notice his heroism. But in contradiction to his expectations, they do not stop and â€Å"watch†¦.their unsuspected hero† (Updike). His limited experience fails him to perceive the reality that lies beyond romantic appearance of the world. Like Sammy’s hollow smartness, Dee Johnson seems to be quite smart. She has changed her name to â€Å"Wangaro† in order to protest against the culture and people who once oppressed her ancestors, as she says, â€Å"I couldn't bear it any longer, being named after the people who oppress me.† (Walker) Obviously, it is a wise decision on her part. It shows that she is aware of her ‘self’ and of her culture. Indeed, Mama also pursues the same of having a respectable identi ty in the white dominated which once has enslaved her ancestors mercilessly. She dreams of talking with the white man looking in his eye. This dream of Mama to look in the eye of a white man necessarily propounds that she is also aware of her African American cultural identity, as she says, â€Å"Who can even imagine me looking a strange white man in the eye?† (Walker) Even though both Mama’s and Dee’s goals are same, Dee vehemently opposes Mama. The way she wants to keep her cultural identity will eradicate the culture itself in the long run. She does not want to use the quilts in her

A Political Economic Social Technology Analysis Of Malaysia Tourism Essay

A Political Economic Social Technology Analysis Of Malaysia Tourism Essay 0.0 Introduction Nowadays international business is a vital aim for every firm despite small firm or large firm and they are moving toward to international business for the sake of foreseeable future of their business. Besides, international business is known to be business dealings crossing national borders at any stage of the transaction which included trading such as import and export activities that carry out by the small and large firm from domestic to international market across the world (King, 2008; Aneff, 2010). Moreover, at present, international business can be acknowledged as global business whereby the firms have to adapt their businesses to the outside world in different markets that the firms seek and approach to and deal with many different cultures that concern in every country (Nakate, 2010; King, 2008). With the changing liberalization strategy in the whole world, a lot of firms are gaining benefits from international trade and investments. On top of that, an agreement of GATT (Gen eral Agreement on Tariffs and Trade) was introduced to get control over the rate charges of the tariff and trade barriers (Geneva, 1986). In contrast, after the formation of GATT, in year 1995 followed by the formation of the World Trade Organization (WTO). Besides, there are 2 important forces that drive a business to international business which are the technological development and the disappearance of a substantial part of the communist world (Lausanne, n.d.). Shangri-la Asia Limited is a company with the principle activity of investment holding which focusing on the business and operation of hotels as one with associated real estate properties with providing hotel management or related services (Bloomberg, 2009; Shangri-La Asia Limited, 2009). The company mainly focuses in operating hotels and leasing spaces for commercial and residential. Shangri-la was incorporated in Bermuda and its main headquarters is located in Quarry Bay, Hong Kong. Furthermore, Shangri-la Asia Limited was founded in year 1971 and until now, Shangri-la has been in operating in the industry for 39 years and operates its hotels in the company of Shangri-La, Rasa, Trader, Summer Palace, and Shang Palace. Moreover, the group managed 65 hotels at the end of 2009 with 47 hotels invested as the equity which managed by its subsidiaries. Besides, as of year 2009, Shangri-La hotel employs approximately 260,000 employees in the Asia countries (Shangri-La Hotels and Resorts, 2 010). 1.0 Macro Environment 1.1 Political Environment In China, the government attaches great importance to the tertiary industry in their country and there was positive government policies advance tourism in order to build tertiary industry to be one of their pillar industries (Lew, Yu, Ap, Zhang, 2003). Besides, the hotel and tourism industry in China had rapidity raise after the entry of World Trade Organization (WTO) to the domestic market in China. As according to the announcement from China National Tourism Administration (CNTA), with the entry of WTO in China, it brings the foreign international hotel industry to invest and set up hotel in China and the government of China approved the application of setting up wholly foreign-owned travel agencies in China thus, demand for hotel industry boosted up (Xinhua, 2004). Moreover, base on the Chinese governments policy of long term goal, the inbound tourist arrivals to China will achieve 210 million by the year of 2020 in which this would benefit the hotel and tourism industry in China to gain more profit on the tourist visit. For instance, base on the information published by the Shanghai Tourism Commission (STC) in China, the entry of foreign travel companies would help to stimulate and rise of the business of the local tourism industry in the case of SARS that happened seriously in China in 2003 (China Daily, 2004). On the other hand, the political issue would be on political tension between Taiwan and Mainland China and these threats would be considered as the unforeseen event that the hotel developer and investor will take into account (Guo, et.al., 2004). 