Unit 4 assesment Coursework Example | Topics and Well Written Essays - 1000 words

Unit 4 assesment - Coursework Example Proper resource allocation enhances the performance of a project. Allocating resources for wrong ideas leads to project failure and is considered wastage of resources. In addition, Project managers should assign resources within the project in the right manner. This helps to avoid incurring losses and large operation cost. Currently, the economy is collapsing due to poor management in various financial sectors. This has led to tough competition, especially, in relation to financial resources. Most of the businesses experience increased operation cost. Therefore, there is a need for companies to limit budget for their projects. They can only do that if project manager avoid wasting or misusing any material through proper resource allocation (Gilbert & Bower, 2007). Time is one of the important natural resource for a project. Approximately, 80 percent of total projects in a company offer project managers a minimum timeline for their completion (Gilbert & Bower, 2007). The project manager should, therefore, divide all project activities on a daily basis to meet the time deadline of the project. In addition, the project manager can use critical path methods to determine the right time to allocate every project activity and ensure that they are completed in time. The project manager should not waste time. Proper time allocation, help the project manager to set a duration that each project activity will take and meet the deadline of the project even when any problem arise in the process of implementing the project. There is a need to allocate the right human resources within a multiple project environment. This assists in proper distribution of specific knowledge and skills within the project, hence improving its performance. In addition, proper allocation of human resources makes it is easier for a project manager to come up with a flexible daily plan for the project (Gilbert & Bower, 2007). Project

The Black Balloon Essay Essay Example for Free

The Black Balloon Essay Essay INTRODUCTION: The Black Balloon directed by Elissa Down is a film about a family living with an autistic son. Throughout the movie, Thomas feels embarrassed being Charlie’s brother, he feels left out not only at school but at home too. Thomas is the main focus of not fitting in but he is not the only character that feels like he doesn’t belong. Thomas’ brother Charlie may not be able to act or speak like other people do but Charlie still has feelings and does feel out of place by having a disability. The family also as a whole deals with judgemental neighbours and people always staring and judging before they know the full situation. Thomas is not the only one dealing with issues and feeling like the odd one out, other characters have the same feelings too and hopefully they can work them out together along the way. PARAGRAPH 1: Thomas not fitting in Throughout ‘The Black Balloon’, Thomas is the odd one out. Starting off as the new kid at his new school where Thomas is already feeling like a fish out of water. Barely able to swim, hand held camera shots go under and above the water showing that swimming in a struggle for him. A mid shot is also shown of a group of students grouped together and Thomas is separate on the side showing he is isolated from the people at his school. Not only is Thomas left out at lifesaving classes but at home too. In the film camera shots are used to show how Thomas feels when his parents put Charlie, his disabled brother’s needs first. When Thomas asks for the milk we see a mid-shot of the milk bottle with Thomas in the background. The milk bottle does not move because Charlie needs attention and Thomas continues to look at the bottle, looking very upset. Thomas is so ashamed of Charlie having a disability and this was demonstrated when he uses words to describe Charlie like â€Å"He’s a freak†. This also becomes clear when Thomas sees a group of students making fun of the Autistic bus, a far away camera shot is captured, showing that Thomas is feeling embarrassed by his brother because he is  different. By t the help of Jacki, she lets him understand and accept his brother and lets Thomas realise that he is never going to change and should start accepting Charlie for who he really is. PARAGRAPH 2: Charlie not fitting in Charlie has been autistic his whole life and he can’t control his actions and communicate in the same way as others. Even though having someone in your family with a disability would be very hard and stressful, the film tells the audience that it isn’t Charlie’s fault he acts this way. ‘The Black Balloon’ makes the viewer realise that Charlie is still a person and has feelings. Charlie may always be the centre of attention but at times he knows when he doesn’t belong. This was revealed when Charlie visit’s Thomas school and automatically feels out of place. Other students call things like ‘spastic’ straight to Charlie face, making him feel uncomftable and scared. Just because Charlie has a disability, doesn’t mean he’s not human. All people have feelings and emotions and although he may not be able to express himself like others, he can tell when he is different or feeling left out. PARAGRAPH 3: Family not fitting in From the moment the Mollison family move into their new home, they are judged almost instantly due to Charlie being different. Close up shots of the neighbours looking through the windows and through their fences judge the family without knowing the full reason and situation. Neighbours judged the family by asking Thomas questions like â€Å"Why’s your brother a spastic†. Also when Charlie has a tantrum at the supermarket we see long shots of other shopper’s faces as they go in silent and stare on with interest and amusement. These shots were effective in showing society’s attitude towards Autism because they show the looks that families with autistic children have to deal with. There is a lot of judgement from the public which the Mollison’s have to deal with being silently judged by the public nearly every day. CONCLUSION: Thomas is one of the main focus’s of being left out but other characters like Charlie and the Mollison family as whole also may feel out of place at  times. Thomas feels left out by not being able to swim and but by the end of the movie he achieves his bronze medallion. Thomas also feels ashamed having Charlie has a brother but he learns to accept Charlie for the real him. Charlie feels out of place when visiting the school and always being the odd one out, He may not be able to speak but you can tell by his emotions that he still has feelings. The Mollison family gets judged massively and this becomes clear when the general public stops and stares without knowing the full situation. ‘The Black Balloon’ shows that not everyone fits in but by the help of other characters and learning, they can all work together and not end up caring what other people think of them.

Free Essays - The Web of Life in All the Kings Men :: All the Kings Men Essays

The Spider Web of Life   Throughout the novel, All the King's Men by Robert Penn Warren, the characters are constantly feeling the effects of their action later in the book.   Every one of their sinister, sketchy actions were dealt with again later in the book and not in pleasant circumstance.   As Cass Mastern had figured out: †¦the world is like an enormous spider web and if you touch it, however lightly, at any point the vibration ripples to the remotest perimeter and the drowsy spider feels the tingle and is drowsy no more but springs out to fling the gossamer coils about you who have touched the web and then inject the black, numbing poison under your hide.(188-89) This quote is a major theme that is encountered throughout the book.   Jack and the Judge, here is where we mainly see the web at work.   Jack, at the request of Willie, went to dig up dirt on the Judge.   Jack finds so many things out and as he exposes it everything goes wrong, the spider got him.   When Jack reveals his findings to Judge Irwin, his father, he ends up killing himself before Jack has a chance to talk to him father to son.   Although, for the most part, Jack's goal as stated at the beginning of the book was that he was to pursue truth and knowledge, he needed to leave this alone because it was a pursuit of knowledge, but it had no positive motive behind it, and, as we have encountered in previous books throughout the year and throughout this one, truth is not always a good and noble thing.   In this case the truth led to what destroyed the Judge and Jack was pursuing the truth.   The Cass Mastern story provides an interesting parallel to the ongoing saga of Jack Burden and Willie Stark.   Cass is tormented, as Jack is, by the truth and this drives them both to the brink only Cass falls over and can not recover.   Cass hit the spider web when he committed adultery with his good friends wife and after this the venom never seemed to stop flowing.   He could not stop tormenting himself because the ripple in the web he caused had been so huge that it swallowed up his friend and destroyed him.   Cass could not correct what had been done and that destroyed him.   Jack, even though his ripple had also destroyed another, had the opportunity to redeem himself because, even though his action was bad, it truly was in the pursuit of the truth, which, by definition is good.

E-Marketing - Promotion and the Communications Process Essay -- Busine

E-Marketing - Promotion and the Communications Process Introduction In this assignment I will be using a case study to demonstrate an effective promotional campaign plan for the launch of a new e-business - selling wine over the internet. The name of the e-business will be 'The Wine Seller', which will help promote brand recall. This will also form the basis of the PR and Advertising campaign. The steps taken will include: * Promotion Plan/Objective * SWOT Analysis * Formulating a marketing and advertising plan * Setting the Marketing Objectives * Identifying the target audiences * Evaluating and implementing the communications mix The promotional campaign budget is  £500,000. 1. Promotion Objective & Plan 'The Wine Seller' is a small company offering high quality products to two main target markets. The main business objective is to generate awareness of the website facility to the existing customer base, respond to the needs of potential customers and generate awareness to both existing and potential customers. Therefore the main objectives of this promotional campaign are to: - * Create a brand image * Increase competitiveness * Improve efficiency * Add value for the customer To fulfil these objectives we need to improve communications, enhance customer service, increase sales, reduce costs and evaluate the impact. A promotional plan is critical for the development of a successful promotional campaign. The organisation should ask itself: -  · What are the overall goals of the promotional campaign  · What is the organisation trying to achieve  · What resources does the organisation need to achieve the objectives  · Which elements of the marketing mix are most appropriate We already have database information about the two main target markets. The information leads us to the conclusion that both markets demand quality, and a wide range of products. Quality and value for money rather than being the cheapest is more important to these markets. Therefore the market segment is described as demo geographic. The e-business wants to generate awareness amongst current and potential clients in both the hotel/catering industry and private consumers. The product the organisation has, is well established. The website will add value to the product and service delivere... ... 8 Sundays @  £25,000)  £200,000 Cost includes production Reprinting of all stationery  £ 15,000 Search Engine Optimisation & Data Mining  £ 5650 Wine Tasting evenings in Country House Hotels & Promotional offers  £100,000 Conclusion It is important to the marketer to understand how communication works in order to send the right message to the right people at the right time using the correct medium for the audience. It is vitally important that after a communicating that the results or findings are monitored and evaluated. Evaluation measures the success or failure of promotional campaigns. These promotions sometimes fail due to poor objectives and a poor understanding of customer needs and wants. Successful e-businesses realise the importance of integrating their offline and online marketing activities. Any promotional activity should run over a reasonable time scale in order that the receivers of the message recall the content. This helps reinforce the message and leads consumers to Purchase. The internet is the biggest library and storefront in the world and therefore an ideal platform to sell products and ideas and research competitors.

