American Export Trade Business Research Paper Example | Topics and Well Written Essays - 2500 words

American Export Trade Business - Research Paper Example Somewhere in the range of 1992 and 2013, normal fares by the United States is assessed to be US $103197.71 million and the most extreme level in these two decades has reached in December 2012 at US $188686.00 million (â€Å"United States exports†). US essential fare things are capital merchandise, mechanical supplies, food and drinks, car vehicles, motors and vehicle parts; cutting edge fabricating products stays one of the most significant classes of fares. Be that as it may, in the twenty first century US began to lose relative favorable position on assembling of such products. This paper targets exploring the stake of current US cutting edge exchange shortfall and how an improvement the exchange condition would assist with improving expectations for everyday comforts in the US economy. US send out exchange The Department of Commerce’s U.S. Registration Bureau and the Bureau of Economic Analysis discharged their yearly report of global exchange of the US in merchandis e and enterprises for the year 2012 in December that year. The report uncovers that fares of wares and administrations by the nation expanded by 2.1 percent in 2012 since the long stretch of November in 2012 and arrived at a record figure of $2.20 trillion. The exchange shortfall US diminished since the country’s imports have fallen by 2.7 percent during this period (â€Å"U.S. send out reality sheet†). Figure: Exports of United States between 2011 - 2013 (Source: â€Å"United States exports†) Exports have been a significant piece of the U.S. Gross domestic product and in 2012 the portion of fares in GDP was 13.9 percent. This offer has improved in 2011 from 2008 (12.9 percent) and has stayed consistent since 2011 (â€Å"U.S. trade certainty sheet†). Capital merchandise structure the biggest class of fare wares for the US. In 2012, this class of fares was worth $526.7 billion. The main assembling segment for send out wares has been named as the â€Å"mot or vehicles and parts sector† (â€Å"U.S. send out truth sheet†). High-innovation sends out The assembling area in the US contributes an enormous segment of the country’s GDP that different segments and has been a driver of financial development in the nation since 1947. This part is exceptionally engaged in universal exchange than different divisions. The assembling division fortifies the development procedure by getting mechanical advancement in different businesses. Creation of high-innovation items require high force of R&D. Businesses that produce innovative items in the US are aviation, pharmaceuticals, electrical apparatus, PCs and logical instruments (â€Å"High-innovation sends out (flow US$)†). The US made merchandise represent almost 35 percent of the all out worth of high innovation items exchanged the worldwide market. Till 2008 US delighted in high exchange surplus attributable to high income salary from fare of cutting edge made products and sovereignties earned from the offer of specialized expertise. 57 percent of the country’s sends out were made products. US outpaced its opponent nations in the field of mechanical examination and modern turn of events. Headway in innovation has bolster the makers in the US

Family Heritage Paper Essay Example For Students

Family Heritage Paper Essay All settlers experience a variety of changes while having a similar encounter while moving ceaselessly from their home to a totally different nation. Individuals move to the United States from every single diverse piece of the world, regardless of whether its from Japan, India, Russia or even little nations like Armenia. I chose to do the meeting about my mom since she has had an unpleasant excursion making a trip starting with one nation then onto the next. My mom was brought up in Yerevan, the capital of Armenia. She cherished her usual range of familiarity since her entire family was in a single city. She had graduated with a bachelor’s certificate in Economics and was working at my grandfather’s processing plant as a collaborator. At the point when my mom met my dad, he concluded that they should move together to Moscow, Russia. My mother needed to abandon her folks and her family, to begin her very own group. My mom brought forth me in Moscow, when she was twenty three years of age. My father’s side of the family moved to the United States directly before I was conceived and because of certain archives issues, they couldn't visit us for a long time. In 2004, when I was only twelve years of age, my granddad that lived in Los Angeles was determined to have malignancy and sadly had died. My dad went to promptly purchase a ticket for the following trip to Los Angeles to make it in time for his father’s memorial service. A couple of days after the fact, my dad considered my mom and let her realize that we likewise need to purchase tickets and drop by him at the earliest opportunity. It was such huge numbers of years back and since I was youthful, I don’t recollect quite a bit of what and how things occurred. At the point when I asked my mom what that felt like for her, she let me know â€Å"I figured we would simply go for half a month, it never entered my thoughts that I would need to move to a totally different and diverse nation by and by. † When we arrived, my folks chose to formally move to the United States. My mom had to adjust to a totally extraordinary condition. At the point when she had moved to Moscow from Yerevan, her experience was less overpowering for her. This was because of the way that she knew Russian her entire life and Russia was just two hours from Armenia. In any case, the transition to Los Angeles, she says, was the hardest hindrance she needed to look as a mother and as a spouse. My mom didn't know English, so alone was unnerving for her to enter some place where she was unable to speak with the individuals around her. Fortunately, there is an enormous Armenian people group in Los Angeles and I accept this has facilitated her progress in any event in one way. Additionally, what was extraordinary is that junior colleges really offer ESL classes which are English classes that are offered to individuals for whom English is a subsequent language. My mom went to these classes, yet she didn't get familiar with the language just as she suspected she would. One thing my mom let me know during this meeting, was the reason she was upbeat and had a sense of security to move here. During our most recent couple of years in Moscow, there was a great deal of separation towards darker looking individuals, for example, African Americans as well as Armenians, Persians, Georgians and any other individual that was Middle Eastern. My mom didn't have a sense of security to stroll around with me in the boulevards of Moscow, on the grounds that there would be supremacist bunches that would stroll around and really execute any individual who was darker looking. .ub9a3a1a301b82d9fdc8f4d501c8ce826 , .ub9a3a1a301b82d9fdc8f4d501c8ce826 .postImageUrl , .ub9a3a1a301b82d9fdc8f4d501c8ce826 .focused content zone { min-stature: 80px; position: relative; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 , .ub9a3a1a301b82d9fdc8f4d501c8ce826:hover , .ub9a3a1a301b82d9fdc8f4d501c8ce826:visited , .ub9a3a1a301b82d9fdc8f4d501c8ce826:active { border:0!important; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 .clearfix:after { content: ; show: table; clear: both; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%; murkiness: 1; change: mistiness 250ms; webkit-progress: haziness 250ms; foundation shading: #95A5A6; } .ub9a3a1a301b82d9fdc8f4d501c8ce826:active , .ub9a3a1a301b82d9fdc8f4d501c8ce826:hover { darkness: 1; progress: obscurity 250ms; webkit-change: murkiness 250ms; foundation shading: #2C3E50; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 .focused content region { width: 100%; position: relative; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 .ctaText { outskirt base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; content adornment: underline; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .ub9a3a1a301b82d9fdc8f4d501c8ce826 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; fringe: none; outskirt span: 3px; box-shadow: none; text dimension: 14px; textual style weight: intense; line-tallness: 26px; moz-outskirt sweep: 3px; content adjust: focus; content enrichment: none; content shadow: none; width: 80px; min-stature: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/basic arrow.png)no-rehash; position: total; right: 0; top: 0; } .ub9a3a1a301b82d9fdc8f4d501c8ce826:hover .ctaButton { foundation shading: #34495E!important; } .ub9a3a1a301b82d9fdc 8f4d501c8ce826 .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .ub9a3a1a301b82d9fdc8f4d501c8ce826-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .ub9a3a1a301b82d9fdc8f4d501c8ce826:after { content: ; show: square; clear: both; } READ: Social Media and Law Enforcement Sample EssayThey had a trademark that said â€Å"Russia is for Russians†. She had a great deal of dread to try and escape the house to go purchase staple goods since we would consistently find out about the most recent assault on darker looking individuals, a large number of the occasions it would Armenians. I accept, this experience of hers likewise identifies with all the separation that occurred here in America back in the days. A great deal of Asian Americans experienced a ton thus did African Americans, when the occasions were so harsh in the United States. In any case, when we moved here , my mom let me know during my meeting with her that she is recently satisfied that she feels like her and our family are really protected here. No one ought to ever encounter prejudice on the grounds that by the day's end, regardless of what our nationality is, we despite everything are individuals, offspring of God, who were put on earth to cherish each other and carry on with an upbeat life in this world. 3She realizes that there won’t be a bigot bunches that uncovered headed, wearing armed force boots, sticking around in the lanes to kill darker looking individuals. Both my mom and I, really confronted a circumstance back in Moscow when I was around six years of age. We were driving with my dad and my dad cut somebody off, and that vehicle started to pursue us and got before us to hinder our direction. My dad escaped the vehicle, and from the other vehicle, those supremacist activists came out. There were two bare headed folks and I recall them going towards my father. As it was for me, my mom disclosed to me this was one of the most noticeably awful days of her life. My dad and the two men started to battle and my mom even attempted to stop them. This was not something I wish I had seen or experienced. I can just envision how apprehensive my mom was for my dad. In the end, the two men fled the scene. Be that as it may, the injury remained with us for eternity. Presently my mom, just as our family, have been living in the United States for a long time. My mom unquestionably feels much more secure here and realizes that there is prompt assistance and that as a resident, she has certain rights in this nation. In any case, it has not been simple for her to adjust to the quick pace way of life that is in Los Angeles. My mom was a stay at home spouse when we lived in Moscow. At the point when we came here, my dad opened up a business and had my mother help him out. Since she has never worked, it was amazingly hard for my mother to work at my father’s eatery. After we sold the business, my mom started to be a stay at home spouse. She says it was anything but difficult to be one in Moscow, since I was youthful and she could deal with me. In any case, presently I am more seasoned and I do a great deal of things without her assistance, so she makes some hard memories simply remaining at home. Since she doesn't have the foggiest idea about the language, she has not gotten the opportunity to get a decent line of work for herself to bring in cash and invest her energy at. Subsequent to meeting her, I accept she has had acculturative pressure. As per our reading material â€Å" exceptionally enculturated Asian Americans may encounter serious acculturative pressure when they endeavor to adjust the contending requests of two societies.. . The indications incorporate gloom, which tragically my mom commonly feels that she has. Despite the fact that not Asian American, my mom has made some troublesome memories adjusting the two societies. Mentally, this entire experience has destroyed her without a doubt. When she got adjusted to the way of life in Moscow, she needed to move away indeed. This has left her inclination even somewhat confounded, since she doesn’t feel like she has a place here. Since she has not been succeeding, she revealed to me that she feels disillusioned in herself since when she was more youthful she did so well in school. .ubc3e8b7d2b290b096f574c57a37ed3e0 , .ubc3e8b7d2b290b096f574c57a37ed3e0 .postImageUrl , .ubc3e8b7d2b290b096f574c57a37ed3e0 .focused content region { min-tallness: 80px; position: relative; } .ubc3e8b7d2b290b096f574c57a37ed3e0 , .ubc3e8b7d2b290b096f574c57a37ed3e0:hover , .ubc3e8b7d2b290b096f574c57a37ed3e0:visited , .ubc3e8b7d2b290b096f574c57a37ed3e0:active { border:0!important; } .ubc3e8b7d2b290b096f574c57a37ed3e0 .clearfix:after { content: ; show: table; clear: both; } .ubc3e8b7d2b290b096f574c57a37ed3e0 { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%

Could you be selling yourself short Use the New York, New York Principle.

