Innovation A Case Of Walmart Commerce Essay

Innovation A Case Of Walmart Commerce Essay In the present world, knowledge plays a pivotal role in economic processes. Those organizations with enough knowledge have a competitive advantage over those with less. In an economy that is knowledge based, innovation plays an essential and central role. An organization can maintain competitive advantage through quality and price (Francis, Bessant, Hobday, 2003). Organization does innovation in order to defend and maintain their competitive stand and to seek their competitive advantage (Francis, Bessant, Hobday, 2003). Innovation is the heart of economic change; it shapes the momentous changes in the world and fills in the process of change continuously. It turns ideas and knowledge into products and services. The stumbling block of innovation is management innovation. The present management systems that are in place in every firm today develop over the last 160 years. The dynamic business innovation transforms by management innovation and as a result, business models and practices, can meet challenges of change. The ability to spot new opportunities and create new better strategies is the heart of every management innovation (Genus Cloes, 2006). Walmart is the largest stores in the United State of America, and one big chain store the world. It operates more than 4,000 retail store globally. On top of this, company is a dominant retail in Mexico, Canada, and United Kingdom. A survey by Fortune 500 index shows that Walmart is the richest and most powerful corporation in the world. It holds the number one when ranked by its total sales. It is the second most admired company in the world (Vance, Sandra, Roy, 1994). The company provides diverse merchandise ranging from household needs, electronics, toys, fabrics, jewelery and shoes, crafts, family apparel, lawn and garden. It also runs a pharmacy department and photo processing center (Vance, Sandra, Roy, 19 Product innovation. Walmart examine the life cycle of their products and the supply chain try to make products that are sustainable from farm to the shelf. They work with the research consortium who delivers research findings, metrics and reporting system. This assists Walmart to engage suppliers so that they understand the products they sell. In 2011, the company used the metrics from the research firm to develop an index for six products. By engaging research results and integrating them into the core merchandise processes, will help transform their products to better suit customers needs. In my own view, this is a product innovation process because the company will use research findings to improve on their products. Furthermore, their supply chain, which is transparent, is also one of the product innovations. Walmart implemented an information system that is transparent. For example, when scanning the band-aid at the register, the information sent Walmart D C and also to suppliers. This will give information to suppliers, and are able to know the amount to ship out. These have reduced time, labor and paper work. The supplier forecast demand and plan production hence greater efficiencies. 2.0 The Wal-marts Market Management The success and growth of any organization entirely depends on how the market is penetrated and controlled. An organization may win by producing and delivering product that are of high quality than those of their competitors. Products and services that exceed customers expectations ought to be delivered. This is because a customer compares the product bought with those of other companies and take into consideration the opportunity cost the will be derived from the product. There are various strategies that Wal-mart employed in the market so as to overcome challenging market environment and be on the top in the industry. These strategies are enumerated below:- 2.1 The employees and customers Expectation The studies conducted on customer research suggest ideas and concepts that are to be used in order to get the target customers (Lovelock et al, 1996). This is of great importance as it assists in providing essential products and services based on customers wants and perceptions (Kotler 1999). On the other hand, a good working environment in the workplace enables employees to come up with creative ideas that are brilliant. This will enable them come up with new innovative ideas that will in the long run result in products that are unique. If a leader leads the way and provide and enabling climate in the workplace, employees will bring out a new ideas, thoughts, concepts, designs, or processes that will revolutionize existing products and services. Wal-mart has remained at the top due to the strong beliefs they uphold: Respect: This calls for exercising respect for all individuals who are both the employees of the company and the customers. This has resulted in the attraction of peoples of different economic and social background. Better services to all: Wal-mart developed the commitment to deliver the best to its customers in which ever store. They uphold this by keeping the pricing policy the same across all branches and to maintain it as low as possible. Excellence and uniqueness: The strive for excellence have been maintained by expanding, innovating new products that are superior and unique, and reaching further to new markets (Vance, Sandra, Roy, 1994). The Sundown Rule: This is a directive from the top management to all employees. The directive requires that any employees must answer the customer request or the supplier within 24 hours. The Ten Foot Rule: This is also another directive that any employee who is at a distance of 10 feet to a customer must welcome, beam, and listen to a customer in a store. This is a hospitality policy that is aggressive and compels staff to engage in cheerfulness. The Wal-mart company develops its staff to flourish in the working environment. Every member of staff stick to the irrespective of ranks they have been given. This gives freedom to staff so that they can have the confidence to challenge, question, and suggest ideas as part of a group with a common objective unconstrained by day-to-day operational environment (Cooper, 2001). 2.3 Market Segmentation In the every market environment, customers needs and wants are diverse; therefore an organization will not be able to supply an entire market for a particular product or service. It is therefore compelled to identify division of a market that it can effectively serve (Kotler, 1999). Locally Wal-mart is the largest US retailer. It has over 3,000 stores, and 77 distribution centers serving over 100 million customers. In my own view, I see this as market segmentation because Wal-mart started small but gradually developed with time to what it is today setting up new branches in every part of the globe. In those branches products are unique in that they deal with diverse products. There have been changes in the way in which products produced and supplied to customers. The aim is to occupy every segment of the market so that they can meet all the needs and want of its customers. Its expansion globally has been aggressive and dynamic in the sense that their products are unique in every step of the way. So the process, they undertook to diversify, expand, and innovative as there is no firm that is able to compete with Wal-mart. 2.4 Positioning When a market segment has been identified, the next step is to put in place the product in the market. The design of the position in the market will have an impact in the customers minds (Ziethmal et al, 1996). The customers will compare this with the competitors of a particular product in the market. Walmart has an elaborate, efficient supply chain system. They have combined supply chain, technology, and services. This has changed customers shopping behaviors, suppliers, and employees. Suppliers are able to forecast and the demand of items required and are able to arrange and plan for products in advance. They achieved this through effective positioning strategies; managers had insights of how various attributes of markets are treasured by the existing and potential customers within that division. Wal-mart examination and contribution is successfully situated and has established and maintained a characteristic place for itself in the consumers mind in relation to competing organizat ions offerings. If a product is successfully positioned, the declaration of the service will summon up in the customers psyche an image that is different from descriptions of similar product contributions (Ziethaml et al, 1996). 2.4 Marketing This is the way of doing business that aims at maintaining and improving current customers and acquiring new ones. The relationship between the customers and the firm is maintained through quality service, commitment, and innovation (Lovelock et al, 1996). The strategy used in Wal-mart is to dominate every sector of the business and sell goods at low process, outsell competitors and expand. Typical Walmart model is to build stores, make existing stores bigger, and dominate its competitors. In every step, the company works hard to make a profit and remain on top of its competitors, to a point of shunning some of them out of business (Francis, Bessant, Hobday, 2003). The organization uses its size, financial stability, and resources to dominate retail. This transform to effective use of strategy whether operating locally, or acquiring another retail chain in another country. The size and power of the company allows it to achieve its goals (Vance, Sandra, Roy, 1994). Their strategy is clear and direct. Sam Walton on 1960 lay down it and refined over decades. The company is proud of it and incorporates it within its advertisements. The message of the company by the CEO is consistent and has been so over time. Scott Lee in his annual speech repeated the main message of the firm, repeating the culture of the organization as explained by founder Sam Walton. There is an emphasis of selling less, respecting employees and communities, and expanding (Francis, Bessant, Hobday, 2003). The company manager strives to create and sustain a culture in which innovation can flourish. Whenever they entered into a market, they set up physical and organizational space. We can see that they capture an area by putting up building and making it stands out among the rest (Francis, Bessant, Hobday, 2003). 3.0 Paradigm innovation. As the world is changing rapidly, business as usual in organizations is no longer an option. Managers are adopting new approaches that are friendly to the environment and society. They adopt deep, systemic change. Walmart is not an exception. They are developing and selling products that are environmentally friendly. For instance, in one of the stores they sell green light bulbs. This is a product that consumes little energy. By adopting this product, they are promoting the fight against global warming, which is, a great challenge on the globe. 4.0 Competitive Strategy. The strategy used is to dominate every sector of the business and sell goods at low process, outsell competitors and expand. Typical Walmart model is to build stores, make existing stores bigger, and dominate its competitors. In every step, it takes the company works hard to make a profit and remain on top of its competitors, to a point of shunning some of them out of business (Francis, Bessant, Hobday, 2003). The organization uses its size, financial stability, and resources to dominate retail. This transform to effective use of strategy whether operating locally, or acquiring another retail chain in another country. The size and power of the company allows it to achieve its goals (Vance, Sandra, Roy, 1994). Their strategy is clear and direct. Sam Walton on 1960 lay down it and refined over decades. The company is proud of it and incorporates it within its advertisements. The message of the company by the CEO is consistent and has been so over time. Scott Lee in his annual speech repeated the main message of the firm, repeating the culture of the organization as explained by founder Sam Walton. There is an emphasis of selling less, respecting employees and communities, and expanding (Francis, Bessant, Hobday, 2003). The company manager strives to create and sustain a culture in which innovation can flourish. Whenever they entered into a market, they set up physical and organizational space. We can see that they capture an area by putting up building and making it stands out among the rest (Francis, Bessant, Hobday, 2003). 5.0 Innovation Strategy. In order to keep at the breast with other competitors in the market, the firm adopted the steady state archetype where the manager guided the organization to take strategic position that highly depended (Francis, Bessant, Hobday, 2003). They also utilized decision making by allocating resources to the basis of risk management and operate with a set of routine and structures that embedded them (Cooper, 2001). In order to cope up with the innovation change, a wide range of potential targets for innovation set up. They diversify to different, new sectors of the market. Networks put up various parts of the region and expanded globally. In every sector, they encouraged competitiveness within themselves (Tidd Bessant, 2009). For example, Walmart has a history of exploring future options and driving innovations. Most recently, through research the company assessed the market. This provided a focal point for various, diverse kinds of goods which might form and generate future goods and ser vices (Cooper, 2001). I think that implementing an innovation strategy ensures that core competencies aligned with organizations objectives and goals because communication is the core competence, commitments, and dedication. This applies to all organization boundaries. It is also beneficial in accelerating changes, quick acceptance, and new products adoption. Conclusion Firms that manage works have a greater chance of succeeding in an aggressive successful business setting. Managerial control in organizations accomplished through the implementation management innovation strategies. Prudent management rules, proper structures of the organization, tools of the project and project techniques that are in line with the project scope and risks must be put in place. Management novelty though requiring much effort to embrace quickly is a process. Organizations need to react favorably and adopt to change quickly so as to remain relevant in the competitive environment. Managers and its employees need to work together as a team. The manager must create a conducive environment for innovation where every member has freedom. This way, ideas suggested and adopted. Model of innovation leadership must be embraced. This allows building on past work and adding some perspective from the field of change and innovation. Change is inevitable; therefore, managers must respond to change. In my own view, I see Walmarts innovation strategy as unique and SMART. The reason is that it is specific, measurable, attainable, and timely. It is specific because they venture into a particular market, establishes, and compete. In their innovation strategy, targets that are measureable and attainable are set. We can see this in the way they produce a product for a specific market for example, the green bulb. This is a section dealing with energy saving bulbs. In the present day world where everybody is encouraged to go green so as to curb global warming, Walmart have curved the niche setting measurable and attainable targets. On the other hand, I see it also as real and timely. When I use the same example, the introduction of the green bulbs came in handy with the environmental concerns which everybody young and old are embracing. This in itself is an innovation of responding to change in the environment and at the same time grow in business. The lesson I can learn from Walmarts innovation strategy is that as an entrepreneur and an innovator, one need to think big, respond to changes rapidly, and travel the road of achievement as a team. The reason is that one need to see a broader perspective of issues, come up with new ideas as a team, and implement them to reality. My recommendation to Walmart is that besides their supply chain information system that is efficient and effective, they need to focus on online systems where customers are able to inquire, purchase products, and deliver these products to customers at their door steps on within 24 hours. On the other hand, customers are able to pay online with their master card. The information system must be one that can show case all Walmarts products online without jamming. This calls for their own independent and secure information system, competent expert with high integrity virtues.

