The ability to learn faster than your competition may be the only Essay

The ability to learn faster than your competition may be the only sustainable competitive advantage - Essay Example marking is an externally focused quality improvement technique that looks at the best practices of departments within the organisation, competitors and organisations with activities that are deemed to be functionally similar. As long as superior performance is identified the next step is to gain an understanding of the enablers or drivers of such performance and then apply them to the organisation (Swanson 2005, p. 243). Benchmarking is one of the strategies used in order to compete effectively in the market. It is a process that is used by organisations in order to target the key areas in their operations that can be used to improve competitiveness, productivity and quality. Organizations use benchmarking when they compare their performance against other companies doing similar business (Gitlow 2005, p.195). Quality needs to have a basis for comparison and so organisations use this strategy to determine how they are performing in comparison with their competitors. This allows them to remain competitive. Comparison is normally done with the best performing organisations. Every organisation can benefit from benchmarking as it is highly unlikely that an organisation does everything well or has nothing to learn from the successes of other organisations (Swanson 2005, p. 203). Benchmark is done as a structured process so as to improve performance and achieve improvements. Benchmarking simply put, is the practice of being humble enough to admit that someone else is better at doing something, and being wise enough to learn how to match and even surpass them at it (Williams 2004, p.226). Benchmarking as mentioned is done so as to set performance standards and so as to achieve superior performance that will result to having a competitive advantage in the industry (Peters 2007, p.89). The 2 basic types of benchmarking are internal and external. The internal aspect of it involves self analysis of a company’s own activities so as to determine its strength and

Oxygen and Trees Essay Example for Free

Oxygen and Trees Essay Trees alter the environment in which we live by moderating climate, improving air quality, conserving water, and harboring wildlife. Climate control is obtained by moderating the effects of sun, wind, and rain. Radiant energy from the sun is absorbed or deflected by leaves on deciduous trees in the summer and is only filtered by branches of deciduous trees in winter. We are cooler when we stand in the shade of trees and are not exposed to direct sunlight. In winter, we value the sun’s radiant energy. Therefore, we should plant only small or deciduous trees on the south side of homes. Wind speed and direction can be affected by trees. The more compact the foliage on the tree or group of trees, the greater the influence of the windbreak. The downward fall of rain, sleet, and hail is initially absorbed or deflected by trees, which provides some protection for people, pets, and buildings. Trees intercept water, store some of it, and reduce storm runoff and the possibility of flooding. Dew and frost are less common under trees because less radiant energy is released from the soil in those areas at night. Temperature in the vicinity of trees is cooler than that away from trees. The larger the tree, the greater the cooling. By using trees in the cities, we are able to moderate the heat-island effect caused by pavement and buildings in commercial areas. Air quality can be improved through the use of trees, shrubs, and turf. Leaves filter the air we breathe by removing dust and other particulates. Rain then washes the pollutants to the ground. Leaves absorb carbon dioxide from the air to form carbohydrates that are used in the plant’s structure and function. In this process, leaves also absorb other air pollutants—such as ozone, carbon monoxide, and sulfur dioxide—and give off oxygen. By planting trees and shrubs, we return to a more natural, less artificial environment. Birds and other wildlife are attracted to the area. The natural cycles of plant growth, reproduction, and decomposition are again present, both above and below ground. Natural harmony is restored to the urban environment.

Preventing PC Issues :: essays research papers

Several people in the class have had "computer problems" in the last couple of weeks. This is often caused by Aware, Spyware, Malware, Viruses, and not maintaining the hard drive. Many times people will buy a new PC and 6-8 months later cannot understand why it is running so poorly. I rebuild a lot of computers for people. If it is a Pentium III or better and the person has all the original software that came with the pc, it is not a difficult task, although it can be time consuming. There are several things we can do to prevent this from happening. Defrag the hard drive weekly or at the very least once per month. Get the "red" out. (On an XP OS it is: Start-->All Programs-->Accessories-->System Tools-->Disk Defragmenter) Use a good virus program and keep it updated. Norton or Mcaffee are the most popular. A new-comer is PC-cillin by Micro Trends. They have a very good application that uses very little resources and they update their "dat" files much faster than the other big two, include a spyware search and have 24 hour phone tech support. Do a search on the internet. There are a lot of great articles by magazines such as PC Magazine written about this program and company. Norton and Mcaffee have not updated their engine in almost 2 years. Download Ad-aware and Spy Bot and use them weekly. These are free programs you can find with a simple Goggle search, download and install. The updates are free also. These programs will find most of the pesky programs you don't want on your computer. Back up your data. All your MS Office data files; .doc, .xls, .ppt .mdb, email, jpeg pictures, etc. If you have a CD burner, you can copy 750mb on each disk. If you have a DVD burner, you can save 4.7GB on each disk! Don't use "file-sharing" programs that allow you to download music, movies and applications from other people. You never know exactly what you are getting. I have seen some of the most evil stuff coming from these places. Besides, most of that is stealing anyway. Would you want to write or produce something only to see it all over the 'net right after its release? If you have a broadband connection, USE A ROUTER. I can't say it enough. With a broadband connection, Cable or DSL, you are on "open" IP address on the internet.

Latest Development in Network Communication Essay

1.0 Introduction Of Computer Network And Communication A Computer network or data network is a telecommunications network that allows Computer to exchange data. In computer network, networked computing devices pass data to each other along data connections.The  information could be stored on device,generated live outside the networkor could be generated by a process on another piece of information.The best-known computer network is the internet.A study of computer networks branches into many areas as we go up from fundamentals to the advanced levels. 2.0 Mobile Computing 3.0 Definition Mobile computing is human-computer interaction by which a computer is expected to be transported during normal usage.Mobile computing involves mobile communication,mobile hardware, and mobile software.It may form a wireless personal network or a piconet.There are three different classes of mobile computing such a portable computers,Mobile phones and wearable computers.Many types of mobile computers have been introduced since the 1990s including the smartphone , tablet computer and ultra-mobile PC. Samsung Galaxy S5 Specification GSM 850 / 900 / 1800 / 1900 LTE 16/32 GB storage Wi-Fi 150 Mbps DL Super Amoled Capacitive touchscreen Services Image/Video Editor Dropbox(50 GB cloud Storage) Smart Stay, Smart pause , Smart scroll Google search , Maps , Gmail SNS Integration Frequencies 802.11 a/b/g/n/ac Wi-Fi Bluetooth 4.0 w/A2DP 3.0 Internet Technology And Services 3.1 VoIP Voices over Internet Protocol (VoIP) is a methodology and group of technologies for the delivery of voice communication and multimedia sessions over Internet Protocol (IP) networks, such as the internet . VoIP converts anolog voice signals into digital data packets and supports real-time,two-way transmission of conversations using Internet Protocol (IP). In addiction to IP , VoIP uses the real-time protocol (RTP) to help ensure that packets get delivered in a timely way.Early providers of voice over IP services offered business models and technical solutions that mirrored the architecture of the legacy telephone network. Second-generation providers,such as skype.VoIP is available on many smartphones,personal computers and on internet access devices.Calls and SMS text Message may be sent over 3G OR Wi-Fi 3.2 BLOG A Blog (WEB LOG) is a discussion or information site published on the World Wide Web and consisting of discrete entries(post) typically displayed in reverse chronological order.Blog were usually the work of a single individual , occasionally of a small group, and often covered a single subject . Many blogs fuction as personal online diaries:others function more as online brand advertising of a particular individual or company. Allowing visitors to leave comments and even message each other is an important contribution to the popularity of many blogs.Most blogs are primarily textual,although some focus on art(art blogs) , photograpghs(photoblogs),videos(video blogs or â€Å"vlogs†),music (MP3 blogs) and audia(podcasts). 4.0 Types Of Network 4.1 PAN A personal area network (PAN) is a computer network used for data  transmission among devices such as computers , telephones and personal digital assistants. PAN are used for communication among the personal devices themselves(intrapersonal communication) or for connection to a higher level network and the internet. PAN can be constructed with cables or be wireless.You can use these networks to transfer files including email and calendar appointments.digital photos and music. 4.2 VPN A virtual private network (VPN) extends a private network across a public network,such as the internet.It enables a computer to send and receive data across shared or public networks as if it is directly connected to the private network. A virtual private network connection across the internet is similar to a wide area network (WAN)link between sites.VPNs securely connect geographically disparate offices of an organization,creating one cohesive network.Besides that,VPN technology is also used by internet users to connect to proxy servers for the purpose of protecting personal identity and location. 4.3 WLAN A wireless local area network (WLAN) links two or more devices using some wireless distribution method and usually providing a connection through an access point to the wider internet.This gives users the ability to move around within a local coverage area and still be connected to the network.Most modern WLANs marketed under the Wi-Fi brand name.It have become popular in the home due to ease of installation and in commercial complexes offering wireless access to their customers:often for free. 4.4 WiMAx Worldwide Interoperabilty For Microwave Access ( WiPAX) is a communications technology that uses radio spectrum to transmit tens of megabits per second in a bandwidth between digital devices such as laptop computers.The forum describes WiMAX as â€Å"a standards-based technology enabling the delivery of  last mile wireless broadband access as an alternative to cable and DSL. Similar to WiFi, WiMAX brings with it the ability to transmit over far greater distances and to handle much more data 4.0 Conclusion During the process of completing S07 assessment, I learned and obtained a lot of information about the current and future development in network and communication.with the types of network available nowdays,works can be done easier.With the Network that is getting better , Information can be found faster. I would like to thank my ICT teacher , which is Pn Khamdani , my friends and lastly my brother that helped and provided more information . 5.0 Reference http://en.wikipedia.org/wiki/computer_network http://www.scribd.com/doc/17093652/SO71-ict-project-work-form-4 http://infolific.com/technology/definitions/computer-dictionary/wimax/ http://compnetworking/about.com/cs/voicefaxovergrip/g/bldef_voip.htp http://www.gsmarena.com/samsung_galaxy_s5-6033.php http://sites.google.com/site/smkbkkickt/coursework-assessment-

Business and Admin Research Information

Give Reasons for agreeing Objectives and deadlines for researching information Agreeing objectives is essential for a team or individual to know what they are focusing on to avoid wasting resources and time. Knowing the How, What, When and Why of an assignment will mean being able to complete the task in a timely manner and correctly. Deadlines strongly affect what you research e. g. World news is being update by the hour, with a well-defined deadline; we can better gather the relevant information as equired.There is no point to having a long deadline and present a report of yesterdays news; Who is interested in old news? How much will you pay for yesterday newspaper? Is it worthless? A copy of todays newspaper is worth money, but yesterdays is worthless. Therefore, objectives and deadline must go hand in hand. With the right objective and a set deadline you know what must be done and how long you have. 1. 2 Give reasons for identifying and agreeing sources of information As there ar e many different ways to find out information, for example; The internetBooks and EBooks Word of mouth etc. , Reference material Academic Journals Magazines Statistics Specialist information Interviews Past speeches Pictures Organizations It is therefore crucial that you make sure the information is correct, relevant and at the right time, with all the required information in hand. Only if data is stored in a procedural manner it can be easily retrieved. Information might be retrieved for marketing purposes, for communications, for monitoring purposes; for surveys and other research that an organisation or business might conduct.Information will also be retrieved in situations where information might have to be shared with partner companies and with the police or Tax Services. Storage of data plays a major role in improving the performance of a company and this can happen either offline or online and in various formats. Storing information is essential for many reasons; these includ e Ease of access and readability, The level of detail you are able to store The choice to have various copies of the information in case of loss and ease of transfer.Be Able To Research Information for Others 2. Agree aims, objectives and deadlines for the information search Agreeing aims and objectives regarding tasks will help you to do your work efficiently as they give a clear idea of what is needed and why. Deadlines are also very important as our customers and our reputation is negatively affected if we don't complete work in the required time, so time limits help to estimate the time you have to spend on each one, otherwise you could spend too long researching one source and then find out it was the wrong source.Having deadlines allows you to structure your own deadlines, allowing a certain mount of time on each source of research, so you do not overlook the information of another. 2. 2 Identify sources of information Question 1. 2 answers this question. 2. 3 Search for and o btain data Research comprises of; â€Å"A creative work undertaken on a systematic basis, in order to increase the stock of knowledge. This includes knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications. † (OECD (2002) Frascati Manual: proposed standard practice for surveys on research and experimental development, 6th edition).It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories. The primary purposes of basic research (as opposed to applied research) is documentation, discovery, interpretation, or the research and development (R;D) of methods and systems for the advancement of human knowledge. There are several forms of research: Scientific Humanities Artistic, Economic Social Business Marketing Practitioner research, etc. Nothing damages someone's professional credibility as quickly as an error, even a inor one.While a simp le calculation error or typo can seem trivial in the scheme of things, it implants doubt into your audience's mind. They now think; â€Å"If this person can make these simple errors, they can also make larger errors†. Errors occur for many reasons; Ignorance Lack of time Poor planning Laziness Incorrect data Invalid source material The most common errors we see are in spreadsheets and written communications. Spreadsheets can be deceiving because they print out or display very professionally and can hide simple calculation errors.Careless manipulation of formulas can cause errors that are difficult to visually detect. that miss detection by spell checker programs due to multiple meanings and basic sentence structure. Also, if the reader finds inconsistences in the flow of the report/ information or if it sounds far-fetched, they being to wonder whether or not the information is plausible. No matter the root cause, errors suggest a lack of caring or attention. Conversely, peopl e notice attention to detail. The customer experience holds true for presentations and report slides.

