Engineering Ethics of Titanic Sinking Essay

Utilitarianism Look at the Titanic When engineers design a product many things go in to the decision making process when it comes to selecting materials, design, and the manufacturing processes. One concern that has always been in the decision making process is trying to make sure the outcome will always be ethically good, although this isn’t always the case. Try as they might, no person is perfect, and accidents do happen. When engineering disasters happen there are many factors that may be involved, such as human factors, design flaws, extreme conditions, and materials failures. When these things do happen it is important to look at the ethical aspect of each part of the failure and try to analyze if any one person could be put at fault. One very famous and very disastrous engineering failure was when the â€Å"unsinkable Titanic† hit an iceberg and sank. The Titanic was a British ship originally conceived in 1907 to be a mail and passenger line to go from England to New York by the Harland and Wolff Irish Shipbuilding Company and The White Star Line to compete with the Lusitania and Mauritania which were the two biggest and fastest steamships at the time. When the Titanic was constructed weighed and astounding 46,000 tons, which was one and a half times heavier than the Lusitania and Mauritania. The Titanic was to be far more extravagant than its counterparts. It had luxurious accommodations for its first class passengers including on-board swimming pools, a gymnasium, bathrooms with stained glass windows and comfortable furniture, and even the styles of decor differed from cabin to cabin. The Titanic also had a great number of less glamorous rooms to accommodate middle class passengers, which is where they p lanned to make a lot of their profit. Although it was more luxurious, the Titanic was slightly slower than its competitors. The ship set sail on April 10, 1912 for its maiden voyage. It stopped at Cherbourg, France and Queenstown, Ireland to let on more passengers and mail  before setting off for its final destination around dusk of April 11. The next afternoon, reports of an ice in steamship lanes were heard over the radio, but this was not unordinary for the time of year. As time went on more detailed warnings were being received and it became apparent that an ice field lay in the path of the Titanic. The ship tried to divert its path twice to miss the ice field, but on the night of April 14, lookouts spotted and iceberg in the immediate path of the Titanic. The ship tried to reverse directions when the warning came but it was too late. The Titanic struck an iceberg estimated to be six times more massive than it. This caused the hull, which had become less ductile due to the freezing water temperatures, to buckle allowing vast amounts of water to fill the ship. The Titanic was constructed with 16 wate rtight compartments, and four would be able to flood without incident, but this collision caused six of the compartments to flood. In less than three hours the massive shia form of ethics in which the aim of action should be to create the largest possible p carrying more than 2,200 people sank in below zero water. Only 705 passengers and crew survived and were picked up by the liner Carpathia the next morning. To fully understand this disaster and its possible causes and alternate outcomes it is important to look at the possible causes individually as well as a whole. It is also important to look at them from many different ethical perspectives, although, for this look at the sinking of the Titanic I have chosen to focus on a utilitarianism standard. Utilitarianism is a type of ethics popularized by Jeremy Bentham and John Stuart Mills in which the aim of action should be to create the largest possible balance of pleasure over pain or the greatest happiness for the greatest number of people. In other words, each decision should be made to result in the most happiness for the most people. This makes it a form of consequentialism, where the consequences of one’s conduct are the ultimate basis for any judgment about the rightness of that conduct. Jeremy Bentham created an algorithm to determine the degree or amount of pleasure that a specific action is likely to cause. He called this H edonic Calculus and it was divided into seven different categories. Bentham based this calculation off of intensity, or the strength of the pleasure, duration or how long the pleasure will last, certainty or how likely it is pleasure will occur, propinquity or how soon the pleasure will occur, fecundity or the likeliness it will be followed by pleasures, purity or probability that feelings of the opposite will occur, and extent or how many people will be affected. I will try to put some of the major failures of the Titanic in to these categories to determine the ethical standing of the engineers responsible for the Titanic. When analyzing this disaster the first thing to consider is the engineer’s design of the Titanic. The Titanic was employing many new and innovative designs that were believed to make the Titanic the safest ship ever built at that time. The engineer’s of the vessel made claims that the Titanic was â€Å"unsinkable† and that â€Å"even in the worst possible accident at sea, the ship should have stayed afloat for two to three days.† One of the features that lead them to this claim was the 16 watertight compartments in the hull of the ship. The way they were designed allowed for up to four compartments to be breached and they ship would still carry on. This feature of the ship would be a good act when looking at it from a utilitarianism view because in all categories of the hedonic calculus it seems like it will cause the most pleasure for the most number of people. Although the idea was good, it could be argued the execution was not. The compartments were mad e watertight by watertight doors that could be dropped manually if flooding occurred. This allowed for the compartments to be watertight horizontally, but the rooms had no ceilings, and the walls only went a few feet above the water line. This meant if a vast amount of water flooded a compartment it could flow over the top of one and spill into another. When applying the calculus to how the compartments were constructed the duration was medium because the walls at least slowed the water down some and hindered the sinking. The certainty and propinquity were good because it allowed for immediate pleasure, conversely the fecundity and extent are poor because the pleasure will be followed by pain when the compartments begin to spill over which would cause for a great number of people to experience pain, with a fewer number experiencing the pleasure. Another decision that led to the eventual demise of the Titanic was the materials chosen for the very important rivets. The flash of the Titanic also made it quite expensive to construct. To cut some costs the 3 million rivets used were made of two different materials, one stronger than the other. Steel rivets were only used in the central hull of the ship because this is where the engineers thought that the strongest rivets were needed. Weaker iron rivets were used in the stern and bow of the ship. This low quality metal used on these parts lost their integrity and became brittle in extremely cold waters, like the ones the Titanic would be travelling through. When applying to utilitarianism to this decision it is clear to see that this was a bad action. The duration of the pleasure would only be until something threatened to break the weaker rivets, but this is where you would want pleasure the most. It is unlikely that pleasure would continue throughout the life of the ship or happen suddenly so the certainty and propinquity are also bad. It is not likely that the pleasure of cutting costs would be followed by other pleasures so the fecundity and purity would be low. The extent of this possible pa in would be very great while the pleasure of saving money would only help a few which is also very bad in a utilitarian sense. The last oversight I will look at is the number of life boats on the Titanic. There was a law that required all vessels over 10,000 tons to have at least 16 life boats on deck. These were considered to be unappealing to the eye, so to try and give the greatest pleasure to their passengers the Titanic only had 20. Even though its massive size would have required over four times as many boats. This decision was made because the Titanic was â€Å"unsinkable† so the life boats were more on board to help save survivors of other boat crashes. This decision was initially pleasurable, but due to the circumstances turned out to cause great pain. The duration of the pleasure would be great as long as the boats were never needed. The certainty, propinquity, and extent were all high as long as the boat was above water. But if a crash happened all of these along with the purity and fecundity became very low. This action would have to be considered a bad action because when designing a ship you must consider the worst possible situations. When looking at all these flaws from a utilitarianism view it is clear that short term pleasure was always chosen over the possibility of long term pain or pleasure. This resulted in many thing being pleasurable up until the crash, but when designing a product where people lives may be at risk it is important to base your decisions on what would cause the greatest pleasure for the greatest number of people in all possible situations and outcomes. The hubris of the engineers clouded their vision and they failed to do this which resulting in the death of 1500 of the 2200 people on board the Titanic when it sank. Bibliography 1. http://www.matscieng.sunysb.edu/disaster/ 2. http://www.tms.org/pubs/journals/JOM/9801/Felkins-9801.html 3. http://www.encyclopedia-titanica.org/ 4. http://www.eyewitnesstohistory.com/titanic.htm 5. http://www.merriam-webster.com/dictionary 6. http://www.writing.eng.vt.edu/uer/bassett.html 7. http://www.titanicuniverse.com/

