Effects Of 2008 Crisis N Political Economy Decisions

STUDENT ID: S00801773 International Business Economics INB 460 Effects of 2008 crisis n political economy decisions in two countries: India China Word Count: 1647 Contents Introduction 3 China 3 India 4 Economic Policies 4 FDI 4 GDP 7 Inflation 8 Current Account 9 Conclusion 10 Bibliography 10 Introduction The financial crisis, which began in late 2007 in US, went on to affect Europe and Asian counties. The economists were of the opinion that it would not affect the developing nations like China and India. Moreover as per the economists, these countries have already adopted reforms, which would make them withstand such crisis, and hence would be able to sail through it. But that was not the case. We would be comparing the economic policies of these countries’. Both the countries’ have high economic growth rate since last decade or so and are rapidly raising their footprint in global scenario. China China opened its arms’ in the late 70’s and since then has never looked back. From a centrally planned economy to market based economy has put China as a major global economy. Till recently, a command economy, China has move towards more private sector, but still majority of the macroeconomic processes are controlled by state. The country has moved to being a manufacturing hub on account of its huge low cost manpower and became an export hub by providing subsidized infrastructure (Paul,Show MoreRelatedThe Financial Crisis Of 20071646 Words   |  7 PagesThe most recent financial crisis of 2007 was felt throughout the world, and brought about huge economic consequences that are still being felt to this day. Within the United States, the crisis undoubtedly resulted in a surge in poverty and unemployment, a significant drop in consumption, and the loss of trust in the capitalist economic system. Because of globalization, this crisis was felt through the intertwined gl obal markets, affecting underdeveloped countries even more. 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The Synthesis Of Henry Ford - 2710 Words

Synthesis Essay- Henry Ford MSgt Ryan S. Harris Senior Noncommissioned Officer Academy March 28, 2016 Instructor: Bradley E. Walters Synthesis Essay- Henry Ford 8 When someone mentions the name Henry Ford, most people would think that he was just the owner of Ford Motor Company and that he made the model -T. Henry Ford accomplished much more than that as he was one of the greatest Visionary and Ethical leaders of the early 1900’s. The first half of this essay will explain how Henry Ford designed an everyday automobile for the everyday family through Team Dynamics and that he inspired his workforce to reach his goal by using Full Range Leadership. Then this essay will explain how he built a successful diverse workforce through†¦show more content†¦The Ford Motor Company was not the only auto manufacturer around and there was competition to keep his employees to remain with him . During those eight years of coming up with ways to produce an affordable automobile , Henry Ford also needed to take care of his people. One of the main reasons that Ford Motor Company did so well is because Henry Ford was a Transformational leader and used Full Range Leadership. He used Inspirational Motivation to inspire his employees to put forth the effort to achieve his ideas (BCEE, 2016b, p.11 ). In the early 1900’s , Henry Ford hired many Americans and many immigrants to make his company a well-oiled machine. He knew what motived them to work hard and that was money, healthcare and citizenship. Henry Ford provided these by building a health clinic right next to his automobile factory. For the immigrant employees , he aided them in learning English and opened up avenues for them to get their citizenships (Neil Schlager, 2001). He also knew the needs of his employees and used Individualized Consideration when he introduced the five dollar a day work concept (BCEE, 2016b, p.11). 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The Effect Star Wars Had on American Culture free essay sample