1.2 Economical Environment In 1992, China expanded its economic reform along with the open door policy, consequently bring benefits to the business activities and international tourist arrivals to China continued to increase and thus hotel investment is stimulated. In contrary, China government also ensured that overseas hotel do not dominate the market in which the action taken is to prevent the rise of competitiveness between local companies and foreign companies in the benefit of their professionalism, experience and resource advantages. Thus, to avoid economic leakage, Chinese government had implemented the policy of encouraging Chinese Hotels to establish in the country itself and also in foreign countries for Chinese to use with the association between Chinese Airlines and Hotels industry in order to retain the money from outflow to other countries (Zhang, Pine and Lam, 2005). Moreover, Chinas sound economic growth stimulates the Hotel and tourism industry. As mentioned above about the openness to outsid e world had helped economy grow rapidly. The GDP of China in 2009 was RMB 33, 535.3 billion where RMB 14, 291.8 billion contributed by the tertiary industries with the growth rate of 8.9 compares with the previous year (Chinability, 2009). An impressive economy growth will generate enhancement in infrastructure for hotel development, however, the sustainability of the economic boom are concern in the problem of bad-loan that commonly faced by state-owned banks. To overcome this problem, government needs to counter a soft landing for the rapid growing economy otherwise an unexpected of potential economic slowdown would occur and certainly bring some negative effects to the hotel industries in the country (Yu and Gu, 2005). 1.3 Social Environment Social environment concern is an important issue for the business developer and investor in China as Chinese used to practice the relationship and network of Guan Xi in their daily life which including during the business dealing process. In fact, Guan xi can be an influential practice compare with the Western-based business practice which westerners or foreign investors are not eligible to gain interest on this practice as such practice would be commonly focus on the motive of profit. Thus, foreign companies need to corporate with the local Chinese companies as partner in order to enjoy the privilege with the support of Chinese partner to avoid some existing and future legal control and international trade rules. For instance, the foreign owner of the properties must depend on the local labor and partner in turn to get the reliable power supply and water supply (Zhang, Pine and Lam, 2005). On the other hand, hotel industries benefit from holiday and vacation when residents take holi days and this would lead to higher demand on the tourism and hotel industry in which the people shifting their lifestyle and get off from work with take effect on the domestic consumption. For example, in China, the government had intentionally increased the public holidays where made 3 weeks long holiday per year such as each during the Spring Festival, May Day Festival and the National Day holiday (Lew, Yu, Ap and Zhang, 2003). 1.4 Technology Environmental Generally, a good quality service to customer is the most important factor that makes the hotel to be more outstanding than others and to get more attraction from customer therefore this would influence the guests to make decision on the selection of which hotel is the most worthy and preferable to consume with the most satisfaction among those entire hotels that available in the area. Besides, with the acknowledgement of gaining better profit margins and financial returns, the hotel industries in China emphasis on the implementation of IT facilities in order to improve with efficiency daily operation and meanwhile to obtain benefits such as operational cost reduction and enhancement of service quality deliver to customer (Law, Giri and Michigan, 2005). In fact, in Hong Kong, China, the use of IT to conduct daily operation is generally practicing by the hotel industries in country since year 1997 (Law and Au, 1998). Besides, in China, the adoption of Computer Reservation System (CRS) and hotel Property Management System (PMS) which utilize by hotel that ranked 3 stars and above was introduced to bring the companies into the market and to improve the interconnectivity by promoting about destination, information about their company and additionally assist on the efficiency and accuracy of internal information transmission and effectiveness of management. Meanwhile, the use of Information Communication Technology (ICT) within the hotel industries in China which focused on the front office functions such as reception, reservation, catering, marketing, customer relationship management and others had brought benefit to the operation of the industry (Ma, Buhalis and Song, 2003). 2.0 The International Consideration 2.1 Operation Shangri-La Hotel and Resort operated almost in all over the place in the world where headquarter is in Hong Kong. Shangri-La Hotel and Resort is a well known brand which the brand name is so recognizable and respected by the people around the world. Besides, the groups main activities are emphasis on the ownership, operation and management of the hotels. At present, the group holds and operates 68 hotels under the trademark of Shangri-La, Trader brands, Rasa, Summer Palace, and Shang Palace in different countries with a room inventory of over 30, 000 in which operation carry out among Asia in current year which included of China, Japan, Malaysia, Hong Kong, India, Indonesia, Thailand, Taiwan, Republic of Maldives, Philippines and Myanmar. Furthermore, the company had expanded their company to Middle East countries such as Sultanate of Oman and United Arab Emirates; Europe country in France; North America country in Canada; Oceana countries in Austria and Fuji Island. In addition, in year ended 2009 the company had equity interests in 49 operating hotels containing 24,432 of guest rooms (Golden Circle, 2010) Moreover, the company will develop and build up 29 more hotels in various countries in which project development of 1 hotel in Paris in 2010, 11 hotels will be establish in China, India, Singapore, Macau, Qatar, Austria in 2011, 9 hotels in China, India, Mongolia, United Kingdom, Turkey and Canada in 2012 and nevertheless 7 hotels in China and Russia in 2013 and 1 hotel in Philippine in 2014 (Shangri-La Hotels and Resorts, 2010) 2.2 The PEST in Malaysia 2.2.1 Social and Culture Environmental Commonly, Malaysia is known as an Islamic country therefore certainly Malaysia is involving in the Halal food industry and Malaysia is the major exporter of halal product to Organization of Islamic Conference (OIC) countries such as AEAN and Middle Eastern markets in 2008. Malaysia has made an integrated long term plan to develop the halal industry which including the goods and services related sectors namely, meat and meat-based product, processed food, cosmetic and personal care products and pharmaceutical products (Sadek, 2010). Thus, the halal certification would