Literature Review of Global Fashion Branding and Marketing

Literature Review This literature review examines the process of global fashion branding and marketing by looking at historical trends and methods used by different companies. The articles were chosen for their appropriates as global source materials which reflect some aspect of fashion branding and marketing. The attempt was to gain a comprehensive view of branding and marketing as they occur in the fashion industry and the how both are achieved. Review Marketing departments look to trends organized by the consumers of a particular industrys products to determine how the will present their product and list new ones as they emerge. Often, if a company has a good reputation, this is done by promoting the brand of a company in order to distinguish it from other products which may be similar but not the same. An example of this is the fact that Nestle has recently been using its company name to distinguish its products from those of other industry products rather than hoping that the product brand name can stand on its own (Banufu-Gomez, et al, 2009). Of course, this happens within the fashion industry also, but it is much more prevalent now that many brand names have reached a global significance (Crewe, 2008). Global marketing, and specifically branding, is sometimes problematic for a company considering that A companys branding strategy often has a large impact on the success or failure of a particular product (Banufu-Gomez, et al, 2009). When looking at theShow MoreRelatedWhat Makes A Brand?1805 Words   |  8 PagesNowadays fashion brand is more in more participate people’s life. Consumers prefer trust high awareness brand rather than nameless brand, for example, there is a survey provided that in the whole sample was familiar with Tesco brand with 88.7% of participate people choose Tesco product (Ross and Harradine, 2011). Brand is a relationship between consumers and business, is a communication for getting familiar with each other. For instance, when someone mentioned Burberry, people will associate trenchRead MoreCommes Des Garcons Brand2921 Words   |  12 Pagesselected for the discussion is the Japanese fashion line Comme des Garà §ons. The paper is divided into two parts. The first part defines the concept of ‘cultural resource’ from the branding perspective and prepares ground for the argumentation by referring specifically to the readings from the course literature. The second part gives a short introduction of the brand Comme des Garà §ons and argues how and why it is a ‘cultural resource’ based on the course literature and the cultural landscape of the brandRead MoreHow Luxury Fashion Brands Centralize Public Relations Across Multiple Consumer Touch Points3018 Words   |  13 Pagesintroduce the research topic: how can luxury fashion brands optimise public relations across multiple consumer touch points in order to motivate purchase decisions without losing their positioning status? This proposal shall demonstrate previous research of the chosen topic by means of a qualitative literature review, which will identify the key theories and authors surrounding the subjects of public relations and luxury fashion brands. This review is conducted in order to justify the selectedRead MoreA Good With Luxury Brand1498 Words   |  6 PagesA good labeled with luxury brand, of which is also known as superior brand, opposites to those goods labeled for everyday purpose. And in the meanwhile, it is always associated with fashion factor, as a common sense, when people talk about luxury goods. Apparently, luxury brand is treated as a social indicator in some extends since it becomes one of the most important symbols for social status and life style in worldwide nowadays. In the meanwhile, online shopping continues to a robust growth, withRead MorePrinciples of Corporate Rebranding8168 Words   |  33 Pagesrebranding Principles of corporate rebranding Bill Merrilees and Dale Miller Department of Marketing, Grifï ¬ th University, Gold Coast, Australia Abstract Purpose – The paper aims to highlight the importance of corporate rebranding in branding practice, which is neglected in theoretical treatment, so an extended theory is to be developed. Design/methodology/approach – From the literature, the existing state of the theory of corporate rebranding is articulated. That theory is extended byRead MoreEffective Branding And Its Effect On Consumers Cognition And Understanding Towards The Brand Perception And Brand Associations2196 Words   |  9 Pagesworld fulfilled with bombarded visual information. 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As a company, Paramount has a strong history in the industry, entering the market back in 1962Read MoreCorporate identity16799 Words   |  68 PagesThe research register for this journal is available at http://www.mcbup.com/research_registers European Journal of Marketing 35,3/4 248 The current issue and full text archive of this journal is available at http://www.emerald-library.com/ft Corporate identity, corporate branding and corporate marketing Seeing through the fog John M.T. Balmer Bradford School of Management, The University of Bradford, UK Keywords Corporate identity, Corporate Communications, Brands, Corporate

Business Law Essay - 2027 Words

Chapter End Questions Chapter 12-12.1, 12.3 Chapter 13-13.4, 13.5, 13.7 Chapter 14-14.3, 14.5 Chapter 15-15.2, 15.3, 15.4 12.1 Jerome is an elderly man who lives with his nephew, Philip. Jerome is totally dependent on Philip’s support. Philip tells Jerome that unless Jerome transfers a tract of land he owns to Philip for a price 30 percent below market value, Philip will no longer support and take care of him. Jerome enters into the contract. Discuss fully whether Jerome can set aside this contract. Yes, I believe Jerome can set aside the contract because it was formed under undue influence and duress. Since Jerome is totally dependent on Philip for his support and the contract benefits the guardian by being able to purchase the land†¦show more content†¦13.7 Carlin Krieg owned a dairy farm in St. Joe, Indiana, that was appraised at $154,000 in December 1997. In August 1999, Krieg told Donald Hieber that he intended to sell the farm for $106,000. Hieber offered to buy it. Krieg also told Hieber that he wanted to retain a â€Å"right of residency† for life in the farm. In October, Krieg and Hieber executed a â€Å"Purchase Agreement† that provided that Krieg â€Å"shall transfer full and complete possession† of the farm â€Å"subject to [his] right of residency.† The agreement also contained an integration clause that stated â€Å"there are no conditions, representations, warranties, or agreements not stated in this instrument.† In Nove mber 2000, the house was burned in a fire, rendering it unlivable. Hieber filed an insurance claim for the damage and received the proceeds, but he did not fix the house. Krieg filed a suit in an Indiana state court against Hieber, alleging breach of contract. Is there any basis on which the court can consider evidence regarding the parties’ negotiations prior to their agreement for the sale of the farm? Explain. [Krieg v. Hieber, 802 N.E.2d 938 (Ind.App. 2004)] Yes, because the contract did not represent the complete and final statements of the parties’ agreement. Since there is a â€Å"right of residency†, additional testimony and evidence needs to be shown to the court by way of the Parol Evidence Rule. Since Krieg resides at the farm, and it is possiblyShow MoreRelatedBusiness Law And Ethics : Backoffice Business Brief1862 Words   |  8 Pages Running head: BACKOFFICE BUSINESS BRIEF 1 Business Law and Ethics BackOffice Business Brief Patten University BACKOFFICE BUSINESS BRIEF 2 Constitutional Rights and Guarantees BackOffice is a new startup business that will provide potential clients with an application (app) that woul d automate certain business functions. BackOffice will be selling the app to certain business clients that will use it to facilitate their customers’ transactions. 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Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary toRead MoreBusiness Law3143 Words   |  13 Pages2012 – OCTOBER SEMESTER 2012 STUDENT NAME: CHU THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what does it effect to the agreement? 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Under civil law, two parties here had signed a civil contract in writing. Because the contract failed to specify clearly front or rearRead MoreBusiness Law Development Of Mongolia2212 Words   |  9 PagesCourse Paper Myagmarsuren Jargal International American University BUS 540: Business Law for Managers Flavia LLoyd June 28, 2015 Business Law Development Issues in Mongolia Mongolia is a developing country, which is encountering challenges to develop modern business law. During the twentieth century, Mongolia had been a socialist country and developed almost fifty years of non-private property regime. However, the end of the twentieth century, the country changed its regime to democraticRead MoreBusiness Law1345 Words   |  6 PagesQn 1: Whether James can hold the Happy Holiday Hotel for the loss of his property under the common law? The issue of this case will be whether James can hold Happy Holiday Hotel responsible for the loss of his property notwithstanding the exemption clause found in the hotel rooms. Under the Exemption Clauses in Common Law, it states that in order for this clause to be valid, the clause must be included in the contract when the contract is made. If there is any attempt to include it in after theRead MoreBusiness Law1088 Words   |  5 Pagesconditional constitute consideration? Yes, such a promise consideration even if the condition is unlikely to occur. 3. What is the general rule about the adequacy of consideration? The adequacy of the consideration is irrelevant because the law does not prohibit bargains. 5. Is there consideration when a secured note for a lesser amount is given and accepted in discharge of an unsecured note for a greater amount? Explain. 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Short Story Outline free essay sample

A wondrous and sweet dog with a lot of heart. He was definitely not the lazy type. He was rambunctious and full of energy. He always had to be doing something. Lucky never showed any signs of fear. Never have I seen such an intelligent animal before. Lucky was the king of his own world. Everything was his prey. Supporting Character: Me I was protective and proud of my dog. The world was ours for the taking. He was the one person I could talk without being judged. I was definitely the adventurous type and when I would decide it was time for an adventure. I would never forget to have my comrade by my side. PLOT Exposition: This story was some of the best times during the first five years of my life. It took place at the first place I ever called home. There I lived with my aunt, my uncle, and their child. We will write a custom essay sample on Short Story Outline or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There was also my mom, my brother, me, and lucky. Most of mine and Lucky’s adventures took place in our back yard. Rising Action: I receive news from my family that they are going to get me a dog. Lucky and I become acquainted. More and more we begin to journey into the backyard where our adventures take place. Climax: Lucky sees that I am in harm’s way and as a child I was incapable of protecting myself. He comes running to the rescue and kills the snake and frees me from the terrible outcome of being bitten. Falling Action: Days later, Lucky unfortunately disappears and I can’t help but feel like I lost my best friend. We never found lucky nor did we hear anything from neighbors about his reappearance. Resolution: Finally we gain closure and learn that lucky had been run over. This information helped me by telling that Lucky had not ran away because he wasn’t satisfied with our friendship but that someone had mistakenly separated us. Lucky was my best friend and I could never repay for all of the childhood memories he gave me.