The use of Star Wars in American culture has helped to define culture in terms of new markets, the formation of a cultural community, and what it means to be modern in culture and society. George Lucas started his production company Lucasfilm Limited for the production of Star Wars, this in turn led to a new market and the creation of different companies, all with a pedigree leading back to Lucasfilm Limited and Star Wars. Star Wars also led to the formation of a new sub-culture in American culture, the culture surrounding the way people of all ages can interact and play, as well as creating infinite possibilities for Star Wars games and themes. Star Wars also shows us what it means to be modern, and in studying the great films one can see all the different technologies we have today that were a product of the Star Wars universe. Lucasfilm Limited, founded by George Lucas in 1971, is best known for the Star Wars and Indian Jones films and got the ball rolling for the domination of the film market in terms of special effects. Here is a quick list of subsidiary companies to Lucasfilm Ltd. : Industrial Light and Magic, Skywalker Sound, LucasArts, Lucas Licensing, Lucas Learning, Lucas Books, Lucasfilm Animation, Lucas Marketing, Lucas Online. Former subsidiary companies include THX Ltd. , and Pixar Animation Studios. These ten companies were all built off Lucasfilm Ltd. and show how Star Wars led to George Lucas domination over the special effects film industry. Industrial Light and Magic is an American Academy Award-winning motion picture visual ffects company founded in 1975 by Lucas. Skywalker Sound is the sound effects, sound editing, sound design, sound mixing and music recording division of Lucasfilm Ltd. LucasArts is an American video game developer and publisher, it publishes games based primarily off Star Wars. Lucas Licensing and Lucas Learning are both divisions under Lucasfilm Ltd. in charge of the licensing and merchandising of products, as well as the publishing of educational materials. Lucas Books is the division in charge of all book publishing under Lucasfilm Ltd. Lucasfilm Animation is an animation studio founded in 2003, its first major production was the Star Wars: Clone Wars television series. Lucas Marketing and Lucas Online are divisions of Lucasfilm Ltd. in charge of marketing of products and website production, respectively. THX Ltd. is a high-fidelity audio/visual reproduction standard for movie theaters, screening rooms, home theaters, computer speakers, gaming consoles, and even car audio systems. It was founded in 1983 by George Lucas in order to ensure that the soundtrack for the third Star Wars film, Return of the Jedi, would be accurately reproduced in the best venues. Pixar Animation Studios is a computer animation film studio, best known for its CGI-animated feature films. Pixar began in1979 as the Graphics Group part of the computer division of Lucasfilm Ltd. These are just some of the larger companies that are a part or were at one time a part of Lucasfilm Ltd. , which generated the majority of its power/revenue from the Star Wars franchise. Star Wars has created and funded the market of animated film in American culture through the growth of Lucasfilm Ltd. and the creation of enormous film companies such as THX and Pixar. Not only has this dynamic franchise created new avenues in the animated film market, but is has also become a popular commodity in our culture. The six-film Star Wars saga has had a significant impact on American popular culture, with Darth Vader being an iconic super villain and phrases like May the Force be with you being a popular good-bye phrase. Since that historic Friday in May of 1977, science fiction, particularly in film, has often been influenced and compared to Star Wars, and it also helped launch the sci-fi boom of the late 1970s and early 1980s, making science fiction films a blockbuster genre. The Hollywood-focus shifted from just meaningful stories based on dramatic conflict, themes and irony to the special effects laden blockbusters following these meaningful stories. Before Star Wars, special effects in films had not appreciably advanced since the 1950s, but the commercial success of the franchise created a boom in the special-effects industry, this surge being led by Lucasfilm Ltd. The American conductor, pianist and composer, John Williams, composed the film scores, or music in the film, for films such as Indiana Jones, Jaws and equally if not more important, Star Wars. Williams film scores have become iconic musical choices for fanfare, sporting events, or other Star Wars events. There have also been numerous