The And Regulatory Reform Act 2013 - 1294 Words

In recent yearsï ¼Å'with the failures, people in prominent organisations are going to be requested to consider the applicability of their corporate governance. Moreover, the ‘Enterprise and Regulatory Reform Act 2013’ allowed the shareholders in UK have a binding vote on executive compensations. Corporate governance is defined as the regulations which are aimed to control those responsible for administrating an organisation (Boddy, 2014:p99). The wholesome corporate governance has been established through the supervision of external market and the internal positive enterprise culture. It can influence the share price and raising capital costs of a business. The good quality of a firm’s corporate governance is determined by the power of†¦show more content†¦From the outside of corporate governance, Wright (2004) argues it is a key component of enhancing the country’s financial systems and improving the responsibility to make investors be more confi dent. In addition, corporate governance is crucial to a business; it is always generated the contradictions between shareholders and professional managers (Thomas Ward, 2012:p102). O’Donovan claims that corporate governance is an internal management system which involves policies, processes and people - aimed to use good commercial knowledge, objectivity and integrity to serve the demands of shareholders through controlling management events (O’Donovan citied in Thomas and Ward, 2012). The internal management system expresses the command and control mechanism within the business. Therefore, corporate governance involves setting up the rational executive compensation (Hallock and Murphy 1999). The setting of executive compensation is important as a result of providing appropriate motivations to executives and improve their work performance; thus, reducing the contradictions between shareholders and executives (Balsam, 2002). However, Gomez Mejia (1994) argues that a goo d compensation package can offer welfare to both executives and shareholders; nevertheless, a poor package of compensation is useless to stimulate executives, even a waste of capital resources (Mejia

The Great Depression Of The 1930 S - 832 Words

The Great Depression of the 1930’s was enveloped within a rather large scheme of issues that were left to the wayside until it was to late. One indefinite issue can not be highlighted, due to the complexity and despair the occurred during this time period. The date that begun the financial meltdown was noted as â€Å"Black Tuesday†, this specific date occurred on October 29, 1929. Perhaps though, this was a day of climaxing events that exacerbated the Great Depression. The time period that preceded the Great Depression was termed as â€Å"The Roaring Twenties. The time period was noted for the overabundance and overdependence on multiple form of production, specifically the beginning of the automotive industry. Within this time period was a pronounced disparity between the economic classes (Romer). When analyzing the masses that lived in poverty during this time period we can see that, â€Å"60% of the population was living below poverty levels, while a mere 5% of the wealthiest people in America accounted for 33% of the income, and the richest 1% owned 40% of the nation’s wealth. This uneven distribution of wealth was mirrored in the unequal distribution of riches between industry and agriculture† (Causes of The Great Depression). Another prudent point that we need to discuss is the affect that many other nations experienced during this period of time. Many of the economies rely upon each other to function, when one is in turmoil others will follow suit. Europe was still under tormentShow MoreRelatedThe Great Depression Of The 1930 S1476 Words   |  6 Pagesthe great depression of the 1930’s and the great recession in the United State of America. First, I’ll make a general overview of each of these two different periods and then focus on certain specific aspects during these different times. This will include the causes to the economic recessions witnessed, impacts of the economic recessions and the solutions that were introduced. When talking about any topic regarding American history, it would be hard not to mention the 1930’s great depression. AuthorsRead MoreThe Great Depression Of The 1930 S Essay762 Words   |  4 PagesJohn Maynard Keynes was the most influential economist of the 1900’s and many of his ideas were adopted by Franklin D. Roosevelt to combat the Great Depression of the 1930’s. With the passing of the economic crisis in 2008, countless articles have been published supporting Keynes and his economic thought. He investigated the origins of the Great Depression and remodeled the field of economics with a basic conclusion: economies recover from downturns by spending money. Keynes theorized that duringRead MoreThe Great Depression Of The 1930 S1026 Words   |  5 PagesJohn Maynard Keynes was the most influential economist of the 1900’s and many of his ideas were adopted by Franklin D. Roosevelt to combat the Great Depression of the 1930’s. With the passin g of the economic crisis in 2008, countless articles have been published supporting Keynes and his economic thought. He originally investigated the origins of the Great Depression and remodeled the field of economics with a basic conclusion: economies recover from downturns by spending money. Keynes theorizedRead MoreGreat Depression Of The 1930 S1439 Words   |  6 Pagesintroduction of GATT, it is important to note that the trade was not always free. Many nation states including the United States had protectionist policies in place to give them an advantage. These protectionist policies grew during the great depression of the 1930’s and these depressing economic conditions are believed to be what gave rise to Hitler and the Second World War. According to David. N. Balaam and Bradford Dillman, authors of the introduction to International Political Economics 6th editionRead MoreThe Great Depression Of The 1930 S2417 Words   |  10 Pagescrisis, next to the great depressi on of the 1930’s. The meltdown revealed the instability of the US banking system and led to the bankruptcy of investment firm Leimen brothers, and collapse of worlds largest insurance company AIG, which triggered a global financial crisis. International share prices tumbled, causing 30 million people to become unemployed and doubling the US debt. It was the start of a global recession and it was not an accident. â… ¡ - History After the great depression the US went 40Read More Canada and The Great Depression of the 1930s1378 Words   |  6 Pages1929-1939- The Great Depression The depression years of 1929 - 1939 proved to be the worst, and some of the best years for Canada and Canadians. It was