Could you be selling yourself short Use the New York, New York Principle. I grew up in New York City, intimately familiar with the song New York, New York, written by John Kander and made famous by Frank Sinatra. The lyrics opine, “If you can make it there, you’ll make it anywhere!” I have lived in many cities, including New Haven, CT, Oakland, CA and now Madison, WI, and I’ve always “made it”â€"so I suppose the saying has proven true for me! I never used to think of the implications of the New York, New York principle for other aspects of life, where I am selling myself to others who are evaluating my ability to “make it” with them. But as a resume writer and student of leadership, I apply this idea all the time. Here are a few places (your resume summary section, bids for leadership positions, and proposals for business) where it’s important to keep the words of Mr. Kander in mind. Resume Summary Section Your resume summary, located at the TOP of your resume, is usually the very first thing that a hiring manager reads about you when you apply for a job. It’s a prime opportunity to highlight a past workplace or project that would clearly qualify you for the position you are now targeting. But many resume summaries describe the candidate as something like this: Results-driven, successful professional with x years of varied experience in widget industry. Proven track of leading cross-functional teams to profitable results. Skilled in multiple technologies and methodologies. What if this same candidate wrote the following summary instead? IT Director with expertise in Quality Assurance (QA) who has managed up to $20M annual budgets at Amazon subsidiary. 15+ years of experience across retail, financial, and health care organizations. Strong partner to company departments, ensuring repeatable, scalable testing solutions. Solutions have saved company up to $2M annually. I don’t know about you, but as soon as I see the number $20M and the word “Amazon” I think: This guy is someone I’d probably want on my team! If he can make it there, … Plus I learn right away that he is not limited to one industry (this is good if I am a hiring manager at a finance organization, for instance) and that he has saved at least one company $2M. Yep, I think I want this guy! Of course, not everyone has an Amazon or IBM or Coca Cola to put on their resume. If you don’t, you can still be specific about the size and type of organizations you worked for, giving the reader a clear sense of what you’ve done and where you’ve done it. One (perhaps obvious) flaw in the New York, New York principle is that many New Yorkers would probably not make it “anywhere”; they might, for instance, lose their minds if dropped into a podunk town in North Dakota. But when you’re crafting your resume, I trust you’ve chosen a target where something from your past  does  make you highly qualified for this next position. Don’t make the reader work to figure out what that is. Tell them up front and get their attention! Bids for Leadership Positions On my annual June leadership retreat with the Wright Foundation, leadership roles come up for grabs every day. I was struck by how reluctant people were, in the 30 seconds to 1 minute they were given, to say what they had done in the past that qualified them for the position they wanted. One woman unsuccessfully ran twice for the “Reflecting” role, which entails overseeing the audio and video quality and presentations at the event; then, on the third try, she included in her speech the small details that she had filled this role on multiple previous trainings, and that she manages audio/visual projects at a high level in her work. She was elected. And she wasn’t the only one who failed to portray herself accurately. Even a long-time leader in the community, who actually stood up and advised people to include their past roles and qualifications in their speeches, did not take his own advice! Like so many others, he painted a vision of what he wanted to accomplish in the role and put forth enthusiastic energy, but didn’t ground his bid in his past experience. He was ultimately elected, though I think that was because people knew more about him than he shared in his talk. I also noticed a lack of New York, New York awareness in the speeches delivered at the annual meeting of my local food coop. One guy stood up and, as I remember, said he had gray hair and therefore was the right person for a board position. He must be very well known by many voting members as someone well-qualified for other reasons, because he was elected. But I did not know him and did not vote for him based on his presentation. I would have advised him not to mess with the New York, New York principle! Proposals for Business A potential client called me this week who had been referred by another client. But just one referral source was not sufficient to convince her that we were the right company to write her husband’s executive-level LinkedIn profile. She wanted to know that we had written profiles for other executives, and she wanted to read them for herself. She figured if we could write for them, we could write for her husband. I sent her samples and she said her husband would contact us shortly. If you’re writing a proposal for new business, consider whom you’ve worked for in the past that will put you in good stead according to the New York, New York principle. And let your potential client know about your successes up front and center. Of course, no matter what you’ve done in the past, you’ll still need to prove yourself worthy of the trust the New York, New York principle has conferred upon you. As the last line of that famous song goes, “It’s up to you, New York, New York!”

Crime and Intelligence Essay examples - 1579 Words

Criminologists have debated back and forth the question, â€Å"Does a person’s IQ level really affects their probability of committing a crime and if lack of intelligence increases criminal behavior throughout a person’s life.† Some believe that IQ is a more important variable than race, social or economical class in foretelling criminal behavior. The theory of crime being linked to a person’s intelligence says that if IQ does not affect the probability of crime, it can have a chain reaction. Academic incompetence as a child is the stressor for many adult criminals; children with low IQs tend to have difficulties in school and in performing tasks that their peers can do. Criminologists believe that IQ affects future criminal behavior because†¦show more content†¦Arguments have technically just assumed that low IQ increases criminal behavior; however, it is possible that in various ways high IQ actually increases criminal behavior. A vast amount of studies have shown that violent behaviors, delinquency and adult crime are linked to low IQ’s (Bower,1995). Goodman concluded, after testing children between the ages of 5 and 15, excluding children with hyperactivity, psychosis or retardation, that children with lower IQ’s seem to have more tendencies towards conduct disorders than those who did not or had â€Å"normal† IQ’s (Goodman,1995). The theory about low IQ’s does leave open for idea of maybe it’s just that their low IQ’s leaves them more vulnerable to get caught and imprisoned. For example, more-intelligent individuals may feel greater confidence of committing crimes without getting caught and feel like they’re â€Å"above the law† or invincible, which in theory may lead to more criminal behavior. More-intelligent individuals might also have more opportunities for some crimes, such as white-collar crime. An example of high intelligence in crime can be seen in 1941, Hervey Cleckley’s published book The Mask of Sanity. His book was the first to discuss the psychiatric description of psychopaths as dangerous people because many were violent or guilty of white-collar crimes. Cleckley concluded that many psychopaths carry common traits such as, â€Å"Exhibit shallowness and narcissism, callousness and lack of empathy, impulsiveness, aShow MoreRelatedCriminal Intelligence and Violent Crime Essay1094 Words   |  5 PagesCrime Intelligence Analysis Violent Crimes Katelyn Shawver American Military University Introduction Criminal intelligence analysis is useful in many areas to law enforcement. It is especially useful in apprehending violent criminals and preventing violent crimes. Violent crimes in the United States have been on a moderate decline over the past decade. This decline has been attributed to the crime analysis intelligence used by law enforcement. Prevention of violent crimeRead MoreCrime Rates And Gathering Intelligence Information866 Words   |  4 PagesIn an attempt to reduce crime rates and gather intelligence information in a specific area, and due in part to the continuing advancements in surveillance technologies, the law enforcement community has opted to employ these systems. Overwhelmingly, a consensus amongst the population agrees police officers should be held accountable for their action through continuous monitoring during their on duty hours (CBS News New York 2015). Furthermore, demand from the public to become knowledgeable in allRead MorePolice Department And The Dep artment s Records Management System909 Words   |  4 Pagescollect, examine, and compare a significant amount of information in order to understand crime issues that affect our community. The department must consistently evaluate and measure the success of our intelligence-led policing capabilities and strategies. 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Intelligence is the â€Å"resultant of the process of acquiring, storing in memory, retrieving, combining, comparing, and using in new contexts information and conceptual skills†Read MoreTheories Of Crime Analysis Spring1300 Words   |  6 PagesMarshawn Walker Theories of Crime Analysis Spring August 30, 2015 Types of Policing Policing is to regulate, control, or keep in order with a law enforcement agency or other official group. It is a job done every minute of every hour of everyday by men and women willing to risk their health and life. To make the job easier different styles or types of policing methods have been developed. 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The two models that will be examined in this essay are Intelligence-Led policing and Problem-Oriented policing. Both these models are different from each other as they use different methods and techniques when it comes to investigating crime, however, they do also share some similarities in their methods even though they us e those methods for different reasons. TheRead MoreIntelligence Led Policing Research Paper703 Words   |  3 PagesEvolution from Community to Intelligence Led-Policing Since the September 11, 2001, law enforcement agencies across the nation recognized the need to integrate intelligence into their current community policing approach. When intelligence is available, decision-making is more effective and efficient. Intelligence enables law enforcement agencies to implement policies and procedures necessary to combat the concerns of the community. Why intelligence-led policing was integrated into community policingRead MoreThe Fbi : A Intelligent Law Enforcement Agency1222 Words   |  5 Pagesin the FBI besides an agent. For example there is Intelligence, â€Å"the Office of Intelligence is part of the National Security Branch and overseen by the Directorate of Intelligence, who works alongside all sectors of the Bureau to ensure that intelligence is embedded in all investigative programs and FBI Field Offices† (Fbiagentedu.org). The Counterintelligence Division of the FBI was introduced to protect the United States from foreign intelligence operations (fbiagentedu.org). The Cyber DivisionRead MoreFederal Bureau of Investigation (FBI Essay550 Words   |  3 Pageslarge amount of authority to serve and protect. Doing so the FBI has been broken into seven areas to follow the U.S. Constitution. Background Investigations, Civil Rights, Domestic Terrorism, National Foreign Intelligence, Organized Crime/Drug Cases, Violent Crimes, and White Collar Crimes. Given this a large amount of authority even today the FBI sees to it that they base all their actions from the U.S. Constitution. In the area of Background Investigations the FBI manages checks on anyone who applies

