Viability of doing business in Brazil Assignment

Viability of doing business in Brazil - Assignment Example Global business competitive has taken a new twist where it has moved from inter-organisational competition to inter-country competition, and this is the observation of Accenture (2007). Clearly, there is so much justification in this observation with empirical records of economic growth of some major emerging markets, particularly those classified in the BRIC, namely Brazil, Russia, India and China. For example, Brazil’s trade investment is said to have jumped as up high as 50% in recent times. This report therefore looks into important factors that make Brazil viable for market expansion into that country. Any inconvenient factors shall also be outlined for further recommendations. Demographic Data of Brazil Brazil is a highly populated country with a population growth that continues to grow by the years. As of 2008, the PNAD had pegged the population of Brazil at 190 million people with a male to female ratio that is quite close, which is 0.95:1 (Kanter, 2008). Brazil benefi ts from a higher urban population which accommodates 83.75% of the total population of the country. Characteristically, business and economic development in that country is centred in the urban areas. Because of the higher urban population, this obviously means that there is a very active trade and business activity in the country that makes labour cheaper than compared to other developed countries (Colquitt, Lepine & Wesson, 2013). Quite unusually, there is less population concentration in the two most extensive regions of the country, which are the Centre-West and the North regions which have only 29.1 million inhabitants even though they encompass 64.12% of the country’s territory (Chen, 2008). Economic Variables Statistics from the World Bank and International Monetary Fund gives Brazil some of the most favourable economic ratings in the world and among their peers in the BRIC. For instance Brazil is ranked as the world’s 7th largest economy at market exchange rate s and representing Latin America’s largest economy with the world’s 7th largest purchasing power parity (PPP) (Hryckiewicz & Kowalewski, 2010). Brazil’s GDP given in 2012 by the International Monetary Fund was $11,875 which is contributed by a mixed economy. The mixed economic nature of Brazil’s economy is a major boost for all investors and entrepreneurs around the world who want to expand to that country, giving the assurance that there exist multi-variant areas in the economy where they can do business in. There is however exchange rate disparity with some of the world’s major currencies compared to the Brazilian Real, which gives exchange rate risk to most companies (Colquitt, Lepine & Wesson, 2013). Socio-cultural environment of Brazil Socio-culturally, Brazil operates a very open ended environment where the people are very open to socio-cultural changes and adjustments. Even though there are generally the high class and low class divisions, t he middle class seem to dominate the socio-cultural environment, helping to foster evenness between the rich and the poor. Popular culture has its roots in the socio-cultural make up of Brazil with so much dominance of this focused on sports following (Accenture, 2007). There are several social activities and programmes that bring people together such as naming ceremony, marriage, funeral, and parties. The reason for these socio-cultural characteristics could best be linked to the abundance of tourism in the country, which is patronised by both natives and foreigners. For the company, this will come as an advantage because it makes the people more spending focused and thus willing to do business without really thinking of spending as a waste (Pelle, 2007). Political-legal factors As part of a national consented effort to make Brazil an attractive global destination for doing business, there are several government interventions and programs that are aimed at making the country

Women and Mothers Essay Example | Topics and Well Written Essays - 1000 words

Women and Mothers - Essay Example his depicts mothers’ role as key advisors in their respective families, mostly comprised of instructing children on varied aspects that pertain to both moral and spiritual conduct. Therefore, it was the mandate of Carolingian women to instill both spiritual and societal morals among their children via emphasizing on the essence of God’s reverence in their lives. In Carolingian family, mother’s key role encompassed instructing children according to scriptural precepts. This was to ensure they embraced pious life while still young besides attaining other essential societal morals meant to help them succeed in their entire lives. Hence, ensure societal harmony and decency (Dhuoda 10). The entire book comprises almost of one persona, which is the mother who goes to the extent of elaborating what she says to her son. This is to ensure while William is young, understands well everything regarding earthly life besides benefits attached to being humble, respecting, obedient and Godly (Dhuoda 22). For instance, Dhuoda instructs William saying, If you love God with all your heart and study carefully the volumes of His scriptures in the Old and New Testaments, and if you do this reading with appropriate concentration, then the spirit of wisdom will come to rest upon you1. In addition, besides mothers instructing young ones to embrace piety, they emphasized the essence of children respecting their fathers (Dhuoda 22). This is via using examples from the Holy Scriptures that feature varied old patriarchs or saints who choose the same path and became successful, for instance, Isaac (Dhuoda 24). However, emphasis for mothers’ respect is not as per fathers’ in the entire book but calls for parents’ general obedience by their children. Hence, confirming the mothers’ role of instilling morals among their young children. This is also noticeable in the entire book, whereby there is no father’s intervention either in suggesting or indulging themselves with close