Greek Golden Age essays

Greek Golden Age essays This paper tells you about the Golden Age of Greece, which is from 500 to 350 BC. It tells about what Greeks did, who they worshipped, and other important things. The thing the Greeks are best known for, is their gods, and stories about them. The stories explained how things became. For instance, one story said that before the earth was made, there was a fight between a god, and a giant. The god killed the giant, and the parts of the giant became the earth. His teeth became the rocks, and his hair became the grass. His hands and feet became mountains, and his toes and fingers became trees. Some of the gods were Zeus, who was the ruler of all the gods, Hera was his wife, and Hermes was his messenger. Artemis was the goddess of the moon, and Apollo was the god of the sun. Poseidon was the god of the sea, Loki, the god of mischief, and, Dionysus, the god of wine. The Greeks, made sacrifices to the gods, so that the gods would honor them, and help them in times of trouble. They sacrificed animals, and other things that were special to them. The Greeks built temples, where they worshipped the gods. Each city had several temples, because each temple was used to worship one god. In each temple, there was a statue of a god that they worshipped. They had an extra big temple, and statue for the god that guarded their city. The Greeks had lots of heroes, who were like role models for their children. Hercules was the strongest man ever, and destroyed many monsters with his strength. Perseus had killed a monster called the Medusa. If someone looked at it, they would immediately turn to stone. Oddysseus beat the Trojans in the Trojan war, and on his way home, with his cunning, tricked, and killed many monsters. The Greeks are also known for their creativity, and knowledge in arts, such as making sculptures, music, and paintings. They made statues out of clay, gold, silver, and bronze. For instruments, they used harps and flutes. ...

Informative Analysis BMW Group

Informative Analysis BMW Group Company history Advertising We will write a custom research paper sample on Informative Analysis: BMW Group specifically for you for only $16.05 $11/page Learn More The BMW Group has positioned itself amongst the 10 largest car manufactures globally The BMW Group was established in 1917 and has managed to position itself amongst the 10 largest car manufacturers globally. Initially, the firm’s core operations entailed designing and production of aircraft engines. Over the past few years, the firm has undergone significant growth. The growth has arisen from implementation of Strategy Number One which was formulated in 2007. The strategy is aimed at attaining two main goals which include; To boost the firm’s long-term value growth. To attain a high level of profitability and returns. Mission statement The firm is guided by a clear mission as stated below; To become the world’s leader in provision of premium services and products in order to enhance individual mobility. Values The firm’s operations are guided by a number of core values which have been the cornerstone of its success. These values include; Responsible action Long-term thinking Environmental protection Social and ecological sustainability Corporate governance The firm’s corporate governance strategy is aimed at enhancing its ability to attain the set goals, objectives and values. The BMW Group has incorporated a comprehensive corporate governance strategy that is comprised of a set of principles, systems and processes.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The firm’s corporate governance strategy is aimed at enhancing its ability to attain the set goals, objectives, and values. Moreover, the firm intends to maximize shareholders’ wealth through corporate governance. The Group is cognizant of the fact that its success will be dependent on the effectiveness with which its operations are managed. As a result, the firm’s management team is constituted of two main organs which include; The Board of Management The Supervisory Board The two boards are constituted of experienced individuals who ensure that effective decisions are made. A high level of trust is ensured between the Board of Management and the Supervisory Board. As a result, the degree of collaboration is improved significantly. Additionally, the BMW Group has formulated its code of operation on the basis of the German Corporate Governance Code. This has enabled the firm to effectively address the shareholders and other stakeholders’ needs. Corporate sustainability Currently, sustainability is one of the most important aspects that firms should consider in their quest to remain competitive. Elmaraghy (34) is of the opinion that adherence to sustainable development determines an organization’s long-te rm success. Elmaraghy (35) cites three main aspects that contribute towards sustainable development. They include; environmental sustainability, economic sustainability and social sustainability. Advertising We will write a custom research paper sample on Informative Analysis: BMW Group specifically for you for only $16.05 $11/page Learn More The firm’s commitment towards economic sustainability is evidenced by incorporation of a value-added supply chain Environmental sustainability The BMW Group appreciates the importance of developing sustainability in its quest to attain long-term and profitable growth. One of the sustainability issues that the firm focuses on is environmental sustainability. Environmental sustainability is concerned with improving and safeguarding human welfare for example by conserving the environment within they operate. In the course of its operation, the BMW Group is committed towards environmental sustainability by ensuring gentle and efficient resource utilization. Adoption of product diversification strategy is motivated by the need to generate profitable growth. Social sustainability According to Elmaraghy (35), a firm attains social sustainability by respecting the needs of the society which it operates. In line with social sustainability, the BMW Group appreciates the fact that there are risks associated with failure to adhere to social sustainability. Such risks may result in loss of reputation and hence the firm’s long-term survival. The BMW Group has developed a strong relationship with the society within which it operates. The BMW Group encourages its employees to be involved in social activities. In 2012, the firm awarded some of its employees for their commitment to the society (Tricker 12).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Economic sustainability This aspect of sustainability involves developing a firm’s long term economic viability and profitability. The firm’s commitment towards attainment of economic sustainability is evidenced by incorporation n of value-added supply chain. In 2012, the BMW Group was ranked 2nd on the basis of the Dow Jones Sustainability Index. Products The firm has incorporated a comprehensive financial services portfolio. In the course of its operation, the BMW Group appreciates the fact that the market is characterized by varying product and service tastes and preferences. Consequently, the firm has integrated the concept of product diversification. Adoption of this strategy is also motivated by the need to generate profitable growth. The firm specializes in production of premium car and motorcycle brands. Some of the premium car and motorcycle brands that the firm produces include; BMW BMW-Mini BMW Motorrad Rolls-Royce Motor Cars. The BMW Group top premium bra nds include Rolls-Royce, Mini and BMW. On the other hand the two main motorcycle brands include Husqvarna and BMW (BMW Group 1) The firm’s motivation to generate profitable growth is one of the factors that drive the firm to expand its product range and to strengthen in global market position. The firm’s production processes are guided by innovation, high performance and engineering excellence. The Group’s products are ranked amongst the best automobile brands in the world. Services The BMW Group is focused towards profit maximization. Consequently, it has incorporated a comprehensive financial services portfolio. The financial service portfolio developed by the firm is based on appreciation of the fact that financial services constitute an essential component in the success of the mobile world. The BMW Group Financial Services is composed of a number of services which mainly relate to provision of financial information. The Group provides financial services in approximately 50 countries globally. Multi-brand financing Leasing Insurance Asset management Dealer financing Company car pools Banking In The BMW Group is cognizant of the global changes that are currently being experienced. One of the elements that the group appreciates relates to mobility. Demand for new individual mobility solutions within the society has increased significantly. However, the global economy has become very volatile as evidenced by increased economic uncertainty thus affecting the group’s operation. One of the ways through which the firm intends to achieve profit growth is by investing in continuous product improvement. Despite these challenges, the BMW Group is committed towards attainment of its goals and objectives. One of the ways through which the BMW Group intends to achieve this is by investing in continuous product improvement. The product improvement process is conducted on the basis of three main product aspects which include technological, cu ltural and structural aspects. In its product development process, the firm ensures that its products and services appeal the target customers. The Group achieves this by offering superb products that are characterized by; A high level of aesthetic appeal Innovative and modern technology High quality Dynamic performance Human capital The BMW Group considers human capital as one of the cornerstones in its future success. The BMW Group considers human capital as the most important factors in its future success. Consequently, the firm has developed a comprehensive employee development policy. The policy is aimed at developing a dedicated and motivated workforce. In 2012, the firm increased the number of apprentices by 10%. Additionally, more than 1,376 young individuals were signed into the firm’s one year training program. This increased the number of employees on the apprenticeship program to 4,266.The firm spent approximately â‚ ¬280 million on professional and vocationa l training. The training program is aimed at developing the firm’s competitive edge in an environment that is characterized by technological change. By investing in human capital development, the BMW Group is able to maintain its competitiveness with regard to technological excellence and innovation. For example, the firm’s research and development team is able to incorporate the consumers taste and preferences when designing their new automobile models (Deschamps 54). Earnings and performance Increment in sales The BMW Group has managed to sustain its profit growth over the past few years. However, 2012 was the most successful financial year in the firm’s history. During this year, the firm’s sales for BMW, Rolls-Royce and Mini premium brands increased to 1,845,186 units, which represent a 10.6% increment compared to 2011. The sales increment has enabled the firm to continue at the helm of the premium brand market segment. By adhering to Strategy Number ONE, the BMW Group intends to sell over 2 million MINI, Rolls-Royce and BMW brand vehicles. The projection underscores the fact that the firm’s future success is anchored on its profitability. Growth in financial services segment Investment in the financial services segment also contributed towards an increment in the level of profitability. An additional 117, 000 customers were added to the firm’s customer base. The Chart below illustrates the firm’s earnings over the past two years. Group Income Statement in million â‚ ¬ 2012 2011 Sales revenues 76,848 68,821 Cost of sales -61,354 -54,276 Gross profit 15,494 14,545 Sales and other administrative expenses -7,007 -6,177 Operating income 829 782 Operating expenses -1,016 -1,132 Profit before financial result 8,300 8,018 Result from equity accounted investment 271 162 Interest income 753 763 Interest expenses -913 -943 Other financial results -592 -617 Financ ial result -481 -635 Earnings before tax 7,819 7,383 Corporate tax -2,697 -2476 Net profit 5,122 4,907 Source: (BMW Group 52) Sales and distribution networks The sales strategy adopted by a firm has a significant impact on the sales revenue generated. The BMW Group has adopted an effective sales strategy which entails establishment of sales subsidiaries. Currently, the firm has a sales network of 41wholly-owned sales subsidiaries. Moreover, the firm’s distribution network is also composed of over 3,000 dealerships. To satisfy international demand, the BMW Group has also incorporated the concept of exportation. Approximately 100 countries around the world are supplied by local importers. Production and assembly locations The BMW Group is cognizant of the fact that the premium car brand market is becoming competitive. Consequently, the firm has established 13 assembly and 24 production plants around the world. This has enabled the firm to effective and e fficient in meeting the global demand. The production plants are located in Germany, South Africa, Austria, Italy, and China. On the other hand, assembly plants are situated in Russia, Egypt, Thailand, India, Indonesia and Malaysia. The assembly plants are mainly operated in collaboration with external partners. For example, in Austria, the firm has entered into a contract production with Magna Steyr Fahrzeugtechnik AG Company. Investment in research and development The BMW Group has established a comprehensive research and development network in various countries such as the US, China, Germany and Austria. Its commitment in research and development enables the BMW Group to be effective and efficient in aligning its products and services with market trends. The firm’s quest to achieve profitable growth motivates its investment in research and development. In 2012, the BMW Group invested â‚ ¬3.9 billion in research and development in order to secure its future growth. The BMW Group has been leading with regard to incorporation of new information technology options in its car models The firm has been at the forefront in integrating new technology in its car models. Some of the technologies that the firm has incorporated include BMW ConnetedDrive and the iDrive. Controversies The BMW Group was accused of launching pre-production prototype in the market (Herron para. 5). In line with its commitment towards environmental sustainability, the BMW Group invested in a program that was aimed at electrifying its Mini brand. However, the firm was accused by Marc Geller and Plugged In America that it did not comply with the CARB regulations. On the contrary, the firm introduced the new model in a rush in order to meet the deadline set. Moreover, the firm was accused of introducing a pre-production prototype which means that the new model was not a properly designed electric vehicle. Succeeding in the premium car brand industry is a challenging task. Consequentl y, firms in the industry have to ensure that they invest in research and development. Additionally, firms have to ensure that they continuously improve their products and services in order to align with the market changes. BMW Group: Brands 2013. Web. BMW Group: Annual report 2012. Web. Deschamps, Jean. Innovation leaders: how senior executives stimulate, steer and  sustain innovation, New York: John Wiley and Sons, 2009. Print. Elmaraghy, Hoda. Enabling manufacturing competitiveness and economic  sustainability, Heidelberg, New York: Springer, 2012. Print. Herron, David. BMW mini e-program has major problems. 6 July 2009. Web. Tricker, Ian. Corporate governance: principles, policies and practices, Oxford: Oxford University Press, 2012. Print.

