The American Revolution - 999 Words

The American Revolution was undeniably the most pivotal time period in respect to United States History, but who was really to blame for initiating the conflict? While both the British politicians and American colonists shared the blame for the kindling of the revolution, one party was certainly more at fault than the other: the British. Through short-term causes of taxation and incommodious trade acts, and long-term causes of salutary neglect and involvement in the burdensome French Indian War, the British politicians proved to ultimately be the most responsible for igniting the Revolutionary War. The long-term causes of the war, salutary neglect and involvement in the French Indian War, worked hand in hand and proved to be arguably the most influential of American independence. The term â€Å"salutary neglect† refers to the unofficial policy that Britain had with the colonists in the 17th 18th centuries: British laws were not enforced in the colonies, so Americans learned to care for and govern themselves. This was especially prevalent when governing bodies like the House of Burgesses in Virginia were created as a means of government. But as the colonists adapted to live on their own, certain ideas became widespread throughout the land; these ideas in turn led to The Great Awakening and The Enlightenment. In The Great Awakening, colonists began to split from the Church of England and form their own Christian denominations as a revival of religion swept the colonies.Show MoreRelatedThe American Revolution : The Revolution1367 Words   |  6 PagesThe American Revolution Revolutionizes the World It was the first revolution to majorly succeed and change how people saw their countries, it was the American Revolution. The American Revolution was the first successful revolution against a European empire that provided a model for many other colonial peoples who realized that they too could break away and become self-governing nations (New world Encyclopedia, 1).The American Revolution was vital to history because ideas seen by other countries startedRead MoreThe Revolution Of The American Revolution999 Words   |  4 PagesBetween 1770 and 1776, resistance to imperial change turned into a full-on revolution. The American Revolution, also known as the Revolutionary War, was a time of revolting and political uprising, in which the 13 colonies separated from the British Empire, forming the independent nation known as the United States of America. Though the American Revolution began because the colonies wanted independence from Britain, many important historical events and revolts also lead to the tensions and resistanceRead MoreThe Revolution Of The American Revolution1362 Words   |  6 PagesEvery 4th of July, Americans are told the story of the American Revolution. We remember the oppressed colonists fighting against the tyrannical King George III and the formidable red coats. Patriotic heroes are remembered, evil kings are cursed, and the liberties and freedoms won from the war are celebrated. Though America often likes to look back to the revolution, the question of just how much a revolution was the American Revolution is rarely asked. While the American revolution was not as radicalRead MoreThe Revolution Of The American Revolution863 Words   |  4 PagesThere are many different views on how the American Revolution came to be and how it actually was. One way is that the colonists that had money and were known as the elite were trying to preserve their power from the British and this is what caused the revolutionary war. Then on the other hand bef ore the revolutionary war occurred when the colonists were being over controlled by the British, then in result of the American Revolution the colonists were able to win against the British and become strongerRead MoreThe Revolution Of The American Revolution1582 Words   |  7 Pagesâ€Å"The revolution was effected before the war commenced. The revolution was in the minds and hearts of the people.† - John Adams, 1818 This quote means that the revolution actually took place metaphorically before the actually fighting began. It took place in the emotions and thoughts of the Americans. The Road to Revolution After the Seven Years’ War created a financial problem for Britain The British tried to shoulder some of the financial responsibilities onto the Americas in the form of variousRead MoreThe Revolution Of The American Revolution850 Words   |  4 PagesIn regards to the American Revolution, the point that armed rebellion became inevitable arrived when after nearly five constant years of American colonist protesting. American s had enough and needed to take a stand for the numerous inequalities they were forced to deal with. It was foreseeable that the American Revolution took place due to the unfair taxes that the British were giving Americans. Also, England was not allowing Americans their freedom, along with violence and the political dominanceRead MoreThe American Revolution. The American Revolution Started1581 Words   |  7 PagesThe American Revolution The American Revolution started when King George the 3rd decided to make the American Colonies pay a large amount of money for the debt of the French and Indian War by giving the colonist different types of taxes like the Sugar Act in 1764. The sugar Act of 1764 was a British Law that was passed on April 5, 1764, that collected incomes from the 13 colonies. The act put a huge tax on the sugar and molasses that were imported into the colonies which were a huge impact for theRead MoreThe American Revolution1337 Words   |  6 PagesThe American Revolution was much more than an insurrection against British tariffs and patronage decree. Rather, it was a bureaucratic catastrophe in which colonists from the thirteen American colonies denied the British sovereignty, eradicated the jurisdiction of Great Britain and established the United States of America. The upheaval was a primitive modern revolution in which generality traversed for liberty in the statute of law, constitutional privilege and supremacy. Ensuing years of contentionRead MoreThe American Revolution993 Words   |  4 PagesThe topic of the American Revolution is a topic that has been discussed on multiple levels and is extremely well-known, especially within the United States. The details are a little on the generic and basic side but it is at least understood on some level. Most people are aware of the American standpoint, the what, why, how, and when, but there is much more depth to what occurred. The war was obviously between the Americas and the Mother country of Britain, but there were more than just those twoRead MoreThe American Revolution889 Words   |  4 PagesThe American Revolution was one of the most vital events in American History lasting form 1775 to 1783, it effected the nation socially, economically and politically. The American Revolution brought upon many changes in America, and freedom of the nation. The Revolutionary War was a stepping stone to what we are as a nation today, it c reated both short and long-term effects on the world. When wanting to blame a certain side, the British politicians or the American agitators, several key points lead