a time of extreme highs and lows socially, emotionally, and economically. It was a time that Canada came into her own being on the world wide stage. During the worst depression years in Canada, there were many people who tried tirelessly to get Canada out of the crisis she was in more quickly and efficiently. William Aberhart and his group ofRead MoreThe Great Depression And Harsh Weather Conditions During The 1930 S1453 Words   |  6 Pages The United States experienced both the Great Depression and harsh weather conditions during the 1930’s causing Americans to suffer through extreme hardship and impoverishment. Many of the migrant farmers were bankrupt, destitute, and struggled to survive. Photographer and photojournalist, Dorothea Lange, captured the dangerous conditions migrant workers and their families endured through her photograph, Migrant Mother. The photograph not only displays a woman and children suffering, but also revealsRead MoreThe Effects Of Global Economic Crisis On The Great Depression Of The 1930 S876 Words   |  4 PagesWhile the causes of the global economic crisis are still widely debated, a vast majority of economists agree that it was the worst global recession since the Great Depression of the 1930’s. Large factors that contributed to it are greed, risk assessments, fraud, the Federal Reserve in the United States lowering interest rates, rating agencies, credit default swaps, international currencies being depreciated to the United states dollar, and sub-prime mortgages. Banks in the United States were borrowingRead MoreHistory Of The Financial Crisis During The Great Depression Of The 1930 S1823 Words   |  8 Pagesaccounts on what the financial crisis was and how it started with different people giving different opinions on what caused the crisis. According to the IMF (international Monterey Fund), it is said to be the worst financial crisis since the Great depression of the 1930’s. The first claims that the chief root was government involvement in the housing market, this contribution is said to have overvalued a housing bubble and resulted in the crisis. Another attributes the financial crisis to greedy wall streetRead MoreThe events of the 1930’s, or the Great Depression, did the most to influence contemporary America.900 Words   |  4 Pagesof the 1930’s, or the Great Depression, did the most to influence contemporary America. During the twenties, America was at its most prosperous economic times until the stock market crashed in 1929. The stock market crash led to a dramatic decline of the U.S. economy. The decline in the economy changed Americans everyday lives. In 1932, Franklin D. Roosevelt was elected president and he created the New Deal to provide relief, recovery and reform. The Depression impacted America in the 1930’s in every

Rent-A-Car - Australia Free Case Study Sample by Expert

10.0 Marketing Budget: Question: Explain the marketing plan for Enterprise Rent-A-Car Australia? Answer: 1.0 Introduction: Rent-A-Car is a UKs car rental company. This company offers car on rent for business and private purposes. The company wants to create a marketing plan for its new business set up in Brisbane, Queensland. The marketing budget of the company is $500,000 Australian. The marketing plan will be made after making the current situation analysis, swot analysis, segmentation, target market analysis followed by suggesting marketing strategies, action plan, marketing budget, controls and contingencies. 1.1 Aim: The aim of the study is to brief rational for the marketing plan. That is Rent-A-Car wanted to start its business establishment in Brisbane, Queensland. Therefore the company wanted to formulate a business plan through which it can successfully enter Australian market and get the desired business returns. 1.2 Scope: The Scope of the study is to research through various concepts like Swot Analysis, Current situation analysis and various other methods to formulate a most appropriate marketing plan for the company. This way the company wants to initiate its business operation in Brisbane, Queensland by taking care of the various internal and external factors that may affect the business operation. 1.3 Company Background: Rent-A-Car is a well-known U.K Multinational company that offers services in travelling through rented cars for personal and business use. Jack Taylor founded the company in year 1957. The company at present is operating in 370 locations throughout the United Kingdom. It is offering service to nearly 90% of the residents with availability within 10 miles. The company has its operations in seven countries in a decentralized management method. Therefore efforts are made managers at different locations as per the customer requirements and comfort with a view to achieve customer satisfaction and high returns from the business. The company has 8,200 rental offices in nearly seven countries around the world. This includes U.S.A, Canada, Ireland, Germany, France and Spain. 2.0 Current Situation Analysis: Current situation analysis is actually the critical review of the whole business system both internal and external. This is made while the formulation of the marketing plan so that the main factors and features that may affect the business function in the later stage. The current situation analysis of Brisbane, Queensland in Australia has been done as below. 2.1 Internal Analysis: The internal analysis of the company includes the analysis of the business operation and environment that the company has control over. This includes the mission statement, resource allocation and establishment of business relationships. Mission statement: The mission statement of Rent-A-Car is to provide its customers with the best service in travelling. The motto of the company is Take care of our customers and employees and profits will take care of themselves. This way the company wants to achieve customer satisfaction through its business operations. For this purpose the company has been following a decentralized method of management through which the managers in different areas makes decision as per the customer requirements and demands with a motive to give more comfort and attain satisfaction for the customer. Resources: The company has deployed its car on rents on various locations at place where it has it business operations. At present the company has its offices in 8,200 locations in seven countries. The main motive is to provide quick and comfortable transport facility to the customers through rented cars. Also the company has trained its employees including the floor operators and managers in the offices such that they are required to meet the customer requirements and satisfaction. This way a decentralized method of management is followed so that the quick decision and response can be achieved with a view to provide customers with immediate support and care during the travelling experience(McKinney, Yoon, Zahedi, 2002). Offering: The company has to offer the comfortable travelling experience to its customers who rent a car for personal or business purposes. The company motto is to achieve satisfaction for customers in a priority. These way efforts are made to make the travelling experience more comfortable and memorable to bring back the customer for next service. Business relationships: The company has developed business relationships with the chauffers at various locations who work whole heartedly towards achievement of company goals. This way a formal pay and benefit plan along with the code of rules and regulations are required to be followed to achieve customer satisfaction and comfort during travel(Patrick, Burkhart, Suzanne, 1993). 