10 Writing Tips for a Winning Web Site

10 Writing Tips for a Winning Web Site 10 Writing Tips for a Winning Web Site 10 Writing Tips for a Winning Web Site By Mark Nichol Some time ago, I posted some general guidelines for writing for an online audience. Here are some specific time-tested tips for attracting and keeping site visitors with clean, clear writing: 1. Keyword Top Labels Use keywords for window titles and taglines, and keep them sharp and succinct. These labels are for helping Internet users get to your site because they typed them into a search engine and your site came up in the results, not for wowing visitors when they get there (assuming they get there, because you’re not using keywords to help searchers). 2. Keyword Display Copy Employ keywords, not clever words, to begin headings, headlines, and link names, and keep the display copy brief. Most Web site visitors scan just the first one or two words of display copy. In â€Å"Where to Go on Vacation This Summer,† the first keyword appears as the fifth word of seven. (Go isn’t a keyword, because you don’t yet know what kind of going is involved.) â€Å"Summer-Vacation Destinations,† by contrast, gives you three keywords out of three, with the two most important ones in first and second place. This approach is especially advantageous for a commerce site, but your personal blog shouldn’t be any different (assuming you want to attract new site visitors, not just impress current ones). 3. Avoid All Capital Letters Don’t use all capital letters, even in display copy. All-cap text is harder to scan and to read. Do, however, use initial caps for headings and headlines. 4. Avoid Exclamation Points Unless your site is all about bringing the funny or attempting to do so don’t use exclamation points. (Another exception: if all the i’s are dotted with circles or hearts.) 5. Omit Extraneous Spaces or Punctuation All-cap initials and acronyms, of course, but don’t separate letters with word spaces or with periods. Omit apostrophes when attaching a plural s to such abbreviations. 6. Avoid Superfluous Headings Eschew headings and headlines like â€Å"Features† and â€Å"Links† for self-evident sections. 7. Make Navigation and Display Easy on the Eyes Make it easy to find other pages and archived content, and avoid making the home page and other pages busy in general. 8. Keyword Navigation Never use â€Å"Click here† or â€Å"More† (by itself) or â€Å"Next page† for a link name. Use keywords: â€Å"Archive,† â€Å"More Top 10 Lists,† â€Å"Ski Trip, Day 2.† 9. Limit Font and Background Styles Avoid multiple fonts, font sizes, font colors, and background colors. Use one font for display copy and another for running text. Limit italics to emphasis of words and short phrases. Employ boldface generously in display copy but sparingly in running text. 10. Write for First-Time Visitors If you want to attract a general readership, write for a general readership. Don’t dumb down, but do explain obscure terminology and do spell acronyms out. (You could provide a glossary, but briefly explaining, or spelling out, an unfamiliar term needn’t be distracting to either lay readers or experts.) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Business Writing category, check our popular posts, or choose a related post below:Passed vs Past7 Tips for Writing a Film ReviewHow Do You Fare?

Critically evaluate the strengths and weaknesses of labour process Outline - 1

Critically evaluate the strengths and weaknesses of labour process theory for our understanding of the impact of information and communication technologies in the workplace - Outline Example In this regard, the workers will lack an opportunity to develop and build on their talents. It is important to note that the adoption of LPT leads to the compromised output to the work done. The affinity of the machines to making mistakes is higher than that of human skills. LPT limits the aspects of innovation in that discoveries are hard to be deduced by the use of machines as opposed to the use of skilled work force (Price & McConney, 2012). Conversely, LPT fosters management control in that by using the ICT, the management system of the organization enables the management of the organization network and monitors all transactions done by the respective employees. LPT enables the use of various softwares such as the use of the Transaction processing systems among others. Data mining and cloud computing enables the activities of the organization to be managed from one central point. This is beneficial to the organization in that it is able to monitor the trend and performance of its employees (Downard 2009). Price, A, Mansfield, C, & McConney, A 2012, Considering ‘teacher resilience’ from critical discourse and labour process theory perspectives, British Journal Of Sociology Of Education, 33, 1, pp. 81-95. Pushenko, SL 2013, Risk-management and its integration to the system of labor safety management. (Russian), Vestnik Volgogradskogo Gosudarstvennogo Arhitekturno-Stroitelnogo Universiteta. Seriya: Stroitelstvo I Arhitektura, 34, 53, pp.

International business Case Analysis - Wal-Mart Essay

International business Case Analysis - Wal-Mart - Essay Example Why was Wal-Mart unsuccessful in Germany, withdrawing in 2006, and relatively successful in the UK? 12 Reference 16 How attractive was the discount retailing industry in the USA when Wal-Mart first began operations in the 1950s. The US retail industry has considerably changed over the few decades due to two related trends, one being the discount retailing and second factor is the increasing prevalence of the large retail chains. The discounting retailing sector is controlled by chains. The concept is fairly new and the first discount store appeared in the 1950s. Discount retailing is one of the most dynamic sectors in the retail industry. Until 1990s two important retail chains were Wal-Mart and Kmart (Jia, 2007, p. 5). The retailing industry is known to be the second largest industry across the globe with respect to total number of establishment as well as total number of employees. The retail industry generates about $3.8trillion annually. The top five retail industry operating acr oss the world are Wal-Mart, Target, Home Depot, Costco and Kroger. Wal-Mart apart from being the largest retailer globally is also the largest company and generates approximately $256billion sales annually. In discount retailing industry the two main competitors are Wal-Mart and Target. ... With regards to Wal-Mart, suppliers who do not maintain or live up to the expectation of Wal-Mart point of system are thus replaced. Wal-Mart being a big brand and is powerful enough to make the suppliers recognise the fact and the situation when they do good business and thus can very conveniently switch suppliers at its convenience when they do not perform the work as expected. The suppliers also cannot afford to lose on the big brands, the key players and hence the supplier power tends to be low. As shown above the bargaining powers of customer are relative high as discount retail purchase can be substitutable and thus consumers has the power to go between the competitors depicting a high bargaining power. The switching cost involved in shifting from one competitor to another is also low and the consumers demand for high quality products at discount price. It is important to understand that consumer as individual does not have bargaining power with the retail stores but as a group consumers can demand a higher quality product at low price. Consumers are also price sensitive as a result the suppliers need to keep the price low to succeed indicating high customer power. Threat of new entrant is particularly low in the discount retailing industry as there exist a high barrier to enter the discounted retail industry with respect to investors, capital and competition. The huge capital required by a new entrant to compete with all the established retailers will take a longer time and establish them in the retail market. Although the switching cost is low for the consumers but brand loyalty towards a particular brand are relatively high and consumer would not like to shift towards a

Movie Scene Research Paper Example | Topics and Well Written Essays - 750 words

Movie Scene - Research Paper Example He was afraid and worried for walking alone at this time of the night with so much money in his bag. There was certain type of uneasiness in his movement. Rain and alcohol made his vision blurred he was unable to see distant objects. Joey was almost ten steps away from his vehicle, when he suddenly heard screeching of wheels, and within a blink of an eye, a black SUV stopped in front of him. The doors of the car opened, and three well suited Chinese men stepped out of it. Joey knew all the three men from poker table. They were here to take away Joey’s winnings for this night, which they had lost to him earlier that night. Joey, who was already drunk, could not show any resistance to their assault, and he was on the ground with a few blows. Two of these men went back into the car, while the third one stood there and took three gun shots at their prey; he did not left Joey’s body, until it stopped responding. SUV disappeared into the dark, while Joey’s blood flowed along with runoff. The next time when Joey opened his eyes, he was in the ambulance, there were two female paramedics around him, while still half unconscious. He could listen to female voices around him, one of them was going through his wallet for his identification, she called out Joey’s name, his weight an height. After that Joey got lost, he saw his past rewinding in his mind. He recalled his assault with the Chinese gangsters, and the way called him â€Å"Gweilo†, which means white man. By putting more stress on his mind, he was able to discover the reason for his violent encounter with Chinese. It was the money that he had won from them, and they have come back to recollect their wealth, and they believed that he was a wicked American who tricked them in game of cards. He knew how to play poker, and he was best at it when he was drunk. He had memories of his uncle Franco, who taught him, tricks of how to win at poker table. Franco was probably

Tools of Organizational Change Essay Example | Topics and Well Written Essays - 250 words

Tools of Organizational Change - Essay Example It is most viable to formally advise the employees why shifting to biometrics would be more effective than their current system, of say, manual checking of IDs by security personnel. Through an organizational or departmental meeting, the advantages of the biometric system should be communicated, as well as potential resistance to this application should be solicited and addressed (motivating change). By creating a vision through emphasizing a more secure working environment and a security system that is more effective through biometric, employees would realize its benefits through the ease of identifying, verifying, and cross-checking the validity of people entering the organizational premises. Developing political support entails the full acknowledgement and support from senior management, as well as all security and administrative personnel who would orient employees during the transition. Managing the transition entails determining the progress of the biometrics application, including addressing problems and unforeseen issues. Finally, sustaining momentum requires monitoring effective acceptance of the biometric system by the employees as they proceed with their daily organizational activities; as it apparently becomes integrated as part of their organizational life. Only then would this particular organizational change be deemed effective and smoothly enforced by

English Essay Example | Topics and Well Written Essays - 250 words - 48

English - Essay Example According to a report in the Wall Street Journal, the companies have increased their budget of marketing through Social Media (Tadena). Moreover, they can easily quantify the outcome through online surveys. Facebook is the biggest sensation when it comes to Social Media. Almost each and everyone has a Facebook account these days. Instagram came in after Facebook, and it has a different approach to connecting people. The users install this application on their smart phones and then click photographs through this application. One can connect with a lot of people through photographs. I have my account in both of these applications and they have been very helpful to me when it comes to connecting with my friends and family. I personally feel, that social media will never become out of practice because the mindset of the society is changing day by day. In this busy schedule, I feel that people do not have the time to personally call up their friends, rather they prefer to keep in touch wi th them through the social

Tools of Organizational Change Essay Example | Topics and Well Written Essays - 250 words

Tools of Organizational Change - Essay Example It is most viable to formally advise the employees why shifting to biometrics would be more effective than their current system, of say, manual checking of IDs by security personnel. Through an organizational or departmental meeting, the advantages of the biometric system should be communicated, as well as potential resistance to this application should be solicited and addressed (motivating change). By creating a vision through emphasizing a more secure working environment and a security system that is more effective through biometric, employees would realize its benefits through the ease of identifying, verifying, and cross-checking the validity of people entering the organizational premises. Developing political support entails the full acknowledgement and support from senior management, as well as all security and administrative personnel who would orient employees during the transition. Managing the transition entails determining the progress of the biometrics application, including addressing problems and unforeseen issues. Finally, sustaining momentum requires monitoring effective acceptance of the biometric system by the employees as they proceed with their daily organizational activities; as it apparently becomes integrated as part of their organizational life. Only then would this particular organizational change be deemed effective and smoothly enforced by

HEB Grocery Store Case Study Example | Topics and Well Written Essays - 2250 words

HEB Grocery Store - Case Study Example It holds the largest market share in San Antonio, Corpus Christi, and Austin. HEB is owned by the H.E. Butts since the commencement of the 21st century when it was established and is the major private company in the state of Texas. The H-E-B slogan possesses the same acronym as its slogan, which reads out, as â€Å"Here Everything is better†. To accomplish this, HEBN has committed itself to low prices, exceptional service, and friendly shopping. HEB has altered its marketing mix in accordance to the environment. Since the company is popular with Americans of Mexican origin, they carry many Mexican vegetables that might seem foreign to most Americans. HEB thrives on the unique skills and talents of its diverse, dedicated partners who embody their commitment to excellence and provide a strong, competitive advantage in the extremely competitive Texas market. One show of HEB’s internal strength is the consistently high ranking in industry magazines like Forbes and Progressi ve Grocer. The company’s long-standing support for charity has also grown a loyal base of customers. However, one of its major weaknesses is the demographical limitation as they mainly serve Texan towns. Externally, the company could look to increase its market share in towns outside Texas. They could also explore the opportunities from setting up shop in Mexico. The threats faced by HEB can all be tied to its numerous competitors, with Walmart a particularly fierce competitor. Various macro-environmental factors will affect the operations of HEB. These are economic factors like the economic crisis and technological ones too like social networking, which provides for a cheaper advertising platform. Additional factors are political and cultural in nature. HEB GROCERY STORE 1. Introduction & Background HEB Grocery Company is America’s fifteenth largest chain of grocery stores in terms of revenue, as well as being a market leader in Texas. It holds the largest market shar e in San Antonio, Corpus Christi, and Austin. As the largest private company in the state of Texas, HEB is owned by the H.E. Butts since the beginning of the 20th century when it was founded. With 269 stores in operation, most of its business revolves around combination food and pharmacy stores (Plunkett, 2009). Approximately 90 of the stores are small sized pantry stores that boast low prices, are built for convenience purposes and are located between Southwest Louisiana and South east Texas’ rural area. Sixty of the stores feature Gas N Go gasoline self-service islands. HEB also runs stores in Mexico, on top of those in Louisiana and Texas. Among the many products that they process are fruit drinks, meat, tortillas, baked goods, ice cream, cottage cheese, sour cream, yogurt, and milk. HEB also manufactures its own bottles and runs a photofinishing laboratory. The company does not have an official mission statement, although the H-E-B slogan, values, and commitments reveal t he daily mission that they are involved. The H-E-B slogan possesses the same acronym, which reads out, as â€Å"Here Everything is better†. To accomplish this, HEBN has committed itself to low prices, exceptional service, and friendly shopping. HEB has always believed that hard work is vital, as well as given extra attention to caring for their employees. Additionally, they have always dreamt big, hired great employees, offered the best customer service, as well as sold the safest and freshest product (Hylton &