Rural Marketing - Free Essay Example

Sample details Pages: 4 Words: 1132 Downloads: 8 Date added: 2017/09/24 Category Advertising Essay Type Argumentative essay Did you like this example? Solar Energy Products Marketing In Rural India Rajshekhar Patne The recently released Global Status Report on renewable says that grid-connected solar Photovoltaics (PV) has been the fastest growing energy technology in the world with 50 per cent annual growth in cumulative installed capacity in last two years. The majority of the above capacity comes from Germany, Japan, Spain, and the US which have installed small PV systems (a few kilowatts to tens of kilowatts) on their rooftops, feeding the electricity into the grid through two way meters and enjoying the benefits of net metered electricity bills at the end of the month. Of the total reported 25 lakh homes worldwide that use solar home systems today, about 3. 6 lakhs are in India, second only to China which has 4 lakh solar home system users. Though this figure looks good the actual situation is very scary. According to the Ministry of Power, Government of India, about 7. 6 crore rural homes still use kerosene for lig hting. Lighting the basic amenity is not provided to 56. 5 per cent of the 13~8crore rural homes and 12. 4 per cent of roughly 5. 37 crore urban homes in India which continue to burn biomass, wax candles and kerosene lamps, spending Rs. to 5 per day. Apart from the low levels of illumination provided by these devices, smoke and fire hazards due to accidental pilfering of kerosene and tipping of candles are common. The task of providing electricity to the rural households is a large one. The task is made more challenging by constraints such as the lack of an extensive transmission network throughout the country, the limited generating capacity to serve additional rural markets, and the scarcity of capital for investments in generation, transmission, and distribution. Economic extension of rural electrification is further constrained by the generally small loads and greater dispersion of rural customers, making it difficult to justify the costs of distribution networks. Alternative options to the conventional grid based electrification, such as low cost isolated grid systems, solar, wind and micro hydro are under consideration for serving remote villages and other clusters of customers. Another strong contender, particularly for disbursed consumers and clusters with combined loads too small to justify grid systems is the use of solar photovoltaic (PV) panels for electrification of individual homes or buildings. These are commonly called solar home systems (SHS). The solar lantern, a portable lighting device that uses CFL, has its own rechargeable battery inside that can be charged every day using an 8 to 10 watt solar panel. This is an ideal device to light up homes that currently use biomass or kerosene for lighting. The solar lantern with its solar panel currently costs about Rs. 3,200-3,600 of which the user generally pays only 50 per cent as the remaining amount is supported through a central subsidy. However, an upfront payment of Rs. 1,800 often b ecomes a deterrent for the prospective user who can afford and probably is willing to pay smaller amounts on a daily or weekly basis. Such scenario can be resolved by Micro finance and effective business model. Dynamics of rural markets differ from other market types, and similarly, rural marketing strategies are also significantly different from the marketing strategies aimed at an urban or industrial consumer. Strategies to be followed in Indian Rural Market- a) Marketing Strategy: Marketers need to understand the psychology of the rural consumers and then act consequently. Rural marketing involves more exhaustive personal selling efforts compared to urban marketing. Different schemes can be proposed for the solar lightning in Rural area: 1. Cash purchase through a single payment (with subsidy) . Cash purchase through payment in monthly installments. 3. Cash purchase of main equipment and charging service fee on daily or weekly basis. 4. Loan to Self Help Group people to buy so lar products. b) Distribution Strategy Apart from making financing schemes we need to think about distribution and promotional model for the same. As the value chain for solar lightning is Manufacturer ( Regional Distributor ( Local distributor (Local retailer (at village level) this makes product costlier. This longer chain can be cut down by making hub spoke model by manufacturer. This model not only for supply of equipments but also should be there for service/repair. According to the Indian Market Research Bureau, around 8000 such melas are held in rural India every year. Rural markets have the practice of fixing specific days in a week as Market Days called Haats when exchange of goods and services are carried out. This is another potential low cost distribution channel available to the marketers. At local level a service person can be appointed who can work on partly basis and repair the solar lanterns. Also if partial equipment is purchased by people then company can e stablish solar charging station at center and this local person can collect and charge lanterns on daily basis. As most of the time the lanterns are used during 6 pm to 10 pm, a local person can collect these lanterns during morning time, charge it entire day and return it in the evening time. Apart from this he can also collect mobile/telephone batteries, smaller pump batteries and charge it with some minimal amount. This will take care expenses of local service provider. These solar charging stations would be operated and maintained by local youth, NGOs and local enterprises that can be selected through a process offering maximum equity (or any other criteria) and can be trained and incubated for a pre-specified time. These charging stations can be set up using resources from the government (they can be treated as basic infrastructure) or from corporations setting up rural outlets for their own products and services. c) Promotional Strategies: Bottle Water: In most of villages in India drinking water is major problem. To promote solar products in such villages, company can distribute reusable water bottle to villagers which can be filled every day with some minimal amount. A local person can be appointed who can daily distribute water to these homes and also collect solar lanterns for charging at central station. With help of very marginal amount such business model can work in self sustainable basis. Initial setup support can be get from Government in the form of Subsidy, NGO or Charity. Fertilizer Company tie-up: Company can make promotional offers having tie-up with fertilizer companies. This way they can channelize their business with short supply chain. Also this will help to provide free system on bulk purchase of fertilizers pesticides. Conclusion: Solar lightning penetration to 3. 5 lacs house hold compared to more than 7 crore household who are awaiting to see the light in their life is very scary and very opportunistic. The right way of d istribution, service and promotional model in rural area will be a great opportunity for many Solar Product manufacturing companies. Micro finance and NGOs are very supportive to initialize proper self sustainable business model. Don’t waste time! Our writers will create an original "Rural Marketing" essay for you Create order

