Nowadays in developing countries, ecotourism is us Essays

Nowadays in developing countries, ecotourism is used as an excellent tool for promoting sustainable development. It is very beneficial for local communities creating environmental, economic and social benefits. Ecotourism is carried out by many tourism planners and marketers nowadays. The important aspect involved in ecotourism is its proper planning and implementation. In the case of improper planning it converts all the economic gains into social and environmental disasters. Ecotourism has gained popularity developed into a worldwide phenomenon showing no signs of slowing down. Even though it is not a universal remedy for attaining sustainable development, its potential towards promoting sustainable development deserves considerable attention. The purpose of this paper is to analyze the impact of ecotourism in attaining sustainable development in Costa Rica. Ecotourism The concept of ecotourism was well identified in 1960's by Hetzer who contributed to this by identifying four principles of ecotourism. They are minimizing environmental impacts, respecting host cultures, maximizing benefits to local communities & maximizing tourist satisfaction. Ecotourism is an integration of social, environmental and economical benefits meeting both human and environmental needs. One of the major causes for the evolution of ecotourism is the dissatisfaction with mass tourism creating over development, pollution and foreign investment. According to International Ecotourism Society (2004) Ecotourism is a "Responsible travel to natural areas that conserves the environment and sustains the well-being of local people". Sustainable Development The term sustainable development received international recognition in 1980's. In 1987, Bruntland commission defined sustainable development as "Development that meets the needs of the present without compromising the ability of the future generations to meet their own needs". It is a combination of social, economical and environmental development. Ecotourism & Sustainable Development It is nothing but sustainable tourism. In 1995 World Trade Organization stated in Agenda 21 that "Sustainable tourism development meets the needs of present tourists and host regions while protecting and enhancing opportunity for the future". Sustainable tourism involves a number of principles in it. Sustainable development is not the only goal of ecotourism, but sustainable development is very important for achieving the goal of ecotourism. About Costa Rica Costa Rica which means "Rich Cost" is a country in South America bordered by Nicaragua in north, Panamma in south, Caribbean Sea in east and Pacific Ocean in west. The government is constitutionally democratic. It constitutionally abolished its army permanently in 1949 becoming military neutral. It was ranked first among the Americas for Environmental Performance Index in 2010. Total area - 19,653 sq.m Water percentage - 0.7 Population - 4,253,897 GDP (nominal) - $29.318 billion It contains 5% of the world's biodiversity. Around 25% of the country's land area is covered by protected national parks and protected areas. About 24 national parks are found in Costa Rica. The Monteverde cloud forest reserve is a home for about 2000 plant species, over 400 birds, over 100 species of mammals and numerous orchids. Growth of ecotourism in Costa Rica Costa Rica earned reputation as a premier ecotourism destination in the world also considered as ecotourism's post child. Some of the factors that influenced ecotourism in Costa Rica are pleasant climate, excellent national park, best public health care system, best public education, highest literacy rate in Latin America etc. It is also blessed with abundant natural resources such as beaches, mangroves, mountains, caves, waterfalls, volcanoes and tropical rainforests which is one of the most biologically diverse areas of the world containing 5% of entire planets biodiversity. In a short period Costa Rica has reached high level of maturity in ecotourism creating both beneficial effects and detrimental consequences on sustainable development. It is considered as a model in implementing ecotourism in many other areas. Economic impacts Globalization plays an important role in global economic decision making. As globalization and unbridled economic competition continue to dominate the global agenda, the travel agents who came up with the idea of ecotourism were now looking for new markets and not the ways to save the world. Because of this issue, many protected regions of Costa Rica are increasingly integrated into the global economy. Park entry fees and other form of revenues increase the value of protected land rather than the revenue obtained from deforestation. Ecotourism also earns foreign exchange to developing countries by bringing tourists from north ( from developed countries). A survey states that in early

Who are the winners and losers in the arms trade Essays

Who are the winners and losers in the arms trade Essays Who are the winners and losers in the arms trade Essay Who are the winners and losers in the arms trade Essay The prolific and largely unregulated transfers of arms, particularly small arms and light weapons, has resulted in tremendous human suffering. Tens of millions of people have been killed in wars since 1945. By the end of the 1990s, a large percentage of war-victims were non-combatants and at least half of these were children. The arms trade fuels these wars, wasting life, natural resources and vast sums of money. Despite this, world military expenditure has increased sharply over the last decade; US, Japan, UK, France and China are the top 5 spenders, which equals 62% of world military spending. In particular, several countries like UK and US use military exports as a tool of foreign policy. In this essay, I will examine the profit and cost brought by the arms trade, and try to justify whether there are winners or losers in the arms trade. First of all, let us look at why there are several countries continuing to support the export of military equipment. Let us take Britain, which continues to rank as one of the worlds largest arms exporter (WMEAT, P. 470) as an example. The British government claims, support for military exports helps employment, bring budgetary savings, benefit the balance of trade and deliver other wider economic benefits. ( deso. mod. uk/policy. htm) Since 1995, three reports have begun to estimate the overall net costs to government of engaging in this kind of activity. Estimates vary mainly because of different approaches to research and development spending but they all show that exports benefit from considerable subsidies- between 228 million pounds up to a possible 990 million pounds per annum. WDM, 1995) It is obviously to see that with larger export of the military equipment, there is always a great profit coming with. Furthermore, the British government claims that defence exports help support a strong UK defence industry and contribute to the security of our friends and allies overseas; defence exports can also contribute to international stability by strengthening bilateral and collective defence relationships. ( deso. mod. uk/policy. tm) In addition, the British government believes that a strong defence industrial base is important for the United Kingdoms defence. It enables us to manufacture the equipment to meet our armed forces requirements, including the development of future systems and the regeneration of capability at times of crisis. The skills of our defence industry workers are themselves a valuable defence resource. For an average in each year of 86,000 jobs in the UK are working in defence industry. Without a large export trade, the whole size of the industry will have a dramatic decrease. deso. mod. uk/policy. htm) all above seems to be a very strong evidence of supporting arms trade despite some of the factors might be still debatable. The situation in Britain can roughly reflects the benefit brought by the arms trade in other countries. If all the policy based on the benefits to their own Defence and international security, arms trade can play a powerful role in deterring aggression and promoting stability, it would not be difficult to see the advantages of arms trade. In some extend, we have faced the fact that a number of major initiatives were approved making a significant contribution to the fight against terrorism. These included tightening controls over Man Portable Air Defence Systems (MANPADS) and agreeing to enhance transparency of transfer of small arms and light weapons (SALW). But does all above mean that the countries which exports military equipment are the winners of arms trade, the answer is: it does not tell the whole picture. The United Kingdom enforces very strict control of defence equipment exports. Export licences are not approved if to do so would fail to comply with UKs international obligations or if there is a clear risk that the proposed export might be used for internal repression or international aggression, or may affect regional stability in any significant way. ( deso. mod. uk/policy. htm) However, there always is hidden potential for arms exports, which is also called the invertible hand by some press. Because there is high value of profit, it is not difficult for people to guess there are people selling arms by illegal methods such as trading arms in a black market, otherwise there would be less properly armed terrorists. It can be a direct impediment to the achievement of peace and international security. Now, let us look at one of the biggest arms exporter France as an example. All wars have winners and losers. The war in Iraq is no exception. France is a big loser. France lost billions to Saddam Hussein by selling the Iraqi dictator arms on credit. France lost billions in oil contracts and business deals when the Iraqi dictator fell. France also lost a major alliance with the United States by putting up such a sham over Iraq. The lost alliance between Paris and Washington will cost France. (WWW. newsmax. com) The evidence shows that there are still some arms being exported to destinations where they are likely to be used to commit grave violations of international human rights and humanitarian law, owning to the fact that there is always uncertainty such as misusing of the arms imported. In practice, however, successive governments have failed to close the loopholes in arms export laws and have even failed to abide by their own guidelines. The decision-making process is weighted heavily in favour of the arms dealers and, time and time again, concerns of human rights are overridden in the interest of exports. A recent example of this was in late 2001 when BAE Systems were granted a licence to sell a i 28million military air traffic control system to the Tanzanian government despite the fact that: Tanzania has a sum total of eight military aircraft and such a system could only provide limited support for civilian air traffic control. A civilian ATC system costing a quarter of the price would have met the countrys needs. The cost of the system will add to Tanzanias debt burden and do nothing to address poverty in the country. Adding to the debt burden seems especially short-sighted given that some sections of the UK government are trying to cancel debt. The UKs export licensing criteria state that account must be taken of the compatibility of arms exports with the technical and economic capacity of the recipient country, with this information gathered from the IMF and World Bank. In this case the World Bank criticised the proposed export for the first two reasons above. (CAAT, 2002) The UK government continues to allow the export of military equipment to many countries with records of sustained human rights abuses, including Turkey, Saudi Arabia, Israel, Indonesia and China. Indonesias military, for example, has an appalling human rights record and continues to wield considerable power. (CAAT, 2001) The UK government argues that it has received assurances from the Indonesian army that equipment will not be used for internal repression. It chooses to believe this despite the militarys record and evidence of previous use of that, or similar, equipment. In addition, the export of arms can also make a very bad effort fuelling conflict. Many of the UKs arms customers are situated in areas of actual or potential conflict. The 2001 Annual Report 1 lists exports to Sri Lanka, Indonesia, Angola, Algeria and Colombia. Where more than one country is involved, the UK is commonly willing to sell to both, or all, sides. The above report lists exports to India and Pakistan, China and Taiwan, Turkey and Greece, Israel and many of its Middle East neighbours, and Uganda, Angola and Zimbabwe during their involvement in the Democratic Republic of Congo conflict. Countries with massive development needs, such as India and South Africa, are among the UKs most lucrative customers for military equipment. The governments support for arms sales encourages such countries to waste money that could be spent to meet peoples basic health and education needs. (CAAT, 2002) Any of this military equipment imported for these countries will be a risk, If any of these arms is used in the war or even local conflict, it would be doubtlessly for us to see how disastrous it can be for their people. In general, I could say that thousands of lives are suffering from these trade arms. All above shows that, the exporters of arms like France are not the final winners and many countries, which imports lots of arms are suffering. Most of the people believe that arms exports are a useful tool in foreign policy and giving us some control over other nations. Honestly, they could be in some cases, but in practice they arent. For example, the government happily granted export licences for the supply of spare parts for Hawk fighter jets to the Zimbabwe government for use in the terrible conflict over the Democratic Republic of Congo. This was in spite of opposition from human rights campaigners and some members of the cabinet, who suggested that the government might like to refuse the licences and thereby show their displeasure that Zimbabwes actions. (Brittan, 2001,p2) The tool has lost its power simply because you cannot have total control on other nations. On the other hand, people argue that if we do not sell these arms, someone else will. I have to confess the fact is true. This will need lots of co-operations and trust between nations. In conclusion, I would like to say there are no absolute winners and losers in the arms trade. In the past, the main victims of war have been soldiers and other armed combatants. However, nowadays, as the opening quote states, the majority of causalities in modern wars are innocent civilians. Anyone who is involved in arms trade, will have a risk of being accused of any tragedy happened. In general, lots of the arms deals are being processed, and all we hope to see is, more and more countries are working together, having more control on arms trade, and create a better environment for the world itself.