House of Mirth by Edith Wharton Essay

The House of Mirth is separated into two books of approximately equal length, with Book I having at least thirty more pages than the other. In the commencement of Book I, the central character, who goes by the name of Lily Bart is twenty-nine years old and gets acquainted with the fact that she is on the threshold of losing her influence to hang about in society by the desirable quality of her looks and charisma alone. She believes that getting married is her only way out. The itinerary of Book I describe Lily’s tribulations in accomplishing this goal. By the end, Lily has continued to exist after an attempted rape which nonetheless hurts her repute and causes her to be unable to find the high regard of Lawrence Selden and is desperately in liability. Book II, commences in Monte Carlo with additional and given up for lost scandal, moves to New York and additional debt. It ends in deficiency, lonesomeness, and an unintentional death that could without difficulty be called a suicide. Similarities The story presented by Edith Wharton is rather tragic. It is about a beautiful, high-spirited woman who is in dire need of getting over the manipulations of others and the extremely stern society around her. The only assets that the central character Lily has are her beauty and charisma. She is well-acquainted with the rules of the upper class New York society of 1905. Lily tells Lawrence that, â€Å"a girl must [get married] and a man if he chooses†. (Wharton, p. 165) Lily basically is totally dependant on her aunt for her financial expenses and believes that she should get married to a wealthy man as soon as possible. But, as she confesses, she always does â€Å"the right thing at the wrong time†. She is nearly married to about three different men who are pretty wealthy but she is not able to go ahead with it. She is in love with Lawrence, but considering the fact that he is not rich and has to work to make both ends meet, she does not even let herself imagine that she should marry him. She comprehends the susceptibility of her position she does not have any fortune of her own, and for that reason her reputation must be impeccable. The people that she is surrounded by have â€Å"minds like moral flypaper — they can forgive a woman anything but the loss of her good name. Unfortunately, Lily’s inherent honesty makes it impossible for her to realize the treachery and desperation around her. She makes some foolish choices: We resist the great temptations, but it is the little ones that eventually pull us down. † (The House of Mirth, p. 1). In both the movie and the book, perhaps her only mistake is that she ends up trusting all the wrong people. Because of this we can see in the movie and the novel that her reputation is looked down upon and she ends up owing a great deal of money to a man who misused her trust and made attempts to ruin her reputation. As is said, we witness in the movie that â€Å"by the time she is willing to accept the proposal of businessman Sim Rosedale (Anthony LaPaglia), he is no longer willing to offer her the position of wife, only mistress. Rosedale has a kind heart, and he likes Lily. But he is a businessman with ambitions of being fully accepted into society, and he can see that Lily is damaged goods. Perhaps her very willingness to accept him makes her less appealing† (The House of Mirth, p. 1). Lily realizes the sensitivity of her position in the society and she realizes that nothing she does would be right for her after she has been betrayed by nearly everyone and is shunned aside by her society. She now makes attempts in both the movie and the novel to support herself first as secretary/companion to a vulgar social-climber, then as an internee in a millinery shop. She makes one last exaggerated plea for help from her cousin, and also comprehends a drastic attempt at blackmail, but that is a â€Å"great temptation† she is able to resist. The movie definitely is a great adaptation of the novel written by the author with first-rate performances and extravagant details of that period. Edith Wharton’s 1905 â€Å"The House of Mirth,† apparently is a novel about early-20th century New York upper classes, and is really an outer-space story, and instinctively at least, the director Terence Davies seems to know it. In order to Wharton’s book to the display, Davies takes care to get all the accouterments right: the depressively sparkling balls and social gatherings of turn-of-the-century Manhattan society life, the faux-rustic lavishness of the nation state homes of the rich, the odd rules and regulations and subtexts prowling behind the way a woman might trip her delicately gloved hand into that of a man. In Wharton’s view, and in Davies’, it is an ambiance that is hospitable on the exterior but fastened with fatal gas, an accurate arrangement of molecules that looks for and finds and strangles the life out of foreign creatures, like Wharton’s great conqueror Lily Bart, who need air and brightness and love. It takes one beautiful alien to play Bart. Davies’ â€Å"The House of Mirth† is not anything like a science-fiction movie, for sure, apart from the way it uses ambiance to communicate a sneaking pastiness of claustrophobia and even danger. What is evident from the first frame, just like it is evident in the beginning of the novel by Wharton, is that Lily is a human being who just does not fit in this world. What is worst is that she herself believes and is convinced with this fact. The deception of the story, nevertheless, is that we are not in actuality sure about the origin of Lily; Wharton’s wrapping up is that there are no definable monetary, communities or devout divisions that are moderately right for her, and Davies’ movie, with all its miserable sophistication, incarcerates the real meaning of that peripatetic restiveness. A gorgeously beautiful but spinster woman of twenty-nine with deteriorating prediction, Lily has been raised to accept as true that luxury is exactly what she deserves. Hence, Lily lives further than her means, relying for the most part on the resentful contributions of her elderly aunt, Mrs. Peniston. All the lacking that Lily suffers because she does not have money, she makes up for in behavior of verbal communication and coquetry: she has the ability as well as the charm to turn any encounter into an enticing meeting. Nevertheless her game playing, as Wharton has written and as Anderson plays it, is not entrenched in heartlessness. It is more a particular kind of non-interventionist resourcefulness, such that her possible love interest and a little bit retribution Lawrence Selden are overwhelmed by it. â€Å"I always like to see what you’re doing,† he tells her only half-teasingly. â€Å"You’re such a wonderful spectacle. † (Wharton, p. 35) To keep herself buoyant economically, Lily is desperately in need of a husband, but she is disastrous in finding one due to the fact that, deep down, she knows she does not want one. She is most involved with Selden, a legal representative of self-effacing means who lives for books and fine art and a warm fire. But not even Selden is a sanctuary for her considering that he proves himself competent of devastating coldness. And after Lily unsuspectingly puts herself in a negotiative position with a married friend, Gus Trenor, she comes to realize that she will have to make her own money to support herself. The movie presents to us that Wharton’s book is not an assembling cry for women’s expressive and financial self-government. It is far more understated, and a lot less joyful, than that. But the narrative repetitively affirms the worth of that self-determination, exclusively by showing us how tantalizingly it is kept out of poor Lily’s reach. The movie incarcerates something of Wharton’s reticent tenderness and attractive rhythms in the way it sets Lily revolving on her unhurried spiral to calamity. The movie takes a few emancipations with the story, concentrating, for example, two of Wharton’s innovative characters into one. The movie â€Å"House of Mirth† is a dignified movie, sometimes too much so, moving with the momentum and sprightliness of a dowager aunt and the channel of communication, much of it taken straight from the novel is from time to time stiff and discomfited. But the movie does an unimpeachable job of screening to us, in the first half of the movie, both the mesmerizing comforts and the tediousness of the life Lily desires to, with its seamless drawing rooms and unnaturally effervescent parties. The second half is shadowy and more visually solemn, as Lily thrashes about to keep her existence together. But that pessimism makes it obvious that this less-glamorous continuation is not right for Lily, either. She can be considered an exotic bird, in poor condition for the filth and dirt of the everyday world but far too unexpected to be serving tea to rich, unintelligent gentlepeople. Lily, too contemporary, too fundamental and too beautiful, fits nowhere, in no detailed society, time or place (Zacharek, p. 1). Edith Wharton plots The House of Mirth on a sequence of meetings set in vibrantly distinct social settings. The first communal setting is Lawrence Selden’s residence at the Benedict and the convention is between him and Lily Bart. The second is the Trenors’ country house throughout a week-long party. In the pinnacle, Wharton shows with great power the sexual operation at the heart of the financial dependence of women. In the increasing action, Wharton sets up the rudiments of Lily Bart’s personality by showing her in stroke in a social situation which restrains her choices. In the lessening action, when Lily Bart has been evicted from the society that has prearranged her values, Wharton shows that Lily Bart is not ready to become accustomed to a dissimilar way of life. Lily Bart becomes a disastrous figure; trying with her imperfect moral possessions to live up to her intellect of what is right, even when it means facing impoverishment (Wharton, p. 25). Conclusion In the light of the above discussion we can hereby culminate that the movie and the novel namely The House of Mirth written by Edith Wharton has much in common.