Letter Form a Birmingham Jail Mlk

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He expressed his desire and faith for the greater good and change in this letter with the use of emotional appeals such as imagery, diction, and descriptions of his harsh personal experiences regarding segregation and discrimination because of his skin color.Paragraphs 14 and 15 consists of emotional twists from unjust laws and release a combination of emotional and harsh events from the African American’s reality that bring the reader into their perspective from a hated level. In these paragraphs, Dr. Martin Luther King Jr. gets more personal and specific about the harsh treatment of African Americans and personal experiences regarding their harsh reality. Imagery shows all throughout this paragraph to create powerful and tear quenching emotions from the reader to get you to at least slightly understand their perspective.Dr. King immensely expresses what not only he, but all African Americans are and have been going through. He is able to paint a picture in the readers’ head of the abuse, pain, and hatred they have felt. But when you have seen vicious mobs lynch your mothers and fathers at will and drown your sisters and brothers at whim; when you have seen hate filled policemen curse, kick, and even kill your black brothers and sisters; when you see the vast majority of your twenty million Negro brothers smothering in an airtight cage of poverty in the midst of an affluent society†¦(218).All I see is hate filled police and Caucasian’s with disgust in their face causing undeserving pain to people that only have one difference: their skin color. Although I was not there to personally experience this torment, Dr. King is able to withdraw my emotions with just the truth, and put me on his side. His picture withdrew disgust and angriness for what our society is and how human beings can be. That little piece of the actual paragraph is just a glimpse. Dr. King goes on and on about their mistreatment.They are not just pained physically, but they are also haunted emotionally and mentally as well, â€Å"When you are harried by day and haunted by night by the fact that you are a Negro, living in constantly tiptoe stance, never quite knowing what to expect next, and are plagued with inner fears and outer resentments; when you are forever fighting a de generating sense of â€Å"nobodiness†Ã¢â‚¬ ¦Ã¢â‚¬  (218). Personally, feeling alone and insignificant is one of my worst fears about life, and Dr. King along with â€Å"twenty million† others suffered from this feeling for centuries.Imagery was able to capture my full attention in this paragraph, allowed me to see a glimpse of their pain, suffering, and mistreatment. With the powerful impact of imagery in these paragraphs, it certainly wasn’t the only strategy he used. Diction was an immeasurable aspect of this paragraph. The structure of Dr. King’s vocabulary was eloquent and delivered in such a structured, skillful manner that he was able to draw tear-filled emotions to his audience. He used words such as ‘curse’, ‘kick’, ‘lynch’, ‘kill’, ‘smothering’, ‘humiliated’, and ‘despair’.These words are able to describe to the reader of the completely atrocious way peopl e treated each other because of such an insignificant matter, the difference in skin color. Just reading these chosen words and how well it played with imagery, I winced. Using diction is shown to be powerful in this case because if Dr. King were to have only said, ‘mistreatment’, ‘abuse’, or ‘discriminated’, it would not have withdrawn as much emotion from his audience at the time and the readers now.His in detail descriptions of his barbaric treatment and personal experiences is the most influential and compelling strategy in paragraph 14 and 15. The disturbing events that occurred in that time period showed how cruel mankind to be. Dr. King shares experiences such as explaining to his children their harsh realities at that moment in time: When you suddenly find your tongue twisted and your speech stammering as you seek to explain to your six year old daughter why she can’t go to the public amusement park that has just been advertised on television, and see tears welling up in her yes when she is told that Funtown is closed to colored children, and see ominous clouds of inferiority beginning to form in her little mental sky†¦When you have to concoct an answer for a five year old son who is asking: ‘Daddy, why do white people treat colored people so mean? (218). Children are thought to be so innocent, pure from hatred, and chance giving and then when their little hearts are corrupted to think they are less than someone else, and they feel like they are in a world full of hurt, what are they to do then?Dr. King also shares his bleak experiences of witnessing that hatred be performed with murder and being denied what is thought of as automatic rights. These personal experiences not only keep your nose to the paper, but it is appalling to know the easy capabilities we hold as human beings to torment others for little things not only mentally, but physically, to the point of taking their lives completely aw ay from them.These lives taken lived a life where they were beaten and never shown the feeling of whole freedom and life without hypothetical chains. Dr. King was able to use these experiences to squeeze emotions out of his audience. They not only described their cold facts, but it brought me to his level of understanding and on his side. Dr. King did more than just simply explain their experience. Dr.King described that they have been waiting â€Å"for more than 340 years for† their â€Å"constitutional and God given rights† and watching other nations such as â€Å"Asia† and â€Å"Africa† move â€Å"with jetlike speed toward gaining political independence†, but how the United States was still creeping â€Å"at horse and buggy pace toward gaining a cup of coffee at a lunch counter† (217). He talked about how it was appalling for someone who never had to watch â€Å"vicious mobs lynch your mothers and fathers at will and drown your sisters a nd brothers at whim† (218) to say, â€Å"Wait. That with everything they have been through, they cannot and will not endure it any longer. He strongly felt that this could happen no longer, and that if it took â€Å"disobey[ing] unjust laws† (218) then he would. These paragraphs proved to be a monumental breakthrough for this letter. He described how he wasn’t going to take it any longer. After a lifetime of witnessing hate, ignorance, and abuse, personally being discriminated and segregated against for his skin color, and being thrown in jail for peacefully protesting, exercising the first mendment, he was still standing strong in his beliefs, not backing down. He was able to persevere through so much, and he wasn’t going to stop until his point was being made and change was happening. Dr. Martin Luther King Jr. was able to execute these immaculate paragraphs through emotional appeals (diction, imagery, and personal experiences) to minimally just slightl y understand what he has been through, and that he will not back down or tolerate it any longer.His cruel reality was not the only thing to breakthrough his audiences’ exterior but his strong will and genuine personality was able to make a huge impact. Through everything, and only being shown hate and violence, he retaliated with calmness, peaceful protests, and nonviolent maneuvers. This was more than the rest of the human race was able to do. After that, Dr. Martin Luther King deserves all the respect in the world.

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Heritage Management and Eco Tourism in the UK and China - Dissertation Example The reason for this added requirement of coordination and cooperation between diverse organizations and stakeholders has arisen due to the expansion in global as well as domestic tourism worldwide. With the advent of globalization and liberalization and the opening up of world economies, there has been a rise in the incomes as well as expenditure on entertainment and travel (Martha, 2008). More and more people have started to travel, both within their countries and in foreign destinations, in order to spend their holidays or even to conduct business. Cultural heritage sites have become important tourist attractions worldwide and have often become a source of high revenue for the destination country. For example, in the case of several European countries like Italy, Spain and France, their rich cultural heritage has been restored, packaged and promoted as tourist attraction that inspires millions of people to visit and bring foreign exchange to these countries (Tuohino and Hynonen, 20 01). The influx of tourists adds pressure on the cultural heritage management and preservation, and hence requires the combined services and efforts of diverse organizations ranging from -

Apple Inc Case Study Example | Topics and Well Written Essays - 2250 words

Apple Inc - Case Study Example In fact, it contributes to over 50% of Apple’s bottom line and with the sales of its iPhone 5 surpassing that of the iPhone 4s, the company’s market cap increased significantly. Secondly, the Apple Dividend announced in March of 2012 made its stock more attractive to income-searching retail investors, despite its small yield. However, income fund managers found its $2.65 quarterly dividend more important as the income funds require that the investments must provide income (Sutherland, 2012: p52). Having a dividend made it possible for more investors to buy its stock, which increased its market cap. In addition, although Apple’s stocks have been fluctuating, its fundamentals have stayed the same with over $100 billion in cash reserves and no debts. This ensures that investors see it as a safe bet that will climb again. Apple was able to identify market trends and capitalize on them through various means. With a diverse range of stylish products, Apple capitalized on the fact that consumers wanted to be different. The iPhone and the iPad were released after Apple recognized the high demand for computers and phones but that most products on the market looked the same with similar functionalities (Treacy, 2012: p60). Another reason for Apple’s ability to capitalize on identified market trends is its dynamic business plan, which is always set to resonate with what the market wants. By changing the company’s name to Apple Inc from Apple Computer, the company identified the need for a phone with computer functionalities and broadened their spectrum. Apple was also able to identify the fact that music retail outlets were becoming popular and that outsourcing this capability was not giving them what they wanted (Treacy, 2012: p60). ... By opening a retail store, they were able to capitalize on consumers needs for a retail outlet on their phones. Apple was able to achieve global success by leveraging brand loyalty. By taking their business to emerging markets with minimal penetration of smartphones but where their brand was already known due to mass media, the company opened up new opportunities for developers in those markets (Treacy, 2012: p72). In addition, by hiring employees from those countries and from diverse fields, including artists and musicians, they were able to create unique and different perspectives from those countries. Apple also built relationships with its customers in various regions of the world by embracing social media and the internet, which meant that people in these new regions saw Apple as a transparent and trustworthy company. In addition, they also used movement marketing, in which they marketed what Apple believed in, contending that they sought to bring personal experience of computin g to consumers across the world via innovation (Treacy, 2012: p73). By leveraging brand loyalty, Apple consumers have overlooked glitches as they have emotional connections with their products. However, in order for Apple to gain market share across the world, various companies also had to lose market share and the most affected company was Microsoft. By combining most of what Microsoft offered, including a phone, search engine, office, and operating systems, Apple was able to offer consumers a product that was more appealing (Treacy, 2012: p91). By doing this, Apple was also able to grow various market segments. One of them was the smartphone market, which, although still stagnant at 3%, has pushed its competitors to