A Study On Common Assessment Framework Social Policy Essay

A Study On Common Assessment Framework Social Policy Essay This essay will discuss why Common Assessment Framework was introduced to Childrens Services, what it attempts to achieve and whether or not it has been successful, the concept behind it and briefly, the difficulties in working with other health professionals to get the Common Assessment Framework to do what it was set out to do. The Every Child Matters Green Paper proposed the introduction of a Common Assessment Framework (CAF) as a central element of the strategy for helping children, young people and their families. (DfES 2004) Common Assessment Framework is a standard assessment tool to be used by all professionals working with children for assessments and referral (British Journal of Social Work (2009). The reform agenda in Childrens Service was catalysed by the public inquiry into the death of Victoria Climbià © (Laming 2003), an eight year old West African girl who was abused and murdered in the UK in 2000 as a result of extreme cruelty and neglect by her great-aunt and the her partner, who were her guardians. Background and Why CAF was Introduced An inquiry into the death of Victoria Climbià © (Laming 2003) exposed a failure to put in place the necessary basic procedures to protect her. Factors identified included lack of early intervention, poor co-ordination, failure to share information and the absence of anyone with a strong sense of accountability. As a result, the Common Assessment Framework (CAF) was one of the measures introduced under the changes in child protection policies and the green paper, Every Child Matters (2003) therefore was introduced to set out proposals for major changes in childrens programmes to allow every child, whatever their background or their circumstances, to have the needed support towards the achievement of a better outcome in the following key areas: being healthy, staying safe, enjoying and achieving making a positive contribution and achieving economic well-being (DoH 2003) The design, in conjunction with the lead professional and better information sharing policies and procedures; to change the method by which services are delivered, moving the focus from dealing with the consequence of difficulties in childrens lives, towards a more proactive preventative and precautionary measure. CAF is intended to be used for children who have additional needs which may not be complex or severe enough to require statutory intervention. It is for use in situations where there are concerns with how a child is progressing in any way (raised by the child, a parent or a professional), the childs needs are unclear, the childs needs are broader than a professionals own service can address or where it is thought that CAF would help to identify the childs needs. The draft Common Assessment Framework was developed in late 2004 with its revised version published in 2005. CAF is a new, more standardised approach for assessing the needs of children for service and deciding howthose needs should be addressed and met. It is meant for children with additional needs; that is, children at risk of poor outcomes (DfES, 2005b,p1). CAF is designed to be evidence-based , focusing on needs and strengths, rather than concerns as seen in the British Journal of social work (2009) 39, 1197-1217. The three stated aims of CAF are to support earlier intervention, improve multi-agency working by, for example embedding a common language of assessment; reduce bureaucracy for families (DfES, 2005b, p1.) CAF is not meant to replace many other assessment schedules used in the various agencies, such as the Assessment of Children in Need and their Families documentation, but the government would like the CAF to represent the main assessment tool to support inter-agency referral and multi-agency working (DfES, 2005b, p 2). Common Assessment Framework (CAF) is one of the contributing elements to the following both of which are outlined in the Childrens Act 2004, the delivery of integrated services the support inter-agency co-operation; and the safeguarding and promoting the welfare of children and young people. [emailprotected] How are children services organised? What is the key legislation that governs children and childrens services, The aim of Every Child Matters is to have a few agencies working together bearing in mind their professional boundaries to liaise and support children from 0 to 19, using a simple language to meet the needs of these children. It came up with the Integrated Childrens System (ICS), the Contact Point and the Common Assessment Framework (CAF), they all have different systems and style of working but have one common goal which is to improve the well being and to safeguard and promote the welfare of children and young people. When a child is seen as suffered neglect, abuse or has any server difficulty or being looked after under the Childrens Act 1989, their needs are assessed using the Framework for Assessment of Children in Need and their families. The Integrated Child System (ICS) is used at this stage, this is done by putting information together step by step and recording information about both the child and family, where a thorough assessment is required an in depth information is needed at this stage and must be gathered in a way that can set as the basis for decision making and can be used for different purposes. ICS is supported by information technology and its the basis of the electronic social care record for children. The IT system is also known as ISC. Contact Point is a fast method to find out who else is working with a particular service user, making it a lighter way to liaise and support, it is a major tool Every Child Matters uses to deliver a better service to Children and young people, having said that Contact Point only holds a little information about a child, parent, practitioners providing services to the child and carers until their 18th birthday, except for exceptional cases for example children with mental health and sexual health problems where their details are still held under sever security. Common Assessment Framework on the other hand comes in as soon as assessment is needed at the very early stage and deciding what action to take. It gives practitioners the chance to put together and record information about a child or young person with additional needs in an orderly, straight forward and simple. Work start from then and practitioners begin to look out for the needs and what should be done and its dealt with. CAF makes practitioners across all agencies, after the required training to go according to the procedures to achieve a dependable assessment that can be used by everyone dealing with the case. The national IT system to support CAF will be deve loped. (eCAF). This will help authorised practitioners to electronically create, share and store CAF within the agencies. Unlike Contact Point CAF only holds the information about some young people and children, with consent, and for a limited period of time. Both Contact Point and CAF were created to for use within childrens services, their goal is to help children with additional needs get the help and support they need, its a tool to make easy early intervention and help deal with additional needs before they get out of control and become more difficult to resolve. CAF and ICS has a common method to assessment, they both have a common way of collecting data about a child or young person around the domains of developmental needs of a child; parent capacity; and family and environmental factors. CAF and ICS are supported by technology where as Contact Point is a basically technology solution www.evertchildmatters.gov.uk Why was CAF introduced and whats its aim The green paper, Every Child Matters, proposed the introduction of a national Common Assessment Framework (CAF) as an important part of a strategy for helping children and young people to achieve the five priority outcomes of: being healthy: enjoying good physical and mental health and living a healthy lifestyle; staying safe: being protected from harm and neglect; enjoying and achieving : getting the most out of life and developing the skills for adulthood; making a positive contribution: being involved with the community and society and not engaging in anti-social or offending behaviour; economic well-being: not being prevented by economic disadvantage from achieving their full potential in life. The Common Assessment Framework (CAF) was decided upon based on the five basic keys. By the help of a lead professional and better information shearing procedure CAF was designed from the concerns that the existing procedures for identifying and responding to the needs of children who are not achieving the five outcomes identified in Every Child Matters do not work as effectively as they were meant to, to bring a better way of how services could be delivered, due to the fact that services have in the past been delivered based on dealing with the consequences of difficulties in childrens lives to preventing things from taking the wrong route from the start. Its main focus is to attain to the fact that every child gets the five keys. It is also created to help assessing children with additional needs which are not too complex or sever as to demand external intervention such as statutory intervention. CAFs aim is to give a method of assessment to give support to early intervention, to h elp decide what needs to be done at an early stage rather than later, its to provide good and a lot more evidence based referral to targeted and specialist services. CAF is created to enhance on joint working and communication between practitioners in a common language of assessment and views and as to how it could be resolved, it was also designed to improve the coordination and consistency around assessments leading to fewer and shorter specialist assessments. CAF was designed to help to decide whether other specialist assessments are needed and if so provide information to help get it done. It was to give a clear picture of a child or young persons needs to be built up over time and with the right consent shared among professionals. Has CAF achieved its aim?(positives and negatives) Through CAF some practitioner began to accept sheared responsibility for children and young people with additional needs. Apart from having to get parents consent to be part of the assessment procedure some practitioners and managers are in view that in conjunction with other services CAF has a lot more prospects in support to early intervention mostly universal services. Some also had doubt as to whether there was enough funds to meet the problems raised and the requirement of CAF. It is apparent that CAF has had mixed responses. One estimation of path-finding authorities revealed that practitioners and managers believed it has enabled a more rigorous follow-through of service delivery, promotion of better multi-agency working and were optimistic that it would eventually pull down thresholds for service receipt (Brandon et al., 2006). The introduction of CAF like everything has its strengths which in general gives a positive view seen by all, however, others have expressed their concerns about its been too formal to some organizations as descriptive tyranny, restricting the narrative making sense of the situation; the difficulties of various professionals and practitioners with other skills and expectations completing CAF differently or partially in the assessment process (Garrett, 2008; Gilligan and Manby, 2008; White et al, 2008). CAF in the East Riding for example is exclusively aimed as a minimal level involvement which will help use universal services to m anage early problems and deject wrong referrals to Social Care. The major intentional level for engagement agencies with the CAF has broader responsibility than CAF alone, covering all included services provision. The different agencies involved is broad, but some agencies are less active in attending meetings and buy in, in terms of resource input is limited. However, there some problems which lessen the positive involvement, and makes CAF less effective, these include less involvement of some agencies in terms of resources input. Practitioners were of view that CAF was not reducing the need foe reassessment, giving examples of some parents forced to repeat their stories during reassessments, I can understand sometimes practitioners would just want to be sure that things have not changed since the last assessment, but the public is of the view that CAF always has the updated information at any time needed, but for luck of training and human error we find out that CAF still is not d oing what it was set out. As well as distracting story-telling way of writing reports, the CAF writers often found that the boxes did not help them adequately to characterize the child and parents. The format of the CAF was opposed by some professionals and practitioners working with it.. Only some professionals used the language of need, whereas over 80 per cent talked about challenges. In addition to the descriptive demands, CAF forms also make CAF doesnt tell a story it feels like school exams, multiple choice, you can tick the boxes with the right answer, but it really doesnt give you er the er .The story. It is about narrative isnt it. Its about peoples lives. It isnt about um dividing a life up into a lot of small boxes. And when you put all those boxes together it will be EQUAL to the narrative As seen in (BJofSW 2009 39, 1197-1217) Sure start worker said I prefer a blank sheet of paper to express by thoughts ibid.. Upon a period of over a decades work in human services organizations, Gubrium et al describe what they call the descriptive tyrannies of people forms, forms used in one way or the other to describe and categorize people coming to the attention of human service professionals, hence, for Gubrium et al, the relations of form completion to human activity is two-fold. They are concerned with what sorts of descriptions the forms invite or the reportorial expectations assumed to underlie acceptance organizational description (Gubirum et al, 1989, p 197). What may be the rational, moral and artful capacities of form-completers? That is, what wiggle room (Erickson, 2004, p, 20) do they have with these descriptive demands? (Oxford University press 2008). Gubrium et al argue that, completed forms like any mode of description, have transformative effects. They do not simply describe events as they occurred in real time. For example they may contain mutually exclusive categorizations, which deman ds that the form-computer suspend disbelief that only one category can apply at any one time, bearing in mind that CAF is designed to have evidence-based , focused on needs and strengths, rather than concerns. Professionals are encouraged to evaluate strengths, needs, actions and solutions for children across three domains derived from the framework for Assessment of Children in Need and their Families (DoH 2000). Please ignore the recommendation below still have that to do I have it written down will type it out tomorrow, Im working in the dark because my landlady forgot to get some electricity and my eyes are hurting now. My lecture ends at 11 so will finish it all with the Ref.. Recommendation and conclusion It is clear to me that the purpose of the CAF and its work load is to ensure that professionals attend to, and record information deemed most relevant to their primary activities as distinct at this historical moment. The CAF is also an over view presented as a complete professional judgement. However, I have shown above that the demands of the form cause information to be ordered in preferred ways, which can be unintelligible. I have talked about the fact that CAF constrains professional practice in particular ways, it is indeed designed to exert its own rigid demands, which can feel harsh to the one person completing the form. CAF in particular relies on the assumption that it can foster uniform professional application and an ordinary (White, Hall and Peckover, 2009). Laming (2009) still recommended that we need to involve more agencies to make the workload easier and effective and said the use of Common Assessment Framework CAF needs to be further promoted with Agencies. To achieve the reason it was introduced practitioners and everyone involved in using CAF must be fully aware of what its all about and must be fully trained to know the pros and cons of what CAF wants to achieve, other Agencies working in line with CAF must also keep their systems and information updated to suit the needs of the children and young people who might need this service to also live the lives they deserve. Parents and the general public must be fully aware of what CAF is hoping to achieve in that way they dont feel pressured if they are called upon to give their approval before an assessment is carried out for their children. Bibliography www.everychildmatters.gov.uk (assessed 13/01/2010) www.ecm.gov.uk/contactpoint. (assessed 12/02/2010) www.ecm.gov.uk/caf (assessed 12/01/201) www.ecm.gov.uk/ics (assessed 12/01/2010) Brandon, M., Howe, A., Daglry, V., Salter, C., Warren, C. and Black, J. (2006) Evaluating the Common Assessment Framework and Lead Professional Guidance and Implementation, Research Report No 740, Nottingham: DfES Department for education opportunity, releasing potential, achieving excellence(Ref DfES 2004) The political Quarterly Publishing Co, Ltd. 2005

The Avant-garde Architecture O :: essays research papers

The Chinese-American architect Ieoh Ming Pei (I.M) is known as one of the greatest architects of the Twentieth Century. His long, brilliant career was highlighted by several internationally famous structures. While many of Pei’s buildings were generally accepted by the public, some of them precipitated fair amounts of controversy. The most notable of these controversial structures is his Glass Pyramid at the entrance of the Louvre in Paris. For these reasons, I.M. Pei seems to be an architect who exhibits interest in the avant-garde through both the creative design and aestheticism of his architecture. Pei was born in China in 1917 and immigrated to the United States in 1935. He originally attended the University of Pennsylvania but grew unconfident in his drawing skills so he dropped out and pursued engineering at MIT. After Pei decided to return to architecture, he earned degrees from both MIT and Harvard. In 1956, after he had taught at Harvard for three years, he established I.M. Pei & Partners, an architectural firm that has been known as Pei Cobb Freed & Partners since 1989. This firm is famous for its successful and rational solutions to a variety of design problems. They are responsible for many of the largest pubic and private construction projects in the second half of this century. Some of these projects include the East Building of the National Gallery of Art in Washington D.C., the John F. Kennedy Memorial Library in Boston, and the Rock and Roll Hall of Fame in Cleveland. When French President Francois Mitterand â€Å"personally selected Mr. Pei in 1983 to design the Grand Louvre to give air, space, and light to one of the world’s most congested museums,† (Markham, 1989) there were many critics. The press â€Å"lambasted the idea of shattering the harmony of the Louvre’s courtyard with a glass iceberg† (Markham, 1989). But Pei proceeded as planned, taking a major risk in creating a glass pyramid structure at the entrance. He did not focus on what the critics would say about his plans, but hoped that the world would see, upon completion, that his vision of a contemporary, functional entrance would not clash with the Baroque style of the Louvre itself. When the pyramid was completed in 1989, Pei’s expression of avant-garde art was not entirely accepted. Many critics praised the aspiration with which the architect designed it, but ridiculed many aspects of its functionality: â€Å"The practical problem is that the Pyramid, once you get inside, is noisy, hot, and disorienting† (Campbell, 1989).