The Impact of the Global Financial Crisis in Bangladesh Essays

The Impact of the Global Financial Crisis in Bangladesh Essays The Impact of the Global Financial Crisis in Bangladesh Essay The Impact of the Global Financial Crisis in Bangladesh Essay The Impact of the Global Financial Crisis in Bangladesh 20-Aug-2010 Prepared by Mojadda Alfa Azam ID. : 10916047 Dept. : Accounting Information System EMBA, DU Course name: Micro Macro Economics Course no. : 4102 Acknowledgements I would like to give thanks to Prof. Dr. Tahmina Khatun, professor of AIS Department, EMBA, DU, for her continuous guidance and supreme supervision throughout the course. I am solely responsible for any remaining errors. Finally all praise to Almighty Allah for giving us the strength and courage to complete the course. . Background and Objectives Political instability, natural disasters, the global food and fuel price hikes: Bangladesh’s economy has withstood several challenges since 2006. The global financial and economic crisis is another challenge that is testing its resilience coming on top of the former adversities. The global financial crisis started in mid-2007 has culminated in widespread financial stress among major financial institutions si nce September 2008. The economic downturn has now degenerated into recession. Projections of the gross domestic product (GDP) provide a gloomy picture for 2009. The 2009 world growth forecast has been revised downward by 1. 0-1. 5 percentage points to -1. 0 to -0. 5 percent in March 2009 compared with the last IMF projection of 0. 5 percent made in January 20093. While developed countries were the first hit by the recession, developing and least developed countries (LDCs) have also started to feel the consequences of the crisis on commodity prices, trade volumes, access to international financial markets and job losses, though to various degrees. These developments have led to shifting the debate from the causes to the consequences and policy actions required to mitigate the adverse impacts of the crisis. 1. 1. The Legacy of the High Food Prices As most of the developing countries, Bangladesh has no hiding place as the impact of the global financial crisis could compound the impacts of the food price rises. Although the recent food security situation cannot be attributed solely to the food price rises, there is evidence in the literature that the food price crisis has sent a substantial number of households back to poverty, after a decade of progress. The recent joint WFP/UNICEF/IPHN household survey suggests that 25 percent of the population has become food insecure as of December 2008, as many as the food poverty percentage of 1995-96. The most affected households are overwhelmingly headed by female (38 percent food insecure), they have higher dependency ratio (45 percent), the head of households are less educated (70 percent), and they have less assets (asset score of 4 against a national average of 9. 4). In terms of livelihood, household have barely 1 income earner (1. 8 on average), depend on agriculture wage labor (23. 7 percent), non agriculture wage labor (19. 1 percent) and casual labor (5. 2 percent). Most of them are landless (48. 6 percent) and net food buyers (39. 6 percent). The highest increases in the proportion of net food buyer households are non-agriculture wage laborers (59 percent), remittances earners (53 percent) and casual workers (55 percent). Female headed households included a much higher increase of th e proportion of net food buyer (64 percent) compared to male headed households (26 percent). On average, households spend 62. 2 percent of their budget on food, up from 52 percent in 2005. Unfortunately, such an increase of the food budget share is made possible at a high opportunity cost, using multiple coping mechanisms. In addition to eating less than 3 meals a day for adults and less than 4 meals a day for children under 5, 22 percent of households recourse to negative coping mechanisms such as cutting expenditure on health and 33 percent of them getting further indebted from the financial institutions. As a consequence, severe malnutrition rates increased. Severe acute malnutrition rate increased to 3. 4 percent in end-2008 from 2. 9 percent in 2007; severe underweight increased from 11. 8 to 12. 3 percent; and severe stunting increased from 16. 1 percent in 2007 to 20. 1 percent in end-2008 While the recent downturn of commodity prices may be seen as a relief for some of the affected households, the recession is likely to further worsen the situation of the most affected households who depend on agriculture and non-agriculture wage labor and casual labor. A review of literature by the Centre for Policy Dialogue (CPD, 2009) reveals that the most vulnerable areas to the global financial crisis in Bangladesh are likely to be export- oriented sectors, manpower export, remittance and domestic resource mobilization. The livelihoods in these areas are the most affected by the food price rises. Bangladesh’s foreign exchange rely mainly on workers’ remittances (10 percent of the GDP) and ready-made garment (RMG) exports (more than 75 percent of total exports). 1. 2. Objectives of the Case Study Against this background, WFP initiated a rapid assessment of the impact of the financial crisis on households’ food security and livelihoods to enable better preparedness and appropriate and effective responses. This rapid assessment is part of a series of WFP country case studies to elicit how the global financial crisis is manifested in Bangladesh at macro-economic level as well as how the macro-level impacts are manifested on households’ living conditions4. More specifically, the assessment aims at: Understanding how the global financial crisis is being transmitted to the Bangladesh economy, particularly the performance of the channels through which the crisis is being transmitted. Assessing the extent to which the pass-through effects is trickling down at the household level, through key indicators such as remittances, wages, employment and commodity prices and ultimately the living conditions of households. Proposing actions to streng then responses and monitoring. 2 Methodology and Limitations In order to capture the impact of the current global financial crisis on households both secondary data analysis (SDA) and primary data collection are conducted. The assessment reviewed secondary data available and then conducted primary data. 2. 1. Data Collection, Collation and Review The SDA reviewed literature on the impact of the global financial crisis both at macro-economic level and on households’ incomes sources and food security. This information was used to provide an overview of the macro- economic vulnerability with insights into the country’s recent macro-economic performance. The macro-level analysis also aimed at gaining insights into how the global financial crisis transmits to the domestic economy. Key informants (KI) interviews were held from 12-18 March with senior government officials, development partners, NGOs, research institutions and leading members of the private sector (annex 1) to triangulate the secondary data review. The primary data collection was carried out through focus group discussions (FGD). The FGD helped to apprehend how households have been affected so far by the global financial crisis. They provided perceptions of vulnerability, including sources of incomes, expenditures, coping strategies, priority needs and responses, discriminated by sex. They also guided the discussions on the changes which occurred within the last few months. The field work took place between 22 March and April 04, 2009. Forty FGD were held (annex 2). Survey areas were identified through literature review of the dominant livelihoods that are most likely to be affected by the global financial crisis. Hence, areas with high concentration of migration and dependent on remittances in the North East and South East, areas with high concentration of agricultural labor and cash crops such as tea estates in the North East and shrimp farms in the South West and areas with high concentration of non agricultural unskilled labor (e. g. , garment industry) of the two biggest cities Dhaka (capital city) and Chittagong where selected. Two more locations were selected in Khulna and Rajshahi as control groups in both rural and urban areas to represent other categories of casual labor. From each selected location, two FGDs (female and male) were selected and interviewed separately. FGD participants were identified with the help of key informants (village heads, health and education workers, government employees) in each selected location. A team of five members comprising a supervisor, an organizer, a moderator, a note taker and a field writer interviewed the FGD participants. FGD materials included voice recorders and note books among others. A total of 304 individuals participated in the FGD discussions with an average of 8 participants per FGD. Table: Summary of FGD Composition Number of |Number of FGD |Number of | |participants per | |individuals | |FGD | | | |6 |8 |48 | |7 |7 |49 | |8 |19 |152 | |9 |5 |45 | |10 |1 |10 | |40 |40 |304 | |Average size of FGD = 8 | 2. 2. Limitations The findings of this study cannot be generalized to the whole population, mainly because of the purposive nature of sample and the small number of people participating in the survey. T he survey is designed to draw upon respondents’ perceptions of the impact of the global financial crisis. However, the possibility of multiple understandings of the situation makes it difficult to articulate the findings. The validity of the results may also be affected by ability of moderators to have control over the discussion process with participants. The moderator has to allow participants to talk to each other, ask questions and express doubts and opinions, while having very little control over the interaction other than generally keeping participants focused on the topic. By its nature focus group research is open ended and cannot be entirely predetermined. To reduce such a potential bias, the moderators received a 4-day training to facilitate recall and quantitative estimates to improve internal validity. The checklist was also translated into Bangla to improve interactions between the moderators and the participants and among participants. The reliability of focus groups’ perception may be weakened by internal cultural and hierarchical dynamics and lack of confidentiality within the group. As a result full participation of all may not have been ensured by the moderators. The effort made to select homogenous groups both by sex and livelihoods aimed at reducing this bias. 3. Macro-Economic Performance and Impact of the Global Financial Crisis 3. 1. Recent Economic Developments 3. 1. 1 GDP Growth Performance In recent years, Bangladesh enjoyed a substantial growth of the real GDP. The GDP growth stood at 6. 2 percent in FY08, slightly below the 6. 4 percent growth recorded in FY07. The GDP growth in FY08 was led by substantial growth in industry (6. 9 percent) and services (6. 7 percent) sectors while the agriculture sector grew by 3. 6 percent. However, in the backdrop of the current global crisis, there are some indications of uncertainties about the growth projection in FY09. Although the global financial crisis is yet to significantly affect the Bangladesh economy, all the projections converge on the fact that the GDP growth will be lower than the initial projection of 6. 5 percent in FY09 (annex 3). The central bank of Bangladesh (BB) and the Ministry of Finance (MoF) set an optimistic target of the GDP growth of at least 6. 0 percent. The GDP growth of 4. 5 percent (lower than its earlier projection of 4. 8 to 5. 4 percent) projected very recently by the World Bank (WB) is the most conservative one. The latest projection of the annual GDP growth (5. 6 percent revised from its previous stand of 5. 5 to 6. 0 percent) made by Asian Development Bank (ADB) is between the government and the WB’s projections, based on recent signs of the impact of the global financial crisis on key sectors. 3. 1. 2 Inflation Patterns Although the trend in inflation is subsiding, it is still above the long-run path, making it difficult for the most affected and vulnerable households to cope with recent shockshigh food prices (2007-2008) and localized natural disasters (cyclone Sidr) in 2007. The 12-month average inflation stood at 8. 9 percent by end 2008 with a declining trend since August. While the softening of the inflationary pressure is likely to continue, it is important to keep in view that the current price fall in the global commodity market is largely due to changes in demand side factors while the global supply situation has remained unchanged. As such if the major economies, especially the advanced ones, succeed in recovering from the crisis within a relatively short period, the commodity markets may again experience tight conditions. It is also worth noting the potential disincentive of the price decline on domestic food commodity production. While the high food prices resulted in only a small percentage increase of the net sellers of food commodities (i. e. , 5 percent increase in the category of small farmers of 0. 5-2. acres), these winners are likely to become losers as a result of the global financial crisis. With the global financial crisis, potential income losses are also likely to affect the households identified by the recent WFP/UNICEF/IPHN as th e most affected by the food price crisis, namely non-agriculture, agriculture wage and casual laborers. 3. 1. 3 Performance of the Financial Sector The demand for credit has weakened between July-December 2008. The growth in the broad money (M2) at the end of December 2008 remained around the same level of 17. 6 percent in June 20085. However, both the domestic credit and private sector credit dropped significantly during the last six months reflecting weak credit demand in the economy. While the growth in domestic credit dropped to about 19. 3 percent in December from about 21. 0 percent recorded in June 2008, the growth in private sector credit mainly concentrated to trade and industry recorded a decline of about 3 percentage point to 21. 8 percent in December from about 24. 9 percent in June 2008. This pattern is an indication of relatively lower economic activities during the period. Interest rates such as deposits, lending, repo and reverse repo rates moved up relative to their levels in the first half (H1) of FY2008 6 . During the last six months, however, the Bank Rate (Discount Rate) and yields of government Treasury bills (T-bills)7 and bonds remained mostly unchanged. The commercial lending and deposit rates of the banks varied within a relatively wide margin during H1 FY2009 compared with the narrow margin variation during H1 FY2008. Commercial lending rate reached its peak of 13. 5 percent in December 2008 from a low of 12. 6 percent in September 2008. Commercial deposits rate, on the other hand, reached 7. 9 percent in December 2008 from 7. 3 percent in August 2008. Real lending and deposits rate exhibited increasing trend during H1 FY2009 due to the decelerating inflation rate of the period. The interest rates on the certificates of National Savings Directorate (NSD) for the duration of 3 and 5 years remained unchanged respectively at 11. 5 percent and 12. 