One Of The Smartest People Ever To Live, Albert Einstein, Changed Our

Perhaps the most astute individuals ever to live, Albert Einstein, changed our general public's advancement perpetually with his perspectives, hypotheses, and improvements. Einstein was conceived in Ulm, Germany on March 14, 1879. He was the main child of Hermann and Pauline Kech Einstein. He spent his childhood in Munich, where his family claimed a little electrical hardware plant. He didn't talk until the age of three and by the age of nine, was as yet not conversant in his local language. (Finding World History) His folks were really concerned the he may be to some degree intellectually impeded. His parent's interests aside, even as an adolescent Einstein indicated a splendid interest in nature and a capacity to comprehend troublesome scientific ideas. At 12 years old he showed himself Euclidian Geometry. Einstein despised the dull regimental and unoriginal soul of school in Munich. (Albert Einstein's Early Life) His folks carefully thought to move him out of that condition. In spite of the fact that Einstein's family was Jewish, he was sent to a Catholic grade school from 1884 to 1889. He was then enlisted at the Luitpold Gymnasium in Munich. In 1894, Hermann Einstein's business fizzled and the family moved to Pavia, close to Milan, Italy. Einstein was deserted in Munich to permit him to complete school. Such was not to be the situation, be that as it may, since he left the recreation center after just six additional months. Einstein's biographer, Philip Frank, clarifies that Einstein so altogether disdained conventional tutoring that he contrived a plan by which he got a clinical reason from school based on a likely mental meltdown. He at that point persuaded an arithmetic instructor to guarantee that he was enough arranged to start his school concentrates without a secondary school recognition. Different accounts, in any case, express that Einstein was removed from the exercise room in light of the fact that he was a problematic impact at the school. (Finding World History) In 1895, Einstein thought himself prepared to take the selection test for the Eldgenossiche Technische Hochschule (ETH: Swiss Federal Polytechnic School, or Swiss Federal Institute of Technology), where he intended to study electrical designing. At the point when he bombed that assessment, Einstein enlisted at a Swiss cantonal secondary school in Aarau. He found the more equitable style of guidance at Aarau substantially more charming than his involvement with Munich and before long started to gain fast ground. He took the placement test for ETH a second time in 1896, passed, and was confessed to class, albeit different sources express that he was conceded without assessment based on his recognition from Aarau. ETH had little enticement to Einstein, be that as it may. He seldom went to classes and loathed reading for assessments, in spite of the fact that he graduated with an auxiliary showing degree in 1900. He turned into an instructor of science and material science in auxiliary s chool. (Albert Einstein's Early Life) As an educator Einstein couldn't get a customary showing line of work. Rather he was a guide in a non-public school in Schaffhausen. With his additional time in 1901, Einstein distributed his first logical paper, Results of Capillary Phenomena.? In 1902 he was employed at the patent office until 1909. During this timeframe, he was marry to his first spouse Mileva Marie and had two children and a girl. There are no records of his little girl because of the way that she was surrendered for reception, they just didn't need her. (Finding World History) In 1905, during a solitary year, Einstein created a progression of three sequential papers. These are among the most significant in twentieth-century material science, and maybe in the entirety of the written history of science for they upset the manner in which researchers take a gander at the idea of room, time, and matter. (Finding World History) The arrangement of three papers managed the idea of molecule development known as Brownian movement, the quantum idea of electromagnetic radiation as exhibited by the photoelectric impact, and the exceptional hypothesis of relativity (Discovering Science). The main paper of the arrangement, On the Movement of Small Particles Suspended in Stationary Liquid Demanded by the Molecular-Kinetic Theory of Heat,? managed a wonder initially saw by Scottish Botanist Robert Brown in 1827. Earthy colored expressed that little particles, for example, dust particles, move about with a crisscross movement when suspended in water. The obvious development of

The Birmingham Bombings: Views of Martin Luther King and Jessie Jackso

The Birmingham Bombings: Views of Martin Luther King and Jessie Jackson The bombings and walks in Birmingham Alabama were significant worries for every single common right pioneers. During the 50’s and 60’s, social equality pioneers battled against shamefulness in various manners. Some social equality pioneers like Martin Luther King and Jessie Jackson battled against unfairness with a pen. In 1963 Martin Luther King composed a letter titled, â€Å"Letter From a Birmingham Jail†, and Jessie Jackson composed, â€Å"Jets of Water Blast Civil Rights Demonstrators, Birmingham, 1963.† Martin Luther King and Jessie Jackson are two social liberties pioneers of various ages, however with comparable perspectives concerning the Birmingham bombings. There is an observable age distinction among Jackson and King, which brings about two alternate points of view. In Jessie Jackson’s article he expounded on past encounters, since his article was composed a very long time after the Birmingham occasions. Jackson was only an understudy at the hour of the Birmingham bombings. He just had himself to stress over, however he decided to make the country...