Culture and Disease

Asthma is a disease that is sweeping the country. With so many new cases being reported daily, it has become somewhat of an epidemic. It can be found in almost all corners of the world. Although it is most common in the US, Canada, and UK, it is growing more common in heavily industrialized countries like Brazil and South Africa. This disease can affect anyone; from women to men, children to adults, Caucasians to African Americans. However, it is most prevalent in African Americans, and even more so in African American women. Asthma is a chronic disease of the lungs and one of the most common long term diseases in children (â€Å"Asthma â€Å", n. d). The actual cause of asthma is unknown and there is currently no cure, but certain things in the environment trigger the inflammation of the airways, ultimately leading to asthma attacks. However, it is manageable and can be prevented by avoiding your triggers. Triggers vary for every person, but the most common are tobacco smoke, dust mites, pets, and pollution (â€Å"Asthma â€Å", n. d). The symptoms include tightness in the chest, coughing, and wheezing (â€Å"Asthma â€Å", n. d). Asthma attacks can be deadly if they are not taken care of right away. During an attack the airways in your lungs shrink and do not allow enough air to pass through. Since we do not know the cause of asthma, why is it that African Americans are three times more likely to be hospitalized from it (â€Å"Asthma Facts And Figures†, n. d)? According to â€Å"Asthma data surveillance† (n. d) African Americans are at 11. 6% for having asthma, compared to Caucasians at 8. 2% or Hispanics at 7. 3%. African Americans are also three times more likely to die from asthma, and African American Women have the highest asthma mortality rate of all groups, more than 2. 5 times higher than Caucasian women (â€Å"Asthma Facts And Figures†, n. d). Some researchers believe that it is socioeconomic while others believe it is genetic. Either way, the numbers speak for themselves; for some reason African Americans are more likely to have asthma than any other culture. Looking at socioeconomic reasons, there are many that can be factors in why African Americans are more likely to develop asthma. According to (Castillo, Jordan III, & Tan, n. . ) studies have been done that show even though the same health care is offered to both Caucasians and African Americans; the quality of treatment is often lower for the latter. A certain study even discovered that, in a poor minority neighborhood, there was a higher rate of hospitalization and considerably less people with inhalers (Castillo, Jordan III, & Tan, n. d. ). It was also found that minorities compared to Caucasians, would have an increased chance of seeing primary care physicians rather than specialists because of the cost that specialists usually charged (Castillo, Jordan III, & Tan, n. . ). Another contributing factor could be lower literacy levels in not only the African American culture, but minorities as a whole. Studies have been done to correlate the two, and what was found was that out of 483 minority patients, mostly African-American only 27% of the study subjects could read at a high school level (Castillo, Jordan III, & Tan, n. d. ). This is important because the patients may not comprehend important information given to them about the disease. There are also environmental factors that affect not only this culture, but the population as a whole. Since asthma is triggered by particles in the air, pollution is a big factor in it. Living in areas with higher pollution rates will definitely affect those with asthma. African American children have been known to live in more polluted areas, which help develop more vulnerability to allergens (Castillo, Jordan III, & Tan, n. d. ). The pollution in the high level of ozone is the one that can trigger asthma attacks among African-American children. The ozone causes irritation to the lungs, and then creates inflammation in the lungs making it hard to breathe (Castillo, Jordan III, & Tan, n. d. ). All of these factors have been known to increase restriction in the airways which results in a greater number of children being hospitalized in these polluted areas. As mentioned before, asthma is not curable. However, it is treatable with the correct combination of medications prescribed by a doctor. Medications can either be given in pill form (anti-inflammatories) or inhaler form (bronchodilators). There are also two types: long term and quick control. The long term medications are to help the patient have fewer and milder attacks, but they will not help during an asthma attack (â€Å"Asthma â€Å", n. ). Inhalers are the most common for quick control. During an asthma attack, taking an inhaler is one way to help control the symptoms, and get the attack under control. The other way to help manage asthma is to avoid triggers. Everyone has different triggers, where pet dander may affect one person; it may not affect someone else. One way schools are working to promote the awarenes s of asthma is by letting students and parents know the air quality for the day. Schools now have a colored flag for the three air qualities. Green is for good, yellow is for moderate, and red for unhealthy. Students often have to miss school because of asthma attacks or asthma related problems. If parents and teachers can work together to educate the students about the importance of staying indoors on unhealthy days, we can help to prevent attacks. Another way is about educating children on the benefits of staying away from people who are smoking. We see the commercials on television constantly; the ones with the baby in the crib and the smoke finding its way from a nearby apartment into the child’s lungs. The baby goes into a coughing fit and we are reminded how easily smoke can travel. Second hand smoke is dangerous, especially to someone whose asthma can be triggered by it, sending them into an attack. Anyone can get this disease, although it is more prevalent in African Americans. Even though it is not curable, educating people on this deadly disease is an important aspect to ensuring those affected by it can manage it. Avoiding your personal triggers and making sure you have spoken with a doctor about a treatment plan is key. In this case, both culture and environmental factors have contributed to why African Americans are more commonly diagnosed with this disease. References: Asthma .  (n.d).  Retrieved from http://www.cdc.gov/asthma/faqs.htm Asthma facts and figures.  (n.d).  Retrieved from http://www.aafa.org/display.cfm?id=8&sub=42 Asthma data surveillance.  (n.d).  Retrieved from http://www.cdc.gov/asthma/asthmadata.htm Castillo, R., Jordan III, M., & Tan, L.  (n.d.).  Prevalence of asthma disparities amongst African?American children.  ,  (), 1-3.