be the main requirement for the tertiary industries in Malaysia that needed conforming to it especially on the food and beverage which play an important role in overall satisfaction level such as halal dining is a necessity for Muslims. In fact, according to Department of Islamic Development Malaysia (JAKIM), the statistic shows that out of 991 hotels in Malaysia, there are only 10.19% of the hotels which amount to 101 h otels that certified with Halal logo (Zailani, Fernando and Mohamed, 2010). Besides, to set up businesses in Malaysia require some general needs of its local market segment included religious and cultural practices such as to being halal conscious through implementation of crescent rating which this system is require under the traditional Muslim rules to the examine the halal friendliness of facilities and services in hotel industries in Muslim country (Fazal, 2009) For instance, Awana Spa Island Resort in Langkawi crescent rated at category 5 which indicate that the hotel accommodate some specific Muslim needs and Shangri-Las Rasa Sayang Resort Spa in Penang rated at category 3 (Crescent Rating, 2010). Moreover, regarding the culture in Malaysia, the main facilities of prayer room or Surau is important for Muslims as they required praying 5 times daily due to the ease of travel from current location to mosque. Besides, the culture in the aspect of employee working hour, there are slightly different if compare with oversea working time as for Muslims every Friday afternoon is the weekly prayer time thus Muslim employee need to leave their work place at this time (Usama, 2007). Moreover, festival holiday is a main issue that need to concern in Malaysia as Malaysia has much festival to celebrate such as Hari Raya Aidilfitri, Chinese New Year and others therefore public holiday would interrupt the operation performance of the company where by employee off from work on the particular day. (Zailani, Omoar and Kopong, 2010) 2.2.2 Political and Legal Environment in Malaysia According to the A.M. Best country risk report, Malaysia has a moderate level of political risk which categorized as CRT-3 which indicate that Malaysia is a developing country that having a developing legal environment, legal system and business environment (A.M. Best, 2010). Generally, political risk comprises the stability of the government and society in a country and here the political environment would be first concentrate on the change of government and key leader in Malaysia. Up to date in 2010 political position in Malaysia involves two separate downside risks which happened 2 years back in 2008; the political power was changed due to the general election and the result was the National Front which had ruled Malaysia for 52 years had lose control and defeated by opposition (Marshall, 2009; Stamer, 2010). Then again, according to the executive summary by Political Economic Risk Consultancy, the political issue that foreign investors concern is about the hesitation on how good the opposition parties perform after they gained the political authority as a Malaysia government in handling some problem such as poor policies and others. Additionally, as a result of some political accusation, the case of Anwar on sodomy gave a flashpoint on the political stability condition. Due to the changes in the government authority, the political stability in Malaysia is affected much over these years and would bring further damage to investment in the country if the trend maintains (Marshall, 2009; Political Economic Risk Consultancy, 2010). 2.3 Internationalization Method The internationalization process is a very important process for a company that plan to expand their business outside their domestic base market by adopting several internationalization methods. In Shangri-La, the internationalization method that the group adopting is more on equity based method on foreign direct investment. The Group is using its equity assets in the expansion of their company throughout the world and for another purpose of project development in new countries. Moreover, investment into a company is the competitive advantage of this company. Additionally, the Group is adopting 2 main internalization methods on its subsidiaries which through merger, acquisition and alliances. According to the financial report of Shangri-La in Malaysia, the subsidiaries are consolidated by using the purchase method of accounting in which the Group has the ability to exercise the power in the subsidiaries in order to manage the financial and operating policies of an entity as to attain benefits from their daily activities (Shangri-La Hotels and Resorts, 2010). Alternatively, some subsidiaries are consolidating by adopting merger method for example, UBN holding Sdn Bhd which happened on 1st of January 2006. As for the associate methodology, the Group has major influence but not control over the financial and operating policies. The hotel properties located in Malaysia at 31 December 2009 included Rasa Sayang Resort Spa, Traders Hotel, Golden Sands Resort, Palm Beach Resort in Penang, Shangri-La Hotel in Kuala Lumpur and Rasa Ria Resort in Sabah. (Shangri-La Malaysia, 2008) 2.4 Problem and Solution The problem that the company confronts would be on the aspect of the culture differences between the origin country and the other country for example Malaysia. Cultural differences of international hotel groups would influence the operation of the company and also the efficiency of their human resource in the company. Besides, condition of cultural differences dilemma would also harm the company from gaining better return in either investment nor operating profit which due to the competition among the hotel industries in the specific country. Thus, to overcome these cultural dilemmas, some solution on these problems needed to be implementing in order to resolve the problem to prevent any operation failure. The solution proposed would be through adoption of cross cultural strategies. According to Master and Prideaux, culture can be distinguished into 2 views that represent an ideological perspective including beliefs, norm, value and customs. Next, would represent the material element which including of the dining etiquette, where to buy and where to travel. (Prideaux, Moscardo and Laws, 2006) As mentioned above, the main cultural