2.2 External Analysis: The external analysis includes all those factors that affect the business operations and existence but are not under direct control of the management. This way these factors influence the business in many ways. The external factors includes the followings. Technological trends: The technological trend has been changing in Brisbane, Queensland. In the present day, the customer has unlimited desires for getting services. Due to this reason, various other car renting companies has been offering various technological upgrades to their rented cars. Radio taxis consisting of Radio FM channels to entertain the customer during travel has been used as technological advancement in the rented car travelling experience. Moreover use of mobile applications for booking a car on rent has been offered by various companies so that the customers can be facilitated at a touch of a button. The presence of perfumed environment, mobile phone facility and various other features has been added to attract and impress the present day customers(Priem Butler, 2001). Economic trends: At present the world is facing economic slowdown and so is whole Australia. Since the inception of 2008, the global slowdown has affected various businesses. However the travelling to offices and various other reasons has not changed. But the trend of using taxis has been falling. This is due to the reason that the people are trying to save money by using the more economic and cost effective transport medium such as bus, tram, trains etc. This way the recent economic slowdown has adversely affected the business of renting a car. Political/Legal factors: The political and legal factors are all complied as per the Australian laws by Rent-A-Car Company. This is because the company follows highest standards that do not only comply to Australia, but also the European standards which are among the top reliable resources to ensure application of fair and legal business around the world. The political parties in Brisbane, Queensland also offer fair enough options to develop business and offer its public with the world class facilities(Samli, 1995). Socio-cultural factors: The socio-cultural factors include the customer tastes, willingness, recent trends etc. The socio-cultural environment in Brisbane, Queensland is favourable for the establishment and development of renting car business. This is because of the reason that the people in these areas have to travel long distances for moving to offices. Moreover it is a regular feature of using rented car for travel for personal reasons in this area. Therefore the socio-cultural factors in this area are quite favourable. Natural environment: The natural environment in the Brisbane, Queensland is favourable for the business. The downpour, sun heat and various other factors has resulted in customer trend moving towards use of rented cars to safeguard their skin from the damage from such natural activities. This way the natural environment also supports the rented car business in the region. 2.3 Market Analysis: Market analysis is actually a method of determining the attractiveness of the business conditions in the present and estimated future. This way the market trend, competitive situation, customer needs and various other aspects that affects the business are all analysed. The market analysis for Brisbane, Queensland is done with a motive to figure out the market attractiveness in terms of business establishment. Market trends: The market trends in Brisbane, Queensland include use of spacious and attractive colours cars on rent. The customers therefore prefer to rent a more spacious car so that they have a more comfortable journey. Moreover they would like to carry their belongings in more spacious cars. Female customers prefer to select the attractive colour cars for rent. However the present of the various other well established car renting services can prove to be a serious threat to the business which already follows the market trend and make changes as per the requirements(Young, Dermody, Taylor, 2004). Competitive situation analysis: The competitive situation analysis helps in comparing the marketing policies of different companies that offer similar services. Moreover the recent trend of offering heavy discounts and aggressive advertisements are among the key competitors trends that are affecting the renting car business in the area. The rising cost of advertisement has further been seriously affecting the profitability of the business. The data related to the increasing rates for advertisements can be displayed as below. Figure 1: After going through the above advertising rates we can easily observe the rising price of advertisement in Radio FM, Google, Direct mails and even web designs. This way a high level of competition where the perfect competition like condition exist in the country with number of car renting facility providers making investment in advertisements. However Rent-A-Car has a competitive advantage of being an experienced firm with a European standard that is followed in its regular business operations. This way the company has a lot to offer in terms of quality and life time experience to its customers. Also the new fleet of cars offered on rent will attract customers to avail the service(Walumbwa, Orwa, Wang, Lawler, 2005). Customer needs: There are different customer needs related to travel in the area. People are used to travel on regular basis for business and personal reasons. Therefore offering them with a personalized rented car option can help them gain extra benefits. This way they wont have to wait in cues, move in crowd and travel as per the schedule of bus or train. The customers needs of travelling in a comfortable way as per their personal availability can be offered by Rent-A-Car. However the customers ability to spend has been seriously affected due to the economic slowdown therefore they are cutting their needs as per their financial status and therefore, may not avail the benefit the rented car has to offer to them(Liu Khalifa, 2003). 