amounts of Star Wars parodies and spinoffs such as Spaceballs, or television episodes from Family Guy, The Cleveland Show, and numerous other television episodes. The creation of Star Wars action figurines and other Star Wars toys is a huge market that is growing every year. One of Legos, construction toy sets, most popular sellers is the Star Wars themed Lego sets. With the rise of video games over the past two decades has also seen some growth due to the Star Wars community. LucasArts has produced over 80 individual Stars Wars video games since Star Wars first came out, creating its own sub-genre of the video game market. Most importantly with the cultural community aspect of Star Wars, we see the unification of many different individuals. How many people in American culture today cannot recognize Princess Leias cinnamon bun hairstyle, or the iconic sound of Darth Vaders breathing, or the quirky speech of Jedi Master Yoda? Star Wars has created a community of people who can recognize the different characters based off individual features, such as Vaders breathing or Leias hair, but it also gives many people a common ground to discuss different aspects of life, because Star Wars touches almost every aspect of life. One can equate a forest to the trees of Endor, or a construction machine to the movements of an AT-AT, or an icy climate to that of Hoth. The classic storyline that follows a poor, orphaned farm boy join a group of rebels to destroy his villain father and the evil he stands for is simple enough for kids of all ages to understand, and exciting enough to appeal to the kid in all of us. Then with the extension of the trilogy to Episodes I, II, and III, the storyline is made even deeper and more complex as viewers watch the upbringing of the young Vader. The story following Anakin Skywalker appeals to many because of his rastic transformation from the innocent boy to the adult who gives in to emotions, just like many of the Star Wars viewers who may, every once in awhile, give in to emotion. The formation of the Star Wars community is an example of a common ground where ANY individual is welcome just due to their ability to recognize Star Wars in popular culture. This franchise also displays what it means to be modern in terms of technology, and we can see how technology today was affected by Star Wars. The cardboard TIE Fighters and fireworks explosions were what was used to create the special effects of the first Star Wars trilogy. Looking back on those films, the technology seems quite barbaric, where is the CGI?! But in the summer of 1977 the special effects of Star Wars was equal to the visual (not storyline) performance of James Camerons Avatar. When George Lucas founded Industrial Light and Magic he did so not just to improve on the technology and special effects surrounding Star Wars, but other film industries as well. Since Lucas moved the company to Marin County in 1978, Industrial Light and Magic has gone on to produce the special effects of nearly three hundred films, including the Indiana Jones series, the Harry Potter series, the Jurassic Park series, the Back to the Future trilogy, many Star Trek films, the Pirates of the Caribbean series, the Terminator sequels, the Transformers films, the Men in Black series, the Mission Impossible films, E. T. the Extra-Terrestrial, and of course the Star Wars franchise. All big blockbuster series or films, all special effects taken care of by Industrial Light and Magic, which was founded based on the special effect needs of Star Wars. The Star Wars franchise has also provided inspiration for the U. S. government when it come to technology. The Strategic Defense Initiative, created by President Ronald Reagan in 1983, aimed to used ground-and-space-based lasers, missiles and other weapons to help protect the United States from attack by nuclear missiles. Critics derisively referred to it as Star Wars. Reagan himself may have drawn upon Star Wars for inspiration when he referred to the Soviet Union as the Evil Empire, echoing the use of Evil Galactic Empire in the opening crawl for A New Hope six years earlier. Another link to the U. S. government and Star Wars lay in the ideas of U. S. Army Lt. Col. Jim Channon for a First Earth Battalion. As detailed in the book The Men Who Stare at Goats and fictionalized in the film of the same name, the