0 percent during H1 FY2009. The major indicators of health of the banking system, such as the ratio of non-performing loans (NPLs), amount of actual provisioning, total deposits and advances, the ratio of capital adequacy, the interest rate spread (IRS), and indicators of profitability remained broadly stable and satisfactory during H1 FY2009. Given the low level of foreign capitalization, the countrys banking sector remained broadly unaffected from the ongoing global financial turmoil. However, it would be important to refresh the surveillance of the banking sector and revisit the financial sector management to counteract any potential adverse impact on the countrys banking sector. 3. 1. 4 Fiscal Performance During the July-December period of FY2009, the realized amount of revenue receipts fell short of its annual target. In the FY2009 budget, the target for revenue earnings was set at 11. 3 percent. During H1 FY2009, preliminary estimates show that total revenue and total expenditure stood respectively at 5. 9 percent and 8. 1 percent of GDP, resulting in a fiscal deficit of 2. 2 percent of the GDP (during H1 FY2009) against the yearly target of 4. 99 percent. The financing of the deficit amounted to Tk. 135. 8 billion of which Tk. 93. 1 billion was accommodated from domestic sources, including bank financing of Tk. 73. 6 billion while the remaining Tk. 42. 7 billion came from foreign sources. The implementation of the Annual Development Program (ADP) also remained very low at 1. 2 percent of GDP in H1 FY2009 compared with the yearly target of 4. percent of the GDP, due to slow execution rate of projects. The execution rate of the ADP is unlikely to improve beyond 70 percent by the end of FY2009 in June. 5 Broad money is considered to be the most inclusive measurement of the money supply in a given country. It involves the most liquid or cash components of money supply or non-ca sh components that can be converted into cash very easily. Broad money is a key economic indicator used to forecast inflation and the decisions of investors. 6 Repo (repurchase agreement) is a financial instrument used in the money market. It is a transaction in which one party sells securities to another while agreeing to repurchase those securities at a future date. Bangladesh Bank has introduced repo for banks and financial institutions, as an indirect monetary tool for day-today liquidity management to smoothen temporary and unexpected disturbances in the supply and demand for money. 7 T-bills (Treasury Bills) are short-term debt obligation backed by the government with a maturity of less than one year. 3. 1. 5 Performance of the Capital Market In the backdrop of the ongoing financial turmoil, investors shaky confidence might have played a role in the recent mixed performance of the capital market in Bangladesh. Stock prices showed significant upturn during the first half (January-June) of 2008 while the second half (July-December) witnessed a downward movement. Although the daily average turnover improved, different monthly average price indexes at Dhaka Stock Exchange (DSE) have declined, showing some fluctuations in 2008. Compared with December 2007, the monthly average of all share price index (DSI), DSEG, and DSE20 declined by 14. 1 percent, 12. 1 percent, and 8. 3 percent respectively in December 2008. 3. 2. Degree of Exposure to the Effects of the Global Financial Crisis The World Bank identified Bangladesh as highly exposed to the global financial crisis8. Almost 20 percent of the population was already leaving in the hardcore (i. e. food) poverty in 2005. The high food price crisis has sent ? of the population into food insecurity by end 2008. According to the World Bank, the capacity of the country to cope with the impacts of the financial crisis on poverty is constrained by limited leverage for larger fiscal deficits9 and moderate inflation at 8. 9 percent at end 2008. Despite efforts made by the government to mitigate the negative impacts of the high food prices on households, the implementation of the Annual Development Program (ADP) remained very low in 2008, raising some concerns about the country’s capacity to efficiently and effectively scale-up public expenditures to protect vulnerable groups and reduce poverty. Figure: Exposure of Countries to the Global Financial Crisis [pic] Source: World Bank, 2009 Bangladesh’s economy is increasingly exposed to global economic shocks, given its increased integration with the global economy during the last decade. The contribution of trade (export and import) increased significantly since 2001 from 33. 4 percent of the gross domestic product (GDP) to 43. 4 percent in FY2008. About 85 percent of exports are destined to developed countries and roughly 60 percent of import originates from those countries. Exports take up 20 percent of the GDP in Bangladesh. Ready-made garment (RMG) is the main driver of exports, with a share of almost 80 percent of total exports (i. e. 16 percent of GDP). Almost half of the exports go to the European Union (EU), while 25 percent goes to the United States (US). The dependence on foreign aid has progressively reduced since the 1990s, while foreign direct investment remains low at 1 percent of the GDP over the last decade (2000-2009). Table: Bangladesh’s Degree of Openness to the Global Economy | |FY1981 |FY1991 |FY2001 |FY2007 |FY2008 | |(Export + Import)/GDP |13. 5 |16. 8 |33. 4 |43. 3 |43. 4 | |Remittances/GDP |1. 9 |2. 5 |4. 0 |8. 8 |10. | |ODA Disbursed/GDP |5. 8 |5. 6 |2. 9 |2. 3 |2. 4 | |ODA Disbursed/Export |158. 1 |100. 9 |21. 2 |12. 9 |13. 3 | | | | | | | | |Foreign Direct Investment (FDI)/GDP |- |0. 1 |1. 2 |1. 2 |0. 8 | The contribution of remittances has more than doubled since 2001 from 4 percent of the GDP to 10 percent in FY2008. Bangladesh is a huge labor surplus country, putting it on the supply side of the global labor market and at the fifth position among the top remittance recipient countries in the world. As a result, the economy is heavily dependent on migrants’ earnings in the Gulf countries and Western countries. In FY2007-08, total remittances (i. e. , USD8 billion) accounted for 10 percent of the GDP. As per the latest statistics, 5. 5 million Bangladeshis are currently working abroad. About 65 percent of these workers are semi-skilled (16 percent) and low-skilled (49 percent). Two-thirds of the migrants work in Middle East countries, mainly in Saudi Arabia, Kuwait, Qatar, and United Arab Emirates (table 3). They constitute 25. percent of the total labor in those countries and contribute 63 percent of the total remittances inflow in Bangladesh. The remittances inflow from these countries doubled from USD2. 4 billion in FY2003-04 to USD4. 97 billion in FY2007-08, as a result of the construct ion boom in the Gulf, mainly Dubai. Table: Importance of Migrant Workers and Remittances | |Labor Force |Share of Bangladeshis in |Share in Total Remittance | | |(Million) |Labor Force (%) |Inflow (%) | |Kingdom of Saudi Arabia |6. 7 |27. |30 | |Kuwait |2. 2 |14. 2 |11 | |Qatar |1. 1 |10. 0 |4 | |United Arab Emirates |3. 3 |33. 4 |14 | |Bahrain |0. 5 |26. 2 |2 | |Oman |0. 9 |23. |3 | |Total |14. 7 |25. 3 |63 | The most recent data (July-December 2008) suggest that the pass-through of the ongoing global economic crisis into Bangladesh economy is real. Even though Bangladesh is not integrated to the global capital market, the economy is facing the second round effects of the global financial crisis. There is evidence that international trade, exports of manpower and inflow of foreign official development assistance (ODA) are being adversely affected (table 4). The major source of the potential adverse impact is emanated from the projected contraction of foreign aggregate demand. Recent trends in the volume of Cargo (export plus import) handled in the Chittagong (CTG) port decreased by 5. 3 percent during H1 FY2009. Table: Recent Developments in Trade, Remittances and Aid Flows | | | | | | | |Jul-Dec. 2008 |Jul-Dec. 2007 |Growth in |Growth in | | |(Provisional) |(Revised) |Jul. -Dec. 2008 |(FY08) | |1. Cargo (export plus import) handled in CTG | | | | | |port (000 MT) |13489. 0 |14244. 0 |-5. 3 |3. 4 | |2. Exports (fob) |7754. 7 |6495. 9 |19. 4 |15. 7 | |3. Imports (Settlement of LCs) |11115. 4 |9078. 4 |22. 4 |27. 6 | |4. Remittances |4504. 7 |3440. 5 |30. 9 |32. 4 | |5. Gross ODA inflow |898. 3 |903. 2 |-0. 5 |20. 4 | |6. Net ODA inflow |579. 6 |630. 0 |-8. 0 |25. 2 | |7. Foreign direct investment (FDI) |706. 0 |285. 0 |147. 7 |-18. 0 | |8. Change in reserve position |-361. 0 |437. 3 | | | |9. Change in exchange rate |-0. 42 |0. 3 | | | Sources: (1) Bangladesh Bank, (2) Export Promotion Bureau (EPB), (3) Chittagong Port Authority, and (4) External Resources Division (ERD) of the Ministry of Finance. 4. Perceived Impacts at Household Level Five divisions were covered namely Chittagong, Dhaka, Khulna, Rajshahi and Sylhet. To understand the impact of the global financial crisis, focus groups discussions (FGDs) were conducted in purposively selected locations to cover livelihood groups that are most likely to be affected by the financial, according to the macro-economic pass-through channels analyzed in previous sections. Hence, 40 FGDs were organized, 12 with remittance earners, 8 with garment workers, 12 with workers of export-oriented agriculture (shrimp and tea estate) and 8 control groups made up with casual workers not involved in the former activities (table 5). Overall, discussions did not reveal any major difference between control groups and other FGDs, suggesting workers of the most exposed sectors and casual laborers are similarly affected by the effects of the global financial crisis. Therefore, the next sections will not distinguish control groups from others. Given the small sample size, the next sections will not emphasize the analysis of the characteristics of individual livelihood groups either. Table: Geographical and Sectoral Coverage of FGDs |Sector of Activity |Division |District |No. FGD | | | |Sylhet Comilla Noakhali |4 | | | |Chandpur |2 | |Remittance earners |Sylhet |Maulvibazar |2 | | | | |2 | | | | |2 | | | |Dhaka |4 | |Garment workers |Dhaka |Gazipur |2 | | |Chittagong |Chittagong (Ctg) |2 | | | |Satkhira |4 | |Export oriented agriculture labourers (shrimp,|Khulna |Bagerhat |2 | |tea estate) | | | | | |Sylhet |Maulvibazar |6 | | | |Gaibandha |2 | |Control group rural (casual labour) |Rajshahi |Panchagarh |2 | | | |Rajshahi |2 | | |Khulna |Khulna |2 | |Total |40 | 4. 1. Impacts on Livelihoods and Incomes Based on discussions with the 40 focus group members, remittances are mentioned by 9 of 40 FGDs as the first income source of the communities, followed by unskilled non-agriculture daily labor (8 of 40 FGDs), work in tea estate (6 of 40 FGDs) and work in garment factories (4 of 40 FGDs). As the first source of income, 4 FGDs mentioned that remittances contribute to about 80 percent of their incomes. Unskilled non-agriculture dailylabor is the second main income source for 9 of 40 FGDs, , followed by agriculture daily labor (8 of 40 FGDs) and small businesses (6 of 40 FGDs). As a second source of income, the contribution of unskilled non- agriculture daily labor to income is estimated at 25 percent, according to 8 FGDs. Female FGDs reported more dependence on remittances as their main income sources, compared to male FGDs. Five of 20 female FGDs depend on remittances as their first source of income, compared to 4 male FGDs. Four female FGDs mentioned that remittances contribute to 80 percent of their incomes, suggesting female-headed household whose husbands are migrant workers are vulnerable to decreases of remittances. No male FGD reported such a high level of contribution of remittances to household incomes. Five of 20 female FGDs are also more dependent on unskilled non-agriculture daily labor as their second source of income, compared to 4 in 20 for male FGDs. By contrast, male FGDs are more dependent on agriculture daily labor (5 in 20 FGDs) as their second source of income compared to female FGDs (3 in 20 FGDs). In total, 4 in 40 FGDs mentioned work in garment factories as both their first and second source of incomes. Figure: Main Income Sources (Number of Respondent FGDs) Small business Day labor (agric. ) Unskilled day lab our (no n-agric. ) Earth-digging Fishing in deep sea/ river Garment worker Ho use-maid Skilled labour (non-agric. ) Remittance Rickshaw/ van/ cart puller Other services Tea worker Wood / bamboo/ f irewoo d seller Fish/ shrimp -processing worker There is a sense that activity changes witnessed by FGDs are being made at the expense of sustainable livelihoods. In response to whether households have changed activities in the past 6 months, 17 out of 40 FGDs (12 male FGDs and 5 female FGDs) answered positively. According to respondent FGDs, households most frequently changed their activity to daily labor, suggesting they are likely engaging in less regular livelihoods. The main reasons of livelihood changes are low purchasing power (9 FGDs) and reduced job opportunities (7 FGDs) suggesting households are likely facing the impacts of the global financial crisis on top of the lasting effects of the high food prices. Table: Activity Changes Observed over the Last 6 Months Before Type of activity change now Number of Respondent FGDs Earth-digging Selling firewood 1 Tea estate worker Earth-digging 1 Rickshaw-puller, Mason, Street-vendor Selling betel leaf and bidi (tobacco) 1 Day labourer 8 Agriculture farmer Day labourer 1 Unemployed Migrant worker 2 Worker in shrimp-hatchery Fishing in deep sea/river 2 Day laborer Small business 1 Total 17 4. 2. Impacts on Employment and Wages Job losses were mentioned by fish/shrimp processing, garment and migrant workers, though the magnitude of the losses is reported to be less than 25 percent, with 10 percent being the most frequently reported estimate. Of the 40 FGDs interviewed, 16 FGDs (10 male and 6 female FGDs) mentioned that job losses have taken place within their community during the last 6 months. Job losses were reported mainly in Chittagong and Khulna divisions, by 5 and 8 FDGs, respectively. In general, job cuts and reduced salaries are reported as the main reasons for job losses or for changing activities. Fish/shrimp processing workers are the most affected by job losses in Khulna due to diseases in hatcheries and reduction of exports. In addition job losses in the shrimp processing sector, especially in Khulna, are amplified by the normal seasonal break in shrimp producing activities. Reportedly, shrimp production covers only 6 months a year. As a result, workers in shrimp-hatcheries would normally seek additional jobs such as casual labor during the rest of the year. Salary decreases reported by garment workers are due to reduced buying orders from abroad and reduced payments on overtime. Job losses are engulfing the supply of labor as daily workers are also facing job scarcity, according to 5 FGDs interviewed in Chittagong, Dhaka, Khulna and Rajshahi. As shown in figure 10, most of the respondent FGDs estimate that job losses are below 25 percent, except in Khulna where half of them mentioned the percentage of workers that have lost their job during the last 6 months could range between 50 and 75 percent. In Chittagong, respondent FGDs of the garment sector tend to estimate job losses below 10 percent. Relatively high proportions (between 25-75 percent) of job losses were reported by only 1 of 6 FGDs of the garment sector in Dhaka and 1 of 6 casual labor FGDs in Rajshahi. However, these figures cannot be interpreted as a general trend of the responses emerging from discussions with garment workers and casual laborers in these areas 4. 