Effect of Global Financial Crisis on Banks in Pakistan

CHAPTER #01 BACKGROUND OF SUBJECT AND STATEMENT OF PROBLEM |1. 1 |Introduction | |1. 2 |Evolution and Present Status | |1. 2. 1 |Pakistan’s Banking Sector and Foreign Banks | |1. 3 |Statement of Problem | |1. 4 |Significance of Study | |1. |Scope of the Study | |1. 6 |Delimitations | | | | 1. 1Introduction: The financial crisis, which has been developing at Wall Street, has got people worried in developing countries around the world. The stock exchanges, in developing countries have crashed and things look bleak for the financial markets.The people are drawing parallels with the Great Depression of 1929, but this time the world economy seems far more reliant and countries are far more intertwined with each other. Hit by an unprecedented series of multiple events and shocks, the Global Financial System is in a state of deep distress. One after another, large global banks have faced extensive losses, some were subjected to runs, others wrapped up their business, while yet oth ers went for bail outs, mergers or other forms of restructuring. Stock markets tumbled, indices declined and their market capitalization was severely eroded.The financial crisis, triggered by an isolated problem of subprime mortgages and other alternative investment vehicles which constituted only a small proportion of global financial assets, first hit one sector of the economy i. e. housing, and has now transmitted its contagion effect across all segments of financial markets and institutions, with spillover effects into the real sector. The global economy is now witnessing a significant slowdown after a sustained period of growth. What was perceived initially as purely liquidity? runch in advanced financial markets has now turned into a solvency crisis. The depth and breadth of the financial crisis is yet not known. The crisis has generated instability by speculative trade, which has far-reaching implications around the globe. The crisis has the potential to disrupt the very foun dations of the international monetary system. The situation is not limited to the meltdown of financial markets, the real economy at the national and international level, its institutions; and its productive structures are also in difficulty.This financial meltdown inevitably, backlashes on consumer markets, the housing market, and more broadly on the process of investment in the production of goods and services. 1. 2Evolution and Present Status Pakistan is living in a highly integrated world and a major turmoil of this magnitude and would definitely create certain implications for Pakistan’s economy. Pakistan already reeling from high food and fuel prices could face adverse consequences of the global financial crisis. The country’s economy is already confronted with worst kind of macroeconomic imbalances and obviously need financing desperately.Pakistan’s economic growth has slowed down and the ripple effects of this financial crisis may or may not hit with sam e intensity or severity as it is doing to the developed world, but still there are various channels through which the crisis may hit Pakistan economy. The crisis affected area, United States and Europe, hold a fundamental value for Pakistan’s economy. The financial turmoil is more then likely to affect Europe, Japan and North American countries with full intensity. Pakistan’s external sector comprised of trade, foreign investment, remittances, and capital flows is interwoven with these countries.All these indicators of external sector have more than 50 per cent of the stake in this region. The growth model being followed in Pakistan over the years is highly dependent on foreign capital inflows, mainly from these countries. More than one-half of Pakistan's external trade is dependent on these countries. The country could be hurt if demands for its export products dropped significantly, foreign investment declines substantially and if the terms of trade are affected. Pak istan has a very inelastic import structure and if exports are hit by a crisis than the current account deficit is likely to go beyond the sustainable limits.There is an agreement among analysts that countries with heavy external financing needs are potentially more vulnerable to a credit crunch. Pakistan’s current account deficit had already touched $14 billion which is 8. 5 per cent of its GDP, in 2007-08. In the current fiscal year, the ambitious reduction in the CAD is planned but still need a financing of around $12 billion. If import compression measures fail than the financing needs would be more than that. Pakistan’s external inflows projections hinges upon inflows from GDR’s and sovereign bonds in the fiscal year 2008-09.In the current situation any inflows under these heads are most unlikely. Standard & Poor has downgraded its long-term credit rating for Pakistan to triple c plus and this is the third downgrading of this calendar year. This rating will heart some investment prospect as well. The current crisis is aggravated by rising cost of external borrowing on the one hand and scarcity of availability of external inflows coupled with volatility of oil prices in the international market on the other. Internal security situation is adding miseries to our external woes.Non-debt creating inflows like FDI and portfolio inflows had shown great resilience to external crisis last year but sustainability of this resilience is likely to be hurt. 1. 2. 1Pakistan’s Banking Sector & Foreign Banks The major area of the economy of any country is its financial sector, in recent times financial sector has received renewed focus in the world. And within the broad domain of the financial sector, it is the banking industry that has been the center of attraction for the government and policymakers, particularly in the landscape of the Universal Banking Model.Banking is one of the most sensitive businesses all over the world. Banks plays ver y important role in the economy of the country and Pakistan is no exception. Banks are not only the custodian of the assets of the general masses but also act as a major financial intermediary of the country. The banking sector influences many different but integrated economic activities like mobilization of resources, collection & distribution of public finance.Pakistan’s financial sector consists of Scheduled Commercial Banks which include nationalized, foreign, and private banks; and Non-banking Financial Institutions (NBFIs) which include Development Finance Institutions (DFIs), Investment Banks, leasing companies, modarabas, and housing finance companies. Scheduled Banks and NBFIs (excluding modaraba and leasing companies) are both regulated by the State Bank of Pakistan’s Prudential Regulations, albeit through different wings, and are subject to different SBP regulatory requirements such as capital and liquidity reserve requirements.The banking sector in Pakistan has been going through a comprehensive but complex and painful process of restructuring since 1997. It is aimed at making these institutions financially sound and forging their links firmly with the real sector for promotion of savings, investment and growth. Although a complete turnaround in banking sector performance is not expected till the completion of reforms, signs of improvement are visible. The almost simultaneous nature of various factors makes it difficult to disentangle signs of improvement and deterioration.The central bank has been following a supervisory framework, CAMEL, which involves the analysis of six indicators which reflect the financial health of financial institutions. These are: 1) Capital Adequacy, 2) Asset Quality, 3) Management Soundness, 4) Earnings and Profitability, 5) Liquidity and 6) Sensitivity to Market Risk. Pakistan’s banking sector is made up of 53 banks of which there are 30 commercial banks, four specialized banks, six Islamic banks, s even development financial institutions and six micro-finance banks.According to the State Bank of Pakistan’s (SBP) Financial Stability Review 2007-08, â€Å"Pakistan’s banking sector has remained remarkably strong and resilient, despite facing pressures emanating from weakening macroeconomic environment. According to Fitch Ratings, the international credit rating agency dual headquartered in New York and London, â€Å"the Pakistani banking system has, over the last decade, gradually evolved from a weak state-owned system to a slightly healthier and active private sector driven system. |BANKS IN PAKISTAN | |[pic] | |PUBLIC SECTOR BANKS | | | |First Women Bank Limited | |The Bank of Khyber | |National Bank of Pakistan | |The Bank of Punjab | |SINDH BANK | |ISLAMIC BANKS | | | |BankIslami Pakistan Limited | |Emirates Global Islamic Bank | |Dawood Islamic Bank Limited | |Meezan Bank Limited | |Dubai Islamic Bank Pakistan Limited | |PRIVATE BANKS | | |The Royal Ba nk of Scotland Limited | |JS Bank Limited | |Allied Bank Limited | |KASB Bank Limited | |Arif Habib Bank Limited | |MCB Bank Limited | |Askari Bank Limited | |Mybank Limited | |Atlas Bank Limited | |NIB Bank Limited | |Bank Alfalah Limited | |Saudi Pak Commercial Bank Limited | |Bank Al Habib Limited | |Soneri Bank Limited | |Crescent Commercial Bank Limited | |Standard Chartered Bank (Pakistan) Limited | |Faysal Bank Limited | |United Bank Limited | |Habib Bank Limited | |Habib Metropolitan Bank Limited | |FOREIGN BANKS | | | |Albaraka Islamic Bank B. S. C. (E. C. ), | |The Bank of Tokyo-Mitsubishi UFJ Limited – Pakistan Operations | |Citibank N. A. – Pakistan Operations | |HSBC Bank Middle East Limited – Pakistan | |Deutsche Bank AG – Pakistan Operations | |Barclays Bank PLC | |Oman International Bank S. A. O.G – Pakistan Operations | |DEVELOPMENT FINANCIAL INSTITUTIONS | | | |House Building Finance Corporation | |Pakistan Kuwai t Investment Company Limited | |Pak Brunei investment Company Limited | |Pak Oman Investment Company Limited | |Pak Iran Joint Investment Company | |Saudi Pak Industrial & Agricultural Investment Company Limited | |Pak Libya Holding Company Limited | |China Investment Company Limited | |SPECIALIZED BANKS | | | |Industrial Development Bank of Pakistan | |The Punjab Provincial Cooperative Bank Ltd | |SME Bank Limited | |Zarai Taraqiati Bank Limited | |MICRO FINANCE BANKS / INSTITUTIONS | | | |Khushhali Bank Limited | Rozgar Microfinance Bank Limited | |Network Microfinance Bank Limited | |Tameer Micro Finance Bank Limited | |Pak Oman Microfinance Bank Limited | |The First Micro Finance Bank Limited | As of end-2008, data from the banking sector confirms a slowdown (after a multi-year growth pattern). As of October 2008, total deposits fell from Rs3. 77 trillion in September to Rs3. 67 trillion. Provisions for losses over the same period went up from Rs173 billion in Sept ember to Rs178. 9 billion in October. In the meanwhile, the SBP has jacked up economy-wide rates of interest (the 3-month treasury bill auction has seen a jump from 9. 9 percent in January 2008 to 14 percent as of January 2009 and bank lending rates are as high as 20 percent). Overall, Pakistan’s banking sector hasn’t been as prone to external shocks as have been banks in Europe. To be certain, liquidity is tight but that has little to do with the Global Financial Crisis and more to do with heavy government borrowing from the banking sector and thus tight liquidity and the ‘crowding out’ of the private sector. Increased competition in the banking sector will force smaller banks to either sell out to other larger banks or merge. A small capital base will also restrict branch expansion of smaller banks, forcing them to focus on relatively smaller retail clients.Hence, it is foreseen that a major merger/acquisition potential in the banking sector. Competition would also spill over to other customer services such as provision of ATM machines and better banking facilities. Again, only the larger banks would be able to invest in automation technology and branch expansion necessary to improve efficiencies and mobilize cheaper funds. Foreign Banks (FB) comprises 24% of total advances and deposits within the banking system, but as a percentage of total profitability they are far ahead. A major constraint for foreign banks is the restrictions placed on branch expansion by the SBP. This should be according to liberalization policy to relax restrictions on foreign banks in emerging economies.Traditionally, the foreign banking focused on short term trade finance, targeting mainly low risk blue chip clients and high net worth individuals. More recently, foreign banks have also expanded into merchant banking, capital market operations, and consumer/retail banking. Foreign banks have been extremely successful in capturing a major market share of con sumer banking business, especially that of credit cards. Head office support in terms of international network and technology has enabled the foreign banks to become important players in the corporate and consumer banking arena. The deposits of foreign banks as ratio of total deposits increased to 27. 99 per cent in 1994-95 as compared to 21. 3 per cent in the preceding year. The advances of foreign banks as ratio of total advances have also shown an increase from 17. 64 per cent to 20. 38 per cent during the same period. Citibank earned a pretax profit of Rs. 1191. 82 million and thus it became the top profit earner among the foreign banks in Pakistan. The presence of foreign banks in Pakistan expands access to credit as well as financial services, which can spur efficiency and innovation in domestic banks, however, ripple effect of shocks from the credit squeeze in the US has impact on local financial markets through these banks. Pakistan has concentration of almost all foreign ba nks in the country.They account for one-tenth of deposits in the country in 2007-08. There are substantial changes taking place in the interrelation with the structure-forming elements in the global financial market which is seriously affecting the financial-credit mechanism in the developing countries, which have not yet developed the financial and economic structures. Countries like Pakistan sensitively react to the structural changes in the financial space. The banking and the entire financial system is much stronger now, after years of restructuring. Pakistan’s financial institutions had not invested in derivatives that had exposure to risky investment bankers.Moreover, better supervisory oversight and risk management practices introduced by the SBP have strengthened bank balance sheets while Bank asset quality, profitability, and capital adequacy have also improved remarkably in recent years. If the small size of the Pakistan’s financial market has traditionally b een a hindrance to a more efficient economy, it may actually prove to be an advantage in the current situation. There are deficiencies in the operations of the banking system, and it does not fulfill its function as finance intermediary. Hence the traditional channels of influence between financial market and real economy do not function in all respects. The banking system is on strong footing and has long term potential – a feature which has served to attract a substantial amount of FDI in the sector, with established global financial institutions now active participants in the domestic financial sector,† it has been well? governed and being in private hands under professional management, has witnessed outstanding financial performance during the last few years. With strong regulatory oversight, there has been a significant enhancement of capital and risk? weighted capital adequacy, supported by high provisioning requirements which were tightened in 2007. Stringent loa n provisioning requirement has built sufficient reserves against the NPLs’ portfolio.In contrast to the liberalized financial system in the west which took its toll in the form of the current global financial crisis, there are stringent regulations and adequate policies in place to help the banking system manage its risks. It is observed that aggregate financial soundness indicators have improved since early 2000, and continue to exhibit strong performance. â€Å"Tighter provisioning requirements may have reduced profits, but have positioned banks well,† and added ongoing consolidation and mergers have enabled a number of banks to position themselves better. The studies have shown that solvency profile has improved, and given the pressures from the macroeconomic environment, there is an indication of marginal deterioration in asset quality, which banks are well? equipped to handle. Stress tests conducted on June? 008 data indicate that the large banks are relatively ro bust, with the medium and small? sized banks positioning themselves in niche markets. Capital adequacy of the banking system is strong, 12. 1 percent at end? June 2008, well above the internationally acceptable minimum requirement of 8. 0 percent, it said and added core capital constitutes about 80. 0 percent of the total capital, and Tier 1 to risk weighted assets ratio of the banking system is at 9. 7 percent. â€Å"This strong capital base is accompanied by adequate reserves on the back of stringent provisioning requirements against classified assets – the net NPLs to net loans ratio is reasonably well? contained i. e. at 1. percent in June 2008, comparable to international best standards,† the Report pointed out. Profitability of the banking system continues to be impressive, largely emanating from the persistent growth in high? yield earning assets and expanded business volumes. Before? tax Return On Assets of the banking system remains strong at 2. 3 percent in J une 2008. The strengths built up over the years are now coming in handy in managing the recent financial strains. The Government’s and public sector organizations’ excessive borrowings from the banking system posed another challenge for the banking system. Notwithstanding, the liquidity strains were temporary and the inter? bank market is now functioning normally. Albeit going forward, the banking sector faces a significant challenge in maintaining its deposit base and in attracting new deposits, given the three rounds of increase in the rates of return on NSS instruments in the first few months of FY09. This will in a way force them to enhance the quality and returns on their liability products, and strengthen competition,† it pointed out. Liquidity position of banks also had an impact on the Non? Banking Finance Companies (NBFCs), whose main source of funding continues to be credit lines from banks. â€Å"A broader assessment of financial stability indicates t hat the financial sector is too bank? centric, and the outreach and growth of the Non?Bank Finance Companies and the Insurance sector have languished in recent years,† it said and added NBFCs face direct competition from banks and are not likely to grow significantly until their funding sources and costs are streamlined. An excessive dependence on the banking system to meet the financing needs of the economy, as well as other participants of the financial sector, is quite stark in comparison with other emerging economies, where in general, the growth in other components of the financial sector, such as capital markets, complements and supplements the financing capacity of the banking sector. While financial markets (money market and foreign exchange market) remained resilient to the developments in the macroeconomic environment and functioned well in maintaining financial stability.Despite several achievements of the financial sector in recent years, financial depth and penetr ation in Pakistan continues to be low, and SBP’s financial inclusion strategy are aimed at extending the net of financial services. A lack of confidence in banking system has also traditionally prevented a significant sector of households from keeping their savings in banks. Hence, the impact on households of a possible burst in bank insolvencies will be minimal. In addition, the majority of deposits are in the state-owned banks or banks with sizeable government presence. Indirect effects may thus become prominent in evaluating the consequences of the financial turmoil on the real economy.The tight liquidity situation particularly hampers the operations of small banks and banks with limited resources, so the possibility of insolvency and bankruptcy cannot be ignored for some banks. Pakistan is facing a gimmick of financing huge fiscal deficits in 2008-09 and if liquidity constraint remains intact with limitations on external financing, the demand for State Bank resources will grow at a faster pace. The unwillingness of the SBP to finance the deficit may have serious implications for fiscal operations. This will attract major cuts in growth enhancing development expenditure because current expenditure offers little room for adjustment. The development expenditure has crucial for job creation and interlink ages in the economy.The refinancing of fiscal deficit without SBP finances may prove to be difficult, and will further tighten liquidity conditions and could lead to insolvencies for banks as well as add further pressures on taxation options. 1. 3 – Statement of the Problem: This aim of this research is to analyse the working of foreign banks, their operations and situations after global financial crisis and the services they are providing. The benefits which they are providing to different financial and non financial organizations. The activities and practices of foreign banks operating particularly in Pakistan. Their importance in the economy a nd financial sector of Pakistan. The major reasons for their decline/incline nowadays, Problems faced by them in recent time and their tough competition from other financial institutions performing in the market.There are many risk factors that are blocking the performance of foreign banks, so in this research it is tried to get the deep understanding of impact of global financial crisis on the foreign banks and the following things: 1- The Factors involving the operations of foreign banks before and after global financial crisis. 2- The future opportunities of foreign banks operating in Pakistan. 3- What are the problems faced by foreign banks. 4- How are the risk factors hindering the performance of foreign banks. 5- What products should be focused by foreign banks for growth in future. 6- The strategies for the regulation and development of foreign banks in Pakistan 7- The Initiatives that should be taken to bolster foreign bank operations in Pakistan after global financial turmo il. So the statement of the problem can be: IMPACT OF GLOBAL FINANCIAL CRISIS ON THE FOREIGN BANKS OPERATING IN PAKISTAN†. 1. 4 – SIGNIFICANCE OF THE STUDY: This report is useful in deeply understanding the activities and services provided by the foreign banks operating in Pakistan . Their importance in the economy of Pakistan, this report will not only gives information about present status but also gives comprehensive information about the contribution and impact of foreign banks in the financial sector of Pakistan. This report is also useful for the students and teachers providing complete theoretical and practical information about foreign banks, their functions and operations with wider perspective.This research will be beneficial for the corporations, and researchers who are interested in knowing about the services of foreign banks that will be beneficial for them. This research will also be helpful for the foreign banks in getting information about their present status and future prospects, the opportunities and threats they are facing, and the risk faced by them in Pakistan and what new products and services they can indulge in to grow in the future. This research is also helpful for me to enhance my knowledge in understanding the operations and difficulties faced by the banks. 1. 5 – SCOPE OF STUDY: This study or analysis of the foreign banks will help in identifying the impact of global finacilal turmoil on foreign banks in the financial sector of Pakistan.It includes detailed study of top renowned foreign banks operating in Pakistan. The activities & services provided by them and performance and growth during the financial crisis. 1. 6 – Delimitations: The results are purely based on the information that is provided by the institutions, investors and from other secondary sources. The key factors that may hamper the present and future performance of investment banks are the economic conditions and government policies. This research is limited to the study of the impact of global financial turmoil on few of the foreign banks operating in Pakistan; these banks mainly include Standard Chartered Bank, Citi Bank, RBS Bank and HSBC Bank.