problems that face in Malaysia is about the Halal certification and also the employee culture problem. Therefore, from the cross cultural management approaches, it must emphasis on the staff inspiration and motivation method and improvement on product and service quality in order to satisfy customers demands. Firstly, company should implement the strategy of cross cultural empathy through training and education that enables the staffs in the group from origin country to let them to be more considerate to accept other people cultures in Malaysia as well as the staffs in the company itself. This would help to solve any conflict rises conc erning to the culture misunderstanding among three major races employees of Malaysian and between the headquarter staffs rather than behave stubbornly on their own local culture perspective. Besides, in order to solve the cultural diversity problem in the case of halal certification, the company needs to employ the strategy of cross cultural through special design and marketing of hotel products and services. There are a lot of customers come from different religions and backgrounds, thus customers have different needs on the services and products. By using this strategy, the company is able to improve the degree of customers satisfaction whereby the products and services is specially designed for the purpose of tailor-made to adapt to different need of the customers. For instance, Muslims in Malaysia require some halal facilities and also on the foodstuff, as a result the hotel must pay close attention on serving the proper food at the table and also the facilities of prayer room in their hotel to allow Muslim to conduct prayer during the time that they are in the hotel area. 3.0 The Growth of Business Shangri-la has a well operational performance which its operations contribute the main source of revenue and operating profit for the Group. Besides, the concentration of the growth in the luxury hotel market in Asia would particularly focus on China. Thus, the group is continued to plan out the strategies of setting up new hotel across the world. According to the financial report in 2009, a total of 7 hotels opened for business during the year and 4 hotel being subsidiaries of the group. During these years, Shangri la is adopting the market development strategies which the group is targeting new markets or new areas in different countries. For example, in 2011, the group will conduct foreign direct investment of 29 hotels in other countries such Qatar, Austria and others. Besides, the implementation of product development strategy in the group develops their services and quality to gain higher level satisfaction from customers through training of employees to deliver better services to customer. For instance, the networking of the Shangri-la throughout the international subsidiaries had improved through communication and result in the integration with its international counterparts by applying uniform standards for inbound and outbound logistics and this give rise to higher level of efficiency in the operation, sales and marketing. Consequently, Shangri-La had gained positive reviews and reputation from regulatory bodies and this benefit the company to connect into all revenue-generating marketing channels (Shangri-La Asia Limited, 2009; Chitika 2009). As for the future direction of growth, according to Ansoffs Product-Market Matrix, the product development strategy should highlight in the company. The reason is that it is important to have possession of distinctive advantage over its competitor by reason of keen competition existed among the local and other international hotel industries in the market. Besides, hotel industry is leisure and tourism destination places, customers are the main earnings sources from the hotel operations, it seem to be not enough to have similar existing facilities promoted in the hotel to attract customers. Thus, an innovation technique is required to improve the product and services in the hotel in order to maintain an advantage over competitors meanwhile to attract more customers. By examining through proactive development strategy to develop the product base on the anticipation of the evolution of customers needs; or through the adaption of reactive development strategy whereby the product is devel op in order to deal with the customer needs. Besides, as a result of adapting product development matrix, the company is able to develop and launch new product or services where the products or services are presently not being offered by any other competitors however it able to keep the existing market and nevertheless attract more new customers. For instance, product development strategy including offering high-level service to the customers through providing some specialty facilities such as promotion on the discount offer to their customer base on an alliance with the air companies and provide free shuttle for the customer to take them from airport to the hotel. Thus, Shangri-La hotel must provide services that other competitors do not offer and the most importantly, making the customer feel at home and even better than that. 4.0 New Venture The new venture of Shangri-la hotel would using the foreign direct investment method which the company will expand and build up hotel under equity base method in the chosen country, Kingdom of Heaven, Bhutan. While Shangri-La investing in Bhutan, the group will suggested to conduct joint venture with the local partner such as the tourism agencies to increase the inflow of the tourist to the hotel and other share value-added joint venture, for instance, merge with the local hotel industry where the hotel contribute the same function and this will reduce the competition among the similar industry and nevertheless increase economies of scale. As Shangri-La is moving into the new market and segment, it is necessary to understand what strength determines the profit of their industry. Thus, Porters Five Forces analysis would be taken to identify all the threat in hotel industries in Bhutan. Firstly, the threat of supplier power in the market will take into concern. The supplier power in ho tel industry would be the availability of skill of the employees that provide services to customers due to tertiary industry is totally focused in services. Thus, Shangri-La need