Sample Research Paper Essay Example for Free

Sample Research Paper Essay Introduction The melamine controversy that erupted during the last quarter of year 2008 brought people’s attention back to the debates between breastfeeding and the use of breast milk substitutes like commercial infant formula. This wasn’t the first time that infant formula had caused illnesses and even deaths to infants worldwide hence the continuous campaign of World Health Organization (WHO) and UNICEF along with other breastfeeding advocates, for mothers to breastfeed their children at least until 6 months of age. Infant feeding practices refer generally to meet the nutritional and immunological needs of the baby. A study of infant feeding practices was carried out on a sample of 100 mother and infant pairs. The results revealed that only 20% of mothers in the study currently exclusively breastfeed their babies. It also shows that socio-economic factors like mother’s work status, marital status and educational attainment had direct bearing on these practices. Employed mothers tend to cease from breastfeeding their babies and eventually stop and just resort to formula feeding as they go back to work. The study also  showed that mothers who are married and living with their partners are more likely to breastfeed their infants than single mothers. Those with higher educational attainment resort more to formula feeding and mixed feeding than those with lower educational attainment. Health care professionals influence mothers the most when it comes to infant feeding decisions. Methodology Type of Research The type of research that will be used in this study is qualitative research and quantitative research. Qualitative researchers aim to gather an in-depth understanding of human behavior and the reasons that govern such behavior. The discipline investigates the â€Å"why† and â€Å"how† of decision making. Besides this, the researcher will also examine the phenomenon through observations in numerical representations and through statistical analysis. Along with questionnaires that will be given out to respondents for the statistical representation of the findings in the study, interviews with the respondents and a few experts in this field will also be conducted. Sampling Method The research sampling method that will be used in this study is random sampling to obtain a more scientific result that could be used to represent the entirety of the population. A list of all health care facilities (maternity and lying-in clinics, public and private hospitals, health centers) was acquired from the Las Pià ±as City Hall. From 20 barangays, 3 will be picked through random sampling. The health care facilities and institutions in these three barangays will then be the target sources of respondents of the researcher. The health care facilities and institutions will be contacted to obtain a verbal consent to administer the questionnaire to mothers at their places. A letter of consent will also be sent to them along with a sample copy of the questionnaire that will be used, as well as the protocol of the researcher. A letter was also addressed to the City Health Officer to obtain endorsement and consent to conduct a research in selected barangays and distribute questionna ires to the mothers in the vicinity. Data collection was conducted throughout the facilities‟ and health centers‟ operating hours from Mondays through Sundays in order to include both working and non-working mothers. Respondents The respondents in this research will all be coming from one single location Las Pià ±as City, specifically the randomly selected barangays of Pamplona I, CAA/BF International and Pamplona III. The researcher chose Las Pià ±as City because of the socio-economic conditions present in the area that is relevant to the study and also as it fits the time frame and resources of the researcher. The randomly sampled respondents will be asked by the researcher for consent and approval to answer the questionnaire until the desired number of respondents which is 100 is reached. The opinion of experts will also be sought in this research to provide explanations regarding the respondents‟ infant feeding behaviors and practices. Questionnaire The questionnaire requires information about the socio-economic and demographic background of the mother. It also has questions related to previous infant feeding practices and the birth of her youngest infant and also regarding the baby’s general health and age. Statements that are perceived to be factors that influence mothers‟ infant feeding decisions were presented. The description of the type of infant formula given by formula and mixed feeding mothers will also be asked in the material. Conclusion Majority of the mothers formula feed their child and only a minority exclusively breastfeeds their children, especially as per recommendation of the World Health Organization. While majority of the mothers in this study showed a positive attitude towards breastfeeding, most of them decided only to formula feed due to the reasons of insufficient milk supply and work. Based on the results of the study, the educational attainment, work status, marital status, and seminars in the barangay the respondents are part of, about breastfeeding, are the significant factors that affect the infant feeding decision of mothers in Las Pià ±as City. Majority of the mothers that served as respondents in this study fall under the age range of 17-30 years old. More than half of them were also college graduates while a significant number are undergraduates and have only reached until high school. Most of the mothers are housewives and the others remaining have full-time jobs, part-time jobs and self-empl oyed. A few of them are still students. While  majority of them were married, a lot were still in a status of live-in and are single. More than half of the mothers did not have previous children before the current one. Majority of the respondents also have an annual gross household income that does not exceed P50,000. Among the several information sources namely, media through televisions/radios and printed/published materials, the social support system comprised of the mother’s family, friends and other relatives and health institutions, the mothers who give their babies infant formula are influenced the most by health care institutions through health professionals and other health care personnel. They influence the mothers in deciding to feed the baby with formula and in choosing, as well, which brand of formula is best for their babies. Mothers trust their baby’s doctor because of their expertise in the said field hence this kind of relation is achieved. Mothers were overall not concerned about the possible side effects of breastfeeding as a few were only worried as shown in the data presented. It can be concluded that numerous internal as well as external factors influence a mother in making infant feeding decisions, and a greater fraction of these is socio-economic in nature.

Illustrate the theme of isolation in Of Mice and Men by John Steinbeck Essay Example for Free

Illustrate the theme of isolation in Of Mice and Men by John Steinbeck Essay In the novel Of Mice and Men which was set in the 1930s I believe that John Steinbeck Illustrated loneliness and solitude in many places. The seclusion in those times was due to mainly discrimination and injustice. The life of a customary worker would be very difficult, therefore people worked for others on their farms. The wages were not proportional to the amount of labour and in addition the accommodation was barely habitable, this was unjust. The two focal characters George and Lennie have a sturdy bond and companionship. The other characters in the story are missing a true acquaintance and are envious of the two men. They have never before seen two men unite together like that before. All the other characters in the book are all abandoned and dejected apart from Slim. George and Lennie were wedged together through thick and thin, through good and bad and they knew they needed each other. This was revealed as George Said Guys like us that live on ranches, are the loneliest guys in the world. This meaning that if not for each other they would be like the others on the ranch, discontented and lonesome. The others on the ranch had recognised this, as their fellow workers said Funny how you an him string together. This had highlighted the unusualness of the situation and the migrant lifestyle of the 1930s. While the whole ranch suffers from loneliness there are a few individual cases that are emphasised throughout the whole book. There are three main people in the book who suffer, Crooks, Candy and Curleys Wife. They all suffer injustice in the form of prejudice and discrimination. Candy was thought of as an outcast as he has no longer got the physical ability due to his age; and his physical disability does not help his cause. Candy had one true friend nevertheless, his dog. Once the dog was killed by Carlson, Candy was forced to seek friendship in another form. He knew that he was going to be given his marching orders shortly, as he said theyll call me purty soon. While he was in the bunk house one day, he over heard George and Lennie talk about their lifelong dream. Candy decided to help George and Lennie accomplish their dreams. Candy had presented to facilitate in the form of money and manual labour. This was a move of desperation but worked as the two men accepted Candys offer. Candy basically tried to buy friendship, this does not always produce true friends. Crooks a black man who faced isolation from the racist community. Crooks is not allowed to socially interact with others around him because of his colour which is similar to Lennies situation as Lennie was unable to interact with people due to his mental condition. Crooks is restricted from doing customary things along side the white. He recognises how he has been treated and acts towards the white people who have affronted him how he himself is being treated. Crooks is also an envious man. He is extremely resentful of George and Lennies tight friendship as Crooks says to Lennie while in the barn together well, spose, jus spose he dont come back. Whatll you do then? this was asked because Crooks did not have any friends and did not know how it would feel to lose them unexpectedly. Knowing that Lennie was mentally ill, Crooks decided to torture him because he wanted to ease some anger because he was discarded and unwanted by the others. Crooks is so lonely and striving for a good life he will do anything to live peacefully.