3.0 Swot Analysis: SWOT analysis initials states S for Strength, W for Weakness, O for Opportunities and T for Threats. The Swot analysis of Rent-A-Car for internal factors and Brisbane, Queensland for external factors can help in making a market plan that actually fits the requirements and help in achieving success after the business establishment. S- Strength 1. Rent-A-Car has decades of experience in handling the travelling customers. 2. The company has a motto of serving customers on priority. 3. The company has its presence in 10 miles area of the customers. 4. Business operations are done on the basis of International standards. 5. The company has its presence in various countries that brings in more knowledge and market trend at various places. W-Weakness 1. The company uses the decentralized method of management therefore the control becomes lesser in such management conditions. 2. The company has a limited budget of $500.000 for establishing its business in Brisbane, Queensland. 3. The company faces lack of experience and information about the Australian markets. O-Opportunities 1. The business set up in Brisbane, Queensland will result in adding more states later on. 2. The company will be able to earn more income from its business operations. 3. The brand name of the company will expand in the new region. 4. The company can learn new experience from the new client base which can be used in the further expansion process. T-Threats 1. The company wants to establish its business in Brisbane, Queensland where already well established companies are offering their services. 2. The cost of advertising is already rising in the country which can result in increasing the cost of running business in the area. 3. Local businesses may add to the problems of the company establishment and business operations. 4. The customers may take time in accepting new car service and avail its benefits. 5. The competitors may start a heavy discount offer or advertising campaign that may affect the company business. This way there exist a number of issues that the business may get affected which are stated above through the application of the SWOT analysis(Kotler Gary, 2006). 4.0 Segmentation: Segmentation is method of describing, defining and distributing the data regarding the target population on various basis such as age, geographical presence, marital status, gender, psychological difference etc. There are actually five requirements that are required to be followed for effective segmentation. These include the followings. Measurable and obtainable: The first and foremost requirement for effective segmentation is measurable and obtainable. That is the target population should be measureable in terms of quantity such as number of male, applicants etc. Thus the target population related information should be obtainable on the basis of the research to make it an effective segmentation for the further research process. Relevant: The effective segmentation requires relevance on which the distribution of the information can be done. The relevance is actually as per se the research model. That is if the research is regarding the cosmetics of ladies than the segmentation relevancy will be through research on females of various age. Valid: The effective segmentation requires it to be valid so that it can be checked and rechecked later on. Thus the validity feature in segmentation makes it more credible and dependable for the future research process. Unique: The effective segmentation requires the identification of its uniqueness. That is the basis of the segmentation should be easily defining the difference. The unique difference can be between male and female, young and old and on various other basis. These basis are unique as they are easy to define and identify on the basis of the various segmentation features. Feasible: The effective segmentation should be feasible. That is it should not surpass the research budget and hence meets all the requirements related to data input while remaining expenditures under control. The market segmentation in our case study of Rent-A-Car is required for the population of Brisbane, Queensland. This way the market segmentation is required to be done on the following basis. Number of males/females using rented cars regularly. Male/female using rented cars for business/private purpose. Frequency of applying rented cars. Number of students in male/female using rented cars. Etc. (Kaiser, Hogan, Craig, 2008) 5.0 Target market: Target market refers to the concentration on a definite market section or area which is under research. Market segmentation actually refers to the division of one market into different sections on various basis. Target markets takes into consideration either of the market segment that has already be segmented by market segmentation process. Thus target market is the part of the whole market segmentation process in which the target customers are concentrated after making its distinction from other customers. This can be depicted as below. The target market that we need to concentrate includes the number of male/females using rented cars for business or private purpose. This way we can go through the identification of potential customers, along with their needs, wants, behaviour, attitude, loyalty and purchasing pattern(Jayachandran, 2004). This can be discussed as follows. 1. The identification of the potential customers can be made by identifying the needs of the people. That is the business person, employees who have to reach their offices and uses private or public source for transport can be identified as target customers for Rent-A-Car.2. The wants of people who use private cars for personal reasons of travelling can be identified as the target customers who wants facilitates accordingly.3. The behaviour of people in using the travelling facility can help in recognizing the potential customers for Rent-A-Car.4. The attitude of those people who use private travelling means for saving time and more comfort can be identified as the target customers for Rent-A-Car.5. The customers already using the rent car services can also become the target of the Rent-A-Car company. Therefore the company can advertise or issue special discounts and offers for daily travellers to break the customer loyalty from those companies and grasp their loyalty towards them.6. After careful go through of the purchasing patterns the target can be made on those customers who regularly use the travelling service of rented cars. (Hamiliton Cynthia, 2005) 6.0 Positioning: The positioning stands for thinking and deciding on the strategy so that the maximum number