Emerging Economies Free Essays

string(55) " the growth prospects of these economies are striking\." Business Development in Emerging Economies Business Development in Emerging Economies Coursework Coursework Contents A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words)3 Introduction4 What are emerging economies4 Future of emerging economies5 Microeconomic approach6 Long-term economic perspectives7 The â€Å"Euro† perspective8 Facts about the future9 Forecast11 Opinion12 Risks for emerging markets12 B. We will write a custom essay sample on Emerging Economies or any similar topic only for you Order Now Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. 500 words)14 What are MNEs (Multinational Enterprises)15 Facts about MNEs15 C. How formidable is the competition posed by emerging markets MNE’s to the â€Å"Western† companies? Could it be country- or/and sector-specific? (500 words)18 References21 Business Development in Emerging Economies Coursework Submission A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words) B. Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. (500 words) C. How formidable is the competition posed by emerging markets MNE’s to the â€Å"Western† companies? Could it be country- or/and sector-specific? (500 words) A. In your opinion, what is the future of emerging economies? Support your answer with relevant evidence. (2000 words) Introduction What are emerging economies The emerging markets story began almost thirty years ago. In the mid-1980s, developed economies started on a debt-fueled consumer spending binge that lasted more than two decades. This provided an incredible opportunity for developing economies. So, emerging markets or emerging economies are nations with social or business activity in the process of rapid growth and industrialization. The seven largest emerging and developing economies by either nominal Gross Domestic Product or GDP (Purchasing Power Parity) are China, Brazil, Russia, India, Mexico, Indonesia, and Turkey. Some characteristics that define an economy as emerging are the following: * Intermediate income: its PPP per capital income is comprised between 10 % and 75 % of the average EU per capital income. Catching-up growth: during at least the last decade, it has experienced a brisk economic growth that has narrowed the income gap with advanced economies. * Institutional transformations and economic opening: during the same period, it has undertaken profound institutional transformations which contributed to integrate it more deeply into the world economy. Hence, emerging economies appears to be a by-product of the current globalization. Emerging markets are soug ht by investors for the prospect of high returns, as they often experience faster economic growth as measured by GDP. Investments in emerging markets come with much greater risk due to political instability, domestic infrastructure problems, currency volatility and limited equity opportunities (many large companies may still be â€Å"state-run† or private). Also, local stock exchanges may not offer liquid markets for outside investors. These countries do not share any common agenda, so there are various lists of emerging markets, developed by various analysts such as The Economist, the International Monetary Fund, Dow Jones etc.. If we had to make a summary list it would be the following: Afghanistan|   Estonia|   Lithuania|   Qatar|   Sudan|   Argentina|   Hong Kong|   Malaysia|   Romania|   Taiwan|   Bahrain|   Hungary|   Mauritius|   Russia|   Thailand|   Bangladesh|   India|   Mexico|   Saudi Arabia|   Turkey|   Brazil|   Indonesia|   Morocco|   Singapore|   Tunisia|   Bulgaria|   Iran|   Nigeria|   Slovakia|   UAE| Chile|   Israel|   Oman|   Slovenia|   Ukraine| China|   Jordan|   Pakistan|   South Africa|   Venezuela|   Colombia|   Kuwait|   Peru|   Sri Lanka|   Vietnam| Czech Republic|   Latvia|   Philippines|   South Korea|   Sudan|   Egypt|   Estonia|   Poland|   Qatar|   Taiwan| Future of emerging economies In the past decade emerging markets have established themselves as the world’s best sprinters. As serial crises tripped up America and then Europe, China barely broke stride. Other big developing nations paused for breath only briefly. Investors bet that rapid growth in emerging markets was the new normal, while leaders from Beijing to Brazil lectured the world on the virtues of their state-centric economic models. More than 80% of the world’s population lives in countries with emerging economies. As we can see in Figure 1, the share of emerging markets in global output has increased from below 20% in the early 90’s, to more than 30% today. Considering the cost of living differences, the share of emerging economies in world GDP already exceeds 45%, which is 13 percentage points higher than in the early 90’s. According to the International Monetary Fund’s (IMF), World Economic Outlook, this share will exceed 50% in 2013. Figure [ 1 ]: Share of emerging economies in world GDP in recent periods While these economies are already large, they keep growing strongly. Growth in emerging economies and increased resistance to economic and financial shocks mean good news for the global economy, which can definitely rely on the dynamism of emerging economies more than it did in the past. The residents of emerging economies’ countries benefited a lot from this rapid growth, as it led to rising living standards. During the period 2000-2009, the per capita GDP in these countries increased by more than 70%. The integration of emerging economies in world markets for goods and services happened smoothly. Regarding global exports of goods and services, the share of emerging economies almost doubled between the early 90’s and 2010, reaching 35%. Microeconomic approach The most important role of the emerging economies and reflected at the micro level. Specifically, six of the 25 largest companies in the world, for example, in terms of market value come from emerging markets. These companies are listed below, according to Global 2000 list for 2012, an annual ranking of the top 2000 public companies in the world by Forbes magazine. The ranking is based on a mix of four metrics: sales, profit, assets and market value. Rank| Company| Headquarters| Industry| Profits (billion $)| Assets (billion $)| Market Value (billion $)| 05| Industrial and Commercial Bank of China|   China| Banking| 25. 1| 2,039. 1| 237. 