to provide a high level of training program to ensure the employees are able to carry out best service to their customers. This is because employees can influence the profitability and the attractiveness of the hotel itself. Besides, supplier power can be the organization that control and provide the food and beverage to the hotel industry in the country. In this case, there are plenty of suppliers in Bhutan which mainly working on supplying of the food for local distribution whereby they import all the food stuff items, such as the company of Dollay Food Product, Sharyang Enterprise, Sonam Choki Enterprise and many others suppliers (Cheaponsale, 2010). So supplier power force is considered weak to the company. Secondly, would be the buyer power. This force reflects the strength of bargaining power from the customers which concerning the level of quality served and price rate of the hotel. Commonly, from the behavior of the customers, customers seek for best quality with lesser price of hotel, solution for this problem would be the hotel management should make some adjustment to its strategies in order to meet the demand of the customers to avoid switching among the hotels in the market, if the switching problem happen then the buyer power is high which will bring disadvantage to the company. Thirdly, competitive rivalry is also a serious force that the company has to concern on it. This force would focus on the number of the competitors in the same industry in Bhutan. In Bhutan, there are hotels that available in the specific geographic areas. For instance, According to The Hotel Association of Bhutan (HAB), Bhutan is divided in 20 administrative districts and there are 121 hotels in the country and exactly with 34 hotels with 3 stars and above are available in the certain districts in Bumthang, Trongsa, Punakha, Thimphu, Wangdue Phodrang and Paro; the rest are ranked as 2 stars and below (Tourism Council of Bhutan, 2010; Cabinet Secretariat, 2010). Thus, competitive rivalry in hotel industry is quite high due to the number of competitors offering in the market and the company should adapt specific strategy to overcome the problem such as create differentiation on the product and services in order to differentiate themselves from the competitors. Due to the problem faced by the competitive rivalry, the threat of substitution which examine on the similar product and services is high in the hotel industry because there are a 121 hotels accessible in the Bhutan and enable the customers to have alternative choices on what hotel that they prefer to select. Thus, better marketing strategy is needed for the company to deal with the substitution problem such as changes in technology and services in the hotel could bring some advantage like good reputation for the hotel to compete with its rivals. Lastly, threat of new entry is high in the hotel industry in Bhutan as Hotel Association of Bhutan (HAB) reported that there 46 new hotels will open up in the country. However, the Bhutan government had approved 100 percent of foreign direct investment to build 5-star hotels and 70percent of foreign direct investment for 4-stars hotels in Bhutan in early 2010 (Dawa, 2010; Dahal, 2009). In this case, Shangri-La has the total advantage of investing and setting up hotel in Bhutan as Shangri-La is ranked as 5-star hotel. Besides, the structural expansion of the hotel in Bhutan would be difficult because most hotels was in debt due to the financial institution had stopped giving loan for hotel construction. This is because of governments policy on the existing hotels that they are required to upgrade their hotels within 2 years time in order to provide better service to customers with the help of government by providing incentives of tax breaks for up to 10 years to make the upgrading pos sible (Cabinet Secretariat, 2010; Dawa, 2010). Hence, with good reputation and its 5-Stars ranked hotel, Shangri-La has gained the advantage to compete with the hotels in Bhutan. Thus, Shangri-La needs to come out with some new plan to sustain its market position. 5.0 Conclusion In summary, various analyses needed to be considered and examined in the progress of business expansion to the international market. Going international not only mean to explore the new market abroad but it also enable the company to have better understanding on the expansion strategies that needed to adopt in turn to deal with the dilemma that occurred in the international market. Besides, international business can promote faster growth in the country economy due to the entry of foreign direct investment in the country which stimulate the domestic competition in the market and in effect would encourage improvement in the service and product of the company, besides it would help the employment rate of the country as well. Moreover, in order to go for international business, the particular companies need to ensure that the correct strategies are adopted. With the assist of PEST in the expansion of macro environment in a market, the company, and here would be Shangri-La can easily gai n the information of the specific market and taking the next step to invest into the market. Besides, by examining the international consideration, it gives clearer picture on what the company doing in the existing market and how the company give solution against the problem that they faced and yet understand how they enter an international market such as foreign direct investment which adopted by Shangri-La hotel into various countries. Other than that, by using the Ansoffs product-market matrix, it enables the company to make good use of the strategies in order to have a better strategic planning in the expansion of the businesses such as to study on the direction of growth of Shangri-La Company. Lastly, with the analysis of Porters Five Forces, it helps the company to understand the strength and the threat of the market when the foreign company planning to invest into the country. By having all these strategies, the company can have the advantage to globalize and to compete again st the competitors that existed in the market in order to offer better products and services nevertheless gain more profit and attract more customers. In conclusion, all these strategies would benefit and success the companies in doing international business.