Argue that hunting among the Bushman is not merely a physical act, but Essay - 1

Argue that hunting among the Bushman is not merely a physical act, but one that touches, often deeply, every domain of Bushman society and thus promotes social solidarity - Essay Example This paper argues that, in terms of Durkheim’s theory of solidarity, the Bushmen utilize hunting not just for obtaining food, but also for deeper domains of their life, specifically marital, religious, and economic customs and rites. Hunting in the Bushmen society influences social status, determines the rituals of religious traditions, and forms duty within extended family units, uniting the people in what Emile Durkheim refers to as ‘social solidarity’. As stated by Peter Kropotkin (Hann 1993, 27): But still we know that when the Europeans came, the Bushmen lived in small tribes (or clans), sometimes federated together; that they used to hunt in common, and divided the spoil without quarrelling; that they never abandoned their wounded, and displayed strong affection to their comrades. Emile Durkheim claims that traditional societies are bonded together by a type of social cohesion that is rooted in the commonalities of the members, or referred to as ‘mechanical solidarity’ (Komter 2004). The common values within these traditional societies, which are mostly religious in character, create a ‘collective consciousness’ for the society, a group of ideas, beliefs, and norms common to everybody (Komter 2004). There is modest individuality because individuals view themselves mainly in connection with their membership in the group. Hunting is still deeply embedded in the culture of Bushmen, even in instances where bands take care of their own cattle and grow their own food. The Bushmen are essentially hunters on the peripheries of the bigger non-Bushman culture. Bushmen are hunters in numerous ways. Gift-giving and kin relations include social ‘hunting’, for family connections and for bonds of exchange. Their spiritual or religious principle is distinguished as ‘hunting’ for knowledge (Hann 1993). It is factual that personal ties and hunting in Bushmen culture are

Weather Systems 2014 Essay Example | Topics and Well Written Essays - 1000 words

Weather Systems 2014 - Essay Example Some rainfall that fall was intermitted slight while other was intermitted heavy. The intermitted slight rainfall was attributed to less okta clouds that were slightly heavier. On the contrary, the continuous heavy rainfall along the Northern parts of England was attributed to heavier Okta clouds that which were formed via accumulation of substantial amount of water vapour. Okta clouds were experienced in the North Eastern parts of British Isle. This was followed by a heavy rainfall in Stomoway region and areas surrounding this region. Heavy clouds extended towards the Northern parts of Wick and Glasgow region leading to continuous moderate amount of rainfall (Jewell, 2011). In addition, heavy clouds continued to be experienced in other Northern parts of England such as Lorwick region as indicated in the synoptic table. Okta clouds were later followed by intermitted slight amount of rainfall. Moreover, Aberdeen and North Eastern parts of England such Tiree experienced okta clouds fol lowed by intermittent heavy rainfall. In addition, some parts of Scotland experienced can be observed that okta clouds, intermitted rainfall and moderate heavy rainfall (Sene, 2013). The coast Eastern parts of England such as Whitby and Spum Head experienced incidence of foggy conditions. The occurrence of fog may consist of condensed droplets of water which occur as a result of air being cooled up to appoint where it cannot be able to hold water vapour. The fog in the Eastern parts of England tend to be caused by a number of factors which include but not limed to immense cooling of the air on the ground, movement of air from regions with high warmth concentration to regions with extreme coldness. In addition, the presence of rain along the Eastern parts of England could be attributed the substantial amounts of fog in Whitby and Spum Head regions. This is because

Radical Islam Essay Example | Topics and Well Written Essays - 2750 words

Radical Islam - Essay Example This justification has severe repercussions one of which is that it implicitly states that all Muslims are required to waed the war if they are to live as true Muslims. This paper aims to discuss the role of Jihad as an instrument used by terrorist organiations in their plan of action. The focus will be on the discussion how Jihad serves as a recruitment tool of the organiations. The discussion involves that of establishing the nature of Islam as a religion, its provisions for physical struggle, the consequences of such orienations and its use as a recruitment tool of terrorist organizations. Thru the determination of relevant Quranic verses, this paper aims to provide the background and foundation of the terrorist's interpretationof the Jihad. Jihad is an Islamic term that means "to exert utmost effort, to strive or to struggle". This definition may mean anything from an inward spiritual struggle to attain perfect faith to a political or military struggle. The term Jihad is often taken into context as to describe purely physical and military struggle. The military struggles usually come in the form of religious wars. Although this maybe the case, there are actually five different forms of jihad. They are as follows: Jihad by the pen and knowledge (jihad bil qalam/ilm) is a struggle fo... pen and knowledge (jihad bil qalam/ilm) is a struggle for good against evil through an academic study of Islam, ijtihad (legal reasoning) and even through sciences (such as medical sciences). Jihad by the hand (jihad bil yad) refers to a struggle of good against evil waged by actions using one's wealth or actions that is virtous such as providing funding for jihad, advocacy campaigns for furthering the cause of Islam, undergoing the Hajj pilgrimage, taking care of the family and may even include espionage. Jihad by the sword (jihad bis saif) refers to the holy war or armed fighting in the way of God. Of all the forms of jihad, the form which pervades the social scene is the Jihad by the sword. A person who engages in jihad, whatever forms may be, are called a mujahid which means struggler. With this definition, a Muslim person engaging in fighting in a military struggle as well as those who are memorizing the Quran can be considered as a mujahid. The variety of forms of Islam gave rise to the need to classify which of them are more appropriate in terms of value creation and importance. Because of this, the five forms of jihad was classified either as al-jihd al-akbar (the greater jihad) or al-jihd al-asghar (the lesser jihad) , the struggle against one's soul (nafs), , the external, physical effort, often implying fighting. From this classification, it can be seen that the first threeare implied as the greater jihad with the remaining as the lesser jihad. The Aspirations of Islam and Jihad In this paper the word "Islam" has three meanings that have been taken in the context of which it operates. First, using the Western view of Islam, this term is primarily used to denote a religious tradition, much like Christianity, that provides fundamental