Foreign Direct Investment In Nigeria

Foreign Direct Investment In Nigeria The Nigeria economy has attained the middle income status according to the World Bank, with its ample stock of natural resources and institutional development and growth in the country. The Stock Exchange market in Nigeria is the second largest in Africa. The GDP Purchasing Power Parity was ranked 31st in the World as at the end of 2011. The balance of payment showed a trade surplus with the United States which is her largest foreign investor and a recipient of the largest export market for U.S. goods. During the  oil boom  of the 1970s, Nigeria accumulated a weighty foreign debt to finance key infrastructural investments. In October 2005, Nigerian authorities had a negotiation with its Paris Club  creditors and concluded on an agreement in which Nigeria debt was discounted by approximately 60%. Nigeria thereby used part of its oil profits to pay the residual 40%, releasing up at least $1.15  billion annually for poverty reduction programmes being carried out. History was rec orded in Nigeria after the debts were paid and was now known as the first African country to pay up all owed debt to the Paris club amounting to an estimated value of $30  billion. It is important to know that Petroleum  plays a large role in the Nigerian economy, accounting for 40% of Gross Domestic Product (GDP) and 80% of Government earnings. The telecommunication market in Nigeria is one of the World fastest growing fastest growing markets with major emerging market operators (like MTN, Etisalat, Zain and Globacom) who based their largest and most profitable centers in the country.  The government has recently begun expanding this infrastructure to  space based communications with a space satellite which is monitored at the Nigerian National Space Research and Development Agency Headquarters in Abuja. The financial service sector has developed as a result of the combination of international and local banks, brokerage houses, insurance companies and brokers, asset management companies, private equity funds and investment banks. Rampant inflation has occurred on the Naira and the Central Bank of Nigeria (CBN) has been trying to control the rate to remai n below 10%, in 2011, CBN increased interest rate, rising from 6.25% to 12%. On 31 January 2012, CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to reduction in fuel subsidies. Though the, the inflation rate in Nigeria was recorded at 12.80 percent in July of 2012. The unemployment situation in Nigeria is currently high just like how it has affected the global world due to the economic crisis as it was last reported at 23.9 percent in 2011. 2.2 Foreign Direct Investment in Nigeria A definition contained in the Balance of Payment Manual (Washington, D.C. International Monetary Fund, 1997 and 1993) defined Foreign direct investment as investment completed through a long lasting management interest of an organization, enterprise or professional body operating in a country other than that of the investor in question. And must have at least 10% ownership of the organization considered as FDI (Patterson et al 2004). Usually FDI are made by large multinational (MNEs) through acquisition or merger or the development of a new facility. The broad spectrum of all the MNEs is that they play a dominant role in Research and Development by bringing new technologies into such country and also they have great influence on the economy they invest in (Balaam and Veseth, 2008). The debate of FDI has increased as a result of the large flow of FDI into both developed and developing country and its importance on the growth in such economies and global economy at large. The component s of FDI should not be mistaken; this includes equity capital, reinvested earnings and intra-company loans. Equity capital is the foreign direct investors net purchase of the shares and loans of an enterprise in the country of investment other than its own. Re invested earnings is part of an affiliates earning accruing to the foreign investor that is reinvested in that enterprise. And intra-company loans are short or long term loans from parent firms to affiliate enterprise or vice-versa. 2.2.1Determinants of Foreign Direct Investment The economic determinants of inward FDI can be grouped for conveniences sake into three categories each reflecting the motivation for investing in foreign countries in specific Nigeria. This includes resource seeking, market seeking and efficiency seeking. Resource seeking is a principal determinant because the availability of natural resources in the host country determines if such country is well endowed and if investment is possible. In previous years the agriculture sector in Nigeria was booming and served as a great form of investment venture in the economy as the earnings accruing from it boosted the economic growth of the country. However in recent years, the oil and gas industry has overshadowed the agriculture sector and therefore neglected as resources and funds have been used to improve the oil and gas sector. Petroleum oil since then has served as a huge avenue for foreign investors because of the abundance in the country the inflow to that sector has been high and theref ore contributing about 40% to Gross domestic product, 90% of exports and 80% of government revenue. The relevance of economic determinant for attracting market seeking FDI is the market size in absolute terms. Large market can accommodate domestic and foreign thereby helping to boost firms production to operate on scale and scope economies and Nigeria has a wide market base. Efficiency seeking determinants can be other forms that reflect the motivation to invest such as that availability of low-cost unskilled labor in Nigeria. 2.2.2 Challenges of the Operating Environment for FDI Some of the major limitations to attracting investment in Nigeria include unfriendly investment environment, inconsistency in government policies, others are social vices such as insecurity corruption, financial and economic crimes as well as conflicting policies. The challenge therefore is to reverse these: (i) The Capital market The Nigerian capital market was also not secured in the tumults of the global economic crisis, in April 2008; the market experienced a downturn in the history of capital market operations in the country. This unprecedented sinking of the stocks forced both foreign and local investors who had opted for the advantage of the optimal return on investments on the stock exchange began to scoot elsewhere in extreme anxiety. (ii) Energy As a result of the global economic crisis the demand for oil decreased, resulting in oil prices dipping from $140 per barrel in the third quarter of the year to $44, and being the principal source of the countrys revenue earner. The foreign reserves dwindled from $65billion to $45billion within six months from the third to last the quarter of the year. Apart from the above, Nigerias high propensity for imports was also part of the reasons for the fast diminished foreign reserves. In 2006, 2.5millions barrels per day were produced and grew to about 3millions barrels per day. Unfortunately the Niger River Delta violence during this period cut off 600,000 barrels per day. Furthermore, the lack of qualified technical staff was a constraint, kidnapping in the Delta also made recruiting expatriate staff difficult, especially for the oil services companies (iii) Power: Numerous ways of improving infrastructural development have been embarked upon by government but still to no avail. Development of infrastructure particularly electric energy has been and still remains a major concern of investors even despite the Power Reform Program, no productive result has been achieved (Bello 2011). The inadequate infrastructure has imposed high transaction cost for business and thereby militating against growth of the private sector 2.3 Foreign Direct Investment Flows This section discusses and explains the pattern of Foreign Direct Investment flow in the World and in Nigeria. 2.3.1Trends and Pattern of FDI in the World The world economy has gone global due to the liberalization of trade, the breaking of business barriers, technological advancements, capital markets and the growth of international goods and services or ideas over the past decades. Ayanwale (2007), many developing countries see FDI as an important element in their strategy for economic development and this has led to the speedy growth of FDI around the world. In developing countries, Mergers and acquisitions including private- to-private transactions as well as acquisitions through privatization became an important vehicle for FDI (Kyaw, 2003). Therefore, developing countries have made impact on the global economy as a result of large domestic market, cheap and skilled labor, low labor costs and high returns on investment especially in the economics of industrialized states. This has led to many countries improving their business climate to attract more FDI. In fact, one of the pillars for launching the new partnership for Africas de velopment (NEPAD) was to accelerate FDI inflows to the region (Funke and Nsouli, 2003). The trend of FDI depicts in the diagram below of the inflow of FDI in the past twenty years as there has been an upward movement from 1990 and a decrease in1999 then rose again in 2003 and continued to rise until the decrease again from 2007 and has remained very low due to the world economic crises that has been ongoing. Figure 2.1: World Foreign Direct Investment Inflow Source: World Development Indicators 2008 Fifty-seven new measures affecting FDI were introduced by forty African countries of which forty-nine among these measures encouraged inward FDI (UNCTAD, 2007). The increase in FDI inflows largely reflected strong performance and relatively high economic growth (UNCTAD, 2008). 30% of total FDI inflows were accounted for as reinvested earnings as a result of increased profits of foreign affiliates, notably in developing countries. In Africa, FDI inflows increased from $18 billion in 2004 to $36 billion in 2006. This was due to improved prospects for corporate profits, increased interest in natural resources and a more favorable business climate. As regards this, many studies have been conducted to ascertain these; however, the results do not give accurate evidence of the impact of FDI on the economy of developing countries. For example, Lumbila (2005), Sylwester (2005) and Ndikumana and Verick (2008) show that there is a positive effect of FDI on economic growth, while others such as (Fry, 1993, Dutt, 1997; Hermes and Lensink, 2003) gave contrary conclusions. Further, other studies suggest that the effect of FDI on economic growth may depend on whether the country has minimal level of absorptive capacity that is a prevailing environment that can attract FDI such as educated workforce, institutional infrastructure and liberalized markets (Borenztein et al., 1998; Carkovic and Levine, 2002; Le Vu and Suruga, 2005). 