Grand Alliance 1945 Free Essays

?Why did the foundations for mistrust and suspicion between the members of the Grand Alliance already exist by 1945? In 1945 the war had been fought on one side by the nations of Great Britain, USA and USSR, the members of the Grand Alliance achieved victory in WW2. It was more important than ever the victorious powers remained united as they faced the enormous task of reconstructing war torn Europe. However, as they sought to do this, their unity was already weakened by the existence of mistrust and suspicions between them. We will write a custom essay sample on Grand Alliance 1945 or any similar topic only for you Order Now Despite the outward appearance of unity, these nations were fundamentally divided by their ideological rivalry which had already existed between them since 1917: the disagreements and strains they experienced; and their competing aims and ambitions for the future of post-war Europe on which their societies were based. The fundamental struggle between the communist system of USSR and capitalist ideas of USA and Great Britain ideological rivalry is evident to be the most significant explanation for the existence of mistrust and suspicion between them. Due to the fact, it lies at the basis of the other casual factors. The long term issues of their ideological rivalry which was present between the USSR and the West since the Bolshevik Revolution in 1917 was a significant contributory factor in the development of a hostile relationship between them. The great power rivalry was evident during the years of 1917 to 1941; the Bolshevik Revolution in 1917 saw the rise of Lenin which meant a rise in Communism. It can be said the Soviet foreign policy was driven by communist ideology rather than national security. This was a threat of a totalitarian state. Ideology of Marxism was alien to the USA as left wing politics were unheard of; this was especially threatening as Marxist ideology saw the destruction of capitalist societies such as the USA. Its egalitarian values and its attacks on the freedoms held to be so important in a Liberal Democracy. Truman adopted a strident policy to combat spread of communism towards the Soviet Union; in 1945 he upbraided USSR’s foreign minister Molotov, over Soviet occupation of Poland. A greater source of fear in the West was the communist belief in the inevitable conflict between capitalism and communism views. The idea of communism succeeding to worldwide revolution and this meant the downfall of capitalism. In addition, Europe faced the growing threat from Nazi Germany. In the years of 1939 saw the introduction of a non-aggression pact between Russia and Germany. Seen by many as what gave Hitler the confidence to invade Poland which sparked WW2. Stalin feared Germany would go against them in war and were not ready arms wise in the battle to fight against them. It can be said Hitler didn’t want to fight war on both East and West fronts, that’s why he wanted to attack Poland, already achieving taking over Czechoslovakia. These approaches were rejected by the British government whose ideological opposition to Fascist Germany. Their differences in ideology created British suspicions to rise, as Stalin appeared to be confirmed in August, in the view of the British making the outbreak of war in Europe inevitable. 1941, when the Grand Alliance was formed, it was out of a mutual need to defeat a common enemy (Hitler. ) Not a natural alliance of allies but an alliance of ideological enemies. The suspicion and mistrust relationship between them continued to exist below the surface. This helps to explain why despite the superficial show of unity, there were extensive dissimilarities and strains in their wartime relationship which further served to fuel the latent hostility between them. The strands in the Grand Alliance were due to the ideological suspicions that arose between them. The disagreements that they experienced in the years building up to 1945, was due to the fact their key personalities and how they dealt with situations. The constraints and pressure they were put in as national leaders, added to their layer of mistrust and suspicion between them. Despite improved relations there were also cracks in the Soviet-American Alliance during the years of 1942 to 1944. Two sides argued about the opening of a second war front against Germany; as Stalin wanted the USA and Great Britain to invade Western Europe in order to relieve pressure on the Red Army in the east. Knowing that Stalin approached a different aspect of leadership, with his dysfunctional personality and suspicious nature, he remained wary of capitalist West authority, actions that the USA choose to take only proved his xenophic style of leadership to be expressed in his government. As early as 1942, Roosevelt promised to this however his following actions contributed to the suspicions. In the end the D Day landings didn’t occur until June 1944; in the meantime millions of Russians had died. The preoccupation with Stains obsession with Soviet security, USA wasn’t in a position to appreciate USSR deep sense of insecurity in 1945. This delay drove Stalin’s suspicions that USA and Britain were hoping that Germany and the USSR would ‘kill each other off. ’ This theory was viewed by many people; the revisionist. They asserted the USA’s policies of capitalist expansionist such as not helping USSR, was primarily responsible for the onset of the Cold War. The war never saw Russia and the USA fight alongside each other. Also, Soviet spies infiltrated the Manhattan Project in Los Alamos, New Mexico where US scientists were attempting to build the first atomic bomb; this soviet operation was on a massive scale. The residual mutual suspicion and disagreement on specific issues, (the second front) suggests the two sides had already mistrusted each other by 1945; due to their unprecedented cooperation. Considering all the factors, only when you get the opportunity to get them into a close contact that’s when ideology rivalry becomes the most significant factor in the foundations for mistrust and suspicion between the members of the Grand Alliance. The strains caused between them in the build up by 1945, may have been an ultimate trigger to anguish the mistrust and suspicion. Never the less, ideological rivalry is a catalyst in terms of in accelerating a difference between them. Therefore, leading the members to have completely different competing aims and ambitions in post-war Europe. Growing tensions and suspicions between the members of Grand Alliance which already existed through their ideological rivalry and strains steered them to having opposite aims and ambitions in post-war Europe. The reality of Soviet Union and the West having different competing aims and ambitions only put the final layer of the mistrust and suspicion to become an alarming problem. Despite having won the war together, the USA and USSR faced the post-war world with more differences than similarities. Stalin demands regarding Germany where that the future of the Soviet Union was to be secured, to prevent repercussions of the effects of WW2 happen again; such as 2,700,000 of its citizens being killed. Also, the opportunity of friendly governments and he wanted to seek revenge as the whole of Russia was destroyed; 70,000 villages were destroyed. The chances of USSR achieving these aims regarding Germany were unlikely as the West would be against them. The mistrust and suspicions which had already been implanted in the leaders’ minds caused the USA not to contribute, because of the threat of impact in ideological differences. However, they did agree in the principle of dividing and occupying Germany among the victory and have a shared goal of continued cooperation after war; this could re-kindle the trust between them. In 1944, they had different ideology which was based on their different economic and political ideas within their government. This was evident in their communist and capitalist ideas. USA had a very fixed idea about the shape of the world economy after the war. USA had become strong advocates of free trade, the unrestricted exchange of goods between nations based on their capitalist ideas. Individual countries should operate in Open Door policies, having production and distribution of goods should be on responsibility of a private sector and not the state. However, USA aims and ambitions for a free market were completely different to those of USSR government, they saw the preference of the command economy and state control necessary. The economy of the government was organised along the communist financial principles, a command economy. In addition, their aims and ambitions also differed in political ideology. Where the USA was in favour of (liberal democracy) democracy and right, a system where by freedom of speech was apparent which formed the basis of the post-war Europe. These rights were unheard of in the USSR and were not seen as fundamental or important; as they were in contrast to the ideas of USA. The fear of capitalist ideas spreading towards the East added to the mistrust and suspicion of Stalin; as his role was an expansionist communist. They believed in (one-party state) freedom of speech and dissents were not tolerated in any basis, within a party or society at large. Along with that, the recent devastating effects of WW2 for Russia, Stalin pursued in creating a belt of friendly states on Russia’s western border. USSR had experience mistrust and twice in Stalin’s lifetime Russia had been invaded by Germany through these eastern neighbours, he longed for a sense of security. But, Roosevelt wanted no empires or sphere of influence in the world. He believed that all states had no right to self-determination. Their differences in post-war agreements added tension in their fragile relationship. These events would sow the seeds for the eventual collapse of the Grand Alliance; these can be detected in the agreements made at Yalta even though ironically these marked the highpoint of allied unity. Ideological rivalry and a history of mistrust and suspicions made the potential for the continuation of Grand Alliance to deteriorate. Contrasting post-war visions held by the USA and USSR reflected their different value systems, different historical experience and different security needs. The chances of them working together in a complacent way were stacked against them as they were expected to cooperate in the reconstruction of post-war Europe. Ideological rivalry was extremely important in whether the members of Grand Alliance trusted or grew intense suspicions on each other by 1945, as it was an inner-deep layer of foundation which hidden their capitalism and communism ideology differences. The long term effect of mistrust and suspicion had only been waiting underneath the layer of the foundations to be exposed, through their close proximity of being allies with one another. That’s when their differences and strains come to light. Dissimilarities in the Grand Alliance were fundamentally being reflected on their ideological differences in their economic and political state. Therefore, creating a complete contrast in competing aims and ambitions in post-war Europe; between capitalist West and communist Soviet Union. How to cite Grand Alliance 1945, Papers

Sorry for Partyin Essay Example For Students

Sorry for Partyin Essay â€Å"Coming home this weekend! Bonfire at my house Saturday night! † This one simple text, sent to me by my neighbor and really good friend, Dylan, changed what was going to be a typical boring weekend at my house into a crazy adventure that none of us expected. Having bonfires at Dylan’s house was a highlight of my summer. They usually consisted of Dylan, Devin, who we jokingly call Kevin, another Devin, and myself. The four of us could never have just a small fire; it had to be a towering inferno. As I pulled down the gravel road leading up to my house, I could already see the fire. I had volunteered to bring a wagon full of cardboard and firewood to add to the fire. I pulled my big utility wagon a quarter of a mile from my house to Dylan’s. As I walked up the drive, Dylan, Kevin, and Devin had the stereo system set up with our usual country playlist blaring. Sitting around a bonfire listening to music and talking with friends is one thing that will never get old. While we were sitting around, Kevin decided to sit in my wagon, which somewhat resembles a black cage with four big rubber tires. As he climbed in, our favorite party song, â€Å"Sorry for Partyin’† by Thomas Rhett came on. At that point Kevin started to beg Devin and I to pull him up and down the road in the wagon, so for the sake of fun we went along with it. After nearly an hour of full speed pulling up and down the hill filled, pitted gravel road along our houses, we wanted to be a bit more reckless. We began to search Dylan’s tool filled garage for some sort of rope, and within ten minutes, I had found a tow strap that seemed perfect. We soon convinced Devin to fire up his beautiful white Mitsubishi Eclipse convertible. As I meticulously wrapped the strap around the frame of the car, I began to have an eerie feeling. Once the strap was securely fastened, Kevin climbed back into the wagon and listened to my explicit directions. â€Å"I will be in the car with Devin, and I will count down from three. When I get to one, you let go of the strap. † Kevin nodded his head in agreement, so I turned to Devin and gave him his instructions. Get the car up to fifteen, then I will countdown and when I get to one you speed up to thirty to get out of the way of the wagon. † When I finished, Devin also nodded, and we got in the car and told Kevin to hold on tight. Devin began to roll down the gravel road, and my feeling kept worsening, but it was too late to turn back. We kept accelerating until we got to fifteen miles per hour and I gave the countdown. â€Å"Three Two One! † I felt the car speed up, but Kevin did not let go. â€Å"Kevin, let go! † I was screaming at him, but whether out of stupidity or panic, he did not let go. As one could imagine, a wagon being towed behind a car at thirty miles per hour on a bumpy gravel road may not end well. As the car hit thirty, my bad feeling peaked into almost nausea. The next thing I saw behind the white Mitsubishi was Kevin take off flying out of the wagon, his body as limp as a rag doll as he flew. The wagon flipped three times and came to a rest upside down. Devin and I looked at each other in the car and at the same time screamed â€Å"oh shit! † He slammed on the brakes and we sprinted over to Kevin, where fortunately he was not severely injured. .u05ad70abeb36fe3fe949d6de6cb34ebd , .u05ad70abeb36fe3fe949d6de6cb34ebd .postImageUrl , .u05ad70abeb36fe3fe949d6de6cb34ebd .centered-text-area { min-height: 80px; position: relative; } .u05ad70abeb36fe3fe949d6de6cb34ebd , .u05ad70abeb36fe3fe949d6de6cb34ebd:hover , .u05ad70abeb36fe3fe949d6de6cb34ebd:visited , .u05ad70abeb36fe3fe949d6de6cb34ebd:active { border:0!important; } .u05ad70abeb36fe3fe949d6de6cb34ebd .clearfix:after { content: ""; display: table; clear: both; } .u05ad70abeb36fe3fe949d6de6cb34ebd { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u05ad70abeb36fe3fe949d6de6cb34ebd:active , .u05ad70abeb36fe3fe949d6de6cb34ebd:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u05ad70abeb36fe3fe949d6de6cb34ebd .centered-text-area { width: 100%; position: relative ; } .u05ad70abeb36fe3fe949d6de6cb34ebd .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u05ad70abeb36fe3fe949d6de6cb34ebd .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u05ad70abeb36fe3fe949d6de6cb34ebd .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u05ad70abeb36fe3fe949d6de6cb34ebd:hover .ctaButton { background-color: #34495E!important; } .u05ad70abeb36fe3fe949d6de6cb34ebd .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u05ad70abeb36fe3fe949d6de6cb34ebd .u05ad70abeb36fe3fe949d6de6cb34ebd-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u05ad70abeb36fe3fe949d6de6cb34ebd:after { content: ""; display: block; clear: both; } READ: Diabetes The Silent Killer EssayWe pulled the wagon back and helped Kevin into the car to take him back to the garage. When we were all gathered in the light, Kevin noticed that his pants were torn from his hip all the way down to his knee, and he had blood dripping down in a jagged cut, but luckily that was his only injury. After the crash, we all decided to call it a night. When we woke up the next morning, we noticed a big skid mark in the gravel that could only have been from Kevin’s body. Although there was an injury, we had a blast. On top of it all, we truly were not sorry for partying.