Why the theories of supply and supply elasticity are important

Why the theories of supply and supply elasticity are important EXPLAIN USING RELEVANT TOURISM, LEISURE AND HOSPITALITY EXAMPLES WHY THE THEORIES OF: -SUPPLY -THE THEORY OF SUPPLY ELASTICITY ARE KEY CONCEPTS IN HELPING US UNDERSTAND AND EXPLAIN WITH OUR INDUSTRY ? This preface provides a comprehensive introduction to the task given for the individual learning outcomes. The Assignment needs to stretch on the Key concepts in understanding the theory of Supply and Supply Elasticity in relevant to Travel, Tourism and Hospitality Industry (Hotel Industry) . The given assignment encompasses the following, PART 01 The factors which could determine the Demand and Supply of Hotel supplies in United Kingdom. It will cover the Key concepts Elasticity of supply in relevant to Hotel Supplies supplied in United Kingdom Hotel Supplies will include the following- Room Amenities- Bath Accessories, City Information Brochures and Stationeries Imported Food Materials New Zealand lamb Chops, Spices , Seasonal P er I Perishable foods Imported Spirits Expensive wines, Rare Collection Cognac, liqueurs and S Single malt. Maintenance Supplies PART 02 The reasons that firms seek to expand their businesses via internationalisation. Illustrating with Hotel industry of how firms that you have researched have pursued the globalisation objective. All these topics are gradually explained as we go and the key terms are highlighted in the task. The underlying concepts and basic principles are used to design the text. Introduction The hospitality industry is major service sector in the world economy. The industry encompasses an extensive variety of service industries that include food service, tourism and hotels. The hospitality industry is a 3.5 trillion Pound service sector within the global economy. London has been named the 2012 for International Games.There are a multitude of benefits for London hosting the Olympics, biggest of them is Hotel revenue in terms of Revenue, which means Demand for Hotels are already forecasted. The demand for the hotels in any market is determined basically by the amount of travellers inflow in that place. This study may examine the relationship between the Supply and the factors affecting the hospitality sector using some of the theories adapted from Mr. Don Burton notes. Reference: http://www.referenceforbusiness.com SUPPLY CONNOTE The term Supply states the total amount of the product that producers are willing and able to provide at a particular price over a given period of time. Here willingness is the keyword and this is determined using various analytical factors in ones mind. The hotel business faces the complexity in the commission of managing the chronological demand for its products put on show for the rest of the world. Also the supply of rooms has outpaced the demand over the last decade. Especially in the United Kingdom, since it is the worlds first industrialised country and stands sixth in the world economy with the power of purchasing parity has to follow some theories in order to sustain healthy in their competitive environment And as per the fact in 2012 the hotels in UK needs to offer 1 million rooms, the demand in the near future is high. The hotels have two basic means of achieving sustainable competitive advantage within their product market by focussing on low price and to meet the demand the Customers. Reference: http://ezinearticles.com/?cat=Business:International-Business SUPPOSITION OF SUPPLY The regulations of supply declares that, The Law of Supply claims that when other things are equal, the quantity supplied of a good rises when the price of the good rises IMPINGE ON SUPPLY Supply agenda shows the Law of Supply states that as the price of a good rises, the quantity supplied of the good rises, and as the price of a good falls, the quantity supplied of the good falls, ceteris paribus. Simply put, the price of hotel supplies increases the supply to the hotel also increases, when price of Hotel Supplies falls then the supply to the Hotel is also reduced. This is done because the Supplier has invested his opportunity cost in other sources. The Graph illustrates when demand for Hotel room is high the quantity supplied of Hotel Supplies are also high when compared to 2010. Source: http://www.hotelnewsnow.com/Articles.aspx FACTORS AFFECTING SUPPLY There are various factors that may affect the Supply of the hotels either undeviating or deviating. These are some notable direct factors such prices of relevant resources, technology, prices of other goods, number of sellers, expectations of future price, taxes and subsidies, and government restrictions.. This is bulleted below in detail, Prices of relevant resources Technology Prices of other goods Number of sellers Expectations of future price Taxes and subsidies Government restrictions Source Roger. A Arnold, Economics, 4th Edition, Page No.72 FACTORS WHICH CAUSES CHANGE IN SUPPLY PRICES OF RELEVANT RESOURCES Resources are needed to produce goods. For example, Source is Steak when the price of Steak gone down, then the hotel will purchase and stock more of steak to sell more steaks in hotels which increases the supply of Steak. In that case Supply Curve will move towards rightward. If there is no resource, that is less steak available thus creating less supply of rooms. Consequently, the preparation of steak will decrease, and the supply curve will shift leftward. TECHNOLOGY Most of the western countries have their usage of advanced technology to serve the hotel companies better. The development and in place highly integrated business processes technologies and system are definite. The hotels states the objective in promoting the hotel interface technologies such as property management system, point of sales system, video on demand security and access control which improves Hotel supplies efficiently and effectively. Therefore, the supply curve will shift to the right. PRICES OF OTHER GOODS When change in the price of one good can lead to a change in the supply of another good For example the Lobster price increases dues to worst climatic conditions making lobster unavailable in market then supply of Fish Increases. Lobster Fish Price Case- 1 Case -2 Quantity NUMBER OF SELLERS If more sellers begin producing a particular good, perhaps because of high profits, the supply curve will shift rightward. If some sellers stop producing a particular good, perhaps because of losses, the supply curve will shift leftward. EXPECTATIONS OF FUTURE PRICE If the price of a good is expected to be higher in the future, then producers may hold back some of the Hotel essential supplies today. Then they will have more to sell at the higher future price.. TAXES AND SUBSIDIES Some taxes increase per-unit costs. Suppose tax on Liqour is increased and producer is suppose to pay 2 pounds per Bottle. This tax leads to a leftward shift in the supply curve, indicating that the manufacturer wants to produce and offer to sell few of Liqour at each price. If the tax is eliminated, the supply curve shifts rightward. Subsidies have the opposite effect. Suppose the government subsidizes the production of Rice by paying wheat farmers 3 pounds for every bushel of wheat they produce. Because of the subsidy, the quantity supplied of rice is greater at each price, and the supply curve of Rice shifts rightward. Removal of the subsidy shifts the supply curve of corn leftward. Government Restrictions The government restrictions affects import of hotel supplies for international market, For example stricter Import duties implies adverse affect on hotel essentials thus giving less Output, the supply to the guest will be restricted with available foods. In this case the Supply curve moves towards left. Reference: Roger A Arnold, Economics, 2008 edition, P.No-71 PART B Price elasticity of supply When price changes, there will be not only a change in the quantity demanded, but also a change in the quantity supplied. Frequently we will want to know just how responsive quantity supplied is to a change in price. The measure we use is the price elasticity of supply.( PeS ) In simple terms the responsiveness of quantity supplied to a change in price. is called Price Elasticity of Supply. When it relates to hotel industry the responsiveness of Hotel supplier to a change in price of the product. The supply to hotel supplies in market will depends on change in price of hotel supplies in market or price offered by the Competitors. supplies Hotel Quantity Demanded The figure shows two supply curves. Curve S 2 is more elastic between any two prices than curve S 1. Thus, when price of Hotel Supplies rises from P 1 to P 2 there is a larger increase in quantity supplied of Hotel Supplies with S 2 (namely, Q 1 to Q 3 ) than there is with S 1 (namely, Q 1 to Q 2 ). For any shift in the demand curve there will be a larger change in quantity supplied of Hotel Supplies and a smaller change in price of Hotel Supplies with curve S 2 than with curve S 1. Thus the effect on price and quantity of a shift in the demand curve will depend on the price elasticity of supply. Reference : Roger. A Arnold, Economics, 2008 Edition, Page No.57 Source : http://economics.about.com INTERPRETATION OF SUPPLY CURVE Source : A. M. Shella , Economies of Hotel management , 2002 edition, P- No.91 KEY CONCEPTS IN DETERMINING THE PES WITH HOTEL SUPPLIES ARE FACTORS AFFECTING PES Spare production capacity When there is plenty of spare capacity  then the business will increase its output and therefore the Hotel Supplies supply will Elastic in response to Demand. Stocks of finished products and components If the stocks are products are high in the market supply will be elastic. Conversely when Hotel Supplies stocks are low, supply will be inelastic in response to a change in demand. The ease and cost of factor substitution If both capital and labour resources are  occupationally mobile  then the elasticity of supply for a Hotel Supplies is higher than if capital and labour cannot easily and quickly be switched 4) Time period involved in the production process Supply is more price elastic the longer the  time period  that a firm is allowed to adjust its production levels. The  momentary supply  is fixed and is determined mainly by planting decisions made months before, and also climatic conditions, which affect the overall production yield. Source: http://www.amosweb.com FACTORS DETERMINING PES Two factors that affect the numerical value of the price elasticity of supply are The Amount that costs rises as output Rises and time period of analysis. 1) The Amount that costs rises as output Rises When the Additional cost for producing additional output, this encourages more firms to produce for a given price which is raised, then more elastic will be supply. The lees the conditions apply, the less Elastic will supply be. 2) Analysis of Time Period when time period is longer then the time for analysis is more, responsiveness to the price change. Longer times enables the supplier to find alternatives. Time period are of two Long Run and Short Run. For example, the supply of the Ethnic Restaurants is not very elastic for a period, because Raw material used in production cannot easily switch to other goods. However, given enough time, a year or more, resources can move between productions, resulting in a more elastic supply. Reference: John Sloman Alison Wride, Economics, 7th Edition, Page 58. Conclusion Subsequent to the above text consisting of the Supply theories and its implication we could identify the factors that may directly cause the Supply either Surplus or Shortage. Having said that, the necessities of the supply are proposed transparently combining various abilities and the willingness of the producer and their assumption. Also the producer Supplying behaviour is related to the nations economical status and external factors (Climate, Transport, Trend) in the United Kingdom on the whole. TASK 2 WORD COUNT 1500 ANALYSE THE REASONS THAT FIRMS SEEK TO EXPAND THEIR BUSINESSES VIA INTERNATIONALISATION. HOW FIRMS THAT YOU HAVE RESEARCHED HAVE PURSUED THE GLOBALISATION OBJECTIVE? Introduction Surfacing the fact that the humankind business endeavours eyeing on high levels of branding and marking their presence all over the world by adapting the input called the Internationalisation. Most of the third world nations are now in the realism of making the most out of it, in terms of manpower and technological progression. With the presence of WTO the world trade organisation and its phenomenal support it has even made easier to connect nations across the globe with traditional business evolution in the way it is suppose to be. Having said that, the key concept is globalisation and its revolution in the modern business environment. This perceived text from the research will clarify the concept of internationalisation and the purpose it serves to aid the organisation picked as an example. And will also justify the adaptation on globalisation to pursue the objectives with complete satisfaction. Internationalisation The expression is closely attached with the term economic globalisation. This concept can be rephrased as the integration of national economy in to the international economy. Which is done by trade foreign investment, capital flows, spread of technology and the presence of security. The late 20th century offers the rural sociology and revitalization in the crisis of development theorist. The rising concern in the sustainability reveals the limits of up gradation concept. It is vital that every nation and the business existing should imply the globalization in their environment. Of-course the unrevealing support of the nations involved in the globalisations speaks loud for its own steps forward in the long lasting business era. However internationalisation is commonly recognised and path driven by amalgamation of vital aspects such as Economic Technological Socio cultural political Biological factors. Source: http://www.dadalos.org/globalisation/grundkurs_4.htm This phrase can also be acknowledged for the fact that it is transnational circulation of ideas, languages or cultural variance. These aspects are belonging to the humanity across the world which has gone through the process can be said to globalised. Significance of internationalisation Globalisation has a various aspects which affects the world business in several different ways. The emergence of the concept was very vital and as discussed earlier the positive outcomes are way too longer. It is advised to adhere to the principles of global marketing instances. The swiftness of internationalisation will continue to have a growing impact on business organisations and their practices evenly. Internationalisation hastens the development of the third world countries. Internationalisation of communication has a phenomenal upshot. Internationalisation fetches equalization of income distribution. Internationalisation brings about increased opportunity in the poor countries. Pessimistic values on internationalisation Although the rising concerns in the firms affiliated with the paradigm internationalisation, which has left hardly any hurdles or negative effects relating the organisation with that of its man power resource etc. The developed nations in this modern business environment adapt the policy of outsourcing which happens in manufacturing and white collar jobs. The exploitations of the globalisation have led the child workers usage in atrocious conditions in order to produce cheap good by ignoring safety concerns. Earlier in this business world, the workers had stable jobs but now the people live in constant dread of losing their jobs to competitiveness in the environment.. The world of terrorism has involved them in usage of internet for their global terror information postal. Nevertheless the growing concerns of the firm have witnessed these negative aspects in establishing their brand. Submission of Internationalisation in relation to a hospitality firm. Globalisation is measured in various key aspects and the most immense thought has to be prearranged to the people industry which is called the hospitality trade. This concept is symbolized by the rapid movement of people, information and capital across national borders worldwide. Although this paradigm is a contemporary force with careful definition it is accepted. Global expansion with common product and branding position are in place to acquire the establishment in control. Sales and marketing of the firm programming in such a way they capture the global economy. Organisational structures that allow delivery of service with local operational control and the usage of world capital market as a primary source of funding. Quilon a personification in the task Succeeding to the illustration and the task given, in which the concept of internationalisation is completely implemented and has witnessed a global accolades for its idea. Quilon the hospitality firm being an example for the task given demonstrates certain prolific dimension to the global restaurant chains. A group of TAJ HOTELS RESORTS Concerning Quilon As a part of an iconic Indian hotel group called the the Taj hotels and resorts Established in 1903, Taj Hotels Resorts and Palaces is one of Asias largest and finest group of hotels, comprising 61 hotels in 42 locations across India with an additional 16 international hotels in the UK, Maldives, Mauritius, Malaysia, Australia, USA, Bhutan, Sri Lanka, Africa and the Middle East. From world-renowned landmarks to modern business hotels, idyllic beach resorts to authentic Rajput palaces, each Taj hotel offers an unrivalled fusion of warm Indian hospitality, world-class service and modern luxury. As they march on in the United Kingdom and established two hotels out of which the crown plaza has the significant Michelin starred restaurant named Quilon. Three other considerations in global expansion for Quilon Restaurant (A Taj Group) Source : Managing the Multinational Enterprise, John M Stopford, P.no 697 Strategic scope for Quilon Global perception is a matter of survival of the business. That is why a strategy is formed to drive the organisation to attain its penultimate vision of a firm. In the following text lets notify the significant features or strategy adopted by the hospitality firm which I have chosen in order to showcase the firms benefit in using the paradigm internationalisation as a business tool. Quilon has adopted Porters diamond theory of international competitive advantage identifies a diamond of four interrelated areas within a nation that assist that country to be more competitive in international markets the four areas being factor conditions, competing firms within the country, support industries of the country and home demand. Source: Porter, M E (1990) The Competitive Advantage of Nations, Macmillan, P.No 691 1) FACTOR CONDITIONS The success of Quilon was depended on the national governments willingness to invest in these areas over long periods of time. Porter emphasised that competitiveness was not just a matter of comparative advantage. Resources can also be home-grown and specialised. Thus, goes well beyond natural resources but can assist in delivering national competitiveness. The Quilon has managed to take competitive advantage on UK market with resources being efficiently used for its establishment has No.1 Ethnic Indian Restaurant. 2) RELATED AND SUPPORTING INDUSTRIES Internationally competitive suppliers and other related industries represent a critical resource for international success. Clusters of such industries, each offering expertise and world-class service, can be vital. For example, Quilon (THE TAJ GROUP) relies on its world success not just from Hospitality sector but on a range of other products like Food Products, Automobile, Steel and Telecom. 3) FIRM STRATEGY, STRUCTURE AND RIVALRY Fierce national competition will drive innovation, force down costs and develop new methods of competing that can then be used internationally by the same companies. Similarly, the Quilon success in Uk was its strength of the highly competitive home market. In Asia the parent company of Quilon has TATA GOUP has established major share of Indian Market. TAG group in UK Hospitality sector has first started with TETLY tea 51 BUKINGHAM PALACE HOTEL and BOMBAY BRAISSIERE which helped Quilon to survive rivalry between the competitors. Source : http://uk.tata.com/ 4) DEMAND CONDITIONS Highly sophisticated and demanding Customers in a nations home market will drive up innovation and quality. Quilon Authentic food with taste and quality created demand among the customer which resulted in tailoring the Menu and delivering the innovate food within the Market. Which awarded Quilon with One Michelin Star for the Quality Delivered. In addition, there are two other factors that are important : 1. The role of Government- Quilon stages of improvement can be influenced by the government regulatios and subsidies. 2. The role of Chance Events The competitive advantage of Quilon can shift in unpredictable ways by various reasons like Recession, Oil price rise and So on. Source: Managing the Multinational Enterprise by John M Stopford, P.No-707 Quilon (The TAJ Group) Market Portfolios The Taj group examines its existing Hospitality portfolio and decides whether new products are necessary. Initially, the firm may provide additional products and services for the domestic market before expanding into international markets . Alternatively, the company may decide to internationalize on the basis of a single successful product. Source : MANAGEMENT CONCEPTS PRACTICES, Tim Hannagan, 4th Edition, P.No- 43 More frequently firms expand internationally by first developing a portfolio of products with the ultimate objective of entering numerous international markets. This was the approach followed initially by Taj Group when it first decided to internationalize. The company built up a portfolio of Hotels and restaurant before venturing abroad. Less frequently firms expand rapidly into many international markets first with a single product and only later do they develop a full portfolio of products. 51 Buckingham Gate was the first international property from the luxury group Taj Hotels Resorts and Palaces which was acquired in 1982, formerly known as St Jamess Court Hotel. After the success of 51 Buckingham Gate, they expanded their hospitality sector by Opening Quilon Restaurant and Bombay Brassiere by 1903. Conclusion: Conversely speaking it is incumbent on all hotel organizations that have aspirations to develop brand names across national boundaries to understand what globalization means. A truly global enterprise will have the ability to react quickly to market opportunities, no matter where they present themselves by applying business concepts that have been proven in the context of a global undertaking. In a world moving more and more towards globalization, hotel organizations will need to communicate more quickly, operate more productively, offer their employees greater opportunity and deliver their customers enhanced benefits. Those companies that address these issues today will be better prepared for the global market space of tomorrow.