The Effects of Alcohol on the Prenatal Development of Infants

Numerous studies have already proven that alcohol intake during pregnancy results in adverse effects to the physical and mental development of infants. Most of these outcomes begin while the baby is still in the womb, and will continue to manifest as the child grows into adulthood.Some of the effects of maternal alcohol consumption during pregnancy include low birth weight, miscarriage, stillbirth and Fetal Alcohol Syndrome (FAS). FAS, in turn, has been linked to skeletal abnormalities, cardiac defects and genitourinary malfunctions (Damgaard, Jensen, The Nordic Cryptorchidism Study Group, Petersen, Skakkebà ¦k, Toppari and Main, 2007).The Deadly BrewAlcohol is a beverage that can be produced by fermenting several plant products, such as corn, grapes, apples and potatoes. The process of distillation increases the alcoholic content of a fermented beverage, resulting in â€Å"hard liquour† like whisky or rhum. Ethanol is the type of alcohol found in beverages. It is composed of relatively small molecules that the body easily and quickly absorbs (Fredrickson, Nolen-Hoeksema, Loftus and Smith, 2003).Deadlier EffectsOnce an alcoholic beverage is swallowed, it proceeds to the stomach and the small intestine – organs that have large amounts of small blood vessels. These blood vessels carry ethanol molecules into the bloodstream, where they are rapidly absorbed by other organs in the body. Alcohol has the most immediate effect on the brain, as it receives a substantial amount of blood that the heart pumps. In addition, the brain’s fatty tissue absorbs alcohol very well (Fredrickson, Nolen-Hoeksema, Loftus and Smith, 2003).Toxic Components.Alcohol is composed mainly of carcinogencic substances. In 1998, the International Agency for Research in Cancer (IARC) claimed that beer, wine and spirits contain both known and suspected human carcinogens such as acid aldehyde, nitrosamines, aflatoxins, ethyl carbamate (urethane), asbestos and arsenic compounds . A 2001 study regarding the rise of breast cancer fatalities in the United States revealed that women who drank at least one alcoholic beverage daily increased their risk of having breast cancer by 10-30% (Calle, Feigelson, Robertson, Thun and Wingo, 2001).A 1999 study among Puerto Rican men and women, meanwhile, proved that drinkers of alcoholic beverages were more prone to cancers of the oral cavity and pharynx (excluding lip and nasopharynx) than those who do not (Brown, Fraumeni, Harty, Hayes, Kleinman, Bravo-Otero and Winn, 1999).Alcohol and the Developing FetusAccording to the article Does Alcohol Increase the Risk of Preterm Delivery? (2000), â€Å"preterm delivery is an important contributor to neonatal morbidity and morality† (Jà ¸rgen, Kesmodel and Olsen, 2000).Given the aforementioned harmful components and effects of alcohol, it is only a matter of common logic to assume that pregnant women who drink while expecting will give birth to children who will either di e early or will have to live with serious health problems for the rest of their lives. What is dismaying is that alcohol intake during pregnancy is a preventable cause of birth defects and illnesses and infant death. Below is an elaboration of some of the effects of alcohol on the prenatal development of infants:Premature DeliveryAccording to Theresa Kellerman, founder and director of the FAS Community Resource Center (an Arizona-based organization helping individuals and families that are affected by Fetal Alcohol Syndrome and Fetal Alcohol Spectrum Disorders), alcohol intake during pregnancy exposes an expectant mother to other forms of high-risk behavior, which, in turn, result in premature labor.These risk factors include sexually-transmitted diseases (STDs), physical abuse, drug abuse, lack of prenatal care and poor nutrition.Women who abuse alcohol while pregnant are also more likely to engage in substance abuse during pregnancy. They are also more prone to get into abusive re lationships, which often result in physical abuse and the transmission of STDs. Furthermore, alcohol interferes with the body’s ability to absorb and process nutrients. Denial over their drinking problem prevents alcoholic pregnant women to seek treatment (Kellerman, 2006).Miscarriage and StillbirthAlcohol consumption during pregnancy – regardless of the amount consumed – can result in miscarriage and stillbirth. Alcohol is a teratogen, a substance that impairs normal fetal development and may result in miscarriage, birth defects and pregnancy complications (Bower and Elliot, 2008). Even fathers who drink may be responsible for their wives’ miscarriage or giving birth to stillborn babies.Although males can produce sperm throughout their lifetime, sperm cells, just like other cells in the human body, age – the effects of excessive drinking are more profound on older sperm cells than on younger ones. As a result, men who drink (even if they are marri ed to non-drinkers) are more likely to produce an unhealthy embryo (Saey, 2008).ConclusionIndeed, health is wealth. No amount of expert medical care can replace the joy and freedom of good health. Furthermore, no society will prosper if its members are plagued with various health problems. Therefore, every individual must take it upon himself or herself to stay healthy by assuming a healthy lifestyle. By having good health, a person will not only be able to become a functional member of society – he or she will be able to produce healthy offspring that are capable of continuing or even improving society’s achievements.ReferencesBrown, L.M., Fraumeni, J. Jr. F., Harty, L.C., Hayes, R.B., Kleinman, D.V., Bravo-Otero, E. & Winn, D.M. (1999). Tobacco and Alcohol Use and Oral Cancer in Puerto Rico. Cancer  Causes and Control, 10, 27-33. Retrieved June 22, 2003 from JSTOR.Bower, C. & Bower, E.J. (2008). Alcohol and Pregnancy: The Pivotal Role of the Obstetrician.Australian and New Zealand Journal of Obstetrics and Gynecology, 48, 236-239. Retrieved June 23, 2008 from EBSCOhost.Calle, E.E., Feigelson, H.S., Robertson, A.S., Thun, M.J. & Wingo, P.A.. (2001). Alcohol  Consumption Increases the Risk of Fatal Breast Cancer (United States). Cancer Causes and Control, 12, 895-902. Retrieved June 22, 2008 from JSTOR.