Discipline and Improve Students Behaviour in Classroom Education Essay Example for Free

Discipline and Improve Students Behaviour in Classroom Education Essay The problem of how best to discipline and improve students’ behaviour in classroom is of permanent interest. This review is oriented to searching different methodologies concerning students’ behaviour in classrooms, teachers’ discipline strategies and behavioural management. Different points of view and different examples for appropriate behaviour have been discussed referring to the topic. The sources reviewed present different solutions. This paper examines also the classroom environment and its relation to successful behaviour implementation. The first paragraphs give different definitions conversant with behaviour and discipline according to the authors’ view. The continuation of the literature review is presented by different approaches and strategies concerning a good behavioural management. This elaboration sets out some of the arguments and recommendations which are discussed in more detail. Charles C. M. submits several definitions corresponding to behaviour: Behaviour refers to everything that people do. Misbehaviour is behaviour that is not appropriate to the setting or situation in which it occurs. Discipline†¦ are strategies, procedures, and structures that teachers use to support a positive learning environment. Behaviour management is a science that puts an accent on what teachers have to do to prevent misbehaviour (Charles 1). Students’ behaviour depends on several factors such as traditions, demographic settings, economic resources, family, experiences, and more. Some authors have made important contributions in managing classroom discipline related the twentieth century. Jacob Kounin (1971), one of them, reports that appropriate student behaviour can be maintained through classroom organization, lesson management, and approach to individual students. Rudolf Dreikurs (1972) on the other hand emphasizes the desire to belong as a primary need of students in school. He identifies types of misbehaviour and gives ideas about how to make students feel a part of the class or group (p. 63). William Glasser (1986) shows another view, making a case that the behaviour of someone else cannot be controlled. He reckons that everybody can only control his own behaviour. Personally I support this idea that we must control ourselves. According to the opinion of the other authors, Linda Albert’s, Barbara Coloroso’s, Nelson and Lott’s a good discipline in the classroom can be achieved through Belonging, Cooperation, and Self-Control. A similar idea of classroom management is also presented by Rackel C. F who declares that the teachers, considered it was necessary, â€Å"to develop students’ sense of belonging to the school† (p. 1071) The author supports the opinion of the significance of a good school climate and tells that it might be precondition for facilitating positive youth development (Rackel C. F 1071). In order to attain to a good classroom atmosphere there is a need of growing positive relationship between students and teachers, motivation the students’ participation and clear rules to control classroom discipline (Rackel C. F 1072). In addition these above-mentioned views can be defined as a positive outlook as regards to improving the classroom management. Another point of view inside the subject of managing discipline is through active student involvement and through pragmatic Classroom management (Charles, C. M. 2007, p. 7). Discipline through raising student responsibility is also positively oriented approach for classroom management. The three principles that improve behaviour presented in the article â€Å"Self-assessment of understanding† are positivity, choice, and reflection (Charles, C. M. 12). There the author explains the principles meaning. He states that being positive means being a motivator. When students have opportunity to share their choices they can present themselves with a good behaviour. â€Å"Asking students questions that encourage them to reflect on their behaviour can help them to change behaviour† (Charles 14). Rebecca Giallo and Emma Little (2003, p. 22) from RMIT University Australia give their comments also on classroom behaviour management. They claim that confidence is one of the most important characteristic that influence teachers’ effectiveness in classroom management. Giallo and Little (2003, 22) based on the previous statement of Evans Tribble accept that less confident teachers seem more vulnerable to stressful classrooms. They maintain the theory that the classroom stress is a reason for giving up a teacher’s career. In school the stress can be overcome through involving of drastic measures concerning managing a good discipline. One of the most popular strategy for solving behaviour problems is punishment. By reason of the popularity of the subject in the field of education, many experts have written articles and books as well as given lectures on discipline and punishment. Anne Catey based on Dreikur’s words considers that there is no need of using punishment in class. Based on Catey’s words kids need to have a chance they can share their ideas in the class (1). This is the best way to â€Å"smooth, productive functioning in schools† (Charles, C. M, 1999). Anne Catey from Cumberland High School gets an interview from several teachers in Illinois district about their discipline practices. She accepts the suggestion given by Lawrence as mentioning that, â€Å"very effective technique is a brief conference, either in the hallway or after class, with the misbehaving student† (Punishment, 1). Anne Catey has her own techniques for classroom management. She disagrees with Lawrence viewing about humour as one of the bad strategies for effective discipline and believes that using of humour can be effective if done without abasing the students (Punishment, 1). In this way she gives each one a bit of individual attention. When some of her students are a bit distracted on one task, talking to friends instead of reading Catey says, â€Å"Since I always assume the best of my students, I assume the noise I hear is students reading aloud or discussing their novels. However, it’s time to read silently now instead of reading aloud† (Punishment, 1). This sounds as a good strategy but personally I disclaim this thesis. This doesn’t work all the time. I am trying to be strict with my students and according to this the pupils have to observe the rules in my classes. That doesn’t mean that I admit the severe punishment but rarely the stern warnings. I agree with the following techniques used by Anne Catey (2001) to modify behaviour including giving â€Å"zeroes for incomplete, inappropriate, and/or missing work and taking points off at the end of a quarter for lack of participation and/or poor listening†. As expected, these methods are effective for some of the pupils but not for the others. Related to the above-mentioned topic it could be noticed some of the classroom discipline strategies utilized in Australia, China and Israel. On the basis of elaborated research in these countries some psychologists and school principals (Xing Qui, Shlomo Romi, 2005) conclude that Chinese teachers appear less punitive and aggressive than do those in Israel or Australia. Australian classrooms are presented as having least discussion and recognition and most punishment. In Australia (Lewis, 2005) as concerned to the study the teachers are characterized by two distinct discipline styles. The first of these is called â€Å"Coercive† discipline and comprises punishment and aggression (yelling in anger, sarcasm group punishments,  etc). The second style, comprising discussion, hints, recognition, involvement and Punishment, is called â€Å"Relationship based discipline† (Lewis 7). Coercive discipline according to the above-mentioned authors means the teacher’s behaviour is such as â€Å"shouting all the time, unfairly blaming students, picking on kids, and being rude, to stimulate student resistance and subsequent misbehaviour† (Lewis, Ramon 2). The importance of classroom discipline arises not only from students’ behaviour and learning as outlined above. It depends also on the role of the teacher. Sometimes it is obvious that teachers are not be able to manage students’ classroom discipline and it can result in stress. So,â€Å"classroom discipline is a cohesion of teacher stress† (Lewis 3). Chan (1998), reports on the stressors of over 400 teachers in Hong Kong, claims that student behaviour management rates as the second most significant factor stressing teachers. In the article Teachers’ Classroom discipline several strategies have been presented for improving classroom management. They are Punishing (move students’ seats, detention), Rewarding (rewards, praises), Involvement in decision-making (decides with the class what should happen to students who misbehave), Hinting, Discussion and Aggression. Another strategy for improving discipline in class is conducting questionnaires between the students. It is an appropriate approach for defining students’ opinion about behaviour problems. In each Chinese and Israeli school a random sample of classes at all year levels have been selected. As a research assistant administered questionnaires to these classes their teachers completed their questionnaires (Yakov J. Katz 7). In comparison to all of the mentioned countries the model in China is a little different in that students support use of all strategies except Aggression and Punishment. Based on the conducted research the only strategy to range within a country by more than 2 ranks is Punishment, which ranks as the most common strategy in Australia, and the fourth and fifth most commonly used strategy in Israel and China. The author, Xing Qui generalises that, â€Å"there is not more Punishment at the level 7-12. â€Å"Classroom discipline techniques showed that students in China, compared to those in Australia or Israel, report less usage of Punishment and Aggression and greater use of Discussion and the other positive strategies. At the end of their article â€Å"Teachers’ classroom discipline and Student Misbehaviour in Australia, China and Israel â€Å"(p. 14) the authors recommend that teachers need to work harder to gain quality relationships with difficult students. What I have drawn from reviewing literature so far is that teachers are able to use different techniques for enhancing classroom management in their profession. After making a thorough survey on the above-mentioned issue I would like calmly to express my position. It is harder for the teacher to keep the student focused on any frontal instruction. That’s why as with all classroom management practices, the teachers should adapt what they like to their classroom, taking into consideration the age, ethnicity, and personality of the class as a group, and of them as teachers. Much of the disruptive behaviour in the classroom can be alleviated before they become serious discipline problems. Such behaviours can be reduced by the teacher’s ability to employ effective organizational practices. These skills are individual for each teacher. The lecturer should become familiar with school policies concerning acceptable student behaviour and disciplinary procedures. Establishing rules to guide the behaviour of students is also important. Once these standards are set up the teachers have to stick to them. I agree with the authors who prefer involving the positive approach in behaviour management. But I also accept that some situations are more complicated than the others and in this case the teachers must take drastic measures against inappropriate students’ behaviour.

How People Interact With Search Engines

How People Interact With Search Engines A search engine is a web-based tool that enables users to locate information on the World Wide Web. Popular examples of search engines are Google, Yahoo!, and MSN Search. Search engines utilize automated software applications (referred to as robots, bots, or spiders) that travel along the Web, following links from page to page, site to site. The information gathered by the spiders is used to create a searchable index of the Web. When people use the term search engine in relation to the Web, they are usually referring to the actual search forms that searches through databases of HTML documents, initially gathered by a robot. There are basically three types of search engines: Those that are powered by robots (called crawlers; ants or spiders) and those that are powered by human submissions; and those that are a hybrid of the two. HOW DO SEARCH ENGINES WORK? Every search engine uses different complex mathematical formulas to generate search results. The results for a specific query are then displayed on the SERP. Search engine algorithms take the key elements of a web page, including the page title, content and keyword density, and come up with a ranking for where to place the results on the pages. Each search engines algorithm is unique, so a top ranking on Yahoo! does not only a short period before the search engines developers become wise to the tactics and change their algorithm. More likely, sites using these tricks will be labeled as spam by the search engines and their rankings will plummet. animation mean nothing to search engines, but the actual text on your pages does. It is difficult to build a Flash site that is as friendly to search engines; as a result, Flash sites will tend not to rank as high as sites developed with well coded HTML and CSS (Cascading Style Sheets a complex mechanism for adding styles to website pages above and beyond regular HTML). If the terms you want to be found by do not appear in the text of your website, it will be very difficult for your website to yield high placement in the SERPs. Crawler-based search engines are those that use automated software agents (called crawlers) that visit a Web site, read the information on the actual site, read the sites meta tags and also follow the links that the site connects to performing indexing on all linked Web sites as well. The crawler returns all that information back to a central depository, where the data is indexed. The crawler will periodically return to the sites to check for any information that has changed. The frequency with which this happens is determined by the administrators of the search engine. Human-powered search engines rely on humans to submit information that is subsequently indexed and catalogued. Only information that is submitted is put into the index. In both cases, when you query a search engine to locate information, youre actually searching through the index that the search engine has created -you are not actually searching the Web. These indices are giant databases of information that is collected and stored and subsequently searched. This explains why sometimes a search on a commercial search guarantee a prominent ranking on Google, and vice versa. To make things more complicated, the algorithms used by search engines are not only closely guarded secrets, they are also constantly undergoing modification and revision. This means that the criteria to best optimize a site with must be surmised through observation, as well as trial and error and not just once, but continuously. Gimmicks less reputable SEO firms tout as the answer to better site rankings may work at best for engine, such as Yahoo! or Google, will return results that are, in fact, dead links. Since the search results are based on the index, if the index hasnt been updated since a Web page became invalid the search engine treats the page as still an active link even though it no longer is. It will remain that way until the index is updated. So why will the same search on different search engines produce different results? Part of the answer to that question is because not all indices are going to be exactly the same. It depends on what the spiders find or what the humans submitted. But more important, not every search engine uses the same algorithm to search through the indices. The algorithm is what the search engines use to determine the relevance of the information in the index to what the user is searching for. One of the elements that a search engine algorithm scans for is the frequency and location of keywords on a Web page. Those with higher frequency are typically considered more relevant. But search engine technology is becoming sophisticated in its attempt to discourage what is known keyword stuffing, or spamdexing. Another common element that algorithms analyze is the way that pages link to other pages in the Web. By analyzing how pages link to each other, an engine can both determine what a page is about (if the keywords of the linked pages are similar to the keywords on the original page) and whether that page is considered important and deserving of a boost in ranking. Just as the technology is becoming increasingly sophisticated to ignore keyword stuffing, it is also becoming more savvy to Web masters who build artificial links into their sites in order to build an artificial ranking. SEARCH ENGINE OPTIMIZATION Search engine optimization (SEO) is the process of affecting the visibility of a website or a webpage in a search engines natural or un-paid (organic) search engine results In general, the earlier (or higher ranked on the search results page), and more frequently a site appears in the search results list, the more visitors it will receive from the search engines users. SEO may target different kinds of search, including image search, local search video search, academic search news search and industry-specific vertical search engines engines. As an internet marketing strategy, SEO considers how search engines work, what people search for, the actual search terms or keywords typed into search engines and which search engines are preferred by their targeted audience. Optimizing a website may involve editing its content ,HTML and associated coding to both increase its relevance to specific keywords and to remove barriers to the indexing activities of search engines. Promoting a site to increase the number of back links or inbound links, is another SEO tactic. HOW PEOPLE INTERACT WITH SEARCH ENGINES We like to say Build for users, not search engines. When users have a bad experience at your site, when they cant accomplish a task or find what they were looking for, this often correlates with poor search engine performance. On the other hand, when users are happy with your website, a positive experience is created, both with the search engine and the site providing the information or result. What are users looking for? There are three types of search queries users generally perform: Do Transactional Queries Action queries such as buy a plane ticket or listen to a song. Know Informational Queries When a user seeks information, such as the name of the band or the best restaurant in New York City. Go Navigation Queries Search queries that seek a particular online destination, such as Facebook or the homepage of the NFL. When visitors type a query into a search box and land on your site, will they be satisfied with what they find? This is the primary question search engines try to figure out millions of times per day. The search engines primary responsibility is to serve relevant results to their users. It all starts with the words typed into a small box. KEYWORD RESEARCH It all begins with words typed into a search box. Keyword research is one of the most important, valuable, and high return activities in the search marketing field. Ranking for the right keywords can make or break your website. Through the detective work of puzzling out your markets keyword demand, you not only learn which terms and phrases to target with SEO, but also learn more about your customers as a whole. Its not always about getting visitors to your site, but about getting the right kind of visitors. The usefulness of this intelligence cannot be overstated with keyword research you can predict shifts in demand, respond to changing market conditions, and produce the products, services, and content that web searchers are already actively seeking. In the history of marketing, there has never been such a low barrier to entry in understanding the motivations of consumers in virtually every niche.