Summary of Emechetas The Bride Price :: essays research papers

The Bride Price Buchi Emecheta, the author of The Bride Price, illustrates the life of the Odia family and the hardships they go through together, and on their own. The character who stands out the most, however, is Aku-Nna Odia, the protagonist of the story. Because she is an unmarried teenage girl, life is additionally hard for her. Aside from the difficulties she has because of the death of her father, Aku-Nna is faced with the cultural mission as a female in society to get married so the family can receive a bride price. The author of this fictional story weaves in the theme of male dominance and women?s compliance to men. Life in Nigeria is hard at the time, and Aku-Nna is a character who demonstrates the difficulties of life as a female in this culture. It is clear that men play the dominant gender in Nigerian societies. They are expected to be strong, smart, and powerful. They act as the head of the family as they are the ones who make all the money and decisions. Ezekiel Odia, the father of the Odia family, works a full-time job at the ?Loco Yard.? When he dies, his family is left to fend for themselves. They move back to Ibuza where the mother, Ma Blackie, hopes to find help from her brother-in-law. In this African culture, it is believed that after a husband has died, a woman can no longer take care of herself or her family. ?A fatherless family is a family without a head, a family without shelter, a family without parents, in fact a non-existing family? (28). This statement just further illustrates that men are more important than women in society. In Nigeria, women are inferior to men. They tend to them and do tedious household chores that need to be done. At four o?clock, women work especially hard. ?Four o?clock was the time when all housewives stopped plaiting their hair, when they finished off their gossiping because their men folk would soon be home, hungry, tired, and irritable, so the women would rush to the kitchen to prepare the evening meal? (20). Whatever task men asked their wives to do, women were expected to complete thoroughly. Women were demanded to give birth to healthy males and do household work in society. They were also ?supposed to exhibit more emotion? (30) than men were to express.