4| 07| PetroChina|   China| Oil and gas| 20. | 304. 7| 294. 7| 10| Petrobras|   Brazil| Oil and gas| 20. 1| 319. 4| 180| 13| China Construction Bank|   China| Banking| 20. 5| 1,637. 8| 201. 9| 15| Gazprom|   Russia| Oil and gas| 31. 7| 302. 6| 159. 8| 19| Agricultural Bank of China|   China| Banking| 14. 4| 1,563. 9| 154. 8| Long-term economic perspectives The present of emerging economies seems promising, but the future seems even better. According to forecasts for long-term growth based on demographic trends and models of capital accumulation and productivity, it seems that the role of emerging economies in the global economy will be even larger. More specifically, according to various surveys, the growth prospects of these economies are striking. You read "Emerging Economies" in category "Papers" The share of Brazil, Russia, India and China, if considered together, could by 2025 correspond to a rate of more than 50% share of the current six largest industrialized economies and to overcome it in less than 40 years. The â€Å"Euro† perspective From the perspective of the euro, the growing role of emerging economies provides various opportunities. More specifically, the dynamic growth of emerging economies is increasing demand for certain goods and tradable services where the euro zone has a comparative advantage. Also, competition from emerging markets increases motivation for further progress in structural reforms in the euro zone, which are either way necessary. In addition, the Eurozone is capable of seizing new opportunities created by emerging economies. Exports and imports of goods and services of the euro zone represent a significant share of the GDP. Considering this, it is remarkable that the share of the euro zone exports (excluding trade within the euro zone) to Asia increased from 19% in 2000 to 22% in 2009, while exports to the United States decreased from 17% to 12% over the same period. China’s share in total exports of the euro zone increased from 2% in 2000 to 5. 3% in 2009. Exports to Russia more than doubled over the same period from 1. 8% to 3. 9%, thus exceeding the exports to Japan, although the share of Russia was higher in 2008 (5. 0%), before the global trade collapsed. A similar trend was observed in India, though on a much smaller scale, as India’s share was 1. 7% of euro zone exports in 2009. The crisis When the global financial crisis struck, emerging economies responded energetically: China launched a huge stimulus, Brazil’s state-owned banks avished credit, interest rates were slashed. They succeeded so well that by 2010 they were forced to reverse course. To squash price pressures they raised interest rates, curbed speculation and allowed their currencies to appreciate. With a lag, that tightening has had the predicted result. Still, the slowdown has proved much sharper than expected. Europe’s sovereign-debt crisis is par tly to blame. It has sapped demand for the developing world’s manufactured exports and restrained prices of their commodities; South Africa is a notable casualty. European banks had been conduits for foreign money flowing into emerging markets. Now they are pulling back as they grapple with the problems at home. The issues of slowing growth, high government debts, rising unemployment, and aging populations within developed economies such as the United States presented headwinds for emerging market countries, which in the past had been much more reliant on the health of developed markets. However, because of earlier fiscal discipline, countries such as China, Brazil and Indonesia were able to stimulate economies on their own with low interest rates and massive stimulus packages. The central banks were recourse to those who needed to borrow money, in order to avoid a major crisis. In December 2011 and February 2012, the European Central Bank announced long-term refunding, while European banks borrowed about 1 trillion euros. The U. S. Federal Bank, along with many central banks from developed countries went on with liquidity injections. That move resulted to massive relief, as the markets stabilized and industrial production increased again. The question then was if this would last, allowing the global economy to keep on growing. This was more of concern for emerging economies, which were considered to be safer than economically advanced countries. Many of them faced difficulties when they actually started developing, as they had to deal with massive poverty. Facts about the future Sadly, many emerging-world governments have interpreted the crisis in rich-world finance as a reason to preserve a more muscular role for the state. China has reserved some sectors for state-owned enterprises. In Brazil the big state-controlled oil company, Petrobras, and the tate-controlled banks have become virtual appendages of government policy. Having so much leverage over the economy is indeed helpful during a crisis, but in the long run it will stifle competition, starve the private sector of capital, deter foreign investment and know-how, and breed corruption. When the dust settles, emerging markets will still be growing faster than they did before 2003. But getting back up to the speed of the past decade will mean maintain ing the macroeconomic discipline and returning to the microeconomic reforms that made it possible in the first place. A strong infrastructure has significant long-term benefits, such as a growing manufacturing base, an educated workforce and more mobile, and therefore more easily employable, societies. The build-out of fixed asset infrastructure in China, which has been strong over the past 15 years, continues today, particularly as the population becomes more urbanized. Brazil also continues to invest in infrastructure, with estimates in excess of $800 billion in infrastructure spending as the country prepares to host the 2014 FIFA World Cup and the 2016 Summer Olympic Games. For example, the case of India. Since 2009, India has deliberately inflated its deficit in order to offset the economic slowdown. Fiscal expansion was very efficient in promoting growth of demand and supply after several years’ restriction. However, now the expansion is limited. Unlike developed countries, most developing economies are under inflationary pressure, which can be worse than additional expensed. Thus, the short-term future seems to be reserving various dangers. Nevertheless, medium and long-term perspectives about emerging economies are positive. Countries that save money, invest in human capital and provide good governance can achieve rapid growth again. India, for example, saves and invests more than 30% of its GDP, devoting a significant percentage of these sources to infrastructure. Thus, the possibility of India expanding its business increases. Investors seem to take seriously into account