2.3.2Trends and Pattern of FDI in Nigeria Nigeria a country well-endowed with natural resources and a very large market sizes qualifies to be a major recipient of FDI in West Africa and indeed one of the top leading West African Countries that has consistently received FDI in years past as we see in the figure below: Figure 2.2: Nigeria Foreign Direct Investment stock Source: UNCTAD 2012 However the level of FDI attracted by FDI has shown no specific significant value in the growth of the economy and is been seen as mediocre (Asiedu 2003) compared with the resources of the country. Furthermore, the empirical relationship between FDI and economic growth has remained unclear despite numerous studies that have examined the subject of interest. However, recent evidence supports that the relationship between FDI and growth may be country and period specific. Asiedu (2001) submits that the determinants of FDI in one region may not be the same for other regions. Although it has been generally acknowledged that FDI is an important aspect of the recent wave of globalization across countries. FDI inflow to diverse regions of the world has been increasing dramatically. The total world FDI as at 1990 stood at US$204443370862.543 and grew dramatically to US$815219446619.453 (World Bank 2012). Only few countries have been successful in attracting significant FDI flows. But West Af rica as a whole has not benefitted particularly from the FDI boom. In West Africa, FDI amounted to 14012.54758974US dollars in 1990 and has been increasing gradually and currently stands at 110394 US dollars (UNCTAD 2012). Although UNCTADs World Investment Report 2004 reported that Africas outlook for FDI is promising, the expected surge is yet to be manifest. Nigeria is one of the few countries that have consistently benefited from the FDI inflow to West Africa and has turned out to be one of the most attractive countries in West Africa in terms of FDI inflows with a value of $69242million in 2011 amongst others such as Ghana with $12320miilion, Liberia with $546smillions, Cote d Ivoire with $6408millions and Niger with $3123millions. Nigeria share of FDI inflow to West Africa in 2011 covers about 63%. As percentage of GDP, foreign direct investment has increased substantially since 1990 till 2001 but began to drop since 2002 and currently stand at 29.16%. Although the value of FDI inflow into Nigeria has been on the increase. This is attributable to the economic reforms and the resulting of macroeconomic stability, which have instilled great credibility in the Nigerian economy. However the FDI contribution as a percentage to Gross domestic Product has fallen but the Nigerian economy has experienced strong growth in recent years. Real GDP growth averaged 7.8 percent from 2004 to 2007, and growth of 6.4 percent in 2007. Sectorally, there was a surge of FDI flows in the primary sector, mainly oil and gas. In 2008 Nigeria was at the top of the ten Africa FDI recipient nations with over US$20billion. The ethnic conflicts and youth restlessness in the Niger delta affected the level of the crude Oil production. The election tension and these socio-political conflicts aggravated the problems of insecurity and hence the improbability in the domestic business environment which in turn impacted negatively on the inflow of FDI. Towards this the Federal Government has improved the security in that region and the youths in that region are being empowered to participate in productive ventures. In addition, the services sector particularly, transport, storage and communications continued to attract FDI since 2006. Oil accounts for nearly 40 per cent of GDP, but from 2001 to 2006-except in 2003-real growth in other sectors outpaced growth in the oil sector. For example the telecommunication sector experienced strong growth after its privatization. In spite of the surplus of studies on FDI and economic growth in Nigeria, the existing empirical evidence on the causal relationship between foreign direct investment and economic growth and the associated benefits is very inconclusive. In spite of a seemingly positive association between FDI and economic growth, the empirical literature has not reached a consensus on the direction of this impact, however, suggesting that foreign direct investment can be either beneficial or harmful to economic growth. The principal driving force for this work is that for developing economies, and for Nigeria in particular, the issue of economic growth is an important one. 2.4Sources and sectorial distribution of Foreign Direct Investment in Nigeria Nigeria sources of FDI over the years have been increasing. There are more countries investing in Nigeria than in previous years. Some countries include USA, UK, China, and Netherlands amongst others.   Nigerias most important sources of FDI have traditionally been the home countries of the oil majors. The USA, present in Nigerias oil sector through Chevron Texaco and Exxon Mobil, had investment stock of USD3.4 billion in Nigeria in 2008, the latest figures available. The UK, one of the host countries of Shell, is another key FDI partner UK FDI into Nigeria accounts for about 20% of Nigerias total foreign investment. As China is striving to expand its trade relationships with Africa, it is becoming one of Nigerias most important sources of FDI; Nigeria is Chinas second largest trading partner in Africa, next to South Africa. From US$3 billion in 2003, Chinas direct investment in Nigeria is reported to be now worthwhile. Different sectors have received different amount of FDI in Nigeria. The total volume of FDI captured through the Central Bank of Nigeria is US$7,750billion. This represented about 11% increase over 2007 figure of US$6,935billion. The non-oil sector attracted US$7,109billion which represents about 91% of the inflow with the services sector being the major beneficiary with about 82% of the total inflow into the economy. The banking and finance sector accounted for about 9%. The country remains the highest destination of investment within the Economic Community of West Africa (ECOWAS) region by attracting about 50% of the total volume into the region. It is evident to note that when compared to other countries in Africa in terms of total stock of FDI attracted over the last ten years. Nigeria is ranked second to South Africa as we see in the figure below: Figure 2.3: Selected African Countries FDI inflow in comparison with Nigeria Source: UNCTAD 2008 2.5Foreign Direct Investment policies Framework 2.5.1Investment Framework and Bodies The Nigerian Investment Promotion Commission Act laid out the framework for Nigerias investment policy in 1995. Under the Act, foreign ownership of 100% is allowed in other industries apart from Oil and Gas industry where investment is constrained to existing joint ventures or new production-sharing agreements. The essence is to promote and facilitate investment in Nigeria. In 2006, a One Stop Investment Centre (OSIC) was set up to bring together agencies with mandate as regards investment and streamline the process of investing in the country. Furthermore, the Commission is required to encourage, promote and co-ordinate investment in the Nigeria Economy. The law allows the Commission to grant approvals on fiscal concessions on industry interrelated incentives such as: Export oriented industry, Local raw material utilization, and Pioneer industries, Implant training, Research and development, Investment on infrastructural facilities, Investment in economically disadvantaged areas; pr ovided that the fiscal incentives for which approvals are given shall be for tax concessions (NIPC 2006-2008 Report). Other Stakeholders that were represented within the One Stop Investment Centre (OSIC) are: Corporate Affairs Commission (CAC): who will be responsible for name search and company incorporation registration. Nigerian Immigration Services (NIS): will be in charge of Expatriate Quota Positions, Regularization of Permanent Work Permits, and other immigration facilities. Nigeria Customs Service (NCS): has the role of issuance of import and export guidelines procedure for citing excise factories goods clearance facilitation and generation information on fiscal policy issues. Federal Inland Revenue Services (FIRS): is responsible for tax registration, payments of stamp duties, issuance of tax clearance certificate and issuance of tax forms National Agency for Food and Drug administration and Control (NAFDAC): has the function of registration of regulated products, issuance of export certificate, authorization to import of unregistered products Standard Organization of Nigeria (SON): is responsible for facilitating all aspect of standardization activities, approvals or permit for use of standards and provide guidelines for investors. Amongst others. 2.5.2 Other Policy incentives Investment incentives are commonly intended to provide tariff, fiscal and other concessions to enterprises that meet certain criteria such as choice of sector, size, location and employment creation etc. This applies both to foreign and domestic investors. Thus, for the main aim of attracting identified strategic investments, the NIPC by its mandate is expected to execute full authority in the administration of the numerous incentives to encourage investment activities. However, this has not been the case as some Federal Ministries and agencies are also performing this function and leading to misplaced obligation. This requires coordination and streamlining for effectiveness and efficiency. The recent Presidential Committee on Problems of Investors is doing its best in overcoming most of the constraints and attempt are being made to review the incentive regime and make them responsive to the yearnings of investors. Other investment promotional activities include: Sensitization programme aimed at educating the Public on its activities and to seek public support for its programmes. Hosting business and investment forums like successfully organized the 1st Nigeria-Brazil Business and investment Forum which held in Sao Paulo, African Petroleum, Energy and Mining Forum in Beijing, Nigerian Argentine Business Investment Forums and other conferences being organized to promote investment like International Business Leaders Conference (NIPC 2006-2008 Report). 2.6 Linking Foreign Direct Investment and Economic Growth The link between Foreign Direct Investment and Economic Growth has been a subject of debate for many decades and has been subject to empirical scrutiny. There have been new found facts about this link due to the emergence of the globalized world in recent times. This is due to the acknowledgement of Multinational Corporation, capital accumulation and large investment in trade in developing countries. Foreign direct investment is bundle of capital stock and technology, and can augment the existing stock of knowledge in the host economy through skill acquisition and diffusion, labor training and the introduction of new managerial practices and organizational arrangements (De Mello 1997). Three literatures have added to the subject of FDI-led growth. First, previous studies based on the assumption that there is only one causality from FDI to GDP growth and have been criticized in more recent studies (for example Kholdy 1995). In other words not only can FDI cause negative or positive ef fect on growth but growth can affect the flow of FDI. Secondly, the new-growth model has resulted in some reappraisal of determinant of growth in modeling the role played by FDI in growth process. Thirdly, the new development in econometrics theory such as time series concept of integration and causality testing has further expanded the ongoing contest of the relationship between FDI and economic growth. Foreign direct investment can impact growth directly and indirectly. The impact of FDI can be seen to directly impact growth through capital accumulation, and the incorporation of new inputs and foreign technologies in the production function of the host country. Neoclassical and endogenous growth models have used empirical test to check the theoretical benefits of FDI. In the neoclassical growth models FDI promotes economic growth by increasing the volume of investment but FDI affects growth only in the short run because of diminishing returns to capital in the long run. Longà ¢Ã¢â€š ¬Ã‚ run growth in the neoclassical models arises from exogenous growth of the labor force and exogenous technological progress. In the endogenous growth models FDI raises growth through technological diffusion from the developed countries to the developing. This permanent knowledge transfer from FDI accounts for the diminishing returns that result in long run growth. The endogenous growth literature has identified country conditions that must be present for FDI to have a positive impact on growth such as the complementarity between domestic and foreign investment, adequate leve ls of human capital, open trade regimes, and wellà ¢Ã¢â€š ¬Ã‚ developed financial markets. Some of the most important endogenous growth empirical research has been discussed in the literature review section. It is now necessary to look at the impact of FDI on growth in the economy and the analysis on whether FDI has an effect on economic growth; this will be discussed in the next chapter.