3 Impacted by the food price shock By mid-2008, food prices had increased by more than 200% since 2006 and more than 60% since January this year Between March 2007 and march 2008, prices of corn, rice, soybean and wheat increased by 31,74,87 and 130% respectively Rice price passed US$1000 in April 2008 A large proportion of population depends on agriculture. Per capita food production has been low and negative. Proportion of claries obtained from cereals is high. [pic] Table: Food price contribution to consumer price inflation in South Asian countries, 2008 | | | | | |Country |Overall inflation |Food price |Expenditure |Contribution of food | | | |inflation(a) |share of |prices to overall | | | | |food (in %) |inflation(b) | |(1) |(2) |(3) |(4) |(5) | | | | | | | |Bangladesh (April 2008) |9. 94 |11. 84 |64. 5 |7. 64 | | | | | | | |India (February 2008) |4. 60 |5. 0 |33. 4 |1. 94 | | | | | | | |Nepal (April/May 2008) |7. 50 |10. 00 |53. 2 |5. 32 | | | | | | | |Pakistan (May 2008) |19. 30 |28. 50 |41. 5 |11. 3 | | | | | | | |Sri Lanka (June 2008) |28. 20 |40. 06 |46. 7 |18. 71 | Source: Statistical Departments and Bureaus of different countries, 2008. (a) Includes beverages and tobacco. (b) Column (5) entries are calculated as (5) = (3) ? (4)/100. Table: The Impact of Rising Food Prices: Bangladesh (CGE Estimates 60% Rise) Macroeconomic Variables The effect of increase in food prices General Price level 2. 6% Real household income -1. 61% Welfare (equivalent variation) -0. 905 Real GDP -0. 787 Source: Adapted from ADB (2008a). There has been a considerable amount of controversy and debate over the impact of food prices on the poor Country’s position as a net food importer or exporter HHs are net food sellers or net food buyers The share of food expenditure in total budget Food distribution system Infrastructure Government policies Table: Share of Food expenditure in Total Household Expenditure Country Overall Urban Rural Bangladesh Total expenditure share of food 61. 31 53. 13 63. 39 Total expenditure share of cereals 42. 22 32. 96 44. 58 Table: Share of Food Expenditure in Total Expenditure in South Asian Countries Bangladesh India Nepal Pakistan Sri Lanka Table: Average welfare gain/loss from a 10 percent increase in the price of main staple, by income (expenditure) quintile and land-ownership category Country |Per Capita Expenditure Quintiles | | |1 |2 |3 |4 |5 |All | | Bangladesh | | | | | | | |Landowners | | | | | | | |Non-landowners | | | | | | | | |-1. 22 |-0. 86 |-0. 29 |-0. 06 |0. 15 |-0. 34 | | |-3. 8 |-2. 92 |-2. 36 |-2. 04 |-1. 45 |-2. 60 | | Pakistan | | | | | | | |Landowners | | | | | | | |Non-landowners | | | | | | | | |1. 16 |1. 20 |1. 65 |1. 65 |1. 1 |1. 58 | | |-0. 66 |-0. 63 |-0. 49 |-0. 39 |-0. 15 |-0. 48 | Source: FAO (2008), p. 37 Response to Food crisis 1. Mitigation measures are necessary, but other interventionist policies had the effect of aggrava ting the problems for importing countries. 2. The resort to immediate trade restrictions by India and Pakistan highlighted the fact that SA remains a bastion of anti-liberalism. 3. Countries like SL introduce import restrictions when domestic food conditions are good and liberalize food imports during a crisis. 4. Experience in SA demonstrates that price controls do more harm than good. 5. The anti-liberalization reaction of governments to the food crisis was not a surprise (ex: trade restrictiveness around 46%). 6. Consumer and producer subsidies are not sustainable. 5. Perspectives and Ongoing Interventions 5. 1. Future Outlook and Scenario Although Bangladesh economy has not yet faced a substantial negative impact of the ongoing financial crisis, significant downside risks exist in the coming months. The overall macroeconomic outlook beyond FY2009 is difficult to predict as it is very closely related to the duration and severity of the current global crisis, natural calamities and their consequences on the economy. Available information indicates that external sectors comprising international trade, remittances, foreign aid and FDI are being affected by the ongoing global economic meltdown. Given the overall stake of total trade and remittances as a ratio of GDP (around 53 percent), the Bangladesh economy is likely to slowdown to less than 6 percent growth in FY200910. As warned by the IMF, activity is expected to expand only weakly in 2009 before recovering gradually in 2010 leaving no chance for Bangladesh economy to gain momentum before 2010. In the backdrop of the deceleration of export growth and the inflow of remittances, the current account as well as the overall balance is likely to deteriorate further from the current surplus position. This pattern is likely to lead to further depletion of foreign reserves. The contraction of foreign reserves will further depreciate the exchange rate of the Taka against major currencies. Domestic currency depreciation could lead to some losses of real income and purchasing power through inflation driven by imported goods. The fall in exports and remittances may have resulted in about 0. 3 million job losses in the last 6 months. There are around 3. 0 million people working in more than 5 thousands factories in the RMG sector alone. According to a preliminary estimate, around 20-30 percent of the factories do not have any direct foreign buyers. They just survive by executing sub-contracts of factories who have directs orders from the foreign buyers. As the direct orders for these factories from foreign buyers are drying up, the survival of the sub-contracting factories are in real danger. The current trend shows that the flow of sub-contract is likely to stop due to the global economic downturn. In this context, workers of the sub-contracting firms will lose their jobs immediately as witnessed already. From the above analysis, the most frequently reported estimate of job losses is 10 percent. Assuming the most likely scenario of job losses in the last six months is a 10 percent job losses, say in the RMG sector alone, around 0. million new unemployed people have likely been released in the Bangladesh economy. With an average of 1. 38 income earner per household of 5 in 2009, and 0. 3 million new unemployed workers, around 1. 09 million people (i. e. 3. 62*0. 30 million), are likely to lose their livelihood, with subsequent risks on access to health care, food intake, education, debt and access to other vital services11. The worst case scenario of 20. percent job losses as implied by FGDs would double the number of people whose livelihoods are endangered (i. e. 2. 18 million)12. Based on the most frequent estimate reported by FGDs, the optimistic scenario of 5 percent job losses over the last 6 months is unlikely. Expected increase of government spending (in the short term) in terms of rescue package including tax break, cash subsidies and food rationing programs to safeguard the external sector and socially vulnerable people, could lead to monetary financing of increased fiscal deficits beyond the fiscal deficit target of 4. 99 percent of the GDP. No inflationary pressure is foreseen in the short run because of the substantial decrease of the import bill in the aftermath of fuel and food price decreases. However inflation will be contained if and only if government spending does not exceed monetary targets. Provisional data show that the growth in tax revenue fell short of its target while expenditure showed high growth resulting in governments bank borrowing above the central banks monetary program target. This pattern is likely to affect negatively private investment through crowding out effect and inflation through seignoriage13. This may generate some pressure on the overall fiscal deficit by the end of the current fiscal year (June 2009), beyond the target of 4. 99 percent of GDP 5. 2. Ongoing Interventions of the Government The Government of Bangladesh maintains an extensive social safety net system designed to address mainly transient food insecurity, stemming from shocks and setbacks. The Public Food Distribution System (PFDS) is the Government’s main mechanism for addressing household level food access shortfalls. Public food stocks are maintained and used for both ongoing food-based development programmes and for emergency purposes during periods of acute or transitory food insecurity. Although the PFDS has numerous programmes or channels through which food assistance is provided; the bulk of assistance, which covers more than 30 million people, is provided via the following eight channels: ?OMS/Open Market Sales ?VGD/Vulnerable Group Development ?VGF/Vulnerable Group Feeding ?FFW/Food for Work ?TR/Test Relief ?GR/Gratuitous Relief ?Food Assistance for CHT Area. ?Cash for Work. In order to safeguard the income losses due to the global financial crisis, a decision has been made in March 2009 to scale up and extend the open market sale (OMS) program. The OMS is expected to provide subsidized rice to all workers in the RMG sector. This program is currently under review by the government. At the macro-economic level, the government of Bangladesh is closely monitoring the day-to-day developments in the major economic indicators. In view of improving the interactions between the business community and the government, a public-private business forum titled Bangladesh Better Business Forum (BBBF) was formed in November 2007. In March 2009, a broad-based national committee (27-member taskforce) was formed to follow the developments related to the ongoing economic crisis and suggest measures to address the adverse impacts on Bangladesh economy. In view of safeguarding Bangladeshs key exports such as readymade garments, jute, leather, and frozen foods, a stimulus/rescue package including some form of incentives through tax break, rate cut and cash subsidy are under active consideration. Besides, in order to protect the loss of future remittance flows, the government of Bangladesh is taking various steps such as facilitating faster and easy transfer of remittances through official channels, finding new labor export markets, and negotiating with migrant workers’ host countries to preserve jobs. On the other hand, the central bank of Bangladesh recently (March 11, 2009) reduced the repo rates by 25 basis points to 8. 5 percent to ease the lending capacity of the commercial banks. Besides, it has been decided to cap lending rate of all types of loans except credit card and consumer loans at 13 percent to offset the fallout of global meltdown. This rate cut is expected to boost credit to the productive and employment intensive sectors. In view of the losses incurred by importers as a result of the fall in global commodity prices (e. g. wheat, edible oil and pulses) and the difficulties faced by importers in honoring fresh letters of credit (LCs), the central bank has relaxed the conditions for opening fresh LCs from the existing 90 days time to 150 days. The central bank has also set up a Forex Investment Committee to monitor and manage the currency composition of foreign exchange reserves. The central bank withdrew about 90 percent of its total investment from international banks which were perceived to be at risk 6. Conclusions and Recommendations The importance of nonfarm and farm employment, including casual labor, in rural and urban areas alike, underscores the need for rapid job creation in services, manufacturing and agriculture sectors to mitigate the adverse implications of the ongoing global financial crisis. Although it is too early to have a thorough insight on the extent of the impact on household livelihoods and food security, the urgent need to take policy initiatives and actions to address the emerging challenges is justified by the fact that the impacts of the global food crisis are compounding the livelihood and food security situation of households most affected by the global food crisis, namely agriculture and non agriculture wage labor and casual laborers. In addition to the efforts being made by the government to mitigate the negative impacts on economic activities, mitigating actions could consider the following: Expand and accelerate social protection programs (e. g. nutrition and education) targeting better households most affected both by the food and financial crises such as female-headed households, agriculture and non-agriculture wage earners and casual laborers. Specific targeting of female-headed households reliant on remittances should be considered in specific areas such as in Sylhet division. Accelerate the implementation of the Annual Development Plan (ADP) in investing more in labor intensive income generating activities (e. g. asic infrastructure, water supply, sanitation, rural roads and electricity) to mitigate the impacts of job losses in economic sectors and the downturn of the export of migrants. Accelerate investment to increase productivity in the agriculture sector to face the lack of arable land and counter production disincentives that are likely to occur with the decrease of agricultural commodity prices as a result of the global economic downturn. Promoting continued productivity growth in agriculture is expected to improve agricultural wages to absorb migrant returnees and less-skilled domestic workers who have lost their jobs in the face of the financial crisis. Diversification into higher value added crops, use of new seed varieties, and technology are crucial in this respect (World Bank, 2008). At the household level, endowment in productive assets – both physical as well as financial (microcredit) capital could be considered as a means to help job losers and returned migrants to set up small businesses and cultivate land. There is a momentum for quality investment in migrant workers to reduce the predominance of less skilled migrant workers. While exploring new destinations for migrant workers, there is a general sense in the country that further effort is required to strengthen the skills of candidates for migration. This is seen as a means to increase the likelihood of protecting jobs abroad and entering a new era of quality migration in the aftermath of the global financial crisis. Monitor both macro-economic indicators and household food security and nutrition for early actions. At macro-level, the broad-based national committee (27-member taskforce) formed by the government is expected to follow the developments related to the ongoing economic crisis and suggest measures to address the adverse impacts on Bangladesh economy. To monitor the evolution of the macro-economic and sectoral performance, key signal indicators such as non-performing loans (NPLs), letter of credit opening (LC), utilization declarations (UDs), general inflation (food and non-food), exchange rate fluctuations, etc. should be carefully monitored. To see whether the slowdown of macro-economic indicators is affecting household food security and livelihoods, the macro-level monitoring should establish the implications for households, including fiscal implications for social safety programs. The micro-level monitoring could benefit from establishing the linkages between the macro-level and micro- level monitoring, by building on existing systems that monitor remittances, out-migration flows, flows of returnees, less-skilled wage rates in nonfarm and farm activities, staple food, cash and livestock prices, nutrition indicators, etc. In this context, a joint follow-up assessment could be envisaged in the second half of 2009 together with the government and others interested partners (e. g. FAO) to evaluate the magnitude of the impact of the global financial crisis on household food security and livelihoods, assuming the crisis will persist.