The Ottoman Sultans Were Not Very Turkish

The Ottoman Sultans Were Not Very Turkish The Ottoman Empire ruled over what is now Turkey and a large portion of the eastern Mediterranean world from 1299 until 1923. The rulers, or sultans, of the Ottoman Empire had their paternal roots in Oghuz Turks of Central Asia, also known as the Turkmen.   The History of Concubine Mothers However, most of the sultans mothers were concubines from the royal harem - and most of the concubines were from non-Turkic, usually non-Muslim parts of the empire. Much like the boys in the Janissary corps, most concubines in the Ottoman Empire were technically members of the slave class. The Quran forbids the enslavement of fellow Muslims, so the concubines were from Christian or Jewish families in Greece or the Caucasus, or were prisoners of war from further afield. Some residents of the harem were official wives, as well, who might be noblewomen from Christian nations, married to the sultan as part of diplomatic negotiations. Although many of the mothers were slaves, they could amass incredible political power if one of their sons became the sultan. As valide sultan, or Mother Sultan, a concubine often served as de facto ruler in the name of her young or incompetent son. Ottoman Royal Genealogy The Ottoman royal genealogy begins with Osman I (r. 1299 - 1326), both of whose parents were Turks. The next sultan likewise was 100% Turkic, but beginning with the third sultan, Murad I, the sultans mothers (or valide sultan) were not of Central Asian origins. Murad I (r. 1362 - 1389) was 50% Turkish.  Bayezid Is mother was Greek, so he was 25% Turkish.   The fifth sultans mother was Oghuz, so he was 62.5% Turkish. Continuing in the fashion, Suleiman the Magnificent, the tenth sultan, had about 24% Turkish blood.   According to our calculations, by the time we get to the 36th and final sultan of the Ottoman Empire, Mehmed VI (r. 1918 - 1922), the Oghuz blood was so diluted that he was only about 0.195% Turkic. All of those generations of mothers from Greece, Poland, Venice, Russia, France, and beyond really drowned out the sultans genetic roots on the steppes of Central Asia. List of Ottoman Sultans and their Mothers Ethnicities Osman I, TurkishOrhan, TurkishMurad I, GreekBayezid I, GreekMehmed I, TurkishMurad II, TurkishMehmed II, TurkishBayezid II, TurkishSelim I, GreekSuleiman I, GreekSelim II, PolishMurad III, Italian (Venetian)Mehmed III, Italian (Venetian)Ahmed I, GreekMustafa I, AbkhazianOsman II, Greek or Serbian (?)Murad IV, GreekIbrahim, GreekMehmed IV, UkrainianSuleiman II, SerbianAhmed II, PolishMustafa II, GreekAhmed III, GreekMahmud I, GreekOsman III, SerbianMustafa III, FrenchAbdulhamid I, HungarianSelim III, GeorgianMustafa IV, BulgarianMahmud II, GeorgianAbdulmecid I, Georgian or Russian (?)Abdulaziz I, RomanianMurad V, GeorgianAbdulhamid II, Armenian or Russian (?)Mehmed V, AlbanianMehmed VI, Georgian

Avoid These 5 Mistakes When NetworkingÂÂ

Avoid These 5 Mistakes When Networking   We all know how daunting networking can be. It’s often the last thing we want to do: going out to â€Å"socialize† when we could be on the couch with take-out and Netflix, having to sell ourselves in every conversation, having to get in front of the right people to make the right impression. But, it has to be done. And it should be done right. Here are 5 common networking pitfalls and how to avoid them.1. Don’t get caught with your pants downEven if you make a last-minute decision to attend, make sure you’re prepared. Don’t forget your business cards. Don’t go up to anyone uninformed. Spend 15 minutes before you hit the party making a game plan- who you’d like to introduce yourself to, what specifically you’d like to accomplish, etc. Do some research into the people and companies you’re likely to run into; this will make for better conversations and you’ll come across as intelligent and on top of your game. Pick yo ur marks and take accurate, appropriate shots.2. Don’t be unprofessionalYou don’t need to  make a special hair appointment or show up in a cocktail dress to a casual after-work event, but you also shouldn’t dress like a slob. Go no lower than business casual, and when in doubt, take your cues from coworkers or other contacts you know are also attending.Once you’re there, act like a professional human. Don’t dismiss people just because they don’t look important. Don’t go around collecting business cards as if you were trick-or-treating. Don’t lie- you’ll always get caught. And make sure to have your elevator pitch practiced and ready to go. There’s nothing worse than being asked what you’re looking for and having to reply â€Å"Uh†¦. Um†¦. Work and stuff?†3. Don’t be naà ¯veAct like you’ve been to a networking event before. Don’t expect a job from every decision-maker you happen to shake hands with. And make sure not to ask for too much from everyone you meet. This is where a little strategic planning can really come in handy. Plan your big asks before you go. Once you’ve made them, try to  relax, act normally, and enjoy yourself. People are just people, after all.4. Don’t be selfishNobody likes a party hog. Don’t be the kind of networker who talks only about herself, thinks only about her needs, barges into conversations uninvited, and otherwise monopolizes everything and everyone. That goes for the shrimp puffs, too.5. Don’t forget to follow upThis is perhaps the most important. If you’ve made good contact with anyone, make sure to send a polite follow-up email the following day. Or even a phone call, depending on your level of connection! And if anyone does you any favors- i.e. puts you in touch with someone or agrees to circulate your resume- make sure to send a gracious thank you ASAP.

Will GM's Strategic Plan Lead to Future Success Case Study

Will GM's Strategic Plan Lead to Future Success - Case Study Example The third strategy that GM has implemented is the premium pricing strategy that has led to higher margins and prices thus ultimately leading to higher profits per unit sales. GM has cut the incentives for the dealers in order to attain higher margins. The fourth strategy linking the executive compensation to company performance through ensuring the executive bonuses are dependent on the margins posted by the company. The company has also carried out staff rationalization in order to reduce the boated wage bill. Based on the case study, GM’s vision is to become the most profitable automaker in the world. The company is not interested in expanding its market share, but its strategies aim at reducing the operating costs and increasing the unit margins in order to improve the profitability of the company (Daft 183). The vision is realistic since it managed to regain from Toyota as the largest automaker in term of sales figures and has increased its profit margins. The company has also controlled costs. In this case, higher margins and sales volumes will make GM the most profitable automaker if the measures implemented in controlling costs are successful. The first SMART goal is to raise profit margins by 10 percent. This goal is specific and measureable since the current profit margin is 6 percent and this could go up to 10 percent after restructuring the company and improving operational efficiency. The reduction in engineering and manufacturing costs through downsizing the auto platforms will significantly reduce the manufacturing costs. Use of standardized plants and assembling will also improve efficiency of operations and lower costs. Other companies that have few auto platforms have managed to attain a return of 10 percent of sales and this goal is realistic and time-bound since GM will have only 14 auto ‘platforms’ by 2018. The second SMART goal of GM is to make more than $ 10

Reclaiming a social agenda Essay Example | Topics and Well Written Essays - 500 words

Reclaiming a social agenda - Essay Example In this context of understanding one of the major considerations is the dichotomy between art and science. Whereas science functions to question existing paradigms in a generally progressive way, aesthetic practice â€Å"begins answer, by reinventing itself, by building upon a past principle and ethical relationship† (Mockbee, pg. 2). When one considers this approach in terms of activist practice it’s clear that the parallel is that social or community change can occur through the complete re-imagination of the status quo. One recommended example of this perspective is in considered in rural Alabama, where theorist Mockbee argues that a harmonious architecture that brings together both disenfranchised and wealthy must be implemented. In addition to the above-considered abstract intents of activist practice, there are a number of clear strategic examples that have emerged. From an overarching perspective, it’s noted that many semblances of, â€Å"communities in the process of creating and sustaining their cultural identities by designing and often rebuilding their own world† (Ward, pg. 56). In this context of understanding, it’s seen how the traditional artistic means of re-imagination have emerged and been implemented in communities that previously experienced significant blight and hardship. In terms of specific case examples, it’s noted that the Pratt Institute Center for Community and Environmental Development (PICCED) is one such emergence of strong activist architecture. When considering the weaknesses of activist practice, it’s clear that recent rejections of activist forms of architecture represent a significant concern. In this context of understanding, theorists have referred to what is known as the post-political concern. In characterizing this post-political turn it’s been noted that, â€Å"Not only have American architectural