I Was Sitting Where Youre Sitting

I Was Sitting Where You’re Sitting Friday, August 28. Two MIT students sit at the top of the partly-built rollercoaster, one tapping hand on knee to the beat of Galantis (“visualize it”). Five are on the drop, drilling: two on the slide itself, two behind it, setting the flat panel of the track, and a fifth, with dyed red hair, passing power tools up to the others. This year’s East Campus rollercoaster is the steepest wooden rollercoaster on Earth: it starts with an eight-foot vertical drop at a neat 90-degree incline, compared to the previous record of 85 degrees. 12 wheels grip plywood from three directions, binding car to track, and a racing car seat and harness attach rider to car. Following 2011’s attempt at a railroad permit, this is the second year of the rollercoaster’s boundary-pushing (last year’s rollercoaster track was 150 feet long), educational, and completely legal return. Across the courtyard eight students lift one side of a giant cross-shaped trebuchet. There are 600- to 800-pound weights on the ballast (“Once the rockets are up, who cares where they go down”) and one transitory person-weight, climbing on and through the beams. Additional science projects fill the courtyard: a fort with rope bridges, 3d twister, and a wrestling pit filled with hair gel thickening agent. I’ve been at MIT for a while: this is my sixth REX, and this time, I am on assignment with MIT Technology Review. Together with photographer PJ I’m covering Residence EXploration, a multiple-day party before term starts when frosh find their home(s) at MIT, in every sense of the word. (I’ve heard that if CPW is like a tangerine, REX is like an orange.) My goals this REX are special and new: I’ve already built my home; what I need is a snapshot of yours. As I find my way from EC to BC someone whizzes past on a three-wheeled electric skateboard, the wheels reverberating loudly against the rocky west campus sidewalk. I hear: “Oh! Going down!” as something sails out a window onto the roof belowâ€"I know I must be in the right place. The first floor of Burton-Conner: potted plants on windowsills and a Dalek at the end of the hall. Upstairs, Burton 5 is actualizing models from The World Record Paper Airplane Book (none of which, they tell me, have yet made it past the roof). On the table airplane cookies are dotted, striped, and outlined in blue frosting. Burton 5 sits on couches and windowsills, leaning against walls and the space where the window glass would be, discussing and testing the limits of paper folding and the aerodynamics of folded paper. A cool breeze blows in through the window, carrying planes back toward the building: tiny airplane corpses markered with secret messages speckle the roof below and the trees (“Into the tree!”), white paper on green leaves and swaying branches. The conversation shifts to Myth Busters as a real helicopter flies over Simmons, crossing striated clouds in the grey-white sky. Outside in Briggs Field birds swoop, land in batting nets, and pick back up again across the l awn. On the other side of the field, chains of Spongifarians spin in circles and weave through each other, parents yelling from cars to their Scottish dancing freshmen. A few hours later we are inside, the dark grid of windows a stark contrast to the talk and laughter indoors. The theme is giant stuff: giant Connect Four, giant foam swords, and a game with giant cards circled around torso-sized inflatable bowling pins. I kneel down to ask about the bowling pins; instead of answering the frosh open the circle and we divvy up the cards for a game of BS. (Later they tell me that they had been playing spoons with giant bowling pins instead of spoons.) BS with giant cards is a challenge: it’s hard to lie when your lies are 8.25 by 11.75 inches. Jack Johnson plays in the background and a pink-cheeked, natural-hair-colored girl builds on a person-height octagonal prism that is soon to be a waterfall of wooden blocks. Meanwhile in Random Hall, Catan settlers build cardboard roads across the carpet, tossing box-sized dice and trying not to eat their resources: graham-cracker bricks, pretzel wheat, Oreo iron, and marshmallow sheep (“Oreos run out fast”). Back at EC the rollercoaster, whirring power tools, and punks in hard hats are lit up by yellow lamps. Multicolored walls glow through warm windows. Two poi spinners practice and a giant Tesla coil quacks to the music, which switches from “We Can’t Stop” to “Lay Down Sally.” Behind the caution tape two people are having a heart-to-heart in the dip of the rollercoaster. The moon flashes between the branches. The green of the trees is washed into tinted grey by the yellow lights.               PJ and I come back on Tuesday and catch the New House paint war; B^3 (brownies, Belgian chocolate, brown sugar), salty caramel, and Belgian chocolate ice cream and mango sorbet at McCormick*; Burton-Conner wrestling in scintillating orange jello**; almond and green tea ice cream at Random Hall, excess liquid nitrogen surging across the carpet***; and, at EC, a girl with red, purple, and blue hair painting white paste bleach into a new convert’s hair. I get to ride the Big Flipper at Next House and sharpie my name onto the survivor board (“better survival rate than life”****). The flipper mechanism itself is between 200 and 300 pounds (with a 45-pound dorm weightroom weight as a counterweight): it is dropped, not pushed; thanks to conservation of energy you can’t go full circle. We get to watch preparations for the campus-wide water war: water balloons and white PVC pipe water guns being tested, water clashing against shields; and at Simmons a chariot with flags and a huge Tro jan duck with angry eyebrows, inscribed: “DO U EVEN LIFT.” * Soundtrack: Calvin Harris’s and Florence Welch’s “Sweet Nothing,” Owl City’s “When Can I See You Again?” Toppings: hot fudge, gummy bears, chocolate kisses, whipped cream, chocolate sprinkles. ** My notes say that the pool was highlighter-color (pink, yellow, and green), and that the bright orange jello scintillated like jewels in the light that filtered through the trees, spilling out onto the pale tapestry and the two mattresses beneath it. *** My notes say that the LN2 rushing across the carpet was like the flood released by Elrond on the Ford (“white horses with shining white riders”) on page 218 of Hayden’s green hardcover 1994 copy of the Lord of the Rings (which you cannot check out right now because I have it). **** Quite possibly the most terrifying moment of my life (I’m very scared of both heights and speed) followed by calm swinging. No joke: you climb up to the platform like you’re climbing up to a diving board; then they strap you in and cover your arms and legs with a black drape like you get at a barbershop (or the hangman). The whole thing took one week to build and was up for another week after that, and the students who designed it had been designing it since spring. Killian is clear blue sky and unsuspecting tourists. It’s warm in the shade, and a cool wind is blowing in from the Charles. The Simmons chariot drags across the grass, flags waving, cheers and screams. Water shoots out of the Trojan duck. The east assembles under building 2 (inscribed Lavoisier and Newton); the west mans an art sculpture beneath building 1 (Darwin). Battle cries issue from across construction and grow to an approaching roar: “West is best!” East Campus gives a retaliatory cry, marching along the pedestrian passageway through the construction, and assembles at the opposite end of the lawn. The two opposing lines exchange their opposing battle cries and rush into each other. Bikinis and swim trunks mix with normal clothes and polka dot onsies; red hair dots the sea of people. I catch a helmet with horns, someone carrying backup water on their back, and the Simmons Trojan duck spreading its wings, shielding its beloved creators. Finally the east side cheers: “MIT!” The west joins the chant and the music abruptly shifts to “Why Can’t We Be Friends.” The action calms and the two sides merge one more time to high-five and expend remaining supplies. The east side chants “Bexley!” as the lawn empties. In the silence I notice that the west side’s art fort is titled: “Three-piece reclining figure, draped”; alternately: “Please do not climb on sculpture.” Its base is wet; nothing remains of the water war except two PVC pipe guns left at perpendicular angles leaning against the sculpture. The top of the Green Building weather balloon blinks as the first early autumn leaves drift from the trees. PJ and I chill at Killian and eventually head back to East Campus. It’s hard to balance data collection and socializingâ€"because I spent most of my real on-campus MIT social life on the east side, East Campus is full of familiar and friendly faces, some of which I haven’t seen in a while. The rollercoaster is almost done; in-between the third and fourth human trials the dorm president delivers the first strike against the wall of high school accomplishments, which the new freshmen had been adding to over the past few days. “High school is over!” she calls, and somehow connects it to fighting the administration (“Tear down the wall!”). She puts on a white hard hat and thwacks it, leaving a dent (“Destroy!”). My friends all seem to disappear as soon as PJ leaves; it’s nighttime and suddenly I’m no longer surrounded by people. Someone is helping their baby climb the curved transient rock wall, and someone else is lighting cups on fire over embers on the grill. I don’t know any of these people. A song is playing that I will forever associate with being a freshman (though somehow I can’t identify the memory I pulled the song from). Most of the party has retreated, quietly, into lounges and dorm rooms I don’t live in. I pull out a chair and sit alone, alternating between trying to look busy and wistfully looking around. I wonder if it would be weird to mingle with frosh who said they follow my blog and then decide that it probably would, so I check up on celebrity gossip and the code I’m running for lab. People run up and down the wall opposite from where the baby was, and I finally resolve to get up. Behind me on the fort a string of lights has either appeared or been turned on while I wasn’t paying attention. The XX is playing, then Broken Bells (“Ive got nothing left, its kind of wonderful / ‘Cause theres nothing they can take away”).       Writing for Technology Review was truly epic. This was my first time writing for print, my first time (at least since college apps) working under a strict word limit, and my first time working with a real, actual editor. Even more, this article is significant to me because MIT Technology Review was what started me on the path to MIT, well over a decade ago, when I was small, reading everything I could get my hands on, and bored visiting family friends who just happened to be parents of an MIT alumnus (and got that alumnus’s copies of MIT Technology Review). Before that road trip it was my dad’s Popular Science; afterward it was secondhand copies of Technology Review when I could get them and finally the admissions blogs, which became my homepage until the semester I applied five years later. The blogs (which at that point were very new) got me really hooked, and showed me that I could actually imagine myself at MIT; before that, Technology Review showed me that science and engineering are epic, that I wanted to do something like that when I grew up, and that MIT was a place where it happened and the place I wanted to be (and, apparently, a school with students and an application process, which to ok me a while to realize (in part because I’m not sure I knew what college was)). I had no idea how many drafts (six, though it depends on how you count it) and evenings (lots) go into an article, or how much work goes into planning and editing it and by how many people (also lots). I worked on it in the gap between my summer sublet ending and the new lease starting (which just happened to also be the first week of classes (excellent)), from my friend Paula J. ‘14’s apartment in Alewife. I got to work with Alice Dragoon, senior editor of MIT News, who was and continues to be incredibly kind to and patient with me (I am an appallingly slow writer). I think in the end, the final product was as much hers as mine, though the blending is seamless. I’m in love with how the piece evolved and ended up. The process of editing (really editing, not just looking over my work a second time, which is what I used to call editing) was a new kind of challenge that I hadn’t tried before, even as a writing minor. You can get a bit of a peek at the method: this blog post is a clumping of the first and second drafts, most of which didn’t make it (my notes alone were more than twice the wordcount), and a bit of new material, like this sentence. Go check out the final version, online or on pages 16 through 18 of the MIT News section of the November/December issue, with photographs by PJ of lots of the cool things I listed (see if you can match them up!), and please comment there too when you comment here. And a special bonus: please write in to Alice ASAP (this week or this weekend) at MITNews [at] technologyreview [dot] com with thoughts or feelings about REX or about this piece or with your own REX stories to add your own voice to the next Technology Review. At that, my last REX ends where the 2019s’ MIT journey began, with the words of freshman convocation speakers, Drs. Emanuel: “I was sitting where you’re sitting, feeling that interesting combination of fear and excitement”; Bhatia: “All of you are writing your own MIT story, starting today”; and, most of all, Reif: “Keep your mind open to new possibilities, and explore paths that you may not have expected.” Post Tagged #REX

Definition and Examples of Parrhesia

In classical rhetoric, parrhesia is free, frank, and fearless speech. In ancient Greek thought, speaking with parrhesia meant saying everything or speaking ones mind. An intolerance of parrhesia, notes S. Sara Monoson, marked tyranny of both the Hellenic and Persian varieties in the Athenian view. . . . The coupling of freedom and parrhesia in the democratic self-image . . . functioned to assert two things: the critical attitude appropriate to a democratic citizen, and the open life promised by democracy (Platos Democratic Entanglements, 2000). Examples and Observations The author of [Rhetorica] ad Herennium discussed a figure of thought called parrhesia (frankness of speech). This figure occurs when, talking before those to whom we owe reverence or fear, we yet exercise our right to speak out, because we seem justified in reprehending them, or persons dear to them, for some fault (IV xxxvi 48). For example: The university administration has tolerated hate speech on this campus, and so to some extent they are responsible for its widespread use. An opposing figure is litotes(understatement), where a rhetor diminishes some feature of the situation that is obvious to all.(Sharon Crowley and Debra Hawhee, Ancient Rhetorics for Contemporary Students. Pearson, 2004)To best reflect the meanings in its own context, parrhesia should be thought of as true speech: the parrhesiastes is the one who speaks the truth. Parrhesia required that the speaker use the most direct words and expressions possible in order to make it clear that whatever he might be saying wa s his own opinion. As a speech activity, parrhesia was largely limited to male citizens.(Kyle Grayson, Chasing Dragons. University of Toronto Press, 2008)What is basically at stake in parrhesia is what could be called, somewhat impressionistically, the frankness, freedom, and openness, that leads one to say what one has to say, as one wishes to say it, when one wishes to say it, and in the form one thinks is necessary for saying it. The term parrhesia is so bound up with the choice, decision, and attitude of the person speaking that the Latins translated it by, precisely, libertas [speaking freely].(Michel Foucault, The Hermeneutics of the Subject: Lectures at the College de France 1981--1982. Macmillan, 2005)The Fearless Speech of Malcolm XMalcolm X is the great example of parrhesia in the black prophetic tradition. The term goes back to line 24A of Platos Apology, where Socrates says, the cause of my unpopularity was my parrhesia, my fearless speech, my frank speech, my plain spee ch, my unintimidated speech. The hip hop generation talks about keeping it real. Malcolm was as real as it gets. James Brown talked about make it funky. Malcolm was always. Bring in the funk, bring in the truth, bring in the reality. . . .When Malcom looked at black life in America, he saw wasted potential; he saw unrealized aims. This kind of prophetic witness can never be crushed. There was no one like him in terms of having the courage to risk life and limb to speak such painful truths about America.(Cornel West, Firebrand. Smithsonian, February 2015)Eisenhower on the Military-Industrial ComplexWe annually spend on military security alone more than the net income of all United States corporations.Now this conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence--economic, political, even spiritual--is felt in every city, every Statehouse, every office of the Federal government. We recognize the imperative ne ed for this development. Yet, we must not fail to comprehend its grave implications. Our toil, resources, and livelihood are all involved. So is the very structure of our society.In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together. . . .Disarmament, with mutual honor and confidence, is a continuing imperative. Together we must learn how to compose differences, not with arms, but with intellect and decent purpose. Because this need is so sharp and apparent , I confess that I lay down my official responsibilities in this field with a definite sense of disappointment. As one who has witnessed the horror and the lingering sadness of war, as one who knows that another war could utterly destroy this civilization which has been so slowly and painfully built over thousands of years, I wish I could say tonight that a lasting peace is in sight.Happily, I can say that war has been avoided. Steady progress toward our ultimate goal has been made. But so much remains to be done.(President Dwight Eisenhower, Farewell Address, January 17, 1961)Straight Talk as a Rhetorical TropeI read S. Sara Monosons excellent work on parrhesia (frank speech) in ancient Athens. I thought, this is it--we can use this ethic of parrhesia as our own democratic ideal! But then I began to notice that our popular culture in fact already praised something like parrhesia: straight talk. Political theorists also have a similar ethic: sincerity. But the problem was that a lot of straight-talkers seemed deeply undemocratic: straight talk seemed to have become a trope, another tool of crafty politicians and smart advertising executives.(Elizabeth Markovits, The Politics of Sincerity: Plato, Frank Speech, and Democratic Judgment. The Pennsylvania State University Press, 2008)