Essay --

The formula for baking soda is NaHCO3 (http://en.wikipedia.org/wiki/Sodium_bicarbonate_).The chemical formula for vinegar is CH3COOH (http://en.wikipedia.org/wiki/Acetic_acid). The chemical formula for the reaction is NaHCO3 + CH3COOH => CaCO3 + 2NaCl + H2O + CO2. The calcium atom from the calcium chloride molecule forms a new bond with the carbon trioxide form the sodium bicarbonate. This creates one of the product calcium carbonate, which is a covalent bond (https://answers.yahoo.com/question/index?qid=20070328160450AAVglRs). The two chlorine atoms left from the calcium chloride molecule is bonded with the sodium atom in the sodium bicarbonate to create sodium chloride, an ionic bond (http://hyperphysics.phy-astr.gsu.edu/hbase/molecule/nacl.html). The left over atoms are two hydrogen atoms, three oxygen atoms, and one carbon atom. The two hydrogens form the water molecule with an oxygen atom, and ionic bond (comp book). Then all that is left is the carbon and the other two oxygen atoms. These three form the CO2 that is released. Below is a picture summarizing most of this paragraph. How would you give models or examples of any reaction? Well, in terms of 3D models, you should make sure that all the atoms in the product are equal to the number atoms in the reactants when they are combined. No atom is lost or created during the reaction. The same requirements go for writing an equation, as shown in the photo above. you can also write a formula for the product. Something that you must remember is that the metal reactant always comes first. The non metal reactant comes in second, and it usually end in -ide. (http://www.deltacollege.edu/emp/preedy/Handouts/Nomenclature%20Handout.pdf) Last, but not least, the easiest way to show a r... ... when a reaction happened and how to make it happen faster, but do you know to identify the reactants and the products, and how did it bonded? in terms of acid or base, you can use a pH meter or even some pH paper. After you use them, compare the color you get to the scale that should be included. You can also look at the formula for the product to find the reactants, telling you what is in it. The elements on the periodic table are organized based on the number of electron rings and valence electrons, which determine if they will bond and with what. The element carbon has biggest number of bonds, which is four. Carbon can be covalently bonded, meaning sharing electrons with another element, like in the calcium carbonate. Carbon can also be an ionically bonded, meaning the opposite charges of non metal ions and metal ions attract, like in sodium chloride. (comp book)

Consumption and Mass Media Worksheet Essay

1. Respond to all questions with academic paragraphs of at least 50 words. State your point of view and explain it thoroughly. †¢ What is conspicuous consumption? How does conspicuous consumption influence purchasing decisions? Think about a high-priced item that you have bought or would like to buy. To what extent does conspicuous consumption affect your decision? Conspicuous consumption is the feeling of buying unnecessary expensive products and services to show off and impress the wealth of the individual. Conspicuous consumption is a tool used to get people to by name brand items and lavish items to flaunt. Conspicuous consumption influences the purchasing decisions of individuals by creating the idea that high expense items are harder to afford and the majority of people want to buy the high expense items but they cannot afford the item. Once the high expense items are purchased the individual has the power to flaunt the item to others or show off the item to people who do not have the same item or cannot afford the same item. When I purchase an item I do not let conspicuous consumption affect my d ecision to an extent. I like to purchase items that are not as popular by other individuals, particular women. When I buy clothes I like to have unique clothes that other women would not purchase because of the uniqueness. †¢ What is conspicuous leisure? Examples of conspicuous leisure are abundant on television. In what ways are leisure activities informed by social and economic class? Provide an example of a popular leisure activity. What assumptions can you make about the participants of the activity? †¢ Conspicuous leisure is the visible leisure with the intent of displaying social status and wealth of the individual. A prime example of conspicuous leisure is the television show â€Å"The Housewives of Orange County†. These women showcase the expensive items and lavish lives they live. The majority of the women do not work and they are stay at home wives and a few have their own business and make their own money. One example of a leisure activity is when the women and their families go to the Hamptons for the summer time. These individuals own a home or rent a home to spend the summer in the Hamptons. Many of these families fly to the Hamptons in their own private jet. The leisure activity explained above showcases the social and economic class of these individuals. The individuals that partake in the television show are high class citizens. The participants participating in the activity can afford to have own more than one home and these individuals can afford to spend the entire summer time in the Hamptons. These individuals use a private jet to fly to the Hampton destination. People in the high class society individuals can only afford to fly on a private jet. †¢ Define the term globalization. What effect does globalization have on popular culture? Provide an example of how American popular culture has influenced other countries, or how the United States has imported popular culture from other countries. Globalization is defined as extending, sharing, and developing of culture, communications, technology, material items, and food to other or all parts of the world. Popular culture has the power to globalize throughout the entire world. Popular culture is shared among many individuals from different parts of the world. Popular culture allows the sharing of objects and ideas. People can share information or images and people can develop their own ideas based on the shared information or images, such as fashion and clothes. Fashion is a major trend that is not only popular here in the U.S. but overseas too. Many fashion companies like Forever 21 are taking popular fashion pieces and trends from overseas, such as Paris and France and designing these trends for the American people. Forever 21 is taking European style and transcending the style to the American people at a affordable price. More and more designer stores, such as Chanel and Dior are becoming increasingly popular here in the United States. These designers are branching their company here to the U.S. because these designers are seeing how popular fashion has become and the brand name is what the American people want and will pay to have. 2. Choose an advertisement. Analyze the ad for its media message. Answer the following questions based on that ad. †¢ Who created the media message? Why? Kohl’s Department Store created the ad. The company is advertising to their customers to spend money on their products and receive a coupon for spending a certain amount of money. For every $50 dollars spent, customers get a $10 coupon. †¢ Who is the intended audience? What do you know about the intended audience—age, race, ethnicity, gender, socioeconomic background, hobbies, profession? The intended audience is geared to people who buy items in bulk and spends lots of money. This ad is intended to get people to spend as much money as they can because for every $50 dollars spend they will receive a $10 dollar coupon. If a customer spends $153 the customer will get a $30 dollar coupon that can be spent on anything in the store. The advertisement is not intended at any age or race but the ad is intended for women. Kohl’s products and the shopping experience the company focuses on is â€Å"SHE†. â€Å"She† is the working women, housewife that is on the go. â€Å"She† wants to find affordable clothing at a great price and can get in and out of the store without any inconsistencies. The ad does focus on those who can afford the products sold at Kohl’s and who is able to spend the amount advertised to receive a coupon. †¢ What type of lifestyle is presented? Is it realistic? Why or why not? The lifestyle presented is unrealistic. I work for Kohl’s and this type of advertisement is a great career move for the company but an addiction for customers. The Kohl’s cash is a mental defect that toys with customers. Customers go crazy for Kohl’s cash. The majority of customers are spending so much money to get a $10 coupon. People do not realize they have to spend money in order to get a coupon. This is unrealistic because people are spending their money on things they do not need or they are over spending. This is how people become addicted to shopping and addicted to shopping at Kohl’s. I see the same person either everyday or every other day in the store each week. The ad presents a materialistic lifestyle because people are willing to by materialistic items and spend money in order to gain from it. †¢ What is the text, written or in another form, of the message? What do you see and hear: written or spoken words, photos, drawings, logos, design, music, sounds, and so on? The coupon resembles a dollar bill. The coupon is the color green like money and had white writing on the coupon. The coupon has big bold letters stating â€Å"Kohl’s Cash† with the dates below the name of the coupon, which states when the coupon starts and when the coupon ends. †¢ What is the hidden text? What is unstated or implied in the message? The coupon states for every $50 dollars spent the customer will receive a $10 dollar coupon. The text that is hidden in the coupon does not accurately specify that if the customer goes over the $50 dollar limit the coupon will increase by $10 dollars. The unstated message for the coupon includes the tax. The customer must actually spend $53 dollars in order to receive the coupon because the coupon is only redeemable before taxes not after taxe s. †¢ What values are expressed? The coupon expresses high quality vales that Kohl’s gives to their customers. In today’s economy people cannot afford many things the way they used to including clothing. The prices of clothing, has increased and people want to save money. The coupon gives customers the expression of saving and receiving. Customers can receiving a free coupon for spending a certain amount in the store. The customer can apply the coupon to anything in the store. The customer is not limited to certain purchases when using the coupon but Kohl’s is putting their customers first and establishing a YES WE CAN environment for the customers. †¢ What groups of people are empowered in this message? What groups are disempowered? How so? Everyone willing to spend $50 dollars or more are empowered by this message. The message alone gives empowerment to customers because customers are benefiting from their spending. Those who are disempowered are the people who do not spend or do not want to spend the amount required to receive the coupon. Each individual spending the amount feels empowerment because they are able to buy anything in the store to receive the coupon and the individual can buy anything in the store when they can use the coupon. The coupon does not limit to certain items in the store. Those who do not spend the amount requested do not have an advantage where as those who do spend the requested amount will gain an advantage. †¢ What part of the story is not being told? How and where could you get more information about the untold stories? Kohl’s Cash ® will be applied prior to percent-off total purchase discounts. Kohl’s Cash ® Coupon may not be redeemed (1) on purchases of Kohl’s Cares ® cause merchandise or other charitable items; (2) to reduce customer’s Kohl’s Charge or any third party charge account balance; (3) as price adjustments on prior purchases; or (4) to purchase Gift Cards. If merchandise purchased earning a Kohl’s Cash ® Coupon is subsequently returned or price adjusted, the value of the Kohl’s Cash ® Coupon previously earned and/or the amount of the merchandise refund will be reduced to reflect any unearned value. Return value of merchandise purchased with a Kohl’s Cash ® Coupon may be subject to adjustment (Kohl’s.com) †¢ Can these messages affect how you think and feel? Why or why not? Provide examples. Yes these messages can affect how the customer feels. When the coupon is used and a percentage is used together the percentage will change due to the Kohl’s cash. I had a customer that did the math on her own prior to checking out. Once I rung the customer up she noticed that the percentage was less then what she calculated. I had to explain to her that when she used a percentage and the Kohl’s cash the percentage will decrease because of the Kohl’s cash. The customer was very upset and not satisfied. She said â€Å"Kohl’s cash is not useful to spend, because I am being cheated†. The customer was unaware of the information stated in the back. The coupon states what will happen if a percentage and the cash is used together. †¢ Can these messages affect your behavior? Why or why not? Provide examples. The message does affect my behavior because the coupon itself becomes a hassle when trying to explain to customers the rules of the coupons. Some customers accept the terms and they are okay with it once I explain and show them, but I have had customers fight me to the end and be very cruel to me because the customer failed to read the rules of how to spend the coupon. For the most part, the coupon is nice but overall customers do not realize they have to spend money to get a coupon. The coupon is not a reward for being a loyal customer or for having a Kohl’s credit card. The customer has to spend a certain amount in order to receive the coupon but they do not have to spend a certain amount to cash the coupon in. †¢ Can the messages affect the cultural values in society in general? Why or why not? Provide examples.