Scarlet Fever Essays - Pediatrics, RTT, Streptococcal Infections

Scarlet Fever A disease caused by an infection with group A B-hemolytic streptococcal bacteria that occurs in a small percentage of people with strep throat. When we hear the words "Scarlet Fever" we often tend to think of a deadly disease that doctors have no cure from. But it is quite the contrary, scarlet fever is just a serious case of strep throat and the medication prescribed by doctors, cures within days. But the symptoms unfortunately are not very pleasant and having Scarlet Fever is not just a walk in the park. After reading up on the disease hopefully the importance of prevention and symptoms will be understood and no more cases of Scarlet Fever will creep up. Scarlet fever was once a common, that usually affects children between the ages of two and ten, disease but now is easily treatable. The organism usuallly enters the body through the mouth or nose. It is generally transmitted from person to person by direct contact. That is, from the sprays of a sneeze from an infected person, or by any indirect contact through door handles previously touched by an infected person. The bacteria produces a toxin that causes a rash that initially appears on the neck and chest, then spreads over the body. The rash of scarlet fever usually begins like a bad sunburn with tiny bumps (papules), and it may itch. The rash usually appears on the second day of a Group A streptococcal throat infection, and the incubation period for Group A strep throat is usually 2-7 days after exposure. Typically the rash begins as small red macules which gradually become elevated. The rash usually appears first on the neck and face, often leaving a clear unaffected area around the mouth. It spreads to the chest and back, then to the rest of the body. In body creases, especially around the underarms and elbows, the rash forms classic red streaks called Pastia's lines. Areas of rash usually blanch (turn white) when you press on them. By the sixth day of a strep infection the rash usually fades, but the affected skin may begin to peel. As the rash fades, peeling (desquamation) may occur around the finger tips, toes, and groin area. This peeling may last up to ten days. Risk factors are strep throat infection, although less than 50% of the patient's who develop scarlet fever have a history of a sore throat. Not all streptococci produce this toxin and not all persons are sensitive to it. Two children in the same family may both have strep infections, but one (who is sensitive to the toxin) may have the rash of scarlet fever and the other may not. Prevention is the early treatment of strep throat. Bacteria are spread by direct contact with infected persons or by droplets exhaled by an infected person. Avoid contact with infected persons. In everyday life, there is no perfect way to avoid the strep infections that cause scarlet fever. At home, when someone is sick with a strep throat, it's always safest to keep drinking glasses and eating utensils separate from those of other family members, and to wash these items thoroughly in very hot soapy water. Use antibacterial soap if possible. Wash your own hands frequently as you care for a child with a strep infection. Symptoms sore throat fever Vomiting Loss of appetite rash on neck and chest small red macules that become elevated fading in about 3 days to leave a rough "sandpaper" feel to the skin peeling (desquamation) of the finger tips, toes, and groin swollen, red tongue (strawberry tongue) Pastia's lines (bright red colour in the underarm and groin creases) Chills Tonsils swell and form a white coating headache generalized discomfort From two to three days after the first appearance of symptoms, red spots may appear on the palate; bright red papilla emerge on the tongue, giving it the well known description of strawberry tongue. A characteristic skin eruption appears on the chest and usually spreads all over the body except the face. This rash fades on pressure. The fever can run as 40 to 40.6 degrees Celsius (104 to 105 F) generally lasts only a few days but has the ability to remain for a week. The rash fades within a week or so, and at that time the skin begins to peel. Estimates are that in a home where someone already has a strep throat infection, about one out of every four family members will get it too. There are also cases where persons,

Idea Of Government In Nectar In A Sieve Essays - Nectar In A Sieve

Idea Of Government In Nectar In A Sieve Essays - Nectar In A Sieve Idea Of Government In Nectar In A Sieve Government in Kamala Markandayas, Nectar in a Sieve One might think of government as a bunch of sly politicians running the country from a little office in the White House. Or perhaps he or she pictures a mighty king sitting on the throne of his country, telling his loyal subjects and servants what to do. Even though both of these are very common descriptions of government, neither of them fit the governmental system in the small village of Gopalpur in South India. The book, Nectar in a Sieve, by Kamala Markandaya describes such a village, as well as the governmental system within it. The characters in the book are used to a government that is quite different from those in the United States or Western Europe. In Gopalpur, the rich rule society while the poor are left to fend for themselves. And, in addition, the rich do not care about the well-being of the poor villagers. There is no set governmental system; it is simply understood that the rich hold all the authority. The rich posses the money, and therefore, the power to make the ru les by which everyone else must follow. The structure of the village was this: the rich owned all the land. They would hire tenants to farm the land for them, since they owned such vast amounts that they could not work it themselves. However, there were so many tenants hired, that the owner could not keep track of them all. So he hired overseers to manage the village. Each of these overseers were assigned their own districts, which they would manage for the owner of the land in return for a small percentage of the rent. And this system was accepted as government in the eyes of the villagers. It was just the way things were. In her book, Markandaya tells the story of one of these tenant farmers, Nathan. His wife was called Rukmani, the main character of this novel, and the two of them lived with their family in a small mud hut Nathan had constructed for them when they were wed. The mud hut was not at all extravagant, they did not wear nice clothes, and they had only the basics to eat, for they could not afford any more on the salary they were getting from the owner of the land. But Nathan and his wife were very content. Rukmani describes the system of land ownership as this: In all the years of our tenancy we never saw the Zemindar who owned our land. Sivaji acted for him, and being a kindly, humane man we counted ourselves lucky. Unlike some, he did not extract payment in kind to the last grain; he allowed us to keep the gleanings; he did not demand from us bribes of food or money; nor did he claim for himself the dung from the fields, which he might easily have done. (35) Sivaji was the overseer of Rukmanis district. As stated, there were many overseers who did not care about the condition of the tenants. They would take every last penny even if it meant starvation for the tenants family. Fortunately, Sivaji was different. He too had a family, and cared about the well-being of the other families in his district. One year, however, the harvest had not been as good as expected. There had not been enough crops to sell in order to pay the rent, and Nathan and his family were barely surviving. Sivaji came to collect the rent money. There is nothing this year, Nathan said to him. Not even gleanings, for the grain was but little advanced. You have had the land, Sivaji said, for which you have contracted to pay: so much money, so much rice. These are just dues, I must have them. Would you have me return empty-handed? What would you have me do? The last harvest was meager; we have nothing saved. Sivaji looked away, I do not know. It is your concern. I must do as I am bid. (77) The family obviously did not have enough money, so Nathan and Rukmani gathered up whatever valuable possessions they could find and sold them to the highest bidder.

Thomas Robert Malthus essays

Thomas Robert Malthus essays Thomas Robert Malthus was born in 1766 in Dorking, England, just south of London. He was the second of eight children. His father had worked with Voltaire, Rousseau, and Hume. He was privately educated by his father and by tutors when he was a child. When he was eighteen, Malthus went to Cambridge, which is a Jesuit college. Malthus became a curate of England, in Albury while at college. He took up his parochial duties in 1796. In 1805, he was selected to be the professor of Political Economy at the college at Haileybury, which is a college developed for the education of civil servants of the East India Company. For pretty much the rest of his life he remained a professor at Haileybury, which made him the worlds first academic economists. Malthus was also an author. He wrote an essay entitled Principle of Population, which outlined his views on population and how it affected the economy and general well-being of an area. His main theory was that overpopulation is mans greatest obstacle to human progress. He believed that population grows faster than food can to feed all the people being born. Actual population growth is kept in line with food supply growth by things like postponement of marriage, starvation both of which are characterized by "misery and vice". Actual (checked) population growth is kept in line with food supply growth by "positive checks" (starvation, disease and the like, elevating the death rate) and "preventive checks" (i.e. postponement of marriage, etc. that keep down the birthrate), both of which are characterized by "misery and vice". Malthus believed that people have a tendency to push population above the food supply and because of this tendency, it is pointless to try to help people in lower classes by giving them higher incomes and more food because they will keep having children and the incomes cant keep up with this. This tendency causes it to be impossible to ...

Social psychology High School Essay Example | Topics and Well Written Essays - 500 words

Social psychology High School - Essay Example As far as obedience is concerned we will consider many things like the peoples demographic and social issues. Jim Jones always stood up for social causes that drew people in and he was easily able to take control his members. Because of that reputation, he was considered the people's leader. Another theory is conformity, this was easy to for him to achieve for they gave up their own beliefs in order to fit in with Jones' plan. The last theory is cognitive dissonance. As far as cognitive dissonance is concerned, it was undoubtedly occurring at Jonestown. By doing this, Jones made his people fear leaving and become grateful for his protection. Until the unexpected tragedy happened. Other events that shocked the world share almost the same theories and mechanisms like the My Lai massacre, people looting during a blackout or natural disaster, the mob scenes, and using of media for persuasion an anything from needing Tylenol for a headache to political and ideological persuasion. Recently around the world we could read, hear and see or simply remember many disasters, charities and causes wherein people voluntarily lend their assistance and helping hands. Assisting people in times of trouble is quite an instinct of every human being. This instinct is made even better by our desire to volunteer.