Scope of Logistics Management - 947 Words

Logistics management covers every stage of the physical distribution process, from raw materials and component parts being ordered and delivered to the factory, materials handling and storage, stock control, sales forecasting from which the forecasts of individual components parts, transport and storage requirements are derived. Other functions include order processing, the purchasing and replenishment of stock, packing, delivery, achievement of set service levels, warehouse location, fleet management and scheduling and the management and operation of a logistics information system which acts as a recording system, aids forecasting, scheduling, model building and produces the myriad of documentation needed for the efficient†¦show more content†¦Because the activities making up logistics management are often complex and highly specialised, they need to be managed by professional staff. To illustrate this, the use of fork lift trucks, cranes, gantries and lifts can be a very d angerous business. Such equipment forms the tools of materials handling. The improper use of such equipment can result in serious injury and damage or even death. Consequently, the people in charge of such operations must be fully qualified and professional. Likewise, those in charge of transport must have technical expertise. The proper loading of vehicles, the securing of loads, the correct weight distribution of loads, the handling of dangerous and hazardous material all require specialised knowledge and expertise. No one would expect a marketing manager or director, no matter how experienced, to be qualified in all of these specialist areas. Although it is becoming increasingly likely that senior marketing staff might have come from a physical distribution background, specialist staff will still be needed. It is not intended that marketing should dictate the day-to-day management policy of the logistics function. This should be left to those individuals who are qualified to make the correct decisions and judgments. However, because logistics has such an important long-term strategicShow MoreRelatedLogistics Management And Supply Chain Management1171 Words   |  5 PagesLogistics and Supply Chain Management Topic: Do the terms, ‘logistics management’ and ‘supply chain management’ have the same meaning in operations and why logistics management might be of strategic importance to a manufacturing or service organisation. During last two decades, the importance of logistics has been noticed around the world. In global markets, the effects and further developments of logistics and supply chain management for corporate success has increased significantly that resultRead MoreLogistics Management And Supply Chain Management1125 Words   |  5 Pages Aero Marine Logistics Tomer Dicturel California InterContinental University Aero Marine Logistics Introduction During last two decades, the importance of logistics has been noticed around the world. 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With different prices and services across the facilities, management is trying to identify opportunities to standardize costs andRead MoreIbm Supply Chain1592 Words   |  7 Pages* Supply Chain Management In IBM: * Early 1990’s: decentralized geographic and functional departments * Mid-late 1990’s: Distribution and logistics functions centralized into a global organization with world-wide responsibility * Early 2000’s: merger of Customer Fulfillment, Procurement, Manufacturing, and Global Logistics/Distribution functions into a new global Integrated Supply Chain function * Result: cost savings of $5.6B in 2002 and $7B in 2003 * A Case studyRead MoreImpact Of Downturn On The Fall Of Construction Output1466 Words   |  6 PagesDepartment of Energy Climate Change (2013) These cost and price pressures through the downturn have had a polarized affect on the construction logistics market; there has been substantial contraction of specialist haulage fleets including a number of businesses ceasing trading; yet there has also been a greater consideration to outsource logistics activities to release capital and achieve cost savings. 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Problems of Small Scale Industries Free Essays

The path of small entrepreneurs is not rosy. Small entrepreneurs face the following types of problems: (1) Problem of raw materials: A major problem that the small entrepreneurs face is the procurement of raw materials. They have to confront with numerous problems like; i. We will write a custom essay sample on Problems of Small Scale Industries or any similar topic only for you Order Now Availability of inadequate quantity ii. Poor quality of materials iii. High cost of raw materials etc All these factors adversely affect the proper functioning of small units. (2) Problem of finance: Finance is one of the most important problems faced by small entrepreneurs. As finance is the life blood of a business organization and no business organization can function properly in the absence of adequate funds. The problem of finance in small sector is mainly due to two reasons i. e. (i) Scarcity of capital in the country as a whole. (ii) Weal credit-worthiness of small units in the country. Due to their weak economic base, they find it difficult to take financial assistance from the commercial banks and financial institutions. Therefore, small entrepreneurs have to obtain credit from the money lenders on a very high rate of interest. (3) Problem of marketing: One of the major problems faced by small entrepreneurs is in the field of marketing. They are not in a position to get first hand information about the market i. e. information about completion, taste, liking disliking of consumers. Therefore, they are not able to upgrade their products according to the changing business environment. These small units acceding to the changing business environment. These small units often do not process any marketing organization. As a consequence, their product quality compares unfavorably with the quality of the products of the large scale industries. Therefore, these industries suffer from a comparative disadvantage as compared to large scale industries. (4) Problem of under utilization of capacity: Most of the small entrepreneurs are suffering from the problem of under utilization of capacity. Small scale units are making only 40 to 50 percent use of their installed capacities due to various reasons such as shortage of finance, raw-materials, power and under-developed markets for their products. (5) Outdated technology: Most of the small entrepreneurs depend upon old techniques and equipment. These units find it very difficult to modernize their plant and machinery due to limited capacity and capital. He quality of products and productivity tend be low in the absence of modern technology and that too at higher cost. They are in no position to complete with their better equipped rivals operating modern large scale units. For example, Khaki products even after government subsidy seem to be costlier. (6) Poor project planning: Poor project planning is another problem faced by small entrepreneurs. In the absence of education and experience, these entrepreneurs do not attach much significance to viability studies. They do not bother to study the demand aspect, marketing problems, sources of raw materials. Inexperienced and incompetent entrepreneurs often submit unrealistic feasibility reports and incomplete documents which invariably result in delays in completing promotional formalities. They cannot afford to avail services of project consultants due to limited financial resources. (7) Inadequate infrastructure: Insufficient quality and quantity of transportation, communication and other basic services particularly in backward areas is another problem. Inadequate infrastructure results in under utilization of capacity and wastages. Inadequate infrastructures also adversely affect the quality, quantity and production schedule of the enterprises operating in these areas. Therefore, their functioning will become uneconomical and unviable. (8) Problem of skilled manpower: A small entrepreneur located in backward area may not have problem of unskilled workers but it may be exposed to the problem of non-availability of skilled workers. Skilled workers may be reluctant to work in their areas and small scale enterprise may not afford to pay the wages and other facilities demanded by these persons. Unavailability of skilled manpower result in lower productivity, deterioration of quality, increase in wastages, rise in other overhead costs and finally adverse impact on the profitability of these small scale units. (9) Managerial problem: Another serious problem for small scale units is managerial inadequacies. Modern business demands vision, knowledge, skill, aptitude and whole hearted devotion. The managerial competence of the entrepreneur is very important for the success of any venture. An entrepreneur is required to undergo training and counseling for developing his organization revolves. Therefore, he must be fully conversant with all aspects of management. Lack of proper commitment and managerial skill will add to the problems of entrepreneurs. (10) Other problems: In addition to above discussed problems, the small scale industries have been constrained by a number of other problems such as trained technicians, technological obsolescence, unorganized nature of operation etc. How to cite Problems of Small Scale Industries, Essay examples