this perspective. They seem to be very hesitant towards investments in private equity funds. Nonetheless, they provided India with 43,8 billion dollars in long-term direct investments during 2011-2012. Despite the current crisis, the outlook seems encouraging for other emerging economies too, such as Brazil, China and Indonesia. It’s obvious that during the second half of 2011, developing economies that have faced the economic crisis kind of well, started to feel pressure as the euro zone crisis was getting worse. Growth in Brazil, India, China and other countries noted a remarkable slow down. Global economy seems to be focusing on fast-growing markets that are outside BRIC (Brazil, Russia, India and China) as there is the perception that they are capable of integrating faster than the BRIC countries into the global economy due to a number of trade, investment, technological and cultural criteria. These markets achieve constantly high rates of economic growth at the same level with the BRIC countries. Turkey, Indonesia and Mexico come just after China and India in terms of GDP growth between 2000 and 2015. Peru, Colombia, Venezuela, Malaysia and Vietnam, along with some countries and regions of Africa are ready to be included in the list with the most dynamic countries in the world, regarding investments. It’s becoming more and more admissible that these countries are the most significant sources of income for the future years. Same prospects seem to appear for South Africa, Indonesia, Mexico and Turkey, which are considered to be the most competitive ones. Executives from all around the economy world claim that they are planning to raise their investments in these markets. As goods’ and services’ trade goes back to the levels it was before the financial crisis and the flow of funds appears to steadily increase, technology and cross-border exchange of ideas will continue forcing growth and promoting globalization. Forecast Forecasts concerning the period of time from now and by 2015 don’t seem really encouraging for Europe and emerging economies. The last year’s liquidity injection was deemed to be an efficient policy, but it was certainly not a radical solution. No crisis looms, but serious concern is justified, for the emerging world faces two distinct risks: a cyclical slowdown and a longer-term erosion of potential growth. The first should be reasonably easy to deal with. The second will not. Fiscal discipline and investment has delivered for emerging economies up to this point. This can significantly contribute to future growth. If Europe can succeed in promoting large fiscal and banking reforms and put its economy in order, the crisis will probably subside. Otherwise it will remain until the end of 2014 and then Europe will be before high risk once again. Regarding the developing countries, they will definitely be influenced by the U. S. and Europe – the two largest economies in the world. Their slowdown will directly affect all developing countries. The analyst, Jean Louis Martin claims though, that emerging economies will account for 52% of the global economy. His forecast is based on current prices and exchange rates-compared with 38. 9% in 2011. Opinion Looking through the past as thoroughly as I can, and considering the risks, my opinion about a potential recovery tends to be negative. A slump in these countries thus looks unlikely; so, however, does a return to the past decade’s growth rates. China, for one, doesn’t want it. Its economy has become over-reliant on investment; its leaders want to usher in a phase of more sustainable but slower growth, led by consumers. Beyond China, it is increasingly clear that many emerging economies have been growing beyond their underlying potential. Optimists once thought India could sustain Chinese-style growth of over 9% a year; but that led to stubborn inflation and current-account deficits, suggesting that India’s potential growth may be more like 6-7%. There is no guarantee that emerging markets will experience stable, sustainable development, since numerous economic and political risks are lurking. Emerging countries are still vulnerable to economic changes that occur in developed countries. Risks for emerging markets There’s a number of potential sources of macroeconomic and political instability such as high fiscal deficits, over-dependence on oil revenues and gas, increasing disparities in income leading to social tensions and acroeconomic and financial instability. Many reports also highlight the pressures on natural resources from the rapid growth in emerging economies, including the increasing difficulty of keeping global warming within the maximum limit of two degrees Celsius. While new unconventional sources like shale gas have reduced fears of depletion of fossil fuels, the risks associated with the most unstable global climate patterns are expected, to follow a steady upward trend. Issues such as taxation of executive compensation, the proper scope of financial regulation, and international M;A have come to the foreground in the wake of the crisis, and stark international differences in opinions and policies on these matters are already evident. The differences will only become more pronounced as discussions about the appropriate near-term policy response to the crisis give way to debates about who should pay and how much. The multinational firms best able to anticipate and manage the related risks and opportunities will have the strongest competitive edge. B. Critically discuss the factors driving the growth of emerging MNEs. Use relevant company and country examples. (500 words) What are MNEs (Multinational Enterprises) As the name implies, a multinational corporation is a business concern with operations in more than one country. These operations outside the company’s home country may be linked to the parent by merger, operated as subsidiaries, or have considerable autonomy. Firms tend to locate where barriers are easier to overcome. For firms in emerging countries, this initially meant locating in nearby countries with regional, cultural or language ties (so-called South-South FDI). This trend seems to be changing, however, as firms from emerging economies gain prominence. Facts about MNEs There are over 40,000 multinational corporations currently operating in the global economy, in addition to approximately 250,000 overseas affiliates running cross-continental businesses. The top multinational corporations are headquartered in the United States, Western Europe, and Japan; they have the capacity to shape global trade, production, and financial transactions. Multinational corporations are viewed by many as favoring their home operations when making difficult economic decisions, but this tendency is declining as companies are forced to respond to increasing global competition. Multinational corporations follow three general procedures when seeking to access new markets: * merger with or direct acquisition of existing concerns * sequential market entry and joint ventures Here’s an example of sequential market entry, which often includes foreign direct investment, which involves the establishment or acquisition of concerns operating in niche markets related to the parent company’s product lines in the new country of operation. Japan’s Sony Corporation made use of sequential market entry in the United States, beginning with the establis hment of a small television assembly plant in San Diego, California, in 1972. For the next two years, Sony’s U. S. perations remained confined to the manufacture of televisions, the parent company’s leading product line. Sony branched out in 1974 with the creation of a magnetic tape plant in Dothan, Alabama, and expanded further by opening an audio equipment plant in Delano, Pennsylvania, in 1977. After a period of consolidation brought on by an unfavorable exchange rate between the yen and dollar, Sony continued to expand and diversify its U. S. operations, adding facilities for the production of computer displays and data storage systems during the 1980s. In the 1990s, Sony further diversified it U. S. facilities and now also produces semiconductors and personal telecommunications products in the United States. Sony’s example is a classic case of a multinational using its core product line to defeat indigenous competition and lay the foundation for the sequential expansion of corporate activities into related areas. Multinational corporations are thus able to penetrate new markets in a variety of ways, which allow existing concerns in the market to be accessed a varying degree of autonomy and control over operations. Multinationals today are viewed with increased suspicion given their perceived lack of concern for the economic well-being of particular geographic regions and the public impression that multinationals are gaining power in relation to national government agencies, international trade federations and organizations, and local, national, and international labor organizations. Despite such concerns, multinational corporations appear poised to expand their power and influence as barriers to international trade continue to be removed. They share many common traits, including the methods they use to penetrate new markets, the manner in which their overseas subsidiaries are tied to their headquarters operations, and their interaction with national governmental agencies and national and international labor organizations. In particular, factors that benefit MNEs growth are: * labor is relatively cheap * Ownership advantages encompass the development and ownership of proprietary technology or widely recognized brands that other competitors cannot use. Empirical analysis shows that multinationals are often technological leaders that invest heavily in developing new products, processes and brands, which are then kept confidential and are protected by intellectual property rights * technology being adopted is leapfrogging much of the legacy IT infrastructure that is still in use in developed countries * Localization advantages refer to the benefits that come from locating near the final buyers or closer to more abundant and cheaper production factors, such as expert engineering or raw materials multinationals internalize the benefits from owning a particular technology, brand, expertise or patent that they find too risky or unprofitable to rent or license to other firms due to the difficulties of enforcing international contracts * management and production expertise from the parent concern Other concerns raised by respondents included government regulation, established competition, and the availability of communications and digital infrastructure. C. How formidable is the competition posed by emerging markets MNE’s to the â€Å"Western† companies? Could it be country- or/and sector-specific? 500 words) Right now more than 20,000 multinationals are operating in emerging economies. According to the Economist, Western multinationals expect to find 70% of their future growth there—40% of it in China and India alone. But if the opportunity is huge, so are the obstacles to seizing it. On its 2010 Ease of Doing Business Index, the World Bank ranked China 89th, Brazil 129th, and India 133rd out of 183 countries. Summarizing the bank’s conclusions, the Economist wrote, â€Å"The only way that companies can prosper in these markets is to cut costs relentlessly and accept profit margins close to zero. Western companies have had many difficulties entering emerging markets to date, as they seemed to apply a wrong entering strategies, which were due to lack of knowledge and experience. Many comp anies have already been lured by the promise of profits from selling low-end products and services in high volume to the very poor in emerging markets. And high-end products and services are widely available in these markets for the very few who can afford them: You can buy a Mercedes or a washing machine, or stay at a nice hotel, almost anywhere in the world. Our experience suggests a far more promising place to begin: between these two extremes, in the vast middle market. Consumers there are defined not so much by any particular income band as by a common circumstance: Their needs are being met very poorly by existing low-end solutions, because they cannot afford even the cheapest of the high-end alternatives. Companies that devise new business models and offerings to better meet those consumers’ needs affordably will discover enormous opportunities for growth. Take, for example, the Indian consumer durables company Godrej Boyce. Founded in 1897 to sell locks, Godrej is today a diversified manufacturer of everything from safes to hair dye to refrigerators and washing machines. In workshops we conducted with key managers in the appliances division, refrigerators emerged as a high-potential area: Because of the cost both to buy and to operate them, traditional compressor-driven refrigerators had penetrated only 18% of the market. The markets and operating environments in India are radically different from MNCs’ home markets, making it possible a wide range of competitive encounters and outcomes. For example, there are several layers of product and customer segments that reward different approaches from competitors, making it possible for both local challengers and patient MNCs to find different starting places and, over time, compete more directly. Competition appears to be formidable for â€Å"Western† companies, since they are not really qualified to deal with MNEs of emerging markets, which keep on developing. Furthermore, it seems that the competition could definitely be both country and sector specific, as, regardless of the difference in trends perceived as important and the reported level of preparedness, companies, both Western and emerging multinationals, take a similar approach to the critical actions needed to address emerging countries’ consumer market trends. These include developing new products and services, adapting the brand strategy, conducting market research, and adapting the marketing communication strategy. References * Contessi S. , El-Ghazaly H.. (2010). Multinationals from Emerging Economies Growing but Little Understood. Available:http://research. stlouisfed. org/publications/regional/10/07/multinational. pdf. * Matthew J. Eyring, Mark W. Johnson, and Hari Nair. (2011). New Business Models in Emerging Markets. Available: http://hbr. org/2011/01/new-business-models-in-emerging-markets/ar/1 * Ernst Young. (2013). Focusing on emerging markets. Available: http://www. net. gr/? i=news. el. articleid=338400 * Jean Louis Martin. (2012). Emerging Economies in 2020. Available: http://www. capital. gr/news. asp? id=1497484 * Unknown author. (2013). Challenges in development of emerging economies. Available: http://www. stockwatch. com. cy/nqcontent. cfm? a_name=news_viewann_id=165565 * K. Ghosh and L. Yu. (2012). The future of emerging markets. Allianz Global Investors. 12 (1), 1-4 * AmCham and Booz Company. How to cite Emerging Economies, Papers

Project Management Plan free essay sample

Project Management provides the project with a responsibility hierarchy used to esolve issues that will affect the timely completion of the project. The Project Manager is ultimately responsible for the timely completion of the project but can only do so with the support of Senior Management. All issues compromising the quality, budget or delivery of the project will be discussed at project meetings. The project team will be responsible for developing solutions to project challenges to ensure the project stays on track. The Project Manager will distribute a weekly Project Status Report that identifies any issues affecting the critical path of the project or cost adjustments. The Project Manager will look to Senior Management to assist in negotiating the resources or project completion date . The Project Status Repo be distributed to Sponsors identified above. Project Scope the Project The scope of this project includes implementing the EPIC Electronic Health Record (EHR) application for Physician Clinic A. The project implementation will include: workflow analysis, hardware analysis, end user training, onsite Go Live coverage, and system design and build for appointment scheduling, clinical documentation, and physician billing. The implementation project will also include the introduction f scanners to photograph insurance cards. A notable exception to the project is the PC needed to run the scanner. Also, this project will not use a phased or staggered implementation. Further exclusions include EHR documentation conversion, multiple locations, or multiple physicians. Any modifications to the WBS will need to submitted to the Project Manager for review within the change management process as noted later in this document. Change Management Plan This section should describe your change control process. Ideally, this process will be some type ot organizational standard which is repea table and done on most or all rojects when a change is necessary. Changes to any project must be carefully considered and the impact of the change must be clear in order to make any type of approval decisions. Many organizations have change control boards (CCBs) which review proposed changes and either approve or deny them. This is an effective way to provide oversight and ensure adequate feedback and review of the change is obtained. This section should also identify who has approval authority for changes to the project, who submits the changes, how they are tracked and monitored. For complex or large projects the Change Management Plan may be included as an ppendix to the Project Management Plan or as a separate, stand-alone document. We have a detailed Change Management Plan template available on our website. The following steps comprise TSIs organization change control process for all projects and will be utilized on the SmartVoice project: Step #1 : Identify the need for a change (Any Stakeholder) Requestor will submit a completed TSI change request form to the project manager Step #2: Log change in the change request register (Project Manager) The project manager will maintain a log of all change requests for the duration of he project Step #3: Conduct an evaluation of the change (Project Manager, Project Team, Requestor) The project manager will conduct an evaluation of the impact of the change to cost, risk, schedule, and scope Step #4: Submit change request to Change Control Board (CCB) (Project Manager) The project manager will submit the change request and analysis to the CCB for review Step #5: Change Control Board decision (CCB) The CCB will discuss the proposed change and decide whether or not it will be approved based on all submitted information Step #6: Implement change (Project Manager) If a change is approved by the CCB, the project manager will update and re- baseline project documentation as necessary as well as ensure any changes are communicated to the team and stakeholders Any team member or stakeholder may submit a change request for the SmartVoice Project. The SmartVoice Project Sponsor will chair the CCB and any changes to project scope, cost, or schedule must meet his approval. All change requests will be logged in the change control register by the Project Manager and tracked through to completion whether approved or not. Communications Management Plan The purpose of the Communications Management Plan is to define the communication requirements for the project and how information will be distributed to ensure project success. You should give considerable thought to how you want to manage communications on every project. By having a solid communications management approach youll find that many project management problems can be avoided. In this section you should provide an overview ot your communications management approach. Generally, the Communications Management Plan defines the following: Communication requirements based on roles What information will be communicated How the information will be communicated When will information be distributed Who does the communication Who receives the communication Communications conduct For larger and more complex projects, the Communications Management Plan may be included as an appendix or separate document apart from the Project Management Plan. We have a detailed Communications Management Plan template available on our website. This Communications Management Plan sets the communications framework for this project. It will serve as a guide for communications throughout the life of the project nd will be updated as communication requirements change. This plan identifies and defines the roles of SmartVoice project team members as they pertain to communications. It also includes a communications matrix which maps the communication requirements of this project, and communication conduct for meetings and other forms of communication. A project team directory is also included to provide contact information for all stakeholders directly involved in the project. The Project Manager will take the lead role in ensuring effective communications on this project. The communications requirements are documented in the Communications Matrix below. The Communications Matrix will be used as the guide for what information to communicate, who is to do the communicating, when to communicate it, and to whom to communicate. Communication Type Description Frequency Format Participants/ Distribution Deliverable Owner Weekly Status Report Email summary of project status Weekly Email Project Sponsor, Team and Stakeholders Status Report Project Manager Weekly Project Team Meeting Meeting to review action register and status In Person Project Team Updated Action Register Project Monthly Review (PMR) Present metrics and status to team and sponsor Monthly Project Sponsor, Team, and Stakeholders Status and Metric Presentation Project Gate Reviews Present closeout of project phases and kickoff next phase As Needed Phase completion report and phase kickoff Technical Design Review Review of any technical designs or work associated with the project As Needed Technical Design Package Project team directory for all communications is: Name Title E mail Office Phone Cell Phone John Davis Project Sponsor j. [emailprotected] com xxx-xxx-xxxx Joe Green j. [emailprotected] com Herb Walker Senior Programmer h. [emailprotecte d] om Jason Black Programmer j. [emailprotected] com Mary White Sr. Quality Specialist m. [emailprotected] com Ron Smith Quality Specialist r. [emailprotected] com Tom Sunday Technical Writer t. [emailprotected] com Karen Brown Testing Specialist k. [emailprotected] com Communications Conduct: Meetings: The Project Manager will distribute a meeting agenda at least 2 days prior to any scheduled meeting and all participants are expected to review the agenda prior to the meeting. During all project meetings the timekeeper will ensure that the group adheres to the times stated in the agenda and the recorder will take all notes for distribution to the team upon completion of the meeting. It is imperative that all articipants arrive to each meeting on time and all cell phones and blackberries should be turned off or set to vibrate mode to minimize distractions. Meeting minutes will be distributed no later than 24 hours after each meeting is completed. All email pertaining to the SmartVoice Project should be professional, free of errors, and provide brief communication. Email should be distributed to the correct project participants in accordance with the communication matrix above based on its content. All attachments should be in one of the organizations standard software suite programs and adhere to established company formats. If the email is to bring an issue forward then it should discuss what the issue is, provide a brief background on the issue, and provide a recommendation to correct the issue. The Project Manager should be included on any email pertaining to the SmartVoice Project. Informal Communications: While informal communication is a part of every project and is necessary for successful project completion, any issues, concerns, or updates that arise from informal discussion between team members must be communicated to the Project Manager so the appropriate action may be taken. Cost Management Plan The Cost Management Plan clearly defines how the costs on a project will be managed throughout the projects lifecycle. It sets the format and standards by which the project costs are measured, reported, and controlled. Working within the cost management guidelines is imperative for all project team members to ensure successful completion of the project. These guidelines may include which level of the WBS cost accounts will be created in and the establishment of acceptable variances. The Cost Management Plan: Identifies who is responsible for managing costs Identifies who has the authority to approve changes to the project or its budget How ost performance is quantitatively measured and reported upon Report formats, frequency and to whom they are presented For complex or large projects the Cost Management Plan may be included as an We have a detailed Cost Management Plan template available on our website. The Project Manager will be responsible for managing and reporting on the projects cost throughout the duration of the project. The Project Manager will present and review the projects cost performance during the monthly project status meeting. Using earned value calculations, the Project Manager is responsible for accounting or cost deviations and presenting the Project Sponsor with options for getting the project back on budget. All budget authority and decisions, to include budget changes, reside with the SmartVoice Project Sponsor. For the SmartVoice Project, control accounts will be created at the fourth level of the WBS which is where all costs and performance will be managed and tracked. Financial performance of the SmartVoice Project will be measured through earned value calculations pertaining to the projects cost accounts. Work started on work packages will grant that work package with 0% credit; whereas, the remaining s credited upon completion of all work defined in that work package. Costs may be rounded to the nearest dollar and work hours rounded to the nearest whole hour. Cost and Schedule Performance Index (CPI and SPI respectively) will be reported on a monthly basis by the Project Manager to the Project Sponsor. Variances of 10% or +1- 0. 1 in the cost and schedule performance indexes will change the status of the cost to yellow or cautionary. These will be reported and if its determined that there is no or minimal impact on the projects cost or schedule baseline then there may be no action required. Cost variances of 20%, or +1- 0. 2 in the cost and schedule performance indexes will change the status of the cost to red or critical. These will be reported and require corrective action from the Project Manager in order to bring the cost and/or schedule performance indexes back in line with the allowable variance. Any corrective actions will require a project change request and be must approved by the CCB before it can be implemented. Earned value calculations will be compiled by the Project Manager and reported at the monthly project status meeting. If there are indications that these values will pproach or reach the critical stage before a subsequent meeting, the Project Manager will communicate this to the Project Sponsor immediately. Project Scope Management Plan It is important that the approach to managing the projects scope be clearly defined and documented in detail. Failure to clearly establish and communicate project scope can result in delays, unnecessary work, failure to achieve deliverables, cost overruns, or other unintended consequences. This section provides a summary of the Scope Management Plan in which it addresses the following: Who has authority and responsibility for scope management How the scope is defined (i. e. Scope Statement, WBS, WBS Dictionary, Statement of Work, etc. ) How the scope is measured and verified (i. e. Quality Checklists, Scope Baseline, Work Performance Measurements, etc. ) The scope change process (who initiates, who authorizes, etc. ) Who is responsible for accepting the final project deliverable and approves acceptance of project scope We have a detailed Scope Management Plan available on our website which can be included as an appendix to the Project Management Plan for larger or more complex projects. Be sure to review it and determine if its necessary for managing your Scope management for the SmartVoice Project will be the sole responsibility of the Project Manager. The scope for this project is defined by the Scope Statement, Work Breakdown Structure (WBS) and WBS Dictionary. The Project Manager, Sponsor, and Stakeholders will establish and approve documentation for measuring project scope which includes deliverable quality checklists and work performance measurements. Proposed scope changes may be initiated by the Project Manager, Stakeholders or any member of the project team. All change requests will be submitted to the Project Manager who will then evaluate the requested scope change. Upon acceptance of the scope change request the Project Manager will submit the scope change request to the Change Control Board and Project Sponsor for acceptance. Upon approval of scope changes by the Change Control Board and Project Sponsor the Project Manager will update all project documents and communicate the scope change to all stakeholders. Based on feedback and input from the Project Manager and Stakeholders, the Project Sponsor is responsible for the acceptance of the final project deliverables and project scope. The Project Sponsor is responsible for formally accepting the projects final deliverable. This acceptance will be based on a review of all project documentation, testing results, beta trial results, and completion of all tasks/work packages and product functionality. Schedule Management Plan This section provides a general framework for the approach which will be taken to create the project schedule. Effective schedule management is necessary for ensuring tasks are completed on time, resources are allocated appropriately, and to help measure project performance. This section should include discussion of the scheduling tool/format, schedule milestones, and schedule development roles and responsibilities. Be sure to check out the detailed Schedule Management Plan available on our website. The separate Schedule Management Plan is suitable for larger projects or projects where the schedule management is more formalized. Project schedules for the SmartVoice Project will be created using MS Project 2007 starting with the deliverables identified in the projects Work Breakdown Structure (WBS). Activity definition will identify the specific work packages which must be performed to complete each deliverable. Activity sequencing will be used to determine the order of work packages and assign relationships between project ctivities. Activity duration estimating will be used to calculate the number of work periods required to complete work packages. Resource estimating will be used to assign resources to work packages in order to complete schedule development. Once a preliminary schedule has been developed, it will be reviewed by the project team and any resources tentatively assigned to project tasks. The project team and resources must agree to the proposed work package assignments, durations, and schedule. Once this is achieved the project sponsor will review and approve the schedule and it will then be base lined. In accordance with TSIs organizational standard, the following will be designated as milestones for all project schedules: Completion of scope statement and WBSIWBS Dictionary Base lined project schedule Approval of final project budget Project kick-off Approval of roles and responsibilities Requirements definition approval Completion of data mapping/inventory Project implementation Acceptance of final deliverables Roles and responsibilities for schedule development are as follows: The project manager will be responsible for facilitating work package definition, equencing, and estimating duration and resources with the project team. The project manager will also create the project schedule using MS Project 2007 and validate the schedule with the project team, stakeholders, and the project sponsor. The project manager will obtain schedule approval from the project sponsor and baseline the schedule. The project team is responsible for participating in work package definition, sequencing, duration, and resource estimating. The project team will also review and validate the proposed schedule and perform assigned activities once the schedule is pproved. The project sponsor will participate in reviews of the proposed schedule and approve the final schedule before it is base lined. The project stakeholders will participate in reviews of the proposed schedule and assist in its validation. Quality Management Plan This section discusses how quality management will be used to ensure that the deliverables for the project meet a formally established standard of acceptance. All project deliverables should be defined in order to provide a foundation and understanding of the tasks at hand and what work must be planned. Quality anagement is the process by which the organization not only completes the work, but completes the work to an acceptable standard. Without a thorough Quality Management Plan, work may be completed in a substandard or unacceptable manner. This section should include quality roles and responsibilities, quality control, quality assurance, and quality monitoring. For larger or more complex projects, the Quality Management Plan may be included as an appendix or separate document. A detailed Quality Management Plan is available for use on our website. All members of the SmartVoice project team will play a role in quality management.