India After 20 Years

Draft January, 2007 INDIA’s GROWTH: PAST AND FUTURE by Shankar Acharya* * Honorary Professor and Member Board of Governors, Indian Council for Research on International Economic Relations (ICRIER) Paper for presentation at the Eighth Annual Global Development Conference of the Global Development Network, January 14-16, Beijing. 0 India’s Growth: Past and Future By Shankar Acharya1 This paper is divided into five sections. Section I briefly reviews India’s growth performance since 1950 and indicates a few salient features and turning points.Section II discusses some of the major drivers of India’s current growth momentum (which has averaged 8 percent in the last 3 years) and raised widespread expectations (at least, in India) that 8 percent plus growth has become the new norm for the Indian economy. Section III points to some of the risks and vulnerabilities that could stall the current dynamism if corrective action is not taken. Section IV appraises the co untry’s medium term growth prospects. The final section assesses some implications of India’s rise for the world economy. I Review of Growth Performance, (1950-2006)Table 1 summarizes India’s growth experience since the middle of the twentieth century. For the first thirty years, economic growth averaged a modest 3. 6 percent, with per capita growth of a meager 1. 4 percent per year. Those were the heydays of state-led, import-substituting industrialization, especially after the 1957 foreign exchange crisis and the heavy industrialization bias of the Second Five Year Plan (1956-61). While the strategy achieved some success in raising the level of resource mobilization and investment in the economy, it turned out to be hugely costly in terms of economic efficiency.The inefficiencies stemmed not just from the adoption of a statist, inward1 The author is Member, Board of Governors and Honorary Professor at Indian Council for Research on International Economic Relat ions (ICRIER). He was Chief Economic Adviser to Government of India (1993-2000). This paper draws liberally on his recent paper, â€Å"India’s Growth: Past Performance and Future Prospects†, presented at the Tokyo Club Macro Economy Conference on â€Å"India and China Rising†, December 6-7, 2006, Tokyo. 1 ooking policy stance (at a time when world trade was expanding rapidly) but also from the extremely detailed, dysfunctional and corruption-breeding controls that were imposed on industry and trade (see, for example, the classic study by Bhagwati and Desai (1970)). Table 1: Growth of GDP and Major Sectors (% per year) Year 1951/521980/81 (1) 1981/821990/91 (2) 1992/931996/97 (3) 1997/982001/02 (4) 2002/032005/06 (5) 1992/932005/06 (6) 1981/822005/06 (7) Agriculture and Allied Industry 2. 5 3. 5 4. 7 2. 0 1. 9 3. 0 3. 0 5. 3 7. 1 7. 6 4. 4 8. 0 6. 6 6. 5 Services 4. 5 6. 7 7. 6 8. 2 8. 9 . 2 7. 4 GDP 3. 6 5. 6 6. 7 5. 5 7. 0 6. 4 5. 9 GDP per capita 1. 4 3. 4 4. 6 3. 6 5. 3 4. 4 3. 8 Source: CSO . Note: Industry includes Construction. At the same time, one should not forget that the GDP growth rate of 3. 6 percent was four times greater than the 0. 9 percent growth estimated for the previous half century of British colonial rule (Table 2). Moreover the growth was reasonably sustained, with no extended periods of decline. Nor were there inflationary bouts of the kind which racked many countries in Latin America. However, growth was far below potential and much less than he 7-8 percent rates being achieved in some countries of East Asia and Latin America. Worst of all, the proportion of the Indian population below a (minimalist) poverty line actually increased from 45 to 51 percent (Table 3). Table 2: Economic Growth: Pre -independence (% per year) Year 1900-46 1900-29 1930-46 GDP 0. 9 0. 9 0. 8 Population 0. 8 0. 5 1. 3 Per Capita GDP 0. 1 0. 4 -0. 5 Source: Sivasubramonian (2000) 2 Table 3: Percentage of People Below Poverty Line, 1951-52 t o 1999-00: Official Estimates Year Rural Urban All India 1951-52 47. 4 35. 5 45. 3 1977-78 3. 1 45. 2 51. 3 1983 45. 7 40. 8 44. 5 1993-94 37. 3 32. 4 36. 0 1999-2000 26. 8 24. 1 26. 1 Source: Planning Commission, Government of India G rowth accelerated significantly in the 1980s to 5. 6 percent, entailing a more than doubling of per capita growth to 3. 4 percent a year. This acceleration was due to a number of factors, including: the early efforts at industrial and trade liberalization and tax reform dur ing the 1980s, a step- up in public investment, better agricultural performance and an increasingly expansionist (almost profligate! ) fiscal policy.Fiscal controls weakened and deficits mounted and spilled over to the external sector, requiring growing recourse to external borrowing on commercial terms. Against a background of a low export/GDP ratio, rising trade and current account deficits and a deteriorating external debt profile, the 1990 Gulf War and consequent oil price spik e tipped India’s balance of payments into crisis in 1990/91. Although the policy reforms of the 1980s were modest in comparison to those undertaken in the ensuing decade, their productivity â€Å"bang for the buck† seems to have been high (see Table 4) 2 .Perhaps this 2 Several different factor productivity studies support this conclusion, including: Acharya-Ahluwalia Krishna-Patnaik (2003), Bosworth and Collins (2003) and Virmani (2004). 3 w as a case of modest improvements in a highly distorted policy environment yielding significant gains. Table 4: Growth of GDP, Total Factor Input and Total Factor Productivity (% per year) 1950/511966/67 3. 8 GDP 1967/68 – 1981/82– 1980/81 1990/91 3. 4 5. 3 1991/92 – 1999/2000 6. 5 Total Factor Input (TFI) 2. 4 2. 7 3. 3 3. 9 Total Factor Productivity (TFP) . 4 0. 7 2. 0 2. 6 Proportion of Growth Explained by TFP (%) 37. 6 20. 8 37. 7 39. 7 Source: Acharya, Ahluwalia, Krishna and Patnaik (2003). Note: For each sub-period, GDP, TFI and TFP are trend growth rates. The new Congress government of June 1991, with Manmohan Singh as finance minister, undertook emergency measures to restore external and domestic confidence in the economy and its management. 3 The rupee was devalued, the fiscal deficit was cut and special balance of payments financing mobilized from the IMF and the World Bank.Even more importantly, the government seized the opportunity offered by the crisis to launch an array of long overdue and wide-ranging economic reforms. They encompassed external sector liberalization, deregulation of industry, reforms of taxation and the financial sector and a more commercial approach to the public sector (see Table 5 for a summary of key reforms in 1991-93). 4 3 There has been a great deal written on India’s economic reforms and the consequent performance of the economy, including Acharya (2002a and 2004), Ahluwa lia (2002), Kelkar (2004), Kochhar et. l (2006), Panagariya ( 2004a and 2006) and Virmani (2004). There is a tendency to view the post-1991 economic performance as a single unified experience. I prefer the more nuanced and disaggregated view outlined here. 4 As I have pointed out elsewhere (Acharya, 2006a), these reforms are better characterized as â€Å"medium bang† than â€Å"gradualist† (as by Ahluwalia, 2002). 4 Table 5: Main Economic Reforms of 1991-93 Fiscal †¢ Reduction of the fiscal deficit. †¢ Launching of reform of major tax reforms. External Sector †¢ Devaluation and transition to a Market-determined Exchange Rate. Phased reduction of import licensing (qua ntitative restrictions). †¢ Phased reduction of peak custom duties. †¢ Policies to encourage direct and portfolio foreign investment. †¢ Monitoring and controls over external borrowing, especially short term. †¢ Build-up of foreign exchange reserves. †¢ Amendment of FERA to reduce restrictions on firms. Industry †¢ Virtual abolitio n of industrial licensing. †¢ Abolition of separate permission needed by â€Å"MRTP houses†. †¢ Sharp reduction of industries â€Å"reserved† for the public sector. †¢ Freer access to foreign technology.Agriculture †¢ More remunerative procurement prices for cereals. †¢ Reduction in protection to the manufacturing sector. Financial Sector †¢ Phasing in of Basle prudential norms. †¢ Reduction of reserve requirements for banks (CRR and SLR). †¢ Gradual freeing up of interest rates. †¢ Legislative empowerment of SEBI. †¢ Establishment of the National Stock Exchange. †¢ Abolition of government control over capital issues. Public Sector †¢ Disinvestment programme begun. †¢ Greater autonomy / accountability for public enterprises. 5The economy responded swiftly and positively to these reforms. After virtual stagnation in 1991/92, GDP growth surged in the next five years to clock a record 5-year average of 6. 7 percent. It is noteworthy that in this high growth Eighth Plan period all major sectors (agriculture, industry, services) grew noticeably faster than in the pre-crisis decade. The acceleration in the growth of agricultural value added is particularly interesting in the light of oft-repeated criticism that the economic reforms of the early nineties neglected the agricultural sector.The factors which explain this remarkable and broad-based growth surge in the period 1992-97 appear to include: †¢ †¢ †¢ †¢ †¢ †¢ †¢ Productivity gains resulting from the deregulation of trade, industry and finance, especially in the sectors of industry and some services; The surge in export growth at about 20 percent per year (in dollar terms) for three successive years beginning 1993-94, attributable to the substantial devaluation in real effective terms in the early nineties and a freer policy regime for industry, foreign trade and payments;The investment boom of 1993- 96 which exerted expansionary effects on both supply and demand, especially in industry. The investment boom itself was probably driven by a combination of factors including the unleashing of ‘animal spirits’ by economic reforms, the swift loosening of the foreign exchange bottleneck, confidence in broadly consistent governmental policy signals and easier availability of investible funds (both through borrowing and new equity issues);The partial success in fiscal consolidation, which kept a check on government borrowings and facilitated expansion of aggregate savings and investments; Improvement in the terms of trade for agriculture resulting from a combination of higher procurement prices for important crops and reduction in trade protection for manufactures; Availability of capacity in key infrastructure sectors, notably power; A buoyant world economy which supported expansion of foreign trade and private capital inflows.The momentum of growth slowed noticeably in the Ninth Plan period, 1997-2002, to an average of 5. 5 percent, compared to the 6. 7 percent achieved in the previous five years. Among the factors which contributed to this deceleration were: the significant worsening of the fiscal deficits (mainly due to large public pay increases following the Fifth Pay Commission) and the associated decline in public savings, the slackening of economic reforms after 1995 as coalition governance became the norm, a significant slowdown in 6 gricultural growth for a variety of reasons, a marked downswing in the industrial cycle and an increasingly unsupportive international economic environment (including the Asian financial crisis of 1997-98, rising energy prices and the global recession of 2001). Indeed, India’s economic growth in 1997-2002 might have been even weaker but for the unexpected and somewhat inexplicable strength of services sector growth, which clocked an average of 8. 2 percent, despite industrial growth of only 4. 4 percent. T he services sector accounted for almost 70 percent of all growth in this period. Economic reforms picked up pace in 2000-04, fiscal deficits trended down after 2002 and the world economy rebounded strongly in 2002-06. These factors supported a broadbased upswing in Indian industrial output and investment from the second half of 2002. Growth of industrial valued added surged to 8 percent in 2002-06. With continued strong growth of services (at nearly 9 percent), GDP growth climbed to average 7 percent, despite continued sluggishness of agriculture.In the three years, 2003-06 overall economic growth has averaged over 8 percent and the outlook for 2006/7 is equally bright. This latest economic surge has raised the interesting issue of whether India’s trend growth rate has accelerated to 8 percent (or higher) from its previous level of around 6 percent. The ensuing sections of this paper explore this question. II. Main drivers of Recent Economic Growth What are some of the main i ngredients of the recent surge in economic growth? I would suggest the following seven major elements: ) The momentum of a quarter of a century of strong economic growth; 2) A much more open economy (to external trade and investment); 3) A growing â€Å"middle class† fuelling domestic consumption; 4) The â€Å"demographic dividends† of a young population; 5 Acharya (2002a and 2003) noted this unusual phenomenon and raised questions about both the quality of the data and the durability of such sharply divergent growth rates of industry and services. More recently, similar doubts have been expressed by Bosworth-Collins -Virmani (2006). 7 5) Strong companies in a modernized capital market; 6) Some recent economic reforms. ) A supportive international economic environment. Let me elaborate briefly on each of these factors. The Momentum of Growth The last thirty years’ experience suggests that very few developing countries have sustained decent per capita growth for two decades or more (Acharya, 2006b). Specifically, out of 117 developing countries with population over half a million, only 12 countries achieved per capita growth of more than 3 percent per year in 1980-2002, with at least 2 percent growth in each decade of the eighties and nineties. These twelve countries were: China (8. 2), Vietnam (4. 6), South Korea (6. 1), Chile (3. ), Mauritius (4. 4), Malaysia (3. 4), India (3. 6), Thailand (4. 6), Bhutan (4. 3), Sri Lanka (3. 1), Botswana (4. 7) and Indonesia (3. 