Blaise Pascal Essay -- Essays Papers

Blaise Pascal "We arrive at truth, not by reason only, but also by the heart"(1) said Blaise Pascal, one of the greatest minds of the 17th Century. The 17th Century was the time of the scientific revolution. During this period the main idea for everyone, was to question everything not to just listen to what is told. This caused a transformation in thought in both religious and scientific areas. Science allowed the questioning of the teachings of the old church. Scientists battled with ideas in math and physics, while philosophers battled with ideas of God. It was an intellectual revolution concerning the methods for determining humanity's place in the universe. Blaise Pascal was a physicist, a mathematician, and a man of God. He was a Renaissance man of the scientific revolution. On June 19, 1623, Pascal was born in the small town of Clermont-Ferrand, France, to Antoinette and Etienne Pascal. When Pascal was just three his mother passed away. After this, Etienne Pascal moved Blaise and his two sisters to Paris, France. Here his son would be able to learn. Etienne Pascal was very concerned about his son becoming an educated man. This is why he decided to teach his son on his own. He brought a young Blaise to lectures and other gatherings. He decided Blaise would not study math until age 15. When he made this decision he took all the math books out of the family home; however, this did not stop a curious Pascal. At age twelve, he started to work on geometry by himself. Blaise’s father finally started to take him to mathematical gatherings at "Academic Parisienne." At the age of 16, Pascal began to play an active role in "Academic Parisienne," as the principal disciple of Girard Desargues, one of the heads of "Academic Par... ... Pascal was such a brilliant man because he could do both of these. Pascal was one of the only men that wrote about his beliefs in God and was an accredited scientist and mathematician too. He was a true man of the scientific revolution. Endnotes: - Pascal, Blaise. 1910. Pascal's Pensà ©es. Translated by W. F. Trotter. New York: The Modern Library, 1941. - Rose, N. Mathematical Maxims and Minims. Raleigh NC: 1988. - Same as 1. - Gillispie, Charles Coulston. Dictionary of scientific biography. New York: Scribner, [1970-1990]. - Auden, W. H. and Kronenberger, Louis. The Viking Book of Aphorisms. New York: Viking Press, 1966. Work Cited Hazelton, Roger. Blaise Pascal The Genius of Thought. Philadelphia: Westminster Press, 1974. Eliot, Charles W. The Harvard Classics (Pascal). New York: P. F. Collier & Son Corporation, 1938. Blaise Pascal Essay -- Essays Papers Blaise Pascal "We arrive at truth, not by reason only, but also by the heart"(1) said Blaise Pascal, one of the greatest minds of the 17th Century. The 17th Century was the time of the scientific revolution. During this period the main idea for everyone, was to question everything not to just listen to what is told. This caused a transformation in thought in both religious and scientific areas. Science allowed the questioning of the teachings of the old church. Scientists battled with ideas in math and physics, while philosophers battled with ideas of God. It was an intellectual revolution concerning the methods for determining humanity's place in the universe. Blaise Pascal was a physicist, a mathematician, and a man of God. He was a Renaissance man of the scientific revolution. On June 19, 1623, Pascal was born in the small town of Clermont-Ferrand, France, to Antoinette and Etienne Pascal. When Pascal was just three his mother passed away. After this, Etienne Pascal moved Blaise and his two sisters to Paris, France. Here his son would be able to learn. Etienne Pascal was very concerned about his son becoming an educated man. This is why he decided to teach his son on his own. He brought a young Blaise to lectures and other gatherings. He decided Blaise would not study math until age 15. When he made this decision he took all the math books out of the family home; however, this did not stop a curious Pascal. At age twelve, he started to work on geometry by himself. Blaise’s father finally started to take him to mathematical gatherings at "Academic Parisienne." At the age of 16, Pascal began to play an active role in "Academic Parisienne," as the principal disciple of Girard Desargues, one of the heads of "Academic Par... ... Pascal was such a brilliant man because he could do both of these. Pascal was one of the only men that wrote about his beliefs in God and was an accredited scientist and mathematician too. He was a true man of the scientific revolution. Endnotes: - Pascal, Blaise. 1910. Pascal's Pensà ©es. Translated by W. F. Trotter. New York: The Modern Library, 1941. - Rose, N. Mathematical Maxims and Minims. Raleigh NC: 1988. - Same as 1. - Gillispie, Charles Coulston. Dictionary of scientific biography. New York: Scribner, [1970-1990]. - Auden, W. H. and Kronenberger, Louis. The Viking Book of Aphorisms. New York: Viking Press, 1966. Work Cited Hazelton, Roger. Blaise Pascal The Genius of Thought. Philadelphia: Westminster Press, 1974. Eliot, Charles W. The Harvard Classics (Pascal). New York: P. F. Collier & Son Corporation, 1938.