Inflation and Stock Returns in Nigeria

Inflation and Stock Returns in Nigeria This study empirically examines the relationship between inflation and stock returns in Nigeria during 1997-2006. The study focuses on different econometric models to investigation this relationship using monthly data of the All Share Price Index from the Nigerian Stock Exchange and Nigerian Consumers Index. The simple OLS regression result suggests that the residuals are stationary, which implies that stock returns and inflation are co integrated. Therefore we can conclude that there is a long run relationship between stock returns (LOGASI) and inflation (LOGCPI).The Engel co-integration results reveals that there is long run relationship between inflation and stock returns .the study further goes on to the determine the causal long run relationship using the Error Correction Model (ECM). This article offers evidence of a positive relationship between stock market returns and inflation. This result confirms that stock returns act as a hedge against inflation. CHAPTER ONE INTRODUCTION 1.1 Background to the Study The advent of oil boom in Nigeria in the early 1970s, has led to the instability of stock prices. This has been attributed to many factors such as: budget deficit monetization, inflow of foreign capital from crude oil sales and financial markets creation of excess private domestic credit. Since early 1970s, inflation rates in Nigeria has been highly unstable; the high inflationary change was in excess of 30 percent. This is evident in the high correlation of money supply growth and high inflation due to the fact that real economic growth is less in real term to money growth. This can be observed from the growth in money supply and some structural factors such as; supply shocks arising from famine, unfavorable terms of trade and devaluation of currency. Furthermore, Structural Adjustment Program (SAP) introduced by the government in the late 1980s also accounted for the increase in price level in the economy. Consequently, inflation in Nigeria has overtime responded to structural changes. These changes can be characterized into four periods based on the pattern and events that occur at that period. The first period of inflationary increase in Nigeria was noticed from 1974 to 1976; inflation increased by 30 percent. This inflationary pressure was as a result of the following: High cost of agricultural produce caused by drought in the Northern part of Nigeria, Excessive oil revenue monetization, increase in wage rate based on the recommendation of the Udoji commission of 1974, Folawewo (2005), and political instability The second period was from 1983 to 1985 when inflation rate reached 40 percent. This period noticed very little economic growth, The Nigerian government was under intense pressure from debtor groups to accept International Monetary Fund conditionalitys of devaluation of domestic currency because government debt has increased above 70 percent while excess money growth was around 41and 43 percent. This period also witnessed poor external trade performance.CBN (, 2006) The third period was from 1987 to 1989 when inflation rate hovered around 35 percent. During this period, the economy experienced high inflationary pressure brought about by fiscal expansion noticed in the 1988 budget, the debt for equity swaps conversion method adopted by the Government of Nigeria and the drastic contraction in monetary policy, all accounted for this change that span through to the early 1990s. Finally, the fourth period occurred between 1993 and 2000, as a result of fiscal deficit expansion which caused a 70 percent increase in money supply with a knock-on effect on domestic credit of the private sector of the economy.CBN, (2006) Overall, inflationary pressure can be largely attributed to structural factors such as; real income reduction caused by fluctuation in oil revenue, high nominal wages and debt obligation in form of expansionary fiscal deficit. These invariably mean that over the years, fluctuation in commodity price is a normal feature of the Nigerian economy. One major commodity considered in this study is the capital market stock, i.e. the Stock market. Stocks listed in Nigeria are traded on the floor of the Nigerian Stock Exchange (NSE) while the Securities and Exchange Commission (SEC) is the apex regulatory body which oversees the activities and affairs of the major players on the floor of the Stock Exchange. The Nigeria Stock Exchange was established in September 15, 1960 but commenced business on June 5, 1961 with 19 securities listed and traded on the Lagos Stock Exchange. Based on the recommendation of the Government Financial System Review Committee in 1976, the Lagos Stock Exchange was renamed and made part of the Nigerian Stock Exchange in December 5, 1977. The Nigerian Stock Exchange has nine branches established in major commercial cities in Nigeria. The main exchange of stocks of large enterprises are traded in the Nigerian Stock Exchange while small and medium scale enterprises are listed and traded in the Second tier Securities Market (SSM). From 1963 to 1990, the Nigerian stock exchange witnessed an overwhelming increase in government stock which exceeded the equities of industrial companies; however this trend changed from 1991. The value of equities of industrial companies increased to billions of Naira, while government stock traded on the Nigerian Stock Exchange was worth millions of Naira this decrease continues till date, a development to the deregulation of the economy. Despite the increase in market capitalization noticed in the economy at that period, the ratio of this amount to the Gross Domestic Product and Gross Fixed Capital Formation was still low. This increase was between 4.8% and 25.4% for gross domestic product while the ratio for gross fixed capital formation is between 28% and 55% from 1963 to 1990 (CBN, 2006). The ratio of market capitalization in the gross domestic product and gross fixed capital formation increased geometrically from 1990 to 1995. Although there was decrease in the share of market capitalization in gross domestic product and gross fixed capital formation, the return on investment did not follow the same pattern. This decrease noticed at that period was caused by a banking crisis in which a total of 26 banks were liquidated in 1998. However, with the recapitalization of the banking sector in 2005, the industry remains the most active participant in Nigerian stock market up till date. The trend in Nigeria Stock Exchang e causes the price and return on stocks to be highly volatile. 1.2 Problem Statement Price stability is essential in determining whether an economy is stable or not. Inflation which is the constant increase in price creates uncertainty in the economy; uncertainty makes both domestic and foreign investors unwilling to invest. In Nigeria inflation has led to increase in nominal interest rates which affect the value of interest payment of banks and financial institutions. Furthermore, determination of the problem caused by inflation depends upon the degree in which inflation is anticipated correctly or not. If inflation is anticipated correctly and the monetary authority is seen to be credible, the fluctuation in price would be managed effectively but if inflation is unanticipated, some economic agents will gain while others will lose. Unanticipated inflation impact negatively on saving ability of the citizens and as a result, low saving leads to a fall in the demand for stocks and equities as financial wealth. This decrease in demand causes the price of equities to fal l thereby reducing returns on equities and stocks. Furthermore, the prices of stock determine how effective and efficient the stock market allocates shares and equities based on preference and availability of market information. Increase or decrease in price of stock create uncertainty for the investors and in turn affect the demand and supply of stocks. Therefore, general increase in price level may affect peoples potential investors investment decision which has negative impact on the total returns on stocks in the economy at large. This situation is prevalent in the Nigerian economy; therefore there is the need to examine the effect of inflation on stock returns and its implication on investment. The Fishers hypothesis (Fishers effect) suggests that stocks or equities hedge or evade inflation, empirical investigation suggest that inflation and stock returns are negatively related. This study will be looking at relationship between inflation and stocks in Nigeria. The study of this relationship is essential in improving and in the understanding of stock markets, thus providing standards for decision-making about asset allocation.This study contributes to the existing literature by providing evidence for whether inflation affects stock returns both in the long run and in the short run. 1.3 Justification for the Study Despite the large number of empirical studies on the relationship between inflation and stock returns, there is no general consensus on the causal direction of this relationship. Empirical works as; Nelson (1976), Shwarts (1977), Fama (1981), Geske and Roll (1983), Gultekin (1983), Marshall (1992), Bakshi Chen, (1996), Zhao (1999), Chatrath et al (1997), Spyrou (2001), Omran and Pointon (2001), Crosby (2001), Gallagher and Taylor (2002) and Floros (2002), suggested a negative relationship between inflation and stocks while Boudoukh and Richardson (1993), Graham (1996) and Choudlery (2001) in different studies take the opposing view, i.e. that there exists positive relationship between inflation and stock returns. However, most of these studies were carried out in industrial nations and some selected developing countries most especially Latin American countries. Specific studies on the exact relationship between inflation and stock returns in Nigeria have not been explored rigorously. Furthermore, considering the negative impact of inflation on prices of commodities in Nigeria coupled with the volatility of stock returns, this study seek to provide a rigorous analysis of the dynamics of inflation and its implication on stock returns in Nigeria using an Error Correction Model to create a parsimonious and encompassing model that would show both short-run and long-run relationship between inflation and stock returns in Nigeria. 1.4 Plan of Study Following the introductory remarks in chapter one, chapter two will review the existing literature on this subject. While chapter three will focus on the theoretical framework, methodology, model specification, estimation technique and sources of data. The summary of result of the empirical analysis is presented in chapter four while the study will be rounded up in chapter five with summary of findings, policy implication and conclusion. CHAPTER TWO LITERATURE REVIEW 2.1 Introduction Section 2.2 of this chapter discusses the underpinning theories of inflation and stock returns. Section 2.3 examines the empirical literature review on inflation and stock returns this is to help identify the link between inflation and stock returns. Finally section 2.4 examines the methodological literature on inflation and stock returns. 2.2 Theoretical Literature Review on Inflation and Stock Returns The Fisher hypothesis suggests that there is a positive relationship between interest rates and inflation. (Berument Jelassi, 2002) Fisher (1930) argues that nominal interest rate is entirely a sign of the existing information in relation to the likely future values of the rate of inflation. This hypothesis has come to be known as ‘‘the Fisher effect in the economic literature; it states that expected nominal rates of interest on financial assets should move one-to-one with expected inflation. Choudhry (2001) Fisher hypothesis, in its strict sense, predicts a positive homogeneous relationship of degree one between stock return and inflation. (Luintel Paudyal, 2008) The proxy-hypothesis was introduced by Fama (1981) to explain the predominance of negative stock return-inflation trend. The main principle on which Famas version of the proxy-effect hypothesis is based on is the observed negative relationship between inflation and stock returns which appears to be spurious since this relationship is a result of the positive relationship that exist between stock returns and expected economic activity and an inverse relationship between expected economic activity and inflation. Inflation simply serves as a proxy for expected economic activity in a statistical relationship between stock returns and inflation. (Lee U. , Monday, June 22 1998) The proxy hypothesis states that the negative relationship between inflation and stock returns is spurious and really only proxies for the positive relationship between stock returns and real variables. Previous testes of the proxy hypothesis have used actual values instead of forecasted values for the real activity variable. (McCarthy, Najand, Seifert, 1990) did not find a support for the proxy hypothesis using only forecasted variables. Gonedes (1981) the failure to use indexation means that real income tax rates will vary directly with rates of inflation. This substantive effect of mere bookkeeping methods is frequently predicted even though it is known to have some adverse implications. This is the tax effects of inflation hypothesis. 2.3 Empirical Literature Review on Inflation and Stock Returns The empirical literature on the impact of inflation on stock returns records major contribution by different scholars over the years. But the empirical evidence provided by most of these studies has been mixed, and a consensus has not yet emerged. While studies like Pierrel and Kwok (1992), Geske and Roll (1983), Floros (2002), Ugur (2005), Yeh and Chi (2009), Pesaran et al (2001), Den Haan (2000), Crosby (2001), Syros (2001), Roohi and Khalid (2002) among others have found a negative relationship between inflation and stock returns; Boudoukh and Richardson (1993), Graham (1996), Choudhry (2001), Patra and Posshakwale (2006) and Lee et al (2000) among others reported positive relationship between these variables. Concerning the review of the approaches of modeling the effect of inflation on stock returns, Pierrel and Kwoks (1992) estimates and tests the alternative versions of hypothesis that explain the relationship between these two variables. The study employs distributed lags in order to empirically arrive at a dynamic structure of inflation. Pierrel and Kwoks concluded that this dynamic structure conform to Fama (1981), Benderly and Zwick (1985), and Geske et al (1983) hypothesis that suggest a negative relationship between inflation and return on stocks. Yeh and Chi (2009) tested the validity of the various Hypotheses that explain this relationship. The empirical result of this study on 12 OECD countries shows that these countries exhibit a short-run negatively significant co-movement between stock returns and inflation. Moreover, countries like Australia, France, Ireland and Netherland do not display a long-run relationship between the two variables in equilibrium. This result is consistent with the hypotheses of Fama (1981), Modigliani et al (1979) and Feldstein (1980) which suggested that an increase in inflation reduces real returns on stock. This result is also in line with Caporale and Jung (1997) and Rapach (2002). They argue respectively that there exist a negative significant effect of inflation on real stock returns after controlling for output shock and that inflationary trends do not erode returns on stocks. The Fishers Hypothesis was tested by Spyros (2002). His results reflect a contrary view that returns on stocks hedges inflation. This study shows that there is negative but not