Giving back to the Blacks And Native Americans essays

Giving back to the Blacks And Native Americans essays Should Caucasians Pay for the Racial Discrimination? America today is a great country for all different religions and nationalities. However this method has not always been the same way, what we enjoy in todays world is the result of people suffering in the past, losing their blood, families, and basically all they had in order to obtain human rights and human dignity. Many still believe that the rights given to people are still not sufficient, and we are still on the path of real freedom. African-Americans and Native Americans are the communities that have suffered in the past because of the racial discrimination and the greed of Americans for land. Although these people are human beings just like others, they were treated with brutality and without dignity. When the first explorers founded the new world, they encountered people that did not look or talk like them, at first they thought they had accidentally settled in Spice Islands, which is now present day Indonesia and India, yet they came across a new land, where they confronted people not used to European way of life. The explorers found this land with great opportunity and decided to make a settlement. The New Americans brutally went to war with the Native Americans: raping and killing the women and children, and forcing the natives to move westward. This in turn caused even more problems because of the new Native Americans moving westward were going into other claimed land, which caused war amongst the Native Americans. The text talks about Indian Country. Passed in 1834, promised the Native Americans that all the land west of the Mississippi was one big Indian Reservation. By the 1850s the story had changed, the government abandoned the one big reservation idea and divided the tribes into smaller tribes and assigned them smaller, individual plots of land. Both the whites and the Indians neglected to abide by the ru...

Sweet Baby Shower Blessings

Sweet Baby Shower Blessings Baby showers are the most precious moments in the life of a to-be mother. She is filled with thoughts about her life being about to spin out of control. But a baby shower reminds her of the joys of motherhood. It is an occasion where friends and family members bestow their blessings and bring their good wishes. Here are some baby shower sayings to eloquently essay your thoughts if you are in a dilemma as to what to write on that baby shower card you just bought. Personalize your gifts and cards with these baby shower sayings. These lovely baby shower sayings will certainly linger on in everybodys memories. Baby Shower Blessings Mark TwainA soiled baby with a neglected nose cannot be conscientiously regarded as a thing of beauty.H. Jackson Brown, Jr.Always kiss your children goodnight - even if theyre already asleep.Jean LiedloffA babys cry is precisely as serious as it sounds.Carole TabronA crying baby is the best form of birth control.Elinor Goulding SmithIt sometimes happens, even in the best of families, that a baby is born. This is not necessarily cause for alarm. The important thing is to keep your wits about you and borrow some money.Marion C. GarrettyMother love is the fuel that enables a normal human being to do the impossible.Sophia LorenWhen you are a mother, you are never alone in your thoughts. A mother always has to think twice, once for herself and once for her child.Ed HoweFamilies with babies and families without babies are sorry for each other.Rick BraggThis is a place where grandmothers hold babies on their laps under the stars and whisper in their ears that the lights in the sky are holes in the floor of heaven. AnonymousThis baby is your blessing,I wish happiness in every way,Good luck God bless,I sayAnd many blessings and wishes,To welcome baby into your life todayJarod KintzI haven’t the faintest idea how babies are born, probably because I fainted on the day I was born.Henry David ThoreauEvery child begins the world again.Jarod KintzI’m not opposed to new people, I just don’t like their packaging (diapers).Carl SandburgA baby is God’s opinion that the world should go on.Don HerroldBabies are such a nice way to start people.Patrick RothfussIve never really understood the desire people have to quantify a baby. Hes X big and Y long, As if the baby is a fish youre not sure youre going to keep. Or some prize potato youre hoping will win a prize at the county fair.AnonymousTen fingers, ten toesShes laughter and teardropsSo small and brand newAnd amazingly angelicShes sent to bless youShes one special BabyThe best of lifes treasureAnd will grant and bless youMany hou rs of great pleasure. Erica EisdorferFor having a babys sweet face so close to your own, for so long a time as it takes to nurse em, is a great tonic for a sad soul.Edwin H. ChapinNo language can express the power and beauty and heroism of a mothers love.AnonymousTake a sprinkling of fairy dust,An angels single feather,Also a dash of love and care,Then mix them both together.Add a sentiment or two,A thoughtful wish or line,A touch of stardust, a sunshine ray...Its a recipe, for a Baby Girl truly fine.John StevensonA mother does not become pregnant in order to provide employment to medical people. Giving birth is an ecstatic jubilant adventure not available to males. It is a womans crowning creative experience of a lifetime.Charles DickensI love these little people; and it is not a slight thing when they, who are so fresh from God, love us.Jodi PicoultNewborns reminded her of tiny Buddhas.Samuel HoffensteinBabies havent any hair;Old mens heads are just as bare;Between the cradle and the graveLie a haircut and a shave Lish McBrideYou know what the great thing about babies is? They are like little bundles of hope. Like the future in a basket.Tina FeyAh, babies! They’re more than just adorable little creatures on whom you can blame your farts.