Marketing Strategies Influence and Productivity

Question: Discuss about the Marketing Strategies for Influence and Productivity. Answer: Introduction In this paper, the selected organization is Peters Ice Cream which is an Australia-based Ice Manufacture Company. Besides that, it is one of the top ice cream manufacturers in the industry of Australia, and it was founded in the year 1907. On the other hand, the Peter ice cream was introduced to R R ice cream of European firm and Peters Ice Cream came into the international market many years ago. On the other hand, Peters Ice Cream has implemented many changes in their business strategies (Brown, 2004). Moreover, their strategies changes which need to implement as that, innovative strategies planning to execute properly in the competitive market for sustainability. Along with this part, the company must motivate and encourage their employees for future growth with innovative approaches to capture the whole ice market in Australia. In addition, various issues that affect ice market will be discussed in this paper. On the other hand, the different marketing strategy of other rival comp anies how to influence the performance of Peter Ice Cream will also be evaluated in this study (Pearson, 2007). Marketing Advantages The market includes several factors or issue that impact the performance of an organization. Keeping in mind the end goal to accomplish desirable objectives organizations needs to lead some appropriate marketing strategies. As indicated by recent market research, Peters Ice Cream needs to concentrate on the correct marketing mix to enhance the revenue of the organization through marketing advantages. Though, so as to support in this competitive worldwide market Peters Ice Cream should implement strategy and utilize marketing advantages (Fulmer and Goldsmith, 2011). Each and every segment of the marketing advantages will be discussed in this paper. Moreover, various aspects of current marketing advantages will be analyzed through proper arguments and justification. Along with part, Peter Ice Cream can improve the productivity and customer satisfaction level by effective quality ice products and service. Besides that, the marketing advantages incorporates segmentation, targeting, diffe rentiation, and positioning and each type of components of effective marketing advantages are explained below: Segmentation The segmentation is one of the tangible aspects of marketing advantages, and it concludes geographic, customer behavior, and psychological and demographic. On the other hand, segmentation demonstrates the accurate and current market opportunities which organization can grab for improvement(Weinstein, 2008). With the help of certain atmosphere, thickness, the market estimate the geographic component, the management of Peters Ice Cream ought to examine the marketing environment so as to create any new item in the market because the geographic area is a fundamental variable. Moreover, Peters Ice Cream includes a few ranges where huge thickness clients are accessible. Apart from that, the demographic segmentation is another notable part on the grounds that in a few regions like different items of interest effortlessly accessible. In addition, the customer behavior mostly effects the demographic segmentation and incorporates a few components of customer approach, for example, age, wage, e thnic foundation and family cycle (Bigalow, 2002). Along these lines, Peters Ice Cream ought to create their items as indicated by the demographic phases of clients. Despite the fact that, the psychological segmentation section a market on the premise of motivates, identity and way of life of customers. Apart from that, the psychological components influence a consumer in a successful state of mind. Besides that, Peters Ice Cream should provide a careful attention to psychological figures demand to attract more customers. Deliberating the behavioral segmentation, among all because the supportability of an ice related item depends on upon the consumer behavior. On the other hand, Peters Ice Cream should analyze the customer behavior before presenting another ice products in the market. Target The targeting clients are one of the essential marketing practice that influences organizational performance. Peter Ice Cream needs to analyze the need of potential customers and targeting them which is a strategy keeping in mind the end goal to grab more potential customers. In this targeting strategy, Peters Ice Cream draws the focus of clients with an unsociable offer, and they disregard the market portion contrast(Bartolini, Hilton and Prati, 2006). Additionally, the comparative requirements of customers must draw the attention of Peters Ice Cream. So, they can distribute and offer individual ice product according to need of the customer. On the other hand, Peters Ice Cream needs to focus on the requirements of their target customers to increase profit. Be that as it may, with the assistance of target segmentation, Peters Ice Cream can be determined on an optimal about what number of assemblies of the customer to be focused on their business. With a specific end goal to assess ev ery market section, the objective marketing process assumes a basic part, and the estimations of market portions are additionally concealed by target marketing process. Be that as it may, the idea of target marketing is affected by the intelligent ramifications of market rationality. In this way, Peters Ice Cream needs to focus on a particular section which can create as most extreme benefit alongside incredible customer satisfaction. With the assistance of a solitary fragment, the majority of the organizations include more portions in their objective marketing process. Besides that, Peter Ice Cream should target customers as per the behavior analyzed which was observed the management(Harvard business review on customer relationship management, 2001). Differentiation With a specific end goal to get the main position of Australian frozen industry, Peters Ice Cream brought a ton of variations in their marketing actions. On the other hand, Peter Ice Cream continually modify their marketing strategy inside the time base and get achievement in a skillful mind-set. Peters Ice Cream obtained 'operation Checkout' that includes the desertion of green shield stamps, the conclusion of cost and suit buying for all stores of Peters Ice Cream. Apart from that, In 1999 Peters Ice Cream effectively assumed control over the chain of the frozen yogurt market(Harvard business review on customer relationship management, 2001). In addition, Peters Ice Cream impelled a certainty card, and they accustomed online shopping management withdraw the reflection of customers. Peter Ice Cream also provide service to the housing complex and corporate sections. Moreover, they operated the merged stores with the help of Express arrangement. In present days, more than 500 Peters I ce Cream ice stores have been recognized over the Australia, and it presented an imaginative USA telecom division and online marketing. Position In the segment of Peters Ice Cream, they have effectively executed authentic marketing strategy and satisfy many customers through their excellent ice products. Utilizing the promotional activity, Peters Ice Cream position itself as a low-value ice item in the stores of Peters Ice Cream. They perceive that this strategy is exceptionally helpful in ice industry and a colossal number of clients are pulled in by these low estimated ice items. Other than that, after a specific timeframe, Peters Ice Cream can refund their customer with the assistance of dependability program. Besides, they have compelling and gorgeous stores which draw the attention of the customer (Promotional activity, 2004). Recommendation In the most recent couple of years, the frozen distributor like Peters Ice Cream have turned out to be increasingly successful and enhanced its shares in the marketplace consistently. Different organizations rule a large portion of the Australian ice market. The real brands as opponents of Peters Ice Cream had possessed a greater stake in the marketplace(Aaker, 2008). On the other hand, Peter Ice Cream needs to remain in front of these competitors and for this, it needs to take a gander at a few components which are influencing its worldwide market. Besides that, the marketing analysis helps the business to choose the item and development of market strategy is called Ansoff Growth grid. In addition, it recommends that the endeavor taken by the business for the development of market trust on upon the condition of the market. Apart from that, the state can hold of existing items in existing market. Aside from that, Peter Ice Cream should use the process for their strategy development. Along with this part, it needs to satisfy the consumer's necessity on the grounds that the behaviors of the customer are evolving. Moreover, the customers should be offered by Peter Ice Cream with new and tasty ice or frozen products(Aaker, 2008). Conclusion This paper is based on the practical marketing strategy implementation of Peter Ice Cream. Besides that, the management needs to focus on these targeted customers to increase profit. Moreover, with the help of the marketing segmentation, targeting, and positioning, Peter Ice Cream can identify actual requirements of the customers to serve desired ice products. On the other hand, in order to gain competitive advantages, Peter Ice Cream must recognize the strategies of rival companies in ice industry. Besides that, Peter Ice Cream can develop the performance of the organization by satisfying their customers. References Aaker, D. (2008).Strategic market management. 1st ed. New York: Wiley. Bartolini, L., Hilton, R. and Prati, A. (2006).Money market integration. 1st ed. [Washington, D.C.]: International Monetary Fund, Research Dept. Bigalow, S. (2002).Profitable candlestick trading. 1st ed. New York: Wiley. Brown, W. (2004).Organization. 1st ed. Harmondsworth: Penguin. Fulmer, R. and Goldsmith, M. (2011).The leadership investment. 1st ed. New York: AMACOM. Harvard business review on customer relationship management. (2001). 1st ed. Boston: Harvard Business School Press. Pearson, G. (2007).The competitive organization. 1st ed. London: McGraw-Hill. Promotional activity. (2004). 1st ed. Watford: IGD. Weinstein, A. (2008).Market segmentation. 1st ed. Chicago, Ill.: Probus Pub. Co.

Plato and Aristotle An Analysis free essay sample

This four-page undergraduate essay explains, compares, and contrasts the theories and discussions of Plato and Aristotle regarding the best political association. Quotes from Politics and the Republic are used to support the author’s thesis. Plato and Aristotle: An Analysis Determining the best form of political association was important to the ancient Greek philosophers Plato and Aristotle, and each of them expressed his opinion in important works such as the Republic and Politics. In explaining, comparing, and contrasting the political philosophies of Plato and Aristotle, it is evident that each of them shared the same goal of identifying and promoting the best form of political government. They also shared in common the same philosophy regarding the origins of a political state. The State arises, Plato says through Socrates in the Republic, â€Å"out of the needs of mankind. † (Plato) Aristotle agrees, and declares that the state is a political partnership that exists for purposes of self-sufficiency as well as for the sake of living well. We will write a custom essay sample on Plato and Aristotle: An Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In other words, the State exists in order to provide for the well-being of its citizens. Aristotle expresses this in Politics when he argues, â€Å"the good life is the purpose of the city-state. † (Aristotle) Furthermore, both Aristotle and Plato agreed that Man is by nature a political animal, because he has the ability to express his thoughts about justice. Their respective analyses reflected their respect for justice, and their elevation of it to the highest priority. In the Republic, Plato defines just political rule as a system in which each interest is satisfied to the proper extent and everyone has what is theirs. The philosophers have the knowledge they want; the warriors have the honors they want; and the commoners have the goods and pleasures they want, under the enlightened guidance of philosophers and warriors. The methods of Aristotle and Plato were similar in many ways. They both utilized logic, evaluations of contemporary politics, and lengthy comparisons of various types of political rule to arrive at their conclusions. As citizens of ancient Greece, they both shared much the same outlook on society, religion, morality, and politics. They also shared similar historical perspectives, and their perceptions of contemporary events were formed through the same philosophical context. One of the contrasts between their methods is that Plato used analogies to make his points. He examined a political state by comparing the state with the human soul. Unlike Aristotle, he also used a style of approach in which he made his points through dialogues involving Socrates. He also designed an ideal state run by people he referred to as â€Å"The Guardians† which differed from Aristotle’s approach in Politics, in which style and form more closely resembled an essay or monologue. In Politics, Aristotle emphasized that correct political rule involves pursuing policies which are to the common advantage of the most people. Aristotle reasoned that rulers who placed their own interests above everyone else’s had no political legitimacy, for their tyranny brought suffering upon their own people. Aristotle described the best forms of political rule as kingship, aristocracy and polity, and described the worst forms as tyranny, oligarchy and democracy. Plato was also harshly critical of tyranny, and described it in the Republic as, â€Å"not a matter of minor theft and violence, but of wholesale plunder, sacred and profane, private or public. † (Plato) Both men’s methods involved a comprehensive analysis of the consequences of each form of rule. Aristotle criticized Democracy because its consequences were rule by the multitude, which causes injustice. He criticized Oligarchy because its consequences were rule by the wealthy, which also causes injustice; and he criticized Tyranny because its consequences were dictatorship, which again causes injustice. In terms of the merits of the citizenry, Aristotle notes that the people may collectively be the best judges of certain things, so it is justified for them to take part in deliberations. But like Plato, he feels that the common people are not qualified to share in the highest offices. Both Plato and Aristotle also agree that laws need to be made in accordance with the regime, and agree that the more just a ruler is, the more just the laws will be. Essentially, both Aristotle and Plato asserted that the goal of politics should be justice. One difference between them is that Plato believed that the best claim to rule was education and virtue, although he conceded that there is also a claim to rule based on wealth and on numbers. Another difference is that Aristotle emphasized that the most important task for a leader was to be a lawgiver, and to frame the appropriate constitution for the city-state. In Aristotle’s system, it was the leader’s duty to provide enduring laws, customs, and institutions for the citizens. According to Aristotle, once the constitution was in place, the ruler needed to take the necessary steps to maintain it, to implement reforms when he considered them necessary, and to guard against any subversion of the political system. Aristotle’s emphasis on a constitution sets him apart from Plato, who considered philosopher kingship the best form of political rule. Aristotle described a constitution as â€Å"a certain ordering of the inhabitants of the city-state,† and as â€Å"the way of life† of the citizens. (Aristotle) He also speaks of the constitution of a community as â€Å"the form of the compound† and argues that whether the community is the same over time depends on whether it has the same constitution. (Aristotle) It should be noted that despite the fact that Aristotle’s political views were influenced by Plato, he was very critical of the ideal city-state set forth in Plato’s Republic. He based his criticism on the grounds that Plato’s ideal city-state overvalued political unity, embraced a system of communism that was impractical and inimical to human nature, and neglected the happiness of the individual citizens. In contrast, in Aristotle’s view of the ideal State each and every citizen would possess moral virtue and the equipment to carry it out in practice, and thereby attain a life of excellence and complete happiness. All of the citizens would hold political office and possess private property because â€Å"one should call the city-state happy not by looking at a part of it but at all the citizens. † (Aristotle) In conclusion, the ancient Greek philosophers Plato and Aristotle were both concerned with identifying and promoting the best form of political association. In works such as the Republic and Politics, they used similar methods of analysis to evaluate the best form of political rule. For Aristotle, the best form of political rule corresponded to the best way of life for a human being. Since the best way of life is living nobly and according to virtue, the best political form of rule is the one which promotes this kind of life. For Plato, the best form of political rule was Aristocracy, for it involves rule by the best people in the political community.