of potential customers can be attracted and the company gets huge business possibilities. Therefore it is methods of communicating the most essential and varied features of the products and services that are offered to the potential customers. The positioning strategy used for Rent-A-Car Company is selected from the following available strategies. Advertising: The advertising through radio, television and hoardings is the first priority for positioning strategy. These advertising campaigns can help in making the brand name of Rent-A-Car popular among the masses. The advertisement of the company brand name in the famous game or popular shows can help in reaching out to the potential customers. The list of rates of prices of advertisements through various mediums has been displayed in above stated figure 1. Promotions: Various promotion strategies such as heavy discounts for regular travellers, gift coupons and schemes to promote business can be used by Rent-A-Car service so that the brand name and brand image can be created in the minds of the customers. Public relations: The healthy public relations through quick response and proactive results in bringing desired outcome to the company and comfortable service experience to the customer. This way a good brand image can be created by using the above stated three methods of positioning which could help in the long run to attract customers and achieve customer loyalty(Goldstein, 2007). 7.0 Objectives: The marketing objective for the short term that is in next twelve months is expected to be achieved as follows. To create a brand image in the minds of the customers. To attract potential customers using the various schemes and promotional ideas. To achieve sales growth on month on month basis. To achieve customer satisfaction and cordial relations. To offer value for money for the customers. To bring in faith and loyalty towards company. To foster needs of various customers in Brisbane, Queensland region. To understand the needs of the customer and meet their demands accordingly. These way efforts are made to achieve the SMART objectives whose initials stands for Specific, Measurable, Attainable, Relevant and Time bound. Thus the various goals that can be achieved are as follows. Sales: To achieve targets goals of sales. To increase and improve sales month on month basis. Market share: To achieve high market share. To attract potential customers. Brand awareness: To make the brand name well known to the customers. To offer value for money for the services offered by the company. To maintain a definite quality standards. Customer segments: To attract customers from markets who use travelling service for both personal and business reasons. To increase the customer base by adding schemes for various other types of customer segments. Loyalty: To achieve customer loyalty so that the rising competitive can be dealt with. To increase schemes and promotional programs for customers so that the customers can be made satisfied with the company services. (Gill, 2002) 8.0 Marketing strategies: The various objectives for marketing strategies are used to overcome the key issues that are identified in SWOT analysis. 1. To increase strength of the company by following a certain level of standards those are actually followed in the European countries.2. To deal with the weakness of dealing with the employees working on decentralized method by attaining centralization up to some levels.3. To take the benefit of the available opportunities by increasing ability to foster the needs of the customers of different segments rather than just concentrating on one target market.4. To overtake threats due to competition by making efforts to achieve customer loyalty through schemes and value addition programs. (Ghemawat, 2003) 8.1 Product: The product range that Rent-A-Car has to offer is the car renting service to the people in the Brisbane, Queensland area. This includes giving quality service that attains high comfort for the customers. The product of car renting service will come with the following method. The customer will be able to book online. Quick and efficient response to the customer query for availability will be given. The cars will be well-furnished, clean and perfumed. Easy to recall numbers will be made available for customer booking for the product related service. This way the augmented feature to the company product that is rented car will be its easy availability with varied features like cleanliness and well furnished interior. 8.2 Price: The price will be charged on renting service on per miles basis. That will be around $20 per miles. However the minimum amount of $50 will be charged from the customer for providing renting service irrespective of the miles covered. However an extra discount of 10% will be given to the regular travellers who will issued with the identity cards for availing special discounts. This will help in enhancing customer loyalty. Also the price per mile will be declined by 10% so that the customer gets the most cost effective rates of travelling. This pricing theory is called Skimming pricing. Thus the regular customer who has to travel long distances will not have to pay for delivery fees and extra charges that waves away with discounts and schemes(Gadot, 2007). 8.3 Promotion: The promotion of the rented cars will be done using television, radio FM and print media like newspaper and magazines. The timing for reaching the customer will be only weekly basis by making promotional activity on every Sunday as this is one day when most of the people like to stay at home. The objective of this promotional method is to reach out to the maximum target audiences. The person who carries out this promotional service will be the models that will participate in the advertising campaigns(Corta, 1993). 8.4 Place: The place of initiating the business process is Brisbane, Queensland. The service will be carried out for both business and personal use travel by the customers. The steps followed will be as follows. Customer makes contact. Customer contact details are saved. Driver is contacted. Customer gets the service. 