Human Resource Management Case Study Essay

1. Ch 1, page 60-61, question 4: What is â€Å"evidence based HR†? Why might an HR department resist becoming evidenced based? The concept of â€Å"evidence based HR† is using specific tools (key performance indicators) to help clarify course of action, identify errors or omissions, and align HR to corporate strategy. It is a decision-making process combining critical thinking with use of the best available scientific evidence and business information (Rousseau & Barends 2011). It forces HR professionals to measure their efficiency and effectiveness quantitatively. In addition, it presents a clearer way to share information with colleagues in a systematic way. One tool that is used is Critical Path Analysis, which helps illustrate the minimum time needed to complete a process. Another method is process mapping, which can help determine needed steps/tasks and enable users to systematically follow the process outlined. Utilizing these tools helps develop uniform, consiste nt operating procedures, which results in a more efficient system. Two key characteristics of evidence based HR are a focus on business strategy, taking into account financial and organization performance measures that are most critical to the company and then using quantitative methods to identify human capital strategies that drive those outcomes; and standards of evidence, in which criteria is used to determine the importance of various relationships which can be used to better design employee strategies. An example is the measurement of employee productivity and work quality against organizational goals. Evidence based HR forces human resource professionals to systematically gather, utilize and evaluate information based on results. In addition, it causes HR professionals to be precise and utilize valid evidence. To do this, HR professionals must evaluate evidence to determine its’ worth. Furthermore, it involves change and systematic work skills, which often causes resistance. However, at the same time evidence based HR allows HR professionals to be viewed as a source of competitive advantage and as a department that creates value by maximizing the use of the company’s most important resource, its’ personnel. It also elevates the importance of employees as a resource beyond the HR department and increases the value of the department to the entire organization, and most importantly utilizes statistical evidence to â€Å"find the critical human levers for improving business results† (Gibbons & Woock 2007). 2. Ch 2, page 99,-100 question 4: How can strategic management within the HRM department ensure that HRM plays an effective role in the company’s strategic management process? When strategic management within the HRM department is used to ensure that HRM plays an effective role in the company’s strategic management processes, it will basically force HRM to review their mission, their goals and their objectives. These factors will have to be in-line with the strategic processes of the company. The two have to be in-sync when they are handled through strategic management. It integrates HRM into the company and the strategic processes from HRM are then also integrated into the strategic management processes of the company. HRM becomes a more active, effective department and both HRM and management then work as a unified team towards the company’s mission, objectives, and values. It creates the most productive and opportune environment for customers and the company. When we look at it from the opposite spectrum, if strategic management is not in place within the HRM department, it will create a state where the company is less efficient because although strategic management is being used throughout the company, it is not being used within the HRM department. When we strategically manage HR, we become involved with the employees from a strategic basis. By doing so, we are better able to handle the resources needed for the employees and to provide our employees with more, like better benefits, more comprehensive compensation packages, and related items. The employees are encouraged in their work because they are being motivated by the strategic management of HRM and what it’s doing to provide for them – the employees. Due to the greater encouragement, it reduces employee turnover and increases efficiency. This causes the company to be able to fulfi ll their goals and objectives that have been both created and managed through the strategic management process. 3. Ch 3, page 147-148, question 3: Many companies have dress codes that require men to wear suits and women to wear dresses. Is this discriminatory according to disparate treatment theory? Why? The process of establishing if an action/policy is discriminatory can be very challenging. However, a number of theories seek to differentiate actions that constitute  discrimination and those that do not. Disparate treatment Theory is amongst the most commonly used theories that have been used to ascertain whether an act or policy amounts to discrimination or not. The theory argues that one is subject to discrimination if they are treated less favorably than others are in similar situations (Bent, 2011). Many companies have dress codes that require men to wear suits and women to wear dresses. This has raised a debate on whether such policies are discriminatory or not. Based on the Disparate Treatment Theory, such a policy cannot be considered as discriminatory. Men and women cannot be on the same platform in that they both dress differently. Even if people from both sexes were allowed to determine whatever they dress, there is no way that men would dress exactly as women (Belton, 2004). The most important consideration as to whether the policy that commits men to wear suits and women to wear dresses amounts to discrimination would call for the scrutiny of the motive. Many companies that take up such a policy are not inclined to punishing or discriminating against women. Rather, they attribute the policy to the need for sanity and decency at the work place. In a world where dresses for women can expose some of the most sensitive parts of their body, the need for regulation cannot be ignored. Furthermore, one cannot claim that putting on dresses is less fashionable as compared to putting on suits. The design and fitting of the dress and the suit would determine whether one is neat or not. From all these considerations, the disparate treatment theory rules out the possibility of the policy that requires men to put on suits and women dresses as discriminatory to women (Bent, 2011). 4. Ch 4, page 185, question 6: What are the trade-offs between the different approaches to job design? Which approach do you think should be weighted most heavily when designing jobs? There are three major approaches to job design: the engineering approach, human approach, and the job characteristic approach. Each is valuable in its own way, but there are trade-offs that occur depending upon the approach, which is taken. With the engineering approach (also called the task approach), there is a lot of repetition. This can lead to boredom. In this approach, there is specialization to the task, and employees are not encouraged to learn more or improve the job. Because jobs designed using this approach have employees typically set at a  particular station, each employee is basically a wheel in a cog, executing part of a task and passing it on to the next station. There is little interaction between employees and often the job is paced according to a machine (part of an assembly line). It is difficult to take pride in one’s work since there is not a finished product. Employees do not have a say in their work, tools or methods used. However, work is performed accurately, by the best person selected for the job, in a procedural, systematic way. This increases specialization thus leading to higher output. The human approach increases employees’ job satisfaction and emphasis motivators like responsibility, advancement, and recognition. In addition, importance is placed on working conditions, pay, job security, and employee relations. The psychological needs of employees are paramount in designing jobs, which increases employee satisfaction, but does not necessarily guarantee satisfaction or performance. Another approach, job characteristics, is based on the idea that employees will perform better if motivation and rewards are built into the work. As such, the work is designed to offer a variety of activities so employees can use different skills, tasks are executed in a manner that there is completion of an identifiable piece of work, there is work of importance, employees have the ability to work based on their knowledge, not as part of an assembly line, and there is feedback in regards to the work. This is optimal, however, drawbacks of this approach include needing to find people who are motivated to find best practices, who can work independently, and who do find motivation at work. The approach which should be weighted more heavily is dependent on the job. In the case of making an automobile or similar repetitive task, one would want to utilize an engineering approach, since the work is repetitive, precise, and focused on output. In most other cases, the job characteristics approach seems logical since it is likely to lead to better, more satisfied employees. It would be important to give sufficient feedback to help manage the employee toward optimal performance utilizing this approach. Ultimately, efficiency and productivity are key, so motivation must be included in some form to produce better results. The job characteristics approach appears to take in regards more factors (skill variety, task identity and significance, autonomy and feedback) to produce greater results. References Bent, J.R., (2011). The telltale sign of discrimination: probabilities, information asymmetries, and the systematic disparate treatment theory, University of Michigan Journal of Law Reform, 2011, Volume 44, Issue 4, p. 797 Belton, R. (2004). Employment discrimination law: cases and materials on equality in the workplace. Thomson/West Bobinski, D. (2004). The role of HR in strategic planning. Management Issues. Retrieved from: http://www.management-issues.com/2006/5/25/opinion/the-role-of-hr-in-strategic-planning.asp Campion, M.A. & Thayer, P.W. (1987). Job design: Approaches, outcomes, and trade-offs. Organizational Dynamics, 15(3), 66-80. Gibbons, J. M., Woock, C. (2007). Evidence-Based Human Resources: A Primer and Summary of Current Literature. The Conference Board, Retrieved from: http://www.conference-board.org/ Mashete, P. (2008). Approach to job design. Human Resource Knowledge. Retrieved from http://hrknowledge.blogspot.com/2008/01/approach-to-job-design.html Noe, R., J. Hollenback, B. Gerhart, Wright P. (2013) Human resources management (8th ed.) New York: McGraw-Hill Higher Education. Rousseau, D. M., Barends, E. G. R. (2011). Becoming an evidence-based HR practitioner. Human Resource Management Journal, 21(3), pages 221–235.