Elements in the Human Body and What They Do

Elements in the Human Body and What They Do There are several ways to consider the composition of the human body, including the elements, type of molecule, or type of cells.  Most of the human body is made up of water, H2O, with cells consisting of 65-90% water by weight. Therefore, it isnt surprising that most of a human bodys mass is oxygen. Carbon, the basic unit for organic molecules, comes in second. 99% of the mass of the human body is made up of just six elements: oxygen, carbon, hydrogen, nitrogen, calcium, and phosphorus. Oxygen (O) - 65% - Oxygen together with hydrogen form water, which is the primary solvent found in the body and is used to regulate temperature and osmotic pressure. Oxygen is found in many key organic compounds.Carbon (C) - 18% - Carbon has four bonding sites for other atoms, which makes it the key atom for organic chemistry. Carbon chains are used to build carbohydrates, fats, nucleic acids, and proteins. Breaking bonds with carbon is an energy source.Hydrogen (H) - 10% - Hydrogen is found in water and in all organic molecules.Nitrogen (N) - 3% - Nitrogen is found in proteins and in the nucleic acids that make up the genetic code.Calcium (Ca) - 1.5% - Calcium is the most abundant mineral in the body. Its used as a structural material in bones, but it is essential for protein regulation and muscle contraction.Phosphorus (P) - 1.0% - Phosphorus is found in the molecule ATP, which is the primary energy carrier in cells. Its also found in bone.Potassium (K) - 0.35% - Potassium is an im portant electrolyte. Its used to transmit nerve impulses and heartbeat regulation. Sulfur (S) - 0.25% - Two amino acids include sulfur. The bonds sulfur forms help give proteins the shape they need to perform their functions.Sodium (Na) - 0.15% - Sodium is an important electrolyte. Like potassium, it is used for nerve signaling. Sodium is one of the electrolytes that helps regulate the amount of water in the body.Chlorine (Cl) - 0.15% -  Chlorine is an important negatively-charged ion (anion) used to maintain fluid balance.Magnesium (Mg) - 0.05% - Magnesium is involved in over 300 metabolic reactions. Its used to build the structure of muscles and bones and is an important cofactor in enzymatic reactions.Iron (Fe) - 0.006% - Iron is found in hemoglobin, the molecule responsible for oxygen transport in red blood cells.Copper (Cu), Zinc (Zn), Selenium (Se), Molybdenum (Mo), Fluorine (F), Iodine (I), Manganese (Mn), Cobalt (Co) - total less than 0.70%Lithium (Li), Strontium (Sr), Aluminum (Al), Silicon (Si), Lead (Pb), Vanadium (V), Arsenic (As), Bromine (Br) - pres ent in trace amounts Many other elements may be found in extremely small quantities. For example, the human body often contains trace amounts of thorium, uranium, samarium, tungsten, beryllium, and radium. Trace elements considered essential in humans include zinc, iodine, possibly silicon, probably boron, selenium, probably nickel, chromium, manganese, lithium, possibly arsenic, molybdenum, cobalt, and possibly vanadium. Not all of the elements found within the body are essential for life. Some are considered contaminants that appear to do no harm, but serve no known function. Examples include cesium and titanium. Others are actively toxic, including mercury, cadmium, and the radioactive elements. Arsenic is considered to be toxic to humans, but serves a function in other mammals (goats, rats, hamsters) in trace amounts. Aluminum is interesting because it is the third most common element in the Earths crust, yet serves no known function in living cells. While fluorine is used by plants to produce protective toxins, it serves no essential biological role in human beings. You may also wish to view the  elemental composition of an average human body  by mass. Sources Chang, Raymond (2007). Chemistry, 9th Edition. McGraw-Hill. ISBN 0-07-110595-6.Emsley, John (2011). Natures Building Blocks: An A-Z Guide to the Elements. OUP Oxford. p. 83. ISBN 978-0-19-960563-7.Frausto Da Silva, J. J. R; Williams, R. J. P (2001-08-16). The Biological Chemistry of the Elements: The Inorganic Chemistry of Life. ISBN 9780198508489.H. A., V. W. Rodwell; P. A. Mayes, Review of Physiological Chemistry, 16th ed., Lange Medical Publications, Los Altos, California 1977.Zumdahl, Steven S. and Susan A. (2000). Chemistry, 5th Edition. Houghton Mifflin Company. p. 894. ISBN 0-395-98581-1. Elements in the Human Body and What They Do

Dell Inc Paper Essay Example | Topics and Well Written Essays - 750 words

Dell Inc Paper - Essay Example In addition, the third party integration cost is higher than the cost of integration done by contract manufacturers. The US labors costs are higher than that of China. From the figure 6-4, it is obvious that in L5 the chassis (without motherboard) is shipped to the United States first, and subsequently the motherboards are airfreighted to the country (Simchi-Levi et al., p.184). Since the motherboard is not manufactured at the time of shipping the chassis, the company incurs additional logistics costs from airfreight. While analyzing the six of the proposed manufacturing solutions to the Dell, it is advisable for the company to manage the 3PI (3rd Party Integration) directly to improve its supply chain efficiency. When the 3PI is managed by Dell directly, the Dell management can enjoy more control over its supply chain activities, and ensure uninterrupted flow of finished products. Another major advantage of this manufacturing solution is that it would help the company trim down integration costs by employing cheap labor. In addition, this manufacturing option may assist the firm to minimize its dependence on external parties. The potential demerit of this solution is that Dell has not adequate expertise in the integration process and this issue may lead to product quality problems. If the supply chain shortage gets deteriorated, the company cannot manage the situation by simply practicing the option 4 (Dell managed 3PI). Under this circumstance, the organization must switch to the option 3A – Integration at SLC/hub. This option is relatively less complex for worldwide procurement, and therefore it may assist the company to resolve the issue. In addition, the management of supply quality engineering is minimized under this option, and hence the chipset supply is likely to improve. However, the option 3A is not very effective considering the difficulties associated with cost accounting. Finally, additional production control and

Commercialization in Canada Essay Example | Topics and Well Written Essays - 1250 words

Commercialization in Canada - Essay Example The diagram given below gives an indication of the contribution of commercialization towards the GDP of Canada. The diagram indicates that contribution of commercialization towards the GDP has been very low and more volatile in nature. The growth rate of commercialization has been volatile and erratic in nature. If the growth rate of commercialization is compared with other countries like USA and UK, then it becomes evident that Canada has to make a lot of improvements to match with the advanced countries.The diagram below gives an indication of the initiative taken by the University and colleges for spending in the research and development projects. The indication of the spending in research and development projects bears a special importance. This is because of the reason that technological innovation and development are one of the prime drivers of commercialization. Studies indicate that in comparison to other countries the fund allocated to the colleges and Universities for condu cting research and development works is significantly less.The above diagram gives an indication of the spending by the various sectors like private non-profit, provincial governments, the federal government, universities and industry in research and development activities.The analysis of the spending in research and development activities by various groups indicates that the spending by the provincial governments and federal governments are significantly low. Whereas the spending by the universities is significantly more.... The indication of the spending in research and development projects bears a special importance. This is because of the reason that technological innovation and development are one of the prime drivers of commercialization. Studies indicate that in comparison of other countries the fund allocated to the colleges and Universities for conducting research and development works is significantly less. Fig 2: Research and development fund allocated for GDP Source: (Kenney, 2013) The above diagram gives an indication of the spending by the various sectors like private non-profit, provincial governments, federal government, universities and industry in research and development activities. Fig 3: Commercialization development index Source: (Kutsuna, 2013) The analysis of the spending in research and development activities by various groups indicates that the spending by the provincial governments and federal governments are significantly low. Whereas the spending by the universities is signifi cantly more, this is a cause of concern (Litan, 2012). This is because of the reason that studies indicate that those countries which are characterized by larger spending initiatives by governments and federal bodies have more chances of increasing the success rate of commercialization. Discussion of the reasons for poor commercialization Studies indicate that successful commercialization depends upon the management skills of the startups. The poor management skill of the people heading the startup projects in Canada is one of the reasons for poor development of commercialization. The infrastructures provided by the government to support the startup are proving to be insufficient. Canada also lacks the number of anchor companies. The