5). (The number falls to 9 if we specify a minimum population of 3 million). Nine of these 12 countries are in Asia and, fortunately, they include the three most populous: China, India and Indonesia. (See Table 6). If we take the full 25 years (1981-2006), India’s per capita growth has averaged 3. 8 percent or almost 4 percent per year. 8 Table 6: Good Growth Performers of Recent Decades Average Annual Per Capita Growth (%) Country 1980-2002 1990s 1980s Population in 2000 (Millions) 1. China . 2 8. 6 7. 7 1262 2. Vietnam 4. 6 5. 7 1. 9 78 3. South Korea 6. 1 5. 0 7. 4 47 4. Chile 3. 3 4. 3 2. 1 15 5. Mauritius 4. 4 4. 1 4. 9 1 6. Malaysia 3. 4 3. 7 3. 1 23 7. India 3. 6 3. 6 3. 6 1016 8. Thailand 4. 6 3. 4 6. 0 61 9. Bhutan 4. 3 3. 4 5. 4 1 10. Sri Lanka 3. 1 3. 1 3. 1 18 11. Botswana 4. 7 2. 7 7. 2 2 12. Indonesia 3. 5 2. 6 4. 4 206 Source: World Bank (2005) Sustained improvements in standards of living of this order embody their own growthreinforcing elements. People come to think more positively about the future and base their savings, investment and production decisions on an expectation of continued growth.Electorates in India’s democracy come to expect development and hold government performance to higher standards, despite disappointments. Companies think big when they invest. And so on. A More Open Economy The Indian economy in 2006 is far more open to external trade, investment and technology than it was fifteen years ago. 6 Table 7 p resents some key comparative 6 The story of India’s external liberalization may be found in several places, including Acharya (2002b) and Panagariya ( 2004b). 9 indicators. Peak import duties on manufactures have come down from over 200% to 12. 5%, a remarkable reduction by any standards.The regime of tight, detailed and discretionary import controls has been almost completely dismantled. The exchange rate was devalued and made market-responsive (1991-3). The policies towards foreign portfolio and direct investment have been greatly liberalized. As a result, the ratio of traded goods to GDP has more than doubled from less than 15 percent to nearly 33 percent. Because of the sustained boom in software exports and worker remittances, the ratio of current receipts (goods exports plus gross invisibles) has more than tripled from 8 percent to over 24 percent of GDP.Foreign investment has risen from negligible levels to US $ 20 billion in 2005/6. Table 7: Towards A More Open Econom y 1990/91 2005/06 200% plus 12. 5% Tight, detailed Almost gone Trade (goods) / GDP Ratio (%) 14. 6 32. 7 Current Receipts / GDP (%) 8. 0 24. 5 Software Exports ($ billion) Nil 23. 6 Worker Remittances ($ billion) 2. 1 24. 6 Foreign Investment ($ billion) Negligible 20. 2 2. 2 145. 1 35. 3 10. 2 Peak Import Duties (manufacturers) I mport Controls Foreign Currency Reserves ($ billion, March 31) Debt Service Ratio (%) Source: RBI, Annual Report, 2005 /06, except for first two rows.After initial periods of sometimes painful adjustment in the 1990s, Indian industry has thrived in the more open and competitive environment. The explosion in software ITenabled service exports is well-known, having risen from nil in 1991 to $ 24 billion in 2005/6. Anecdotal evidence suggests that small-scale units have benefited greatly from 10 the much freer access to traded raw materials, components and designs. Perhaps most important, the old mindset of â€Å"foreign exchange scarcity† (and the wel ter of bad economic policies it spawned) has been effectively banished.Interestingly, the â€Å"opening up† has also strengthened the prudential yardsticks of foreign exchange reserves and debt service ratios. Rise of strong companies in a modernized capital market The 1990s ushered in far-reaching reforms in India’s capital markets. The Securities and Exchange Board of India was statutorily empowered in 1992 and quickly moved to improve standards of disclosure and transparency. The new electronic-tradebased National Stock Exchange was established in 1993 and set high technical and governance standards, which soon had to be emulated by the much older (and, sometimes scam-hit) Bombay Stock Exchange.Depositories legislation was enacted and soon paperless trading became the norm. Brokers were encouraged to corporatize. Futures markets were nurtured. These and other reforms transformed Indian capital markets into one of the best in the developing world. The combination of a modernizing capital market, an increasingly liberal and competitive environment for investment, trade and production, a wealth of entrepreneurial talent and sustained economic growth has helped the rise of strong new companies and supported the expansion of the more agile and aggressive among the established firms.By way of example, Airtel, the leading private telecom, went from nothing to a multi-billion dollar company in a decade. The same was true for the leading domestic airline, Jet and the IT icons like Infosys, Wipro, TCSand HCL. Old pharma companies, like Ranbaxy, transformed themselves. New media companies like Zee and NDTV bloomed. Established corporates houses restructured and flourished (such as some Tata companies, Reliance, Bajaj, Mahindra and Hero Honda) or saw their market shares decline.In recent years quite a few Indian companies have expanded through overseas investments and acquisitions, facilitated by direct investments abroad averaging $1. 5 to $ 2 billion in the past five years. The recent bid for Corus by Tata Steel is a well-publicized example. 11 Aggregate financial data also point to the strength and expansion of India’s corporate sector in recent years. The market capitalization of companies listed on the Bombay Stock Exchange rose nearly 14-fold from $ 50 billion in 1990/91 to $ 680 billion in 2005/6 (Table 8).In the last five years, the growth of profits has outpaced the growth of sales of private corporates, indicating rising profit margins. With falling interest rates and growing recourse to internal funding, the share of interest outgo in gross profits dropped sharply from above 50 percent in the late 1990s to 15 percent in 2005/6 (Reserve Bank, 2006, Box 1. 7). Unsurprisingly, data for the top 1000 listed companies showed net profits as percent of net sales rising from 4. 5 % in 2001/2 to 8. 9 % in 2004/5 (Business Standard, 2006). Table 8: Rising Middle Class 1990/91 Cars + UVs sold # Two Wheelers sold #Telephone [em ail  protected] (million) 15 million 100 million $50 billion $680 billion 205 thousand People in households with income (Rs. 2,00,000 – 10,00,000 OR PPP $20,000- $1,00,000 approximately)a Bombay Stock Exchange Market Capitalisation* 2005/06 1319 thousand 1800 thousand 7570 thousand 5 125$ a Based on data from NCAER (2005) * RBI, Handbook of Statistics on the Indian Economy, 2005-06 # Business Beacon, CMIE and Monthly Review of the Indian Economy, CMIE, October 2006 @ Business Beacon CMIE and Economic Survey, 2005-06 $ December 2005 A Growing Middle Class In the mid-1990s, shortly after the major economic reforms of 1991-4, there as premature exuberance about India’s rising middle class and their acquisitive aspirations. Today there is a much firmer basis for emphasizing the importance of the growing middle class in transforming consumption, production and investment in the Indian economy. Table 8 provides a few indicators. Based on surveys by the NCAER, about 100 mil lion people now live in households with annual incomes between Rs. 200,000 and Rs 1 12 million (approximately PPP$ 20,000 to 100,000), compared to about 15 million in 1990/91. With a lower defining threshold, the size of the middle class would be greater.For example, if the middle class cut-off is defined as the â€Å"non-poor† by standards of developed economies, then Bhalla (2007) estimates that 34 percent of India ’s population was â€Å"middle class† in 2005 compared to about 10 percent in 1990. Purchases of iconic middle class consumption items have certainly soared in the last 15 years (Table 8). Annual sales of cars (including multi- utility vehicles) have risen more than six times to 1. 3 million in 2005/6. Two wheeler sales have increased mo re than four times to 7. 6 million in 2005/6. In 1990/91 India had just 5 million telephone connections (all fixed).By the end of 2005 the number was 125 million (about two-thirds were mobile connections). Indeed, i n October 2006 the new mobile connections were close to 7 million, more than the total of phone connections fifteen years ago! The Demographic Dividend It has become commonplace to emphasize the growth potential of India’s young population and declining dependency ratio. According to most population projections the share of working age population in total population will continue to rise for the next 30 years or so, long after the decline has set in other major countries like China, USA, Western Europe and Japan (Table 9).These demographics point to a large potential for higher growth through augmented supply of labour and savings. Indeed, these trends have already been at work over the 15 years or so, helping to raise India’s household savings from around 15-16 percent of GDP in the late 1980s to 22-24 percent in recent years. 7 7 This could be an important part of the explanation to the puzzle: How does India sustain high growth despite aggregate fiscal deficits abov e 7 percent of GDP over the last twenty years? 13 Table 9: Share of Working Population (15-59 yrs) Country 1950 1975 2000 2025 2050 India 55. 5 54. 0 58. 9 64. 3 59. 7 China 59. 53. 6 65. 0 62. 1 53. 8 Japan 56. 9 64. 0 62. 1 52. 8 45. 2 US 60. 5 60. 0 62. 1 56. 6 54. 6 Western Europe 61. 7 58. 1 61. 3 54. 8 50. 4 Source: http://www. un. org/esa/population/publications/worldageing19502050/countriesorareas. htm Some Recent Policies As noted above economic reforms slowed after 1995 and then revived to some extent in the period 2000-04. Also, real interest rates declined worldwide and in India too. In India this may have been helped by renewed efforts to reduce burgeoning fiscal deficits, including through enactment of the Fiscal Responsibility and Budget Management Act (2003) at the central level.The fiscal position of the States also improved from the dire straits plumbed following the Fifth Pay Commission. The states too adopted fiscal responsibility laws following the recommendatio ns (and conditional debt write-offs) of the Twelfth Finance Commission (Government of India, 2004). Furthermore, tax revenues at both levels of government were buoyed by resurgent economic (especially industrial) growth after 2002/3. The net result was a decline in the gross fiscal deficit from almost 10 percent of GDP in 2001/2 to 7. percent in 2004/5 and an even larger decline in the revenue deficit from 7 to 3. 7 percent of GDP (Table 10). This was the single most important factor explaining the increase in aggregate savings from around 24 percent of GDP in 2001/2 to 29 percent in 2004/5, which, in turn, helped finance the current investment boom. 14 Table 10: Deficits, Savings and Investment (as % of GDP) Year 1995-96 Gross Fiscal Deficit 2001-02 2004-05 6. 5 9. 9 7. 5 3. 2 7. 0 3. 7 25. 1 (-2. 0) 26. 9 23. 6 (-6. 0) 23. 0 29. 1 (-2. 7) 30. 1 (Centre and States) Revenue Deficit (Centre and States)Gross Domestic Savings (of which Government) Gross Domestic Investment Source: RBI, Handbook of Statistics on the Indian Economy, 2005-06 and CSO website †¢ †¢ (http://mospi. nic. in/mospi_cso_rept_pubn. htm ) (http://mospi. nic. in/mospi_press_releases. htm ) International Economic Environment Despite the war in Iraq and the high oil prices of recent years the world economy has grown at almost 5 percent over the last four years, propelled by strong growth in US and China and some recovery in Japan and Europe. World trade in goods and services has expanded rapidly.This favorable environment has helped rapid growth of exports (of goods and services) from India, which, in turn, has been a significant driver of economic growth in this recent period. 8 III Risks to Future Strong Growth There are some well-known risks or constraints to the sustenance of the 8 percent growth enjoyed by India since 2003. These include: 1) Renewed fiscal stress from populist policies; 8 Panagariya (2006) emphasizes this point. 15 2) Infrastructure bottlenecks; 3) Labour market r igidities; 4) Weak performance of agriculture; 5) Pace of economic reforms; ) Weaknesses in human resource development programmes; 7) The international economic environment. Each of these merit brief elaboration. Populism and Renewed Fiscal Stress The recent progress in fiscal consolidation, noted above, is real but modest. The overall fiscal deficit remains high at 7. 5 percent of GDP in 2005/6, as does the government debt to GDP ratio at 80 percent (compared to about 60 percent in 1995/6). While the fiscal responsibility laws enacted by central and state governments (22 out of 28 states have passed such laws so far) are promising, they are not immune to populist pressures.Especially since the advent of the UPA government in 2004, populist expenditure programmes, such as the National Rural Employment Guarantee scheme, have gained fresh momentum. The Sixth Pay Commission has been constituted and is expected to submit its report by mid-2008, with governmental action likely before the next general election. The possibility of significant public pay increases is obviously high. On the revenue side, the state level VATs have contributed to revenue buoyancy. But the recent scheme for Special Economic Zones is fraught with unduly generous tax concessions.So the prospects for fiscal consolidation are mixed, at best. Infrastructure Bottlenecks India’s infrastructure problems are legendary and also reflect failures in public sector performance and governance. A recent appraisal (World Bank, 2006) points out that â€Å"the average manufacturer loses 8. 