Useful Mandarin Phrases for the Mid-Autumn Festival

One of the most important holidays in Chinese culture is the Mid-Autumn Festival, also known as Moon Festival. Since the Moon Festival is at harvest time, it is a good occasion to celebrate the abundance of Mother Nature. Moon Festival is a time to gather with family and friends under the full moon sky while eating moon cake, pomelo fruit, and barbecued delicacies. Moon Festival Date Moon Festival falls on the 15th day of the 8th lunar month, so the date on the Gregorian calendar is different from year to year, but it is always on the full moon. The dates for Moon Festival are as follows: 2018 - September 242019 -  September 132020 - October 12021 - September 212022 - September 10 History of Moon Festival As with most Chinese festivals, there is a story to go along with Moon Festival. There are many versions of the Moon Festival legend, but most of them involve the archer Hou Yi and his wife Chang’e. Many years ago, there were ten suns in the sky. Crops could not grow and rivers ran dry, so the people were dying of hunger and thirst. Hou Yi took his bow and arrows and shot down nine of the ten suns, saving the people. As a reward, the Western Queen Mother gave Hou Yi a potion. If Hou Yi shares that potion with his wife, they will both live forever, but if only one of them takes the potion, he or she will become a god. Hou Yi and Chang’e plan to take the potion together. But one of Hou Yi’s enemies, Feng Meng, hears about the potion and plans to steal it. One night, on a full moon, Feng Meng kills Hou Yi, then forces Chang’e to give him the potion. Rather than give the evil man the potion, Chang’e drinks it all herself. She starts to rise into heaven, but she feels a close connection to the world of the mortals, and wants to stay close to them, so she stops at the moon, the closest body to earth. Moon Cakes The traditional food of Moon Festival is Moon Cake, which is a pastry stuffed with filling such as egg yolk, lotus seed paste, red bean paste, coconut, walnuts, or dates. The tops of Moon cakes usually have Chinese characters representing longevity or harmony. Moon Festival Vocabulary Here are some Mandarin phrases for Mid-Autumn Festival: Audio links are marked with ââ€" º English Pinyin Traditional Characters Simplified Characters Moon Festival zhng qi ji Hou Yi Hu Y Change Chng moon cake yu bng admiring the moon shng yu reunion tun yun barbecue ko ru pomelo fruit yuzi give presents sngl

Factors Affecting Trade Volume - Free Essay Example

Sample details Pages: 28 Words: 8291 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Introduction The area of research for this thesis focuses on empirical study determinants of trade volume of Asian developing economies; which constitute the success of global trade. The relationship among determinants of trade studied in the context of developing economies which includes: Pakistan, India, China, Bangladesh and Sri Lanka. Factors those affects on trade includes: Tariff, Import duty, Inflation, Foreign Direct Investment (F.D.I), Exchange Rate, Transportation Cost and Gross domestic Product (G.D.P) affect on trade volume, based on gravity equation framework in which foreign trade depend in between countries. Don’t waste time! Our writers will create an original "Factors Affecting Trade Volume" essay for you Create order To accomplish this purpose by using standard gravity model, study comprises multivariate regression on trade of Asian economies. Study found that trade depend on distance in between countries, wealth, tariff and non tariff barriers (N.T.Bs) like exchange and capital control. Export volume of an economy measures trade volume of a particular country to indicate economic growth of a particular country (Tamirisa, 1999). An Economy that have positive balance of trade, improve economic growth of a particular country due to effective economic and financial performance. Besides this basic affects exchange and capital controls influence trade through other channels, for example, transaction cost, exchange rate, foreign exchange risk and trade financing. Capital control in particular country affect on trade in goods by reducing inter temporal trade and portfolio diversification, which may substitute or complement intra temporal trade (Tamirisa, 1999). Therefore, this thesis aims to study determinants of trade volume based on developing economies. A restricted trade policies imposed by a government is harm for a trade. Study found that world trade organization (W.T.O) rules regulations foster trade volume based on strategic planning of global trade at this competitive era. Despite the net economic and social benefits; most governments reduce subsidies and open economic trade. It has been realized in this study manufacturing tariffs remained high in developing countries. However; subsidies and trade policies affects on agricultural, textile and service industries of both rich and poor countries which continued hamper efficient resource allocation, economic growth and poverty alleviation (Anderson, 2004). Fundamentally, capital controls affects on trade by decreasing inter temporal trade and portfolio diversification. The impact of trade in goods depends, if trade in goods and trade in factors are substitute (for example, as found in the basic Heckscher-Ohlin m odel) the volume of trade in goods likely to fall. If trade in goods and trade in factors are complement (as, for example, in some models with increasing returns to scale), the volume of trade in goods increases (Tamirisa, 1999). The empirical evidence indicates that foreign direct investment tend to increase host countries export and import due to liquidity in a financial market. Foreign direct investment and exports are alternative strategies in this case. Since multinational companies (M.N.Cs) avoid to pay tariff. They initiate subsidiary companies at the host country to cross subsidize in other countries based on strategic management. Capital controls often limit business opportunities for hedging foreign exchange risk and trade financing, thus inhibit trade (Tamirisa, 1999). The gravity equation is one of the most empirically successful studies. It relates trade flow to GDP, distance and other factors that affects on the volume of trade (Anderson and Wincoop, 2003). For t his purpose, the overall effects of trade barriers on Asian developing economies empirically studied, analyzed, tested and resulted. Justification For The Research This study is timely significant for theoretical, methodological and practical reasons. With regards to theoretical significance; this study contributes to the literature based on their specification. Determinants of trade volume of Asian developing economies comprises, Pakistan, India, China, Bangladesh and Sri Lanka to identify their trade issues with respect to other regions based on gravity equation framework. As mentioned in empirical literature, determinants of trade volume contribute their significance at this competitive era, where lot of resistance exists at global market. While competition indicate threat for any type of business either manufacturing or service industry. On other hand trade barriers like Tariff, Import duty, Capital Control through Foreign direct investment (F.D.I), Transportation cost and Inflation raise more critical issues to survive in this competitive era. This study also practically signifies from management prospective for those entrepreneurs intending to cross subsidize their business at global market to retain their leading market share. Results of this study provide guidelines for entrepreneurs to identify their, Economic and Socio-Cultural issues that lead to trade barriers for their investment. This study support them based on empirical understanding about trade barriers of developing economies and how it affects on trade. Finally, this study will benefit on strategic decision making to implement trade policies in global market. This chapter comprises the foundation of this study. It introduces research objective and focus on trade and its determinants based on theoretical practical justification of this research. Then major terms used in this study are discussed comprehensively. Literature Review This chapter based on comprehensive literature review, those are useful for this study. The objective is to evaluate determinants of trade volume in the context of literature review. To this end, this chapter divided into three sections. First section deal broadly with trade and its determinants for which this thesis first explains determinants of trade and then model based empirical finding those are relevant to this research. The second section will investigate theoretical perspective and determinants of trade. The third section interlinks determinants of trade with empirical findings based on Asian developing economies. In short, this thesis first discuss trade theories as mentioned in the literature and then pertinent model present; which will not only explain trade theories but also highlight the link determinants of trade and developing economies. Overview Of International Trade It is a well accepted idea that free trade benefits all countries around the world; it is also a well known fact that hardly any country has always been practice free trade policies. Traditionally trade theories contend that government intervenes on foreign trade because of political pressure from interest groups. Since import can pose a threat to domestic industries, these industries lobby intensely for trade protection (Krueger, 1974, Pincus 1975, Mayer 1984). Other studies suggest that governments are tempted to use trade bargaining to gain larger share from global trade (Morishima, 1989); [Cheng, Liu, and Yang, 1999]. International trade is more or less substitute of foreign investment. On the contrary factor proportion hypothesis [Helpman, 1984; Markusen, 1984; Helpman and Krugman, 1985; Ethier and Horn, 1990] seems to predict that international trade and investments are complement as firms take advantage of factor price differences through cross border vertical integration . According to Aizenman, Joshua and Ilan Noy (2005), it is common to expect bidirectional linkage between FDI and trade. However, it is difficult to indicate whether inflows and outflows of FDI affect directly on trade in different types of goods and services. Study found there is strong feedback relationship between FDI and trade; especially in manufacturing industries. There is some evidence indicate trade enhancement lead to extensive competition in domestic and global market at this era (S. and W. Chaisrisawatsuk, 2007). Economic integration promises to raise trade volume through trade creation by engaging trade agreements. At micro level, interdependence between international trade and investment is magnified through intra firm trade (trade among foreign affiliates), outsourcing of raw material, intermediate goods, output and firms vertical integration behavior (S. and W. Chaisrisawatsuk, 2007). Since trade liberalization implies a liberated (less costly) movement of good s and services while investment liberalization implies better environment for movement of resources. Increasing international trade based on sustainable comparative advantage is a key condition for countries to realize gain from global trade. If trade and investment are complementary, FDI inflow supposed to enhance gain from trade. In addition, FDI inflow to the host country expected to improve efficiency and productivity of factors production, therefore it enhances the countrys competitiveness (S. and W. Chaisrisawatsuk, 2007). This study applies gravity model approach to investigate the relationship between international trade and foreign investment. Generally, countries with similar resources produce similar products. However, existence of two way trade (Bilateral Trade) in similar products and two way investments among developed as well as developing economies indicates that there is a room for trade and investment. Thus, simultaneous equation estimate is more appropriate app roach used in order to capture feedback effects between trade and investment in order to examine relationships between trade and investment (S. and W. Chaisrisawatsuk, 2007). Factors Influence International Trade Study found that tariff, inflation, transportation costs are critical factors affect on trade of developing economies. The empirical evidence indicates foreign direct investment tends to increase host countries exports, although the impact on imports is relatively weak. In the presence of tariff barriers, however restrictions on foreign direct investment distort trade. According to the static general equilibrium model, trade is determined by the wealth and size of countries. While distance has a negative effect on trade, in a part because of trade costs (e.g., transportation and communication) are likely increase with respect to