Historical Narrative: Beacon In A Sea Of Darkness :: essays research papers fc

The day started as usual. I got out of bed. My eyes sore from lack of sleep. My feet hit the cold floor, sending a shudder through my spine. It's a shame. In the winter, the weatherman will tell you that tomorrow will be a warm one, but warm for winter in New York is still blisteringly cold (Weather 53). I looked at the clock. 7:50 AM. No time for breakfast. I had to get to work. In this business, either you were there on time to take someone's case or he went to another detective. I grabbed my coat and started running down the apartment stairs, trying to wave down a taxi. My landlord tried to nab me and complain about my late rent, but I had not time to trifle with him. I jumped into the first taxi I saw and told the driver to take me to the corner of 7th and Elm. Whin I got to the office, Rose, my secretary, was on the phone talking to her fiance ("Miss" 30). Her husband to be was a real sweet talker, but he was a Communist, which made my blood hot. Such a shame, a fine broad going to waste like that. She whispered goodbye to him and hung up the phone. "Any calls for me while I was out, Rose?" "No, Sam, the morning's been pretty quiet so far," she replied. "Here's the morning paper as you requested. The coffee should be hot and ready in just a few minutes." "You're a doll, you know that, Rose? I swear my morning would be a nightmare if it weren't for you. I've got a couple of tickets to the next Yankees game if you'd like to go out. I hear Mantle and Rizzuto are hitting pretty well" (Effrat 34). "Mr. Brock! Thank you very much, but I'm engaged. I can't go off on a weekend dating spree right before I get married. What would others think? They'd call me a floozy for sure!" "Well, I thought it was worth a try. Give me a holler if you change your mind. I'll be in my office if anything comes up." I walked into my office, about to shut the door, when I stopped myself. "Rose, what do you see in that guy anyway? Did he trick you into marriage or was he just the only guy left in the store?" "Despite what you may think of him, I find him very attractive.

Creating Sympathy for the Johnston Family in Blood Brothers :: Blood Brothers Willy Russell Essays

Creating Sympathy for the Johnston Family in Blood Brothers Blood brother is a tragic tale about two twins who were parted at birth and as a result, led very different lives. The playwright, Willy Russell portrays the circumstances in which the twins were conceived, born and parted and also gives us an insight into how society has the influence of shaping individuals according to the classes they are in. We, the audience are made to sympathize with Mrs. Johnston on many occasions varying from the beginning of the play, even before the twins are born to the end of the play, when we learn about their unfortunate death. In the play Blood Brothers we see the upbringing of two so called blood brothers, Eddie and Mickey who are bought up in two different lifestyles. Mrs. Johnston is the mother of seven children and is already on the way of expecting twins that were to be parted soon after. This is told to us via the narrator, who states, that the mother â€Å"stood and watched brother parted from brother†. Willy Russell uses various techniques to create sympathy for the Johnston family. We also need to take into account the language barrier between the two brothers because they have been brought up in two different back grounds and have been taught different principles. Eddie seems to behave in a more socially acceptable manner whilst Mickey is louder. The play starts of by describing Mrs. Johnston’s life and her marriage. The author quotes â€Å"that I was six weeks overdue† which makes us the audience feel sorry for her. It also describes the place of marriage which was at the registry office. â€Å"We got married at the registry and had a do†. This suggests to us the audience that the wedding was nothing too fancy, not too expensive and that the marriage was sudden and unexpectant. She got married because she was expecting a baby, in difficult, circumstances to get married in. we soon learn that Mrs. Johnson is trapped in her life. Soon after the wedding she still wanted to enjoy herself as she did before but her husband became very conscious of her appearance and felt embarrassed to be seen with her. This is evident due to the fact that she gained weight and now perceived herself to be â€Å"twice the size of Marillyn Monroe†. Russell also uses a lot of ironic devices in the play. It’s ironic due to the idea that her husband left her â€Å"for a girl, they say who looks a bit like Marillyn Monroe†. The audience feels sympathetic towards her because she has seven children and low self esteem. Creating Sympathy for the Johnston Family in Blood Brothers :: Blood Brothers Willy Russell Essays Creating Sympathy for the Johnston Family in Blood Brothers Blood brother is a tragic tale about two twins who were parted at birth and as a result, led very different lives. The playwright, Willy Russell portrays the circumstances in which the twins were conceived, born and parted and also gives us an insight into how society has the influence of shaping individuals according to the classes they are in. We, the audience are made to sympathize with Mrs. Johnston on many occasions varying from the beginning of the play, even before the twins are born to the end of the play, when we learn about their unfortunate death. In the play Blood Brothers we see the upbringing of two so called blood brothers, Eddie and Mickey who are bought up in two different lifestyles. Mrs. Johnston is the mother of seven children and is already on the way of expecting twins that were to be parted soon after. This is told to us via the narrator, who states, that the mother â€Å"stood and watched brother parted from brother†. Willy Russell uses various techniques to create sympathy for the Johnston family. We also need to take into account the language barrier between the two brothers because they have been brought up in two different back grounds and have been taught different principles. Eddie seems to behave in a more socially acceptable manner whilst Mickey is louder. The play starts of by describing Mrs. Johnston’s life and her marriage. The author quotes â€Å"that I was six weeks overdue† which makes us the audience feel sorry for her. It also describes the place of marriage which was at the registry office. â€Å"We got married at the registry and had a do†. This suggests to us the audience that the wedding was nothing too fancy, not too expensive and that the marriage was sudden and unexpectant. She got married because she was expecting a baby, in difficult, circumstances to get married in. we soon learn that Mrs. Johnson is trapped in her life. Soon after the wedding she still wanted to enjoy herself as she did before but her husband became very conscious of her appearance and felt embarrassed to be seen with her. This is evident due to the fact that she gained weight and now perceived herself to be â€Å"twice the size of Marillyn Monroe†. Russell also uses a lot of ironic devices in the play. It’s ironic due to the idea that her husband left her â€Å"for a girl, they say who looks a bit like Marillyn Monroe†. The audience feels sympathetic towards her because she has seven children and low self esteem.