Business Case Development of Entrepreneurship

The study is related to the development of entrepreneurship in Singapore. The case study illustrates the development of the pany Tranium Academy, a training providing enterprise by an entrepreneur named Eugene. Entrepreneurship is defined as the development and starting business ventures of its own. The concept of entrepreneurship is itself a challenging task where entrepreneurs must possess the characteristics of perseverance. Entrepreneurs while starting a new business should accept some negative attributes of loss of money, risk taking, suffering setbacks while embarking the journey of starting a new venture. In this context, the use of creativity in the minds of Eugene is the key cause of success of the business started by him in the market. There goes a concept that creativity and money do not correlate with each other. When entrepreneurs face various limitations then they start to b e more creative in nature. The study focuses on the motivation of Eugene while starting his own venture along with the market opportunities that have supported him to start the business. Apart from that, the business model used by Eugene along with its feasibility in the market, sustainability, gaps and growth of Tranium Academy will also be discussed in the report. The case study illustrates that Eugene Seah has faced countless setbacks while thriving his business of training in the Singapore market. Previously Eugene is associated in working with finance sector. At that sector, he used to take care of the strategic marketing and munications project over many years. Apart from that, he has attended many certification programs for training and assessment and has been associated with many seminars and workshops related to training and development in the Singaporean market (Chatterji et al. 2014). From his very childhood days, Eugene is attracted towards public speaking, hosting various events, enhancing personal skills, etc. It is a cause of motivation of starting his own venture in the future. Apart from that, during his job life in the financial sector, he has gained many experiences in the field of training, development, personal grooming, public speaking, skill development programs, etc. that has been responsible for the source of motivation of developing his career in this sector. In his job life, he has gained opportunity to work with many trainers in different training programs, seminars and workshops that has enhanced his capabilities and level of expertise in the areas of training and personal development (Galindo and Mà ©ndez 2014). Beside this, there is a transition phase in the career where he has to choose for entrepreneurship and a career with no opportunities for growth. Pursuing with same position over years has no point of growth. However, there are many risks related to entrepreneurship that the entrepreneurs must understand while proceeding with the creative idea of venturing own business (Drucker 2014). Ample amount of research about the sector that the entrepreneur wants to start the business is essential. Entrepreneurship also includes the concept of both macro environment analysis and micro environment analysis. Macro environment analysis includes the external condition of the market relating to profitability, investment, scope of the business, growth of the business, nature of petition, number of petitors, dearth of technology usage, current trends of business model used in the industry by the major players, searching potential areas of growth and business, and many more (Sahut and Peris-Ortiz 2014). While having ideas of these attributes, entrepreneur will find motivation in exploring the marketing opportunities. On the contrary, micro environment analysis of the pany includes resources, skills and the financial condition that the entrepreneur is available with. It will help in exploring the opportunities that Eugene will implement while expanding the business opportunities. It is mentioned in the case study that Eugene has conducted enough market research on the genre of business he will be operating in. The different types of opportunities in the Singapore market regarding the training and personal development of the personnel is one of the opportunities for growth of the business venture. Market research of the training and development sector at that time was occupied with major players and their way of providing service is different from that of the other panies (Letaifa and Rabeau 2013). In this context, both the macro environment analysis and micro environment analysis of the market i.e. training and developmental market is important. Apart from that, the motivation for an entrepreneur is the zeal of starting his own venture in the field of expertise he has gained in the due course of time. The training and development of the professionals of the Singapore has been considered as the market opportunities in the business. The expertise that the entre preneur has gained in his career life has immense importance while thriving the business in the Singapore market (Binnui and Cowling 2016). It can be said that from the very beginning training and development is considered as the important factor for the growth of every panies in all parts of the world. Training, personal development, career development, enhancement of skills and expertise are always important not only for growth of career of the individuals but also for the growth of the panies in terms of employee relations and productivity of them in their respective fields (Shaw and de Bruin 2013). Apart from the corporate panies, the field is also important in different schools and personal career counseling activities. Different high level executives of Singapore believe of enhancement of their skills and expertise once in 3 to 5 years for their personal development in their profession they are associated with. Research of Eugene illustrates the fact that the major players of this industry are focused on only one activity with limited amount of resources and capabilities. Another opportunity for the growth of the b usiness is the growth of the non academic tuitions for personal development (Thà ©baud 2015). The business model that is being initially used in Tranium Academy is partnership business of Eugene and one or more partners in the future years. As Eugene does not have sufficient amount of resources, hence he has joined hand with one event management pany of one of his university friend. Initially partnership was agreed by both the parties and the business was started. There was no such specific business model used in Tranium Academy for capturing clients. All things are done manually by Eugene and other members of the business. Lack of use of technology in the business is the reason of very slow growth of the pany as it was been projected earlier (Weber and Tarba 2016). There are many rejections and encounters that Eugene has to face while he is busy in tapping clients from the market. The positive side of Eugene in developing and flourishing his venture is capturing and grabbing knowledge from different sources and attending different seminars and workshops. The idea that Eugene captured from those areas were implemented by him in the business. However, there are many weaknesses in this business model. The weaknesses are discussed above. But the positive side is only the expertise and knowledge gained by the entrepreneur itself to survive the business in the market of Singapore. Despite of having weaknesses, the entrepreneur has the ability to identify the potential business model relevant for the new venture of training and personal development. Being digital is the way identified by Eugene to sustain in the market. The potential business model that will help the entrepreneur to sustain in the petitive world is using technologies that use digital platforms such as websites, social media channels, etc. for tapping more clients for generating revenue for the pany (?ledzik 2013). The pany by using digital platforms will not only increase the profitability but also it will increase the brand image, reputation and popularity of the pany in the market of Singapore. Hence, creating innovative digital content for the website is th e chosen potential business model for the pany to sustain the petition in the market. Entrepreneurship is related to feasibility of the business venture in the market. An entrepreneur has to keep many things in his mind regarding the factors that may influence the business in the market. Mainly external factors are the point of concern that may cause a stoppage in the progress of the business. The external factor includes governmental rules, regulations, laws, trade regulations, safe petition, etc. Internal factors of feasibility of entrepreneurship illustrate the partnership ability of the business in the different operational perspective for the development and growth of the business (Maritz and Donovan 2015). The different perspectives that are mentioned in the case study points out the facts that the business is feasible enough to maintain its business in the market. The case study regarding entrepreneurship illustrates various scopes and opportunities that can cause both favor and unfavor the conditions for growth. The different conditions that are explained in t he case study suggest that the business is feasible in the market of Singapore (Lindberg et al. 2014). Feasibility of the business is the main point of consideration of every entrepreneur across different parts of the world. A list of things regarding the establishment of business in the particular sector is responsible for the positive growth of the venture in the market. The study describes about the opportunities of training and development in the market of Singapore. Apart from that, the condition of the market those are not favorable for the establishment and growth of the business is also mentioned clearly (Mro?ewski and Kratzer 2016). However, it can be said that besides of having many less favorable conditions for business growth, it can be said that the entrepreneur can utilize the available market opportunities in a way to increase the profitability of his business. Hence, it can be concluded that the business is feasible in Singapore market. Control over a business is an important factor in terms of entrepreneurship. It can be said that the most of the businesses across the world is either established in sole proprietorship or in a partnership. Controls of business in both these types of businesses are different from one another. Control is necessary for the smooth flow of all business operations along with the profitability maintenance. It can be said that it is due to the nature of control of business that will determine the goals, objectives, profitability, way of conducting business, grip over the business and its action during the time of less favorable conditions in the market (Hoskinson and Kuratko 2015). The nature of control also determines the different types of actions that will be taken by the business while dealing with customers in different aspects. In this perspective, it can be said that the control of a sole proprietor business is different. Entrepreneur has to take care of each and every details of the business of its own. It can be said that the responsibility is huge over the field of control in sole proprietorship business. In partnership business, the responsibilities, control and other duties are divided into partners involved in the business. Decisions are taken in a joint way. It has both positive and negative aspects. Tranium Academy initially does not face any issues while controlling activities in the business (Patton 2013). However, due to passage of time, there are disputes that have been arisen in the partnership business of Eugene. Starting a new business venture or the concept of entrepreneurship is characterized by potential growth and gaps that will help the entrepreneur in forming business strategies that will help the venture to sustain in the petitive business world. The gaps in the market are identified by the entrepreneur in the market so that they can get prepared about the different kinds of unexpected situations in the market that can hamper the profitability as well as the smooth flow of business operations in the market. In this context, potential gaps are identified by the entrepreneur himself that can affect the growth of Tranium Academy in the Singapore market (Padma and Sridhar 2016). The weaker areas of the pany are the gaps that are responsible for creation of the negative catalytic affect in the business. Different types of positive actions and activities of the petitors in the market are also considered as the factors of growth in the pany. The case study reflects about different favorable factors of growth for flourishing the training academy of Eugene in the market. It is the responsibility of the entrepreneurs and the partners involved in the business to detect and identify the favorable factors for growth as well as the negative factors that inhibits the growth of the pany in the market. In this perspective, it can be said that the entrepreneur i.e. Eugene has a huge level of expertise and skills in the field of training and personal development (Soares et al. 2013). Apart from that, the different kinds of degrees that Eugene possesses along with certifications courses that helps in the growth of Tranium Academy in the market. The market research conducted by the pany is also responsible for identification of the different aspects of growth regarding the change of business model of the pany along with the increase of profitability of the business in the long term (Ceptureanu 2015). The concept of sustainability is a vital aspect that helps business in creating a positive impact on the minds of the target customers in the target market i.e. Singapore market. Nowadays, sustainable approaches are adopted by panies to create positive impact in the minds of the people. Sustainability is the area which is focused not only by the pany itself but also by the consumers (Mok 2015). If businesses in the petitive market do not have sustainability approaches or business operations, then they are not be able to sustain in the market for long term. In this perspective, sustainable approach of implementing digital approaches and technologies will help Tranium Academy while creating a positive impression in the minds of their target customers. Going digital and implementation of technology while maintaining sustainability are the best methods or approaches, that the business can implement in order to increase the profitability and feasibility of the business (Cropley and Crople y 2014). The report discusses about the different aspects of flourishing the business in the Singapore market. The report discusses about the strengths, weakness and feasibility of the current business model along with proposition of another most feasible option of business model in the pany which will increase the growth and profitability of the pany. Apart from that, the viability, feasibility of the business is described in terms of the flow of business in the market. There are different types of problems that Tranium Academy faced is also discussed in details along with r mendations for avoiding the business. Binnui, A. and Cowling, M., 2016. A conceptual framework for measuring entrepreneurship and innovation of young hi-technology firms.  GSTF Journal on Business Review (GBR),  4(3). Ceptureanu, E.G., 2015. Connection Between Entrepreneurship And Innovation Into Romanian Small And Medium-Size Enterprises.  Risk in Contemporary Economy, pp.127-134. Chatterji, A., Glaeser, E. and Kerr, W., 2014. Clusters of entrepreneurship and innovation.  Innovation Policy and the Economy,  14(1), pp.129-166. Cropley, D.H. and Cropley, A.J., 2014.  Managing entrepreneurship for innovation: a psychological analysis  (Doctoral dissertation, Edward Elgar Publishing Limited). Drucker, P., 2014.  Innovation and entrepreneurship. Routledge. Galindo, M.à . and Mà ©ndez, M.T., 2014. Entrepreneurship, economic growth, and innovation: Are feedback effects at work?.  Journal of Business Research,  67(5), pp.825-829. Hoskinson, S. and Kuratko, D.F. eds., 2015.  The Challenges of Ethics and Entrepreneurship in the Global Environment. Emerald Group Publishing. Letaifa, S.B. and Rabeau, Y., 2013. Too close to collaborate? How geographic proximity could impede entrepreneurship and innovation.  Journal of Business Research,  66(10), pp.2071-2078. Lindberg, M., Lindgren, M. and Packendorff, J., 2014. Quadruple Helix as a way to bridge the gender gap in entrepreneurship: the case of an innovation system project in the Baltic Sea region.  Journal of the Knowledge Economy,  5(1), pp.94-113. Maritz, A. and Donovan, J., 2015. Entrepreneurship and innovation: Setting an agenda for greater discipline contextualisation.  Education+ Training,  57(1), pp.74-87. Mok, K.H., 2015. Questing for Entrepreneurship and Innovation for Enhancing Global petitiveness in Hong Kong. In  Research, Development, and Innovation in Asia Pacific Higher Education  (pp. 115-134). Palgrave Macmillan US. Mro?ewski, M. and Kratzer, J., 2016. Entrepreneurship and country-level innovation: investigating the role of entrepreneurial opportunities.  The Journal of Technology Transfer, pp.1-18. Padma, M.C. and Sridhar, V., 2016. Mini-Project Based Approach to Promote Entrepreneurship and Innovation in Engineering Education.  Journal of Engineering Education Transformations,  29(3), pp.67-74. Patton, D., 2013. Entrepreneurship: globalization, innovation and development.  International Journal of Entrepreneurial Behavior & Research. Sahut, J.M. and Peris-Ortiz, M., 2014. Small business, innovation, and entrepreneurship.  Small Business Economics,  42(4), pp.663-668. Shaw, E. and de Bruin, A., 2013. Reconsidering capitalism: the promise of social innovation and social entrepreneurship?.  International Small Business Journal,  31(7), pp.737-746. ?ledzik, K., 2013. Schumpeter’s view on innovation and entrepreneurship. Soares, F.O., Sepà ºlveda, M.J., Monteiro, S., Lima, R.M. and Dinis-Carvalho, J., 2013. An integrated project of entrepreneurship and innovation in engineering education.  Mechatronics,  23(8), pp.987-996. Thà ©baud, S., 2015. Status beliefs and the spirit of capitalism: Accounting for gender biases in entrepreneurship and innovation.  Social Forces,  94(1), pp.61-86. Weber, Y. and Tarba, S.Y., 2016.  Mergers and acquisitions, entrepreneurship and innovation. Emerald Group Publishing. With a decade's experience in providing essay help,