U. S. military researched the idea of super-soldiers they called Jedi warriors, who could, among other abilities, adopt cloaks of invisibility, pass through walls, precognitive sense knowledge of the future and even kill goats by staring at them. A more recent example of how Star Wars influenced modern technology is election night, 2008. CNN presented correspondents as holograms much like the scenes from Star Wars, complete with partial translucence and a glowing blue haze around them. The process required 35 HD cameras and is called tomograms, made by capturing images of a person from all sides, reconstructing them with computers and displaying them on screen. The use of bionic hands and other limbs has also become more and more prominent with modern technology, and many amputees equate themselves with Star Wars character who were the first to be seen with bionic limbs that can be compared with todays standards. Star Wars has also influenced many modern military technologies. Wicked Lasers, a Hong Kong-based company, recently developed an ultra-powerful handheld laser, yes, a light saber. According to developers, it can cause permanent eye damage and even set skin ablaze. Called the Spyder III Pro Arctic, it contains a full watt into its sleek confines, and could even injure someone a mile away. Another technology which can be attributed to the Star Wars franchise is robotic technology. Intelligent droids such as R2-D2 and C3-PO captured the imagination of millions, and over the course of three decades the world has seen incredible steps in intelligent robotic technology. There are robotic vehicles that can be used to defuse explosive devices and save lives, but what about a robot that can go on the offensive to, like the droid army in Episode I: A Phantom Menace? The U. S. Army has developed the Modular Advanced Armed Robotic System (MAARS), which is a robot that can open doors and set explosives or remove object with a gripper claw. Its turret is fitted with an M24b machine gun, which gives it a lot of fire power, and it also has gunshot detection capability, so it can determine where shots are coming from and return fire. It also has 360-degree vision, two way communications, night vision, and thermo vision. Like R2, this machine is the ultimate Swiss-army knife. Technologies such as the MAARS or the Spyder III Pro Arctic are modern technologies influenced by the Star Wars franchise. Starting with the foundation of Lucasfilm Limited, George Lucas set off a urge for science fiction technologies, made Star Wars a commodity of popular culture, and dominated the market surrounding Star Wars and animated film. As Lucasfilm Ltd. rew and sprouted new divisions and companies, Star Wars became interlinked with most every animated film due to Pixar and Industrial Light and Magic both being subsidiaries to Lucasfilm Ltd. Many modern technologies, such as the MAARS, or bionic limbs, have culminated out of the Star Wars community, as well as Reagans Star Wars Initiative. Star Wars as a community engulfs much of American popular culture. Just look around on Halloween, how many Vaders, Jedis, Storm troopers are out and about? I personally have been Darth Vader on 3 separate Halloweens. On election night 2008, one of the most important dates in American history, CNN uses a Star Wars theme while correspondents discuss. Just the sheer size of the Star Wars universe can be daunting, but this universe keeps growing, and it is for that reason the Star Wars phenomenon will continue to live on with civilization. Works Cited Brooker, Will, 2002,  Using the Force: Creativity, Community, and Star Wars Fans,  ISBN 0-8264-5287-6 Cook, David A. , Lost Illusions: America Cinema in the Shadow of Watergate and Vietnam, 1970-1979, History of the American Cinema, V. , University of California Press, ISBN 0-520-23265-8 Hadhazy, Adam. Wicked Lasers Lightsaber Can Burn Eyes and Skin.   Tech News Daily. n. page. Web. 10 Dec. 2012. lt;http://www. technewsdaily. com/619-wicked-lasers-lightsaber-can-burn-eyes-and-skin. htmlgt;. Smith, Ned. Seven Sci-Fi Weapons from Tomorrow Are Here Today.   Tech News Daily. n. page. Web. 10 Dec. 2012. lt;http://www. technewsdaily. com/602-seven -sci-fi-weapons-from-tomorrow-are-here-today. htmlgt;. Martinez-Moncada, Diego. How Star Wars Changed the World (infographic).   Daily Infographic. (2011): n. page.

