The Soveregin Euro Crisis - 2467 Words

Introduction The sovereign Euro crisis inflicting the Euro zone nations have both internal integration significance and international economic. It rarely truncated the internal integration of economic crisis but also accentuate effects to immediate distant nations including Australia (Malcolm Edey, 2011). The Euro zone member states experienced sovereign debt crisis which largely affected international economic and European integration. Regional economic crisis had immediate and clear effects on the far off nations including Australia. The sovereign debt crisis emanated from Euro zone governments facing bond market rates and unsustainable to repayments. These culminated in low resolution measures and high public debt (Prideaux, 2000) This meant potential decline in the GDP and decreased levels of exports. The EU summit was seen as a hope to a resolution of the European crisis but the agreement by the European leaders lacked focus on resolving the immediate issues. Its great attention was guarante eing the survival of the Euro zone in its current form. There is a real possibility of departure of one or more countries from the Euro zone. Financial markets geographically distant from Europe to face European crisis. Australia has over the last four years resisted the impending decline of economic recession as a result of the Euro crisis (Parkinson, 2011). Following the US sub-prime aggravated the global financial crisis as it defiantly causes an economic recession in most of

History of Theatre Lesson Notes Essay - 5401 Words

Lesson 1: Origins of Theatre Learning objectives: List the performance elements and understand their role in both ritual and theatre: time, place, participants (players, audience), scenario (agenda/goal/text/rules), clothing (uniform, costume, mask, makeup), sound (speech, music), movement (gesture, pantomime, dance), and function or purpose. Can be clock or fictional time, places vary (designed to meet needs), rituals might take place in one space or they might involve a procession with portions of the ritual being performed at various places along the way, elements can be combined, ritual and theatre employ the same basic elements as other human activities do but have diff purposes in mind and choose the particular form needed 4 each†¦show more content†¦Egyptians maintained an advanced civilization for some 3k years and never developed theatrically beyond ritualized performances, repeating the same ceremonies year after year for centuries. Theirs was a society that resisted changes that might have led to an autonomous t heatre. Define the vocabulary terms and state their significance to theatre history: performance elements-activities which encompass most human transactions and make use of a number of common elements: time, place, sound, etc. How they are treated and for what purpose, distinguishes one kind of transaction from another. Ritual-a religious or solemn ceremony consisting of a series of actions performed according to a prescribed order (theory that theatre originated from this, stories arise from these and this leads to reenactments of them). Cultural Darwinism-theory about evolution of biological species that theorists who came up with the ritual origination extended to include cultural phenomena-and consequently they assumed that human institutions including theatre, evolved through a process in which there was a steady development from the simple to the complex. 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Favourable And Unfavourable Globalisation â€Myassignmenthelp.Com

Question: Discuss About The Favorable And Unfavorable Globalization? Answer: Introduction The report focuses on understanding and evaluating the impacts of globalisation on different international economies based along four main factors like marketing, costs, operations and finally along competitive factors. It focuses on reflecting both the favourable and unfavourable influences of globalisation along such factors. Empirical inferences are aimed to be gained from the study of journal and books associated with the research topic. Concept of Globalisation Globalisation is identified as the process through which people and business institutions operating in specific industries based along a certain nationality tend to interact and integrate with people from the same industry dwelling and operating along international markets. Further, the aspect of globalisation also reflects the incorporation of information technology resources that contribute in the growth of interactions both along the social and commercial platforms while also contributing to the growth trade and investment activities along international frontiers(Beck, 2015). Market Influences of Globalization The aspect of globalisation generates both positive and negative influences on marketing. In terms of favourable influences the aspect of globalisation contributes in generating economies of scale through standardisation of marketing operations and also other functions associated with packaging and marketing communication activities. Further, the aspect of globalisation also contributes in enhancing the speeding of the products and services to the market. The firms that are globalised are characterised in terms of central planning functions and thereby contribute in the generation of new product introductions within a span of one year. Moreover, in terms of globalisation