Student: Internal Control and Battery Operated Pocket

1. ACCOUNTANCY AND BUSINESS STASTICS Part-I : THEORY & PRACTICE OF AUDITING Min. Pass marks : 36 3 Hrs. duration Max. Marks : 100 Section-A 1. Auditing : Meaning, Objects, Fraud, errors : Book-keeping, Accounting and Auditing; Classification of audits; Planning and procedure of audit; Audit programmes; Auditor's working papers, Test checking; Routine checking. 2. Internal control : meaning, objective and evaluation of internal control; internal check and internal audit; Internal control regarding sales, purchases, assets, liabilities and salaries and wages; vouching. . Verification and valuation of assets and liabilities; Rules laid down in Kingston Cotton Mills Co. Ltd. (1896); Irish Woolen Co. Ltd. (1901); Westminister Road Construction & Engineering Ltd. (1941) and Thomas Gerard and Sons Ltd. (1967). Section-B 1. Audit of sole proprietorship and partnership concerns. Educational institutions, Cinemas, Clubs and Hospitals. 2.Audit of joint stock companies : Appointment, removal and remuneration of company auditor; Audit of share capital, debentures and mangerial remuneration, Audit for the purpose of Statutory Report and Prospectus; Audit of Government Companies with reference to Section 619 to the companies Act, 1956. Section-C 1. Rights, duties and liabilities of an auditor and Rules laid down in London and General Bank Case (1895); Hedley yrne and Co. Ltd. v/s Heller and Partners Ltd. (1863); CIT v/s G. M. Dandekar (1952); Anupam Roy v/s P. K. Mukherjee (1956). 2. Divisible profits including audit of Reserves and Provisions. 3.Audit Reports and Audit Certificates. 4. Investigation : Meaning, objecgtives procedure; Investiation on behalf of perspective purchaser of business, banker and prospective investor. 5. Cost Audit : Meaning, Nature, Objective, Scope and types of cost audit. Book Recommended : 1. B. N. Tondon: ANKEKSHAN 2. T. R; Sharma: ANKEKSHAN 3. S. M. Shukla: ANKEKSHAN 4. Jain, Khandelwal:ANKEKSHAN 5. Spicer & Paglar : Practical Auditing (Indian E d. ) 6. De Paula : Principles of Auditing 7. J. Lancaster : Princi;es and Practice of Auditing. 8. R. G. Williams : Elements of Auditing. 9. Mautz and Sharaf : Philosophy of Auditing. 0. Ronald I. Irish : Auditing. 11. Jagdish Prakash : Auditing. 12. Krinadwala & Krishnadwala : Auditing. Paper-II : OPTIONAL PAPER (ANY ONE TO BE OFFERED) Paper-II (1) : MANAGEMENT ACCOUNTING Min. Pass Marks : 36 3 hrs. duration Max. marks : 100 Section-A 1. Introduction : Meaning of management accounting, conventions of management accounting, organisation of management accounting, functions, responsibilities and qualities of a management accountant, management accounting Vs. traditional accounting, limitations of management accounting. 2. Capital structure : Determinants of capital structure, optimum capital tructure. Basic theory capital structure. 3. Operating and financial leverage. 4. Working Capital : Concept, factors affecting working capital requirements, ascertainment of working caipital requi rements, salient features of Tandon Commitee and Chore Commitee reports. Section-B 5. Financial Analysis : Meaning, nature and importance of financial statements, techniques of financial analysis comparative statements, common size statements, trend analysis, limitations of financial statements analysis. 6. Elementary Ratio Analysis. 7. Cash flow and fund flow Analysis. Section-C 8. Cost of Capital. 9.Capital expenditure decisions, Pay-back period, return on investment, discounted cash flow. 10. Responsibility accounting. 11. Reporting to management. Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless. Books Recommended : 1. Hingorani, Ramnathan and Grewal : Management Accounting. 2. Man Moha & Goyal : Management Accounting. 3. N. K. Kulshreshtha : Theory and Practice of Management Accountancy. 4. P. K. Ghosh : Management Accountancy. 5. S. K. Chakr aborty : Management Accountancy. . N. M. Khandelwal: PRABAMDH LEKHANKAN 7. Agrawal & Agrawal : Management Accountancy (Hindi) 8. S. P. Gupta : Management Accountancy (Hindi) 9. J. Batty : Management Accountancy. 10. Anthony R. N. : Management Accountancy Principles. 11. De-Paula : Managemetn Accountancy Practice. 12. Murphy, M. E. : Managerial Accounting. 13. M. R. Khandelwal: PRABANDH LEKHANKAN Paper-II (2) : ADVANCED COST ACCOUNTING Min. Pass Marks : 36 3 Hrs. duration Max. marks : 100 Section-A 1. Review of Cost Accounting as information system; Concept of costs, Types of costs; Installation of a Costing System. 2.Cost Control as distinct from cost determination; Control over Wastage, scrap, spoilage and defective. 3. By-product and Joint product costing including equivalent units. 4. Cost control Accounts and Integral Accounts. Section-B 5. Marginal Costing : Stock valuation under marginal costing; Absorption costing curve, linear, break even analysis, Break even charts; Differe ntial cost analysis. 6. Cost analysis for management decision making like-Make or Buy; own or lease; repair or replace; now or later; sale of scrap or retain; shut down or continue; expand or contract; dropping or adding a product; suitable product mix. . Pricing decision in special circumstances, like sales below cost, export pricing, dumping and inflation. Section-C 8. Standard Costing : General Principles; setting of standard costs; variance analysis cost; profit and sales variances, presentation of variances. 9. Uniform Costing and Inter firm comparison. 10. Cost Reduction : Meanig; Techniques; Principles and Procedure; Treatment of research and development costs. Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.Book Recommended : 1. Maheshwari and Mittal: LAAGAT LEKHANKAN: SIDDHANT ANVUM VYAVHAAR 2. Prasad, N. K. : Principles and Practice of Cost Accounting. 3. Bhar, B. K. : Cost Accounting : Methods & Problems. 4. Saxena and Vashistha : Advanced cost Accounts. 5. Ashish K. Bhattacharaya : Principles and Practice of Cost Accounting. 6. Horngren : Cost Accounting : A Managerial Approach. 7. Jain, Narang : Advanced Cost-Accounting. 8. Matz, Curry and Frank : Cost Accounting. 9. Shliling and Zordon : Cost Accounting: Analysis and Control. 10. Nigam , B. M. L. , Sharma : Advanced Cost Accounting. 11.Backer and Jacobson : Cost Accounting. 12. Oswal, Bidawat, Mangal: LAAGAT VISHLESHAN ANVUM LAAGAT NIYANTRAN Paper-II (3) : COST AND MANAGEMENT AUDIT Min. Pass Marks : 36 3 hrs. duration Max. Marks : 100 Section-A 1. Cost Audit : Nature, objects and scope; cost audit leading to other services; cost audit and financial audit. 2. Cost auditor : Qualifications, appointment and engagement; rights, duties and responsibilities – professional and legal – under companies Act, 1956 and Cost and Works Accountants Act, 1959; relationship between statutory financial auditor, cost auditor and internal auditor. 3.Professional ethics and misconduct; special penal provision for cost auditors. Section-B 4. Preparation of the cost audit programme; evaluation of internal control system including material inventrory, capacity utilization management information system and internal audit. 5. Preparation and verification of cost records; cost Accounting Re cords Rules u/s 209 (a) (d) of the companies Act, 1956 (only general knowledge is required); Use of statistical sampling methods. 6. The cost audit reports : Contents of reports as per Cost Audit Records Rules u/s (b) of the Companies Act, 1956; Review of cost audit reports by Government.Section-C 7. Management audit, Meaning, nature and scope, qualities of a management auditor, concept of efficiency audit, proprietary audit and operational audit. 8. Specific areas of management audit involving review of internal control, review of purchasing control, review of s elling and distribution policies and programmes, review of manufacturing operations. 9. Corportate social audit : concept, dimenloy and technique. Note : The candidate shall be permitted to use battery operated pocket calcualtor that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.Books Recommended : 1. Management Audit. 2. Choudhary D. Management Audit and Cost Audit 3. Ramanathan Cost and Mangement Audit 4. Cona W. L. Management Audit 5. Tikhe J. G. Cost Audit and Management Audit 6. Rose T. G. Cost Audit and Management Audit 7. Kamal Gupta Contemporary Audit Paper-II (4) : BUSINESS STATISTICS Min. Pass Marks : 36 3 Hrs. duration Max. marks : 100 Section-A 1. Analysis of time series : Meaning, components of time series, methdos of measuring trend, seasonal variations and irregular fluctuations. 2.Interpolation and Extrapolation : Meaning, Nilwon's method of Advancing difference, Binomial and Lagsarg's method. Section-B 3. Associ ation of attributes. 4. Theory of probability : Elementary problems based on permutations and combinations, additive and mutiplicative rules. 5. Probability distributions : Binomial, Poisson and Normal distribution. Section-C 6. Sampling : Meaning, Sample of attributes and variables, Test of significance, large samples and small samples, t-test, F-test and chisquare test. 7. Analysis of variance : One way and two way classification, design of experiments. 8. Statistical quality control.Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless. Book Recommended : 1. 2. 3. 4. Mathur, Khandelwal, Gupta: VYAVSAAYIK SAANKHIYAKI NAAGAR: SAANKHIYAKI KE SIDDHANT S. P. Gupta : Statistical Methods. Sancheti & Kapoor : Statistical Methods. Optional Paper-II (5) : COMPUTER APPLICATIONS IN ACCOUNTING Min. Pass Marks : 36 3 Hrs. duration Max. Marks : 100 Section-A 1. I ntroduction of Computers and automated data processing, development of computers, types of computers, hardware and software. . Binary code system; binary arithmetic, words, bytes and bits, introduction to other number system (octal and hexadecimal), computer languages. 3. Introduction to flow charts, flow diagram importance, symbols and their application. Section-B 4. Introduction to BASIC language : characteristics, contants, variables and expressions, READ, PRINT, AND DATA statements. CONTROL statements. 5. Programming in BASIC language-simple programmes. 6. Business applications; Payroll, iventory control, financial accouting and EDP audit. Section-C 7. Introduction to COBOL language- Histroy of COBOL coding format.Structure of a COBOL program, character set, COBOL words, data names and identifiers, laterals, four divisions of COBOL. 