distance. Tariff barrier in the importing countries also tend to have a negative, albeit insignificant effect on exports into these countries. While Per capita, G.D.P and Population, on other hand, have significant positive effects on exports (Tamirisa, 1999). Factors those affect on trade justify in detail below. Tariff A tariff is a tax on import which is collected by the federal government to build infrastructure of a particular country. Tariff usually aims first to limit import and second to raise government revenue, thats reason multinational corporations (M.N.Cs) avoid to pay tariff. And initiate subsidiary companies at host country through cross subsidization to retain their leading market share at global market. Empirical studies found tariff lead to trade distortion due to it have a negative effect on trade which raises the cost of trade. Due to tariff rates significantly reduce export of developing and transition economies (Tamirisa, 1999). Model predicts the presence of trade barriers, such as tariffs and non-tariff barriers (N.T.Bs) diminish trade volume. The empirical study found tariff rate interact with the estimated share of free trade. Since trade distortions caused by tariffs; which indicate low growth rate in a country that needs to import more under free trade regime. Governm ent intervenes in foreign transactions by imposing tariff on import of foreign goods. Therefore, tariff has two effects on economy, namely distortion of resource allocation and the transfer of revenue. Thus, distortion effects of tariffs on the growth rate evidently hinge free trade (Lee, 1993). Empirical study found large variation in trade, caused by tariffs and transportation cost. Tariff liberalization shift trade from rich to poor and domestic to global countries, this estimates imply that elimination of tariff create more trade for poor countries. It is also implies that tariff elimination would divert trade away from continental to preferential trading areas. It has been studied in empirical literature tariffs, distance and production costs are important factors affect on trade; study found tariffs reduce trade significantly. Where low tariff rate is exists among organization of economic cooperation and development (O.E.C.D) countries. While high tariff is exist among Non- O.E.C.D countries. Therefore elimination of tariff rate would raise global trade significantly (Lai and Zhu, 2004). Inflation It has been realized in comprehensive literature review inflation tends to hamper the volume of trade and slow down economic growth. The initial effects arise from decreased in domestic demand. Thus, result rises in price fluctuation relative to those competing or importing countries (Lovasy, 1962). The initial affects of inflation is an increase the price of goods and services in domestic market, which makes selling on that market more profitable than export. Since market price influence a volume of trade. However inflationary affects tend to encourage such change with a view to raise the price of commodity and maintain it high level. The creation of substitute adversely affects on the volume of trade. If inflation prolong over a period of years, trade will adversely affect through structural changes in an economy (Lovasy, 1962). The affects of inflation on exports may be counteracted by government actions in various forms like: adjustment of exchange rates, retention quota, subsidies on exports (either straight or through multiple rate practices). In other hand devaluation or gradual depreciation of exchange rate will raise the prices of trade (Lovasy, 1962). Since many other factors influence export, inflation can be a visible affects if it lead the price out of line with price in competing countries or importing areas (Lovasy, 1962). On the other hand, extensive empirical research such as Levine and Renelt (1992), Levine and Zervos (1993), Stanners (1993), Bruno and Easterly (1998) and Easterly (2003) indicate negative relationship between inflation and economic growth (Chowdhury and Siregar, 2004). Transportation Cost Transportation cost is one of the significant factor affects on trade. The importance of geography has been recognized by Moneta (1959) as well as by Hummels (1998). It was found that distance is a critical factor in-between country, whether they share common border or they are landlocked. The infrastructure depends on transport and communications network. Study found that infrastructure is quantitatively important factor to determine transport cost (LimÃÆ'ƒÂ £o and Venables, 2001). Generally these types of cost associated in foreign trade. 1. Physical Shipping cost. 2. Time related cost (Lead Time). 3. Cost of cultural unfamiliarity. Among these costs physical and shipping cost obvious with respect to distance in a trade (Frankel, 1997 quoted from Linnemann, 1996). Generally neighbor countries have more integrated logistics network that reduce number of trans-shipments. Second, neighboring countries are more likely to have transit and custom agreements th at reduce transit time and translate into lower shipping and insurance cost. This suggests that distance affects trade volumes through transportation costs and through other channels such as information, which is often associated with distance. It has been realized that poor communication network leads to higher transportation cost, which significantly affect on the volume of trade (LimÃÆ'ƒÂ £o and Venables, 2001). Transportation cost negatively affect on trade volumes due to complex geographical location, infrastructure, administrative barriers and the structure of shipping industry. Based on comprehensive literature review, land locked countries face transportation cost fifteen percent higher and lower trade volumes than representative coastal countries (LimÃÆ'ƒÂ £o and Venables, 2001). Exchange And Capital Control Study found that most countries have liberalize policy on transfers payments; since economic policy is increasingly shifting toward liberalize transaction. Exchange control acts as a tax on foreign currency required for purchasing goods and services. Besides this basic effect, exchange and capital controls influence trade through other channels as well, for example, transaction cost; exchange rates, foreign exchange risk and trade financing. Study found that exchange and capital control often raise transaction cost (Tamirisa, 1999). Furthermore, exchange and capital controls can reduce trade by limiting the transfer of technology, managerial expertise and skills through foreign direct investment. Capital controls often limit business opportunities for hedging foreign exchange risk and trade financing. Thus inhibit trade volume in the presence of capital control. Exchange and capital control on other hand, often associated with an overvalued exchange rate, which inhibit trade. Mo reover capital controls help to retain domestic savings and higher saving leads to higher investment in export sectors; thus trade may increase (Tamirisa, 1999). Study found that capital controls are critical barrier to export into developing and transition economies; but not to industrialized countries. These findings attribute to capital controls, which noticeably reduce export into developing and transition economies and have only a minor negative impact on export for developed economies. Reason is that industrial economies have relatively liberal regimes for global capital movement. While many developing and transition economies continue maintain various capital controls (Tamirisa, 1999). Exchange and capital controls affect trade through interrelated channels, including transaction cost, and volatility of exchange rate, inter temporal trade, and portfolio diversification. Study realized exchange and capital control have a negative impact on export. However, this result va ries depending on the level of development in the country and type of exchange and capital control. These results may reflect the extent, to which restrictions on current payment and transfers have been liberalized (Tamirisa, 1999). Gross Domestic Product Trade cost operates primarily via price. In the context of monopolistic competition model, difficulty is created by the complexity of constant elasticity substitution (C.E.S) price index in the presence of asymmetric trade costs. To resolve this difficulty, three approaches have been taken: 1. G.D.P price indexes are used to capture the price effects in the gravity equation as Bergstrand (1985, 1989) and Baier and Bergstrand (2001). 2. Estimated border effects are used to measure the price effects, as in Anderson and Wincoop (2003) and Balistreri and Hillberry (2001). 3. Fixed effects are used to account for the price effects, as in Harrigan (1996), Hummels (1999), Redding and Venables (2002), and others (Lai and Zhu, 2004). Turn to an empirical investigation export from one country to other trading partners depends on gross domestic product (G.D.P). By using [Rauchs, 1999] classification sample consist in groups: homogeneous goods, differentiated goods in between categ ories. On the basis of gravity equation framework trade in each of these groups move from homogeneous to differentiated goods; studies found elasticity of export with respect to G.D.P rise significantly. These findings are empirically significant both economically and statistically. The G.D.P of exporting country is found to be a powerful explanatory variable to explain trade relations. There are demographic variables such as G.D.P and population which relate to the size and stage of economic development based on export and import in between countries. These factors are included in the study despite controlling the effect of dependent variable to determine whether size of an economy has an independent influence on trade relations (Feenstra, Markusen, and Rose, 2001). The ratio of trade volume to real G.D.P is often used as an indicator of an economys openness to international trade (Prasad and Gable, 1998). Import Duty Import duties refer to a tax in which importer pay to the government in order to bring foreign products in a particular country. Most of the import duties are figured in a percentage on declared value of the commodity. An import duty differs from product to product and depends on commodity is being imported. Its declared value of origin country. While product group used to assess import duties in between two countries (Sampson and Yeats, 1976). The competitiveness of domestic manufacturers adversely affected vis-ÃÆ'ƒÂ  -vis import because importer liable to pay additional charges due to execution of projects financed by a trading partners (Mukhopadhyay, 2002). Like India fetched excessive price because of banning imports on some goods, they charged very high duty running around the price of goods. These non traditional goods (mainly consumer durables) provided great stimulus to the contraband trade. However, when there is a massive scale of contraband trade, country f ace substantial loss in term of revenue (Sarvananthan, 1994). Foreign Direct Investment Study found foreign direct investment change industrial structure and trade flow across a country. Since FDI help in cost reduction and export promotion at host countries through up date technology. Foreign direct Investment (FDI) also provides financial resource for investment at a host country. In other hand it provides foreign exchange thats positively affect on the balance of trade. Indeed, in the wake of debt crisis, FDI has come to be viewed as an increasingly important source of revenue for developing countries (Goldar and Ishigami, 1999). Advantage of FDI is that it assists the host country to improve its export performance. By raising the level of efficiency and the standards of product quality, FDI makes a positive impact on the host countrys export. Furthermore, it provides better access to export in foreign markets. According to the Hymer-Kindleberger theory (Kindleberger, 1969) foreign owned firms investment at the host country; if it possesses competitive advantage which allows them sustainable growth. Foreign direct investment plays significant role to promote export and to change industrial structure of Asian countries through transfer of technology. Dunnings eclectic theory of international trade (Dunning, 1988) explain overseas market served by enterprises in different geographical location around the world. According to this theory, firms invest in a country if following conditions are satisfied: Firm possesses some ownership advantages vis-ÃÆ'ƒÂ  -vis firms with other nationalities serving particular markets. It is more beneficial for the firm to produce in foreign country due to update technology and Infrastructure of a particular country (Goldar and Ishigami, 1999). FDI contribute on economic growth of the region through cost reduction and export promotion. On other hand, rapid growth is being attained by the region due to update technology