9.0 Action Plan: The action plan is to offer the customers with the high quality service by following the below stated steps. Step 1: Advertising the product and make initiation in creating brand name. Step 2: Offering huge schemes and discounts to attract the potential customers. Step 3: Making loyalty cards for regular customers. Step 4: Offering quality service at competitive price. Step 5: Achieving high sales through increase in customer base on monthly basis. (Bartram Casimir, 2007) 10.0 Marketing Budget: The breakdown of all marketing costs involved can be stated as below. Expenditure items Amount spent in dollars Australian. Advertising on Magazines 3575 (on quarter page) Advertising on Radio 250 (on 100 ads.) Advertising on web design cost on interactive website 10,000 2000 direct mails (printing, paper, postage) 1400 Billboard rates 20,750 U on Sunday 11,704 (full page) Reserved amount for other advertisings 2321 11.0 Controls and Contingencies: The boundaries and benchmark will be to foster need of at least 500 customers on monthly basis which is expected to increase at 20% every month. The success of marketing activities can be monitored by the increasing number of customer calls for queries and booking for car renting. If the calls does not increase overtime than it is easily depictable that the marketing activity has not worked well. Thus the marketing activity will be quickly removed and new plans will be developed. 12.0 Conclusion: In the end, the marketing plan that has been created for Rent-A-Car follows current situational analysis and Swot analysis. The STP plan helps in in-depth analysis of the market situation in Brisbane, Queensland, Australia. The marketing strategies therefore developed along with the marketing budget helps in identifying controls and contingencies. Thus the Rent-A-Car company needs to follow the marketing plan that has been suggested above to achieve high gains for the company in the new market. 13.0 Bibliography Abiodun, E. (2009). Human Resource Management, an overview. Lagos: Concept Publication. Abiodun, E. (2009). Human Resources management, an overview. 110-121: Concept Publication. Armstrong, M. (2006). A handbook of Human Resource Management Practice (10th edition). London: Kogan Page. Bartram, T., Casimir, G. (2007). The relationship between leadership and follower in role performance and satisfaction with the leader: the mediating effects of empowerment and trust in the leader. Leadership and Organization Development Journal , 4-19. Caligiuri, P., Ibraiz, T., Jacobs, R. (2009). Selection for international assignments. Human Resource Management Review. , 19, 251-262. Cartwright, S., Holmes, N. 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Human issues affecting construction in developing countries. Construction Management Economics , 219. Jayachandran, S. (2004). Marketing Management. Excel Books India. Johnstone, Stewart, Steward, Keith, Wilkinson, Adrian. (July 2012 Vol 30 Issue 7). Changing patterns of human resource management in construction. Construction Management Economics , 507-512. Kaiser, R., Hogan, R., Craig, S. (2008). Leadership and the fate of organizations. American Psychologist, 96-110 , 96-110. Kotler, P., Gary, A. (2006). Principles of Marketing. New Jersey: Pearson Education Inc. Liu, V., Khalifa, M. (2003). The determinants of satisfaction at different adoption stages of internet based services. J.Associative Information System , 206-232. Malhotra, N. K. (2002). Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall,. MAYO, A. (2012). Human Resources or Human Capital? Managing People as Assets. England: Gover. McKinney, V., Yoon, K., Zahedi, F. (2002). The measurement of web-customer satisfaction: An expectation and disconfirmation approach. Information System Resources , 296-315. Merry. (2003). Human Rights Laws and the demonization of culture. Politics and Legal Anthropology review , 26 (1), 55. Oribabor, P. (2009). Human Resource Management, A strategic approval. Human Resource Management , 21-24. Oribabor, P. (2009). Human Resource Management: A Strategic Approval. Human Resource Management , 9(4): 21-24. Patrick, J., Burkhart, Suzanne, R. (1993). Successful Strategic Planning: A Guide for Nonprofit Agencies and Organizations. Newbury Park: Sage Publications. Priem, R. L., Butler, J. E. (2001). Is the Resource-based "View" a Useful Prespective for strategic managment research? Academy of Management Review. , 26 (1) 22-40. Rowold, J. (2008). Multiple effect of Human Resource Development interventions. Journal of European Industrial Training , 32-44. Rynes, S., Gerhart, B., Minette, K. (2014). The importance of pay in employee motivation: discrepancies between what people say and what they do. Human Resource Management , 43 (4), 381 -394. Samli, C. A. (1995). International consumer behavior: its impact on marketing strategy development. Quorum Books. Tasa, K., Whyte, G. (2005). Collective efficacy and vigilant problem solving in group decision making: A non-linear model. Organizational behaviour and human decision processes. The importance of goals. (2014, 04 17). Retrieved from www.smallbusiness.chron.com: https://smallbusiness.chron.com/goal-setting-important-organizations-2509.html Ulrich, D. (1996). Human Resource Champions. The next agenda for adding value and delivering results. Boston: Harvard Business School Press. Walumbwa, F., Orwa, B., Wang, P., Lawler, J. (2005). Transformational leadership organizational commitment, and job satisfaction: A comparative study of Kenyan and U.S. financial firms. Human Resource Development Quarterly , 235-256. Young, M., Dermody, M., Taylor, S. (2004). Identifying job motivation factors of restaurant servers: insight for the development of effective recruitment and retention strategies. International Journal of Hospitality and Tourism Administration , 5(3), 1 - 14. 14.0 Appendices: Figure 1:

Ethical Shopping Myth or Reality Samples for Students †MyAssignmenthe

Question: Discuss about the Ethical Shopping Myth or Reality. Answer: Introduction A myth of the good shopper does morals make a difference but trendy buy conduct showed an active general periodical of customer promotion. Now the research, we inspected the particular circumstance besides nature of primary moral consumerism also concentrated youthful buyers to evoke their mentalities besides conduct towards ethical utilisation, corporate communal duty, besides corporate flightiness. Honourable utilisation, conservationism, party-political consumerism also social showcasing taken little speech traditional standard advertising writing as of now. Inquire about through researchers scrutinised the scope of lime consumerism famous the Australia, endeavouring to recognise then comprehend the requirements of moral purchasers besides contemplating the frail connection among what buyers supposed besides whatever they prepared in regards to capable utilisation[1]. A couple of scholastics expounded proceeding promoting morals also even fewer concentrated moral purchaser conduct . Modern the Australia, intended, for instance, the approach besides professional scene stayed additionally altogether different not at all restriction happening smoking openly puts, not at all charges intended aimed at plastic sacks before obligatory family unit reusing. Corporate reactions concentrated happening issues, designed, for example, sweatshop constructing the morals of promotion tobacco, infant