8. Procedure, division and basic verb-More, arithmetic verbs, sequence control verbs, input and output verbs, conditional verb. 9. Writing simple CO BOL programmes. Note : 1. There will be three hours of theory and three hours of computer lab work per week. 2. The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless. Books Recommended : 1. 2. 3. 4. 5. 6. 7. 8. Fundamentals of Computers : V.Rajaraman Programming in COBOL : Schaum Series Principles of Auditing : Tandon Selecting the Computer System : Chorafas System Analysis & Data Processing : Subramaniam and Menon Computer Data Processing : Gordon B. Davis Computer and Common Sense : Roger Hund and John Shelly Machine Organisation An Introduction to the : Pflager P. C. Structure and Programming (New York Wiley, 1982) of Computer Systems 9. Fundamentals of Data Structures : Herowitz E. Sahnaj Co. Computer Science Press, 1978 10. Computer Hardare and Organisation : Solam M. E. 11. Fundamental Concept of Programming System : Allaman J. D. 12.COBOL Programming : M. K. Roy and D. Ghosh 13. Computer Programming in COBOL : V. Rajaraman 14. D. O. S. and 6. 2 Companion : Satish Jain Optional Paper-II (6) : TAXATION LAW AND PRACTICE Min. Pass Marks : 36 3 Hrs. duration Section-A Wealth Tax Act and Rules Max. Marks : 100 1. Definitions : Charge of wealth tax and assets subject to such charges; exemptions; valuation of assets, computation of net wealth and wealth tax. 2. Procedure of assessment : Liability to assessment in special cases; appeals; revision and reference, payment and recovery of wealth tax. refunds. Section B Central Sales Tax and Rules : 3.Definitions; Liability of tax on inter-state sales, rates of tax, determination of taxable turnover and sales tax, declaration forms. 4. Registration of dealers; declared goods and restrictions and conditions on sales of such goods; levy and collection of tax; penalities; appeals. Section C Rajasthan Sales Tax Act and Rules : 5. Definitions; incidence of taxtation; exemptions and concessions; re gistration of dealers; computation of taxable turnover and sales tax. 6. Procedure of assessment; liability to assessment in special cases; payment and recovery of tax; offences, penalties and prosecutions; appeals and revisions.Note : 1. There will be three hours of theory and three hours of computer lab work per week. 2. The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 me mories and should be noiseless and cordless. Books Recommended : 3. 4. 5. 6. Chawala and Gupta: DHAKAR ANVUM UPHAAR KAR Bhagwati Prasad : Wealth Tax and Gift Tax Mehrotra & Goyal : Wealth Tax and Gift Tax Chawala, GUpta and Naahar: KENDRIYA ANVUM RAJASTHAN BIKRIKAR 7. Patel and Chaudhary: DHANKAR, UPHAAAR KAR ANVUM NIGAM KAR 8. Patel and Chaudhary: VIKRAY KAR 9. V. K.Singhania : Direct Taxes Paper-I (7) ADVANCED FINANCIAL ACCOUNTING Min. Pass Marks : 36 3 Hrs. duration Max. Marks : 100 Section-A 10. Alteration of share capital a nd internal reconstruction (excluding framing of schemes). 11. Amalgamation, absorption and external reconstruction of companies (exclusing framing of schemes). 12. Liquidation of companies. Section-B 13. Accounts of Holiding companies. Preparation of consolidated fin ancial statements (Excluding inter-company holdings). 14. Accounts of banking companies and general insurance companies. 15. Double accounts system (including accoutns of Electrictiy companies).Section-C 16. Trends in published accounts. 17. Valuation of inventories; AS-2 18. Accounting for agricultural farms and hotels. 19. Indian accounting standards 6 to 12. Note : 20. There will be three hours of theory and three hours of computer lab work per week. 21. The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless. Books Recommended : 22. Publications of the Institute of Chartered Accountants of In dia. i. Trends in Published Accounts. ii.Indian Accounting Standards 1 to 12 23. Pickless : Accountancy 24. Spicer and Peglar : Book-Keeping and Accounts 25. Shukla M. C. & Grewal T. S. : Advanced Accounting. 26. H. Chakravarty : Advanced Accountancy. 27. R. L. Gupta : Advanced Accountancy, Vol-II 28. Jain & Narang : Advanced Accounts. 29. Monga, Sehgal, Ahuja : Advanced Accounts, Vol-II 30. Jain, Khandelwal, Pareek: Advanced Accounts Paper-II (8) : OPERATION RESEARCH Min. Pass Marks : 36 3 Hrs. duration Max. Marks : 100 Section-A 31. Introduction : Quantitative techniques and operation research, methodology and models of O. R. 32.Linear Programming concept, formulation, graphical solution, primal and dual simplex method. 33. Transportation model, assignment models. Section-B 34. Game theory 35. Waiting line models. 36. Simulation Section-C 37. Inventory control techniqes. 38. Network analysis, PERT & CPM, including time-cost trade off. 39. Quantitative decision models : decision ma king under certainty, uncertainty and Risk expected value of perfect information, decision tree. Note : The candidate shall be permitted to use battery operated pocket calcul ator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.Book Recommended : 40. Mathur, Khandelwal, Gupta: PARINATMAK PRAVIDHIYAAN 41. C. R. Kothari, Vikas : Quantitative Techniques 42. Bonieni, Bierman : Quantitative Methods 43. Kanti Swaroop : Statistical Analysis and Quantitative & Other Techniques. 44. Gupta and Gupta : Operations Research. 45. Ghokaru-Saini: SANKRIYA VIGYAN 46. C. R. Kothari : Operations Research 47. P. K. Gupta & D. S. Hira C. W. : Operation Research 48. Churchaman, R. L. Ackoff & Asnoff : Introduction to Operations Research 49. Mathur, Khandelwal, Gupta, Gupta: Sankriya Vigyan Paper-II (9) : BUSINESS MATHEMATICS Min.Pass marks : 36 3 Hrs. duration Max. Marks : 100 Section-A 50. Arithmetic, geometric and harmonic progressions; compound interest and annuities. 51. Permutations and combinations; binominal theorem for positive integral index only. 52. Graphs and linear inequalities in two variables to determine feasible regions; solution of quadratic equations; relation between roots of a quadratic equation. Section-B 53. Matrics and determinants of a matrix of order upto three only useof matrices in solving simultaneous equations by matrix inversion as well as pivotal reduction method and by use determinants. 4. Linear, quadratic, exponential and logrithmic functions, concepts and determination of break-even point; curve fitting by the method of least square; fitting of linear, quadratic, exponential and logarithmic curves. Section-C 55. Elements of trignometry – (to enable a student to learn Integral Calculus with aid to Trigonometric Rations). Trigonometric Ratios and angles associated with a given angle, addition formulae, multiple and submultiple angles; transformation of sums into products and vice-vers a; definiton of inverse circular function. 56.Elements of differentation, simple application of differential coefficients, maxima and minima of unvariate functions; rules of integration for indefinite and definite integrates, simple application of integration to calculus accounting and business problems. Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless. Book Recommended : 57. Sancheti and Kapoor : Business Mathemtaics. 58. Mehta and Madani : Basic Mathematics for Commerce. 59. S. Saha : Business Mathematics. 60.Brijesh Gupta: VYAVSAAYIK GANIT Paper-II (10) : STOCK MARKET AND SECURITY ANALYSIS Min. Pass Marks : 36 3 Hrs. duration Max. Marks : 100 Section-A 61. Introduction : Meaning, nature and importance of stock market; origin and development of stock market in India; organisation of stock market in India. 62. Function of stock market. Transacti ons of business aspect and forward, speculations and classes of speculations; margin; trading options; hedging, arbitrating; procedure of transfer of shares and bonds; blank transfer. 63. Stock market regulations; Membership; maintenance and audit of their books of account.Securities and Exchange Board of India; its function and control, protections of small investors. Section-B 64. Stock exchanges and new issue market; mechanism of floating new issuesl; listing of securities, underwritng of securities. 65. Types of securities. Fixed and variable, return securities. Equity shares. Debentures – convertrible and non-convertible debentures, warrants, stock options, Government securities. 66. Concept of valuation; Present value. Internal Rate of Return. Holding period yield. 67. Analysis of risk an dreturn on securities. Section-C 68. Fundamental analysis; economic analysis; company analysis; financial and on-financial factors. 69. Technical analysis. 70. Introduction to market e fficiency. Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memo ries and should be noiseless and cordless. Book Recommended : 71. Grahum and Dodd : Security Analysis 72. Prasanna Chandra : The Investment 73. Sinha, S. L. N : Investment Managemetn 74. Bhall, V. K. Investment Management 75. Preeti Singh : Investment Management 76. Birston R. J. : The Stock Exchange and Investment Analysis. 77. Dr. Veena : Stock Market in India. 8. Gupta, U. L. : Working of Stock Exchanges in India. Paper-II (11) : APPLICATIONS Min. Pass Marks : 36 QUANTITATIVE METHODS 3 hrs. duration AND THEIR Max. Marks : 100 Section-A Risk Analysis in capital Budgeting. Ration Analysis Liquidity Ratios and Profitability Ratios. Statistical Quality Control : Introduction control charts for process, variable attributes, defects, etc. uses and Applications of S. Q. C. Section-B Vital Statistics. Interpolation and Extrapolation : Newton's method and Newton's method of dividid differences. Analysis of tiem series including exponential smoothing.Section-C A. P. G. P. and H. P. : Simple and direct problems. Probability : Elementary problems based on permutations and computations. Elements of Set Theory : Definition of Set and Sub-sets, number of elements in a set, ways of specifiying a set equality and sub-set unversal set and null set. Basic set operations, Venn Diagrams. Book Recommended : 79. Statistics : Sancheti & Kapoor. 80. Quantitative Techniques : C. R. Kothari. 81. Business Statistics : Mathur, Gupta, Khandelwal. 82. Quantitative Techniques : Sharma, Jain, Pareek. 83. Oswal, Bidawat, Mangal:LAAGAT VISHLESHAN NIYANRAN ANVUM