4 percent in sales annua lly on account of power 16 outages†, over 60 percent of Indian manufacturing firms own generator sets (compared to 27 percent in China and 17 percent in Brazil) and India’s combined real cost of power is almost 40 percent higher than China’s. The quantity and quality of roads is also a serious bottleneck.While there has been some progress in recent years with national h ighway development, the state and rural road networks are woefully inadequate, especially in poorer states (Figure 1). Urban infrastructure (especially water and sewerage) is another major constraint for rapid industrial development and urbanization (Figure 2). The successful example of rapid telecom development is very promising. But unlike telecom, the sectors of power, roads and urban infrastructure are burdened by long histories of a subsidy culture and dual (centre and states) constitutional responsibilities.Unless the various infrastructure constraints are addressed swiftly and effectively, it is difficult to see how 8 percent (or higher) economic growth can be sustained. Fig 1:Percentage of habitations not connected by roads, by Indian state Haryana Kerala Andhra Pradesh Punjab 0% 3% 4% 7% Karnataka 8% Tamil Nadu 8% Maharashtra Gujarat Uttar Pradesh Rajasthan 12% 23% 43% 51% Bihar 58% Orissa 58% Jharkhand Madhya Pradesh West Bengal 59% 62% 69% Chattisgarh 82% Source: Ministry of Rural Development, Government of India, as cited in World Bank (2006). 17 Fig 2: Percentage of the population with access to sewerage facilities, by Indian stateRajasthan 8 Orissa 9 Chattisgarh 10 Madhya Pradesh 10 Andhra Pradesh 15 West Bengal 17 Tamil Nadu 29 Karnataka 33 Uttar Pradesh 37 Uttaranchal 37 Maharashtra 49 Gujarat 63 0 10 20 30 40 50 60 70 Source: Central Public Health and Environmental Engineering Organization, 2000, as cited in World Bank (2006). Labour Market Rigidities According to official data, India’s non-agricultural employment in the private organized (units employing more than 10 workers) sector has stagnated below 9 million for over 20 years, although the labour force has grown to exceed 400 million!A major cause has been India’s complex and rigid labour laws, which hugely discourage fresh employment while protecting those with organized sector jobs. 9 Investment climate surveys by the World Bank indicate that India has some of the most res trictive labour laws in the world, which, in effect convert labour (in organized units) into a fixed factor of production (lay-offs are extremely difficult) and thereby discourage fresh employment in the organized sector while promoting more â€Å"casualization† and insecurity among the 9The skill and capital-intensive pattern of development of India’s modern industrial and services sectors (despite the endowment of abundant unskilled labour) has been noted by many analysts, including Kochhar et. al. (2006), Panagariya (2006) and World Bank (2006). All of them point to restrictive labour laws as a major culprit. 18 93 percent of workers in the unorganized sector. The laws are not just rigid but also numerous (â€Å"a typical firm in Maharashtra has to deal with 28 different acts pertaining to labor†, World Bank, 2006).Without significant reform of existing labour laws, India’s cheap labour advantages remain hugely underutilized. Looking to the future, the challenge will increase as the â€Å"demographic dividend† brings further large increases in the labour force. In fact, as I have pointed out elsewhere (Acharya, 2004), the economic and political challenge is far greater than normally appreciated because the bulk of the demographic bulge will occur (in the next few decades) in the poor, slow-growing and populous states of central and eastern India (notably, Uttar Pradesh, Bihar, Orissa and Madhya Pradesh).Weak Agricultural Performance Since 1996/97 the growth of agriculture has dropped to barely 2 percent, compared to earlier trend rate ranging between 2. 5- 3. 0 percent. The reasons are many and include declining public investment by cash-strapped states, grossly inadequate maintenance of irrigation assets, f lling water tables, inadequate rural road networks, a unresponsive research and extension services, soil damage from excessive urea use (encouraged by high subsidies), weak credit delivery and a distorted incentive str ucture which impedes diversification away from food grains.Tackling these problems and revitalising agriculture will take time, money, understanding and political will. It will also require much greater investments in (and maintenance of) rural infrastructure of irrigation, roads, soil conservation, etc. and reinvigoration of the present systems of agricultural research and extension. While the central government can play a significant role in revamping systems, the main responsibility for strengthening rural infrastructure lies with the states. However, their financial and administrative capabilities have weakened over time. The share of agriculture in GDP has declined to hardly 20 percent.But agriculture is still the principal occupation of nearly 60 percent of the labour force. Thus better performance of this sector is essential for poverty alleviation and containment of rising regional and income inequalities. 19 Pace of Economic Reforms There is little doubt that economic refor ms have slowed since the UPA government assumed office in May 2004 10 . The privatization programme has been halted, although Government remains the dominant owner in banking, energy and transport and the usual ills of public ownership afflict the performance of many enterprises in these key sectors.The legislative proposals of the previous government to reduce government ownership in public sector banks to 33 percent have lapsed and not been renewed. There has been some revival of interest rate controls and directed credit. Follow-up action on the reformist new Electricity Act (2003) passed by the NDA government has been slow. The pricing of petroleum products has become more politically administered than before. Education policy has focused on introducing caste-based reservations in institutions of higher education. Introduction of such reservations in private sector employment are also being considered.Reform of labour laws remains stalled. There has been little forward progress in reform of agriculture policies. Indeed, the wonder is that the economy’s growth momentum has remained so strong despite the stalling of economic reforms. If the growth dividends of econo mic reforms occur with a lag, then the paucity of reforms in the period 2004-06 may take their toll in the years ahead. Weak Human Resource Policies The long-run performance of the Indian economy must surely depend on successful policies and programmes f r education, skill-development and health service o rovision. Yet the government- led programmes in these sectors suffer from very serious weaknesses and lack of reform impetus. For example, World Bank (2006) cites a number of surveys which show that less than half of government teachers and health workers are actually to be found in schools and clinics they are serving (the situation is typically worse in poorer states) . Even though school enrolment rates have climbed over time, the actual cognitive skill acquired in schools (even simple reading and arithmetic) is still very 10 For a recent review see Acharya (2006c). 0 low (Pratham, 2006). In health, a survey shows that medics in primary health clinics in Delhi had a greater than 50 percent chance of prescribing a harmful therapy for specified, common ailments (Das and Hammer, 2004a and 2004b). The competence of these medics was found to be less than comparably situated counterparts in Tanzania and substantially worse than counterparts in Indonesia. Even in higher education, an area of supposed competence, studies point to enormous problems of quality, quantity and relevance (see, for example, Aggarwal, 2006).Quite clearly, the current portfolio of policies and programmes in these critical sectors need urgent improvement if India is to retain her competitive edge in an increasingly globalized, knowledge-based, world economy. International Economic Environment The latter half of 2006 has witnessed a distinct slowing in the growth of the US economy, still the single most potent locomotive of global growth. The Doha Round of multilateral trade liberalization remains mired in limbo. Oil prices, though off their peaks, remain high with little prospect of falling below $50 a barrel.The chances of some slackening in the growth of world output and trade are clearly rising. Just as the Indian economy has benefited from strong global expansion in the last four years, so it may expect to bear some downside risks from slower world growth in the years ahead. IV Medium Term Growth Prospects Since 2003/4 there have been quite a few studies projecting sustained, high growth of the Indian economy in the long-run, including the Goldman Sachs â€Å"BRICs† report (Wilson-Purushothaman, 2003), Rodrik-Subramanian (2004) and Kelkar (2004).Their specific projections and time-periods differ: Goldman Sachs foresaw near 6 percent growth for 50 years; Rodrik-Subramanian projected a minimum of 7 percent for the next 20 years and Kelkar was even more optimistic wi th his growth expectation of 10 percent. 11 More recently, with a three-year 8 percent average already achieved and the 11 See Acharya (2004) for a critical assessment of these bullish growth expectations. 21 current year likely to register a similar rate, the Government’s Planning Commission (2006) has outlined GDP growth projections for 2007/8-2011/12 of 8 to 9 percent.Bhalla (2007, forthcoming) goes further and foresees 10 percent growth as almost inevitable. Most probably, the majority of serious economists in India would today expect economic growth in the medium term (say, 2007-12) to average at least 8 percent. Such optimism is not wholly misplaced. It is based on the continuing strength of the positive factors outlined in section II above, especially globalization and â€Å"catch-up†, the demographic dividends, the rising middle class, a vibrant entrepreneurial culture, positive expectations of future economic reforms and a generally benign international econom ic environment.The optimists are not blind to the risks and threats outlined in section III. They simply expect the growth-enhancing tendencies to prevail or, more subtly, for the dynamics of growth to generate solutions to constraints such as infrastructure and education. Figure 3 provides encouragement to the bullish outlook. 22 Figure 3: India's GDP Growth 8 7 Percentage 6 5 4 3 2 1 2006-07 2003-04 2000-01 1997-98 1994-95 1991-92 1988-89 1985-86 1982-83 1979-80 1976-77 1973-74 1970-71 1967-68 1964-65 1961-62 1958-59 1955-56 0 Year Rolling Average (5 year)In my view, the downside factors outlined in section III, should carry more weight in assessing India’s medium term growth prospects. There is a good chance that the currently bullish view of growth expectations is overly influenced by the recent past (2003 onwards), a period of strong cyclical upswing in both the global economy and Indian industry. The strength of the cycle could abate in the next couple of years and Indi a’s growth could revert to a trend rate in the range of 6 to 7 percent, perhaps closer to the higher figure.Even then, under this â€Å"pessimistic† scenario, annual per capita growth would be at a historical peak for India (Table 11). If this is â€Å"pessimism†, then I plead guilty to the charge (though it does place me among a small minority of Indian economists today)! 23 Table 11: Medium Term Growth Expectations 1992/3 –2005/6 2002/3 -2006/7 2007/8 – 2011 /12 â€Å"Optimist† â€Å"Pessimist† GDP % 6. 4 7. 2 * 8 – 10 6. 5 – 7. 0 GDP per capita (%) 4. 4 5. 5 6. 5 – 8. 5 5 – 5. 5 * Assuming Reserve Bank projection of 8. percent GDP growth for 2006/7 Perhaps the most noteworthy point is that medium- term growth expectations for India are so buoyant that the range between optimists and pessimists is placed so high, within a fairly narrow band of about 7 to 9 percent. Only time will tell who is closer to bei ng right. V Some Implications of India’s Rise India’s growth at an average rate of almost 6 percent a year over the past quarter of a century (with per capita growth of nearly 4 percent a year) is both remarkable and commendable.Certainly, back in 1980, there was almost no respectable scholar or institution predicting such sustained development of this poverty-ridden, populous country. At the same time, the prevailing fashion of bracketing India’s rise with China’s exceptionally dynamic development under rubrics like â€Å"China and India Rising† may mask more than it reveals. If India’s development in the last 25 years has been good, China’s has been extraordinary. Furthermore, while India has been a gradual â€Å"globalizer†, China’s surging development has been far more intensively based on global trade and capital flows.As a consequence, the global economic impact of China’s rise has been much more dramatic in terms of the usual metrics of international economic relations: trade, capital flows and energy. A glance at Table 12 illustrates this obvious point. The comparison of columns 5 and 6 of the table is especially instructive. It highlights both the 24 dramatic increase in China’s engagement with the world economy over the five years 2000 to 2005, as well as the much milder rise in Ind ia’s international economic integration. For example, China’s goods exports increased by an amount which was five times the level of India’s total goods exports in 2005.Similarly, the increase in oil consumption in China was almost equal to India’s total oil consumption in 2005. Table12: China and India: Global Impact China India Increment (2000-05) 2000 (1) 2005 (2) 2000 (3) 2005 (4) China (5) India (6) 249. 1 762. 4 45. 5* 104. 7* 513. 3 59. 2 Share of World Exports (%)e 3. 9 7. 3 0. 7 0. 9 3. 4 0. 2 Service Exports ($ billion) a,b 30. 4 74. 4 16. 2* 60. 6* 44 44. 4 Current Account Balance ($ billion) a,b 20. 5 160. 8 -2. 7* -10. 6* 140. 3 -7. 6 Foreign Exchange Reserves ($ billion) a 165. 6 818. 9 37. 2 131. 0 653. 3 93. 8FDI inflow ($ billion)c 30. 1# 72. 4 1. 7# 6. 6 42. 3 4. 9 FDI stock (Inward, $ billion) c 193. 3 317. 9 17. 5 45. 3 124. 6 27. 8 Oil Consumption (million tonnes)d 223. 6 327. 3 106. 1 115. 7 103. 7 9. 6 Primary Energy Consumption (million tonnes oil equivalent) d 966. 7 1554. 0 320. 4 387. 3 587. 3 66. 9 Merchandise Exports ($ billion) a,b Note: * Data for India refer to fiscal year 2000-01 and 2005-06 # 1990-2000 (Annual Average) Sources: a International Financial Statistics, December 2006 (http://ifs. apdi. net/imf/) b RBI, Handbook of Statistics on the Indian