Specific Language Impairment Essay Example | Topics and Well Written Essays - 2500 words

Specific Language Impairment - Essay Example ely affects educational performance. The content of language refers to what individuals talk about or understand. The form of language refers to the shape and sound of the units of language and their combinations such as word endings, the words, or sentence structure. The use of language refers to the reasons why individuals speak and the ways they construct conversations depending upon what they know about the listener and the context. The child with language impairment may have difficulty in any or all of these areas furthermore it is fundamental to education because it is the major form of representation and articulation of knowledge and the principal medium of instruction. Language impairment can be further broken down into receptive and expressive language impairments. It may be helpful to determine that the impairment is receptive or an expressive or both, prior to examining form, content, and its specific affect on mathematical development. A child whose major problem is with receptive lang... behaviours as compared to children with expressive language difficulties, Also they are more likely to experience social and behavioural problems and to be the target for bullying. Their measures of cognitive and language performance tend to be consistent over time, but ratings or measures of behavioural difficulties are more variable they show higher level of behavioural, emotional, and social adjustment difficulties. A child with expressive language impairment has difficulty with the production of language that adequately represents the child intended message and may include problems with word retrieval, word use, sentence formulation, and/or conversational skills. The following characteristics may indicate difficulties in producing language. The child speaks in words, phrases, incomplete or inaccurate sentences, relies upon gesture to supplement or substitute for oral language, uses pronouns, plurals, and possessives incorrectly, has difficulty with the agreement of subjects and verbs, , has difficulty telling a story or describing an event or procedure in a logical sequence, uses run-on sentences, has limited expressive vocabulary, has difficulty finding the appropriate word (s) to express meaning, overuses filler words such as "ah" or "um". Language being the mode of communication is very important in comprehension, organization and for the articulation knowledge, As far as it affect on mathematical development is concerned the further areas such as oral language impairment, the use of language in instruction and assessment, the phonological process impairment, the role of working memory in knowledge of numbers, Basic Calculation, Knowledge of Combinations, and Story Problems and the counting process, principles will highlight the important details that

Strategic Analysis of Regent Hotel Singapore Research Paper

Strategic Analysis of Regent Hotel Singapore - Research Paper Example Strategic Analysis of Regent Hotel Singapore For example, the firms that existed before Regent Hotel were a major threat. Major potential factors that expose an industry or a company to overcome such challenges may include; a sustainable competitive advantage through innovation. For this case, Regent Hotel established renewable sources of energy, which indeed was a great challenge to existing industries. However, Porter argues that competition between offline and online companies is also a factor need for consideration Secondly, Porter comments profitable markets that yield good profits will attract new industries. This results in many new competitors, which eventually will decrease profitability for all firms in the industry. The following factors can have an effect on how much of a threat new competitors may pose: the existence of barriers to entry for example patents, rights, etc. The most attractive segment is one in which entry barriers are high and exit barriers are low. Here, new firms can enter and non-performing firms can exit easily due to high competition. The following factors have indeed helped Regent Hotel, as a company to sail through government policy not affects Regent Hotel to expand its business. All suppliers of raw materials, components, labor, and services to the firm can be a cause of power over the firm when there are few substitutes. For example if you are making loaves of breads and there is only one person who sells flour, then you have no substitute but to buy it from them.