Opportunity Recognition free essay sample

Mr Kurian was born in December, 13th 1961 and had graduated in Diploma in Electrical and Electronic Engineering in the year 1983. Mr Kurian has been in the engineering industry for almost 30 years, in which he has worked under different companies during the first 17 years. Mr Kurian had begun his career as entrepreneur in the year 2000, where he established his own engineering firm alongside with his 2 partners. Mr Kurian took full advantage of his experience working under different engineering firms for 17 years, and applied engineering and management skills that he had learnt to start his own business. Currently, Mr Kurian Zachariah is the Managing Director of Frezawa Engineering Sdn Bhd. This literature review concentrates on the topic of opportunity recognition for entrepreneurs. In order to start-up business, entrepreneurs have to identify the idea or core value of the business. Generally, entrepreneurs would go for opportunity or business which would promise greater success in the market. We will write a custom essay sample on Opportunity Recognition or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 2. 0 Literature Review Opportunity Recognition A stream of research shows that opportunity recognition is highly associated with entrepreneur’s alertness in the market, prior knowledge on a particular field, mental stimulation, social capital, and behavioral and cognitive skills. According to research done by Gregoire, Barr and Shepherd (2010, 29), cognitive skills are crucial for entrepreneurs to identify opportunities. Entrepreneurs used their prior knowledge and creativity skills in order to search for â€Å"open window† in the market. D’Souza, Rodney, and Schenkel (2011, 46) stated that greater prior knowledge breadth provide entrepreneurs with higher chances of identifying innovative opportunities. Research shows that 46% of the studied entrepreneurs agreed with crucial roles of knowledge in identifying the best opportunity. With knowledge, entrepreneurs know how and where to look for opportunities. Butler, Doktor and Lins (2012, 23)viewed alertness and social interaction as the major driving forces for entrepreneurs. St-Jean and Tremblay (2011, 42) stated in his research that entrepreneurs are alert to the environmental factors such as economy, political and social to create opportunities. Moreover, it is observed from the literature review that entrepreneurs applied different types of strategies and techniques throughout the opportunity recognition process. Studies done by Butler, Doktor and Lins (2012, 32) shows that entrepreneurs involved the technique of active searching and experiential learning throughout the recognition process. In other hand, Gregoire, Barr and Shepherd (2010, 63)concluded in his research that entrepreneur opportunities occurred based on timing and luck; thus waited for opportunities to occur instead of taking crucial steps searching for opportunities. Chitakornkijsil (2011, 53) noted that different individuals discovered different opportunities, according to their particular way of gathering and processing information. Based on the study done by Butler, Doktor and Lins (2012, 98), entrepreneurs have different sources of opportunities. First, Butler, Doktor and Lins viewed that entrepreneurs focused on innovation as a source of opportunity. Entrepreneurs focused on innovation of technology to create a â€Å"door† to the market. D’Souza, Rodney, and Schenkel (2011, 94)also stated that entrepreneurs used innovation to create new products and market for customers. For example, the introduction of smart phones and tablets to the market. Furthermore, entrepreneurs also considered society’s knowledge and awareness as one of the sources. The development of new knowledge would enhance awareness in the society. Therefore, entrepreneur used society’s awareness and created solution to the problems. Research conducted on sample group of Panel Study of Entrepreneurial Dynamics concluded that 53% of entrepreneur respondents would take great advantage from introduction of new knowledge to the market. Butler, Doktor and Lins (2012, 54) stated entrepreneurs likely taken opportunity regarding health and environmental awareness such as pollution and disease. In addition, entrepreneurs also depend on market trends and structure as a source of opportunity. Entrepreneurs studied growing trends in the market and implied related strategy to enter the market. Entrepreneurs focused on trends and demands to ensure profits and success. However, showed different view compared to other research reports. St-Jean and Tremblay (2011, 67) was less focused on these sources but emphasized on facts that entrepreneurs depends on external environmental factors such as politic, economy, and social environment as the major source of opportunity. D’Souza, Rodney, and Schenkel (2011, 85) implied that entrepreneurs take advantage of the current environmental crisis such as economy downfall, riot, and social crisis to create business opportunities. A stream of research showed that entrepreneurs search for business opportunities by implementing strategic methods which depends on active searching, social networking, past experience learning, and deep knowledge. Research by Pech and Cameron (2006, 142)showed that entrepreneurs used active searching for information in order to locate â€Å"new window† in the market. Plus, Nixdorff (2008, 44) stated that the potential of success for entrepreneurs depends on the social network ties of the individual. According to