Global Business Cultural Analysis

Kenya lies to the east of the African continent and has a coast on the Indian Ocean. The country straddles two of the most famous lakes in Africa – Lake Turkana and Lake Victoria. At its heart is Mount Kenya from which the country takes its name. The Kenyan population is heterogeneous, comprising seven major ethnic groups as well as tens of smaller ones and non-Kenyan communities. There is a religious mix with a Christian majority and Muslim and indigenous religious minorities. Formerly a British colony, Kenya achieved independence in 1963. Understanding the various cultural norms and ethnic and religious groups is essential when doing business in Kenya. Kenyan Culture – Key Concepts and Values Group-relations – Kenyans have strong affiliations to their ethnic group or tribe and sometimes place them in front of the ‘nation’. The family is at the heart of Kenyan life and is given priority over everything else. Several generations will live together in one house with all family members taking care of one another. Absenteeism from work or delays in performing tasks due to family obligations is frequently experienced in Kenya and is viewed as perfectly acceptable. Religion – The majority of the population is Christian (Protestant and Catholic) but there is also a substantial Muslim (Sunni) minority. At the same time Animism and ancestor worship remain widespread. Both Christians and Muslims have managed to incorporate traditional practices into their respective religions creating unique blends to suit their particular needs. Time – In general, Kenyans have a more relaxed approach towards time and live at a slower pace. It is not unusual to wait half an hour for someone to arrive for an appointment and this is seen as perfectly acceptable. Taking care of personal affairs first is regarded as more important than arriving on time. This being said, today particularly in the private sector there is a growing trend of punctuality and observing deadlines. Doing Business in Kenya is the one of Africa’s more affluent nations and is seen a business hub for East Africa. The country’s economy has been hampered though by corruption and a reliance on certain goods whose prices have failed to rise sufficiently. Kenya has also been affected by the global economic downturn and in 2008 saw a 7% drop in its GDP growth from the previous year. Despite this, tourism, manufacturing and investment have predominated in the Kenyan economy over the last four decades giving Kenya a prized position within Africa. Understanding how Kenya’s economy and politics impact its business culture will help you when doing business in Kenya. Kenyan Business Part 1 – Working in Kenya o Working practices in Kenya †¢ Business hours in Kenya are from 9:00am to 4:00pm, with a one hour break for lunch between 1:00pm and 2:00pm. Some businesses also operate on Saturday mornings. Kenyans have a flexible attitude towards time, so don’t be surprised if business meetings or social events begin late. Punctuality tends to be expected when dealing with foreigners though, so make sure to arrive on time. Kenyans do not tend to schedule a precise end to meetings. What matters is not adhering to a schedule but ensuring that everybody involved is satisfied with the outcome. Therefore make sure to leave enough time in your agenda when attending a meeting. English is widely spoken in Kenyan business environments and you can expect your counterparts to have good language skills so you can conduct your business in English. A little knowledge of basic Kiswahili phrases always leaves a good impression and can help to break the ice. Structure and hierarchy in Kenyan companies †¢ Business hierarchies are generally clearly defined, especially in family owned companies. Although employees are welcome to give suggestions and comments, the final decision is taken by senior members or managers. Education and experience are important qualities and main sources of credibility. A personable character can earn extra credit. Foreigners tend to be approached with high regard simply on the basis of their international expertise. Hierarchy plays an important role in the business structure of Kenya. Be mindful of a colleague’s title and their place in the organization. Decision making in Kenyan businesses tends to work on a top-down basis, with objectives set and decisions made by those in the highest positions. Respect and deference to one’s elders should be observed when in Kenya. First business meetings are often quite formal until the relationship is established. Relationships outside of the business environment can help build stronger ties too. The unofficial and informal nature of networking out of the office can help cement a stronger working relationship. This is often done by offering your colleague a drink or meal. Kenya Business Part 2 – Doing Business in Kenya o Business practices in Kenya †¢ Being a polychromic society, Kenyan business practice focuses on getting things done by order of priority rather than working to a set time schedule. In many businesses the working day will halt at specific times for Muslim members of staff to pray. Business attire is formal in Kenya. Men wear suits and ties while women wear long dresses or skirts which reach below the knee. Women do not usually wear trousers although this trend is slowly changing. Women should make sure their shoulders are covered and should not wear anything too revealing. Business cards are often used in Kenya and should be given and received with both hands. Marketing boards are state-controlled or state-sanctioned entities legally granted control over the purchase or sale of agricultural commodities. Since the mid-1980s they have declined in number under pressure from domestic liberalization and from international trade rules that increasingly cover agriculture. Where reforms have been widespread and successful, marketing boards have vanished or retreated to providing public goods, such as strategic grain reserves or insurance against extraordinary price fluctuations i. . the National cereals board, the Tea board of Kenya. Where reforms have been less successful, the weaknesses of private agricultural marketing channels have been revealed by the rollback of marketing boards, often leading to calls for reinstatement of powerful marketing boards. It is often suggested that an exporting country should set up a price stabilization fund to insulate farme rs from fluctuations in the world market price, by collecting a proportion of farmers’ revenue when prices are high and paying it out when prices are low. A typical price stabilization fund is set up for an export crop. In years when the world price is high, some of the returns are paid into the fund; in years when it is low, the accumulated revenues are used to bring up the price. There are many variations on this basic model. Some of the funds soon collapse, while others go on for years, surviving but not necessarily achieving their objectives. The objectives of the fund are usually obscure, sometimes deliberately so. For example, farmers press for stabilization without making it too obvious that to them stabilization means a lower limit to prices rather than an upper limit: in other words, they want a higher average price. Consumers think of price stabilization as imposing minimum prices rather than both maxima and minima. It is often assumed without discussion or evidence that price stabilization benefits the farmer and is