Nursing assignment Example | Topics and Well Written Essays - 500 words

Nursing - Assignment Example Meanwhile, public-private interventions include the 5-a-day Consortium. Methods used to analyze the intersectoral/interagency collaboration and public–private partnerships include the social determinants of health which analyze the units of interventions, intersectoral/interagency and inter-program relationships, public–private partnerships, and capacity to influence policy. Findings of the study found out that interviewees assumed that the price of fruits and vegetables is too high, particularly for the poorest among the population. Access to fruit and vegetable content of school meals are slow and availability of fresh fruit is scant. The 5-a-day Consortium has addressed acceptability and improvement of quality and access to fruits and vegetables. Despite proposed solutions to increase intake of fruits and vegetables among Chilean population and to enhanced partnerships between interlocal agencies and public and private sectors, conflicts between commercial and social interests still occur and created a significant effect on public policies. As documented by the WHO, increasing individual fruit and vegetable consumption to up to 600 g daily would reduce the worldwide burden of ischemic heart disease, ischemic stroke, esophageal, lung and colorectal cancer, cardiovascular diseases, cancer, diabetes, chronic pulmonary obstructive diseases, and other chronic noncommunicable diseases. In addition, the study also affect the collaboration between interlocal agencies and different sectors as political actions are also important determinants of health in resolving issues related to oppression of underserved Chilean in terms of fruit and vegetable consumption. Based upon the social determinants/pathway of Chilean population, deep inequities are observed between income levels, ethnic groups, regions affecting mainly women, children and underemployed workers; food intake are affected by global trends in

Week 3 discussion Assignment Example | Topics and Well Written Essays - 250 words

Week 3 discussion - Assignment Example On the other hand, the puberty stages among girls begin by development and enlargement of the breasts. This is usually followed by increase in height, waist size and the overall body weight (Salkind, 2002). The hips also broaden followed by whitish virginal secretion, coupled by growth of pubic hair in the armpits as well as in the vaginal area. The first menstrual cycle usually occur after a period of two years (Salkind, 2002). Christian should act as role models, mentors and counselors when it comes to teaching teens on issues of sex before marriage (Kohl, 2012). In this regard, Christians should focus on open-ended discussions with teenager that discusses the consequences of engaging in pre-marital sex as well as the importance of abstaining from teen sex. This can be supported from certain quotes from the Bible that prohibits pre-marital sex and considers it a sin. An example that can be used to teach teenagers to avoid pre-marital sex is through provision of case studies of people who engaged in pre-marital sex and the challenges they faced after performing pre-marital sex. From a personal basis, the integration of Bible verses where sex is prohibited i.e. the 10 commandments may also provide imperative in such teaching. However, the major question that may arise through using Bible verses is, Could it be an effective for teenagers brought up in non-Christian

Written assessment Essay Example | Topics and Well Written Essays - 1250 words

Written assessment - Essay Example In order to have children have their best learning experiences they should be able to see, hear and touch the different aspects of their learning. For this particular lesson, it is important for them to be able to listen to the instrument, see the instrument they are listening to and then hear music that includes these instruments. In this way students will have a richer idea of listening to music. By including a way for them to draw a picture and say what they think of the music on the worksheet, they are provided with an opportunity to understand music at a deeper level. Children in grades 4 and 5 are always busy and doing things. They have to have more than just sitting and listening to music or they get fidgety. By providing several things for them to do at once this becomes more entertaining and keeps their interest longer. By the 4th and 5th grade children are able to work in a group and they function well at certain things. They also can work individually using worksheets and most do well at following directions. Children are also using critical thinking skills and this is one of the reasons why I use the worksheet -- it allows them to use these skills as they listen to the music, decide on a picture and decide how the music makes them feel. This is a good way to help them sort out what they are hearing. Many students listen to music that is discouraging and damaging to them and usually this is music that is popular. By introducing them to more than one type of music, they have more to choose from and explore. It is the hope of the teacher that they will want to find other types of music at the library and then perhaps they will purchase it later. Music is one good way to help children improve their listening skills because they have to really listen to hear the specific instruments. If they are talking or are distracted in some way, they will miss the information. This also makes them learn to tune out

Nursing assignment Example | Topics and Well Written Essays - 500 words

Nursing - Assignment Example Meanwhile, public-private interventions include the 5-a-day Consortium. Methods used to analyze the intersectoral/interagency collaboration and public–private partnerships include the social determinants of health which analyze the units of interventions, intersectoral/interagency and inter-program relationships, public–private partnerships, and capacity to influence policy. Findings of the study found out that interviewees assumed that the price of fruits and vegetables is too high, particularly for the poorest among the population. Access to fruit and vegetable content of school meals are slow and availability of fresh fruit is scant. The 5-a-day Consortium has addressed acceptability and improvement of quality and access to fruits and vegetables. Despite proposed solutions to increase intake of fruits and vegetables among Chilean population and to enhanced partnerships between interlocal agencies and public and private sectors, conflicts between commercial and social interests still occur and created a significant effect on public policies. As documented by the WHO, increasing individual fruit and vegetable consumption to up to 600 g daily would reduce the worldwide burden of ischemic heart disease, ischemic stroke, esophageal, lung and colorectal cancer, cardiovascular diseases, cancer, diabetes, chronic pulmonary obstructive diseases, and other chronic noncommunicable diseases. In addition, the study also affect the collaboration between interlocal agencies and different sectors as political actions are also important determinants of health in resolving issues related to oppression of underserved Chilean in terms of fruit and vegetable consumption. Based upon the social determinants/pathway of Chilean population, deep inequities are observed between income levels, ethnic groups, regions affecting mainly women, children and underemployed workers; food intake are affected by global trends in

Written assessment Essay Example | Topics and Well Written Essays - 1250 words

Written assessment - Essay Example In order to have children have their best learning experiences they should be able to see, hear and touch the different aspects of their learning. For this particular lesson, it is important for them to be able to listen to the instrument, see the instrument they are listening to and then hear music that includes these instruments. In this way students will have a richer idea of listening to music. By including a way for them to draw a picture and say what they think of the music on the worksheet, they are provided with an opportunity to understand music at a deeper level. Children in grades 4 and 5 are always busy and doing things. They have to have more than just sitting and listening to music or they get fidgety. By providing several things for them to do at once this becomes more entertaining and keeps their interest longer. By the 4th and 5th grade children are able to work in a group and they function well at certain things. They also can work individually using worksheets and most do well at following directions. Children are also using critical thinking skills and this is one of the reasons why I use the worksheet -- it allows them to use these skills as they listen to the music, decide on a picture and decide how the music makes them feel. This is a good way to help them sort out what they are hearing. Many students listen to music that is discouraging and damaging to them and usually this is music that is popular. By introducing them to more than one type of music, they have more to choose from and explore. It is the hope of the teacher that they will want to find other types of music at the library and then perhaps they will purchase it later. Music is one good way to help children improve their listening skills because they have to really listen to hear the specific instruments. If they are talking or are distracted in some way, they will miss the information. This also makes them learn to tune out

Industrial Revolution Essay Example for Free

Industrial Revolution Essay The industrial revolution throughout the 19th century that brought forth significant changes the world’s economy, past and present. Technology and science were big reason for the boom in the economy. It was because of the industrial revolution. Industrialization helped pave the way for how Nations are built today. The industrial revolution is the reason for improvements in the middle and lower class, advances in technology, improving economies, and led to the expansion of Imperialism (Stearns, 2010). Industrialization perhaps had the most impact of the economic state of the world and its successes are still seen today. The industrial revolution (between 1750 and 1914) brought upon colossal change; people started to discover faster more efficient ways of producing goods. This growth in production led to new product ideas, new transportation methods, and more factory jobs (Stearns, 2010). Industrialization was built on the idea of capitalism and involved risky investments that proved to have a high return. New businesses forms emerged through expanded joint-stock companies and banks to help mobilize the rising capital. There was also a growth in the population due to the agricultural revolution and urbanization took place (Mokyr, 2007). This was not all good. Sickness and disease was very common due to pollution and poor irrigation/plumbing systems. This was a problem that was solved because of invention during the industrial revolution improving the quality of life and the life expectancy. Science and technology are really the key successes to the industrial revolution. One example of this is the invention of the steam engine by James Watt (Stearns, 2010). This literally changed everything and paved the way for the invention of new equipment. The steam engine was used in boats and factories. The engines in boats allowed for new discoveries of raw material. This was prevalent in Africa where the Europeans could now travel through rivers that were before uncharted. Another example is that the new source of power led to drastic improvements on factories and machines. There was a surplus of goods and improvements on the transportation systems, especially the railroads, took off during the industrial revolution (Mokyr, 2007). This new technology allowed for more entrepreneurs to become inventors. Invention came one after the other that would continually improve the industrial systems, which is still the case today. The industrial revolution was a period of scientific and technological growth. This inspired people to develop new ideas and turn them into inventions. This period of change helped pave the way for the current economy of the world and how it continues to grow. We now have larger manufacturing capabilities, better medical facilities, and a borderless system, in terms of delivery of products. Large cities can also be contributed to the industrial revolution. Urbanization also took off during this period. As a result of the industrial revolution economies flourished. It allowed for resources to be developed faster for sale not only locally but globally. The effects of this period are still relevant today in economics. New scientific breakthroughs and invention are being developed almost every day it seems. The industrial revolution is an important time in history and the effects can still be seen today through industry and education. Without the revolution one can only imagine what economy and the world would be like today. References: Stearns, P. N. (2010). World history in brief, volume 2, major patterns of change and continuity: Since 1450. (7th ed., Vol. 2, pp. 337-416). Upper Saddle River, NJ: Pearson College Div. Mokyr, J. (2007). The european enlightenment, the industrial revolution, and modern economic growth. (Masters thesis)Retrieved from http://faculty.wcas.northwestern.edu/~jmokyr/Florence-Weber.PDF