Chitakornkijsil (2011, 75), the bigger the size of entrepreneur’s social network in the market, the higher entrepreneur’s chances of gaining potential information. Social interaction also helped entrepreneurs in providing network chain of opportunities. Furthermore, most of the research project studied mutually agreed with the statement of entrepreneurs mostly depend on past experience in order to create new opportunity. Entrepreneurs used past experience learning method to create innovation to the previous idea such as features or design modification. Entrepreneurs with past experience have higher knowledge on what the future successful product should be. Survey conducted by Pech and Cameron (2006, 118)on sample group of successful entrepreneurs shows that almost 55% of the entrepreneurs managed to locate high potential opportunities through past experience learning. In other hand Ozgen (2011, 58) and Kolb (2010, 86) have the opposite views. Ozgen and Kolb denied social network and experience to be the best way for entrepreneurs in identifying opportunity. However, both of the research agreed that entrepreneurs move together with the demands of market and availability of technology in market. This means that entrepreneurs followed the trends and high demands in market, but produced only at limited innovation. Based on the literature review done on several research projects, different conflicting ideas were studied on the characteristics of a potential opportunity. Through comparison, most research projects agreed with characteristics of a high potential opportunity to be rare, exclusive, hard to copy and not readily substituted opportunity. In other words, the opportunity would require an introduction of new market. However, Ozgen (2011, 47) denied the idea of rare and exclusive opportunities to be majorly focused by entrepreneurs, as according to Ozgen, this type of opportunity would be cost expensive, compared to normal market opportunity. The research done in developing countries shows that 62% of the studied entrepreneurs went for low cost opportunity as they defined exclusive products to be less promising to succeed in the country. Nixdorff 2008, 62) Therefore, Nixdorff stated entrepreneurs considered low cost opportunity to be high potential opportunity in the market as it is more attractive and promise fewer loss. However, some entrepreneurs avoided low cost venture opportunity as it is a long-term profit venture. In other hand, entrepreneurs went for new markets as there would be fewer competitors in the market and are more attractive to society. Empirical research done by Gregoire, Barr and Shepherd (2010, 134) shows on average only 2 out of 5 entrepreneurs would gain greatest share in ighly competitive market. Therefore, it would be legit to decide opportunity with fewer competitors would offer greater potential of success for entrepreneurs. According to research projects studied, most of researchers mutually stated that the major challenges faced by entrepreneurs in identifying opportunity occurred from self and external environment. From the self view, entrepreneurs faced challenges in identifying potential opportunity due to anti-social lifestyle, uncertainty avoidance attitude, lack of creativity and imagination, poor knowledge, and refusal behavior. These factors studied to results in entrepreneurs having less network ties in the market, low confidence in taking risks, lack of alternative and innovative idea, and loss of opportunity. Based on study conducted by Kolb (2010, 131) on entrepreneurs of Institute of Wyoming, 44% out of 100 respondents agreed that the major challenge which could constraint them from identifying potential opportunities is entrepreneur’s own attitude and behavior. Furthermore, entrepreneurs also faced obstacles in opportunity recognition due to environmental factors such as lack of technology innovation and legal constraint idea. Research studied by Chitakornkijsil (2011, 113), proved that the rate of opportunity development in developed countries to be approximately 32% greater than developing countries. This shows that entrepreneurs in developing countries such as Malaysia, China, and etc, are facing obstacles due to level of technology enhancement and legal constraints idea, where entrepreneur’s idea have to be filtered by the ethical perspective of the society. This can be seen from development of smart phones in developed countries, but only few developers in developing countries. . 0 Conclusion As conclusion, entrepreneurs can be defined as innovators who, despite constraints, actively focus on searching and identifying potential opportunities in the market for the sake of the business establishment, survival and growth. Based on the literature review conducted, it is studied that entrepreneurs implemented cognitive and creativity skills in identifying the highest potential opportunities in the m arket. It is important for entrepreneurs to be alert and aware of market opportunity. With the presence of the required skills, entrepreneurs would still be required to implement strategic techniques and strategies such as active searching and social interaction to identify promising â€Å"window† in the market. Furthermore, it is studied that the strength or competitive advantage of entrepreneurs in the market depends on the entrepreneur’s network ties and prior knowledge on the field. The best way for entrepreneurs to increase the possibility of identifying potential opportunities is to increase size of network, which would increase sources of information.