The Millikan Oil Drop Chemistry Experiment

The Millikan Oil Drop Chemistry Experiment Robert Millikans oil drop experiment measured the charge of the electron. The experiment was performed by spraying a mist of oil droplets into a chamber above the metal plates. The choice of oil was important because most oils would evaporate under the heat of the light source, causing the drop to change mass throughout the experiment. Oil for vacuum applications was a good choice because it had a very low vapor pressure. Oil droplets could become electrically charged through friction as they were sprayed through the nozzle or they could be charged by exposing them to ionizing radiation. Charged droplets would enter the space between the parallel plates. Controlling the electric potential across the plates would cause the droplets to rise or fall. Calculations for the Experiment Fd 6Ï€rÃŽ ·v1 where r is the drop radius, ÃŽ · is the viscosity of air and v1 is the terminal velocity of the drop. The weight W of the oil drop is the volume V multiplied by the density Ï  and the acceleration due to gravity g. The apparent weight of the drop in air is the true weight minus the upthrust (equal to the weight of air displaced by the oil drop). If the drop is assumed to be perfectly spherical then the apparent weight can be calculated: W 4/3 Ï€r3g (Ï  - Ï air) The drop is not accelerating at terminal velocity so the total force acting on it must be zero such that F W. Under this condition: r2 9ÃŽ ·v1 / 2g(Ï  - Ï air) r is calculated so W can be solved. When the voltage is turned on the electric force on the drop is: FE qE where q is the charge on the oil drop and E is the electric potential across the plates. For parallel plates: E V/d where V is the voltage and d is the distance between the plates. The charge on the drop is determined by increasing the voltage slightly so that the oil drop rises with velocity v2: qE - W 6Ï€rÃŽ ·v2 qE - W Wv2/v1

SUNY Albany Admissions Data and Acceptance Rate

SUNY Albany Admissions Data and Acceptance Rate With an acceptance rate of 54 percent in 2016, SUNY Albany is a moderately selective public university. Most students who are admitted have both grades and standardized test scores that are at least a little above average. Since Albany practices holistic admissions, the university also looks for students with meaningful extracurricular activities, volunteer experience, and strong writing skills. The school accepts both SAT and ACT scores, with the majority of students submitting scores from the SAT. To see how you measure up at SUNY Albany, you can  calculate your chances of getting in with this free tool from Cappex. Admissions Data (2016) SUNY Albany Acceptance Rate: 54  percentGPA, SAT and ACT graph for SUNY AlbanyTest Scores 25th / 75th PercentileSAT Critical Reading: 490 / 580SAT Math: 500 / 590What these SAT numbers meanAmerica East Conference SAT score comparisonSUNY SAT score comparison chartACT Composite: 22 / 26What these ACT numbers meanAmerica East Conference ACT score comparisonSUNY ACT score comparison chart SUNY Albany Description Located in the capital of New York State and founded in 1844, SUNY Albany has a rich history and strategic location. It is also one of the top research universities in the states system of higher education. The university offers over 100 majors and minors, and over 300 study abroad programs through the SUNY network. For its strengths in the liberal arts and sciences, SUNY Albany was awarded a chapter of  Phi Beta Kappa. The universitys academic programs are supported by an 18 to 1 student / faculty ratio.  In athletics, most SUNY Albany teams compete in the NCAA Division I  America East Conference. Football competes in the Division I Football Championship Subdivision Northeast Conference. Enrollment (2016) Total Enrollment: 17,373  (13,139 undergraduates)Gender Breakdown: 51 percent male / 49 percent female95 percent full-time Costs (2016-17) Tuition and Fees: $9,223  (in-state); $24,303 (out-of-state)Books: $1,200 (why so much?)Room and Board: $12,942Other Expenses: $1,745Total Cost: $25,110  (in-state); $40,190 (out-of-state) SUNY Albany Financial Aid (2015 -16) Percentage of New Students Receiving Aid: 81  percentPercentage of New Students Receiving Types of AidGrants: 64  percentLoans: 63  percentAverage Amount of AidGrants: $9,147Loans: $7,289 Academic Programs Most Popular Majors:  Accounting, Biology, Business Administration, Economics, English Language, History, Interdisciplinary Studies, Political Science, Psychology, Sociology, Speech and Rhetorical StudiesWhat major is right for you?  Sign up to take the free My Careers and Majors Quiz at Cappex. Graduation, Retention and Transfer Rates First Year Student Retention (full-time students): 84  percentTransfer Out Rate: 27  percent4-Year Graduation Rate: 56  percent6-Year Graduation Rate: 66  percent Learn About Other SUNY Campuses: Albany | Alfred State |  Binghamton | Brockport | Buffalo | Buffalo State | Cobleskill |  Cortland | Env. Science/Forestry | Farmingdale | FIT |  Fredonia | Geneseo | Maritime | Morrisville |  New Paltz | Old Westbury | Oneonta | Oswego | Plattsburgh | Polytechnic |  Potsdam | Purchase | Stony Brook Intercollegiate Athletic Programs Mens Sports:  Football, Track and Field, Cross Country, Baseball, Basketball, Soccer, LacrosseWomens Sports:  Soccer, Tennis, Volleyball, Golf, Field Hockey, Basketball, Softball, Lacrosse SUNY Albany and the Common Application SUNY Albany uses the Common Application. These articles can help guide you: Common Application essay tips and samplesShort answer tips and samples Data Source: National Center for Educational Statistics