The Maintainability of the Current Financial Market

The Maintainability of the Current Financial Market Introduction To argue that we are not currently in the midst of a global financial crisis is simply on maintainable, given the saturation that the issue has had in the mainstream media. There is no secret that there is a global liquidity shortage in the financial sector, mortgage assets declining in value and subsequently limiting the ability of financial institutions service their lending and interest payment requirements to investors. As a result many governments have taken proactive measures to increase liquidity in the financial sector and stave off inflation and other negative factors. It is the purpose of this paper to critically analyse the current financial crisis, in conjunction with the sub-prime mortgage issue which rose to prominence in late 2007. In light of the current economic climate this paper will discuss whether implementing a financial safety net will serve to address the pressures that are being placed on financial institutions in terms of their liquid assets and overall econ omic viability. It will also present the main ingredients of a sound financial safety net, and it is important to note that all of these factors must generally be present in order for a financial safety net to function effectively in correcting the economic imbalance which the global economy is currently experiencing. The Current Financial Climate The financial situation at present around the world is not one of economic prosperity and stability. In the last 12 months the world has had to resist the financial crisis of 2007-2008 sparked by the pressures placed on financial institutions as a result of the sub-prime mortgage crisis. Most recently, beginning in September 2008, is a global financial and liquidity crisis which has led to a number of American and European banks collapsing due to insufficient liquid assets to service its obligations to its customers. Essentially the most recent crisis began with the United States government takeover of Fannie Mae and Freddie Mac, which were to government-sponsored enterprises servicing the United States home loan industry. This, among other factors, consequently sparked a rapid decline in the value of global stock market indexes and currency indicators, such as the Dow Jones (United States), FTSE 500 (United Kingdom) and the ASX 200 (Australia) to name a few. This saw a rapid decline in the value of assets held by mortgage related entities, leaving them with significantly less equity and liquidity to service their lending and interest payment obligations. Response to the crisis the central banks of many countries took measures to inject capital into the cash flow of the financial services industry. For example, the reserve bank of Australia injected AU$1.5 billion (approximately 3 times more than the estimated need), Indias Reserve Bank pumped in approximately US$1.32 billion and the Reserve Bank of China provided a stimulus package of approximately 4 trillion yuan (US$585 billion).[1] In the United States the Emergency Economic Stabilisation Act of 2008 was passed by Congress and gave the Bush administration the authority to purchase up to US$700 billion of unserviceable mortgage assets in an attempt to maximise liquidity.[2] In the United Kingdom, on 8 October 2008, UK government announced a  £500 billion rescue package. All these measures were in an attempt to increase liquidity in the financial services industry, and were often accompanied by reductions in the national cash interest rates as determined by the central banks. In light of the fragility of the current global economic situation, is important to consider the effect of the financial services industry safety net as a mechanism of consumer protection. As this paper will uncover in forthcoming chapters, the safety net often comprises a number of key elements in order to maximise its scope of application and effect. A number of jurisdictions have sought to implement deposit guarantees and similar protection schemes, and the effectiveness and risks associated with these schemes will be discussed more thoroughly in due course. However it is important to note in passing that the current economic crisis plays a significant role in the ability of a financial safety net to function effectively, due to the extraneous pressures which are placed on the economic system as a result of a shortage of liquidity in the global financial industry. This affects every global financial institution from major banks right down to small time debenture businesses. An Overview of the Financial Sector Safety Net It is difficult to confine the financial sector safety net into one concise and succinct definition. Rather one must consider the safety net in light of its many factors. As the World Bank itself points out, are significant difficulties experienced with implementing a safety net, which are appropriately defined in the following passage: Bank safety nets are difficult to design and administer, because they have the conflicting objectives of protecting bank customers and reducing banks incentives to engage in risky activities. In several countries including the U.S., the financial safety net, structured to reduce the vulnerability of the financial system, appears to have had quite the opposite result. Indeed, Kane (1989) identifies the U.S. financial safety net, and notably fixed-rate deposit insurance and belated bank closures, as the single most important factor in explaining the catastrophic Savings and Loan crisis of the 1980s. Similarly, Demirguc-Kunt and Detragiache (1998) find international evidence that the existence of an explicit deposit insurance scheme has contributed to banking system fragility. To restrain bank risk taking, financial safety nets generally rely on two mechanisms: (i) market discipline, and (ii) bank regulation. Bank creditors can exert market discipline by withdrawing their funds, or demanding higher interest rates from riskier banks. In case of publicly traded banks, equity holders can also effect discipline.[3] The above passage demonstrates that safety nets are not effective on their own; rather they require cooperation between all the different classes of parties involved in the financial industry in order to maintain a healthy financial market. However implementing a safety net is not without its risks and, as the above passage indicates, sometimes the mechanisms employed by a safety net programme of them contribute to the fragility of the financial system is not implemented properly and in consideration of the context in which they are to apply. In light of the above this brief has presented a basic overview of the rationale of the safety net in the financial industry and the aims it sets out to achieve. This brief will now go on to explore the fundamental elements of a safety net system, as it is important to consider the effect of each of these individual mechanisms in appropriate detail in order to draw an appropriate conclusion as to whether or not consideration should be given to a safety net scheme to be implemented in a broad manner across global jurisdictions in light of the current financial crisis. Elements of the Safety Net Frameworks for Liquidity Support For most banks and financial institutions the need to maintain a certain amount of rigid liquidity to service lending and interest payment obligations is essential to ensure the long-term viability of the institution, and also to ensure that the bank or institution can continue providing a service to its customers and therefore generate further revenue. Most of these institutions have certain cash reserves available to meet these obligations in the event that the institution becomes temporarily illiquid, however it is important to consider the strength of these measures given the current economic climate and also whether other measures exist in the event that the liquidity reserves of the institution are unable to service its obligations to its customers. Therefore it is important to distinguish between the liquidity reserves which are available to financial institutions during normal operating times and those which are to be relied upon in a time of crisis, and there is a need for a financial institution to consider the efficiency of both of these measures. A common form of day today liquidity reserves banks rely upon is the lender of last resort (LOLR) function, where central banks in most developed jurisdictions around the world have the authority to provide credit support in the event of a bank becoming temporarily illiquid, however still remaining solvent.[4] LOLR actions do not guarantee against banks from failing, but rather serve to protect liquidity shortages in flowing from one bank to another. As the World Bank puts it: This kind of support can provide an important buffer against temporary disturbances in financial markets. LOLR actions may help to prevent liquidity shortage in one bank from being transmitted to other financial institutions, for example, through the payment system. LOLR actions are not intended to prevent bank failures but, rather, to prevent spillovers associated with liquidity shortages particularly in money and interbank markets from interrupting the normal intermediation function of financial institutions and markets.[5] Therefore the purpose of LOLR is to ensure the overall integrity of the financial market, through containing any liquidity shortages to one bank and attempting to prevent it from reaching other institutions. In a time of crisis a financial institution may need to seek liquidity resources from the central bank over and above those that would normally be available to them for day-to-day activities. These emergency lending procedures need to be considered in the strongest possible manner, and the International Monetary Fund has outlined a number of guidelines which should be taken into account in this regard: resources should be made available only to banks that are considered solvent but are coping with liquidity problems that might endanger the entire system (e.g. ‘too big to fail’ cases); lending should take place speedily; lending should be short-term; even then, it should be provided conservatively because of the situation of the bank might deteriorate quickly; lending should not take place at subsidised rates, but the rate should also not be penal because it might then deteriorate the banks position; the loan should be fully collateralised, and collateral should be valued conservatively. However, at times of severe crisis, it might be necessary for the central bank to relax this criterion or to organise a government guarantees or to arrange government credit, even if the loan is executed from the central banks balance sheet; Central bank supervisory authorities and the Ministry of Finance should be in close contact and should monitor the situation of the bank; supervisory sanctions or remedial actions should be attached to the emergency lending.[6] Therefore it is important to the above factors in emergency lending in order to ensure that the overall integrity of the financial system is not placed under threat through a central bank advancing credit to an illiquid financial institution. Deposit Insurance or Guarantees It is one of the simple principles of banking that, in order for a financial institution to profit from lending products, it must have the liquidity resources to advance to the borrowers. These generally come from term deposits, everyday accounts and other consumer-based banking products, not to mention larger institutional banking deposits. In order for these customers to be able to bank with confidence with a particular institution, it may be necessary for the government to introduce a type of deposit insurance which serves to protect the deposits of customers in the event of a failed investment by the bank. It could be argued that by having all deposits protected by a deposit insurance scheme, a financial institution is effectively promoting excessive risk-taking given that the particular customer may feel they have nothing to lose and all to gain by allowing the customer to gamble with what is essentially free money. Therefore it is important to consider whether large deposits sh ould be protected by such a scheme as, in the event of a payout being required, the deposit insurance scheme may be unable to meet its obligations in a timely and efficient manner, which is said to be a key requirement in order for such a scheme to function effectively.