statistically significant relationship between inflation and stock returns in Greece from 1990 to 2000. In this same vein, Floros (2002) carried the same study on Greece economy and concluded that inflation and stocks in Greece should be treated as independent variables because the result of the various test conducted show that there is no relationship between inflation and stock returns in Greece. Crosby (2001) investigates the relationship between inflation and stock returns in Australia from 1875 to 1996 and found out that the Australian economy does not experience permanent changes in inflation or stock returns. The result shows that there exist short-run negative relationships between these two variables that depend on the period of time that is considered. On the contrary, Lee et al (2000) examine the impact of German hyperinflation in the 1920s on stock returns. This result of this study show that the hyperinflation in Germany in early 1920s cointegrates with stock returns. The fundamental relationship between stocks returns and both realized and expected inflation is highly positive. They concluded that common stocks appear to be a hedge against inflation during this period. Choudhry (2001) in his study on the impact of inflation on stock returns in some selected Latin and Central American countries (Argentina, Chile, Mexico and Venezuela) from 1981-1996, reveal that there is one- to-one relationship between the current rate of nominal return and inflation for Argentina and Chile. Their result also reveals that the lag values of inflation affect stock returns and this result infer that stocks act as a hedge against inflation. Patra and poshakwale (2006) conducted a study on the impact of economic variables on market returns in Greece from 1990 to 1999. Empirical results show that some macroeconomic variable like money supply, inflation, volume of trade and exchange have both short-run and long-run relationship with stock price in equilibrium in Greece while there was no short-run or long run relationship noticed between exchange rate and stock prices. Ugur (2005) in a study on the effect of inflation on return on stocks in turkey from 1986 to 2000 reveal that expected inflation and real returns are not correlated. The results suggest there is a negative relationship between inflation and stock returns which may be caused by the negative impact of unexpected inflation on stock returns. This results did not contradict Fisherian hypothesis because of the non correlation of inflation and real returns but the results is in line with the proxy hypothesis since a negative significant relationship exist between the two variables. Aperigis and Eleftheriou (2002) results also concurred that there is negative link between inflation and stock returns in Greece than in interest rate and stock returns. Similar study like Adrangi et al (1999) and sellin (2001) also support the proxy hypothesis. Khil and Lee (2000) in their study on ten pacific-rim countries and the US that all the countries except Malaysia reveal negative relationship between in flation and stock returns. The tax-effects Hypothesis which asserts that there is negative relationship between inflation and stock returns was tested by Geske and Roll (1983). Empirical result from the reveal that random negative or positive real shock affects stock returns which in turn, signal higher or lower unemployment and lower or higher corporate earnings. This has effect on the personal and corporate tax revenue leading to increase or decrease in the treasury through borrowing from the public. The economy paid for this debt by expanding or contracting money growth and this would lead to higher or lower inflation. They concluded that random shocks on stock returns are both fiscal and monetary in nature in the U.S.A. Roohi and Khalid (2002) considered the Efficient Market Hypothesis and Rational Expectation Theory to investigate the effect of inflation on stock returns. Empirical results of the study suggest that the relationship between real stock returns, unexpected inflation and unexpected growth are negatively significant. They concluded that the control of real output growth makes the negative relationship between these two variables to disappear over time. 2.4 Methodological Literature Review on Inflation and Stocks Returns The empirical relation between inflation and stock returns has been investigated through various approaches since the 1970s. Spyros (2001), adopted Vector-Auto regressive (VAR) model and the cointegration test to confirm if there was any relationship between inflation and stock returns in Greece. Pierrel and Kwok (1992) investigated the relationship between stock returns and inflation in the United State between 1962-1992 using Vector- Autoregressive (VAREC) model, and Granger Causality, Crosby (2001), used Vector-Autoregressive (VAR) model, Ordinary Least Square (OLS) and correlation analysis to examine the relationship between inflation and stock returns in Australia from 1875-1996. Floros (2002), investigated the relationship between stock returns and inflation in Greece from 1988-2002 by considering both the lag and lead periods of inflation and stock returns using Ordinary Least Square (OLS), Johansen Cointegration Test and Pairwise Granger Causality Test. In this same vein, Ugur (2005) used the Ordinary Least Square (OLS) and Standard Granger Causality to examine the relationship between inflation, stock returns and real activity in Turkey. Choudhry (2001), estimate the impact of inflation on stock returns in some selected Latin and Central American countries using the Auto-Regressive Integrated Moving Average (ARIMA), unit root test and spectral regression model. Lee et al (2000); and Geske and Roll (1983), also used ARIMA, OLS and unit root test to investigate the effect of German hyperinflation and stock returns, and the impact of inflation on stocks returns in the USA respectively. Patra and Poshakwale (2006) on the other hand, used the Error Correction Model (ECM), Johansen Cointegration Test and Pairwise Granger Causality Test to show if economic variables such as money supply interest rate, exchange rate, volume of trade and stock prices have impact on stock returns. Yeh and Chi (2009) in their study on 12 OECD countries measures correlation at different forecast horizon by using Autoregressive Distributed Lag (ARDL) bound test, unit root test and confidence interval method to investigate the inflation illusion hypothesis that suggest that there is negative relationship between inflation and stock returns. Pesaran et al (2001) and Den Haan (2000) also employ the same technique and arrive at the same result. This study examines the relationship between inflation and stock returns in Nigeria. Furthermore a test is carried out to see if theres a cointegration and causality within these variables. Methods used in this study are explained in chapter three. This study fundamentally aims to analyses the above relationship for a period of 1st of January 1997-31st of December 2006 .monthly values of the Nigerian Stock Exchange (NSE) and Nigerian Consumers Price Index (CPI). CPI was collected from the Central Bank of Nigerian Statistical bulletin (2006), while (ASI) All Share Index was collected from Nigerian Stock Exchange data bank. The reviews of literature above reveal that there are basically four major hypotheses discussing the relationship between inflation and stock returns. These theories are Fisherian hypothesis, proxy hypothesis, tax-effect hypothesis and inflation illusion hypothesis. Considering the level of price stability in Nigeria over the period of our study, the study seeks to adopt Fisherian hypothesis which suggest that stock hedges inflation. This is based on the fact that literature suggests that the price of stock is a major determinant of stock returns which is affected positively by expected or unexpected inflation (consumer price index). CHAPTER THREE MODEL SPECIFICATION AND METHODOLOGY 3.1 Introduction This chapter covers the theoretical framework, specification of the models utilized in the study as well as the methodologies that will be adopted. Accordingly, the estimation procedures, and data requirements; types and sources of data are also discussed in this section. 3.2 Theoretical Framework The reviews of literature in chapter two reveal that there are basically four major hypotheses discussing the relationship between inflation and stock returns. These theories are; 1. Fisherian hypothesis 2. Proxy hypothesis, 3. Tax-effect hypothesis and; 4. Inflation illusion hypothesis. The Fisherian hypothesis is thus specified; Where is the real returns, is the actual inflation which is the combination of the unexpected and expected inflation. While is the error term that is distributed randomly and normally with zero mean and constant variance. This sign of determine if the specification is in line with the fisherian hypothesis. Thus; a significant and positive sign suggest that stock hedges inflation while a negative sign suggest contrary. 3.3 Model specification Based on the outcome of our theoretical framework which attempts to explain the relationship between real stock returns and inflation, we specify the model for estimation. Stock return represented by all share indexes (ASI) is the dependent variable while the explanatory variables are, one-period lagged inflation represented by consumer indexes (CPI) and one-period lagged stock returns (ASI). This is based on the common belief that stock returns (ASI) takes some time to react to inflationary changes (ΔCPI) and changes in all share indexes (ΔASI). In this study, it is assumed that stock returns depend on a set of variables denoted as: Therefore, our empirical specification is stated as: 1 3.4 Methodology and Estimation Procedures This study makes use of Augmented Dickey Fuller (ADF) unit root test to check for the stationarity of the series used in this study, Engle and Johansen cointegration tests is used to confirm if the series have long run relationship while causal long run relationship is determine using an Error correction Model (ECM) which will reveal both the short run and long run relationship between inflation (LOGCPI) and stock returns (LOGASI). 3.4.1 Unit Root Test Assume we have the following AR (1) process: (1) and is a white noise error term. We can manipulate the above expression by subtracting from both sides; Thus: (2) In practice, instead of estimating equation 1, we estimate equation 2 and test the hypothesis that =0. If =0 then that is we have unit root meaning the time series is non-stationary ( for unit root is non-stationary). Thus we can take the first difference of and regress on to see if () is zero or not in order to confirm if the series are stationary or not. Under the null, the estimation for ÃŽ ´ is not distributed T-student, so the Dickey Fuller test is required. We use the Augmented Dickey Fuller (ADF) table to correct for possibility of the error term () been auto correlated. The ADF test is specified in the equation below: 3 Where is a white noise Error Term. 3.4.2 Co integration Tests Trended data can be regarded as potentially a major problem for empirical econometrics. Trends may give rise to spurious regression and uninterpretable t- statistics. The stack reality is that in economics most time series are subject to some type of trend while differencing in series until it becomes stationary is one major solution. This has been shown that differencing can lead to loss of long run properties of a series. Based on this the combination of series that are difference once I(1) will give us a model that is stationary I(0). In achieving this aim this study consider two different co integration tests which are; Engle and Granger co integration test and Johansen co integration test. According to Engle and Granger (1987), a time series and are said to be co integrated of order db where d ≠¥ b ≠¥ 0 written as: CI (db) if: Both series are integrated of order d There exists a linear combination of these variables say; which is integrated of order d-b. The vector and is called a co integrating vector. The Engle and Granger co integration test involve two steps; the first step is conducting an OLS regression on the variables in the model specification. The second step is to conduct an ADF test on the residual from the regression if the residual is stationary, then the series are said to be co integrated. The Johansen co integration test on the other hand involves the use of a VAR model and the different maximum likelihood ratios are used to determine the co integrating vectors. These tests are; trace test and maximum eigen value test. Different information criteria such as Akaike Information Criterion, Schwarz information criteria (SIC), Hannan-Quinn Information Criterion, Final Prediction Error and Sequential Modified test Statistic are used in determining the lag length. 3.4.3 Error Correction Model Co integration analysis provides a test for spurious correlation. Finding co integration between apparently correlated I(1) series validate the regression but failure to find co integration is an indication that spurious correlation maybe present thus invalidating the inferences drawn from such correlation. Co integration analysis also helps in formulating the process of dynamic adjustment. However time series data lose their long run properties when they are differenced; allowing only for conclusions on the short run determinations. Therefore there is a need to construct a model that would combine both the short run and long run properties of the variables in the model. As suggested by Engle-Granger representation theorem that if two series are co integrated then they will be efficiently represented by an error correction mechanism. The Error Correction Model is used to capture both the short run and long run properties of the series. The method involves developing a model from it g eneralized form (over parameterized) to a specific form (parsimonious). In addition if the series are co integrated these dynamic specifications will encompass any other partial adjustment model. The error correction of the Auto regressive distributed lag (ADL) takes the form: where the long run properties are derived from the proportionality between and. The above specification relates the short run change in the dependent variable to the short run change in the explanatory variable.this is called the impact effect () but ties the change to the long run impact through a feed-back mechanism. 3.5 Data The study will utilize monthly time series data from 1997–2006. Data for the variables will be sourced from Central Bank of Nigeria Statistical Bulletin (2006) and the Nigerian Stock Exchange Annual Reports (2006). The variables of interest in this study are all in logs. These variables are; consumer price indexes (CPI) as inflation series and all share indexes (ASI) as stock returns. CHAPTER FOUR SUMMARY OF EMPIRICAL RESULTS The summary of the statistics used in this empirical study is presented in the appendix. As can be observed from the Table, (see pagexx) the mean value of stock returns is 9.359606 while inflation is 8.442205. It is also observed that both LOGCPI and LOGASI are positively skewed. The kurtosis value is positively low and Jarque-Bera (J-B) statistic test value is relatively high. These suggest that the two series are skewed to the right. Figure1below depicts the graphical illustrations of the data that were used in this empirical analysis. The figure reveals that stock return witnessed significant increase within the period of this study. Figure 1: Graphical illustration of statistics used in the analysis Table 1: Stationarity Test Result Variables Levels First Differences ADF 1 ADF 2 ADF 1 ADF 2 LOGASI 0.712327