recipe, besides sugary sustenance, before glamorising anorexia self-perceptions. Fashionable some conducts, ethical consumerism famous the Australia besides somewhere else trendy 2018 looks altogether different, however popular others, we confront a similar perplexing besides mischievous issues, besides apparently unfavourable difficulties to motivate shoppers besides advertisers towards act ethically. Reactions subsequently to the subjects brought awake trendy the article attractive regards to good utilisation besides showcasing morals, together inside scholarly community besides practice, might display awake woefully deficient[2]. Throughout the years researchers consume tried to recognize also characterize the moral procurer, scrutinized the real nature besides attendance of the idea, theorized scheduled the purposes behind hand the seemingly obstinate moral countryside conduct crevice, thought about the part of ethical utilization confidential standard promoting then, through technique of the nature also issues encompassing moral use consume widened then developed, progressively scrutinized the organization of the honest customer sensitive a neo-liberal economy that consumes expanded usage on her cancer. Literature review The examination of publicising morals created traditional light of what some would period the vanity of promoters who assumed that their exercises remained unquestionably toward the finest preferred standpoint of the buyer. Ideally, now the conversation system sponsors complete a sensible advantage, clients became the thing they needed also everybody remained happy. That simple idea takes stood tried the 1961s subsequently, by at first pardon held unique cumbersome voices, for instance, Vance Packard besides Ralph Nader disapproving the control inconsistency that was among promoters also buyers[3]. Sheth in 1989 raise that till the 1961s sponsors whichever demonstrated absence of engagement hip issues connected toward their communal promises otherwise purposefully neglected them. Nevertheless, the excellent shape of purchaser activists modern the midst of that decade helped to enable an additional dominant position through a couple of customers besides the inadequacies of promoting e vents. Today here stands another prearranged strike from healthy organised campaigners supplicants such as test get-togethers, for instance, lime concord, networks of the Ground before the Australia customers implication. Kotler in year 1973 remained a prominent director of the social showcasing development, who apparent this anything buyers' craving cannot actually be beneficially used for them tobacco, besides in spite of the fact that advertisers may make a cheerful client for the time being, over the long haul both purchaser and society may endure as an immediate consequence of the sponsor's activities now fulfilling the customer[4]. Traditionally advanced existences a scope of researchers takes inspected different parts of social duty besides societal advertising. Robin likewise Reidenbach, 1988 Hunt additionally Chonko, 1985 Laczniak additionally Murphy, 1994 Murphy 1999 Garrett, 1988 Smith 1996 Hunt also Vitale, 1995. Naturally, numerous advertisers reflect community obligati on plus societal showcasing to remain a critical subject inside the promoting arena, yet by what means prepares the actual purchaser to see these materials[5]. Somewhat than staying vanquished using the continued by nonappearance of answers towards the numerous request which last being model through the tests of community obligation, here remain various sponsors who hope toward setting up tasteful real rules then sharpen besides scramble that confidential the business Vitale, 1993Smith, 1996 also Laczniak, 1994 Hunt. Sanctioning takes an impact in raising buyer goals of publicising behaviour, besides control has furthermore moved us from the stipulation emptor location of the 1961s toward an additional socially trustworthy time familiar advancing Smith, 1996. Here remain cyphers that morals stand not ever over pondering happening the limits of publicizing action. Here stand cyphers that morals remain nope longer languishing happening the fringes of marketing activity. Methodology Industrialist consumerism stands based happening the proliferation of yearning this the arrangement of generation be able always completely to fulfil Graaf 2015 Hamilton also Dennis, 2006. Furthermore, significant the financial circle, a worry used for others stays not ever characteristic up till currently transgressively to the framework. Subsequently, below states of contemporary allowed enterprise, a fleabag between one's moral directions and goals working in the social and social circle represented by undistorted correspondence in the optimistic Habermasian sense outside the financial framework, and the differentiating flippancy of the commercial canter administered through advertising esteems then messages then money connected trade confidential the monetary framework, ought to stand distinct by method of healthy by way of not available of the ordinary. As per advertisers, indeed, we must approach ethical utilisation claims through alert attractive bright of the detail that such a topic position presents a gross inconsistency[6]. By way of opposite to confusing showcasing besides purchaser specialists, lengthways these lines, this fleabag must promise them that belongings remain lately the way they must to remain. Toward respect, the fleabag by way of a pathology of kinds requires buyer analysts toward setting together a shared characteristic of moral behaviours crosswise ended primary leadership settings then a limit of consumers toward containing their craving. Neither of these conditions stays natural near private enterprise then liable to emerge on some rate not happening a mass scale. Popular this manner, the ethical utilization crevice stands best comprehended as per a traditional of an idealistic showcasing belief system besides through nope establishment previous a positivistic hallucination of rudimentary reality[7]. The mental idea of affirmation predisposition gives hypothetical besides exact support to the possibility that the showcasing belief system would be relied upon to hold influence here. We draw on a psychoanalytical refinement between the genuine and reality to answer this question. Truth can't exist without the dream. This position ought to not toward remain confused for postmodern naivety that rejects the likelihood of a target reality confidential besides out. The traditional Lacanian hypothesis here remains a safe, thus far the subject not once approaches belongings the method they stay in the regular day near day existence. Popular this beginning, we performance confidential the casing of a constituted reality before putting