beneficial to the economy. To provide price stability, marketing boards set the prices for farmers. During a season of high prices in the world market, they stash funds over and above the set local target, which they later use to cushion farmers whenever the global market prices plummet. The marketing boards possess the sole legal authority to purchase commodities from farmers and to engage in trade. Through the boards, governments typically fix official producer prices for all controlled commodities. Marketing boards provide a guaranteed market for the farmers, absorbing all marketed surplus at the official producer prices, and maintaining extensive buying networks and storage facilities throughout the production regions. Grain marketing boards commonly handle the strategic food reserves for emergency situations, and have the responsibility to import food in shortage seasons. They also stabilize prices, thus protecting farmers from sharp fluctuations. The boards also obtain funds for sales promotion, research and extension services. To raise farmers' bargaining power- especially to prevent over exploitation of farmers by middle men. The boards also improve quality regulation. In the last two decades, the production of primary exports in our country has been dwindling, and in some cases, almost ceased altogether. The crops in question are pyrethrum, sisal, cotton, coffee, and to a lesser extent, tea. The NCPB sells seeds and fertilizers to farmers at subsidized rates and buys their produce at higher prices than the market price, as a way of offering incentives to farmers. To ensure food security, NCPB has silos all over the country that store grains in times of surplus production and sell them in times of food shortages at affordable prices. This helps improve the country’s food supply situation. The Kenya Meat commission which was recently revived, served an important role, during the droughts that ravaged the country, by buying cattle from owners, who would otherwise have suffered a very big loss as the animals would have perished in the drought. Now the farmers can replenish their herds when the drought passes. The Kenya Cooperative creameries is also another marketing board that buys milk from farmers at better prices than go between and hence offering a ready market to milk as a produce in the country. The Coffee board of Kenya and the Kenya Tea Development Authority also buys produce from farmers at good prices, so that farmers are ensured of a market for their produce and can be able to develop themselves from income earned. The boards then sell the produce through exports. This board deals with buying pyrethrum from farmers and finding a market for it. Boards established by the colonialists have, on the whole, been playing a major role in marketing most of these crops, but the majority is inefficient, corrupt, and unable to bring the necessary changes to the agricultural sector to meet the challenges of global competition. Measuring whether the above objectives have been achieved is difficult, since most of these boards offer minimal public information and data important for analysis. In the current global market, private firms, with the intent of maximizing returns, will always hunt for the best world prices. Their staff is likely to be more qualified than the bloated workforce littering our boards. Farmers would be better served by private entities. Since new farmers are always joining a given sector, the system of stabilization is disadvantageous to the old ones. Funds set aside earlier end up cushioning even the newcomers. Since the 1990s, the target prices set by the boards seem to have been out-paced by the rate of inflation. In real terms, it is the farmers who experience negative returns for their products. Most crops in our country come from specific regions where weather conditions are favorable. Centralization of the marketing boards dampens the enthusiasm of farmers. It is in the best interest of the country for income obtained in a certain region to remain there in the hands of farmers, save for the taxes raised by the State. Some senior employees at the head offices, who do not even come from the areas in which the crops are grown, sometimes earn more in a year than do farmers in their whole lives. Our marketing boards are government revenue collectors rather than price stabilizers. Farmers pay more taxes at the hands of these boards, than they would otherwise. The establishment of various agencies in the agricultural sector for various crops is wasteful in terms of overheads and inexperienced staff. The very objectives for which the boards were set up can be handled by the Ministry of Agriculture in collaboration with co-operatives and private marketing enterprises. The subsidies embedded in grains pricing systems, coupled with heavy overhead costs associated with high administrative, transportation and storage costs, soon created huge tax burdens. The pan territorial pricing system meant higher transportation and handling costs in moving commodities from some remote areas, and the management of large volumes of commodities in storage was costly. In addition, the monitoring of private trade was not only costly but generally ineffective, especially for food commodities in shortage seasons. E. g. The National Cereals and Produce Board (NCPB) of Kenya accumulated an estimated loss of about $300 million by 1993, in contrast with central government expenditure on agriculture of $33 million. Marketing boards also face organizational challenges. Their susceptibility to bureaucracy and corruption increased both the inefficiency in their operations and the transactions costs for farmers and consumers. In 2011 Kenya’s economy recorded moderate growth, driven primarily by financial intermediation, tourism, construction and agriculture. Gross Domestic Product (GDP) growth is projected to expand modestly in 2012 and 2013. In 2011 it was held back by an unstable macroeconomic environment characterized by rising inflation, exchange rate depreciation and high energy costs. Limited rainfall in the first half of 2011 resulted in a decline in aggregate food production, a factor that contributed significantly to runaway inflation. The inflationary pressures experienced in 2011 and the depreciation of the Kenyan shilling (KES) can be traced back in part to the Central Bank of Kenya’s decision to cut its repo rate from 7% to 6% in December 2010 in a bid to revive lending and stimulate growth. However, increased consumer demand pushed up prices and put pressure on the Kenyan shilling as demand for imports increased substantially. Inflation is projected to fall to single figures in 2012 and 2013 thanks to improved food production and stability in fuel prices. The year 2011 was marked by the passing of legislation to put into effect the new constitution and the appearance of six Kenyan citizens at the International Criminal Court, while political parties began preparing for elections expected in 2012. Youth unemployment is a growing problem in Kenya as it makes up 70% of total unemployment. The Youth Enterprise Development Fund, operational over the last five years as the main intervention agency, has, among other actions, disbursed almost KES 6 billion to some 157 538 youth enterprises; organized youth trade fairs; built simple infrastructure for young people; and started pre-financing training for the young. The fund will be expanded in the coming years to ensure increased employment for the young.