Literacy Programs for all Grade Levels Essay Example | Topics and Well Written Essays - 1000 words

Literacy Programs for all Grade Levels - Essay Example each individual learning has his or her own learning curve that is followed by the mind of each person. In this case, it should be recognized that each individual has his or her own pace of learning that must be carefully carried through in considering the different procedures that would help one get the grip of the most important lessons he need to know as he tries to be literate with his own language. 3 This is the reason why there is a continuous search for the best kind of literacy program that is general enough to serve all the needs of students from all grade levels. The generality of this program makes it much applicable both on the part of the teachers or the educators handling the students at school and also that of the parents handling the learning needs of their children at home. As noted earlier, children of different a... It could be noted how the mind of each child responds differently to the learning presentations provided by their instructors. For this reason, each child needs to reserve personal attention so as to assure that the subjects ought to be understood are to be given the right attention that they deserve. How could this be practically done The cooperation of the parents with regards the learning program set for their children is a very important factor to consider. This is perhaps the reason why many governments around the world settle for programs that directly involve the parents' participation that would likely increase the level of learning expertise of their children towards the understanding they need to have in connection with literacy and knowledgeable use of language.4 Presented below is a likely general program that could be used as a literacy enhancement procedure among different schools that handle different grade levels. DURATION ACTIVITIES SUGGESTED INSTRUCTIONAL DIRECTIONS REMARKS AND EXPECTATIONS 1 YEAR PROGRAM FOR ALL GRADES IN AN EDUCATIONAL INSTITUTION 1st Quarter Parent-Teacher Acquaintance Meeting Here, the teachers and parents would have either a group session meeting or an individual interview [whichever is much preferred by both parties]; this would provide both teachers and parents to have a better understanding on the level of learning that their children have. Likely, the connection they would be able to establish could help both parties in assessing the problems and possible issues that may occur during the one year learning schedule of the children. Through this particular step, it is expected that the teachers

The Matthew Effect Essay Example for Free

The Matthew Effect Essay The Matthew Effect chapter of Outliers, Malcolm Gladwell states that a person’s success s attributed to the timing of their birth date as it relates to the cut-off dates of sports and education. He believes that this one random date is the start of a series of advantages that can ultimately lead to success. Although timing of a birth date and opportunities can play a significant factor in one’s success, they are not the sole determination of success. Gladwell fails to acknowledge the vital role an individual’s ambition and natural born talent play in creating success or the crucial impact family influences can have on one’s success. Over-Simplified Since Biblical times, groups of people were separated by the haves and the have not’s. Matthew 25:29 states â€Å"For unto everyone that hath shall be given, and he shall have abundance. But from him that hath not shall be taken away even that which he hath. † (Gladwell, 2008, p. 15) In chapter 1, of the Outliers (2008), Malcolm Gladwell has a similar argument in â€Å"The Matthew Effect†. He argues that personal success is attributed to hidden advantages, such as someone’s birth date, which in turn, creates opportunity through accumulative advantages. (pg. 19) Gladwell calls these successful people â€Å"outliers† which he defines as â€Å"men and women who do things that are out of the ordinary† (pg. 17). Although timing of a birth date and opportunities play a significant factor in one’s success, Gladwell’s theory that those are the sole determination of success is over simplified because it does not take into consideration the impact of one’s individual ambition, talent, and family influences. Ambition In Outliers, Gladwell states that â€Å"people don’t rise from nothing† (pg. 19) and completely discounts the role an individual’s ambition plays in achieving success. When a student, or an athlete, possesses a strong desire for success, regardless of their age or birth date, it drives them to excel beyond the normal range. A perfect example of this would be a young girl named Stephanie Bradley. She wanted to be a doctor. Stephanie grew up in a small blue collar community in rural Texas. Her parents were not college educated and lived just slightly above the poverty line. She attended a small, public, 2A high school, with average teachers. In addition, she was the youngest in her class, in cases, by more than a year because of a mid-July birthday. What set her apart from the other students was her desire for success and her passion for medicine. This ambition drove her to work hard and smart, stay focused, and never take her eye off her ultimate goal. Along the way, she made sacrifices, but never veered off course. She didn’t have any opportunities above and beyond ones she created on her own. Born With It Sheer talent is another key factor responsible for success and lies with the group of athletes that achieve success without the benefit accumulative advantages. These are the athletes who are born with a talent that supersedes the skill of other athletes. There is a difference between skill and talent. Skill is something that requires training and experience to do well, whereas, talent is a natural ability to compete with exceptional ability. (Bing dictionary, 2014) While this talent is rare to find, when it exist, these athletes can find success regardless of where their birthday falls on a calendar. One such athlete exists right now on a local high school swim team. Taylor is a high school freshman who didn’t compete in little league sports, since his parents were more artsy than athletic and they never had the financial resources to pay for extracurricular activities. In his freshman year, a friend asked him to join the swim team. Having never competed athletically, Taylor was hesitant but agreed. To everyone’s amazement, he medaled at his first swim meet. Not just in one event, but two. The next week, more success, more wins. His very first year swimming, he won at district, regional’s and is ranked 4th in the state. There is now talk of Olympic trials. He has competed and won against athletes who have been swimming since the age of four, have logged thousands of hours in the pool, and whose parents have spend enormous amounts of money on private coaches. However, Taylor wins having never received those types of opportunities. He wins because of his natural born talent. Family An individual’s family influences can also have a crucial impact on one’s success. While Gladwell acknowledges that heritage and culture plan a role in success or failure as illustrated in the Harlan, Kentucky and The Ethic Theory of Plane Crashes chapters, he doesn’t credit directly, the parents, grandparents, as well as, siblings that can provide a fundamental element in creating success. For example, if a parent has a strong desire to pass along their knowledge or skills in a particular sport, they are likely to start that process at a very early age which results in increased practice time developing the child’s skill. This parent might also supply additional training above and beyond what a typical coach would provide. The family could also have connections with coaches or teachers that allow for added instruction. Siblings can also push individuals to a higher level of performance. For example, having an older brother who plays baseball with a younger sibling will be providing further exposure that can develop their skills. All this additional training and experience can develop a child ahead of the curve, regardless of their birth date. The Other 32% Gladwell’s example of the roster of hockey players on the Medicine Hat team showed that â€Å"seventeen of the twenty-five players on the team† (pg. 23) had the perfect birth month for the sport. He credited their January, February, March and April birthdays for their success. However, that means that eight out of the twenty-five players (32%) on the team were successful, without the benefit of the perfect birth month. This group isn’t the largest percentage of players on the team but it does show that success isn’t based on just one factor. Gladwell’s argument that success stems from hidden advantages and opportunities created by those advantages is true in some cases; successful people are not created from one formula, such as what month their birthday falls. That is just one piece of the picture of success. There are a multitude of factors i. e. ambition, talent and family that play a role in determining why someone is successful and they all need to be encouraged and promoted.

Free World Economy :: Economy, Currency, Dollar

In Money, Markets and Sovereignty Steil and Hinds argue that globalization is beneficial for all but because of the uncertainties of the current monetary system governments and globalization clash as governments work to protect their currency. They argue that because of the perceived stability of the dollar the in order to create the most open and prospers economy developing countries should use the dollar in favor of the local currency (131). They show the historical benefits of using the gold standard instead of paper (fiat) money but they also show that it unadvisable for the United States to go back to the gold standard at this point in time (68). Steil and Hinds argue that if a developing country really wants to integrate into the world system they should stop using their local currency instead use the dollar or euro. This is a currency the locals want because of the stability this will bring an end to the countries monetary sovereignty but will lead to economic progress in steil and Hinds eyes (130). This opening of the countries’ economies will lead more investment in the country as investors no longer have to fear the rapid changes in value that is associated with currencies in developing countries. In these countries multinational corporations can find lower production costs and help bring the economy into the world market (111). Countries that have opened there economies to the multinational corporations and outside investment have had their per-person GDP rise which they argue is a great thing (115). This is in comparison to a country with strong monetary sovereignty and closed economy which they call a â€Å"de ad-end street† to prosperity (115). Steil and Hinds argue that money came in to use in the world not by the will of governments but by the will of merchants, then when governments too charge of issuing the money it was usually for personal profit and they routinely changed the value of the money to tax the people using it. (66-67). They also show that the idea of fait money (paper) that is not back by something valuable (gold) is a relatively new thing, the United States got of the gold standard in 1971. The historical gold standard they show to have little inflation and very few on the problems with modern currency that’s value is in the trust placed in it (105). As the main currency in 18-19 centuries the British pound sterling is good example of what was so great about having your currency in gold.