Essay Sample on Romanticism and Enlightenment Values

Essay Sample on Romanticism and Enlightenment Values Romanticism is not the bastard child of the Enlightenment but its mistress. Discuss with reference to ideas about savage peoples. In this essay on Romanticism I intend to review some of the key ideas from political and economic philosophy and the general themes that characterised the thinking of the two movements. I hope to trace the course of the perception of the ‘other’ from that of the semi-mythical through to the nascent reject of ethnocentricity. I will be focusing particularly on conceptions of the ‘state of nature’ and the development of the comparative methodology. Finally, I intend to argue that the separation of Enlightenment thought from romantic thought is to some extent a false division in the field of political philosophy. The British Enlightenment movement, (the 17th 18th Centuries), was deeply embedded in the political and economic upheavals of the time. The trial and execution of Charles I was an open challenge to the orthodoxy of the divine right of Kings to rule and much of the later political philosophy was to address the form and nature of government. Science and industrialisation were continuing apace, and by the early 1700s Britain would see the first Industrial Revolution. The old feudal order was rapidly giving way to a new capitalist one. While contributors to the body of work produced during the Enlightenment took quite different philosophical positions, it could be said that at the heart of the Enlightenment movement was â€Å"a confidence in science, a daring attempt at new discoveries about the human mind, an opposition to superstition and fanaticism, an emphasis on human nature, a restrained scepticism about traditional views of knowledge and belief, and a mood of reform and critique .† (Hume, 1999, [1748], 10) A few years after the execution of Charles I, Hobbes was to publish Leviathan (1651), his seminal work in which he laid out his blueprint for civil peace. In Leviathan Hobbes examines the foundations and nature of civil society and envisions man emerging from a ‘state of nature’, (the hypothetical condition existing â€Å"if there were no common power able to restrain individuals, no law and no law-enforcement†. (Hobbes, 1968, [1651], 40)). Essentially, Hobbes believed certain aspects of human life would always bring man into conflict with each other, constantly balancing a desire for power with an aversion to death or injury. He thought that men would reason that the best method of self-preservation was peace and that men should be willing to forgo their â€Å"right to all things† on the provision that everyone else does simultaneously. This system is precarious though as men will always seek to recover his devolved powers and use them to his own advantage and to prevent this, these powers must be surrendered to a sovereign. This entire system is predicated on reason and thus the innate ability of man to determine the ‘laws of nature’: â€Å"A LAW OF NATURE (Lex Naturalis,) is a Precept, or general Rule, found out by Reason, by which a man is forbidden to do† (Hobbes, 1968, [1651], 189). Locke published his ‘Two Treatises of Government’ a few years later and the subject matter has much in common with that of Leviathan. Like Hobbes, Locke believed that â€Å"The State of Nature has a Law of Nature to govern it, which obliges everyone† (Locke, 1960, 271). Elsewhere, Locke clarifies his use of ‘reason’: â€Å"Reason therefore here, as contradistinguished to Faith, I take to be the discovery of the Certainty or Probability of such Propositions or Truths, which the Mind arrives at by Deductions made from such Ideas, which it has got by the use of its natural Faculties, viz. by Sensation or Reflection.† (Locke, 1960, 390) However, Locke’s conception of man in the state of nature is markedly more optimistic than that of Hobbes, political society is not responsible for all that is admirable in man, â€Å"for truth and keeping of Faith belongs to Men, as Men, and not as Members of society† (1960, 277) and neither is the state of nature the chaotic, hypothetic state of nature of Hobbes, but instead that situation where one â€Å"Body Politick† has been formed (1960, 277) Hume is often considered a archetypal Enlightenment thinker, however, he struck an enormous blow against the prevailing rationalism, so prevalent in the thought and writing of Hobbes and Locke, â€Å"Many of these philosophers thought that, using reason alone, they could establish the existence and nature of God, identify the most basic entities that comprise the universe, and grasp the eternal truths of morality† (Hume, 1999, [1748], 11). Hume’s argument is strongly empirical, he claims that most knowledge, knowledge of ‘matters of fact’ as opposed to a priori truths such as those of mathematics, comes from our experience and that it is only through our past experience that we believe it to be ‘true’ knowledge. Furthermore, just because we perceive a cause and effect based on our past experience there is nothing that compels this necessary connection in the future (Hume, 1999, [1748], 109). While a fuller exposition of Hume’s writings i s beyond the scope of this essay it is important to note that Locke’s understanding of reason, that which underpinned his entire philosophy, is comprised of intuitive, demonstrative and sensitive forms of knowledge. Thus the exclusive use of reason as a methodology for understanding the world and its laws was effectively challenged by reason. The formative role of past experience and local phenomena was to characterize much of the political and economic philosophy thenceforth, and although much of this thinking was concurrent with Hume’s work, his influence was especially felt on his friend Adam Smith. Specifically, thinkers were both encouraged further in the scientific method, induction rather than deduction. The search for the fundamental laws governing the universe and human behavior continued but empirical and comparative approaches prospered. ‘The Wealth of Nations’ both examines the inter-connectedness and causes of economic phenomena and provides a form of economic manifesto. Smith took a relativist approach to his work, â€Å"he recognized that in aesthetics, as well as in everything else, standards were variable and there was nothing that was ultimately ‘right’.† (MacFarlane, 2000, 84). Smith saw societies as moving though distinct economic phases influenced by their level of resources, government and whether or not they are at war. Like Locke, he saw the preservation of property as a formative factor in civil society, but unlike Locke this was no social contract but, â€Å"Civil government, so far as it is instituted for the security of property, is, in reality, instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.† (1970 [1776], 610) This kind of environmental determinism is also found in Montesquieu’s writings, he writes extensively on the effect of climate on the character. While his position was certainly not relativist (â€Å"barbaric customs and penitences† (1989, 235)) he strongly embraced the comparative method and prefigured functionalist thought, such as that of Malinowski, by arguing that religious and social phenomena were in part a product of their environment. Rousseau published the ‘social contract’ in 1762, returning to many of themes discussed by Hobbes and Locke a hundred years earlier but from a romantic perspective. By contrast, Rousseau looks not to the civilizing power of pure reason but to emotive forces that can be inculcated into men â€Å"form men if you want to command men.† (1997, 13). Political society is no longer a logical extension of natural law, but â€Å"the social order is a sacred right†¦yet this right does not come from nature; it is therefore founded on conventions† (1997, 41) the social contract ‘substitutes’ â€Å"a partial and moral existence for the independent and physical existence we have all received from nature.† (1997, 69). As Montesquieu had done before him, and Smith would do after, Rousseau believed that environment had an effect on the laws and custom of societies (1997, 74) but Rousseau is possessed of a more relativistic, if not idealistic, perspec tive, â€Å"When, among the happiest people in the world, troops of peasants are seen attending to affairs of State under an oak tree and always acting wisely, can one avoid despising the refinements of other nations which make themselves illustrious and miserable with so much art and mystification?† (1997, 121) The French Revolution, and the shock waves it sent throughout Europe, was considered by some to be the natural result of applied Enlightenment principles. In particular Burke struck out at the â€Å"Empire of light and reason† (1968, [1790], 171), he wrote: â€Å"the pretended rights of these theorists are all extremes; and in proportion as they are metaphysically true, they are morally and politically false.† (1968, [1790], 153) Burke makes an impassioned defense of the merits of tradition and emotive values, â€Å"all your sophisters cannot produce any thing better adapted to preserve a rational and manly freedom than the course that we have pursued, who have chosen our nature rather than our speculations, our breasts rather than our inventions, for the great conservatories and magazines or our rights and privileges.† (1968, [1790], 121). This appeal to the values of emotion and a rejection of the primacy of rationality is characteristic of Romanticism which is echoed throughout the literature and music of the period. However, to view it independently or entirely in opposition to the Enlightenment is fallacious, it is very much a continuation and expansion of some of the key ideas: â€Å"This can be seen with particular clarity in the fundamental schema of the philosophy of history that romanticism shares with the Enlightenment and that precisely though the romantic reaction to the Enlightenment became an unshakable premise: the schema of the conquest of mythos by logos†¦It is supposed to represent progress in the history of the mind, and precisely because romanticism disparages this development, it take over the schema itself as a self-evident truth.† (Gadamer, 1999, 273) As a final point, and to return to the assertion of the essay title, in could be argued that in some ways the analogy of the Romantic Movement to that which is female is particularly appropriate given later structuralist thought. While rationality, science and individuality are associated with the masculine (â€Å"I flatter myself that I love a manly, moral, regulated liberty as well as any gentlemen of that society† (Burke, 1968, [1790], 89), nature, superstition, emotion, the body and the organic conception of social systems are often conflated in western society with the feminine.