Developing Ethical Leadership

An ethical leadership means leading with the sense of valuing ethical values or considering the old fashioned ways, beliefs and other values that people considers as valuable. It is the leading with all the sense of altruism, kindness, integrity, loyalty, and trustworthiness which are possessed by a certain leader. In this characteristics and considerations to be considered, a question to the ethical means of leadership rises when we pertain to the historical holocaust. In the Holocaust Museum located at Washington DC, a person who goes on visit inside the building will be able to be enlightened about the real meaning of the holocaust. Every image that certain people could see inside would make them feel the pain and the sufferings which the Nazi victims felt during the holocaust period. An example of an image which could lead a person back to the holocaust is the picture where the Americans felt the cruelness of the Nazi soldiers in some of the Nazi’s concentration camps or bases where Nazi soldiers tend to make their prisoners suffer. While inspecting further, a certain image will take the tourists’ attention wherein the image is a picture of a thin and almost dying man handing an aluminum bowl. This image conveys the period when the Nazi soldiers had their prisoners dying because of malnutrition, thus, it also conveyed the same period when the Nazi soldiers force their prisoners to do hard labors. Inside the museum can be seen a large map which shows how far and wide the conquering of the German leadership did during the holocaust period on the year 1941 until 1942. There’s also a part of the museum where all the countries involved during the world war is painted, in this hallway the painted parts were the glass windows. As the strolling inside the museum continues, there were a lot more figures and pictures which showed the cruelty of the Nazi soldiers led by the considered most cruel man on earth, Hitler. There’s a room inside the museum called â€Å"the tower of faces† wherein all the sides of the room are filled with hundreds of pictures posted. Those people’s pictures which are posted in the walls of the room are those who are involved in the holocaust, some are those who became a Nazi victim and some are those who contributed along the side of the Nazis. There’s another large image in the museum where one could see a group of people with the yellow star patch on their dresses just like on the movie â€Å"Schindler’s list† which is used by the Nazis to easily determine if such a person belonged to the Jewish people. In general, there are 900 artifacts displayed in the museum, 70 video monitors which shows all the cruelty of the Nazis towards the Jewish people, and in the second floor of the museum, a tourist could realize and notice how the non-Jewish people risk their lives by trying to save some of the Jews. For the last destination of the tour, tourists are allowed to watch a film entitled the Testimony wherein those who survived the tragic holocaust narrated their real life story. The film would last for 60 minutes then after that tourists are then led to a hall where they could light their candle for the holocaust victims (Times, 2008). All the artifacts and the videos which are exhibited at the museum showed how the sense of true leadership was ignored and were not present at the period of the holocaust. The cruelness of the Nazi depicted how heartless Hitler is as a leader. The moral responsibilities of the Germans were being taken for granted; a part of their ethical culture considers a mean kind of political values. Because of the continuous reigning of power and territory to the wealth of the Germans, they’ve build up a confidence wherein they exceeded to the extent that they thought they could rule everywhere and that they are the most superior people who exist (Jones, 1999). According to the understanding of ethical leadership, leadership should involve a not coerced relationship between the leader and his people or the people who are under the coverage of his power. In Hitler’s situation, he has violated such an important consideration regarding with how he should have governed his people. The holocaust created a devastating nature of leader-people relationship; lots of Jewish people were forced to work under the supervision of the Nazis and they are also forced to comply with whatever law the leader would implement (Price, 2006). The Jewish people should have been heard with their cries but instead they were oppressed and suppressed by the political system during the holocaust. Since good leadership means both technically and morally benefiting, it is clear that though Hitler technically made a great contribution to Germany, he created an opposite effect to the morality of his being a leader (Price, 2006). An evidence of this statement can be seen at the museum wherein lots of Jewish people are a group exposed without any clothing and are humiliated in front of those non-Jewish aristocrats or politically involved people. A morally and technically good leader aims for the betterment of his country as well as for his people. In this way, the justification of the leadership would be justified under ethically valid leadership but the whole success of Hitler by aiming power and territory altered the evaluation of his leading by simply killing most of the Jews (Price, 2006). Hitler never considered saving even a single child soul but instead he commanded that all Jews must be seized and killed just like Anne Franks who wrote her own diary about the whole holocaust. In the entire world’s history, Hitler made the worst kind of violation of ethical leadership wherein morality is considered as a single pin of needle between million strands of hair. In taking the great responsibility of being a leader, morality is easily recognized, thus, it is the reason why there is a study of ethics in order to justify the true essence of leadership. Adolf Hitler, as a leader, allowed exploitation such as rape and humiliation of Jews during his leadership, he used his position and power to gain the authority over other people and instead of using it in order to command people to widen or do something to develop their territory more, he used his authority to do what he wanted and that is to rule his coverage with an undefeated power wherein all people fear and almost worship him (Ciulla, 2003). The essence of leadership changed through the period of time, though however one may look and analyze the way that Hitler led his people, no one would say that he is a great leader. The positive side of his being a leader such as being a great conqueror who contributed more territories in the history of Germany is overlapped by all the negativities of his other deeds such as killing, exploiting, oppressive and suppressive leadership, and most of being a leader who acted as he does not have a heart at all. Whenever one would walk into the Holocaust Museum which has all the memories of the tragic holocaust inside, a certain person will fell the outburst of pain and sadness empathizing the victims of the holocaust. A horrifying movie which could be directly compared to the event during the holocaust is the Schindler’s list where all Jewish people were cruelly shot without any good reason, raped without the ability to refuse, exploited and humiliated, and forced to work without being provided enough amount of food to gain energy from (Spielberg, 1993). This experience of going to the Holocaust Museum made me realize that a good leader does not much contribute to his/her most way when he/she does not consider the goodness of his/her will towards his/her land and people. Thus, no matter how a leader conquers and rules the whole world under his authority, the true sense of leadership will still be judged on his moral or generally ethical deeds onward his ruling and loyalty to his obligation as a good leader. This reveals the fact that no matter how small or few a leader’s contribution is to his land, he will still be considered a good leader as long as he works for the betterment and sake of his land and people. References Ciulla, J. B. (2003). Ethics and Leadership Effectiveness [Electronic Version]. Retrieved January 13 from http://www.sagepub.com/upm-data/5284_Chapter_13_Antonakis.pdf. Jones, D. H. (1999). Moral Responsibility in the Holocaust: A Study in the Ethics of Character: Rowman & Littlefield. Price, T. L. (2006). Understanding Ethical Failures in Leadership: Cambridge University Press. Spielberg, S. (Writer) (1993). Schindler's List. In Universal (Producer). USA Times, N. Y. (2008). United States Holocaust Memorial Museum [Electronic Version]. Retrieved January 12 from http://travel.nytimes.com/travel/guides/north-america/united-states/washington-dc/attraction-detail.html?vid=1154654609095. ; ; ; ;