Critical Analysis of the India Sri Lanka Fta

INDIA – SRI LANKA BILATERAL FREE TRADE AGREEMENT: Critical Analysis INTERNATIONAL TRADE LAW PROJECT REPORT LLB 404 Submitted to: Asst. Professor MANISH SHARMA Submitted by: ADITYA VASHISTH 13510303809 (VIII Semester) May, 2013 Amity Law School, New Delhi TABLE OF CONTENTS 1. INTRODUCTION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 2. HISTORICAL OVERVIEW†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 3. CONCEPTUALIZATION OF THE ISFTA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 4. CHARACHTERESTICS OF THE ISFTA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10 5. ASSESSMENT OF TRADE UNDER THE ISFTA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 6. LOOKING BEYOND FTA: CEPA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 17 7. CONCLUSION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 8.BIBLIOGRAPHY†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 INTRODUCTION The growth of regional trade blocs has been one of the major developments in international relations in recent years. During the 1990s, regionalism was conceived as a developmental option in itself that would promote competitiveness of trade bloc members and help their fast integration into the international economy. As per the World Bank report on Global Economic Prospects (2005) the number of the Regional Trade Agreements (RTAs ) has more than quadrupled since 1990 rising to around 230 by late 2004 and the trade between RTA partners now constitutes nearly 40% of total global trade.Quoting, World Trade Organisation (WTO) this report estimates another 60 agreements at various stages of negotiations. The World Bank report points out that the boom in Regional Trade Agreements (RTAs) reflects changes in certain countries trade policy objectives, the changing perceptions of the multilateral liberalization process, and the reintegration into the global economy of countries in transition from socialism. Regional agreements vary widely, but all have the objective of reducing barriers to trade between member countries which implies discrimination against trade with other countries.At their simplest, these agreements merely remove tariffs on intra bloc trade in goods, but many go beyond that to cover non-tariff barriers and to extend liberalization to investment and other policies. At their deepest, they have the goa l of economic union and involve the construction of shared executive, judicial, and legislative institutions. [1] Among the seven member countries of the South Asian Association of Regional Cooperation (SAARC), India and Sri Lanka accounts for the largest bilateral trade flow in the region.Thanks to the India-Sri Lanka Free Trade Agreement (ISFTA) that was signed between the two countries in December 1998 and operationalized in March 2000. However, almost at the same time in 1993 the agreement on South Asian Preferential Trading Arrangement (SAPTA) was signed among the seven member countries of SAARC. The objective was to promote and sustain trade and economic cooperation within the SAARC region through the exchange of concessions. This pushed the agenda for promoting bilateral trade between India and Sri Lanka to the background.However, the negotiations under SAPTA progressed at a very slow pace and became a time consuming process. The failure of SAPTA brought about the desire for a free trade agreement with India to the forefront from the Sri Lankan side. It was felt that such an agreement would give the much needed market access to the exporters from Sri Lanka. India was also keen to acquire the South Asian markets and expressed its willingness to consider bilateral free trade agreements with its South Asian neighbours.Accordingly, the India-Sri Lanka Free Trade Agreement (ISFTA) was signed between the two countries on 28 December, 1998 in New Delhi, India and came into operation on 1 March, 2000. India and Sri Lanka look upon regional/bilateral FTAs as a complement to the multilateral trading system by ensuring the compatibility of the FTAs with the rules laid down by the WTO. Also, both countries are members of the South Asian Association for Regional Co-operation (SAARC) which envisaged the formation of a South Asian Free Trading Arrangement (SAFTA) through successive rounds of tariff concessions between member countries.However, the efforts of member co untries have not yielded the expected results. [2] A Joint Study Group with representatives from both countries was set up which submitted its report in October 2003 that paved the way for negotiations on the Comprehensive Economic Partnership Agreement (CEPA). In the present context of Indo-Sri Lanka trade, the services agreement aims to remove/reduce market access and national treatment barriers, and promote co-operation between the services sectors of the two countries. [3] HISTORICAL OVERVIEW Trade relations between Sri Lanka and India date back to pre-colonial times.Under British rule, trade between the two countries was geared to fulfill the needs of the colonial power in the occupying territory, and was dominated by imports and exports in food-related items. After independence in 1947 and 1948 for India and Sri Lanka respectively, both national governments adopted inward-looking policies centered on the concepts of â€Å"self-reliance† and import substitution industria lization. Consequentially, a very modest level of trading took place between what became two virtually closed economies. In 1977, Sri Lanka became the first South Asian country to liberalize its economy, opening it up to the rest of the world.However, substandard products from India – the result of excessive inward-looking policies were not competitive against the goods from East Asia that flooded the Sri Lankan market. With partial liberalization of the Indian economy during the 1980s and further liberalization in 1991, trade began to pick up, particularly in favour of India. Between 1993 and 1996, there was a doubling of two-way trade, and between 1990 and 1996 imports of Indian goods to Sri Lanka grew by 556 per cent. In 1995, India replaced Japan as the largest source of imports to Sri Lanka, accounting for 8-9 per cent of total imports.For Sri Lanka, it became evident that trade with the SAARC region ultimately amounted to trade with India owing to the sheer size of the latter’s rapidly emerging economy and expanding middle-class population. Hence, the perceived mutual benefits of free trade between the two countries became increasingly clear. Sri Lanka’s private sector – frustrated by the slow progress of the SAPTA[4] to boost regional trade – pressurized the government to enter into a free trade agreement (FTA) with the Indian government that would increase market access for Sri Lankan exporters. [5]Birth of the ISFTA (India – Sri Lanka Free Trade Agreement)[6] Politics was ultimately the major player in the move towards free trade. Sri Lanka entertained the hope of clearing away the political tensions of the 1980s and engaging India’s assistance once more in solving the North/East conflict of the country. India was propelled by an immediate need to acquire South Asian markets following economic sanctions imposed on the country for the nuclear tests conducted in May 1998. Among other factors, these politi cal forces led to the signing of the Indo-Sri Lanka Bilateral Free Trade Agreement (ILBFTA) on December 28, 1998.The Commerce Secretary of India and Finance Secretary of Sri Lanka exchanged letters that operationalise the India-Sri Lanka Free Trade Agreement (ISFTA) between India and Sri Lanka signed in New Delhi on 28 December 1998 by H. E. the President of Sri Lanka and the Honorable Prime Minister of India with effect from 1st March 2000. [7] The economic objectives of Sri Lanka were to increase Trade ties with South Asia’s dominant economic power, to induce the transformation of Sri Lanka’s exports from low-value added goods to high value-added goods aimed at niche markets, and to provide low-income groups with cheap consumer imports from India.Moreover, Sri Lanka hoped to attract more export-oriented foreign direct investment (FDI) from third countries by promoting itself as an effective entry point into the Indian market. With the Board of Investment (BOI) being made a â€Å"one stop shop† in the early 1990s, Sri Lanka has long been a relatively appealing location for foreign investors compared to its more bureaucratized South Asian neighbours. [8] Thus, the agreement with effect from 1st March 2000, aimed to provide duty free as well as duty preference access for the goods manufactured in the two countries.Both the countries had listed products for immediate duty free entry into each other's territories. India having agreed to phase out its tariffs on a large number of items within a period of three years. Sri Lanka, likewise to do so in eight years. Both the countries had drawn up ‘Negative Lists’ in respect of which no duty concessions will apply. These Lists would include items on which protection to local industry had been considered essential. Both the countries intended to reduce the items in the Negative List through periodic consultations. [9] The Agreement sets out the ‘Rules of Origin’ criteria fo r eligibility for preferential access.Products having domestic value addition of 35% will qualify for preferential market access. Sri Lanka’s exports with a domestic value addition content of 25% will also qualify for entry to the Indian market if they have a minimum of 10% Indian content. [10] CONCEPTUALIZATION OF THE ISFTA The conceptualization phase of the ISFTA occurred between December 1998 and March 2000, and was based on several previous studies and recommendations. [11] The agreement was intended to supersede the existing economic partnership under the SAARC, viz. , SAPTA. Bilateral free trade greements are traditionally formulated using the â€Å"positive list† approach, whereby each participating country catalogues the individual commodities for which it would grant preferences to the other. Nonetheless, owing to the time-consuming nature of such a method, the ISFTA was formulated on the â€Å"negative list† approach; each country extending concessions / preferences to all commodities except those indicated in its â€Å"negative† list, namely items of a sensitive nature with regard to protecting national interests. The two countries agreed for preferential treatment on 5112 tariff lines (by 6-digit HS Code).An 8-year time table was devised for phasing out tariffs. Non-tariff barriers, such as Indian State taxes and customs- level procedures (e. g. , landing tax), were to be gradually removed as well. [12] Taking into account the asymmetry between the two countries, Sri Lanka was accorded special and differential treatment; the immediate duty- free list (319 items) and 50 per cent preferential duty list (889 items) were considerably smaller than those offered by India (1,351 items and 2,799 items, respectively), while the Sri Lankan negative list (1,180 items) was considerably larger than India’s (196 items).Among others, the agricultural sector of Sri Lanka was not subject to liberalization and was included in the ne gative list. The majority of Indian exports were initially granted only a 35 per cent duty concession with an 8-year tariff reduction period, while Sri Lankan exports were granted a 50 per cent concession with a 3-year tariff reduction period. Moreover, Sri Lanka was granted the freedom to reduce its negative list at her comfort level, instead of a pre-determined formula. Rules of origin (ROO) criteria were also relaxed in Sri Lanka’s favour.Preferential treatment requires a minimum of 35 per cent domestic value addition, or 25 per cent when Indian inputs comprise 10 per cent. In addition, although the agreement does not feature revenue compensation, Sri Lanka maintained that tariff concessions would not be granted for high-duty imports such as automobiles; import duties are an important source of government revenue and comprise 2 per cent of Sri Lankan GDP. Some aspects of the agreement were deferred for subsequent negotiation; these include the number of entry ports, Indian state-level taxes, customs procedures, and the specifics of phasing out non-tariff barriers. 13] The agreement included mechanisms for review and consultation, as well as settlement of disputes above and beyond the protection afforded to both countries under the safeguards clause. CHARACHTERESTICS OF THE ISFTA The ILFTA between India and Sri Lanka is a landmark in the bilateral relations between the two countries. It is expected to bring about enhanced trade between the two countries as well as to expanded and diversified cooperation in a range of economic spheres, including investments. This is the first such Agreement in the South Asian region which could serve as a model for similar bilateral Agreements in the region.It has an institutional framework in the form of the Indo-Lanka Joint Commission, a dispute settlement mechanism, and so forth. Its significance further lies in that it can be implemented more expeditiously and also more flexibly, unlike the protracted nature of neg otiations generally associated with multilateral arrangements. [14] These following features characterize Indo-Sri Lanka Free Trade Agreement: Elimination of Tariffs: 1. By India †¢ Zero duty on items upon entering into force of the Agreement – the list is to be finalized within 60 days of signing of the Agreement. E): 1351 products. †¢ Concessions on Textile items restricted to 25% on Chapters 51-56, 58-60, & 63. Four Chapters under the Textile sector retained in the negative list (Chapters 50, 57, 61 and 62) (TEX): 528 products. †¢ Garments covering Chapters 61&62 while remaining in the negative list, will be given 50% tariff concessions on a fixed basis, subject to an annual restriction of eight million pieces, of which six million shall be extended the concession only if made of Indian fabric, provided that no category of garments shall exceed one and half million ieces per annum (GAM). †¢ 50% tariff preference on five tea items, subject to a quota of 15 million Kg. Per year (TEA): 5 products. †¢ 50% margin of preference upon coming into force of this Agreement on all items, except for those on the negative list. To be phased out to zero duty in three years (IR): 2799 products. †¢ A negative list of 429 items to be retained (D I): 429 products 2. By Sri Lanka †¢ Zero duty on about 319 items upon entering into force of the Agreement (F I): 319 products. Phasing out of tariffs on items with 50% margin of preference on 889 products upon coming into force of the Agreement, with up to 70% at the end of the 1st year, up to 90% at the end of the 2nd year and 100% at the end of 3rd year (F II): 889 products. †¢ For the remaining items, (except for those on the negative list), which is the Residual List, preference would be not less than 35% before the expiry of three years, 70% before the expiry of six years and 100% before the expiry of eighth year. (SLR): 2724 products. A negative list of 1180 items (DII): 1180 prod ucts. OBJECTIVES: The Objectives adopted are: †¢ Analyze how much of the bilateral trade – both imports and exports are covered under different categories of concessions offered and received by India and Sri Lanka over the past five years, viz. 1996-97 to 2000-01. †¢ To analyze, in terms of 21 HS Sections, the distribution of trade under each category. †¢ To analyze the top products in terms of 8-digit HS Classification for India and 6-digit classification for Sri Lanka under each category to identify the success stories. To ascertain the trade potential between the two countries and assess the same in terms of products offered concessions under different categories. This exercise is based on the last year of data availability. The concessions offered by the Contracting States have been at 6-digit HS classification. In order to attain the aforementioned objectives, the bilateral trade data[15] is analyzed at the highest level of desegregation for India, viz. 8- digit HS classification by disaggregating all concessions at 6-digit classification to 8-digit levels. ASSESSMENT OF TRADE UNDER THE ISFTAThe India Sri Lanka FTA was signed in 1998 and became operational in March 2000. Mutual phased tariff concessions on different products on 6 digit Harmonized Classification (HS Code) basis have been granted by both the partners. Each side is having its negative lists[16] (no concessions), positive list (immediate full concessions) and a residual list5 (phased tariff reductions) as per the framework of ISLFTA. The preferential trade under the FTA is governed by Rules of Origin, which specify the criteria for a product to qualify for tariff concessions from the importing member.After signing of ISFTA, trade between India and Sri Lanka has increased manifold. India‘s import from Sri Lanka was US$ 45 million (0. 