Creation of the World

The creation of the world has many different theories but according to Christian beliefs ‘’In the beginning God created the heavens and the earth. † (Genesis 1) The Bible states that God created the world is a 7 day time frame in which he started when God created first created light and separated the light from the darkness, calling light â€Å"day† and darkness â€Å"night†. On his second day of work God created an huge area to separate the waters and called it â€Å"sky. On his third God created the dry ground and gathered the waters, calling the dry ground â€Å"land,† and the gathered waters â€Å"seas. † , God also created plants and trees. Then on the fourth day God created the sun, moon, and the stars to give light to the earth to separate the day and the night. On the fifth day God created every living creature of the seas and every winged bird. On the sixth day God created the animals to fill the earth. On day six, God also cre ated man and women bringing humans to the world for the first time.Adam and Eve were the first humans that God created, man out of dust and woman out of man. God gave them one rule and that was not to eat of the fruit on one particular tree in the Garden of Eden. Eve was talked into eating the fruit by the serpent, and then she convinced Adam to eat of it as well. When they had disobeyed God, they felt ashamed and naked; so they hid from him. After talking with them, he punished them by banishing them from the Garden. This was the day sin entered the world and man’s nature is now sadly a sinful nature.This is why God sent his son to die on the cross for our sins so that we have the chance to live with him one day for eternity. This is how humans first had to encounter a real live situation and choose between good and evil. Finally on day 7 God had finished his work of creation and so he rested on the seventh day, blessing it and making it holy, and that is why Christians cele brate church and mass on Sundays that being the seventh and final day of the week.

Saturation Sampling

The parameters that underpin quality research especially qualitative research keep changing and so the need for more clarity and transparency. The lucidity and transparency of reports from qualitative research form the basic philosophical foundation upon which the rigor as well as credibility of the qualitative study is evaluated. Qualitative studies are highly anchored on the quality of the reports generated and thus there is increased emphasis on the data collection stage. Given that all reliable targets may not be available to the qualitative researcher, the concept of saturation sampling allows the researcher to survey all the identifiable targets. In other words, saturation sampling helps researchers to overcome problems of lack of intentional sampling frames. For that reason, the researchers will attempt to survey all samples available. In addition, Fontanella et al (2008) add that saturation sampling allows the researcher to take a multifaceted approach in the study by removing the limits to the techniques of data collection, the mode of use, and the type of data collected. This boosts the reliability of the investigation by providing as much information as possible (Fontanella et al 2008). An example of a research study that employed data saturation is found in the ‘Public Understanding of Science- Journal’ titled ‘Ethno-cultural community leaders’ views and perceptions on biobanks and population specific genomic research: a qualitative research study’ by Godard et al (2010). The authors of the article note that due to the large gap existing due to lack of sufficient data on views and perceptions of communities on biobanks, their qualitative study required an in-depth interview of ethno-cultural leaders but the public’s involvement was also important. In the conclusion of the study, the researchers found that leadership and general public must equally be involved in the partnership even if the public is not informed of the significance of the biobanks. In addition, the model allowed the researchers to identify various socio-cultural and ethical issues that impact on the effective performance of biobanks.

‘A Passion for DNA: Genes, Genomes, and Society’

â€Å"No one then had any compelling reason to take my hypothesis seriously, but by November 1952 I liked it well enough to print DNA  ® RNA  ® protein on a small piece of paper that I taped on the wall above my writing table in my rooms at Clare College.From the day of our first meeting, Francis Crick and I thought it highly likely that the genetic information of DNA is conveyed by the sequence of its four bases. But we knew it was premature to promote this idea before the structure of DNA was known. However, the moment we first saw how to build a double helix out of the four base pairs, it was clear that the essential uniqueness of a gene must reside in its respective sequence of four bases.†So wrote James D. Watson in his book, A Passion for DNA: Genes, Genomes, and Society. In this work, told with refreshing honesty, is the human story of how Watson and Francis Crick won a Nobel Prize for what may be the most important advance in the life sciences since Charles Darwin published The Origin of Species.In this collection of essays (written for a variety of occasions during the past three decades), Watson discusses the science and sociology of several issues – foremost are recombinant DNA, the nature of cancer research, the past, present, and future of DNA the Human Genome Project and its bioethical problems.The book starts with an autobiographical discussion of the events in Watson’s life that preceded his discovery of the double helix. He then describes his scientific mentors, collaborators and rivals, as well as his philosophy on science. (Watson’s advice for budding scientists: learn from the winners, take risks, have a fallback, have fun and stay connected.)In 1953, two young, unknown scientists sparked a worldwide revolution. Studying DNA for clues to the nature of genes, James Watson and Francis Crick deduced its molecular composition – two chains twisted into a double helix – and immediately realized that th e structure implied how genes were copied and passed from one generation to the next.Their observation has had extraordinary consequences: the discovery of a genetic code that all living things share and the realization that the code translates into proteins; the ability to alter an organism's genetic make-up; recognition that diseases like cancer begin when genes go wrong; the foundations of a biotechnology industry and the means of cloning plants and animals; a start on cataloguing human genes; and the glimmer of a new kind of medicine that uses DNA therapeutically.As public concern about genetically modified food mounts, here is Watson's salutary reminder, from a previous era of DNA anxiety, that restrictions on potentially rewarding research are justifiable only if there is robust evidence of likely harm.Commenting on the 1970s War on Cancer, he warns that effective leadership of publicly funded research initiatives, such as the current search for an AIDS vaccine, demands the co urage to support promising but risky new ideas and prune away anything less than the best. And as the first Director of the Human Genome Project, now approaching its climax, he acknowledges the past evils of eugenics but argues fiercely for the need to balance potential misuses of genetic data with the overwhelming benefits of a rational attack on the roots of disease.In an essay on cancer research and the â€Å"war on cancer,† Watson tells us that to win wars one must know the enemy and the location of the battlefield. When Richard Nixon declared a war on cancer, this information was not yet available. The discovery and elucidation of the action of oncogenes and of cancer viruses were pivotal for understanding the terrain, planning the strategy, and pursuing the war. Watson provides numerous examples to stress the necessity of research in the basic sciences for developing successful therapies against cancer.

B2B Marketing Assignment Example | Topics and Well Written Essays - 2500 words

B2B Marketing - Assignment Example suppliers management quality and timely supply of materials to C4U. Card for you (C4U) is a small to medium sized UK firm manufacturing greeting cards. Since its establishment in 1990, C4U with its 50 employee producing silk embroidered designed mounted hand made card. C4U is marketing its products with notion of personal touch and setting its cards apart from other card manufacturers. Due to specialize products positioning C4U charged customers almost double the cost in comparison to other card makers. Consumers see this price as good value for money. Consumers are mostly from middle class. Though C4U turnover has increased, its only in the last year down turn in sales make its promoters to think about its functioning. Company uses sales agent on commission basis to contact with retailers and having different types of retail outlets. It uses exhibitions and events for promotion. Raw materials are purchased locally and labour force is also local and unskilled. C4U sometimes faces problems of supply in short notice. Card market condition of UK is get ting saturated. So in near future C4U has to device certain strategies to improve sales. They have to think about consumers and intermediaries and work on different options like customer segments, product range, channel management, marketing communication polices, the way competitors device their strategies, supply chain management and finally the overall marketing system. Creating A Value Network: Value network is a system of partnership and alliances that a firm creates to source, augment and deliver its offering (Kotler, 2003). The value network perspective yields several insights. First, a company can estimate whether more money is made upstream or down stream, second it is more aware of disturbances anywhere in the supply-chain that might cause costs process or supplies to change suddenly and third, value network partners can link through technology for faster, less costly and more accurate communications, transactions and payments. (Adapted from, Hemil, Jukka. Information technologies for value network integration. Espoo 2002. VTT Tiedotteita -Research Notes 2149. 97 p. + app. 1 p.) Accessed from website http://www.vtt.fi/inf/pdf/tiedotteet/2002/T2149.pdf. The picture shows that how at the different level core company has been integrated to supply chain management and customer relation management. Technologies have enabled the companies to integrate effectively and efficiently. Most producers do not sell directly to the final users. Marketing Channels Between producers and customers stands a set of intermediaries that perform various functions; these intermediaries constitute marketing channels, set of interdependent organizations involved in the process of making a product or service available, for use or consumption (Stern & El-Ansary, 1996). Marketing channels have different levels as shown in the fig. i.e. number of intermediaries varies in different types of channels. Levels of marketing channels Accessed from the website http://www.upe.ac.za/documents/busman/SU10.pdf Marketing channel decisions are among the most critical decisions, which have to be faced by management, because the chosen channels intimately affect all the other marketing decisions. Corey (1991; Ch. 5) observed; "a distribution system is a key external resource. Normally it takes years to build, advertisement

The Economics of Crime. The Determinants of Rates of Crime in England Essay

The Economics of Crime. The Determinants of Rates of Crime in England and Wales - Essay Example Crime has been taken as a social issue and discussion on economics of crime follows. The crime incidence of England and Wales has been taken as the real world scenario. The market model of crime determines the expectations of the participants on probability of getting victimized. It has been found out that the elasticity of the supply and demand curve have a major role to play. In order to deal with the effect of crimes, the public enforcement laws can be made more stringent as that will reduce the opportunity cost of committing crimes and pay-off will get reduced. Aims and objectives of the study The overall aim of the project is to show the relevance of the economic analysis to real world scenario. The micro or the macro theory is used by the policy makers. There is no simple solution to the major social issues and the aim of the project is not to provide readymade remedies. The aim is not to take into account the fine details of the different policies of the government that relate s to social issues but the concrete aim of the study is to witness the way economists analyze problems relating to social issues. The aim is to show the use of economics in the vast fields and economics cannot be encircled only in business. Economics of crime The aim of the project is to determine the determinants of rates of crime in England and Wales. Some researchers put out their views by providing a framework in which they provide an economic analysis of crime. They assumed that the offenders are economically rational as well as utility maximizing. They predicted crime can be kept in check through stringent law enforcement polices as high prices for crime commitment would act as the disincentive for the offenders to participate in illegal activities (Winter, 2008). On the other hand if the labour market does not provide job opportunities the potential offenders would get involved in criminal activities as it reduces the opportunity cost of doing such activities. Following the i nferences many scholars were interested in empirically testing the predicted relationship between crime and variables which can influence the offender’s decision by affecting the costs and benefits of crime commitment (Eide, Rubin, Mehlop, 2006). The analysis has distinct implications for the purpose of policy analysis. The response towards crime is one of the priorities for governments. It is necessary to understand the effective control of crime and the interaction between crime and the various social factors. Crime can be reduced by increasing the income level of the offenders and if the empirical tests on the crime rates in England and Wales can confirm the validity of the predictions, it can be stated that economic growth can act as the effective way to reduce the frequency of crime (Peltzman, and Fiorentini, 1997). Effective control of crime through economic growth will be less costly for the government as economic prosperity is indeed the aim of the government (Freeman , 1999). The reduction of the rates of crime is a positive side effect of good conditions within the economy (Benson, 2010). The decision of committing crime is analyzed on the basis of cost. According to BBC Magazine the average cost of keeping an offender in prison for a year sums up to 50,000 pounds. The champions of community punishment point their effectiveness stating the reoffending crime rates to be at 36% compared to 60% among those released after short term punishments. Decision to commit crime: An individual can earn 100 pounds in legal

English 1010 Essay Example | Topics and Well Written Essays - 250 words - 1

English 1010 - Essay Example It was actually the conversation that Edge had, earlier in the day, with Lionel Dufour, the proprietor of the Farm Fresh Supplier Company, the Company that specialized in the making of the pickled pig lip, concerning the use of pickled pig lip as human food, that gave Edge the courage to taste the pickled pig lip. In the conversation, Dufour had reassured Edge that pickled pig lip is a very good human food. The article lastly describes how Edge eventually ate the pickled pig lip, despite being squeamish about eating it. With his courage bolstered by the conversation that he had with Dufour and, also, having been encourage by Audrey, the bar owner’s wife, Edge eventually ate the pickled pig lip together with some potato chips. Edge, however, fought the urge to vomit as he ate the pickled pig lip; but after eating it, Edge said that, although the taste of the pickled pig lip was foreign to him, the taste wasn’t altogether

Niccolo Machiavelli, The Prince (1532) Essay Example | Topics and Well Written Essays - 1000 words

Niccolo Machiavelli, The Prince (1532) - Essay Example His arguments were not based on some empty theorizing or on some abstract ideas. This strategy proved efficient in making his readers to relate to the ideas in terms of their high sense of realism. The examples also enhanced the memory of the leaders as they could now convert them into other situations that related to the same ideas. It would be important to consider the fact that some of the issues that were brought about by Machiavelli derived from things and events that he had witnessed in real life. As such, his arguments were only condensed out of the political realities of the day and from facts he had deduced from historical records. Historical and contemporary examples offered his arguments some form of comparative advantage when perceived from the perspective of other competing perspectives that existed during that time. It is therefore necessary to appraise the work of Machiavelli as a derivative of historical realism. Machiavelli’s arguments could be considered in t erms of the various issues that relate to the discourse of real-politick. His arguments were diagnostic in the sense that they exposed the characteristic of leadership from the point of view of the existing monarchs in various parts of the world. Historians contend that much of Machiavelli’s arguments were based on the life and times of Cesare Borgia and King Ferdinand of Spain. Machiavelli’s insistence on his acquaintance of contemporary affairs and a continuous study of the ancient world was meant to illustrate the fact that his arguments had the backing of political realities across the historical times. It is important to consider the multiple historical and philosophical influences that weave into the thinking of Niccollo Machiavelli. For instance, his ideas were drawn out of the real-life experiences he had undergone, which he related to some of the dominant political forces that shaped the histories of the world. Reality, according to Machiavelli, is a social co nstruct. It is therefore important to consider the many issues that attend to the influences that shape and are in turn shaped by the politics of the day. As a result, Machiavelli is regarded as an honest interpreter of times and political realities particularly from a pragmatic point of view. He based his philosophy in the idea of the things that work. He sought to understand the reasons behind events and situations from the relationship between the means and the ends of such realities. As such, his insistence on knowledge of world affairs and the histories of great people was one of the illustrations of his tendency towards political realism. On this note, it becomes necessary to consider some of the influences and happenings that engaged his opinions from the perspective of experience and reality. Constraints of a Prince’s Freedom of Action Machiavelli cited virtue, righteousness, honesty, and integrity as some of the factors, which hamper a Prince’s freedom of acti on. According to Machiavelli, a Prince must adopt characters and personalities that will help retain him in power. The Prince, according to Machiavelli must engage in the habits of both a lion and a fox1. He must have the courage to fend off threats of the enemy and must have some cunning of a fox. Machiavelli recognizes the virtues of integrity and honesty as things that a Prince should only adopt for the purposes of enhancing his image, but not really to engage in them as aspects of his authentic character. Machiavelli argued that such habits

Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 1000 words

Corporate Social Responsibility - Essay Example Corporate social responsibility helps build sustainable and stable business environments with healthy markets and surrounding communities (McCabe, 2). The key aspects for corporate social responsibility include; firstly, social investment which involves the company contributing to the infrastructure of the community. Secondly, transparency and accountability whereby the company is transparent on what they do, this will help build confidence from the outside on their business. Thirdly, CSR is aimed at enlightening self interest whereby they are able to work well with the community and, lastly, to increase the expectations of the community on their business and that it is not all about getting profits but, also for providing employment and helping the community in their projects. Corporate social responsibility involves a company’s social investment in a society and the trust they build through their CSR activities. A strong CSR is associated with good business and successful le adership; the way they relate to the community will affect their relationship with their customers and stakeholders (McCabe, 4). They, therefore have to be very careful in ‘giving back to the community’. This report will analyze the WD-40 company corporate social responsibility. WD-40 is a global consumer product company that deals with fabrication of products such as cleaning agents, chemicals, and aerosols. The board manages how the company handles its management and social responsibility, which includes compensations. The WD-40 CSR program assists the neighboring community, stakeholders and investors (WD-40 Company). The community is the greatest beneficiary of the CSR program. In terms of leadership and business ethics, they ensure that they treat all the stakeholders, customers and investors in the same way (Samuel & Celine Louche, 28). Leadership ethics involves the company’s culture of making ethical choices. It measures the company’s obligation to incorporating into the social aspects in their laid down objectives. Another important feature of CSR at WD-40 is transparency. Transparency put in place to ensure that the company is open in what it does to both customers and stakeholders. This help build trust in the whole society. WD-40 makes sure that it involves the employees in the verdict making process and administration of the company. This feature of CSR ensures that the company has a list of its stakeholders and how they engage with them and, that its part of global entities. In the aspect of community development, the company shows how it relates with the community through giving, donations and involvement in development activities (O'Brien, 2). The company should show their responsibility in protecting the health of the community at large. If they are engaging in construction activities, they devise ways to protect the environment by carrying out impact assessments and, giving the community a chance to show whether they are comfortable with their activities, i.e. they should be part of decision-making (McKinsey & Company, 5). The category that involves products and services covers the company’s responsibility in development and management of products and their impacts on the community. The company focuses on the health of consumers and market opportunities available. The quality of their products influences how a product or service will sell; they should ensure that their products work especially, that their products deal with cleaning (WD-40 Company). The human rights category measures the company’s commitment to respecting human rights and the freedoms associated with the human rights. This will help the company be recognized as one that values human

Starbucks - International Business Essay Example | Topics and Well Written Essays - 3500 words

Starbucks - International Business - Essay Example Although, previous researchers like Roby (2011) conducted research on international expansion strategy of Starbucks but these researcher focused more on marketing aspects of international expansion strategy of iconic coffee retailer but strategic dimensions of Starbuck’s international expansion remain scarcely discussed by scholars. In order to fulfil scarcity of research regarding strategic dimensions of Starbucks international expansion, this essay will try to shed light on pertinent issues regarding international expansion of Starbucks. Key objective of this paper will be to answer three questions, 1- how internal resources capabilities are supporting Starbucks to achieve success internationally, 2- how Starbucks has addressed challenges during international expansion and 3- what are the strategic initiatives that are taken by Starbucks to achieve success while expanding business internationally. In such context, business background Starbucks will be discussed in order to d evelop background for strategic analysis. Back Ground Analysis: Business Matrix of Starbucks Starbucks Corporation was established by Zev Siegl, Gordon Bowker and Jerry Baldwin during the year 1971 and the company is headquartered at Seattle, Washington, U.S (Starbucks, 2012). The company started its operation through opening single store in Pike Place Market of Seattle while in the next 42 years; Starbucks Corporation has expanded its operation over 61 countries (Starbucks, 2012). According to annual report published by Starbucks Corporation for the financial year ended 31st December, 2012, the company maintains distribution channel containing more than 10,000 stores (including licensed and owned stores) within USA and more than 20,000 stores across the world (including licensed and owned stores). Starbucks Corporation specializes in offering various coffee drinks, beverages, different types of hot drinks, side dishes, salads etc (Starbucks, 2012). Market capitalization Starbucks c lose to US$38 billion while sales revenue of the company hovering over US$ 12 billion. Starbucks Corporation faces competition from not only same segment players but also from competitors who offer cross segment products. For example, Starbucks offer similar kind of offering as Dunkin' Brands, Green mountain coffee while in domestic and international market; Starbucks Corporation faces intense competition from cross segment players like Nestle, McDonalds, Kraft Food and Wendy's International. Why Starbucks has been so successful to penetrate in distant markets while its competitors are gasping for maintain margin product differentiation equilibrium? Lee (2010) pointed out that competitive advantage for Starbucks lies on its ability to customize its product portfolio and service mix in accordance with the macro environmental requirements. Lee (2010) identified three strategic moves that have helped Starbucks Corporation to achieve success in international market such as, 1- establish ing licensing and partnership with distribution partners that can reduce dimensions of risks and contingency factors associated with expansion in international context, 2- differentiating in terms of product portfolio and service customization as per socio-cultural divergence in international countries and 3- customizing its integrated marketing communication as per socio-cultural divergence in international countries. In such context, Boston Matrix of Starbucks product portfolio

Physical Therapist Essay Example for Free

Physical Therapist Essay Physical Therapist [pic] Ka’Liyah Matthews Workforce Essentials 7th Block Mr. Boyd Advantages One advantage of becoming a physical therapist is that you get to know more people of different age groups, values, cultures, and faiths. The advantages of becoming physical therapist do not end there, qualified and skilled physical therapy professionals receive competitive salaries and excellent benefits as well. Disadvantages Sometimes physical therapist work long hours. They can get overworked, and have a heavy patient load. If working in a hospital they are exposed to all kinds of nasty bugs and viruses. Sometimes they have to hurt people. Job Outlook Although many people are training to become physical therapists, the supply of these workers is expected to fall short of demand. However, employment growth may be restricted by controls on health-care costs. Education Requirements To become a physical therapist, one must have a masters degree in physical therapy from an accredited institute and a state license. Moreover, he should possess strong interpersonal skills so as to communicate with the patient and his family. The physical therapy job demands scores of patience from the practitioner. Training Requirements Accredited physical therapy programs offer both masters degrees or doctorates in physical therapy. Applicants need bachelors degrees that include prerequisite courses, which are set by each graduate program. To be licensed, graduates of accredited programs must pass state examinations. Many states require continuing education to remain licensed in the field. Salary A physical therapist’s salary may vary slightly according to the type of employer. Most physical therapists are employed by health practitioners and earn about $73,980 annually. Benefits Benefits for salaried physical therapists included paid holidays and vacations, health insurance, and retirement plans. Self-employed therapists had to provide their own benefits. Work Schedule Most physical therapists work forty hours per week. Those who prefer flexible hours can usually find part-time or consulting work. Work Conditions Physical therapists usually work in clean, pleasant, and spacious areas. Some therapists treat patients who are confined to hospital beds or their homes. Because they treat patients who may be depressed by their disabilities, physical therapists should be patient and encouraging. They need to be in good health and should be able to work well with their hands. Opportunities for Advancement Experienced therapists can become supervisors of hospital departments. With additional education, they may teach physical therapy. Employment of physical therapists is expected to grow much faster than the average for all occupations through 2014, because the population is growing older and likely to need rehabilitation and long-term care. Advances in therapeutic techniques, especially for trauma victims and newborns with birth defects, should create additional demand for rehabilitative care. Personal Qualities Needed Physical therapists must possess problem-solving skills, resourcefulness, patience, manual dexterity, physical stamina, and the ability to work closely with a variety of people. Physical therapists must work well independently, as well as with a team of care givers. From initial examination and evaluation through the discharge of a patient or client, the physical therapists responsibility is to work with the individual to ensure maximal function. A love of lifelong learning, a positive attitude, and an outgoing personality would serve you well in this field.

Reasons For The Fast Global Growth Of Mcdonalds Marketing Essay

Reasons For The Fast Global Growth Of Mcdonalds Marketing Essay McDonalds success can be attributed to their ability to adapt their business to the diverse culture and fast pace of city life by providing quality fast food in a short period of time. Their restaurants are generally comfortable, clean and provide a variety of choices on their fast food menu. The quality of food is generally consistent and prices are low worldwide. This keeps production costs down enabling them to generate higher turnover every year. Furthermore, McDonalds expanded aggressively, opting to franchise rather than operate its new locations, providing new income and little overheads. They managed to provide a product and service to the global middle class, particularly in emerging markets like China, India, and Latin America. This gave McDonalds a massive advantage and great opportunity. By inducing the idea of going global, Kroc managed to attract the fast food market, using Franchised Restaurants, Company Operated Restaurants, and Affiliated Restaurants. To attract the local market Ray introduced a concept of localising the products, so that they will cater to all verities of the local craving. This approach increased the revenue as well as the stability of the company. Krocs strategy of making partnerships with other businesses created huge success to the company. Going in the same successful path, current management has made partnerships with companies such as Wall-mart, Sinopec, and Wall Disney to reach more customers. QUESTION TWO McDonalds needs to adapt to different cultures and conditions when it sets up business in different parts of the world. What problems might McDonalds encounter when it opens outlets in: 2.1 Countries in Eastern Europe? Eastern Europe constitutes an emerging market for most businesses. The collapse of socialism in the region in 1989 facilitated the move of countries to prepare for the participation in the capitalist market. In 1999, most Eastern European countries were working to meet the requirements for the European Community. In 2004, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovenia and Slovakia became members of the European Union. Membership of a number of European countries in the EU prompted the flow of foreign investments into the country, increasing household income, increasing investment into the region primarily due to cheap labour compared to wages in Western Europe. There was a general trend towards the improvement of the standard of living of citizens of Eastern European countries. However, in the last two years, most Eastern European countries experienced slowed growth due to the increase in the wages of workers that discouraged investments. Nonetheless, wages are still more competitive in Eastern Europe compared to other regions in Europe. Most Eastern European countries are still in the process of completing their transformation from a controlled to a capitalist Economy. Full transition and the stability of the political and economic institutions are expected to boost economic development in these countries. Assessing the potential of a new market for expansion requires the consideration of several factors providing a comprehensive background of the environment that the expanding business firm expect to enter into. In the past unrest created an environment of uncertainty for investors. Products would have to be sourced from nearby countries creating an increase in transportation and labour costs. EU currencies did not have strong buying power, so profit earned would not be enough to sustain the operating costs of the businesses in that region. Consumption volatility could also have an effect on sales on the eastern region due to the rapid increase in income resulting in a change in consumer behaviour. Employment and wage volatility are important factors in deciding to enter a new market because minimal employment and wage volatility translates to regular income for households influencing the stability of consumption resulting to sales and revenue for business firms. The economic condition of the state affects the financial condition of consumers and their ability to purchase the goods and services offered by entering business firms. Although there is a general trend for consumption, employment and wage volatility among European countries, introducing McDonalds into the region is viable for the following reasons: First, McDonalds will develop a market by providing technological, management and marketing expertise to local entrepreneurs enabling them to establish a known restaurant in different areas that creates jobs translating into income to households due to the hiring of local employees and the purchasing of raw materials from the local farmers and businesses. 2.2 Countries in West Asia? If McDonalds was to open a new outlet in one of the West Asian countries, it would have to take a few things into consideration. McDonalds would experience resistance from the Islamic countries for selling American food and culture. Also, Muslims do not eat pork so McDonalds would have to source Halal suppliers and adjust their menu variety to accommodate them. McDonalds has modified its products to cater for local tastes, not least in countries that have special dietary laws. In Muslim countries like Malaysia, bacon is not served in McDonalds burgers or in its breakfast menu, as pork is haraam, or not permissible under Islamic dietary law. In Israel, the nature of kosher dietary laws, forbidding the mixture of meat and dairy products, means that cheeseburgers are not popular among Jewish customers; furthermore, all meat not prepared in a certain manner is considered unkosher by strict observers of the dietary laws. (Spiritus-temporis.com, 2005) 2.3 Countries in Africa? In Africa McDonalds may face various problems when trying to open up new ventures in countries like Ethiopia, Sudan and Zimbabwe. Ethiopia borders Sudan and Kenya and it is one of the largest and poorest countries in Africa. Its population consists of about 74 million people. Two major religious groups occupy Ethiopia, Muslim and Ethiopian Orthodox, with Muslim being the majority. Unfortunately Ethiopia suffers some the worlds worst droughts in history, which in turn destroys their economy. Agriculture produces 60% of exports, and 80% of total employment for the country. In order to develop a McDonalds in Ethiopia, many major factors such as location analysis, market, competition, facilities style, and menu must be considered. McDonalds already has great marketing programs and strategies in place in other foreign markets so the corporation can help with those variables. Most cultures in Ethiopia will allow consumption of red meat such as hamburgers but not of pork. The bacon used for breakfast and on certain sandwiches can be available but also substitutable with turkey bacon. The Ethiopian culture also doesnt use utensils so they will also be available but optional. Zimbabwe is another country that is filled with Political and financial turmoil over the past few years. McDonalds had indicated its interest in Zimbabwe in 1997 and wanted to open a franchise in the country in 1999 but a political storm that year, which later precipitated an unprecedented crisis that saw inflation levels soaring to record highs, forced the fast foods giant to retreat. (bizcommunity.com, 2011) QUESTION THREE 3.1 Critically discuss McDonalds Globalisation Strategy Globalisation is the integration of markets and technology to a degree never witnessed before in a way that it enables individuals, corporations and nation states to reach around the world farther, faster, deeper and cheaper than ever before. Globalisation affects the whole world in ways that may benefit some while disregarding others. Global corporations, such as McDonalds manipulate their advertising to persuade a target audience to purchase and support what I believe to be an unhealthy scheme. Not only has McDonalds changed the way people view the world, but through negative impacts such as health issues, it has also manipulated the everyday life of individuals living in a global community. The faà §ade of healthy eating posed by McDonalds is epitomised through a short TV advertisement displaying the disturbing outcomes due to reliance on quick, easy and convenient food that people pay for, not only with their wallet, but also their health. Globalisation is the outcome of mixing the concepts of localisation and globalisation-as a portmanteau, it is the coming together of the two terms in a manner which suggests that there should be a way for businesses and people to think globally, act locally (Egan, 2007). In practice, this generates business strategies and manners of communication which seek to find innovative ways to blend together the use of a global communication network and scale with the desire to maintain individual areas and cultures, by means of modifying large scale organisations to suit smaller populations (Schumacher, 1967). Consider, for example, McDonalds: as an organisation, it is an incredibly large company which has put branches in many areas and across several different countries. But as they have continued to grow, there has been an increase in resistance against such large scale corporate food chains, as they are seen to ruin the character of a neighbourhood and drain it of culture, as well as provi ding food which is perceived to be substandard and unhealthy. They have therefore had to modify their business practices so as to instil practices which are more welcoming to the local populations, for example by focusing on foodstuffs which are popular amongst the local neighbourhoods and providing healthier, more upscale types of foods on their menu (Towers, 2004). Standardized and adapted approaches to communication are two dichotomous approaches to an advertising or marketing campaign which rely upon two very different methods and achieve differing results. A standardized approach to communication is based upon using the same marketing strategies and techniques regardless of where the campaign is being publicised. This would mean, for example, that the slogans and marketing materials are the same whether the global organisation is approaching a target audience in the United Kingdom or in India (DePalma 2004). A good example of this would be a company like McDonalds, whose campaign slogan Im lovin it remains the same no matter what country it is in-the slogan may be translated out of English and into the local language, but the concept and execution remain the same. The campaign was first launched in Germany in September 2003 as ich liebe es and followed in the United Kingdom and the United States soon after with Im lovin it. The benefits of a standardised marketing plan is that it is cost effective-as it does not require multiple marketing strategies to be drawn up and implemented-and that it helps to create a cohesive global branding concept (DePalma 2004). McDonalds, to continue the example, is easily recognisable the world over for the same branding concepts as any other country. McDonalds has grown from an organisation which had a few branches in the United States to an international phenomenon that has stores in nearly every country in the world. Known for reasonably priced meals with fast food and service, they have pushed even harder to become both a recognisable brand that draws customers in on the strength of their name and brand, but also to adapt to local mores and traditions in such a way to incorporate themselves into neighbourhoods in a strong fashion (Azarya, 2004). McDonalds has had a greater impetus to modify their business practices on a local scale as they are serving food products which are not always locally acceptable. In India, for example, where the Hindu religion prohibits the eating of beef, McDonalds has changed their menu to be primarily chicken and vegetable based, with several items being seasoned in similar ways to the local tradition (McDonalds India, 2010). 3.2 Explain why and how the entry stage of McDonalds was different in China in comparison with the rest of the world. McDonalds made a foray into China in 1990. In China of the 90s ancient belief systems rooted in Confucianism and Taoism were intermingling with Western ideologies, through the narrow window opened up by the Communist government at the helm. This was especially true with regards to thoughts on consumption, consumerism and brands. Although, the hurdles faced by McDonalds in China, like lack of quality supplies and distribution difficulties, were very similar to the Russian experience, it found a more accommodating and efficient bureaucracy and government in the Chinese. The Chinese government wanted to develop its fast food market and wanted McDonalds to take the risk in paving the way. Thus there was mutual interest involved and consequently, on the cultural acceptability front, McDonald did not have to labour as much as it had to in the Soviet Union where it had to stave off an ideological backlash before finding its feet. The interactions between the McDonald brand (and all that it stood for), and the Chinese cultural value system, combined to provide a synergy that resulted in some interesting developments. While in some cases McDonalds became an upholder of traditional values, while in other situations, McDonalds became an appropriate medium for consumers to explore new beliefs and ways of acting. This apparent paradox epitomized the fact that Chinese society was making a transition and elements of McDonalds value orientation were slowly being imbued by the Chinese masses. Two instances are cited to highlight this: McDonalds made a departure from the hierarchical set up of the dining experience in traditional Chinese restaurants, based on considerations of age. In McDonalds the seating arrangements were open, and everyone having equal access as to where to sit and what to order. In this case McDonalds encouraged the Chinese to make a departure from tradition. The lack of alcohol served in McDonalds led some consumers, primarily Chinese women, to embrace being able to be on a more equal footing with men while eating. In this case McDonalds upheld a traditional Chinese custom. In retrospect, in Russia, McDonalds has come a long way from the days of communism inspired anti-globalization backlash. Today, the McDonalds brand is a sign of quality for Russians, so being seen to work for it or supply to it is a highly regarded stamp of cultural approval. By investing in a strong local supply chain and teaching local producers, McDonalds has earned itself an almost unassailable position in the minds of the Soviet people who now view McDonalds as an international brand, run by local people and supplied by local people. It is little wonder that there are as many as 137 McDonalds restaurants in 37 cities with 500,000 customers a day. In a cultural milieu qualitatively different from that of the Americans, McDonalds has done remarkably well in China over the last 15 years. Analyzed from the cultural perspective, today McDonalds does not always denote Westernization in the minds of the Chinese consumers and the interactions are more subtle than that with the result th at McDonalds has absorbed elements of the traditional value system and the Chinese people have imbued elements of Western culture from McDonalds producing a powerful synergy in the process. (answers.com, 2011) QUESTION FOUR Explain some of McDonalds efforts to localize its offerings in China and describe how successful these efforts were. (operational issues) sourced local suppliers, employed local The Chinese fast food market has been booming in the last decade because of fast changing lifestyles and eating habits. The reason for this evolution is that Chinese consumers have accepted the Western-style fast food restaurants as a way of life in China. As a result, the popular American food has become a huge success story, creating a growing market for U.S. frozen potatoes. To position a product in a country, a good marketing strategy is needed. McDonalds success in China is based on a five-point strategy focused on product, price, people, promotion and place. A new trend is the introduction of the sixth P, namely profit. McDonalds also tries to improve the profitability in China. (Edward B. Colby, 2006) PRODUCT McDonalds product strategy consists of three categories. First they try to reflect the tastes and customs of the local markets by offering different kind of menus. The Chicken McNuggets in China come with the traditional BBQ, Sweet Sour, and Honey Mustard sauces, but theres also a Chilli Garlic Sauce, which is very popular in China. (Answers.com, 2007) In 2001 McDonalds Vegetable and Seafood Soup and Corn Soup were introduced. I think that these menu items were introduced because it was in line with their culture and love for foods with exotic taste. Clearly this proved to be a successful marketing strategy as it targeted the palatial needs of the Chinese people because of their ancient history and experimentation with different varieties of food. Furthermore McDonalds went on to introduce a local; version of its Dollar Menu calling it the Value Menu. This also proved a successful concept as most Chinese people are short, tiny in physique and very health conscious. The regular sized meals in the US and other parts of the world suited the BMI (Body Mass Index) height and weight of the average customer. Remember, Chinese people in general are not big eaters thus the reason for McDonalds offering a smaller and cheaper variation of the original product. Due to the urbanization and overpopulated cities, China has many problems with vehicles and parking. McDonalds opened restaurants and dessert kiosks targeting pedestrians and the general working class. Secondly, McDonalds also tries to provide information about their products. In cooperation with their global nutrition team, their local business units develop and implement nutrition information, which can be found on the packaging of the products. The packaging provides information on key nutritional values in a simple and clear format, so that customers around the world can use the information to make menu choices that suit their preferences. Also other communication tools are used, such as advertising both on television as on the World Wide Web to give information about the quality of their food products. (McDonalds Corporation, 2007) Thirdly McDonalds promotes physical activity, for example their sponsorship of the Olympic Games. McDonalds history with the Olympic Movement dates back to 1968. As the Worldwide Olympic Partner and the Official Restaurant of the Olympic Games, McDonalds has served millions of athletes. With the sponsoring of the Beijing Olympic Games in 2008 McDonalds wants to continue to promote an Active Balanced Lifestyle and Olympic Spirit among Kids, Families and Adults of all ages. (Beijing 2008, 2007) This strategy gained McDonalds a lot of support and trust from the Chinese people as their campaign supported good health and physical activity. PRICE The conventional wisdom about China is that most consumers are highly sensitive to price. As a result, a decrease in burger prices is likely to be more effective than a big marketing campaign. To convince Chinese consumers coming to McDonalds, McDonalds lowered prices for its basic menu consisting of a hamburger, fries and drink from 12.50 Yuan to 10 Yuan. (Scott Hume, 2007) Across China there are a lot of differences in purchasing power. Therefore McDonalds China is also exploring menu pricing by taking into account both market and restaurant. (James A. Skinner, 2006) PEOPLE McDonalds provides employment and growth opportunities for a lot of people, more than 1.5 million worldwide. Entering the Chinese market they can give many people the opportunity to operate in their restaurants. They focus also on training and development, which is necessary to learn the required skills, to do their jobs well. McDonalds has its own learning academy, namely the Hamburger University (HU), where a leadership development program is established based on Western management practices. (McDonalds Corporation c, 2007) PLACE There are two important evolutions concerning this subject. First evolution is to open McDonalds China 24 hours a day. Presently, more than 400 restaurants of the 800 restaurants in China have provided services for 24 hours a day. In Beijing 40% of the companys stores open their business for 24 hours. In Shanghai 50% and in Guangzhou 60% have a 24-hour service. The major reason for opening 24-hour restaurants is to meet the demand by the customers, because more and more customers need the services at night because of their changing living habits. In Beijing customers actually werent eager for the night service due to the relatively cold weather there at night. This is different from the customers in the warmer southern China. (Answers.com) The McDonalds success story in China is quite evident as they opened their first 1000th McDonalds restaurant faster than any other country outside the US and is the main focus for investment in the regionà ¢Ã¢â€š ¬Ã‚ ¦ They go one further to mention that they plan to have à ¢Ã¢â€š ¬Ã‚ ¦2000 outlets in China by 2013. Clearly this is quite an achievement in country that is diverse and rich on different culture. QUESTION FIVE Discuss the challenges that McDonalds faced when entering the Chinese market and to expand its operations. You need to use the Geert Hofstedes model to compare China and the U.S. and then highlight cultural challenges that the U.S. managers must be aware of in managing McDonalds operations in China) McDonalds difficulties and challenges in China McDonalds is considered as the most successful and largest restaurant chain in the world. In 1990 McDonalds opened its first store in Shenzhen China. In 1992, McDonalds Beijing outlet was opened. There are more than 800 McDonalds outlets in China today. (answers.com, 2011) In so far as the legal aspect was concerned, there were no franchise laws that existed in China. This posed a problem about how franchises should exist or operate. Chinese people were loyal to Chinese cuisine and felt that the fast food chains did not offer much variety to suit their palate. The Chinese preferred the traditional culture of food and drink complete with colour, fragrance, flavour, and variety. To make matters worse, they also faced intense competition by its biggest rival Yum Brands i.e. KFC. Not only did McDonalds have the difficult task of adapting their business to the Chinese culture and way of life; they also had to fend off their competitors. This meant finding other ways to compete against them and attract customers by changing their product range, style and advertising. Hofstedes Cultural Dimensions: China and The United States: One of the most popular works in the study of culture is that of Geert Hofstedes (1984). Through his research and surveys he theorized that cultural and sociological differences between nations can be categorized and quantified, thereby allowing comparison of national cultures to take place. Hofstedes identified four cultural dimensions. These are: 1. Power Distance The dimension of power distance is about the extent to which power structures are hierarchical and reflect significant inequalities in power. Countries with large power distances exhibit wide inequalities in power, power that is often concentrated in relatively few hands in heavily centralized and hierarchical organizations. Individuals within such cultures view themselves as inherently unequal: subordinates are dependent on those higher up the hierarchy and accept the power of their superiors by virtue of their position in the hierarchy. All participants in the hierarchy expect their position within it to be clearly demarcated. China is considered as a large power distance country. In small power distance countries, individuals are more inclined to regard themselves as equals: rather than expecting to be told what to do, subordinates expect to be consulted and will argue a case with those higher up the organization. Respect for individuals within the organization comes from their proven capacity to perform a role rather than from the possession of a particular job title or their place in an organization. Shorter small power distances coincide with flatter organization structures. The United States is considered a country with small power distance. 2. Uncertainty Avoidance Uncertainty avoidance measures the lack of tolerance for uncertainty and ambiguity. This manifests itself in high levels of anxiety and emotion. This in turn translates into a preference for highly structured formal rules and limited tolerance for groups and individuals demonstrating deviant ideas or behaviours. 3. Individualism vs. Collectivism The individualist-collectivist dimension measures the degree to which the interests of individuals or of the group take priority. The social framework in an individualistic society is looser than that of a more collectivist society and individuals take responsibility for themselves and their immediate as opposed to extended families. Individualist societies demonstrate a greater regard for individual rights and freedoms and tend to be characterized by assertiveness and competitiveness rather than by teamwork and cooperation. China is considered a country that is collectivist. In China, it is the group (which could be the extended family, the employer or the society as a whole) that looks after the interest of individuals and gives them their sense of identity. In return from this protection, individuals offer the group loyalty and work towards the attainment of goals determined by and for the good of the group, organization or society. The United States on the other hand is a highly individualistic society. 4. Masculinity Femininity Societies that place a high premium on assertiveness, achievement and the acquisition of material possessions are exhibiting aggressive or masculine goal behaviour. Masculine environments also favour conflict and competition in the workplace. Cultures that place a high value on social relationships, quality of life and sensitivity demonstrate passive or feminine goal behaviour. Cultures and workplaces scoring high on the femininity dimension exhibit high degrees of cooperation, negotiation and compromise. The United States can be considered as a masculine culture while China is leaning toward femininity. QUESTION SIX Where do you think the best opportunities for future growth lie for McDonalds? Why? Relations between the U.S. and China could be entering the realm of interesting times, but McDonalds seems undaunted. The fast-food giant recently announced plans to nearly double the number of Golden Arches locations in that highly coveted market. It comes as no surprise that American companies yearn for heated expansion in this populous nation. China has more than 1.3 billion people; one in five people on the planet live in China. Thats a lot of people who might want fries with that. Meanwhile, informal dining out in China is currently a $300 billion opportunity, and its expected to increase by 10% this year as the middle class in that country grows. An aggressive growth target for Chinese restaurants certainly looks like a good idea, given McDonalds 2010 plans to grow global revenue by 3% to 5%, and profit by 7% to 9%. In fact, China is the companys fastest-growing market in sales and income. As it stands now, China has 1,100 Mickey Ds. By the end of 2013, McDonalds plans to have planted 2,000 in the nation. China already represents 23% of revenue from the fast food giants Asia Pacific/Middle East/Africa segment. Lets look at McDonalds comparable-store sales by geographic region for the last several years (in constant currencies): MCD annual comparable-store sales 2009 2008 2007 Asia Pacific/Middle East/Africa 3.4% 9% 10.6% U.S. 2.6% 4% 4.5% Europe 5.2% 8.5% 7.6% *From company press releases and SEC filings. As you can see, in 2009 comps slowed down across the board, although admittedly, McDonalds faced tough comparisons in years past. Investors understandably get excited about U.S. companies that eye Chinese growth; one of the significant factors for the investment thesis for Yum Brands have been its presence in China, and its continued aggressive expansion. Last year alone, it opened more than 500 new restaurants there. Yum has more than 2,870 KFC outlets in China, and more than 450 Pizza Huts. You can see why McDonalds would be salivating to compete for some of that action. Of course, expanding into China is not without pitfalls. Although Starbucks is still waxing enthusiastic about its Chinese locations, its faced plenty of frustrating moments, including its 2007 retreat from the Forbidden City. Many U.S. companies have also had to navigate difficulties with the Chinese government and its policies, including Yahoo! and more recently Google. (www.fool.com, 2011) India may overtake China as the worlds fastest growing major economy by 2015, as the South Asian nation doubles infrastructure investment and adds six-fold more workers than its northern neighbour, Morgan Stanley said. Indias growth may accelerate to 9.5 percent between 2011 and 2015, Morgan Stanley economist Chetan Ahya said in an interview from Singapore today. Indias gross domestic product has expanded at an average 7.1 percent over the decade through the third quarter of 2009, compared with 9.1 percent in China, which surpassed Japan as the second-largest economy last quarter. (Bloomberg.com, 2011) India will surpass China, Japan and many other European countries in the current economic climate with their economic growth rate. It has one of the largest populations in the world. According to a survey by Bloomberg, the govt will invest millions of dollars to develop the countrys poor infrastructure. The creation of jobs in the manufacturing industry means that there will be an increase in consumer expenditure in the long term. McDonalds has great potential in reaching many more consumers in India because an injection of capital into the economy.

Objectives Of The Bretton Woods System Economics Essay

Objectives Of The Bretton Woods System Economics Essay Since the beginning of the 19th century, globalization, international trade and free trade between countries became the new economic order and several attempts have been made since then to develop policies and schemes to ensure the stability of the international monetary system. It is safe to say that in truth, the world economy has never been in a state of utopia, but nevertheless, we have never stopped trying to attain such. The Bretton Woods era of 1944 to 1977, one of the few fairly successful schemes the world powers created in trying to achieve economic utopia, though existed for a short period, has been accredited as being one of the most successful international monetary systems, so impressive was the economic stability and growth of the era that there have been ongoing talks for a comeback of the system. In this paper we attempt to shed some light on the defunct Bretton Woods system and the possibility of its comeback. In the first section, we discuss its history, design and objectives. Second section, we discuss the reasons for its demise. Third section, we discuss the reasoning behind the calls for a new Bretton Woods. Fourth section, we discuss the obstacles that could prevent the establishment of a new Bretton Woods and lessons from its past experience. Section five will contain the conclusion and some recommendations. SECTION ONE THE OVERALL DESIGN AND INTENDED OBJECTIVE OF THE BRETTON WOODS SYSTEM Background and Intended Objectives of the Bretton Woods system At the end of the World War II, 44 allied countries and Argentina came together in Mount Washington Hotel in the area of Bretton Woods, New Hampshire, United States, with a major motive of correcting the ills of the post-war I era which was characterized by International economic disorder, beggar-thy-neighbor policies- where countries trying to come out of their depressed states do so, but at the expense of other countries. The overall intended objective was therefore stable exchange rate and possible promotion of world peace. There was the recognized need for an institutional forum for International cooperation on monetary matters, so that in the advent of a world-wide crisis, such as world wars, there would be an internationally agreeable solution, rather than individual countries adopting selfish policies. Build-up of the System This recognized need had prior to the conference in 1944, instigated discussions amongst the British and American governments, and their economic experts, who had come up with different plans; Harry Dexter White of the U.S treasury on one hand, and Lord Keynes of Britain on the other, and the conference was seen as merely formalizing, and finalizing the agreements made. The final decisions which were agreed to at the Bretton woods conference were influenced majorly by the U.S plans. This is evident of the economic and military prowess of the United States at that time. The concentration of power in the hands of few countries, the like-mindedness of the overall goal (not necessarily the policies in achieving these goals) and the willingness and ability of one country-the U.S to takeover leadership, allowed for the success of the Bretton Woods conference. The Design The system was designed to incorporate the advantages of both a fixed rate system, such as the gold standard (stable exchange rate), and that of a flexible exchange rate system (flexibility), and the resultant system was the adjustable peg rate system. The Peg and Exchange Convertibility: The U.S dollar was pegged to gold at the fixed rate of $35 per ounce, and every other countrys currency was then pegged to the dollar at a par value which had to be maintained or defended by buying and selling the dollar in the foreign currency market. Though there was no International Central Bank to produce an International currency, and control its supply, the U.S dollar became in effect, the world currency. With the fixed peg of $35 per ounce of gold, the rate at which countries could exchange their dollar for gold and vice-versa, the U.S dollar became as good as gold, and this boosted faith in the U.S dollar. This system afforded an opportunity for exchange rates amongst countries to be fixed in the short run, within a 1% band around the pegged rate. A country could change the rate at which it was pegged to gold, outside the 1% band, only if its balance of payment was in fundamental disequilibrium. Why The U.S Dollars: The U.S was still the only currency being backed by gold, and at that time held three-quarter of the worlds monetary gold (Gold had been transferred to U.S by European nations during the war), leaving the $ the most appreciated currency to the rest of the world. It was also the strongest economy after the World War II, and was considered liquid enough to meet the demand of increasing Internationalization, and global trade. Addressing Liquidity: To satisfy International liquidity, and to prevent the repeat of the gold shortage of the 1920s, and the fallout of the fixed rate of the 1930s, another major decision to be made was as regards adequate supply of official monetary reserves; This was very fundamental to the effective running of an adjustable peg rate. The conference agreed to a system of subscriptions and quotas which reflected each countrys economic strength. The quota of each member country was made up of 25% of gold and the remaining 75% in the countrys domestic currency. The quotas were important also because they determined the voting right, and the amount of foreign currency each member country could borrow from the fund. The Commissions: Three commissions were set up at the conference to achieve its intended objectives. The first Commission headed by Harry D, White of the U.S treasury was designed to formulate the Articles of Agreement of the International Monetary Fund, which was at the very heart of the system. The second commission was also introduced to formulate the Articles of Agreement for the International Bank for Reconstruction and Development. This was chaired by Lord Keynes of the United Kingdom. It then had the duty of financing post-war international reconstruction and development. Now known as the World Bank, it remains a very influential global body with a broader capacity. The third commission, was chaired by Dr. Eduardo Suarez of Mexico, and it was charged with coming up with other means of International financial cooperation. SECTION TWO THE REASONS FOR THE EVENTUAL DEMISE According to economic historians, the Bretton Woods system came to a halt in the 1970s leading to a switch from a state-led to a market-led system of monetary control. Crucial events leading to its demise being the suspension of the dollars convertibility into gold  in 1971, the United states abandonment of Capital Controls in 1974, and Great Britains ending of capital controls in 1979 which was swiftly copied by most other major contries, amongst other reasons enumerated below: Balance of Payment: A major cause for the demise of the Bretton Woods system was its dependence on the United States economy. The system was designed to remain strong as long as the U.S economy remained strong. However, an excessive supply of US dollars on FOREX markets in exchange for other currencies led to the US dollar depreciation and appreciation of non-reserve currencies. To maintain the fixed exchange rate, non-reserve countries were required to intervene on the private FOREX. For example, the British central bank was required to run a balance of payments surplus, buy the excess dollars and sell pounds on the private FOREX market. This Balance of payment surplus had inflationary problems because of the excess supply of the non-reserve countrys currency. The U.S. economy also faced inflationary pressure from operating a balance of payment deficit, the federal government expenditure rose from financing the Vietnam War and social programs. The U.S used expansionary monetary policies, printing more money, in order to finance those huge expenses. This increased money supply, which led to U.S goods becoming more expensive than foreign goods due the rise in prices and caused a large demand for foreign currency. The Triffin Dilemma: Another reason for the collapse of the system was the Triffin dilemma. Robert Triffin was a Belgian economist and Yale University professor who highlighted the problems related to dollar overhang. Dollar overhang occurred when the amount of U.S dollar assets held by non-reserve central banks exceeded the total supply of gold in the U.S treasury at the exchange rate of $35 per ounce. Dollar overhang occurred in the system by 1960 and continued to worsen throughout the decade of the 1960s. By 1971, foreign holdings of U.S dollars stood at $50 billion while U.S gold reserves were valued at only $15 billion. This led to speculation on the U.S dollar, devaluing the dollar and holding gold became the safe route. In a gold exchange standard this linkage between gold and the reserve currency is believed to provide the constraint that prevents the reserve currency country from disproportionate monetary expansion and its ensuing inflationary effects. In the face of balance of payment deficits leading to a severe depletion of gold reserves, the U.S had several adjustment options open. One option was a devaluation of the dollar. However, this was not an option easy to implement. The only way to realize the dollar devaluation was for other countries to revalue their currencies with respect to the dollar, as the currencies were fixed to the dollar. The other devaluation option open to the US was devaluation with respect to gold. In other words, the U.S could raise the price of gold to $40 or $50 per ounce or more. However, this change would not change the fundamental conditions that led to the excess supply of dollars. At most, this devaluation would only reduce the rate at which gold flowed out to foreign central banks. Also, since the U.S gold holdings had fallen to very low levels by the early 1970s and since the dollar overhang was substantial, the devaluation would have had to be extremely large to prevent the depletion of U.S g old reserves. The other option open to the U.S was a change in domestic monetary policy to reduce the excess supply of dollars on the FOREX. Recall, that money supply increases were high to help finance rising federal deficit spending. A reversal of this policy would mean a substantial reduction in the growth of the money supply. If money supply increases were not available to finance the budget deficit the government would have to resort to a much more unpopular method of financing; namely raising taxes or reducing spending. The unpopularity and internal difficulty of such fiscal and monetary prudence led the U.S to resort to other options. Suspension of the Dollars Convertibility: The final blow on the Bretton Woods system came on August 15, 1971 when the then U.S president Richard Nixon announced measures to stem the excessive flight of dollars on foreign demand and reduce the balance of trade deficit as well as cause non-reserve countries to revalue their currencies against the dollar. The measures were a 10 percent surcharge on imports, a 90 day wage and price control, and the suspension of convertibility of dollar to gold. The 10 percent surcharge on imports was to force countries, such as Japan, to revalue their currency by 10 percent and the 90 day wage and price control was to prevent foreign exporters from transferring the burden of the 10 percent import tax through increased price on the American people as well as reduce inflation. The suspension of convertibility of dollar to gold ultimately ended the gold exchange standard of the Bretton Woods system and changed the system to a reserve currency system. This prompted the Smithsonian agreement of December 1971 where non-reserve countries agreed to revalue their currencies against the dollar for the 10 percent import charge to be dropped, and the eventual devaluation of the dollar. The price of gold rose from $38 per ounce to $44.20 per ounce in 1971 and even higher to $70.30 per ounce causing an increase in flight of dollar abroad and prompting non-reserve countries to abandon the pegging of their currency to the dollar and moving into a floating exchange rate regime. SECTION THREE THE REASONING BEHIND ONGOING DISCUSSIONS TO INTRODUCE A NEW SYSTEM The last 10 years have been followed by many public discussions about Bretton Woodss system with different controversial opinions. According to S.Dammasch (2000, p.11-12) Human rights activists argue that the programmes for the structural adjustment (SAP) of the developing countries initiated by the World Bank and the IMF has led to increase poverty of the East-bloc states. In contrast, however, major industrialized nations have begun to worry about the implications of the growing size and the speculative nature of financial movements in times of increasing globalization trends. Thus, calls for a new system of Bretton Woods have been heard in almost every industrialized country. Several calls have been made over the years for a refurbished international system to tackle the problem of uncontrolled capital flows amongst nations. Several Financial journalists have also noted that Financial crises since 1971 have been preceded by large  capital inflows  into affected regions. It wasnt until late 2008 that this idea began to receive substantial support from leading politicians. There has been a call by French President Nicolas Sarkozy during the World Economic Forum in Davos in 2010, for the reinvention of the Bretton Woods system of currency valuations in order to remove volatility and monetary manipulation by some nations to enhance their export successes. (Diane Francis, 2010) On October 13, 2008, British Prime Minister  Gordon Brown (APT Team, 2008) said world leaders must meet to agree to a new economic system: We must have a new Bretton Woods, building a new international financial architecture for the years ahead.' Generally the industrial nations experienced much slower growth and higher unemployment in the post Bretton Woods era, and according to Professor Gordon Fletcher in retrospect the 1950s and 60s when the Bretton Woods system was operating came to be seen as a  golden age. (Fletcher.G,1989). Financial crises are seen to have been more extreme and have increased in frequency with the emerging economies bearing the brunt of it before the most recent global financial crisis which started in 2007. Chief amongst these strengths of the old Bretton Woods as noted by Anna J. Schwartz (2000) was that there were low and stable inflation rates on the average for most Industrialised countries except for Japan during the Bretton woods era. More so, considerable expansion of international trade and investment and the real per capita income growth was higher than in any monetary regime since 1879. SECTION 4 CHALLENGES TO A NEW BRETTON WOODS SYSTEM Various factors have been identified as clogs in the wheel of the advancement of a new Bretton Woods system, some of them are: Evolution of the World Economy: One of the major reasons why a new Bretton Woods system might not work is because of how evolved the global economy has become in terms of international trade and monetary management. After the demise of the old Bretton Woods system, the following structural changes have taken place in world economies: Growth of international currency markets: due to the instability and lack of certainty in the financial world, having a fixed exchange rate became difficult and thus rational expectations and predictions were fuelled with uncertainty. Thus, for countries to make well informed decisions based on prevailing economic conditions, they adopted a floating exchange rate system, so that the true value of the economy could be revealed at all times. A major reason the Bretton Woods system was successful was because of its fixed exchange rate system. Thus, with the current increase in trade and volatility of the monetary system, a fixed rate system might be difficult to implement. Lack of Dominant Currency: During the Bretton woods era the U.S. dollar was the most stable and powerful currency. It was also the only currency strong enough to be exchanged for gold. Since it was the strongest currency, countries traded mostly in the dollar. Although currently, due to the prevailing economic conditions, the dollar and other currencies like the Chinese RMB, euro, yen are unstable and not strong enough to be dominant currencies. The Old Bretton Woods was successful because it only had one currency to measure by. The lack of a dominant currency would therefore pose challenges to the development of a new system and multiple currencies will only be more destabilizing. Derivative trading: with the emergence of the international currency markets, derivative trading has been a popular favourite of the financial market traders. Speculation, hedging, derivatives and arbitrage trading in the financial system have significant impact on the level of international prices and exchange rates, that it cannot be ignored. Integrating these in a new monetary system would involve complex controls which might be difficult to implement. Conflicts of Interest: Different nations have different levels of growth, different objectives, and different currency policies. For some countries adopting a fixed exchange rate is more convenient, while for others, especially developing countries having a flexible exchange is more profitable. Due to the varying preferences and objectives of each nation, being cooperative and following a particular policy could be quite inconvenient and disadvantageous for most. Floating Exchange Rate System: The fixed exchange rate system of the old Bretton Woods was advantageous but had limitations. Though it encouraged price stability and was anti-inflationary, its restrictive nature prevented necessary adjustments to economic disequilibrium. Presently, the exchange rates worldwide for most countries are flexible. This flexibility makes trade between developing and developed countries bearable and profitable. When fixed, trade is expensive for most developing countries. And with the current economic recession, flexibility is what the economy needs to make profitable trade. The Original vs. A Sequel: According to G. Rachman (2008, Financial times), a new bretton woods will flop. Reason being that; Like most sequels, Bretton Woods II is not going to be nearly as good as the original. The first conference gave birth to the World Bank and the International Monetary Fund. Its successor will be duller and less consequential. The first reason for this is that the global financial crisis, bad as it is, is not as bad as the Second World War. The war destroyed the established order and so the world leaders who drew up the postwar institutions on a blank slate. Second, there isnt enough time. The original Bretton Woods conference benefited from two years of preparation, and not a few weeks. Finally, there are conflicts of interest and U.S has neither the power nor the inclination to impose a new set of arrangements on the rest of the world. Of course his opinion is subjective, but in truth, given an ill prepared plan and conflicts of interests, a new Bretton Woods is most likely to fail. Inefficient Governance: Creating a Bretton Woods system that takes account of the complex intrinsic and extrinsic framework of the global economy is quite difficult. The economy has evolved a lot since the 1944 when the first Bretton woods system was made. There are more world leaders now, and the more the world leaders are, the higher the differences in preferences. Creating a Bretton Woods that could possibly integrate the objectives of all nations is not only difficult but if created will require high maintenance. LESSONS FROM THE OLD BRETTON WOODS U.S Deficit budget: During the Bretton woods era, the U.S ran deficit budget. Due to the nations constant lending to other nations, they experienced a severe deficit in their balance of payments which strongly affected their international financial position and status negatively. This deficit made the dollar weak and undependable. Due to the large scale of economic activities globally, the exchange rate is always adjusting to reflect the real value of the economy. Thus having just one currency pegged to gold in this present time is no longer reasonable. Currencies need to be flexible against each other, so that when a nation runs a deficit, and its currency looses value, the whole economy will not lose at the same time. Bretton Woods Policies: When the policy of a fixed exchange rate system was established, the financial strength of developing countries was not adequately taken into consideration. In the short run, the fixed exchange rate worked well for the developed countries, but as the developing countries claimed independence and began to evolve into the global economy, trade with the developed economies at a fixed rate was definitely too expensive for them. Moreover, polices imposed by the World Bank and IMF on developing countries like SAP i.e. structural adjustment program didnt work out well on the developing countries, it has been argued that it worsened their level of poverty, S.Dammasch (2000, p.11). The Slide to breakdown: The breakdown of the Bretton Woods system occurred via the failure of the dollar as the dominant currency, the rules of cooperation for its convertibility into gold and the exchange rates regime. The lack of a backup currency to resolve the issue or at least minimize the losses incurred contributed to the demise of the system. Thus the Bretton Woods dependence on the dollar been the only currency that could be convertibility to gold was too risky. Short run vs. Long run functions: Another problem with the Old Bretton Woods was that the same plan was made for the short run and long run. Right after World War II, the international monetary system was only concerned with their present predicament of how to get the economy back on track. Given the destruction caused by the war, addressing the pressing need of the economy was appropriate but during evaluations in the short run, proper schemes and policies should have been arranged to counter what could go wrong in the long run. The undoing of the Bretton woods system was that the plans for the short run were allowed to run indefinitely into the long run until they could no longer hold. Thus the system defaulted. SECTION FIVE RECOMMENDATIONS AND CONCLUSION The worst banking crisis since the  Great Depression  strongly suggests that a global rules-based system is necessary to oversee financial markets and coordinate economic management. Hence, this has led to the ongoing discussions to reintroduce the Bretton woods system. As discussed in the earlier part of this paper, this is not going to be an easy task as the worlds market economy has drastically changed and thus cannot be compared to mid 90s. This has led us to suggest some recommendations which should be helpful if this vision of reintroducing the Bretton Woods system is to be realized. A new Bretton woods system is plausible as long as it can adapt to varying economic conditions as the global economy evolves. Thus the following: Stronger monetary policy: Given the current system of floating exchange rates, the World Bank should advise the governments of each country to implement monetary policies that ensure that their currency is not undervalued or overvalued. Inflation targeting: Plans to prevent the occurrence of repetitive financial crises should be made; one defect that is common in all financial crises is inflation. Inflation is good for the economy, but when this inflation is excessive, the growth is one-sided. Thus as economic growth occurs for some sectors of the economy, other sectors are worse off accumulating loss and debt. There is a huge case of inequality in the economy and no real economic development ever occurs. Thus a new Bretton Woods system should take considerate account of the inequality caused by inflation. Regulation for derivatives: From the recent financial crisis, derivative trading has been seen to have played a huge role in increasing the negative impact of the crisis. If possible, a special regulation body or committee should be tasked with responsibility of monitoring and regulating the derivatives market. Because most derivatives are OTC, there is no public information as to their transactions, but since it has proven through the recent crisis that it has a strong hold in the market. Such activities should be divulged to the government. So, that to a certain extent an adequate regulatory framework can be established and financial loss minimized.

Positive Impacts of E-books Essay -- electronic books

There are a lot of sources of information which provide readings in many mass mediums such as books, encyclopedias, newspapers, brochures and many more. In line with the advanced progress of technology, readings also could be done digitally on computer screen. Up to date, electronic books or much simpler to be known as Ebooks are preferable in search of wide range of information. Referring to Viloria, (2008) â€Å"Ebooks are form of texts, pictures, video and even audio comprised into an electronic file. For instance, a document typed in Microsoft Word is one of the examples of an ebook† (p.1) They are extant in different formats for example PDF, PDA and EXE-compiled HTML format. This type of on-screen documents increasingly used because of their vast vantages compared to conventional printed textbooks. This essay which entitled â€Å"The Positive Impacts of Ebooks† explicates several impacts, which means strong effects of electronic books towards various issues. First and foremost, electronic books bring a promising impacts towards environment since they reduce the needs of trees for the purpose of printing. According to the site â€Å"Environmental Science & Technology,† (2008) â€Å" Reducing paper use does more than save trees. Pulp and paper mills are also a major source of pollution. The reason that pulp and paper mills are contributing to pollution is because they release harmful gases to atmosphere such as carbon dioxide, nitrogen oxides, sulfur oxides, carbon monoxide and particulates, which cause global warming, acid rain, smog and what worst to human, is respiratory problems.†(p.4242-4245) Scientifically, paper bleached with chlorine release dioxin, a carcinogenic substance. It is always a good idea to save the environment by recycl... ...ant, J. M. A. (2004). Are electronic books effective in teaching young children reading and comprehension? International Journal of Instructional Media, 31(3), 303. Grimshaw, S. (2007). Electronic books: Children's reading and comprehension. British Journal of Educational Technology, 38(4), 583-599. Harroff, W. (2010). E-Books Advantages Over P-Books. Charlotte Johnson. Retrieved November 15 2010 from http://faculty.mckendree.edu/william_harroff/ebe/ebook_advantages_over_pbooks.htm Nelson, M. R. (2008 March/April). E-books in higher Education: Nearing the End of the Era of Hype? Retrieve Nov 18, 2010 from ECAR Research Bulletin. www.educause.edu Stanford University Makes E-book Investment. (2007, July 6). In Book Business Magazine. Retrieved Nov 17 2010 from http://www.bookbusinessmag.com/story/story.bsp?sid=68596&var=story.

One Man, One Vote? Essay -- essays research papers

One Man, One Vote?   Ã‚  Ã‚  Ã‚  Ã‚  Joseph Farkas thinks that every vote cast should equal every other vote. He feels that many people are voting without knowing why they are voting for a certain person or why they aren't voting for another. He says that a vote cast by a person with no or very little knowledge in the election should not count as much as a vote cast by a person who knows alot about the election. The people who care about who has an important role in the government should have a bigger say in who is going to have that important role. The votes cast by a person who doesn't really know why they are voting for someone should not equal as much as an election educated person.   Ã‚  Ã‚  Ã‚  Ã‚  I do not think that this is a good idea at all. It would not encourage people to learn more about the election but keep them away from the voting area. It will probably make people not want to vote because many of them would think that their vote will not mean as much to the election. It would make the people who are familiar with the candidates want to vote because they would have a bigger say in who gets elected. It would be very hard to decide who know what about the running candidates and issues that are being addressed. They would have to give some kind of multiple-choice question test that you had to fill out while voting. It would take a long time for each person to vote and I think that would make people less encouraged to come and vote. Sin... One Man, One Vote? Essay -- essays research papers One Man, One Vote?   Ã‚  Ã‚  Ã‚  Ã‚  Joseph Farkas thinks that every vote cast should equal every other vote. He feels that many people are voting without knowing why they are voting for a certain person or why they aren't voting for another. He says that a vote cast by a person with no or very little knowledge in the election should not count as much as a vote cast by a person who knows alot about the election. The people who care about who has an important role in the government should have a bigger say in who is going to have that important role. The votes cast by a person who doesn't really know why they are voting for someone should not equal as much as an election educated person.   Ã‚  Ã‚  Ã‚  Ã‚  I do not think that this is a good idea at all. It would not encourage people to learn more about the election but keep them away from the voting area. It will probably make people not want to vote because many of them would think that their vote will not mean as much to the election. It would make the people who are familiar with the candidates want to vote because they would have a bigger say in who gets elected. It would be very hard to decide who know what about the running candidates and issues that are being addressed. They would have to give some kind of multiple-choice question test that you had to fill out while voting. It would take a long time for each person to vote and I think that would make people less encouraged to come and vote. Sin...

Environmental issues Essay

Nowadays, environmental issues are rapidly raising concerns and awareness to the society. It is good to know that problems involving environmental neglect and degradation are a problem of environmentalists no more, but also of politicians and ordinary citizens as well. Say, we should analyze a hypothetical problem regarding the issuance of business license in a local western coast, where two pre-dominant businesses already exist, a bait fish fishery of pilchards and an oyster lease. There are two promising businesses vying for the license, a Tuna Cage Farm and a Dolphin Swim Tourism Project. Both of the new establishments would create added benefits and disadvantages to the area and the pre-existing businesses, so the choice should be carefully examined. Primarily, the bait fishery in the western coast consists of pilchards. Pilchards are any of various small marine fishes especially the commercially important edible species. These pilchards are caught throughout the year, mostly during the night, using purse seine nets. The nets are pursed and drawn to an area adjacent to the vessel, and fish are removed from the net with pumps and placed in the hold of the boat. In layman’s term, pilchards have a wild capture. Unlike the wild pilchard capture, the tuna harvest is spawned in floating cages. Since it is a controlled environment, the unutilized feed components in the cages usually accumulate in the ambient water columns and substantially alter the benthic environment for the fishes. The toxic wastes from tuna cages caused massive pilchard mortalities, as shown in 1995 and 1998 incidents. Furthermore, the toxic wastes spread far at a rapid pace, about 500 km in 20 days, as shown in graph. The Dolphin Swim project, on the other hand, would introduce more boats that might disrupt the spawning season of the pilchards. There is also a probability that dolphins would consider the pilchards as prey. But aside from that, the dolphins can co-exist peacefully with the pilchards. The benthic area is preserved and the probable food cycle is just a natural process. Moreover, the industry in the coast will be promoted. Comparatively, it is evidently more harmful to facilitate a tuna cage farm with a co-existing pilchard industry; thus, the Dolphin Swim project should be favored. The decision was based on two significant aspects; which business is economically efficient while remaining ecologically sustainable. The Dolphin Swim Industry fulfilled these criteria.

To Kill a Mockingbird Article

The Tale of the Boo Jem Scout Maycomb County – In the small neighborhood on my block lives a house that may or may not contain a malevolent phantom. This is the Radley’s place. Dill, Scout, and I know the tale of this evil Boo Radley, and during the summer we share the tale of him to tell people of the tales. It started with one summer, when Dill dared me to go touch the Radley’s house. Usually , we play out scenes of the stories of Arthur. As Dill says, â€Å"I played old Mr.Arthur and walked up and down the sidewalked. Coughed when Jem, who played as Boo, talked to me. He went under the front steps and shrieked and howled from time to time. † {Reference to page 51-52} Atticus claims that we are tormenting Boo Radley, and says, â€Å"You never really understand a person until you consider things from his point of view – until you climb into his skin and walk around in it. † {Chapter 3: TKAM} This time though, Dill took my book, The Gray, and I needed it back.He said he would give me my book back afterwards if I touched the Radley’s house. When I went to touch the house though, â€Å"the house was the same, droopy and sick, but as we stared down the street we saw an inside shutter move. Flick. A tiny, almost invisible movement, and the house was still. † {page 19, TKAM} Another time, there was a fire at Miss Maudie’s house. Scout and I had to stay by the Radley’s home, and we didn’t even notice who put the blanket on Scout. Atticus says, â€Å"Boo Radley.You were so busy looking at the fire, you didn't notice when he put the blanket around you. † {Page 96, TKAM} Miss Maudie says, â€Å"His name is Arthur and he’s alive. † {Page 57, TKAM} I don’t believe it, I think he’s been dead and was stuffed up the chimney. And even if he is alive, why would he be cooped up in the Radley’s house? Dill said this: â€Å"Why do you reckon Boo Radley's never r un off? † †¦ â€Å"Maybe he doesn't have anywhere to run off to†¦ † {Page†¦ 163? TKAM} Whether Boo Radley is alive or dead, he is here.

Comparative Formal Analysis of Artworks

The rise of civilization follows hen humankind decided to build for themselves a more stable and promising life. Culture shifts then occurred between the Paleolithic and Sumerian periods due to the civilization of Mesopotamia, and humankind developed a polytheistic culture In which rituals and worshipping came Into play. Statuettes of Worshippers (ca. 2700 BCC. ) from the Square Temple at Susquehanna, Iraq, were one of the representations of the Sumerian culture. The emphasis on different body parts of the sculptures signifies a shift in culture due to the rise of civilization.Life during the Paleolithic period was plain tit meager cultural resources. Venus of Wildflower is a tiny three-dimensional female figure, approximately 4 1/4†³ high, created with simple sculpting tools, probably something similar to a chisel, and a piece of Limestone. The sculpture displays a woman with her pair of thin forearms resting on her breasts and a huge belly hanging above her pubic triangle. The roundness of her body parts dominates the whole sculpture.The tools and media available at that time period set a limit on the techniques of creation, leading to the rugged coarseness of this sculpture. In imprison with a normal human figure, Venus of Hellbender Is exaggerating out of proportions, which seems to misrepresent women from the Paleolithic period. The title of this sculpture, Venus, may be an attempt to explain the distortion and the nakedness of her body. Venus, who is the goddess of beauty and love according to the Roman mythology, might be depicted as the goddess of fertility during the Paleolithic period.The figure, lacking facial features which may be covered by the braided hair, leads the audiences' focuses to her enormous body parts, especially ere breasts and belly. Her belly bulging out may suggest pregnancy while the conspicuous outline of her pubic triangle may represent fertility. From another point of view, Venus of Wildflower, with the fullness of her body , may also be a symbolization of desire for abundance. The Intention of this relatively small sculpture might have been some kind of amulet men carried around or maybe It even acted as a motivation for men hunter to hunt for abundant amount of food.In this sculpture, the emphasis of women's delectate body parts Implies that mankind in the Paleolithic period tends to create what they desire, in the case of The way of living, as well as the culture, changed with the rise of civilization in Mesopotamia. No longer did people in Sumerian period live a hunter's live; instead, they worked to create a more stable life by farming and herding, which was an evidence of civilization. Significant inventions during the Sumerian period equipped people with improved tools and media to create sculptures with better techniques.Apparently, the Statuettes of two worshippers have a smoother surface and texture comparing to Venus of Wildflower. The material of the statuettes was soft gypsum inlaid with s hell and black limestone while Venus of Wildflower was created with limestone only. Clothing and facial features were carved onto the statuettes of the two worshippers unlike the sculpture of Venus of Wildflower. The men wear a fringe skirt with a belt while the women wear a long robe. And instead of enormous breasts and belly, these statuettes have in common outstanding, round eyes.This reveals a cultural meaning of the Sumerian period that gender is differentiated not by sexual body features, but by appearance and clothing. Comparing to that of the Venus of Wildflower, the statuettes have a more normal proportion, despite the size of their eyes and hands. Although these statuettes of worshippers were manufactured in a wide range of sizes, they all have a common body gesture: having a neutral facial expression and standing upright with their small hands together placed in front of their chests.The position of the hands, along with their head slightly tilted upwards, may suggest tha t they are praying or begging for something from deities or any other gods and goddesses they believe in. Also, the small hands of the statuettes may imply that they have a limited ability and their huge, pitiful eyes seem to represent a desire for something in return; for instance, help from the deities to cure a disease.These statuettes of worshippers were found in homes as votive figures probably because common people were not allowed to visit the Gujarat in that time period. Not only do these statuettes signifies a civilization, they also mark the shift of culture and the development of religions and beliefs. The similarities and differences of Venus of Wildflower and the Statuettes of two reshipped from two different historical time periods display a major change in the culture along with the way of living among a group of people in a society.Moreover, the emphasis on certain body parts can be viewed as the main symbolization of the individual sculpture. In this comparison, the breasts, belly and pubic area of Venus of Wildflower represent fertility and abundance while the eyes and hand gesture of the Statuettes of two worshippers symbolize belief and desire for help. In general, different artworks created in different historical time periods usually reveal a major revolution or a shift in culture.