Tariffs and the War on Terrorism :: Terrorists Terror September 11 Essays

Tariffs and the War on Terrorism In March 2002, the Administration of the President of the United States under George W. Bush placed a rigorous tariff on imported steel. The United States uses the protective tariffs important for two reasons, according to a press release by the Administration1. One reason is to expand the domestic economy that has, according to some experts been in a â€Å"slump† or â€Å"retraction† since spring 2001. (It was even more â€Å"aggravated† by the events of September 11) Second, to protect important-Union based steelworker jobs in the United States. The steelworker jobs are key to the â€Å"National Security of the United States†2, according to the Bush Administration. Despite Federal Reserve Chairman of the Board, Alan Greenspan, stating later in the month that the US economy was â€Å"well under way into expansion†3, the Bush Administration saw an absolute need to put into action the tariffs. The steel tariffs are going to largely affe ct many nations that are supporting the US in the â€Å"War against Terrorism†, as well as the US relations in these nations. By taking into account historical occurrences, expert analysis based on economics, and scholarly study it can be concluded that these tariffs have the potential to encompass diverse effects on the US and the alliance it has in the â€Å"War against Terrorism†. History has witnessed tariffs to have varied affects on the events that are associated with conflicts and wars. Tariffs are designed to â€Å"protect domestically made products and for the state that uses them to collect specific commodities† 4. M.J Daunton, in a The English Historical Review article5, points to the conflict amongst the European alliances and the reasons for the First World War being indirectly based on tariffs. The pre-First World War alliances were based on both security and industrial purposes. When the alliance that was set up amongst the Central Powers of Germany, Austria-Hungary and the Ottoman Empire, it was largely because of the resources of production and the agreements that were arranged between corporations and industries in the countries. Germany, for example, had a highly advanced steel industry and used many resources that came from the Austrian-Hungarian Empire as well as the Asian-Mediterranean Ottoman Empire. Rivaled by the Britis h and the France to their west, these countries saw â€Å"open-trade† with these competing countries as being harmful to their domestic economies and industries.

Jones Blair Case Analysis Essay

Decide where and how to deploy corporate marketing efforts among the various architectural painting coatings markets serviced by the company in the southwestern United States. Situation Assessment The US paint industry is a very mature market. The case goes as far to say that paint is can now be considered a commodity. There are 3 main sectors of the paint industry with 2, Architectural coatings and OEM coatings, holding more then 3 quarters of the market and Special purpose paints at 22% Being a mature industry they are not expecting any growth in sales figures except for the growth to stay inline with inflation. It would be useful to know where the 3 segments are at now in 2012 after the financial crisis hit and use for paint materials must have declined when housing construction (architectural) car manufacturing (OEM) and state budgets (special purpose coatings) saw a large decline. Also with customers wanting a thicker coating with less paint at a cheaper cost and strict EPA guidelines; balancing R&D cost and maintaining a strong contribution margin is becoming increasingly difficult. Jones Blair is particularly concerned with how to grow their market share in the Architectural Paint coatings segment. This is the largest of the 3 segments at 43% of the market with minimal expected future growth. The success of this industry is tied to the housing market as most of the materials sold in this segment are used in relation with construction and residential and commercial property remodeling. It would be useful to know much of a hit this segment took with the recent housing crisis. For a while there was no new lending or construction so this segment must have been hit hard. Now that the economy is starting to grow again and people/business are starting to take on improvement projects and buy new properties It would be interested to see what kind of growth is expected over the next few years and if it is considered to be sustainable growth. The competition in the Architectural Coatings market follows the industry standard as being a mature market and there is minimal organic growth within companies. Since R&D costs are high and market segments are well developed most growth is seen with the acquisitions of competitors. The number of paint companies has almost been cut in half since the 1980’s as companies continue to merge together. The paint itself is sold with a 50/50 mix between consumer store fronts and specialty yards. I have a feeling this may also be changing as stores like The Home Depot and Lowe’s cater to the do it yourself market along with contractors. Mom and Pop hardware stores, and Paint Brand (I. E. Sherman Williams) store fronts are starting to diminish. The direct to consumer sales are taking place in super centers like Wal-Mart, Sears and Lowe’s, while contract and industrial sales are primarily seen in specialty stores and Lumber yards. The case says the sales are split between private brands and specialty stores, but I have a feeling as these â€Å"Super Stores† become more prevalent and more people looking to the internet to learn how to do the jobs themselves that sales would shift towards these larger stores. A trending report over the past 10 years with the sales dollars in Architectural paint sales I think would help show this shift. I think it would also be beneficial to see just how many people are painting their homes. It say roughly the average painter will spend $86 on paint and sundries, but I wonder just how many homes are taking on improvement projects. Jones Blair is primarily based in the in the South West Market primarily around the Dallas Fort Worth Area. With growing competition it’s harder to standout in the DFW area as brands battle with in Super Stores due to the number of stores merging or going out of business. The competition is cutting their prices to gain market share making sure you are in as many stores as possible has become a key factor to success. Full product penetration in all areas of the market will be key to ensure strong sales figures and growth. The distribution of sales in this area are relatively split between mass merchandisers and the specialty stores. I think a population analysis of the area would be beneficial to see what areas have a growing population as this would have focus sales efforts for not only contractors developing land but also DIYers who are moving out of the metropolitan area. Over all the sales are relatively split relatively even between the DFW metropolitan areas and the surrounding counties.