10% of total imports) in 1999, which increased to US$ 499 million (0. 29%) in 2006; India‘s export to Sri Lanka was US$ 482 milli on (1. 4% of total exports), which became US$ 2110 (1. 74%) in 2006. Similarly, Sri Lanka‘s import form India in 1998 was 538 million (9. 49%), which increased to US$ 1804 million (18. 46% rank 1) in 2006. Sri Lanka‘s exports to India has grown from US$ 35 million (0. 5%) in 1998 to US$ 490 million (7. 26%, rank 3) in the year 2006. In this way India became the major trading partner for Sri Lanka after the signing of the Agreement. The number of Sri Lanka‘s export items to India increased from 505 in 1996 to 1,062 in 2006 items on 6 digits of HS classification. There is a visible shift in Sri Lanka‘s exports from agricultural products to manufacturing goods The major products exported by Sri Lanka to India in 2006 included – Fats and Oils (22. 3%), Copper and Articles of Copper (8. 6%), Electrical Machinery (8. %) and Spices, Coffee, Tea (6. 2%). Similarly, India exported Mineral Fuel, Oil (22. 44%), Vehicles (18. 08%), Iron and Steel (4. 54%), Machine ry, Reactors, Boilers (4. 22%) and Pharmaceutical Products (4. 13%) to Sri Lanka. There has been an increase in total share of import of Sri Lankan goods from 0. 10% in 1999 to 0. 29% in 2006. The import from Sri Lanka has also increased in the items on the residual list from 0. 2% in 1996 to 0. 47% in 2006. It is noteworthy that there has been an increase in the imports even in the negative list items from 0. % in 2001 to 1. 19 % in 2006. This could be mainly due to the increased awareness to partners market, smoothening of customs issues and improved access to ports of entry due to the increased engagement of partner countries on products having preferential tariffs on residual list, the so called border effects. By 2008, the ISFTA entered into full force. Both governments were pleased with the results achieved through the Free Trade Agreement and proclaim that it had facilitated the expansion of two-way trade between India and Sri Lanka.India, which was once the second largest ex porter to Sri Lanka pre-ISLFTA, has now become the island‘s largest source of imports. Meanwhile India has become the third largest export destination for Sri Lankan products (after the United States of America and the European Union). The argument is that, given the asymmetrical proportions of the economies of the two countries, if not for the ISLFTA, Sri Lankan exports would not have been able to achieve their current level of market penetration. The bilateral import-export ratio that had been 10. :1 in 2000 had improved in Sri Lanka‘s favour to 5. 3:1 by 2007. According to the then Indian High Commissioner to Colombo, the ratio may have been as skewed as 40:1 (in India‘s advantage, of course) had the ISLFTA not been in operation. [17] Over the ten years in which the ISLFTA has been in operation, Indian foreign direct investment in Sri Lanka has also expanded exponentially, most recently in telecommunications (Bharti Airtel) and glass-manufacturing (Piramal Glass ), and biscuits and sweets (Britannia).In 2009, India was the island‘s third largest foreign investor (after China and the United Kingdom) with inflows of US$78 million and largely attracted to the telecommunications, energy and power sectors (Central Bank of Sri Lanka 2010: 114). The Institute of Policy Studies (2008: 47-48) has estimated that Indian foreign direct investment has expanded from a cumulative total of LKR165 million in 1998 (1. 3 percent of total FDI) to LKR19. 5 billion in 2005 (8. 3 percent of total FDI). However, the causal connection between the commencement of the ISLFTA and the spiral in inward foreign direct nvestment from India is asserted rather than demonstrated, and may have more to do with aggressive Indian investment strategies since that country‘s economic boom, than the existence of the Free Trade Agreement. [18] IMPACT OF THE FTA Despite its importance in the South Asian region, not many empirical studies have been conducted to access the i mpact of ISFTA. One study that attempted to analyze the impact of this FTA was conducted by Kelegema and Mukherjee in February 2007[19]. Their study is based on the bilateral trade flows under different categories of products.Sector wise imports and exports figures are compared before and after the FTA. They have concluded that the two countries have displayed political will to forge ahead towards economic integration and the considerable size disparity between the two economies does not hinder bilateral free trade when appropriate special and differential treatment is accorded to the smaller country. Some new goods from Sri Lanka have found entry into the Indian market following the exchange of preferences.Finally, they have concluded that the economic benefits of free trade can and do override political problems. [20] Another report on evaluating economic performance of the FTA is ? Joint Study Group on India –Sri Lanka Comprehensive Economic Partnership Agreement constitut ed by the partner Governments (JSG report, 2003)[21]. JSG (2003) has concluded that ISLFTA promoted a 48% increase in bilateral trade between 2001 and 2002, and at present India is the largest source of imports into Sri Lanka, accounting for 14% of Sri Lanka‘s global imports.India is the fifth largest export destination for Sri Lankan goods accounting for 3. 6% of Sri Lanka‘s global exports. [22] Based on the success of ISFTA, the JSG has recommended that the two countries enter into a Comprehensive Economic Partnership Agreement (CEPA) covering trade in services and investment and to build upon the ISLFTA by deepening and widening the coverage and binding of trade in goods. LOOKING BEYOND FTA: CEPA The decision to work towards a Comprehensive Economic Partnership Agreement (CEPA) was taken in June 2002.During the visit of the Sri Lankan Prime Minister to India in June 2002, the Prime Ministers of India and Sri Lanka discussed the profound changes in the international ec onomic and political arena that have been generated by the process of globalization, on the one hand, and emergence of closer regional economic associations, on the other. They agreed on the need to widen the ambit of the ISLFTA to go beyond trade in goods to include services and to facilitate greater investment flow between the two countries.Accordingly, a Joint Study Group (JSG) was set up to make recommendations on how to take the two economies beyond trade towards greater integration and to impart renewed impetus and synergy to the bilateral economic interaction, through the conclusion of a Comprehensive Economic Partnership Agreement (CEPA). [23] Both sides have committed to an agreement consistent with the rules of the WTO. While the numerous shortcomings of the existing FTA must be remedied, its evident achievements can be built upon with relative ease to formulate the new agreement.The required institutional support is already in place with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Ceylon Chamber Commerce, which function as the focal points for economic cooperation, as well as the Indo-Lanka Joint Commission and the FTA’s Working Group on Customs. The first round of technical-level negotiations (TLNs) on the CEPA commenced in February 2005, somewhat delayed after changes in government in both countries. Seven rounds of negotiations have been completed by 2006. The CEPA is to cover trade in goods and services, investment liberalization, and economic cooperation.The negotiations on goods focus primarily on reducing the ISFTA’s negative lists, relaxing ROO criteria, signing mutual recognition agreements (MRAs) on product standards and certification procedures, and concluding the Memorandum of Understanding (MOU) on consumer protection and legal metrology. Particular attention will be given to developing the supply side of the Sri Lankan economy. The CEPA will be notified under the GATT’s Article XXIV[2 4], which covers substantial trade instead of under the â€Å"Enabling Clause† which provides more flexibility to etermine the trade coverage between developing countries. In a nutshell, the main objectives of the CEPA are to: 1. Deepen existing preferential trade between the two countries 2. Reduce the negative lists of the ILBFTA 3. Relax ROO criteria 4. Liberalize the services sector beyond the coverage of the General Agreement on Trade in Services (GATS) 5. Liberalize investment 6. Facilitate economic cooperation as an impetus for liberalization of the services and investment sectors, with the Indian Line of Credit to play a crucial role. [25] CONCLUSIONThe operationalisation of the ISFTA in 2000 was an important step taken by the two countries to harness the economic complementarities between them. As expected, post  ­ISFTA bilateral trade performance between India and Sri Lanka indicates that exports and imports have grown considerably, accompanied by significant prod uct diversification. Despite the fact that the ISFTA was confined to trade in goods, increases in trade links between India and Sri Lanka have been further triggered by large investment flows as well as services integration between two countries over time.Nevertheless, investment flows have been mostly one sided as would be expected, flowing from India to Sri Lanka, where the bulk of Indian investment in manufacturing in the post  ­ ISFTA phase has come from Indian investors keen to take advantage of preferential duty access to the Indian market in key sectors such as Vanaspathi and copper. Nevertheless, the potential for greater linkages in investment and services has been fairly obvious based on recent performance, and in part has encouraged both countries to further deepen integration in these areas under the CEPA framework.It is evident from detailed analysis of post ­ISFTA trade flows that Sri Lanka’s exports to India have expanded significantly. However, it is also clear that the overwhelming share of the increase has originated in a few commodities, raising concerns about the sustainability of the growth momentum in the long term. The bulk of the exports have been concentrated in two items, namely the vegetable fats and oils and copper and articles of copper, which are not considered to be sustainable in the long run.It is by resolving these issues that the movement towards CEPA could be put on fast track to make it a reality. CEPA has the potential to break new ground in South Asia’s forward movement towards economic prosperity. BIBLIOGRAPHY 1. Mukherjee, I. N. , T. Jayawardena and S. Kelegama (2002), ‘India-Sri Lanka Free Trade Agreement: An Assessment of Potential and Impact’, SANEI completed study (www. saneinetwork. net ). 2. The Graduate Institute Geneva, HEID Working Paper No: 04/2010: An Econometric Analysis of the India-Sri Lanka Free Trade Agreement. 3. Kelegama, S. nd Mukherji I. N. (2007), India-Sri Lanka Bilat eral Free Trade Agreement: Six Years Performance and Beyond, RIS DP# 119, February 2007, Research and Information System for Developing Countries, New Delhi. 4. JSG (2003), India-Sri Lanka Comprehensive Economic Partnership Agreement, Joint Study Group, October 2003, http://www. ips. lk/publications/etc/cepa_reprot/islcepa. pdf 5. Jayawardena, L. et al. (1993), Indo-Sri Lanka Economic Cooperation: Facilitating Trade Expansion through a Reciprocal Preference Scheme, The United Nations University, WIDER, Helsinki. 6. An Act of Faith? † ten years of the India-Sri Lanka FTA, Law & Society Trust, Sri Lanka, March 2010 (PDF File) 7. â€Å"India – Sri Lanka FTA: Lessons for SAFTA†, CUTS International, Dushni Weerakoon, Jayanthi Thennakoon. (PDF File) 8. Panchamukhi, V. R. et al. (1992), Indo-Sri Lanka Economic Cooperation: An Operational Programme, the United Nations University, WIDER, Helsinki. 9. Taneja, N. , A. Mukherjee, S. Jayanetti, and T. Jayawardena (2004), â₠¬ËœIndo-Sri Lanka Trade in Services: FTA II and Beyond’, SANEI completed study (www. saneinetwork. net ). ———————– 1] An Econometric Analysis of India-Sri Lanka Free Trade Agreement, HEID Working Paper No: 04/2010 [2] See Shome (2001); Harilal and Joseph (1999); Taneja (2001). [3] Several Free Trade Agreements related to goods trade are more of Preferential Trade Agreements rather than Free Trade Agreements. In the case of Indo-Sri Lanka, the terms CEPA and FTA are interchangeable. [4] The SAARC Preferential Trading Agreement (SAPTA) was signed in April 1993 and came into operation in December 1995. [5] RIS-DP # 119: India-Sri Lanka Bilateral Free trade Agreement, Saman Kelegama & Indra Nath Mukherjee. 6] Available on the Board of Investment of Sri Lanka website, http://www. boi. lk [7] Supra, note 5. [8] Supra note 5. [9] Indo-Sri Lanka FTA: An Assessment of Potential and Impact, Saman Kelegama & Indra Nath Mukherjee. [ 10] Supra note 9. [11] See Jayawardena, L. et al. (1993) and Panchamukhi, V. R. et al. (1992). [12] Supra note 5. [13] India had committed to the WTO that it would remove non-tariff barriers by 2004. [14] Supra note 9. [15] The data has been obtained from the Ministry of Commerce (India) electronic database over the period of 1996-97 to 2000-01. 16] Items, which are considered sensitive to the domestic industry by each partner to FTA, are included in the respective negative list. The items in negative list of Sri Lanka are not entitled for any duty concessions for imports from India. The same rule applies in case of India‘s negative list for Sri Lan kan products. [17] â€Å"An Act of Faith? † ten years of the India-Sri Lanka FTA, Law & Society Trust, Sri Lanka, March 2010. [18] Supra note 17. [19] Supra note 9. [20] Supra note 1. [21] Joint Study Group Report on India-Sri Lanka Comprehensive Economic Partnership Agreement (JSG, 2003), can be found at : http://www. ps. l k/news/newsarchive/2003/20102003_islcepa_final/islcepa. pdf#search='India%20Sri%20Lanka%20Trade%20Study' [22] Supra note 1. [23] Supra note 21. [24] GATT– General Agreement on Tariffs and Trade. [25] The Indian Line of Credit is a credit facility granted by India to other developing countries to purchase goods and services from India, usually with a long re-payment period. Since January 2001, Sri Lanka has borrowed a total of US $281 million for the purchase of food, petroleum, buses, roofing sheets, and consulting services.