and infrastructure for a particular country. As growth leads to expansion o f both domestic and global market (Goldar and Ishigami, 1999). FDI flow in Asia has shifted over a time from Asian Newly Industrialize Economies (N.I.Es) to A.S.E.A.N. While china and Japan have became persistent source of FDI in developing countries (Goldar and Ishigami, 1999). During the past two decades, Taiwan, South Korea, Singapore, and Hong Kong witnessed most rapid economic growth in all developing countries. Their export oriented strategy emphasis on foreign investment and trade is considered the main cause for their success (Amirahmadi and Weiping Wu, 1994). Many countries established Export Processing Zones and Special Economic Zone to promote foreign investment and export to other countries. These zones have preferential treatment in manufacturing process. Their products are targeted for export market. Taiwan and China are the chief example; where these zones have become major attractions of FDI (Amirahmadi and Weiping Wu, 1994). Exports and FDI is complementary instrument in economic growth [Veugelers and Yamawaki, 1991]. Increasing import and inward FDI increase competition on domestic market and reduce domestic firms profitability. FDI allow transfer of technology to produce and sell goods on foreign market. Empirical study found import have positive effects on competitive behavior of domestic firms and have negative effects on their profitability; it has been analyzed theoretically (e.g. by Caves [1985], Jacquemin [1982]) and empirically in the literature (e.g. by Levinsohn [1991], Pugel [1978, 1980], Turner [1980]); (Bertschek, 1995). Based on export oriented group of countries, foreign investment is a more powerful driving force in economic growth process rather than domestic investment. According to this supplementary hypothesis the elasticity of output with respect to foreign capital is predicted as exceeding with respect to domestic capital (Balasubramanyam, Salisu and Sapsford, 1996). Model For Study. Study comprises factors affecting trade volume of developing economies based on gravity equation framework. Foreign trade relation play vital role for economic development. Foreign trade is influenced by multinational corporation (M.N.Cs). These underlying relationships explain the effects, trade barriers of developing economies based on foreign trade relation. This section present trade model and its key concepts used in this study. Determinants of trade and its relationship with trade theory have been identified, tested and resulted. On the basis of comprehensive literature review; it observed that ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¹Ã…“tariff, inflation and transportation cost are significant factors affects on trade volume of Asian countries. The trade model tested based on developed hypotheses in the next section of this research. Trade Theory Based on comprehensive literature following are the facets of trade theories focus on various concepts associated with global trade in terms of theories expanded by the scholars. Gravity Model Of Trade Theory Study found that international trade flow well described by a ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"gravity equation frameworkÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚  indeed, gravity equation is one of the empirical accomplishment stories in economics and trade theories (Feenstra, Markusen and Rose, 1999). The gravity equation framework is one of the most popular empirical evidence for the whole range of spatial relations in economics and international trade over a period of time. Generally it apply to study determinants of trade volume and to assess various regional economic integration with respect to developing economies (Cieslik, 2007). In the context of international trade, gravity equation in its basic form nominate the amount of trade in-between two countries increases in their size and proportion to their national income, and inversely decreases by the cost of transport between them, (As measured by distance between their economic centers). This relationship closely look like Ne wtons (1687) law of gravitation which states that every atom in the universe attracts other atom with a force that is comparative to the product of their masses and inversely comparative to the distance among particles (Cieslik, 2007). Although gravity equation in its basic form performs a good job to justify foreign trade based on size of trading countries and distance between them. Therefore, in order to improve performance of the gravity equation in empirical studies of trade; one should take into account the impact of other factors that affects on volume of trade (Cieslik, 2007). Theoretical Foundation Of Gravity Model The concept of the gravity model based on Newtons Law of Universal gravitation which relate the force of attraction between two objects with their combined masses and distance between them. The application of gravity model in social sciences empirically proposed by James Stewart in the 1940s (Fitzsimons et al., 1999). And then originally applied to international trade by Tinbergen (1962), the gravity model predicts trade flow between any two countries as a function of their size and distance between them (Walsh, 2006). Economic size is measured by gross domestic product, population and per capita income. Distance typically calculated through transportation cost between countries capital cities. In some studies this is replaced by the measures of remoteness through G.D.P or measure distances relative to the countrys average distance with all trading partners. Extension of this approach is to calculate trade cost with respect to barriers. And other restrictions on trade flow by co mparing predicted and actual levels of trade volume (Walsh, 2006). As the empirical applications of the gravity model has grown theoretically over a period of time; foundation of this model have also developed. Beginning with Anderson (1979); who illustrates gravity equation framework is consistent with a model of trade in which products are differentiated by the country of origin (Walsh, 2006). The gravity model is being established in a literature and measure potential trade between countries. The gravity model; defined by the Newtons Law of Gravitation, explain trade flow between two countries. It is one of the most popular empirical associations in economics and international trade. Earlier studies have estimated difference between observed values and predicted values those are calculated through O.L.S estimate of gravity model (Baldwin, 1994; and Nilsson, 2000); (Kalirajan and Singh, 2007). Justification Of The Gravity Model The Newtons physician primarily justify gravity model based on theoretical justification with their combined masses. Second justification for the gravity model was analyzed by Linneman (1966); (Rahman, 2003). Anderson (1979), Bergstrand (1985, 1989), Thursby (1987), Helpman Krugman (1985) share this view. Their studies identify number of variables. However, price and exchange variables can be omitted when products are perfect substitutes for one another in consumer preference. This structure of course, obtains the standard Heckscher-Ohlin (H-O) setting (Jakab 2001); (Rahman, 2003). Empirical Study Study found the gravity model in the context of international trade applied, first time independently by Tinbergen (1962) and PÃÆ'ƒÂ ¶yhÃÆ'ƒÂ ¶nen (1963) but they didnt have any theoretical justification at the beginning. The earliest but not completely successful attempts provide a theoretical justification for the gravity equation by Linneman (1966), Leamer and Stern (1970) and Leamer (1970). However, origin of the gravity equation from a model was not possible till the product homogeneity assumption; since early neoclassical trade literature was relaxed at that time (Cieslik, 2007). The first formal attempt to derive the gravity equation directly from theoretical point of view made by Anderson (1979) based on Armington hypothesis which argues that products differentiated by the country of origin. Anderson (1979) demonstrated to derive gravity equation by using properties of Cobb Douglas expenditure system when goods produced by a country. Andersons (1979 ) approach subsequently applied and extended by Bergstrand (1985) who derived and summarize equation in terms of trade flow (Cieslik, 2007). An alternative method proposed by Helpman (1987) who completely departed from neoclassical assumptions of traditional Heckscher-Ohlin-Samuelson model. Which assume monopolistic competition and product differentiation among various firm in all industries rather than countries. The monopolistic competition approach viewed as an elegant way to indigenize product differentiation and explain formally on the basis of Armington assumption. The main role of monopolistic competition in Helpmans (1987) model is to assure that different countries specialize in different varieties of products due to existence economies of scale, at the firm level. Insight has been formalized by Deardorff (1998) who derived gravity equation in its basic structure from traditional Hechscher-Ohlin-Samuelson model with complete specialize in production at a country level (C ieslik, 2007). Empirical Model Of Trade International trade is a vast study which comprises several model of trade one of them is gravity model. It is being used extensively in empirical studies of international trade and economics since 1960s. According to the static general equilibrium model, trade is determined by the wealth and size of the countries and distance between them. Theoretical foundation of the gravity model based on trade theories; under imperfect competition this has been integrated with the factor proportion and demand based theories of international trade (Tamirisa, 1999). The basic gravity equation is given by Where, Xkj = Exports from country k to country j. (Qk/Nk) and (Qj/Nj) = Per capita income of country k and j. Nk and Nj = Population of country k and j. Dkj = Geographical distance between country k and j. Akj = Denote factors distorting trade. ekj = Distributed error term. Based on above equation which can be modify by taking natural logs and defined tariff, capital cont rol and geographical distance as a trade distortions as follows: Where, Tjk = Import duty imposed by country j on import from country k, Ej = Aggregate measure of exchange and capital control in country j. The intercept accounts measured trade distortions on export volume. The model estimated by the ordinary least squares method (Tamirisa, 1999). Empirical Evidence Study found that tariff, inflation, transportation cost and capital control through foreign direct investment are critical barriers for developing and transition economies but not to developed economies. Controls on current payments and transfer reduce trade flow significantly (Tamirisa, 1999). Study found that distance has a significant affects on export in a part because of trade costs (e.g., transportation and communication) cost likely increase with respect to distance. Tariff barrier in importing countries also tend to have a negative affects. While per capita, G.D.P and population on the other hand have positive affects on export volume (Tamirisa, 1999). It has been realized in this study exchange and capital controls are significant barriers for developing and transition economies. These findings attribute to capital control, which noticeably reduce export in developing and transition economies and have minor negative affects for industrialized economies. The reason is that industrialized economies have relatively liberal regimes for global capital movements; while many developing and transition economies preserve various capital controls. While controls on transfer payment represent barrier for a trade (Tamirisa, 1999). Empirical Result An overall positive relationship found between trade and investment, greater the international trade among the countries, the higher level of F.D.I generates vice versa. In order to enjoy sustainable competitive advantage from trade liberalization, investments have a significant role for trade development (S. and W. Chaisrisawatsuk, 2007). In this research model, study based on theories influenced trade of developing countries. The empirical evidence indicates relationship between international trade and investment which suggest important role for policy coordination to gain potential benefit, in terms of social welfare improvement. The positive association found in-between trade and investment thats suggests these are complements. Since trade liberalization leads to welfare improvements, F.D.I induced trade expansion. The on going process of trade and agreement seems to focus on trade liberalization by reducing trade barriers of both tariff and non tariff which obstacle for inv estment liberalization (S. and W. Chaisrisawatsuk, 2007). Based on all discussions it has been realized in this study foreign trade have paramount significance more or less at all dimensions. The fact behind this; trade liberalization is foremost step for economic growth and development. Summary Based on comprehensive literature review it noticeably seems that trade barriers are critical factor to form trade liberalization in the context of developing economies. For practicing managers it realized that foreign trade is a vast study which has grown over the period of time at this competitive era, which bringing new concepts of foreign trade relations at this competitive era. The area of research focused to understand major constructs determinants of trade volume, which are seen to revolve around global marketplace. Study reveals that Product, Price, Place and Promotion are significant factors which affects on trade volume. To have a right product, right place at right time in front of target market at this competitive era. Extensive literature illustrate various theories and model of global trade thats highlight three critical factors affects on trade in which includes; tariff, inflation and transportation cost at this competitive era. This section based on theories infl uenced trade and economic growth of developing countries. The research model has been tested based on developed hypotheses in the next section of this research to investigate determinants of trade volume in the context of Asian developing economies. Research Hypotheses Based on empirical findings, this chapter comprises research hypotheses on the basis of trade theories and empirical evidence; factors affecting trade volume. Those theories empirically identified, tested and resulted to develop research hypotheses. The aim of this study is to understand the basic concepts of trade volume and its key dimensions, this study focused to investigate the role of foreign trade and its interactions with competitive era, which affects on global trade. Based on comprehensive studies in foreign trade and management literatures, dimensions of trade and management understand at this stage. Research Problem. The Problem area or issues regarding factors affecting trade volume based on Asian developing economies observed in this study. Some of the critical factors address in international business like tariff, inflation and transportation cost which negatively affects on trade; to limit the volume of trade at this competitive era. It is realized that inflation rate is critical factor affects on international market. Study also found transportation cost increase with respect to distance in between trading countries. Determinants of trade and their impact on international market evaluated on the basis of multiple criteria in this study. On the basis of empirical evidence research problem is being developed ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"Factors affecting trade volume of Asian developing economiesÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ . As economy growth depends on foreign trade due to modern technology and specialized expertise. Since foreign reserves have positive balance of trade with re st of the world. Research Hypotheses This study focused to identify factors affecting trade volume based on developing economies formulated by different scholars. It is recognized in literature review; management actions have potential affects on foreign trade, since foreign trade affects positively on economic growth for a particular country. Therefore after studying the model of trade, to measure trade with flourish economic growth for a sustainable period of time by its customer which can be achieved through effective management efforts. Finally study comprise the following hypotheses: H1: There is a relationship between Gross domestic product (G.D.P) and Trade volume. H2: There is a relationship between Foreign direct investment (F.D.I) and Trade volume. H3: There is a relationship between Exchange rate and Trade volume. H4: There is a relationship between Tariff and Trade volume. H5: There is a relationship between Inflation and Trade volume. H6: There is a relationship between Transportation cost and Trade volume. H7: There is a relationship between Import duty and Trade volume. H8: There is a relationship between Population and Trade volume. To answer the above propositions this thesis proceed in the following manner to determine real facts figure based on assessment of qualitative quantitative data. Summary In this chapter theoretical framework represents the relationship among determinants of trade in the context of Asian developing economies. Study found that critical factors affects on foreign trade includes: Tariff, Inflation and Transportation cost respectively by evaluating research hypotheses. Methodology This study empirically examine those factors affecting trade volume in the context of Asian developing economies. As chapter three comprises hypothetical structure with regards to Asian developing economies. This section justifies research objective to evaluate and proper methods that are followed. Research Objective Objective of this study is to empirically identify factors affecting trade volume and assess the impacts of trade barriers on Asian developing economies. It further attempts to investigate those factors affects on trade volume significantly. Research Design Research design based on research problem. The research problem therefore employed; to find factors affecting trade volume based on Asian developing economies. Since research design is the basic plan that guides about target population of the research to arrange sample size for data collection to analyze data in meaning full methods. The methods that were applied for this research was analytical research design. Nature Of Study Basically nature of this research is descriptive to justify those factors empirically identify, evaluated and tested based on develop hypotheses. Independent factors those have been identified in this research comprise (Tariff, Inflation, Transportation cost, Exchange rate, Import duty and F.D.I) on the other hand dependent variable (Trade volume). This research will help to analyze trade barriers and its affects on Asian developing economies. This information described with regards to empirical evidence. Data Source Basically this research comprises secondary data; collected from authentic source which includes: 1. World trade organizations (W.T.O) trade and tariff profiles. 2. The world fact book, from central intelligence authority (C.I.A). 3. Federal bureau of statistics. 4. International Monitory Fund (I.M.F). 5. United Nation Conference on trade and development (U.N.C.T.A.D) and their Annual reports respectively. An explanation based on collected data and the information used to justify this study. Reliability of this study based on filtered data comprised from authentic source which includes: W.T.O, I.M.F, C.I.A (Fact Book) and U.N.C.T.D. To collect filtered data based on specification of this research. Sampling Method Sample size based on target population which comprises developing economies. Therefore this thesis comprised fifteen observations based on five developing economies of Asian countries. Imply ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¹Ã…“Judgment sampling method due to certain characteristics of developing economies which includes (Pakistan, India, China, Bangladesh and Sri Lanka). These are true representatives of entire population of Asian developing economies. For validity purpose, filtered data comprised based on trade theories to find the answers of this research hypotheses. It was important to understand trade barriers of Asian developing economies at this competitive era, where lot of competition exists due to economic socio cultural differences. Summary Of Hypotheses Factors Affecting Trade Volume. H1: There is a relationship between Gross domestic product (G.D.P) and Trade volume. H2: There is a relationship between Foreign direct investment (F.D.I) and Trade volume. H3: There is a relationship between Population and Trade volume. H4: There is a relationship between Exchange rate and Trade volume. H5: There is a relationship between Tariff and Trade volume. H6: There is a relationship between Inflation and Trade volume. H7: There is a relationship between Transportation cost and Trade volume. H8: There is a relationship between Import duty and Trade volume. Statistical Technique The statistical tool used to evaluate and interpret data into meaningful information by using S.P.S.S version 13. Filter data from excel sheet was entered in S.P.S.S. Basically regression analysis; Multiple Regression used to test the degree, in which independent variables of foreign trade able to predict dependent variable of trade volume in the context of Asian developing economies. Main Effects (H1 through H8) Hypotheses testing concern factors affecting trade volume based on Asian developing economies by using ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"Multiple Regression Analysis.ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚  To assess the impact of independent variables: Tariff, Inflation, G.D.P, Transportation cost, Import duty, Exchange rate and F.D.I. on dependent variable of trade; Asian developing economies. Trade Volume = X1 + X2 + X3 Trade DeterminantsÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ + Error term. Result concern the main effects presented in Table 4.1 (H1 through H8) of Asian de veloping economies. Regression Interprtations Of Hypotheses H1: States there is a relationship between Transportation cost and Trade volume. The level of association between transportation cost and trade volume indicates R is .944 and R2 .883 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .883 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…Â ¸) is .944 at p0.05, it explains the 94% positive variation in Transportation comes from 94% positive variation in Trade volume significantly. Hence, H1 Accepted. H2: States there is a relationship between Gross domestic product (G.D.P) and Trade volume. The level of association between gross domestic product and trade volume indicates R is .973 and R2 .939 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .939 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…  ¸) is .491 at p0.05, it explains the 49% positive variation in G.D.P comes from 49% positive variation in Trade volume significantly. Hence, H2 Accepted. H3: States there is a relationship between Tariff and Trade volume. The level of association between tariff and trade volume indicates R is .984 and R2 .960 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .960 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…Â ¸) is -.179 at p0.05, it explains the 18% negative variation in Tariff comes from 18% negative variation in Trade volume significantly. Hence, H3 Accepted. H4: States there is a relationship between Exchange rate and Trade volume. The level of association between exchange rate and trade volume indicates R is .990 and R2 .972 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .972 shows significant description. The coeffi cient of regression (ÃÆ'Æ’Ã…Â ¸) is -.219 at p0.05, it explains the 22% negative variation in exchange rate comes from 22% negative variation in Trade volume significantly. Hence, H4 Accepted. H5: States there is a relationship between Population and Trade volume. The level of association between population and trade volume indicates R is .998 and R2 .994 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .994 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…Â ¸) is -.467 at p0.05, it explains the 47% negative variation in Population comes from 47% Population variation in Trade volume significantly. Hence, H5 Accepted. H6: States there is a relationship between foreign direct investment (F.D.I) and Trade volume. The level of association between foreign direct investment and trade volume indicates R is .965 and R2 .926 at p0.05, which represent substantial correlation between depen dent and independent variables. The R2 = .926 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…Â ¸) is .965 at p0.05, it explains the 96% positive variation in foreign direct investment (F.D.I) comes from 96% positive variation in Trade volume significantly. Hence, H6 Accepted. H7: States there is a relationship between Import duty and Trade volume. The level of association between import duty and trade volume indicates R is .989 and R2 .974 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .974 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…Â ¸) is .263 at p0.05, it explains the 26% positive variation in Import duty comes from 26% positive variation in Trade volume significantly. Hence, H7 Accepted. H8: States there is a relationship between Inflation and Trade volume. The level of association between inflation and trade volume indicates R is .993 and R2 .982 at