Better Business Bureau

The Better Business Bureau (BBB), founded in 1912, is a nonprofit organization focused on advancing marketplace trust, consisting of 113 independently incorporated local BBB organizations in the United States and Canada, coordinated under the Council of Better Business Bureaus (CBBB) in Washington, D.C.The BBB collects and provides free business reliability reviews on more than 4 million businesses to over 100 million requests from consumers in 2012, helping make the BBB's website rank among the top 500 most-visited websites in the United States. The BBB serves as an intermediary between consumers and businesses, handling nearly 1 million consumer disputes against businesses in 2012. The BBB also alerts the public to scams, reviews advertising, and assists when donating to charity.â€Å"Medical quackery and the promotions of nostrums and worthless drugs were among the most prominent abuses which led to the establishment of formal self-regulation in business and, in turn, to the crea tion of the NBBB.†BBB's concept has been credited to several court cases, such as United States v. Forty Barrels and Twenty Kegs of Coca-Cola, initiated by the government against a number of firms, including the Coca-Cola Company, in 1906 after the Pure Food and Drug Act had become law. Samuel Candler Dobbs, sales manager of Coca-Cola and later its president, took up the cause of truth in advertising in the wake of those judgements.In 1909 Dobbs became president of the Associated Advertising Clubs of America, now the American Advertising Federation (AAF), and began to make speeches on the subject. In 1911 he was involved in the adoption of the â€Å"Ten Commandments of Advertising†, one of the first codes of advertising developed by groups of advertising firms and individual businesses.Similar organizations in succeeding decades, such as the National Better Business Commission, Inc. of the Associated Advertising Clubs of the World (1921), and the National Association of Better Business Bureaus, Inc. (1933) merged to become the Association of Better Business Bureaus, Inc., in 1946. In 1970 the Council of Better Business Bureaus (CBBB) was established. Better Business Bureau The better business bureau has been able to perform its business operation more efficiently because of its strong financial base. The company has 380,000 business members that range in size from local enterprises to multinational corporations. To be able to serve all this businesses efficiently means that this company is strong financially. Also the company because of its strong financial background runs many other projects like giving donations to needy students in the form of scholarships. Large number of working staff: The better business bureau has many workers.It has people involved in international organizations for the 133 better business bureaus that are located in North America. Because of its large number of employees, it is in a better position of competing with its competitors. Qualified and competent employees: The better business bureau has qualified and competent employees who are capable of dealing with matters of customers and consumers. To be involved in programs li ke Better Business Bureau Auto line and the National advertising division in America means that the company has qualified and competent workers. The company is utilizing modern technology in its operations:The better business bureau company utilizes modern computer programs and internet in ensuring that it offers its services efficiently. Through the use of modern technology the company is able to serve all its 380,000 business members ranging in size from local enterprises to multinational corporations. The company benefits from its good brand name: The better business bureau has been able to create a good image to its customers hence the company benefits from its good brand name. The company covers America and many other parts of the world: The better business bureau enjoys having many customers within America and in other parts of the world.Within North America the better business bureau serves international organizations for 133 better business bureaus. It also serves 380,000 bu siness members ranging in size from local to multinational corporations. They appeal to the needs of the community: The better business bureau has joined new programs like better business bureau auto line, national advertising division. Through this programs the company gives training on how to maintain there own vehicles and on how to improve on their advertisements. The company also gives scholarships to deserving students, this shows that the better business bureau takes care of the community.Weaknesses: 1. Too many competitors 2. The company should improve on its networking, coordination and record keeping Too many competitors The better business bureau has started facing competition from new other companies that also offer similar services. Networking, coordination and record keeping For the better business bureau to continue being a market leader in serving its customers it should improve on its networking. Its workers should coordinate properly and the company should also imp rove its record keeping systems. Opportunities 1.Meeting the needs of corporate business members who want to do business overseas, and fulfilling the needs of the industry and consumers in other countries. 2. Enlarging of their target market. 3. Creating a community of trustworthy businesses 4. Encouraging and supporting best practices within customers and consumers. The better business bureau has a number of opportunities to exploit. Among them are:- Meeting the needs of corporate business members who want to do business overseas. The better business bureau has met the needs of many corporate business members who want to expand their business overseas.This is an opportunity that the company should exploit. Enlarging of their target market. The better business bureau is promoting charity accountability, it is also promoting public trust in advertising, it also offers Better Business Bureu international student Ethic award further still the company can enlarging its target market by serving more organizations. Creating a community of trustworthy business. The main aim of the better business bureau is creating a community of trustworthy business. The company is after encouraging good business practices among its customers and consumers.Threats Maintaining online programs: – it is expensive to maintain a website and this will require a lot of money. The company will need to hire qualified personnel to be regularly maintaining it. †¢ Higher costs: since the cost of oil, food and other necessities has increased the company will get it hard in performing its operations because the cost of leaning businesses will be high. †¢ Reaching all its customers within and overseas and competing favorably with its competitors: the better business bureau faces a major threat of constantly being in contact with its customers and consumers.The company should also ensure that it offers quality services than those of its competitors. External analysis Some external factors that pose opportunities and threats to the organization include demographics factors, economic factors, social-cultural factors, and political-legal and technology factors. Demographics The better business bureau has created a good business atmosphere where many buyers and sellers meet each other. The better business bureau is an international organization for 133 better business bureaus across North America.In North America the company has met the needs of many businesses. The company has 380,000 business members ranging in size from local enterprises to multinational corporations. Therefore the company is serving many business members globally. For the company to serve the 133 better business bureaus and 380,000 business members world wide, it offer a range of quality services. First the company is promoting public trust in advertising. The company promotes public trust in advertising in order to foster truth and accuracy while making its advertisements.The company is also promoting charity accountability. The company uses modern technology by enabling local charities to use their online reporting and evaluation system. Economic: The better business bureau company will be greatly affected by the increasing prices of oil and food. As the prices of the common necessities increase the general and overall performance of its member businesses are also affected. In response to the general increase of prices of commodities the company is offering advice and training on proper business management.The company offers affordable education to its members on how to manage their businesses. Technological The better business bureau is employing new technology that has enabled local charities to be using an online reporting and evaluating system. Through the use of internet the better business bureau has created more awareness about the services it’s offering to its customers. Also through the internet its international organizations for 133 better business b ureaus across North America communicate with ease. Through the internet many interested business can contact the company.Through the internet also the company has been able to achieve more like denouncing substandard market place behavior and by also ensuring that high standards are set and maintained. Through the internet also many customers are able to join the company. Political-legal The better business bureau is a company with an American origin; it’s likely to face challenges in offering its services to countries that are having poor relationships with America. This is a global company that is addressing the needs and requirements of all customers and consumers in the world.It is going to face major challenges in countries like Iran and Iraq that have been having bad relationships with America. The company will also get difficulties in serving its customers found in war torn areas like Zimbabwe, Somalia and other countries in war torn Ares. Since there is no peace in th ese countries, the company will face some challenges when addressing the needs of its customers from these countries. This company is promoting public trust in advertising in order to foster truth and accuracy of all its operations. Social-culturalThis company has earned a very good reputation offer the past. Here in America buyers and sellers have been able to trust each other through the services offered by this company. Many businesses have preferred this company because it denounces substandard behaviors within business setups. This company has also been liked because it encourages and supports best practices. The better business bureau ensures that high standards are set and maintained within business setups. This is a business trait that most business men prefer while running their businesses.Most businesses are performing to the expectations of the better business bureau company. They are following the teaching of the company. Buyers and sellers especially in America and Euro pe have started having trust of each other. These businesses have attained the standards set by the company. This has shown that this company is attaining its main vision of forming an ethical market place where buyers and sellers can trust each other. Hence this company has a good future; it stands a better change of attracting more business members and international organization to join it.Further still some factors in the industry’s environment like customer’s competitors and suppliers also affect the operation of business. Customers The customers of better business bureau have rated the company highly. Due to this the company is enjoying a good reputation. The company offers best and quality services that can not be matched by any other company under this industry. The better business bureau company is seen as a market leader under this industry with a very good image to its customers. The company leads in quality of its services to customers in many aspects.The be tter business bureau has ensured that its business members attain high standards and maintain them. The company offer teachings on how to improve performance in businesses to its 380,000 business member and 133 international organizations that are found in different parts of the world. The customers of the company are proud of its performance since the company is involved in solving a series of cross-border disputes. Customers in countries like Japan, Israel, Taiwan and UK have benefited from this cross-border dispute resolution agreements.The business members to the better business bureau have benefited from its international torch award for market place ethics. This has benefitted them because this system measures how business people treat their customers, competitors and employees. This encourages good and acceptable business traits that benefit the customers of the company. The customers of better business bureau are enjoying its services because by the clicks of a button one is able to access all the information that he needs. Through the internet customers of the company get all the necessary information without travelling their.The company has benefited many groups of People in the community. The company has promoted charity accountability, though the company many donors respond wisely to charity appeals. Some deserving students have been receiving scholarships. This company has greatly assisted many students who could not afford paying for their school fee. The better bureau has been a key advisor to its customers relating to teamwork, respect, trust, excellent and integrity thus making its customers to have great confidence on the company.Competitors Within America this company is facing competition from a few companies. But these companies are not well established. They lack funds so as to compete favorably with the better business bureau. These companies also lack a good business base so as to compete with the better business bureau. They lack enoug h and qualified staff so that they will compete properly with the better business bureau. Suppliers The better business bureau has many employees that are also competent.The company as been able to introduce many programs like better business bureau online, better business military line, better business international torch award for market place ethics because it has a well trained workforce. The company is also introducing other program like the better business bureau auto line, and the national advertising division that are geared towards appealing to the daily needs of its customers. Through the auto line teachings proper vehicle maintenance skills are offered, and also though advertising division the company is promoting good advertisements within the industry.REFERENCES Armstrong G. & Kotler P. (2007). Consumer Markets: Influences on consumer behavior, Principles of Marketing. ICMR Case Studies and Management Resources. (2007). Consumer Behavior. Retrieved January 20, 2008 from http://www. icmrindia. org/courseware/Consumer%20Behavior/CBC03. htlm Kotler, P. (2005) Principles of Marketing. New York. Melbourne Press Schaik J. L. , (2002); The Task of Marketing Management; J. L. van Schaik (Pity) ltd Winer, R. S. (2007). Marketing Management, Prentice Hall, Upper Saddle River, NJ.