Animism

The term â€Å"animism† is defined as the belief of a life-force existing within non-human forms. In other words, according the this idea, non-human forms such as thunder, rocks and trees are possessed by spirits and souls. The term, first developed as â€Å"animismus† by chemist/physicist Georg Ernst Stahl in 1832, defined as the â€Å"doctrine that animal life is produced by an immaterial soul†, was reintroduced in 1871 by English anthropologist Sir Edward Burnett Taylor to be defined as the â€Å"theory of the universal animation of nature†. The mass majority of animistic belief systems holds that the soul within the non-human form will be able to survive physical death. It is believed in some systems that the soul must journey to pass through to an easier world. In other systems, it is said that the soul would remain on earth as a ghost. There are also situations where it would return to earth in order to avenge its death. If murdered, the spirit would either assist in discovering the identity of its murderer or wreak vengeance for itself. A widespread belief of those who die a violent death is that the soul would become a dangerous spirit and endanger the lives of those who approach the haunted area of the its death. In literature, animism is most often used in mythology and folklore. The myths and folklore generally contain a magical or spiritual sense to the story. An example would be of the tale of the Pontianak. The Pontianak is a type of vampire in Malay folklore and Indonesian mythology. It is said that a woman who has died during childbirth becomes undead, seeking revenge and terrorizes villages. The use of animism is applied because the Pontianak is not human and has a spirit within. Many Urarina myths apply animism into their myths by portraying plants, inanimate objects, and animals as personal beings. An example would be of a Urarina deluge-myth, a myth of a great flood sent by a deity to destroy civilization as a punishment. It is said that a man had saved himself from the flood by climbing a tree. The man's wife had transformed into a termites' nest and was clinging onto the tree and their two sons had transformed into birds. Though the man's wife and sons are not in their human bodies anymore, their souls are still intact within their new form. Therefore, this myth applies the use of animism.

MOZAMBIQUE essays

MOZAMBIQUE essays Mozambique is a country located on the southeast coast of Africa. It covers 308,642 square miles and has a population of about sixteen million. Maputo is the capitol, largest city, and chief port. Mozambique was governed by Portugal from the early 1500's until 1975 when it became independent after a ten year struggle against Portuguese Mozambique is now controlled by Frelimo (the front for the liberation of Mozambique) the nations only political party. The president of Frelimo is also the nations president. Mozambiques highest governmental power lies with the parties central committee which is made up of fifteen members appointed by Frelimo. This party appoints the two hundred and ten members of the peoples assembly,(Mozambiques legislative body).This group meets twice a year. It's permanent committee handles legislative matters between Most Mozambicans are black Africans. Other groups such as Arabs, Europeans, and Pakistanis make up less than one percent of the population. Most blacks belong to groups that speak one of the Bantu languages. The largest of these groups, the Makua-Lomwe, accounts for forty percent of the population. The countries official language is Portuguese but few blacks can speak it. Some Mozambicans speak English when conducting business Most Mozambicans are farmers with extremely simple techniques although farmers in some areas of the country use modern techniques. Fifty five percent of the people of Mozambique practice traditional African religions. Of this large group, many are animists who believe that everything in nature has a soul. Others worship spirits of their ancestors. About thirty percent of the population is Christian, mostly Roman Catholic. Only about twenty five percent of Mozambiques people fifteen or older ...