the product or service companies gain the potential for developing an international brand name and identity. The same contributes in reduction of the level of marketing communication required to be generated by companies for targeting effective market segments associated with employing the product or service. Similar ly, the advent of globalisation also helps the product or service companies to generate effective expansion of its target markets. This in turn contributes in enhancing the sales volume for the products or services. Finally, the advent of globalisation also helps the business institutions for gaining potential access to resources and financial supports for production of goods and services in large volumes(Filatotchev, Bell, Rasheed, 2016). Unfavourable Influences The existence of centralised planning and decision making units tends to affect the speeding up of the decision taking activities concerning addressing of needs of local consumers and also in effectively combating the actions of the local competitors. Further, the reduced contacts of marketing managers based at headquarters with the local consumers and markets affect the potential of the marketing strategies developed by them. Again, the impact of a problem emerging in a local country and its influence on the global brand tends to be increasingly communicated over the global market in the era of globalisation. The same makes the product or service brand vulnerable to reduction in global market demand. Again, from the consumer viewpoint the generation of standardised products and service designs and also marketing operations tends to affect the level of customer satisfaction for the product or service firms. From a national point of view, the influence of globalisation tends to create a threat to the different nations causing them to lose their identity and culture(Naghi Para, 2013). Cost Influences of Globalisation Favourable Influences The aspect of globalisation contributes in the development of free trade agreements such that countries tend to specialise on the production of such commodities regarding which they have potential access to material and other types of resources. Specialisation in the production of goods and services in turn contribute in reducing the prices of such for the consumers while also in helping the consumers gain access to large number of product choices. It also generates greater economies of scale and reduces the level of competition. Moreover, the emergence of globalisation also contributes in helping the development of products along different regions. The same contributes in reducing the average cost of production and thus reduces the prices for the products. Similarly, the aspect of globalisation also helps in reducing the existence of monopolies along different markets. Reduction of monopolies and increase in the level of competition helps in reducing the price structure for the prod ucts. Again, the advent of globalisation has also contributed in the flow of investment to a region or nation from different other nationalities. The same helps in development of the economic situation in the region and thus also reduces the impact of costs(Shen, Wei, Yang, 2017). Unfavourable Influences The existence of free trade owing to globalisation affects the operations of the developing markets and benefits the developed regions. The aspect of globalisation is also observed to enhance the level of environmental cost for the different economies owing tom increased spending of non-renewable energy sources and also the growth of pollution emanating from logistics and operational activities. Globalisation also contributes in increasing the amount of labour cost for the different industries in that labours tend to move over to those regions in like industries where they would access to increased wages and salaries. The same reduces the availability of labour in the poorer economies thereby making them depend on sourcing greater amount of labour thereby increasing costs(Dunford, Dunford, Barbu, Liu, 2013). Influences on Operational and Functional Activities Favourable Influences An analysis of the Turkish Electric Industry reflects that the impact of globalisation has resulted in generation of rapid technological changes and also in the emergence of new opportunities that in turn generate a positive effect on the delivery speed of the sector. Moreover, the influences of globalisation also contribute in the expansion of trading activities along the sector while also helping in the growing of logistics activities and technological framework in the region. Similarly, the advent of globalisation also contributes in promoting greater opportunities for the electricity industry in Turkey. The above factors act as potential triggers for the enhancement of the speed of delivery of the services which in turn amounts to growth in profit. Further, the different types of threats amounting from globalisation like increase in the level of cost pressure and growth in the generation of new market opportunities have in turn contributed in enhancing the level of flexibility of the current level of electric operations conducted in the region. The owners and business managers in the Turkish Electric Industry are required to generate products with needed flexibility for meeting of customer needs in an enhanced fashion. It helps in the growth of competitiveness for the industry and thereby contributes in effectively surviving under potential cost pressures. Similarly, the electric industry of Turkey for potentially exploiting the new market opportunities is required to develop new products and also create greater product assortments within a shorter period. The same also enhances the level of competitiveness of the firm(Sengul, Alpkan, Eren, 2015). Unfavourable Influences The impact of globalisation potentially tends to impact the operations of the multinational enterprises. It is observed that firms failing to effectively manage and monitor the operations of the international branches suffer from operational losses and margins. The firms are also required to generate training mechanisms for training the foreign staffs on the objectives of the firm and also the regarding enhancement of customer satisfaction. The same enhances the training and manpower development cost for the organisation. Moreover, the intake of expatriate staffs by the firms is also observed to affect the operational scenario in that the expatriates reflect lesser empathy to the needs of the local and regional markets and act based on the understandings gained from their home market. The same affects the operational scenario of the firms thereby amounting to loss of operational and business margins(Stefko Sojka, 2015). Influences on Competitive Factors Favourable Influences The advent of globalisation contributing in the movement of international firms to emerging or developing markets is made possible through the opening up of branches in specific regions. The global firms having opened branches in key international markets demand the availability of needed expertise that would help in meeting the needs of business and its customers. This accounts for the development of the existing skill or human resources base in the international markets through the development of educational and training institutions where they contribute in the development of effective human resources. The above fact thereby helps in the development of the competitive advantage of the regions. Similarly, the growth of globalisation also contributes in the flow of potential investments in the form of Foreign Direct Investments (FDI) from foreign markets. The investment is potentially employed for developing the innovation potential of the region and the different industries which i n turn contributes to growth of competitive advantage. Innovation coupled with needed resources rightly contribute in the development of quality products and services for meeting the needs of diverse customers(Kupfer, 2014). Unfavourable Influences The advent of globalisation makes the firms more vulnerable to growth of competition such that foreign firms operating in the like industry would tend to gain on increased market share through gaining access to scarce resources. The same affects the operational potency of the firms operating in the home country. Moreover, the entry of foreign firms in the existing market fuelled by globalisation contributes in the development of novel market forces and also tends to change the regulatory and legislative situation. The same contributes in affecting the business operations of the firms in the home market. International firms aiming to enter a foreign market are made possible through the development of large number of franchisees and also development of partnerships and joint venture with local firms. The above strategy undertaken by the big international firms potentially affects the market of the local and regional firms(Gerber, 2012). Conclusions The report effectively highlights on the concept of globalisation while also reflects on both the positive and negative influences of globalisation along different factors like market, cost, operations and finally along the competitive forces. Empirical and secondary inferences are gained from consulting different journals and books associated with globalisation and its impact on the stated factors References Beck, U. (2015). What Is Globalization? United Kingdom: John Wiley and Sons . Dunford, M., Dunford, R., Barbu, M., Liu, W. (2013). Globalisation, cost competitiveness and international trade: The evolution of the Italian textile and clothing industries and the growth of trade with China. European Urban and Regional Studies , 1-25. Filatotchev, I., Bell, R. G., Rasheed, A. A. (2016). Globalization of Capital Markets: Implications for Firm Strategies. Journal of International Management , 22 (3), 211-221. Gerber, D. (2012). Global Competition: Law, Markets, and Globalization. United Kingdom : OUP Oxford. Kupfer, A. (2014). Globalisation, Higher Education, the Labour Market and Inequality. New York : Routledge . Naghi, R. I., Para, I. (2013). The Effects of Globalization on Marketing. GSTF Journal on Business Review , 2 (3), 168-173. Sengul, M., Alpkan, L., Eren, E. (2015). Effect of Globalization on the Operational Performance: A Survey on SMEs in the Turkish Electric Industry. International Business Research , 8 (7). Shen, J., Wei, Y. D., Yang, Z. (2017). The impact of environmental regulations on the location of pollution-intensive industries in China. Journal of Cleaner Production , 148, 785-794. Stefko, R., Sojka, L. (2015). Analysis of the Impact of Globalisation on Selected Indicators of Firms' Activities. European Scientific Journal , 1, 149-162.

Vanraj Tractors free essay sample

- VANRAJ MINI-TRACTORS - The case depicts the dilemma of a decision-maker Mr Trivedi who has to select an appropriate segment for marketing the 10 horsepower (HP) Vanraj Mini tractor in the states of Gujarat, Madhya Pradesh, Maharashtra and Uttar Pradesh. The four segments identified for Vanraj tractors: small and marginal farmers, large farmers, industries, and horticulture farmers. Vanraj was economical and could perform almost all the functions of a big tractor at lower costs serving multiple purposes and uses. It provided added and immense advantage over the existing Chinese made mini-tractors and bullocks used by small farmers and the existing market players catered to the larger farmer segment considered lucrative and substantive in nature with a higher level of mechanization. India has emerged as the world’s largest market for tractors and the small and marginal farmers are dominant in terms of numbers but no player currently serving this segment. Mr Trivedi found a huge market potential in the small and large farmer segment as they had a latent demand and believed that this segment was the most appropriate target market for Vanraj but the other board members advised him to consider and study the feasibility and profitability from the other identified segments before deciding to freeze a particular target segment. We will write a custom essay sample on Vanraj Tractors or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Decision Problem 1. Selecting an appropriate target segment for Vanraj among the 4 identified segments. 2. Determining the appropriate price level for Vanraj to be sold in the selected segment. Analysis Vanraj was designed for agricultural and transportation purposes with a robust and versatile technology. The segment demarcation and selection is crucial as the overall marketing strategy will get modified wherein each segment has a completely different industry structure and competitive environment. Vanraj was design to address most of the problems faced by small and marginal farmers which no other big tractor was able to do. This had led Mr Trivedi to believe in its perfect fit to the needs of this particular segment of farmers. STATE| ANNUAL SALES (in units)| Gujarat| 17345| Maharashtra| 28443| Madhya Pradesh| 15288| Uttar Pradesh| 54392| Table 1: Average past sales of tractors in respective states The high fragmentation of agricultural landholdings with 82% held by small and marginal farmers with an increasing role of mechanization to increase foodgrain production provided a boost to tractor sales in India over the last two decades. The size of landholding did not inhibit the use of tractors and with declining size of landholdings per farmer; the big tractors were not economically viable for use in such farm sizes. The issue was that horsepower of tractors was increasing and size of landholding was declining which led to the exclusion of the small and marginal farmer segment from the purview of tractor companies. Demographic segmentation Small and marginal farmers| Large farmers| * Large in number * Small landholding (average 1. 4 to 0. 4 hectares) * Engaged in subsistence farming * Uneconomical for farm mechanization| * Small in number * Large landholdings (average 3 hectares) * Engaged in commercial farming hence earning high income * High levels of farm mechanizations| Geographic segmentation Northern India (UP)| Western and Southern India (Gujarat, Maharashtra MP)| * Soil is alluvial and fertile * Requires lower horsepower tractors * Area under horticulture farming 1066 (‘000 hectares)| * Harder laterite and black soil * Requires higher horsepower tractors * Area under horticulture farming 1550 (‘000 hectares)| Breakeven analysis Actual production of the ‘Vanraj’ varies from 300 to 480 across the seven years. The cost of production also varies from Rs. 471. 84 lakhs to Rs. 758. 76 lakhs. The average cost of production per tractor thus comes around Rs. 1. 58 lakhs. Considering profit after tax, dividend, depreciation and contingent expenses the net cash accrual for first to second year ranges from Rs. 7. 1 lakhs to 9. 5 lakhs. The overall profit comes to 7. 1-9. 5%. The sales realization against 300-480 tractors will range from Rs. 570 lakhs – 912 lakhs from the first to the seventh year. Thus, the price of ‘Vanraj’ mini tractor can be fixed at Rs. 1. 9 lakhs. The breakeven sales at 100% capacity can be Rs. 11. 40 Millions. Segment I: Small and marginal farmers In India, small farmers traditionally relied upon bullocks for all their agricultural needs. Therefore, the main competitor for Vanraj Mini tractor were bullocks rather than other Chinese make mini tractors which were not suitable for Indian trying conditions. | Bullocks (2 no. )| Vanraj| Other small tractors| Initial cost| Rs 0. 027m| Rs 0. 19m| Rs 0. 16m| Life span| 8-9 years| 8-9 years| 6-7 years| Other cost(fuel or fodder costs)| Fodder = Rs 17500*11 yrs = Rs 192500| Fuel = 950 hrs*1. 5l/hr*Rs 3. 3/litre*8 = Rs 376200| Rs 376200| Maintenance costs| Nil| 15% of selling price = Rs 0. 03 m| 40% of selling price = Rs 0. 6 m| Total cost incurred (for 8 year usage)| Rs 2,19,500| Rs 5,96,200| Rs 5,96,200| Challenges Though, using mechanized equipment rather than bullocks would increase efficiency in agricultural methods, total cost incurred on Vanraj mini is 3 times more when compared with total cost incurred on bullocks. The technical factor of maneuvering across a small landholding po ses some problem. The vagaries of monsoons coupled with fluctuating crop production may encourage farmers to hire big tractors whenever the need arises instead of owing a tractor which may end up becoming a liability for the marginal farmer. Hence, it is not economical for small farmers. It is more economical for farmers to hire a big tractor which can supplement the existing bullocks. This way they would be saving time and work  more efficiently. Hiring charges = Rs 250/hr; usage = 950 hrs per year; total yearly cost = Rs 237500 if replaces bullocks fully. Thus if a farmer is totally dependent on hiring, Vanraj may be a profitable option for him but as per Indian context, hiring provides farmer with the flexibility and also one cannot be sure about the number of such farmers. The market segment analysis for the tractors reveals the following facts: TRACTORS MARKET SEGMENT Segment| Sales Distribution (in %)| Price (millions) (subsidy Rs 30k for 30 HP)| Growth rate (overall 30%)| Consumption| 50 HP| 4. 5| | 17. 88| | The cost of tractors is varying from Rs. 0. 10 Million to Rs. 0. 40 million and above. ‘Vanraj’ proves to be the better choice as compared to its Chinese counterparts on account of better reliability and performance. Hence even if it is priced a little higher people would still prefer it if they are made aware of the long term benfits. Its advantage over bigger tractors in terms of better manoeuvrability and easy access to small corners of land makes it quite a handy asset to posses. Thus, the price of ‘Vanraj’ tractor fixed at Rs. 0. 19 million seems justified and appropriate. Table 2: Driving factors for use of mini tractors for farmer segment States| Area under Fruits (ha) (year 2001-02)| Area under vegetables (ha) (year 2001-02)| Marginal farmers (year 2000)| Small farmers (year 2000)| Large farmers (year 2000)| Gujarat, MP, Maharashtra, UP| 1066. (10% increase)| 1548. 9 (10% increase)| 25415| 9681| 10472| If we combine the marginal small farmers we will find that the total number of farmers in this category comes out to be around 35096. Moreover this is the untapped section of the market. Since the installed capacity is only 600 tractors per annum. The company can supply around 4350 tractors. Moreover since the farmers are economically ill equipped they can form a group and buy a tractor for thei r common purpose. With the various problems which crop up now and again in case of the 3 competitors and also Chinese made Mini Tractors (10 HP segment) or along with the newly entering HMT(18-25 HP segment) ‘Vanraj’ can pounce upon this opportunity as it has the many advantages over the other Big Tractors like low cost, fuel efficiency, availability of spares, easy maintainability, high manoeuvrability and compatibility with various farming implements and since the tractor market is always served by the bank loans, impetus can be provided so as to become a frontrunner in this segment. Segment II – Horticulture Department The big tractors are unwieldy in negotiating their way through the small gap between the lanes in horticulture farms. Vanraj’s small turning radius and mini-size would make it easy to maneuver it through the small lanes of horticulture farms. The three-wheel convertibility option available in Vanraj would be of great use in interculture operations in Horticulture farms. * Savings on initial cost:  Vanraj Mini tractor price= Rs 0. 19 million. Least price of a Big Tractor= Rs 0. 4 million Savings= Rs 0. 05 million * Savings on fuel Cost:  Vanraj Mini Tractor consumption= 1. 5 litre/hr  Average consumption of a big tractor= 4 litre/hr  Savings in fuel= 2. 5 litre/hr * Saving in fuel cost = 2. 5*33 = Rs 82. 5/hr Estimation of market potential in horticulture segment Percentage change in area from 1991-92 to 2001-02 (approx. ) | Area under fruits(%)| Area under vegetables(%)| Maharashtra| 128| 67| Gujarat| 76| 103| Uttar Pradesh| -5| 35| Madhya Pradesh| -28| -23| The above table signifies a very significant growth in area under horticulture in the period from 1991-92 to 2001-02. In fact the total land under Horticulture in the yaer 2001-02 was around 2615. 6 hectares. As horticulture and plantations are practiced by relatively well off persons and also in comparatively bigger areas they can go for â€Å"Vanraj† tractors wherever feasible rather than spending on the bigger tractors. Thus there is immense potential in the horticulture segment. Recommendations Although Mini Tractors had just 1% share of the tractor segment, it was estimated that the small farmers still using bullocks formed a larger part of untapped market. * The small farmer segment offers a huge potential and can be marketed by highlighting and communicating the intrinsic benefits of Vanraj in economic and technical terms. * Horticulture sector presents a niche market for Vanraj. It is concentrated only in few pockets of  states. Hence, Vanraj marketing should focus o n such areas to fully tap the market potential. * Area under Horticulture saw a decrease in states like Madhya Pradesh. Hence, Vanraj should interact with farmers in this region, find out the reasons and give them proper advice and hence should try to create a market for them. Conclusion The horticulture segment and small and marginal farmer segments could be easily tapped as both segments required value for money which was offered by the Vanraj tractor as compared to other mini or big tractors. [ 1 ]. More than 30 HP tractors are referred to as big tractors and less than 20 HP tractors are referred to as mini-tractors in our case analysis.