[7] A fine balance therefore needs to be struck between protecting the interests of customers while also ensuring that the deposit insurance scheme is in a position to meet its obligations in the event that it is called upon, and it would therefore need to be well funded. Investor and/or Policyholder Protection Schemes Another key element of an appropriate financial sector safety net is the need for customers who engage in investing through that institution to be afforded some sort of insurance protection, which would otherwise be unavailable under a deposit protection scheme. These schemes would be limited in their application, as they would generally exclude losses arising from a customers poor investment decision-making in the like unless a causal link can be established between the decision and advice obtained from the financial institution in question. The World Bank and International Monetary Fund fully describe the function of such a scheme: Investor compensation schemes generally cover customer accounts in which a range of investment activities defined in the respective licensing laws and broader regulatory regimes take place. Compensation schemes generally do not cover losses on the part of the investor as a result of poor investment advice or management by member firms, although in some schemes, compensation may be available where a causal relationship is established between the poor investment advice or management and the inability of the firm to meet claims by clients. In most jurisdictions, the compensation scheme is statutory in nature†¦[8] therefore a member institution cannot simply wash its hands purveying financial loss sustained by a customer who invest through the institution, unless it can be proven that the poor decision made by the investor was not induced (either whole or in part) by the institution itself. An investor should be afforded some protection in relation to investment, but should still be in a position to accept liability should they not heed appropriate financial advice. Crisis Management The final appropriate element of an effective financial sector safety net is the building of both an institution and the responsible government to manage a crisis if and when it occurs. For example, high-profile policy committees and consultants should be in place to establish the framework mentioned in the preceding three chapters of this paper, and to ensure that it is implemented in such a way that is effective in that institutions particular context. Financial institutions also need to ensure they have the appropriate resources, both financial and in personnel, to address is particularly important area of policy especially given the current financial climate and the strange places on banks to provide some form of protection to its customers while also attempting to remain prosperous and loyal to its shareholders. The International Experience The financial sector safety net has been met with mixed reviews in various jurisdictions around the world in response to the current economic crisis. This is due to the fact that central banks and governments have encountered a number of problems when seeking to implement features of the financial sector safety net. For example the United States, given the current Wall Street crisis, and sought to implement a safety net measure, however Reserve Bank Chairman Alan Greenspan has stated: The safety net, along with our improved understanding of how to use monetary and fiscal policies, has played a critical role in this country in eliminating bank runs, in assuaging financial crises, and arguably in reducing the number and amplitude of economic contractions in the past sixty years. Deposit insurance, the discount window, and access to Fedwire and daylight overdrafts provide depository institutions and financial market participants with safety, liquidity, and solvency unheard of in previous years. These benefits, however, have come with a cost: distortions in the price signals that are used to allocate resources, induced excessive risk-taking, and, to limit the resultant moral hazard, greater government supervision and regulation. Clearly, the latter carries with it attendant inefficiencies and limits on innovation.[9] Mr Greenspan has eloquently highlighted one of the key deficiencies with the financial safety net, particularly in relation to government and regulatory supervision of banks during its operation. By increasing government supervision on the financial sector, it severely limits the ability for banks to become innovators in their field and seek to implement new ideas to better service the industry. By implementing rigid supervisory guidelines, the government would be forcing financial institutions to conform to set principles which would effectively make all institutions the same, and limit the ability of these institutions to be granted the autonomy required to be innovative in this industry. Therefore one needs to consider whether the benefits of the financial safety net outweigh the costs associated with it. Mr Greenspan also highlights the increase in costs the taxpayer in the event of the safety net taking effect: The usual suggested premiums for deposit insurance are, of course, far from those that would fully eliminate the subsidy that insurance provides to depository institutions and their borrowers and depositors, especially at times of financial crisis. Indeed, to eliminate the subsidy in deposit insurance, the FDIC insurance premium would have to be set high enough to cover the extreme-loss tail of the distribution of possible outcomes and thus the perceived costs of systemic risk. Since so high a rate appears politically infeasible, the subsidy in deposit insurance cannot be fully eliminated. Moreover, no private insurer will be able to match the actual FDIC premium and cover its risk from the extreme-loss tail. Obviously, if premiums were fully priced, the level of insured deposits would be significantly lower.[10] The above passage demonstrates that it is difficult to lower the deposit insurance premiums associated with a safety net programme, while also ensuring that the deposit insurance fund is still adequately funded to meet its obligations in the event is called upon. By lowering deposit insurance premiums, a financial institution would place a significant strain on itself to be able to cover potential loss associated with the extreme-loss tail which Mr Greenspan discusses and recognises as a serious threat. American newspapers have also highlighted the risks associated with deposit insurance: It has long been known that this feature of the safety net induces moral hazard. Because of the reality and perception that bank deposits are fully protected, banks are willing to engage in riskier activities, insured depositors are less willing and able to monitor the activities of banks, and creditors are less sensitive to the risks incurred by banks. Therefore, it is imperative to develop a system that appropriately prices this insurance and the risks associated with providing it.[11] I fully protecting deposits, the government is inviting banks to be far less accountable for losses incurred as a result of mismanagement of depositors and investors funds, and therefore the deposit insurance scheme needs to be appropriately justified and risk assess for can have any significant practical effect in granting customers peace of mind that there investments are protected, given the current fragile economic climate. Other countries such as Australia have moved to guarantee bank deposits in light of the current financial situation around the globe. Particularly, the Australian government has guaranteed deposits up to an amount of $20,000,[12] despite previously stating that moves by other foreign governments to guarantee deposits were uncoordinated.[13] Interestingly, it has been said that the legal and regulatory framework in place in Serbia and Montenegro sufficient to encourage a deposit protection insurance scheme which would serve to appropriately protect banking customers and the financial industry therein.[14] therefore the results encountered the international arena in relation to the financial safety net are mixed, with some systems acknowledging that certain reforms need to occur before the safety net will function effectively, and others seeking to implement the safety net within their jurisdiction. Conclusion In conclusion, and in consideration of the discussions throughout this brief, would be appropriate to conclude that a financial safety net scheme may be appropriate in certain circumstances in order to provide banking customers with peace of mind in relation to their investments. However it is important to note that a safety net scheme does not bring with it guaranteed success, and one must consider the risks associated with implementing such a scheme and their possible contribution to the dire financial situation which is currently being experienced throughout the world. While the rationale of the safety net may have good intentions, it is clear that deposit guarantees and poor crisis management can have adverse effects on the financial market and therefore affect consumers in a negative way when the intentions are all positive. The international experience with financial safety nets is inconclusive. It is primarily due to the fact that underlying financial pressures in particular jurisdictions can have adverse effects on the effectiveness of the financial safety net, and make it difficult for the safety net to be effective in correcting these imbalances. In the case of the United States cost of deposit and investment insurance is simply too high to justify, whereas in say Australia or Japan the benefit outweighs the cost based on sound financial infrastructure and crisis management techniques. Therefore it is significantly easier to implement a safety net system in these jurisdictions, given the sturdy financial history of the Asian markets. The United States present difficult challenge, with the major financial institutions having capital tied up in high risk investment portfolios, such as what was experienced with the sub-prime mortgage crisis beginning in mid-to late 2007. In short, the question must be asked whether a safety net would increase the liquidity resources of financial institutions, which is universally accepted to be the significant cause of the current financial crisis. The short answer is yes, given that deposit and investment insurance should effectively encourage customers to invest with a particular bank given that their money is effectively insured for a certain amount. However this insurance policy is not worth the paper its written on the insurance fund does not itself have the liquidity service obligations should be called upon to do so. This is a problematic situation, and cannot be effectively answered in a simple form. Only time will tell whether the financial crisis eases as a result of governments purchasing bad mortgage debts from financial institutions, and whether the liquidity shortage ends as a result. Bibliography Arner, D.W., Financial Stability, Economic Growth and the Role of Law (2007), London: Cambridge Australian Broadcasting Corporation, ‘Government considers upping bank deposit safety net’ (2008) http://www.abc.net.au/news/stories/2008/10/12/2388583.htm> at 14 December 2008 Australian Broadcasting Corporation, ‘No need for Government guarantee on bank deposits: Rudd’ (2008) http://www.abc.net.au/news/stories/2008/10/10/2387244.htm> at 14 December 2008 Demirguc-Kunt, A., and Detragiache, E., ‘The determinants of banking crises in developed and developing countries’ (1998), IMF Staff Papers 45, 81-109 Demirguc-Kunt, A., and Huizinga, H., ‘Market Discipline and Financial Safety Net Design’ (1999), World Bank Policy Research Paper WPS2183 Gerda, O., Brewer III, E., and Evanoff, D.D., ‘The Financial Safety Net: costs, benefits and implications’ (2001) The Chicago Fed Letter http://findarticles.com/p/articles/mi_qa3631/is_200111/ai_n8986952> at 14 December 2008 Greenspan, A., Former Federal Reserve Chairman, ‘Speech – The Financial Safety Net’, 10 May 2001, http://www.federalreserve.gov/Boarddocs/Speeches/2001/20010510/default.htm> at 14 December 2008 Herzsenhorn, D.M., ‘Administration is seeking $700 billion for Wall Street’ (2008), New York Times, 20 September 2008 IMF – Monetary and Financial System Department, Operational Paper OP/00/01, Emergency Liquidity Support Facilities Kane, E.J., The SL Insurance Mess: How Did it Happen? (1987), Lanham, MD: University Press of America Marinkovic, S.T., ‘Designing an Incentive-Compatible Safety Net in a Financial System in Transition: The Case of Serbia’ (2004), Centre for the Study of Global Governance, Discussion Paper 35, http://se1.isn.ch/serviceengine/FileContent?serviceID=ISNfileid=07ECE3C0-79BF-BEF2-62FF-A5CF5F97D730lng=en> at 14 December 2008 Reuters, ‘Asian central banks spend billions to prevent crash’ (2008), International Herald Tribune, 16 September 2008 World Bank and International Monetary Fund, Financial Sector Assessment: A Handbook (2005) Footnotes [1] Reuters, ‘Asian central banks spend billions to prevent crash’ (2008), International Herald Tribune, 16 September 2008. [2] David M. Herzsenhorn, ‘Administration is seeking $700 billion for Wall Street’ (2008), New York Times, 20 September 2008. [3] Asl Demirguc-Kunt and Harry Huizinga, ‘Market Discipline and Financial Safety Net Design’ (1999), World Bank Policy Research Paper WPS2183, 2-3; citing Asl Demirguc-Kunt, and E. Detragiache, ‘The determinants of banking crises in developed and developing countries’ (1998), IMF Staff Papers 45, 81-109 and Edward J. Kane, The SL insurance Mess: How Did it Happen? (1987). [4] See also Douglas W. Arner, Financial Stability, Economic Growth and the Role of Law (2007), 139-140. [5] World Bank and International Monetary Fund, Financial Sector Assessment: A Handbook (2005), 105. [6] Ibid, 105-6. See also IMF – Monetary and Financial System Department, Operational Paper OP/00/01, Emergency Liquidity Support Facilities. [7] Ibid, 106. [8] Ibid, 107. [9] Federal Reserve Bank Chairman Alan Greenspan, ‘Speech – The Financial Safety Net’, 10 May 2001, http://www.federalreserve.gov/Boarddocs/Speeches/2001/20010510/default.htm> at 14 December 2008. [10] Ibid. [11] Oscar Gerda, Elijah Brewer III, and Douglas D. Evanoff, ‘The Financial Safety Net: costs, benefits and implications’ (2001) The Chicago Fed Letter http://findarticles.com/p/articles/mi_qa3631/is_200111/ai_n8986952> at 14 December 2008. [12] Australian Broadcasting Corporation, ‘Government considers upping bank deposit safety net’ (2008) http://www.abc.net.au/news/stories/2008/10/12/2388583.htm> at 14 December 2008. [13] Australian Broadcasting Corporation, ‘No need for Government guarantee on bank deposits: Rudd’ (2008) http://www.abc.net.au/news/stories/2008/10/10/2387244.htm> at 14 December 2008. [14] See, generally, Srdjan T. Marinkovic, ‘Designing an Incentive-Compatible Safety Net in a Financial System in Transition: The Case of Serbia’ (2004), Centre for the Study of Global Governance, Discussion Paper 35, http://se1.isn.ch/serviceengine/FileContent?serviceID=ISNfileid=07ECE3C0-79BF-BEF2-62FF-A5CF5F97D730lng=en> at 14 December 2008, 17.

Kimura K. K. Can this customer be saved? Essay

1. What seems to be Pramtex’s strategy? Pramtex’s strategy: Pramtex is pursuing the goal of being the technology leader in the sector. It has chosen product differentiation over cost leadership. In pursuing this goal, it seems to have fallen behind in the maintaining adequate service standards. Its strategy involves close cooperation with the lead user customers to get a presence in the developing standards of the industry. Overall, it seems to be focusing on the high-end premium segment of the market. This is also supported by the fact that whereas it’s overall share is only 3% of the market, its share of the premium segment is 8%. 2. What is the â€Å"Perceived value† for a customer like Kimura? Perceived Value: â€Å"Perceived value† is different for different customers. Out of its various elements, such as buyer’s image, trustworthiness, customer support etc, different customers give different weightage to different elements. Out of these, a customer like Kimura k. k. falls under the category of price buyer. For such a customer, companies need to offer stripped down products and reduced services. 3. Who are the key players at Kimura in the purchasing decision? The key players in the purchasing decision at Kimura are: Senior R&D advisor: Dr. Nomura, Chief of production: Dr. Komuda, Company President: Dr. Kimura, Finance Director: Dr. Eiji Hashimoto. 4. What are their respective roles and interests? Initiator: Dr. Nomura. His interest is in recommending the best technology product while taking into consideration the strategy of the company. End-User: Dr. Komuda. His interest was to ensure that the machine would satisfy his technical specifications. It should also meet maintenance requirements. The learning curve should not be too steep. And the downtime should be minimum. Decision-maker: Dr. Kimura. His interest is in choosing the machine that offers the best value proposition for the company. Influencer: Dr. Eiji Hashimoto. His interest was in choosing the cheapest machine, which would meet the technical specifications, required by the production department. HE would also take into consideration the maintenance costs of the product. 5. Why did Pramtex fail in Japan? What could /should it have done differently? Pramtex failed in Japan because it was making the wrong value proposition to the customers. It was intent on providing the best technology solution. The Japanese customers wanted one, which would provide them with the cheapest product meeting their requirements. They also laid a lot of emphasis on after-sales support which area was unfortunately not much stressed upon within Pramtex. Also, it did not have any significant physical presence in the country. Local competitors had the advantage of quicker response in case of breakdowns, better warehouse access. Also, the service support level maintained by the company was less than satisfactory. It seems to believe that a superior product is sufficient for it to maintain market leadership. What it should have done was get some presence in the country, get some local warehouses, open one or two service centers. This would go a long way in alleviating the customers’ worries about after-sales support. Also, it needs drastic in its after-sales support quality. 6. Can this customer be saved? Short-term? Mid-term to long-term? Why? Why not? Short-term: Possibly not. Nothing much can be done in the short-term in terms of improved customer-support in the shot-term, which is the primary concern of the Kimura. Mid-to-long-term: Yes They will have to be convinced of the company’s commitment to the Japanese market. This assurance should be backed by concrete actions such as getting physical presence in the country in the form of service centers and warehouses for spares inventory. Also, the company must customize its product to suit the needs of the customer.

Assignment Future of Modernization Paper

Assignment: Future of Modernization Paper John Schonewolf SOC/120 November 28, 2010 Nicole Taylor Adopting and converting new ideas into modern ways has often motivated societies to seek change and build on the foundation of their traditions. Many time while implementing changes traditions are lost and industrialization and modernization sets in. Modernization refers to present social structures, especially those established in industrialized societies when urbanization and technological advancements are among the only indicator for survival.While discussing modernization you must look at how it manifests itself within the United States, its continuation and the possibility of a worldwide trend. One must also look at the consequences of modernization by revealing the positive and negative aspects of modernization. Modernization is the change that happens through the gradual way of industrialization, urbanization and social changes which transform populations (The American Heritage Di ctionary of the English Language, 2003). Modernization is often described as the transition from conventional society to a contemporary society as it is in Western civilizations.German sociologist Ferdinand Tonnies’ theory of Gemeinschaft and Gesellschaft explains that â€Å"Industrial Revolution weakened the social fabric of family and tradition by introducing a businesslike emphasis on facts, efficiency, and money† (Macionis, 2006, p. 457). Tonnies viewed modernization as the progressive loss of human community; the Gemeinschaft theory; and describes society as rootless and impersonal and individuals simply associate with other based on self interest; the Gesellschaft theory. Macionis, 2006) Modernization has rapidly manifested itself through four distinct categories; the decline of small traditional communities, expansion of personal choice, increasing social diversity, and orientation toward the future and growing awareness. Because of the decline of small traditio nal communities modernization will continue in the United States. In the past people lives revolved around their family and community where as in modern times people lives revolve around individualism and technology. The increase of cell phones, televisions, and computers has prevented many people from experience a sense of community or family.With the increasing technology individualism has pulled many people away from their traditions or beliefs. More and more individuals are choosing their own lifestyle rather than settling for what is known. Much of this individualism has help increase social diversity. People are expanding their horizons with modernization which has created a form of social blending which provides a more rational and scientific outlook of different cultures and are embracing other behaviors and beliefs. With people embracing other behavior some people are focused more on the future and their personal growth.People are optimistic and look forward to new technolo gical advance with will improve their not only their person but social lives. (Macionis, 2006) Modernization has become a world-wide trend which has reached place such as China and Latin America. Ten Years in Latin America states â€Å"ten years ago, the possibility of free trade throughout the America was a distant dream† (Westlund, 2003). A wide range of multinational industries has joining the United States in bringing Latin American up to day with modernization and has become a key factor in imports and exports.With that modernization Latin Americas population climbed over 500 million making it one of the world’s most promising consumer markers. (Westlund, 2003) Modernization has also affected China. China: Looking 50 Years Ahead discusses how in the last two decades China has seen a huge economic grown due to rapid modernization. However it has had a negative effect on the United States. As china continues to modernize, they are developed a nuclear threat. It is b ecause of that nuclear threat the United States and China has a strategic relationship which keep both countries satisfied (China, 2008).This example of how modernization has become world-wide is one of the consequences of Modernization. Another good example of the consequences of modernization is the transition to urbanization and industrialization. Urbanization is described as the increasing proportion of population in a given concentrated area during a specific period. With many people migrating into bigger cities to gain better life urbanization is beginning to run ramped in bigger cities such as New York, Chicago, or Miami. In an article published by the University of Michigan in 2002 entitled Urbanization and Global Change, it states â€Å" IN 1950, less than 30% f the world’s population lived in cities. This number grew to 47 % in the year 2000. It is expected to grow to 60% by the year 2025. (University of Michigan, 2002). This rapid growth is responsible for many of the environmental and social changes in the urban environment and its effect are related to global change issues. This rapid change also puts a major strain on the city’s ability to keep its citizens safe. Many citizens do not receive services need to survive. This rapid change also causes severe environmental problems and widespread poverty (University of Michigan, 2002).This is also an example of Ferdinand Tonnies’ theory of modernization which best reflect my perceptions of modernization. As the population grows in major cities and communities and no longer close, modernization will continue. The need for new technological and industrial advances has created a new society into a vicious circle of constant change. People are continuously seeking ways to improve their life and make it easier. Although modernization does have some benefits the urbanization and industrialization and creating major problems in today’s society.It is evident that the United States has endured many changes throughout its vast history and will continue to do as the need for modernization increases to grown and has became an important part of society and the effects of modernization will continues to be felt across the world.References China: Looking 50 Years Ahead. (2008, June). Energy Compass. Retrieved from ABI/INFORM Trade & Industry database. (Document ID: 1510128161). Macionis, J. J. (2006). Society: The basics (8th ed. ). Upper Saddle River, NJ: Pearson Prentice Hall. The American Heritage Dictionary of the English Language. (2003). Modernization. Retrieved From http://www. thefreedictionary. com/modernization Univeristy of Michigan. (2002). Urbanization and Global Change. Retrieved from Global Change: http://www. globalchange. umich. edu/globalchange2/current/lectures/urban_gc/ Westlund, R. (Jan-Feb 2003). Ten years in Latin America. (Special Advertising Feature). Latin Trade,  11,  1. p. 63(7). Retrieved  from  General OneFile  via  Gale : http://find. galegroup. com/ips/start. do? prodId=IPS