Civil Rights and Affirmative Action Laws †African American Studies Essay

Civil Rights and Affirmative Action Laws – African American Studies Essay Free Online Research Papers Affirmative action is a collection of procedures that were designed to achieve fair employment practices in the workplace. In general, to accomplish this objective, agencies responsible for the enforcement of the laws related to the affirmative action urge employers to hire particular groups of people who were discriminated against in the past. In general there are two strategies available for employers to follow in order to remain within the realm of the Civil Rights Act of 1964. Since the Civil Rights Act of 1964 clearly prohibits employers to base their hiring decisions on race, sex or age, employers should disregard these characteristics when hiring. However, the Civil Rights Act of 1964 also urges employers to hire certain group of people who were discriminated against in the past. This means that the Civil Rights Act of 1964, paradoxically, forces employers to made their hiring decisions based on race, sex or age. The inherent conflict between these two strategies has been causing problems in the society while employers try to abide with the requirements of the Civil Rights Act of 1964. The moral justification for the first strategy is self-evident whereas for the second strategy one needs explanation. According to the first strategy, no one should be denied a job that he or she can perform successfully regardless of his or her race, sex or age (Walker and Epstein, 2004). The justifying argument for the second strategy is the following. If being a woman or a African American had been prevented one to have the life standards of a white male in the past, for the purpose of the just society hiring (or awarding) a white female or an African-American person (with a contract) by taking the gender or ethnicity as well as other factors into consideration becomes a morally correct decision. Even though, this correcting past mistakes in the present time seems morally appealing, it has sparked the presen t â€Å"reverse discrimination† debate. In sum, affirmative action (also known as reverse or positive discrimination) has spawned many legal battles in America. Cases include the quota-driven promotion of minorities and the firing of white employees so as to comply with the Act. In a landmark decision, the Supreme Court ruled in June 2003 that race could be a criterion in university admissions (and by extension in companies and the armed forces), as long as it is not â€Å"a decisive factor†. This means that decision can be applied to workplace. The recent proposals in the U.S. Congress advocating banning affirmative action across the nation have triggered a variety of mixed responses, proving that the debates over racial preferences and opportunity is far from over. Therefore, the employers as the main group of the stakeholders in the affirmative action domain should have comprehensive procedures at hand to sail through smoothly. Such procedures require a management strategy consisting of four fundamental actions (Fisher, Schoenfeldt, and Shaw, 1999): The management should frequently conduct an internal auditing to examine the status of minority, female and disabled workers. Moreover, organizations should develop formal and written policies concerning equal employment opportunity. Organizations should base their decisions about hiring, firing, promoting or providing benefits to their employees on objective and job-related criteria. For example, experts trained in performance-rating techniques should assess job performance in organizations. Organizations should develop grievance procedures to minimize the involvements of the agencies responsible for the enforcement of the Civil Rights Act of 1964 into their employment practices. In case of the evidence for discrimination exists, the organizations should develop policies to correct the situation. Being a foreigner who is not considered as a minority and whose forefathers had not been discriminated against, the equal opportunity employment consequence of Civil Rights Act of 1964 will affect my employment situation positively through its first strategy. However, because of the second strategy of Civil Rights Act of 1964, I might end up disqualified for a job because of these very characteristics due to the possibility that an African-American female applying for the same job. However, this second possibility that would affect my future employment situation negatively does not prevent me from arguing that the equal opportunity laws should stay as it is because the discriminative potentials in the society have not been eliminated fully. Reference(s) Epstein, L. and Thomas G. Walker. Rights, Liberties and Justice. CQ Press Fisher Cynthia, Lyle F. Schoenfeldt, and James B. Shaw (1999). Human Resource Management. Houghton Mifflin Company. Civil Rights Act 1964, Retrieved December 2, 2004 from http://usinfo.state.gov/usa/infousa/laws/majorlaw/civilr19.htm Research Papers on Civil Rights and Affirmative Action Laws - African American Studies Essay19 Century Society: A Deeply Divided EraCapital PunishmentPETSTEL analysis of IndiaRelationship between Media Coverage and Social andTwilight of the UAWWhere Wild and West MeetQuebec and CanadaDefinition of Export QuotasHip-Hop is ArtOpen Architechture a white paper

Inventory control Assignment Example | Topics and Well Written Essays - 1250 words

Inventory control - Assignment Example the three wines, Safety Stock cost makes up for the smallest portion of the total cost while procurement costs and Carrying cost make up for the largest portion. The procurement cost is highest for wine 2A-b and lowest for wine 2A-a. The Carrying cost is highest for wine 2A-b and lowest for wine 2A-a.The Safety stock cost is highest for wine 2A-c and lowest for wine 2A-b.The stock-out cost is highest for wine 2A-c and lowest for wine 2A-b. The Total cost is highest for wine 2A-c and lowest for wine 2A-a. 2. Ordering the mean demand is not a wise move because that may not be the most feasible quantity. It may be more or less than the EOQ and therefore lead to higher costs. For example, in the mean demand for the three wines is 256, 180 and 20 while the EOQ has different values. Orders are placed in all the months apart from April, June and August. In the months orders are placed, the orders are of 193 bottles except in December when the order is for 256 bottles. The Total cost is $1,683.75. 2. Ordering costs are the same for all the three alternatives. Carrying costs are highest under the 2% discount alternative while they are lowest under the 1% discount alternative. The 2% alternative also has the highest total cost while the 1% has the lowest total cost. Atkinsons, C., 2005. Advanced Economic Order Quantity. Inventory Management Review, (Online) 2 November. Available at (Accessed 7 June

International Relations politics Essay Example | Topics and Well Written Essays - 1750 words

International Relations politics - Essay Example My purpose is only to highlight the importance of the existence of these schools of thoughts in the field of IR as a disciple and science. The last part of this paper, I address the purpose of IR and conclude that the IR as a discipline attempts to depict the picture of world affairs. I end this paper with a brief conclusion. The study of IR as a discipline significantly evolved after the First World War. However, many scholars and theorists use historical data for their analysis of IR.1 In the centuries before the First World War, one can perceive IR more as a combination of several disciplines such as Law, History and Philosophy rather than discipline on itself (Hollis & Smith 1990: p. 16). Some prominent historical philosophers who are often referred to in IR are Plato, Paine and Hobbes. These historical philosophers each addressed the study of IR in their own way. However, it was in the twentieth-century that the field of IR significantly evolved as many scholars diversified. The contribution of American and British scholars was significant and thus, American and British scholars dominated the field of IR for decades. ... f thoughts or whatever one prefers to name it, that one can identify in the field of IR were notable developed as scholars provided more empirical and epistemological data to the field of IR. However, this intensified the debate between these schools of thoughts and opened the door for new debates between scholars of IR. I agree with Walt that for the case of contemporary IR, the most crucial question is which school of thought sheds the most light on IR. Although IR might be perceived as a discipline or a science on itself, it is obvious that the nature of IR can be traced back to time of the Ancient Greek with the work of Thucydides and Plato and IR developed throughout the course of history. Several theories in International Relations In the nineteenth and especially in the twentieth century, the development of IR as a social science discipline has led to many theories that attempt to provide a theoretical and empirical framework to analyze the field of IR. Each of these schools of thoughts that were developed by theorists and scholars provide basic principles on which each framework is based upon. It is crucial to understand the basic principles of some of these schools of thoughts in order to understand the complexity of the study of IR. For this reason, in the following sector I will briefly discuss the basic principles of Realism, Liberalism and IO. Realism One of the most imperative schools of thought in the field of IR is Realism. Within this school of thought, one can identify several strands of realism such as classical realism, liberal realism and neo-realism.2 Among scholars and social scientist, Realism is perceived as the leading theory in the field of IR. Gilpin even argues that one should perceive realism as "a philosophical disposition"

The current technology that we carry with us all the time is reshaping Essay

The current technology that we carry with us all the time is reshaping our personality and in the future it seems to endangerin - Essay Example Nonetheless, despite the positive effects of technology in society today, human beings have become slaves of technology, thus resulting in negative outcomes. Nonetheless, technology influences various aspects of human beings negatively, including shaping their personality, and this endangers the existence of the human race in future. According to a New York Times article written by Parker-Pope (WEB), technology has an ugly toll on human beings today. This mainly regards human personality, which has greatly been affected by technology in a detrimental manner. Today, there is the technological invention of high-speed internet, which most people use. There are different gadgets with fast-forward buttons, including many other types of technologies, which people use daily. Parker-Pope (WEB) therefore, argues that the use and dependence on this technology slowly shapes the personality of most human beings. According to Parker-Pope, â€Å"Some experts believe excessive use of the Internet, cellphones and other technologies can cause us to become more impatient, impulsive, forgetful and even more narcissistic† (WEB). ... Therefore, this makes life of people today resemble a chat room. Additionally, since most people spend most of their time with their devices and computers with internet, this has resulted in some people becoming addicted to the internet and to the cellphones and other gadgets, therefore, making technology to become like a drug. Technology has also led to the cutting-off of social interactions among people. People communicate more on their cellphones and through the internet, therefore, leading to less time of face-to-face interactions. More people spend time in chat rooms, and this is encouraged by the high efficiency of the internet and iPhones, as well as the anonymity of chat rooms (Parker-Pope WEB). In another article in the BBC News, by Coughlan (WEB), Coughlan argues that technology is presently ranked among some of the threats to human extinction. Humans develop technology; therefore, this might be a case of self-destruction, as observed by Lord Rees, who is a scientist, †Å"This is the first century in the world's history when the biggest threat is from humanity† (Coughlan WEB). Natural disasters, diseases, persecution, and environmental change might not lead to extinction of the human race, since humans have survived this throughout history. In addition, nuclear war might destroy a high number of lives, but some humans might survive. Nonetheless, the present era of technology has the highest capacity for destroying human existence in future. The major reason for this is the lack of control, which people exhibit in the development and use of technology. Therefore, the negative effects of technology are not controlled. People today have become more experimentative and have delved into areas that are unpredictable. For instance, experiments in machine