Discussion Board 1-2 Essay Example | Topics and Well Written Essays - 250 words

Discussion Board 1-2 - Essay Example This generally relates to the fact that crises often involve numerous problems that have different magnitude and require different techniques to handle longitudinal effects. Crisis intervention theory is not specific in defining the exact strategies to handle crises. The theory also does not present unique strategies that are absent or untouched by other standard psychotherapeutic theories. Critical analysis and study of crisis intervention theory confirm that many and common views touched by other theories such as Systemic, Cognitive Behavioral, Attachment, Psycho educational and Psychoanalytic are present in it. Furthermore, the fact that crises result to various and different conditions makes it necessary to recognize the appropriateness (Jackson-Cherry & Erford, 2014). Some victims of the Hurricane Katrina suffered from cognitive problems probably due to overwhelming distresses. To overcome such conditions, Cognitive Behavioral Therapy may be necessary to understand the situation and conduct effective recovery plan (Jackson-Cherry & Erford, 2014). Some crises such as raping and sexual assaults have threatened to destabilize family systems leading to crises. Crisis intervention theory in isolation lacks proper frameworks to resolve such problems. This makes Systems, Ecosystems, and probably Structural theories important tools to analyze the underlying circumstance and design coherent and relevant

Stakeholder in the Information System Assignment - 31

Stakeholder in the Information System - Assignment Example Consulting stakeholders, when it comes to redesigning a new system, is extremely essential in a business (Lejk and Deeks 16). Stakeholders, in system analysis, are the individuals who determine the main requirements, which should be met by the whole system so as to meet the wants of the sponsors, customers, as well as the users. Also, the aim of redesigning a new system is to do away with the inappropriate technologies, which limit the productivity of the current system. Stakeholders, in system analysis, know the best technology, which will work appropriately with the new system (Lejk and Deeks 16). They can help design the proper system, which will assist them in their dealings. (iii) Consider the college-wide IT infrastructure. If you were a systems analyst in the college investigating wireless access, list a non-technical and technical user who you would consult as part of your investigation. For each user, outline three (3) issues you might want to discuss with them in an interview. Some of the issues that I could discuss with the non-technician user are how to interact with customers, who to interact with designers, as well as assisting programmers to during the design of the system. A non-technician user, to information systems, mainly deals with the nontechnical part of the system and who I could be maintained (Lejk and Deeks 27). Therefore, a nontechnical user will assist me in learning how to relate to clients and how to document their requirements, which are mainly used to create business requirements and dealings. Also, a nontechnical user will assist me in interacting with designers in order to understand the limitations of using system analysis (Lejk and Deeks 27). A technical user, in system analysis, on the other hand, would help me understand the technical part of system analysis (Lejk and Deeks 28). Some of the main issues, which I could ask the technical user, are how to plan a system flow from the beginning, how to perform a system testing and how to deploy the completed system.  Ã‚  

Professional Music Reviews Essay Example | Topics and Well Written Essays - 500 words

Professional Music Reviews - Essay Example Music is categorized on the basis of its musical compositions which tell the audience if it is a country music or pop, jazz or rock, classic or reggae. The second common element between all the music reviews is the â€Å"basic introduction† of the music album that is under review. Basic introduction gives the audiences an idea about the singer or the band, their popularity ratio and the number of hit tracks produced by them. Music reviews as published in Kansas City and Metacritic discuss the music albums track by track and according to the musical composition. Every single track in the album is reviewed by the critics in depth. From lyrics to musical composition of all the songs are discussed step by step. Comparison of under reviewed music with other contemporary singers or bands is another essential element of these music reviews. Strong content, information on music and poetic terms play an important role in writing a professional music review. It is important to understand the value of a professional music review which not only gives the audiences complete information on a specific piece of music but, also creates interest in their minds. Thriller is a masterpiece album composed and launched by the King of Pop, Michael Jackson. Thriller is another pop album produced by the King of Pop which will always be remembered for years. Michael Jackson proved his excellent command over pop music and beautiful compositions that helped him turned into a music legend. In short we can say that, Thriller is one of the best albums which gave a sudden boost to MJ’s musical career. As soon as Thriller was released, this magnificent album broke all the records of popularity and stayed on musical charts for about 80 weeks (Erlewine). Thriller has proved itself as one of the â€Å"most in-demand musical album† all round the world. Thriller holds different

New Tack in Teacher Education Essay Example | Topics and Well Written Essays - 3000 words

New Tack in Teacher Education - Essay Example Once a would-be teacher passed this set of criteria in the old days, a normal school, or a university offering the regular 4-year teacher education courses, proceeded to use these basic attributes as building blocks toward making the student teacher attain proficiency in the subjects considered as fountainheads of knowledge on teacher preparations: psychology, sociology and general education. In the traditional approach, that was all there was to teacher education. The assumption was that tutelage in psychology and sociology would sufficiently prepare student teachers for the tasks of reaching out to young people from diverse social classes with different beliefs, behaviors and mental constructs. General education, for its part, is the euphemism for the nitty-gritty, and more taxing part, of teaching - preparing lesson plans, checking test papers, evaluating pupils' performance, what to do with a difficult and rowdy class, handling slow learners. Under this assumption, teacher education hardly counted as a field of specialized study and as object of academic research. Teacher educators were not even asked to participate in research into their work (Korthagen, F., Loughran, J. & Russell, T., 2006). Only lately did policy makers, lawmakers and academic researchers begin to question the old notions of an effective teacher education program when confronted by repeated year-to-year reports of poor academic performance across the school systems. Something must be wrong in teacher preparations indeed when respectable publications like the US News and World Report play up stories like: as of 2000, 75 million American adults or 2 out of 3 Americans can't read adequately. It looks worse in less developed countries, such as one in Asia where it was reported that only one of five elementary graduates showed a passable competency in the five basic subjects of science, mathematics, English and writing. Bullough & Gitlin (2001), as cited in Korthagen, et al. (2006), confirmed that the traditional approach to teacher education was among the features of the educational system that needed an overhaul when the two academic researchers were asked to develop a new teacher education program from the old one. The research duo noted that the old TEP model they worked on was "disjointed, fragmented and confusing." The theory-to-practice view, the research team added, suffers from many limitations and inadequacies and is thus counterproductive. Another instructive indictment: the standard TEP model is irrelevant to the reality of everyday practice in schools. From these observations, the search for new ways of preparing teachers emerged. One of the persistent concepts that developed operates on the principle that knowledge (theory) should relate to experience and emotion (practice). This means that immersion in theory, on which traditional TEPs are focused, is not altogether bad so long as an equal emphasis is placed on practice. In other words, the more ideal approach is for theory and practice to go hand in hand so that when student teachers go out to practice their profession they know how to handle the problems of everyday teaching through theory-guided actions. This new tack in teacher education is reflected in TEPs that set aside rote recall in favor of understanding and application, giving due

Social Awareness Assignment Example | Topics and Well Written Essays - 750 words

Social Awareness - Assignment Example The wife would rest her hand on her husband’s shoulder when she wanted him to stop so they could go inside a store. The husband would always let his wife enter a store first before him. Either of them would shake their head if they did not like the other’s suggestion. The non-verbal signals did not appear to make the interaction between the two of them difficult even without words. 4. Their non-verbal communication made it easy for me to think they are married. I think couples who are married are always close to each other. Couples who are not married do not just hold hands. They have their arms around each other’s waist or on each other’s shoulders. This is why I formed this impression about them very fast. 1. The next interaction I observed was in the grocery store. It was also noisy at this place. There were noises coming from the cash register, public announcement system, music and grocers. I see a lot of families today. It is a Sunday. I chose a family of three. The father was carrying a baby and pushing a grocery cart. The mother was holding a pen and checking off of a list. I heard the baby crying so I chose them to observe. 2. There were many signals for non-verbal communication I saw. The baby was crying and the father was moving the baby up and down his arm. I think this was his way to make the baby quiet. The baby did not stop. The mother was frowning. She got a pacifier from the baby bag and gave it to the father. I watched the father’s mouth form the word â€Å"Sshh†. I think the noise of the mall made the baby uncomfortable. The behavior of the baby affected the mother. She started choosing things faster. 3. The interaction was informal. I decided this because the woman and man stood close to each other. Also, the woman touched the man’s hand or shoulder many times. She passed grocery things to him quietly and he put them in the cart. They looked very comfortable with each other. 4. I quickly

New Tack in Teacher Education Essay Example | Topics and Well Written Essays - 3000 words

New Tack in Teacher Education - Essay Example Once a would-be teacher passed this set of criteria in the old days, a normal school, or a university offering the regular 4-year teacher education courses, proceeded to use these basic attributes as building blocks toward making the student teacher attain proficiency in the subjects considered as fountainheads of knowledge on teacher preparations: psychology, sociology and general education. In the traditional approach, that was all there was to teacher education. The assumption was that tutelage in psychology and sociology would sufficiently prepare student teachers for the tasks of reaching out to young people from diverse social classes with different beliefs, behaviors and mental constructs. General education, for its part, is the euphemism for the nitty-gritty, and more taxing part, of teaching - preparing lesson plans, checking test papers, evaluating pupils' performance, what to do with a difficult and rowdy class, handling slow learners. Under this assumption, teacher education hardly counted as a field of specialized study and as object of academic research. Teacher educators were not even asked to participate in research into their work (Korthagen, F., Loughran, J. & Russell, T., 2006). Only lately did policy makers, lawmakers and academic researchers begin to question the old notions of an effective teacher education program when confronted by repeated year-to-year reports of poor academic performance across the school systems. Something must be wrong in teacher preparations indeed when respectable publications like the US News and World Report play up stories like: as of 2000, 75 million American adults or 2 out of 3 Americans can't read adequately. It looks worse in less developed countries, such as one in Asia where it was reported that only one of five elementary graduates showed a passable competency in the five basic subjects of science, mathematics, English and writing. Bullough & Gitlin (2001), as cited in Korthagen, et al. (2006), confirmed that the traditional approach to teacher education was among the features of the educational system that needed an overhaul when the two academic researchers were asked to develop a new teacher education program from the old one. The research duo noted that the old TEP model they worked on was "disjointed, fragmented and confusing." The theory-to-practice view, the research team added, suffers from many limitations and inadequacies and is thus counterproductive. Another instructive indictment: the standard TEP model is irrelevant to the reality of everyday practice in schools. From these observations, the search for new ways of preparing teachers emerged. One of the persistent concepts that developed operates on the principle that knowledge (theory) should relate to experience and emotion (practice). This means that immersion in theory, on which traditional TEPs are focused, is not altogether bad so long as an equal emphasis is placed on practice. In other words, the more ideal approach is for theory and practice to go hand in hand so that when student teachers go out to practice their profession they know how to handle the problems of everyday teaching through theory-guided actions. This new tack in teacher education is reflected in TEPs that set aside rote recall in favor of understanding and application, giving due

Extra cridit Essay Example | Topics and Well Written Essays - 1000 words

Extra cridit - Essay Example This is one of the most applied contemporary philosophies, since it explains human behavior, morality and decision-making. The theory classifies motives of people into three broad descriptions, which are the ego, the id and the super-ego. This theory also categorizes various personalities and answers the question why people are different. The main theory that guides this contention is determinism theory, which argues that the past, the present and the future are all interconnected. Arguably, another key theory that is also universally applicable developed by Sigmund Freud, is the human psyche theory. These theories are connectable to various political situations and numerous people have tried to implement these theories in a political context. By nature, most people argue that Sigmund Freud was a conservative. However, throughout his life, he underwent various first hand mistreatments from the politicians, such as the invasion of his house by Nazi Germany troops when he was in his la te seventies. Sigmund’s psychoanalytic theory holds a variety of views. Primarily, the philosopher indicates that the nature of decisions we make, or the type of personality we exhibit is located in three parts of our minds, which are the ego, super ego and the id. ... From the id, Freud introduces the ego, which operates under the principal of reality. In this contention, the philosopher argues that the ego works to satisfy the wants of the brain, through socially acceptable ways. As such, the ego is in touch with reality and functions to control our intrinsic desires to a context that is socially acceptable. From the ego, Freud then introduces the super-ego, which is more complex, and acquired as during a person’s lifetime. Behaviors that people in the society view as good or bad are inscribed in our super ego. Thus, the super-ego suppresses our morally unacceptable desires from the id and cultivates good behavior and morality from the ego. It thus works to ensure that the id operates under morality, and that the ego operates on idealism as opposed to reality. Though this is a psychoanalytic theory developed to assist people understand the various desires and personalities of people, it has been a guiding principle in the development of nu merous political philosophies. For instance, it is evident that theories such as idealism and realism are derived from this psychoanalytic theory. Freud’s introduction about reality and about idealism are the birthing principles for most political theories. Idealism and realism are two philosophies that could be held by leaders. The philosophy each leader holds determines the social and economic development limits of a nation. Idealists believe that things should be as one wants them to be, hence pushing people to pursue their desires in socially acceptable ways, whereas realism holds the argument that things have to be practical and pragmatic,

FIN 370 Week 3 Learning Team Assignment Essay Example for Free

FIN 370 Week 3 Learning Team Assignment Essay Learning Team: Current Market Conditions Competitive Analysis This paper will give a short history and descriptions of Apple’s I Pad minicomputer. It will also give factors that affect demand, supply, and equilibrium prices in the market. Issues that Apple faces that affect its competitiveness will also be addressed. Lastly, this paper will identify the long term profitability of the iPad including, price elasticity of demand, technological innovation, and cost structure. Steven Jobs and Steven Wozniak were friends in high school, which shared like interested in electronics. They designed what would become the Apple and on April 1, 1976, Apple Computer was born. This is an American based company located in California. Apple specializes in design advancing, and the sales electronics, computer software, and computers. Apple is accredited for some of the most popular products of the modern world of technology such as: iPod, iPhone, iPad, and iTunes. Apple has expanded its retail stores to fourteen countries worldwide with 408 retail store not to mention their online stores, Apple Store and iTunes. Apple’s value as of March 2013 is $415 million, and it is the largest most publicly traded companies. The iPad is a tablet designed minicomputer that was released in 2010 by Apple. This device has equipped with Wi-Fi and has a multi- touch screen. There are five different versions of this particular tablet. Each has the capability to play music, record videos, a camera function, browsing the web, e-mailing. Games, GPS navigation system, and social networking can also be downloaded to the device. A market is as a collection of consumers and retailers of a specific merchandise or service. Demand is the actual volume that consumers are prepared and able to obtain. Quantity necessitated is the demand at a specific amount and is symbolized as the demand curve. The supply of a product is the quantity that manufacturers are prepared an d capable to convey to the market the sale of  the product. The market can be analyzed by matching the supply and demand curve. Equilibrium is the connection of supply and demand curves. The equilibrium amount is the amount where the number demanded matches the number supplied. A change in price does not necessarily mean that the demand will change. It is more likely for the quantity demanded will affect the price. If the price is changed the curve will move along the demand curve. When the price is reduced the quantity demand will be increased. When the IPad was released, it was the only product in that market at that time. Therefore, at that time it absolutely controlled the tablet division. Some corporations tried to contend with Apple, but recognized their position just could not compete. The competition combated Apple by creating smaller tablet that is an unfamiliar place for Apple. This creation worked and caused Apple to lose sales. The competitors rapidly established their place in the market. Price elasticity of demand is an issue th at our organization, Apple faces that affects our competitiveness and long-term profitability with regards to the iPad. â€Å"Price elasticity of demand and supply tells us exactly how quantity responds to a change in price. As elasticity increases, quantity responds more to price changes. Demand or supply is elastic, if the percentage change in quantity is greater than the percentage change in price†(University Of Phoenix, 2010, pp. 154-157). After reviewing data, specifically targeted to the three types of iPads; their pricing, capabilities and memory storage, it was determined that if the price of the iPads increased; then the consumers may not purchase them (What Is An Apple Ipad’s Elasticity Of Demand?, 2012). The price elasticity of demand tells us that although apple is very technological innovative, but as it relates to price elasticity of demand; the quantity does not matter (all the changes, modifications, additions, advancements, etc.) consumers will still purchase the cheaper iPad (cost efficient) Apple should not invest in making more iPads. Consumer(s) can’t readily identify / understand the importance /significance of having more capabilities, memory, storage, etc. The consumer(s) would ultimately shop for and purchase the iPad that’s more conducive to their needs. Although apple has is very technological innovative, but as it relates to price elasticity of demand; the quantity does not matter (all the changes, modifications, additions, advancements, etc.) consumers will still purchase the cheaper iPad (cost efficient)  Technological innovation is an opportunity for our organization, (Apple) to face that affects our competitiveness and long-term profitability with regards to the iPad. Through technological innovation our organization will be able to make improvements to something that already exists; such as the Apple iPad. Is the improvement to something that already exists. Technological innovation will always have a huge impact on Apple Corporation. As it directly relates to the iPad, with the technological innovation, we are able to re-invest and re-invent the iPad. As with any product of this magnitude, the cost will increase, more features will be added, more storage, more variability, etc. As long as we are innovative and have a willingness to be creative we will consistently bring new items to the market that will steady intrigue the consumers and adapts to their technological needs. â€Å"Cost Structure (TC = FC + VC) is the costs of production, the identification of how costs associated with the production of a good or service are distributed throughout the process The cost structure consists of fixed costs, variable costs and total cost â€Å" (University Of Phoenix, 2010, pp. 283-285). According to Internal Factors: Costs (n.d.), When analyzing cost, the marketer will consider all costs needed to get the product to market including those associated with production, marketing, distribution and company administration (e.g., office expense). These costs can be divided into two main categories: fixed costs and variable costs†. Fixed costs are costs that are spent and cannot be recovered (rent, credit interest, maintenance costs, security and administrative expenses, often salary). The major factors affecting fixed costs are (1) Changes in business organization, (2) Changes in technology applied, (3) Sale of manufacturing equipment and (3) Decisions to undertake advertising activities, etc. Variable costs are costs that vary with production. Factors affecting variable costs, including productivity and others that change the supply of and demand for labor (internal factors), (1) Involve costs of items that are either components of the product (parts/packaging), (2) Directly associated with creating the product (electricity to run an assembly line), (3) Coupons and (4) Variable costs, especially for tangible products tend to decline as more units are produced. This is due to the producing company’s ability to pu rchase product components for lower prices since component suppliers often provide  discounted pricing for large quantity purchases (). Total cost the sum of all costs of inputs used by a firm in production TC = FC + VC Apple is one of the world’s most admired brands. Every year, as rumors about Apple’s products start to emerge web sites begin to speculate which suppliers are likely to win Apple’s business. Getting a contract from Apple can lift a company’s value by millions of dollars. On October 22 Apple released a variety of new hardware and software. Apple’s new iPad is clearly focusing on improving the iPad product profit margin, while also maintaining it strong market share. One of the ways Apple can maximize their profit is by reducing the price of the original iPad mini. Another recommendation that can maximize the profit for Apple is to also make radical improvements to the full-size iPad and the mini. Apple has four products in the iPad lineup. While Apple decided to keep the price of the iPad 2 at $399 Apple dropped the price of the IPad mini to $299. The newest iPad, the new full-size iPad Air is thinner and lighter than the previous full-size iPads and much more powerful. The new iPad Air will sell at $499, while the second new iPad tablet the iPad mini with Retina display will sale for $399. By Apple dropping the price on the iPad mini this move should help A pple maintain market share with it strong competition. Strong competitors like Google and Amazon have recently dropped the prices on their popular tablets. Android tablets such as Google and the Kindle Fire have been gaining on Apple over the past year with the lower prices and higher performance. The Kindle Fire HD sold for $139, this alone affected Apple’s revenue. The price decrease put Apple’s base iPad mini closer to the price of Google and Amazon’s top of the line tablets. Apple chose to drop the price of the original iPad mini tablets to maximize their profits with the competition. Overall by dropping the price, this will draw more individuals to the Apple iPad mini and increase Apple’s marginal revenues and profitability. This will keep Apple’s market share in competition with Google and Amazon without sacrificing too much profitability. Although, there are several competitors in this market; such as The Kindle Fire, The Windows Tablet, Galaxy Table, etc. none are able to uphold the standards that the iPad will carry. With all of our advancements in technology, research, investments, etc. we continue to be in high demand. If our corporation continues to be technological innovative and productive; then we will continue to grow and  c onsistently re-invent. We will be more profitable, growing and will remain cost efficient; when it comes to manufacturing and producing the iPad. Based on the current market conditions, our competitive market analysis concluded that the Apple iPad will be an extremely productive and very successful. References: Duhigg, C., Barboza, D. (2012, January 25). In, China, Human Cost Are Built Into an IPad, p. The iEconomy. Internal Factors: Costs . (n.d.). Retrieved from http://www.knowthis.com/pricing-decisions/internal- factors-costs Reisinger, D. (2013, October 22). IPad 2 Survives iPad Air, Still cost $399. CNET, p. . University Of Phoenix. (2010). Economics, Eight Edition. Retrieved from University Of Phoenix, ECO365 website. What is an Apple iPad’s Elasticity of Demand?. (2012). Retrieved from http://applecoeconomics.wordpress.com/2012/05/17/what-is-an-apple-ipads-elasticity-of-demand-9/