p0.05, which represent substantial correlation between dependent and independent variables. The R2 = .982 shows significant description. The coefficient of regression (ÃÆ'Æ’Ã…Â ¸) is .148 at p0.05, it explains the 15% positive variation in Inflation comes from 15% positive variation in Trade volume significantly. Hence, H8 Accepted. Limitations Following are the limitations faced during the structure of this research. This research generalized specifically on Asian developing economies which can not be generalized on other economies. Specific data comprised only authentic sources due to limited time and information availability. Further in research, critical factors have been observed, the most affects include (Tariff, Inflation and Transportation Cost) are significant barriers on trade of Asian developing economies. Summary In this chapter research methodology describe in the light of factors affecting trade volume. This was a descriptive study; which incorporates data from authentic sources based on comprehensive literature review. Regarding analytical technique, the model was tested by using; Multiple Regression Analysis to assess determinants of trade volume in the context of Asian developing economies on the basis of extensive literature review. Conclusion And Recomendation The final chapter discus empirical evidence and research findings presented in preceding chapters. Based on develop hypotheses to identify trade issues and implication for the practicing manager in the context of Asian developing economies. In this study key dimensions of foreign trade includes tariff, inflation, transportation cost and exchange rate are significant factors which affects on trade. This Study further incorporates other key elements to elaborate determinants of trade such as Import duty, F.D.I and G.D.P respectively. Study found that G.D.P of exporting country is a powerful explanatory variable in the relative intensity of trade relation (Feenstra, Markusen and Rose, 2001). Result Discussion On the basis of Table 4.1 where result of hypotheses shown accordingly. Result on that table represents factors affecting trade volume based on Asian developing economies and their significance level. The aim was to identify determinants of trade and their affects in the context of Asian developing economies. Result of the analysis identify significant association among these variables (Tariff, Inflation, Transportation cost, Exchange rate, F.D.I and G.D.P) are statistically significant in relation to trade volume of these economies like (Pakistan, India, China, Bangladesh and Sri Lanka). For this one determinant of trade represents significant relationship among these variables. Based on comprehensive literature and theoretical framework of this research, result indicates that (Tariff, Inflation and Transportation Cost) are statistically significant factors which critically affects on trade of Asian developing economies. Implications The major implications of this research are two fold. Academically it advance theory of International trade: Factors affecting trade volume based on Asian developing economies. Practically it focuses the attention of regional managers to continuously grow their business in other countries to lead in a global market and retain their market share based on sustainable competitive advantage. Another implication for managers and entrepreneurs is to implement supply chain management effectively to manage their backward and forward integration based on sustainable competitive advantage to build their strength in distribution network to minimize logistic and transportation cost. Scope Of Future Research On the basis of limitation there are numerous opportunities for future research. Since generalize propositions can not explain the phenomena alone; due to integrated approach need to implement to gain sustainable competitive advantage. These are the few potential opportunities for future research. First an integrated method need to adopt; to understand the essence of trade barriers caused by (Tariff, Inflation and Transportation cost) in relevance to multilateral trade construct. Using this approach provide better understanding of how trade barriers reveal with other factors of trade volume and affects on transitional, developing and developed economies. Second, the extent literature includes other dimensions relevant to both trade barriers and additional economies to identify relationship among determinants of trade with regards to developed and transitional economies. Conclusion Aim of this study was to investigate the factors affecting trade volume based on Asian developing economies. A theoretical framework was developed to represent the link between trade barriers of developing economies; Based on gravity equation frame work to examine trade flow of developing economies. Given the lack of research based on trade strategies, in the context of Asian developing economies. Dimensions of trade barriers were first theoretically delineated then empirically validated. The dimension includes: Tariff, Inflation, Gross domestic product and foreign direct investment were top of the mind. Filtered data were collected from authentic sources. The key information was used to collect data from W.T.O, I.M.F, U.N.C.T.D, C.I.A (World fact Book). The main statistical technique used in descriptive research based on Multiple Regression Analysis. In the area of trade, this study attempt to explain determinants of trade in the context of developing economies. It also repr esents empirical and theoretical steps toward an explanation of trade barriers based on gravity equation framework. Such effort not only directed towards assimilating trade barriers of developing economies. But also toward generalizing the relevant studies mainly conducted from management perspective. Therefore such type of research necessary due to lack of study with this regards in the context of Asian developing economies. Due to such type of efforts acknowledge academically and practically in the future. Refernce Andrzej Cieslik, 2007. Bilateral trade volumes, the gravity equation and factor proportions Macroeconomics and International Trade Theory Division, Department of Economics, Warsaw University, Ul. Dluga 44-50. Anis Chowdhury and Hermanto Siregar, 2004. Indonesias Monetary Policy Dilemma: Constraints of Inflation Targeting. The Journal of Developing Areas, Vol. 37, No. 2, pp. 137-153. Published by: College of Business, Tennessee State University. Chaisrisawatsuk, S. and W. Chaisrisawatsuk, 2007. Imports, exports and foreign direct investment interactions and their effects, pp.97-115. A study by the Asia Pacific Research on Trade, (United Nations, New York). Gertrud Lovasy, Mar, 1962. Inflation and Exports in Primary Producing Countries International Monetary Fund, Vol. 9, No. 1. pp. 37-69. Published by: Palgrave Macmillan Journals. Huiwen Lai and Susan Chun Zhu, May, 2004. The Determinants of Bilateral Trade. The Canadian Journal of Economics Revue. Vol. 37, No. 2. pp. 459-483. James E. Anderson and Eric van Wincoop, Mar, 2003. Gravity with Gravitas: A Solution to the Border Puzzle The American Economic Review, Vol. 93, pp. 170-192. Published by: American Economic Association. Mohammad Mafizur Rahman, September, 2003. The Gravity Model Approach. Discipline of Economics. University of Sydney, Australia. Natalia T. Tamirisa, Mar, 1999. Exchange and Capital Controls as Barriers to Trade International Monetary Fund (I.M.F) Papers, Vol. 46, No.1 pp. 69-88. Published by: Palgrave Macmillan Journal. Nuno LimÃÆ'ƒÂ £o and Anthony J. Venables, 2001. Infrastructure, Geographical Disadvantage, Transport Costs, and Trade. The World Bank Economic Review, Vol. 15, No. 3 (2001), pp. 451-479. Published by: Oxford University Press. Robert C. Feenstra, James A. Markusen and Andrew K. Rose*August 3, 1999. The Gravity Equation Framework of Trade. Andrew K. Rose Haas School of Business University of California. Wen Li Cheng, Meng-chun L iu, and Xiaokai Yang, 1999, A Ricardian Model with Endogenous Comparative Advantage and Endogenous Trade Policy Regimes. Center for International Development at Harvard University.

Using The Method Ipa Is It Favors Open Ended Questions...

Qualitative In the examination of a topic as personal as changes in meaningful occupation, using the method IPA is going to enhance the researchers ability to complete an in-depth analysis in order to understand the individual’s experiences. An advantage of IPA is it favors open-ended questions with the view of gaining detailed descriptions about individuals lived experiences. It is frequently used in research concerned with identity and the individual’s sense of self as it favors in-depth analysis into important life experiences (Scotland, 2012; Smith Eatough, 2012). Under this approach the researcher needs to be aware of there own pre-understanding of the topic and how this personal understanding may influences the issues being researched (Borell, Nygard, Asaba, Gustavsson Hemmingsson, 2012). IPA studies use a small sample size, to ensure each individual’s experiences are analyzed in detail. The researcher needs to decide if they are going to give detailed analysis on one or two individual’s experiences or take a view of a larger group. Taking on a larger sample size runs the risk of becoming a superficial qualitative analysis due to the overwhelming amount of data (Smith Eatough, 2012). IPA is best suited to a flexible method of data collection such as semi-structured interviews. These interviews are participate led with guidance from the researcher using open-ended questions, which will produce meaningful and in-depth accounts of the topics being explored.Show MoreRelatedBranding in Clothing Industry22425 Words   |  90 PagesSummary 20 23 Chapter 3: Methodology 3.1 Introduction 3.2 Theoretical backgrounds 3.2.1 Review of different research traditions 3.2.2 Quantitative versus qualitative analysis 3.2.3 Reliability and validity of data 3.3 Justification of research method 3.4 Sampling 3.5 Interview schedule 3.5.1 Stage one 3.5.2 Stage two 3.5.3 Stage three 3.6 Administration 3.7 Analysis strategy 3.7.1 Grounded theory and its relationship to qualitative data analysis 3.7.2 Within-case and cross-case analysis 3.7.2Read MoreInternational Management67196 Words   |  269 Pagesinternational management reflect this dynamism and the increasing unpredictability of global economic and political events. Continued growth of the emerging markets is reshaping the global balance of economic power. Many emerging markets continued to experience growth during a period in which developed countries saw their economies stagnate or decline. The global political environment remains volatile and uncertain, with ongoing conflicts in the Mi ddle East and Africa and continuing tensions in Iran, North

A Analysis of Essay Volar free essay sample

Yuliya Slipets A Analysis of Essay â€Å"Volar† In â€Å"Volar† Judith Cofer, she portrays the problems faced by many immigrant families, such as problems with fitting in, homesickness and starting life from the beginning in America. The author shows the daughter’s, the mother’s, and the father’s secret desire through their dream. The daughter’s obsession with superheroes is her desire to fit in to the culture where she lives. The author shows that the twelve years old girl with tight curls and skinny arm and legs is not happy with way she looks. She feels different from people surrounding her. She dreams that as she turns into super girl her† legs would grow long† (69) her â€Å"arms harden into steel†(69) and her† hair would magically go straight and turn a golden hair† (69). Escaping into her dreams, the little girl is trying to avoid a reality of not fitting in her new world. We will write a custom essay sample on A Analysis of Essay Volar or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page She feels â€Å"incongruous†( 69) waking up in her body. The mother is homesick for her country. She wants to go back to her country and see her â€Å"familia on the Island† (70). She understands that it is financially impossible for her to go back and it hurts her. She looks out from her kitchen window and has a view of the sky. She wishes to fly to her family and says â€Å"Ay,si yo pudeiera volar†- all she could do is wish she could fly. Although, the author has not clearly defined of the Father’s dream in this essay. It seems that father wants a new, better and financially stable life for his family. He is the person in the family who lives realistically and practically. He seems more worried about their new life than his wife. He is more interested in the discussion about their current life â€Å"†¦they would be discussing events in the barrio. Actually, he would be carrying that part of the conversation†. In this story, the family is like many immigrant families is dealing with their problems , escaping to their dreams to find a relief from the pain.