Post Olympic Effects on Hospitality Industry Essay Example for Free

Post Olympic Effects on Hospitality Industry Essay Aim: To identify the issues that the hospitality industry may be faced with  post Olympics 2012 and to recommend  strategies to overcome the reduction in the business to hospitality organisations. Objectives: 1. To study the opportunities in the hospitality industry during Olympic 2012 2. To evaluate the impact of post Olympics 2012 on hospitality industry. 3. To recommend the strategies to the hospitality industry to survive post Olympic downfall in business The London Olympics is spending a huge amount of money for the Olympic Games and for their facilities. Preparing for the Olympics, hospitality industry needs to consider the impact of tourists during the Olympics time and beyond. It involves the pre and post Olympic stays of the tourist. The hoteliers are creating a unique atmosphere and spending lots of money for the Olympics. Hospitality industry has challenges to recover all the money which they spend for Olympics, which depends on the strategies which they will use after post Olympics. The Olympic Game is now becoming the most important event in the calendars of sport tourism and is also acting as a catalyst for the growth of a tourism destination’s product. It is very important to examine the pre-games impact and contrasting them with post games results, researching the works of various authors on the same topics pulls up the threat of vast differences. It is very obvious that there is essential need for more rigorous and standardized industry method to reduce the differences to minimum. The reports of DCMS suggests that there is an inadequate attention and underestimation of importance is being paid to what could be the most important period of all that is the post Olympic period and there is also an overall lacking in understanding the behavior of Olympic tourists. It is very vital to evaluate the post games impact of Olympics on Hospitality as a great deal of money and time is invested into predicting the impacts of the games, the Games suffer from a lack of ex-post analysis. London 2012 will provide an opportunity for UK to generate extra revenue as sport tourism is now considered to be in the introduction phase to the tourism product lifecycle, London now has achieved the position which could help to maintain a unique competitive advantage through tailoring the product to the contemporary tourists. London 2012 Olymdspic Games Visit Britain’s aim’s to use cultural and sporting activities to improve the quality of life, support the pursuit of excellence, creative and leisure industries, and champion the tourism. It will also track progress, monitor and implement as follows: BHA will work towards a new tourism growth target for 2008-11, and later a further target for 2012-15, and monitor progress towards those targets. The Strategy will be to maximize the legacy through effective post-games marketing and make London and Britain â€Å"must see destinations’. DCMS, Visit Britain and Visit London published Winning in 2007 after consulting the local tourism agencies and tourism industry, Visit Britain (2011). Wining is the revised document emerged after consultation and its envisaged programmed will run until 2017. It was an enviable task to write a strategy that would embrace the whole of UK, yet accurate to make the most of the opportunity provided by the London 2012 games . The document also mentions more specific targets and aspirations, as in how through tourism extra revenue will be generated using London 2012 games. For example, it showcases an explicit objective that would help in reversing the decline in domestic overnight stays which explains lack of interests or attention on cultural tourism. Although they mentioned about new festivals, the desire to imitate Australia which achieved success by utilizing the 2000 games and contributed extra thirty percent through cultural activities in international tourist participation and the cultural Olympiad. Can these aims prove feasible/how realistic they can be? A strategy called Winning was published in the year 2007 which was supported by researchers and prominent economist from UK, who claim that the London 2012 Olympics can unveil an opportunity to UK to add ? 2. 1 billion additional revenue to the overall tourism benefits. The substantial economic bequest written is, there will be a dramatic increase in the number of tourist spending, which is merely supported or justified with the aid of their positive projection. The accent on estimated revenue by tourism as a vital monetary consequence of the event allows an appealing negation. The Tourism policy is also being marginalized in organizational structures and strategy scaffolds of broader Olympic development. Visit Britain and Visit London is forecasting that amid 50-70% of the net economic profit of organizing the games measures over 7-10 year period will amass through tourism. These forecasts are a result of â€Å"ex- ante† monetary collision analysis which is reputably unpredictable. (Kronbalatt, 2006) and (Crompton, 1995) indeed suggest vigilance when taking into account such tourism projection for Olympic profits. By developing three estimates of its most probable effects (Blake, 2005) accredited the vague economic results of the Olympic Games. The central case suggests that there can be an increase of 1. 5% to the UK’s tourism amid 2012 and 2016. However possible consequences can range amid a probable decrease by 4% or increase in 7%. To ascertain the correctness of these forecasts, the report also contains ways on how to observe the effects. The only facet that initiates concern is that being so close to the event, the UK had failed to have an initiates in the earlier part as Sydney did. Winning, a strategy which was published in 2007 is supported by suggestions from economists, researches and postulates that the 2012 games will provide them an opportunity to generate ? 2. 1 billion in additional tourism benefits (DCMS, 2007, p. 17). The main tangible economic legacy of the games will be an increase in the number of visitors spending is justified with the help of their optimistic projection. The emphasis on Tourism revenue as the key economic outcome of the games allows an interesting contradiction. Tourism policy has been marginalized both in the organizational structures and policy framework of wider Olympic planning. Visit Britain and Visit London is estimating that between 50-70% of the net economic benefits of staging the event measured over 7-10 year period will accrue through tourism. Such forecast are the outcome of â€Å"ex-ante† economic impact analyses which are notoriously unreliable (Crompton, 1995). Kornblatt (2006) certainly recommends caution when considering the tourism projections of â€Å"Olympic benefits†. These positions are reaffirmed by academic analyses. By developing three estimates of its likely effects (Blake, 2005) acknowledged the uncertain economic outcomes of the 2012 games. According to Blake’s â€Å"Central Case†, the most likely outcome is that there can be an increase in tourism to the UK of 1. 5% between 2012 and 2016. However, Blake also suggests that the effects could range between a reduction of 4% and an increase of 7%. To establish the accuracy of these forecasts, the report also includes measures on how to monitor the effects. The only aspect that initiates worries is that, being so close to the games, the UK does not almost have any initiatives similar to that of Sydney, where effects of longitudinal tourism were monitored by groups that began working well before the 2000 games and which included a strong representation from the academic community ( e. g. , see Faulkner et al. ,2001). To recommend the strategies to the hospitality industry to survive post Olympics downfall in business: According to a stark warning from the European Tour Operators Association issued for the start of British Tourism Week LONDON tourism is â€Å"running away† from the U. K. rather than toward it. The main concern was the shortage of availability of hotel space at â€Å"reasonable market rates† in London during Olympics period. ETOA’s Executive director, Tom Jenkins had said that the European tour operators are â€Å"most concerned that the U. K. in general is underperforming on the worldwide tourism market†, citing a 105% U. K. 10-year growth figure compared to 130% growth in European tourism and 195% worldwide. On the other hand along with raising problems with the taxation system and the complications and restrictions imposed with getting a U. K visa, Jenkins also highlighted â€Å"a core postulated that London will have bonanza year for business in 2012† as leading to overpricing and a potential pre- and post-Olympics â€Å"crater† in the hotel market. He also warned this Olympic effect could have much longer lasting implications. According to the research made by us we would recommend the following strategies for the issues: UK hoteliers should be able to position themselves for the London Olympics: Hoteliers need to consider the before and after impact of visitors coming for the Olympics or arranging the vacation holidays around the time of the event. They need to consider the impact of the event itself. It should be mainly focused in terms of occupancy and rate and most of the hotels should have sophisticated models in place to deal with these issues Smith and Stevenson (2009) . London hoteliers should incorporate Olympics related ideas into their packages: The hoteliers should use the occasion to create a unique atmosphere. It is important that all the UK hotels recognizes that it will have to step up to the plate and offer a world-class welcome to what could possibly be completely new inbound markets Gibson (2010). Improving customer service: People expect best service when they come to visit the country for the Olympics. In this situation many skilled workers are required for providing a good experience for the visitors. The hotels must employ sufficient staff, as well as well trained chef to work flexibly and must be able to cope up the pressure. They should employ people who will welcome the visitors in a helpful manner and in a professional way. They should also have good language skills as well as they must be aware of disability requirements and other cultural ideas, Red White and Blacks (2011). Need to increase accessibility: The Paralympics games are going to attract nearly 4,500 athletes, the tourism business must strive to provide reliable information about accessible facilities and must understand the need of the visitors mainly the disabled people. They should explore the possibility of the research of the effectiveness of disability awareness training in the tourism industry. They should also consider the disability training as a part of gold standard customer service work Improve skills and retention of the staff: For the last two years more than half of the managers do not have minimum management qualifications. There is a severe shortage of skilled chefs. The main backdrop of the hospitality industry is high rate of staff turnover which costs approximately ? 1 billion each year. The employers should check for the qualification reform while recruiting new staffs. The industry must check more for employee benefits as well to retain the employees Kirkup Major (2006) Bibliography: