Causes And Effects Of The Current Economic Crisis Economics Essay

Causes And Effects Of The Current Economic Crisis Economics Essay Overall economy is bullish; it is not only the stock exchanges that tell  riches to rags  stories but even  small businesses. It all adds to the national exchequer. An economist is likely to give a detailed, comprehensive definition of  recession. But for the layman who has been affected knows it only one way-when he loses his job and has no money to pay his  credit and loans.  Recession  is when the consumer faces foreclosure and the banker comes knocking for his pound (or dollar) of flesh. Many companies and whole countries go bankrupt for want of liquid funds and cash flow for even daily requirements.   If you look at it from the point of view of a businessman,  recession  is a transitory phase. The Business Cycle Dating Committee of the  National Bureau of Economic Research  has another definition. It profiles the businesses that have peaked with their activity in one season and it falls naturally in the next season. It regains its original position with new products or sales and continues to expand. This revival makes the  recession  a mild phase that large companies tolerate. As the fiscal position rises, there is no reason to worry.  Recession  can last up to a year. When it happens year after year then it is serious.   Are we facing a  recession  or not? Yes, for the simple reason that not only our neighbors but our friends are unemployed. There is less of business talk and more billing worries. Transitory recessions are good for the economy, as it tends to stabilize the prices. It allows run away bullish companies to slow down and take stock. There is a saying, when its tough the tough get going. The weaker companies will not survive the brief  recession  also. Stronger companies will pull through its resources. So when is it time to worry? When you are facing a foreclosure, when the chips are down and out and creditors file cases for recovery.   Firms face closures when they go through  recession  and are not able to recover from losses. If, at this time, they are not able to sustain their prices and stocks then there is more trouble. Even when the  recession  period gets over, they will not be able to do well. If a business survives a  recession  period they should be able to survive a depression. But how many  recession  proof businesses are there? Who will eventually survive the  recession?   1. Those that have been able to save their funds.   2. Those who have not invested in fly-by-night companies.   3. Those who remain clam till the storm passes.   4. Those that take stock immediately and decide to reinvest in a  recession  proof business. GLOBAL FINANCIAL CRISIS The world is seemingly inching towards recession .Companies are going bankrupt, stock market are nose diving and more employees are being laid off while companies struggle to cut cost. Looking theng back, it seems not so long ago when economies across the globe, especially india , were going through a boom . What went wrong ,then? Here,s a quick round up of the major events that bought the current economic downturn. 2001-2005: Housing prices shoot up in the US. Bank start lending aggressively, leading to the creation of sub primary Industry. Subprime lending refers to lending at slightly higher interest rates to borrowers,who under normal circumstances would not have been eligible for the loan .Such borrowers are consider to have a less -than-ideal credit as they may have defaulted in the past or are employed or without any regular income. Banks usually, refrained from lending to such people owing to the higher default risk. However, with the rise in property prices, banks started lending to such borrowers as these loans were mortgaged against property .In case of default, the banks could recover the money by selling off the mortgaged property. 2005: The prospering housing market comes to a standstill in many parts of the US. 2006: As the prices even out, homes sales drop. February 2007: Sub -prime bubble in the US burst-more than 25 sub prime lenders either go bankrupt, incur heavy losses or are up for the sale Banks files to take into account the possibly of a fall in property prices while undertaking sub prime lending . With the hike in interest rates by the Federal bank , the sub-prime borrowers began defaulting . This prompting banks to sell off the mortgaged properties. As more banks joined this trend of selling mortgaged properties , prices of property dropped down in the U.S. August 2007 : A no of leading mortgage lenders in the us go bankrupt : March 2008 : bear Sterns crumbles September 2008 : Lehman Brothers file for bankruptcy while Merrill Lynch is sold off to Bank of America Financial markets in the us developed a new product between 2001 nd 2006 . This product was in form of a bond securitized against mortgages . Financial institutions like bear sterns, Lehman brothers and Merrill lynch lent money to mortgage banks against the mortgages, on condition that these mortgage banks would repay the money as soon as they recovered their mortgages . These lenders ,in turn sold the retail bonds to individual investors . However, as mortgages could not be honoured , banks were unable to pay the back this money to financial institutions, who in turn could not pay repay individual investors. In the entire process, Institutions like Bear Sterns, Lehman Brothers Merrill lynch and AIG got a serve blow. LEHMAN BROTHERS Lehman Brothers was founded in 1850 by two cotton brokers in Montgomery, Ala. The firm moved to New York City after the Civil War and grew into one of Wall Streets investment giants. On Sept. 14, 2008, the investment bank announced that it would file for liquidation after huge losses in the mortgage market and a loss of investor confidence crippled it and it was unable to find a buyer. Lehmans slow collapse began as the mortgage market crisis unfolded in the summer of 2007, when its stock began a steady fall from a peak of $82 a share. The fears were based on the fact that the firm was a major player in the market for subprime and prime mortgages, and that as the smallest of the major Wall Street firms, it faced a larger risk that large losses could be fatal. As the crisis deepened in 2007 and early 2008, the storied investment bank defied expectations more than once, just it had many times before, as in 1998, when it seemed to teeter after a worldwide currency crisis, only to rebound strongly. Lehman managed to avoid the fate of Bear Stearns, the other of Wall Streets small fry, which was bought by JP Morgan Chase at a bargain basement price under the threat of bankruptcy in March 2008. But by summer of 2008 the rollercoaster ride started to have more downs than ups. A series of write-offs was accompanied by new offerings to seek capital to bolster its finances. Lehman also fought a running battle with short sellers. The company accused them of spreading rumors to drive down the stocks price; Lehmans critics responded by questioning whether the firm had come clean about the true size of its losses. As time passed and losses mounted, an increasing number of investors sided with the critics. On June 9, 2008, Lehman announced a second-quarter loss of $2.8 billion, far higher than analysts had expected. The company said it would seek to raise $6 billion in fresh capital from investors. But those efforts faltered, and the situation grew more dire after the government on Sept. 8 announced a takeover of Fannie Mae and Freddie Mac. Lehmans stock plunged as the markets wondered whether the move to save those mortgage giants made it less likely that Lehman might be bailed out. On Sept. 10, the investment bank said that it would spin off a majority of its remaining commercial real estate holdings into a new public company. And it confirmed plans to sell a majority of its investment management division in a move expected to generate $3 billion. It also announced an expected loss of $3.9 billion, or $5.92 a share, in the third quarter after $5.6 billion in write-downs. By the weekend of Sept. 13-14, it was clear that it was do or die for Lehman. The Treasury had made clear that no bailout would be forthcoming. Federal officials encouraged other institutions to buy Lehman, but by the end of the weekend the two main suitors, Barclays and Bank of America, had both said no. Lehman filed for bankruptcy Sept. 15. One day later, Barclays said it would buy Lehmans United States capital markets division for $1.75 billion, a bargain price. Nomura Holdings of Japan agreed to buy many of Lehmans assets in Europe, the Middle East and Asia. Lehman also said it would sell much of its money management business, including its prized Neuberger Berman asset management unit, to Bain Capital and Hellman Friedman for $2.15 billion. Lehmans demise set off tremors throughout the financial system. The uncertainty surrounding its transactions with banks and hedge funds exacerbated a crisis of confidence. That contributed to credit markets freezing, forcing governments around the globe to take steps to try to calm panicked markets. On Oct. 5, Richard S. Fuld Jr., Lehmans chief executive, testified before a Congressional panel that while he took full responsibility for the debacle, he believed all his decisions were both prudent and and appropriate given the information at the time. EFFECT ON THE INDIAN ECONOMY Impact of global recession on India America is the most effected country due to global recession, which comes as a bad news for India. India have most outsourcing deals from the US. Even our exports to US have increased over the years. Exports for January declined by 22 per cent. RECESSIONS ARE the result of reduction in the demand of products in the global market. Recession can also be associated with falling prices known as deflation due to lack of demand of products. Again, it could be the result of inflation or a combination of increasing prices and stagnant economic growth in the west. Recession in the West, specially the United States, is a very bad news for our country. Our companies in India have most outsourcing deals from the US. Even our exports to US have increased over the years. Exports for January have declined by 22 per cent. There is a decline in the employment market due to the recession in the West. There has been a significant drop in the new hiring which is a cause of great concern for us. Some companies have laid off their employees and there have been cut in promotions, compensation and perks of the employees. Companies in the private sector and government sector are hesitant to take up new projects. And they are working on existing projects only. Projections indicate that up to one crore persons could lose their jobs in the correct fiscal ending March. The one crore figure has been compiled by Federation of Indian Export Organisations (FIEO), which says that it has carried out an intensive survey. The textile, garment and handicraft industry are worse effected. Together, they are going to lose four million jobs by April 2009, according to the FIEO survey. There has also been a decline in the tourist inflow lately. The real estate has also a problem of tight liquidity situations, where the developers are finding it hard to raise finances. IT industries, financial sectors, real estate owners, car industry, investment banking and other industries as well are confronting heavy loss due to the fall down of global economy. Federation of Indian chambers of Commerce and Industry (FICCI) found that faced with the global recession, inventories industries like garment, gems, textiles, chemicals and jewellery had cut production by 10 per cent to 50 per cent IMPACT ON DIFFERENT SECTORS 1. Impact on stock market The immediate impact of the US financial crisis has been felt when Indias stock market started falling. On 10 October, Rs. 250,000 crores was wiped out on a single day bourses of the Indias share market. The Sensex lost 1000 points on that day before regaining 200 points, an intraday loss of 200 points. This huge withdrawal from the Indias stock market was mainly by Foreign Institutional Investors (FIIs), and participatory-notes. 2. Impact on Indias trade The trade deficit is reaching at alarming proportions. Because of workers remittances, NRI deposits, FII investment and so on, the current deficit is at around $10 billion. But if the remittances dry up and FII takes flight, then we may head for another 1991 crisis like situation, if our foreign exchange reserves depletes and trade deficit keeps increasing at the present rate. Further, the foreign exchange reserves of the country has depleted by around $57 billion to $253 billion for the week ended October 31.(Sivaraman, 2008) 3.Impact on Indias export With the US and several European countries slipping under the full blown recession, Indian exports have run into difficult times, since October. Manufacturing sectors like leather, textile, gems and jewellery have been hit hard because of the slump in the demand in the US and Europe. Further India enjoys trade surplus with USA and about 15 per cent of its total export in 2006-07 was directed toward USA. Indian exports fell by 9.9 per cent in November 2008, when the impact of declining consumer demand in the US and other major global market, with negative growth for the second month, running and widening monthly trade deficit over $10 billions. Official statistics released on the first day of the New Year, showed that exports had dropped to $1.5 billion in November this fiscal year, (Sivaraman, 2008) from $12.7 billion a year ago, while imports grew by $6.1billion to $21.5 billion. 4.Impact on Indias handloom sector, jewelry export and tourism Again reduction in demand in the OECD countries affected the Indian gems and jewellery industry, handloom and tourism sectors. Around 50,000 artisans employed in jewellery industry have lost their jobs as a result of the global economic meltdown. Further, the crisis had affected the Rs. 3000 crores handloom industry and volume of handloom exports dropped by 4.6 per cent in 2007-08, creating widespread unemployment in this sector (Chandran, 2008). With the global economy still experiencing the meltdown, Indian tourism sector is badly affected as the number of tourist flowing from Europe and USA has decreased sharply. 5.Exchange rate depreciation With the outflow of FIIs, Indias rupee depreciated approximately by 20 per cent against US dollar and stood at Rs. 49 per dollar at some point, creating panic among the importers. 6.IT-BPO sector The overall Indian IT-BPO revenue aggregate is expected to grow by over 33 per cent and reach $64 billion by the end of current fiscal year (FY200). Over the same period, direct employment to reach nearly 2 million, an increase of about 375000 professionals over the previous year. IT sectors derives about 75 per cent of their revenues from US and IT-ITES (Information Technology Enabled Services) contributes about 5.5 per cent towards Indias total export. So the meltdown in the US will definitely impact IT sector. Further, if Fortune 500 hundred companies slash their IT budgets, Indian firms could adversely be affected. 7.FII and FDI The contagious financial meltdown eroded a large chunk of money from the Indian stock market, which will definitely impact the Indian corporate sector. However, the money eroded will hardly influence the performance real sector in India. Due to global recession, FIIs made withdrawal of $5.5 billion, whereas the inflow of foreign direct investment (FDI) doubled from $7.5biilion in 2007-08 to $19.3 billion in 2008 (April-September). Conclusion From the above argument it can be noted down that the Financial or Subprime Crisis was the shear consequences of greed and to make too much profit on the part of Wall Street Firms and Investment Banks. This crisis also shows the failure of capitalist market economy. Though the Indian economy would be able to withstand the crisis without any major difficulty, but the crisis is still causing mayhem all over the world.

Competitive Grants, Action Research Proposal, and Business Plans Essay

Competitive grants, action research proposals, and business plans all seem to be predisposed with results and outcomes. All three seem to be geared towards the realization of a goal or an objective that supports desirable changes and results in society. Competitive grants are designed to be able to provide help and support to various populations who are in dire need of them (USDH, 2000). Action Research Proposals are written because of the need for changes in people’s behavior and responses toward certain issues or themes that need to be improved in order to result to desirable change through action research (Ferrance, 2000). Business plans are also designed in such a way that it provides for the needs of the consumers or the people and influence desirable changes in the economy and the satisfaction of the nation. It includes all the most important decision that one can make in order to make the business progress and be successful in its venture. (My Own Business, 2007)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In addition, competitive grants, action research proposals, and business plans are instrumental in identifying and determining the varied needs of members in the society. These three also differ in their purpose, content, and outline. To have a deeper understanding about the similarities and differences among these three, the discussion about their nature and characteristics is relevant and will be stated in the following paragraphs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Funding programs for a specific group of population takes on the form of competitive grants. Competitive grants aim to address the growing needs of and problems in society. However, grants are only available to those who are eligible to apply and be granted access to the benefits and advantages that goes along with the grant. The funding and support that come from competitive grants are only limited to those who fit the characteristics of its target population. Moreover, these grants are only available for a limited period of time as proclaimed by the public or private organization implementing the program. Examples of competitive grants include training programs for young people who cannot afford to go to school, funding for nutrition and a healthy lifestyle advocacy, etc. (USDH, 2000)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An action research proposal plays a significant role in conducting a research, especially one that is academic in nature. The purpose of an action research proposal is to establish a background about the theme that is to be addressed after the research. In addition, an action research aims to influence change in certain processes and progressions that would in turn affect desirable changes in society. The action research proposal is instrumental in the accomplishment of this mission as it provides an overview of the problem and the solutions that would cause pleasant changes. The action research proposal is the basis of the action research. All the information and other action researches that have been conducted in the past are included in the proposal. In addition, it also contains predictions or calculated guesses of what the action research would lead to. It also includes the various processes that will be employed in order to collect all data, interpret them, and establish a solution to the main problem in the proposal. (Ferrance, 2000)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A business plan is a tool used by professionals in the business arena to predict the status of a specific business venture. It is also a way of preventing losses or cutbacks in the future. The business plan also continuously functions as a monitoring guide in evaluating or assessing the path of the business, whether it follows the plan or it is progressing or digressing in a different direction. Therefore, it is important to include substantial information and integrate it in the plan in order to see that changes that are occurring in a business enterprise. (Berry, 2008) The business plan is also broad than the action plan proposal and the competitive grant because it covers a wider range of information, from consumers, to human resources, capital funds, marketing strategies, etc. (My Own Business, 2007) References Berry, T. (2008). What is a Business Plan? Retrieved March 22, 2008, from Palo Alto Software, Inc. Website: http://articles.bplans.com/index.php/business-articles/writing-a-business-plan/What-is-a-Business-Plan?/ Ferrance, A. (2000). Action Research. Retrieved March 22, 2008, from The Education Alliance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Website: http://www.alliance.brown.edu/pubs/themes_ed/act_research.pdf My Own Business. (2007). Business Plan. Retrieved March 22, 2008, from My Own Business,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Inc. Website: http://www.myownbusiness.org/s2/#1 USDH. (2000). What is a Competitive Grant Program. Retrieved March 22, 2008, from U.S.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Department of Housing. Website: http://www.hud.gov/nofa/suprnofa/sprprt1b.cfm

How Technology Has Changed Our Lives.

{draw:rect} MODERN AGE (1950-1985) After the Second World War Americans began to prosper, millions of people were changing. The troops that were returning from war some 12 million served during the war years were going back in the workforce. Most of these men were mere children when they signed on, some from rural America that never returned to work the earth. Farming technology was being made to counter act this problem. So much so that at the turn of the twentieth century 50 percent of the workforce was on farms that provided the nation’s food. By the end of the 1950’s only 7 percent of the workforce was working the nation’s farms. Hourly wages for selected industries, United States, 1950 1901 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 0. 23 1918 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. .53 1935 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. .58 1950 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1. 59 SOURCE: U. S. Bureau of Labor Statistics, Consumer Expenditure Survey Manufacturing. (Bureau of Labor Statistics) Yale Brozen writes â€Å"Fear of automation can be traced to four sources. † One is based on the assumption that there is a fixed amount of goods. The second source of fear springs from the idea that automation or cybernation is something more than the latest stage in the long evolution of technology. The third source of fear lies in the fact that we are much more aware of the people displaced by automation and concerned about them than we are of the other unemployed. Even while we reduce the amount of manpower needed to do a fixed amount of work does that fixed amount of work remain the same? As we all know this is not the case. As we free up manpower from one aspect we find new and productive uses for that manpower. His words speak the truth then as they do today. It saves lives through the aid it gives doctors. By controlling traffic signals in response to traffic flows and reducing traffic congestion, it adds hours to the free time of commuters every week. It helps scientists, with the aid of high speed data processing; to develop new knowledge that otherwise would not be available in our lifetimes. We are increasing the sc ale of educational activities because mechanization, automation, cybernation, or whatever we choose to call our new technology, makes it possible to do more than we could formerly. With the coming of automation, men are able to do more and have more. Both sublime and mundane activities are being enlarged and the number of jobs has grown as a consequence, not declined. † (Brozen) The second source of fear that the latest idea of automation or technology will become something more then what it was intended to be. People were so obsessed with what the future would hold books and movies were made to cast this fear. Science fiction was used to depict future events that could occur. Films such as one that was released in 1968 2001: A Space Odyssey where an artificially intelligent supercomputer, HAL takes over a space mission. Today some super computers are in use, are they anyway near being HAL? Some say we are getting close to true artificial intelligence, but we are far from HAL. The forth source of fear of automation is that it reduces the demand for unskilled workers. This may be true in some instances but at the same time the demand for skilled workers will increase. As stated previously companies do their best to keep their employees. When possible they are retraining these employees to fill new jobs that become available because of the new technology. If this were true then the unemployment rate would raise proportionately. If automation is added to a process and did the work of five people then five people would be unemployed. We know that this does not make sense. It has increased productivity to the process not that it reduced people from the process. NEW WAVE (1985-Present) The year 1985 saw more technological changes, Windows 1. 0 is introduced here you can do more than just one DOS application at a time. Made by this little upstart IBM partner company called Microsoft, it even comes with a calculator program. Some other wonders of 1985 is the first compact disk read only memory (CD-ROM) of none other than a Grolier Encyclopedia. Apple was the big name in computers at the time and most businesses had one. To be up to date in the office the new Apple LaserWriter printer was the best and it only cost around $7000. The main reason we call 1985 the New Wave era is this, the first . Com domain name, symbolics. com, is registered by the Symbolics Corporation. (The People History) According to David Huether, chief economist of the National Association of Manufacturers, U. S. manufacturers are producing and exporting more goods than ever before. While manufacturing output easily outpaces the larger U. S. economy, manufacturing employment, at 14. million, is at its lowest level in more than 50 years. (Williams) Another place that has felt the effects of technology is in the office, or white collar jobs. Michael J. Handel writes in a brief for SRI International: â€Å"Analyses of national data indicate that increased use of computers in the 1980s and 1990s was associated with greater use of more-educated workers withi n industries. However, the direction of causality is unclear. It may be that both educational upgrading and greater computer use simply reflect an independent increase in the number of white collar workers within industries, who are the most frequent computer users. It may be that the hiring of more-educated workers, usually office workers, stimulates demand for computers rather than vice versa. In addition, the industries upgrading their educational levels coincident with adoption of computers in the 1980s and 1990s also appear to have been upgrading educational levels before the widespread diffusion of computers. † (Handel) There are many ways to make a job better, faster, and safer. Every dayI see improvements to the work floor. There are many facets of the business that help with these improvements. Some of which are our Product Development Teams (PDT) that will follow the work to see if anything can be changed. They work closely with our Research and Development (RD) operations. These two areas have grown by 1000% in the last twenty years. Another area that has greatly grown is our engineering staff and related personal. In 1996 the skilled trades had two engineers to take all our requests to. We now have engineers for facilities, electricians, repairmen, mobile equipment, power house, and toolmakers. In all we have become more effective and more efficient in how we do our business of repairing the machinery in the factory. Everyone can be affected by technology no job is completely that same as it was in years past. Studies have been made to classify a job for automation. They are based on three dimensions, Receptiveness Stability Structuredness Some jobs are changing constantly, I have seen toll booth operations change here in Illinois just over the last two years. The new faster E-Z pass lanes going into Chicago for one. I asked one of the booth operators how they liked them, one told me that it was all good. Their day is less stressful and they have hired more people in the toll way system. More people to monitor and maintain the equipment and make sure those that did not pay get those little notices in the mail. WORKS CITED Baughman, James L. â€Å"Television Comes to America, 1947-57. † Editorial. Illinois Periodicals Online (IPO) Project. N. p. , Mar. 1993. Web. 29 Nov. 2009. http://www. lib. niu. edu/1993/ ihy930341. html. Bland Jr. , Gordon R. â€Å"The Effects of Job Automation on the Economy. † Scribd. N. p. , 4 Mar. 2009. Web. 29 Nov. 2009. http://www. scribd. com/doc/12965589/The-Effects-of-Job-Automation-on-the-Economy. Bureau of Labor Statistics. â€Å"100 Years of U. S. Consumer Spending: Data for the Nation, New York City, and Boston. † United States Department of Labor. N. p. , 3 Aug. 2006. Web. 29 Nov. 2009. http://www. bls. gov/opub/uscs/1950. pdf. Brozen, Yale. â€Å"Automation: The Retreating Catastrophe. † Ludwig von Mises Institute. N. p. , n. d. http://mises. org/journals/lar/pdfs/2_3/2_3_5. pdf. Rpt. in Automation: The Retreating Catastrophe. N. p. : n. p. , n. d. N. pag. Ludwig von Mises Institute. Web. 29 Nov. 2009. http://mises. org/. Handel, Michael J. SRI Project Number P10168. SRI International, July 2003. Web. 29 Nov. 2009. http://www. sri. om/policy/csted/reports/sandt/it/Handel_IT_Employment_InfoBrief. pdf>. Huether, David. â€Å"The Case of The Missing Jobs. † BusinessWeek. N. p. , 3 Apr. 2006. http://www. businessweek. com/magazine/content/06_14/b3978116. htm. Rpt. Web. 29 Nov. 2009. http://www. businessweek. com/magazine/content/06_14/b3978116. htm. The People History . † 1985. N. p. , 2009. Web. 29 No v. 2009. http://www. thepeoplehistory. com/ 1985. html. U. S. Congress, Office of Technology Assessment, Reducing Launch Operations Costs: New Technologies and Practices, OTA-TM-ISC-28 (Washington, DC: U. S. Government Printing Office, September 1988).

Day Chocolate - 4448 Words

Day Chocolate Company Report International Marketing Table of Contents Page Introduction 03 Consumer Segmentation 04 Brand Development 06 Marketing Mix 07 General Market Trends 09 SWOT Analysis 10 Internationalisation 11 Conclusion 12 References 13 Introduction Day Chocolate ltd.’s main strategic aim is to bring premium quality fairly traded chocolate to the mainstream British market to raise awareness of Fairtrade. Cacao growers in Ghana own one third of Day Chocolate ltd and are represented in the Board of Directors. With cooperation of Kuapa Kokoo, the cocoa growers can actively take part in the leadership and†¦show more content†¦For example, Divine sells ‘Heavenly chocolate recipes’ and appeals with this product to chocolate lovers and people who like to cook with chocolate. Another example is the ‘Divine Chocolate Valentine’s Gifts’, which appeal to people who want to give something special with valentine. These products are examples of their purpose to extend their customer segment. A reason for buying products of Divine can be the Fairtrade mark. However, the high quality of the chocolate could also be a reason. These benefits of the products of Divine become apparent in the quote of Cherie Lunghi: â€Å"Chocolate is the ultimate feelgood treat – I’m unable to resist a lovely square of chocolate every now and then! But I’m fussy about what I choose, and I buy Divine not just because it’s so good, but also because it’s owned by cocoa farmers which gives them a share of the profits and real power in the chocolate market. That seems like a pretty good reason for indulging.† (Source: http://www.divinechocolate.com/about/faqs.aspx) Divine is using multiple segmentation bases. They focus on a mainstream adults customer segment and want to appeal to people who are Fairtrade aware. However, people with a need for high quality chocolate are also part of their consumer segment. Dubble Geographic segmentation: Dubble Fairtrade Chocolate is available in all major high street supermarkets as well as convenience stores, wholesalers toShow MoreRelatedWho Does Not Like Chocolate?1369 Words   |  6 PagesWho does not like Chocolate? Considering that us Americans are the biggest consumers of chocolate in the world, we just cannot get enough of it. We devour the most chocolate on our national holidays such as Halloween, Easter and Valentine’s day, but have you ever wondered where in the world does all this chocolate come from? The main ingredient for making chocolate is cocoa and it does not come sugar coated. Cocoa is can be good but in some many ways it can be harmful because, our purchase of cocoaRead MoreA Morsel Of Chocolate Through American History1679 Words   |  7 PagesMorsel of Chocolate Through American History Specific Purpose: To inform my audience how chocolate has been a part of American History. Central Idea: Chocolate has been a part of the United States’ history from the country’s earliest begins, through its expansion and growth, to the modern day America. Introduction: In 2013, the US chocolate sales topped $17 billion dollars. It should not be a surprise that chocolate is a snack that is consumed by a majority of Americans. Chocolate has beenRead MoreThe Evolution Of Medicinal Chocolate1512 Words   |  7 PagesThe Evolution of Medicinal Chocolate No more guilt! From age to age, the knowledge and usage of chocolate has vastly grown. Part of this knowledge comes from searching the past and modern technology studies. Since the beginning of the use of chocolate and cacao in its native lands, the medicinal value of chocolate has evolved, while enticing and capturing the palates of cultures past and present. Diseases have existed since the beginning of time. However, chocolate use began in the early AmericanRead MoreThe World s Modern Chocolate Culture1636 Words   |  7 Pagesforerunners in developing our world’s modern chocolate culture. In the same way that the Europeans creatively modified cacao from Mesoamerica to create a new chocolate culture around the world, Japan has been responsible for creating chocolate trends in East Asia, including the creation of a new holiday. With the largest chocolate market in Asia, the Japan has also been modifying its local and international chocolate culture by utilizing avant-garde chocolate-making techniques. As such, Japan is becomingRead MoreEssay on Chocolate is Good for You!670 Words   |  3 PagesChocolate is Good for You! Did you know that getting a daily dose of dark chocolate may be beneficial to your health? Not only is chocolate the perfect gift for your sweetie on Valentine’s Day, it also may benefit your heart. The ingredients in chocolate are not only delicious, but dark chocolate and cocoa powders also contain disease-fighting antioxidants. The key to gaining the most benefits from dark chocolate is to enjoy it in moderation. According to cnn.com (2000), in addition toRead MoreDark Chocolate1516 Words   |  7 PagesWhy is Dark Chocolate Healthy?: Chocolate is made from plants, which means it contains many of the health benefits of dark vegetables. These benefits are from flavonoids, which act as antioxidants. Antioxidants protect the body from aging caused by free radicals, which can cause damage that leads to heart disease. Dark chocolate contains a large number of antioxidants (nearly 8 times the number found in strawberries). Flavonoids also help relax blood pressure through the production of nitric oxideRead MoreWacky Choocolate Cake from My Grandmother747 Words   |  3 PagesWacky chocolate cake is common household name in your house nothing better than a sweet smell of grandmother chocolate cake slowly baking in the early morning.†­ †¬Wacky chocolate cake recipe was pass down by my grandmother to my mom ever since then wacky chocolate cake was make multiple times.†­ †¬With my moms touch our favorite cake become much healthier with rich moist chocolate taste. Cake in nothing without a perfect cake icing right†­? †¬Over time weve use many cake topping into we found a perfectRead Moreunusual job1654 Words   |  7 Pageswithout doubt, the best job in the world. Ever. Now, I like chocolate - a lot. My sickness threshold is high. I can eat loads without feeling queasy. Ive tried and fallen in love with every brand I can think of, and, as far as inventing new flavours goes, well, thats easy. EVERYTHING goes well with chocolate. Check out all the latest News, Sport Celeb gossip at Mirror.co.uk  http://www.mirror.co.uk/news/uk-news/being-a-professional-chocolate-taster-mirrorgirl-261729#ixzz2fS9G9iGD   Follow us:  @DailyMirrorRead MoreCase Study : Clares Chocolates1732 Words   |  7 PagesCASE STUDY: CLARE’S CHOCOLATES 1. The basic characteristics of the marketing concept that could be identified in Clare’s Chocolates are as follows: a. Word of Mouth Clare’s Chocolate Cafes use word of mouth marketing vs. more traditional avenues of marketing. This fits in with the organization’s focus on providing high quality chocolate products to customers. As the perception of a quality product is subjective, people tend to believe the opinions of friends or associates when they describe a productRead MoreThe Beauty Benefits Of Dark Chocolate1631 Words   |  7 PagesDuffy English 101 10 Dec 2015 The beauty benefits of dark chocolate It is a well-known fact that chocolate has become one of the most popular food types and flavors nowadays. However, many people tend to forget its origin. Generally, chocolate is made from cacao beans harvested from cacao trees in Central and South America together with parts of Asia. The beans are then roasted and crushed into a paste. There is a variety of ways to use chocolate. Cocoa butter, which is used in cosmetics and beauty treatments