Global Supply Management

Global Supply Management As businesses becomes before and more aligned to a completely global mode of operations, many organisations representing a number of disparate industries, including manufacturing, service, public service, social enterprises, NGOs, pharmaceuticals, food service and construction firms now run their businesses using a network of global suppliers.Advertising We will write a custom essay sample on Global Supply Management specifically for you for only $16.05 $11/page Learn More Operating a global supply chain has become a highly efficient means by which a company can boost profitability through streamlining production, reducing labour costs, minimizing the expense of equipment, cutting down on transportation and delivery costs and decreasing transit duration between suppliers, firms and customers (Bloom Kotler 1975; Cook 2011; Edgell, Meister Stamp 2008; Fisher 2011; Lloyd 1996; Porter 1985; Saxena 2010; Stauffer 2003). For the purposes of this paper, a supply chain refers to a group of three or more units, organisations or persons directly concerned with providing, manufacturing or producing the upstream and downstream current of services, information, parts, products or funds from a resource to a client (Cook 2008; Edwards 2006; Kelley Nagel 2007; Porter 1985). The following paper will critically evaluate the strategic rationale for why organisations might choose to use global suppliers from these so-called high risk regions, particularly when there might be less risk in using local supply chains, as well as the impacts that natural phenomenon and political unrest might have upon these types of global logistics and supply chain management strategies. The paper will also offer some strategies as to how to mitigate the impact of instability in the global supply chain. Strategic Rationale Part A of this paper discusses the strategic rationale as to why an organisation might choose to use a global supplier from a high risk region when less risk might be incurred using a supplier closer to home. Logic would dictate that if the home region of a global supplier is undergoing political turmoil through a transition in government leadership, terrorist activity, or if it was recently hit with a major natural disaster such as an earthquake or tsunami, the firm may be best served to move and transfer its interests from a regional supplier to a supplier in a safer part of the world, one in which the government appears stable, no major protests are underway, and where the climate is not prone to hurricanes and the like.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Typically, the first and most logical strategic response to this question is based in cost. Specifically, how much does it cost to move, versus how much does it cost to stay? The answer to this question will also depend on where the company is in terms of setting up its global supply chain, whether at the beginning of the process or well into it, what the function of the particular unit of the global supply chain in the overall upstream and downstream flow of the business is, the level of diversification that already exists within the global supply chain, and how long the company has based its operations in that particular region (Burke Cooper 2008; Cross 2007; Griffin 2008; Giermanski McGhee 2007; Glisson, Milton Jones 2009). Now that recent world events have illuminated the â€Å"inverse relationship between risk and efficiency [and] cast [it] in high relief, supply chain managers realize that they can no longer focus solely on cost reduction- any calculation of a supply chains return on investment must also take customer satisfaction into account† (Stauffer 2003, par. 4). However, cost remains the main driver of business decisions, and where global supply chains are concerned, if a company has already invested millions in a reg ional supply chain, cost becomes the number one factor. A company that has set up a global supplier in a region that was initially stable for many years and has become fractious over time must weigh the cost of moving its operations to a safe zone, and this weighing of costs must be applied to both short term and long term business goals. Similarly, a company that that has set up a global supplier in a region that was recently hit by a natural disaster must weigh the costs of moving its operations as opposed to staying in the affected region and repairing the damaged infrastructure. In global supply chains, it is the â€Å"integration of business processes, not individual functions, that creates value for customers and these processes reach beyond the boundaries of the firm† (Altay Ramirez 2010, p. 59).Advertising We will write a custom essay sample on Global Supply Management specifically for you for only $16.05 $11/page Learn More In this regard, even if the individual function – in this case, the unit of the global supply chain that has been threatened by terrorists or has been hit by a natural disaster – is temporarily out of commission or under threat, the company may decide that the unit fits too well into its overall integrated business model to change. A number of the most successful firms in the world have been operating global supply chains for many years and as such have built up strong networks, strong relationships and strong financial incentives in the global regions where they operate elements of their supply chains. As the leadership of any company can attest, networks, relationships and mutually enhancing financial incentives take years and years to build, and the idea of starting all over in a new region where the company will be one of many competitors bidding on the same parcel of land or negotiating with little or no personal leverage is simply too expensive a proposition to risk for many com panies. Also, strategically speaking, natural disasters tend to be short term problems. While they do cause massive amounts of damage, they do not happen annually; thus, a company may decide that in the long term expenditure, it will be cheaper and more prudent to repair the damaged infrastructure and remain in the region rather than incur the enormous cost of moving operations and setting up operations in a new location. Finally, labour costs continue to factor significantly into the strategic rationale applied when managing a global supply chain. Political unrest may be a small price to pay when faced with a jump in labour costs that will number into the millions for a globally integrated firm. Other strategic factors that may prompt firms to remain in politically unstable regions or regions prone to natural disasters include the degree of skill manifested in the labour force, tax incentives, beneficial rates of currency exchange and the efficiency of transport infrastructure such as ports (Bloom Kotler 1975; Cook 2011; Edgell, Meister Stamp 2008; Fisher 2011; Lloyd 1996).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Risk management is the second element of the strategic rationale, and again, this equates to long term and short term business goals. As Stauffer (2003, par. 7) notes, risk can be seen as the sum of â€Å"frequency times consequencea high-frequency/low-consequence event, such as the regular fluctuation of currency exchange rates [is] similar to a low-frequency/high-consequence event, such as the sinking of a cargo ship laden with critical parts†. However, risk management varies widely from firm to firm, and also varies widely according to industry. An example is the recent earthquake in Japan. As the well-established â€Å"epicenter of high-tech manufacturing,† when the earthquake hit it affected the high tech industry to a much greater degree than other industries, because the vast majority of the major high tech firms use suppliers in Japan as part of their global supply chain (Fisher 2011, par. 2). In addition, depending upon the particular firms tolerance for risk, such â€Å"apparently similar risks can have vastly different qualitative effects† (Stauffer 2003, par. 7). Risk tolerance and risk management will also depend largely on corporate culture, the liquidity of the company, its insurance strategies and capabilities and the type of industry. Most importantly, risk management can be best served by a highly diversified global supply chain (Jà ¼ttner Maklan 2011). One of the ways that companies incur greater risk is through amassing a large portion of its suppliers for one particular part or service in one region (Belzer Swan 2011; Jà ¼ttner Maklan 2011). The ensuing clustering effect of global suppliers all located in one geographic region â€Å"can have serious consequences in the event of a natural disaster or political unrest† (Stauffer 2003, par. 7). Firms that operate global supply chains are well advised to diversify as much as possible. For example, rather than have one part sourced from one region, the firm can have it sourced from two or three regions in different parts of the world. Cost savings can be tweaked via reduced labour costs, tax incentives and currency rates, and the main benefit to global firms is that the â€Å"supply chain can insulate [the company] against shortages and other unpredictable problems† such as natural disasters or terrorism (Fisher 2011. par. 3). Finally, the third element of the strategic rationale is a question of trade-offs. Trade-offs transcend the basic reduce cost at all cost model of global supply chain management. For example, if the trade-off to operating in a region where the labour costs are the lowest in the world means that the company undergoes regular bombings from terrorist groups, the savings in labour costs may be eaten up by the expense of continually repairing or upgrading infrastructure, hiring additional security or implementing costly and complex firewalls and network security protocols. Trade off thinking goes along way toward a dopting a strategic global supply chain policy that allows for flexibility, agility and the constant streamlining of processes while keeping costs reasonable and continuing to increase profitability. Impacts of Natural Phenomena and Political Unrest Part B of this paper discusses some of the impacts that natural phenomena such as tornadoes and tsunamis as well as political unrest might have upon these types of global logistics and supply chain management strategies. The aforementioned definition of global supply chain points to a key component of the successful global supply chain, namely, the â€Å"direct link between the companies in a supply chain† (Altay Ramirez 2010, p. 59). Numerous supply chain management studies indicate that one of the pivotal indicators of success in a global supply chain rests on the realization that a global supply chain represents an assembly of interdependent parties; therefore, coordination and management of the global supply chain must always be a strategic response to the problems that emanate from the inter-reliant units within the chain, and the chain must always be viewed from a holistic perspective (Altay Ramirez 2010; Bakshi Kleindorfer 2009; Claessens Schmukler 2007; Perry 2007; Sarathy 2006). As a cohesive, integrated business unit, direct threats to the supply chain will be felt all the way through it. Thus, it is incumbent upon those responsible for global supply chain management to understand their charges as interconnected entities rather than isolated processes, as this attitude will likely build resiliency within the supply chain and bolster its ability to weather threats from both natural and human disasters (Fisher 2011; Jà ¼ttner Maklan 2011; Sheffi 2001; Stauffer 2003; Suder 2006; Wechsler 2011). The locations of these global suppliers are sometimes found in regions of the world that historically can be prone to the impact of natural phenomenon such as earthquakes, hurricanes or typhoons, flooding , tsunamis, and most recently, political unrest through the removal of traditional government regimes in certain countries as well as ongoing terrorist activities and threats, both real and perceived. Natural phenomena such as wildfires, earthquakes and floods can produce major disturbances in global supply chains, as they impede business operations and reduce the producing capacity of the companies doing business in the region that the natural disaster strikes (Altay Ramirez 2010; Alternate supply: disaster in Japan forces manufacturers to look elsewhere 2011; Belzer Swan 2011; Burke 2005). These regions of the world and the suppliers situated there would arguably present high levels of strategic risk for any organisation choosing to design their supply chain landscapes involving these areas. As Stauffer (2003, par. 2) notes, â€Å"terrorist strikes, political instability in Third World countries, and last years shutdown of West Coast shipping docks- have awakened managers as ne ver before to supply chain risks, some of which had been introduced or heightened by the very actions companies had taken to drive costs out of their supply chains†. Natural disasters have the power to harm or destroy infrastructure, interrupt supply chains and ultimately have an effect upon the profitability of the business as a whole, and natural disasters tend to affect all the elements within an existing supply chain (Altay Ramirez 2010). When a natural disaster occurs, â€Å"gaps in supply chain security hamper the safety and security of freight transport†¦this risk increases the deeper in the hinterland it originates† (Belzer Swan 2011, p. 41). The impact of a natural disaster on a global supply chain will differ according to the type of business as well as the type of natural disaster; therefore, different natural disasters may leave certain supply chains unscathed, whereas others will be completed obliterated. For example, in their 2010 study, Altay and R amirez (2010, p. 60) discovered that â€Å"the damage by windstorms and floods seem to be dramatically different from that of an earthquake, providing evidence against the all-hazards approach†. What the literature appears to be telling supply chain managers is that natural disaster do not come in cookie-cutter parcels that can be easily insured against, planned for or avoided; each one is different, and each one will have a different impact on the supply chain network (Holbrook 2011; Ngoctran 2011). For example, Altay and Ramirez (2010, p. 60) demonstrated that the â€Å"impact of floods on total asset turnover of a firm is dependent on the firms position in the supply chain. We found that while upstream partners enjoy a positive impact, downstream partners have to plan for the opposite†. What this means is that the impact of a natural disaster will be specific and not localized to the region it affects. Rather, the disaster will affect all the links in the chain. Thu s, â€Å"a supply chain-wide mitigation strategy rather than a company-specific one† appears to be the most efficient and pragmatic approach to natural disasters for supply chain managers to adopt (Altay and Ramirez 2010, p. 60). There also appears to be an inverse relationship between the complexity of a given global supply chain and the cost that a natural disaster will exact on the network (Altay Ramirez 2010; Gad-el-Hak 2008; Haight 2003). This is less true of political unrest. Political unrest and terrorism differs significantly from a natural disaster in that the latter tends to happen once, whereas the former can easily become chronic. Political unrest and terrorism can drag on for years, and the costs involved in hiring more security personnel, beefing up web security, hiring the IT expertise necessary to combat cyber terrorists, and repairing equipment or work spaces damaged or destroyed by terrorist activities can bleed the company for years at a time. Political un rest that occurs during a change in leadership can also prove expensive for a company operating a complex global supply chain, particularly if the political regimes are corrupt. In addition, unrest of a politicized religious nature can often lead to additional costs to the company if the new regime demands that employees take time out of their work day for religious activities. Terrorism in particular can have a long term impact on the financial stability of the firm, and this varies from industry to industry; however, as a rule, investment and access to capital tend to wane in politically charged environments (Jà ¼ttner Maklan 2011; Sheffi 2001). This occurs for both logical and emotional reasons. In a region dominated by terrorist activity, investors will fear for their investments more so than in a region where there is no terrorism. Terrorism by nature invokes fear, not simply for financial investment for personal safety as well; therefore, a region dominated by terrorism quic kly becomes a no-fly zone for investors, and this can lead to reduced capital for firms. This in turn affects a firm’s ability to grow. As a result, over time regions where terrorism persists will witness an exodus of many firms, as once the problem of terrorism takes root it quickly becomes chronic and difficult to root out. Global supply chain management involves a delicate touch and a holistic framework. Firms that grow to comprehend the â€Å"depth of their supply chains and critical dependencies† are the firms that tend to succeed over the long term (Fisher 2011, par. 12). Cost, while ultimately the main driver of most major business decisions, cannot be the only consideration in global supply chain management. Where natural disasters and political unrest are concerned, there is no such thing as a one size fits all plan that will insulate a supply chain. Each natural disaster is different and will affect the chain differently. A firm that employs a strategic respo nse to each natural disaster such as building in more suppliers and incorporating both geographic and political diversity among their suppliers will be far more likely to weather the storm. Reference List Altay, N, Ramirez, A 2010, ‘Impact of disasters on firms in different sectors: implications for supply chains’, Journal of Supply Chain Management, vol. 45 no. 4, pp. 59-102. ‘Alternate supply: disaster in Japan forces manufacturers to look elsewhere’, 2011, Industrial Engineer, vol. 10, pp. 5-12. Bakshi, N Kleindorfer, P 2009, ‘Co-opetition and investment for supply-chain resilience’, Production and Operations Management, vol. 18, no. 6, pp. 583–603. Belzer, M Swan, P 2011, ‘Supply chain security: agency theory and port drayage drivers’, Economic and Labour Relations Review, vol. 22 no. 1, pp. 41-55. Bloom, P Kotler, P 1975, ‘Strategies for high market share companies’, Harvard Business Review, November, p p. 63-72. Burke, R 2005, ‘International terrorism and threats to security: implications for organizations and management’, Disaster Prevention and Management, vol. 14 no. 5, pp. 639-643. Burke, R Cooper, C 2008, International terrorism and threats to security: managerial and organizational challenges, Northampton, Massachusetts, Edward Elgar Publishing. Claessens, S Schmukler, S 2007, ‘International financial integration through equity markets: which firms from which countries go global’, Journal of International Money and Finance, vol. 26, pp. 788-813. Cook, T 2008, Managing global supply chains: compliance, security and dealing with terrorism, Boca Raton, Florida, Taylor Francis. Cook, T 2011, Compliance in today’s global supply chain, Boca Raton, Florida, CRC Press. Cross, C 2007, ‘Studies in survival: future supply chains are growing in a laboratory’, Industrial Engineer, August, pp. 44-49. Edgell, J, Meister, G Stamp, N 2008, â €˜Global sourcing trends in 2008’, Strategic Outsourcing: An International Journal, vol. 1 no. 2, pp. 173-180. Edwards, J 2006, ‘Thinking inside the boxes: global supply chains must now address government logistics mandates, a post-9/11 legacy that is only becoming more complex’, CFO, The Magazine for Senior Financial Executives, vol. 8 no. 1, pp. 81-96. Fisher, D 2011, Japan disaster shakes up supply-chain strategies. Web. Gad-el-Hak, M 2008, Large-scale disasters: prediction, control and mitigation, New York, Cambridge University Press. 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Kelley, E Nagel, T 2007, ‘The impact of globalization on structuring, implementing, and advising on sourcing arrangements. Georgetown Journal of International Law, Spring, pp. 619-632. Lloyd, B 1996, ‘The outlook for globalisation’, Leadership and Organization Development Journal, vol. 17 no. 1, pp. 18-23. Ngoctran, A 2011, ‘The Vietnam case: workers versus the Global supply chain’, Harvard International Review, vol. 33 no. 2, pp. 60-81. Perry, M 2007, ‘Natural disaster management planning; a study of logistics managers responding to the tsunami’, International Journal of Physical Distribution Logistics Management, vol. 37 no. 5, pp. 409-433. Porter, M 1985, Competitive advantage: creating and sustaining superior performance, New York, Simon Shuster. Sarathy, R 2006, ‘Security and the global supply chain’, Transportation Journal, vol. 45 no. 4. pp. 28-34. Saxena, R 2010, ‘Define logistics, Industrial Engineer, vol. 11, pp. 24-26. Sheffi, Y 2001, ‘Supply chain management under the threat of international terrorism’, The International Journal of Logistics Management, vol. 12 no. 2, pp. 1-11. Stauffer, D 2003, Supply chain risk: deal with it. Web. Suder, G 2006, Corporate strategies under international terrorism and adversity, Northampton, Massachusetts, Edward Elgar Publishing. Wechsler, J 2011, ‘FDA promotes innovation, access to medicines while moderni zing operations’, Formulary, December, pp. 550-611.