modern an unexpected method, we remain always implanted in the belief system and anything we noise the certainty remains best comprehended by way of a dream that draws upon ideological intervention, bias, then oblivious yearning. Trendy the occasion that we admit this depiction of reality equally a type of imagination, the question whether the ethical utilization crevice remains genuine, before not, stands rendered insignificant. Conversely, what is left significant stands the mode the ideological figure of the crack remains contributed by the moral advertiser's oblivious yearning also how the merchant builds that number towards determining an inconsistency. The disagreement toward remain settled here remains that of a private enterprise predicated happening damaging consumerism that requires good consumerism to refute his individual particular danger. We know how to observe nowadays why the good reaction towards a promoting researcher underwriting the right customer stands not then rather such a shopper prepares not exist trendy light of the datum that inside the typical universe of this researcher, besides concerned ethical advertisers, the moral purchaser occurs. Before maybe, a correct reaction towards an endorser of the ethical consumer remains to recommend that thoughts of good utilisation partake nothing towards prepare thru an ethical consumer, too the ideo logical figure of the right client is essentially an endeavour toward joining awake the irregularities of the common philosophical framework. Discussion and analysis The prospect of real customers takes created finished the span of the previous twenty-five otherwise extra centuries after a prohibitive focus scheduled general issues near a thought that trips matters of still, little voice extra thoroughly, just to return to hers green ancestries thru the present stresses finished overall natural modification. Traditional the middle of this regular period we take realised a creating primary contention near the essentialness of decent consumerism besides, particularly, the impression that large-scale strategies partake arranged purchaser care than spending[8]. Star-brilliant exercises, intended for case, broaden bloodshot a movement encouraged trendy 2007, started and Australia legislator, in which huge brands, for instance, Gap and sub stamp some of their clothes in the red name also stretch the profits to the protects of a quick trap arranged marvellous associations' communal duties in gathering, retailing, and publicizing then show toward satisfy ing an enormous open longing used for useful belongings. Such unmistakable activities covered the reasonability and obliged bring up of things per good before social estimations, leaving many association ones a player attractive the perplexing client essential authority handle and a deficient opinion get ready. Just like this would we take the capacity near make efficient besides critical approaches that attract the conceivably social purchaser? This takes different implications, which we resolve discuss, besides give supporting affirmation to, altogether through the book[9]. Towards instigate by, the idea we stand maintaining of fixes not have a genuine decent before right portion. Through this, we infer that reasons around the method that individuals speak toward non-viable shares of things familiar their assessment of the regard then satisfaction they become from usage, hitherto this the great before right portions of this stand fair-minded. Toward the time's end, the countless o therwise decent regard shares of the article remain controlled through individuals then their general population besides not through some greater master[10]. Aimed at an instance, notwithstanding the method this we might eventually assume that monkey work before animal testing stands frightful, we don't advance some expression around this famous the depiction of morals. Our stress remains whether the individual brands such a position then whether this woman carries scheduled according toward that position once there stays a cost intended for doing all belongings considered. Recommendation section Any wander similar this one takes massive attempts finished an increased period span. This wander started trendy by what canister is stand gotten by way of a self-assertive event we held incorporated hooked on an outside wander beside a vital question Rose asked not taking the correct reaction on the time then existence astonished that here stood nothing pushing to an answer we initiated what ended awake transforming hooked on a semi careful examination of this question. None of us knew by the time that, following ten years, we would by present stand working out the fitting reaction. Nope, one hip the gathering would depict him or else herself as per being required voguish research scheduled business ethics otherwise accessible an academic region hip which single would expect that question resolve stand of interest. Moral clients stands set up by means of a business examiner through a touch of mind science. Pat Auger stays set up trendy organization. Honourable buyers hold a client l ead was exhibiting analyst. The stylish first case, what we apply as per an emotional impact intended for this topic close through our various accomplices holds a perspective that stays untainted via an institutionalising slant. The situation is our stress just before prepare whatever him takes, not just before change her. This book stands not a supporter's affirmation, besides fashionable expecting toward pass scheduled clarity towards an irritable point. We don't retain the importance since securing a weighty portion of the subjects that we stand investigating, nor prepare that patrons intended for these topics take a support now propelling them by way of a trademark strategy of social, standard, and then first political contention then change. Regardless, we remain working below the conviction that toward grasp the soreness's around personal social usage direct beside to attempt towards prepare like this by methods for the usage of different methodologies favourite dissimilar ter ritories is primary to light up that reasonable exchange. The situation remains our part to be self-sufficient onlookers and go between. References Carrigan, Marylyn, and Ahmad Attalla. 2001. "Do Ethics Matter In Purchase Behaviour?".The Myth Of The Ethical Consumer18 (7). https://www.researchgate.net/publication/243461925_The_myth_of_the_ethical_consumer_-_Do_ethics_matter_in_purchase_behaviour. Carrington, Michal Jemma, Detlev Zwick, and Benjamin Neville. 2016. "The Ideology Of The Ethical Consumption Gap".Marketing Theory16 (1). https://www.gla.ac.uk/media/media_451526_en.pdf. Carrington, Michal, Ben Neville, and Gregory Whitwell. 2009. "Ethical Intentions, Unethical Shopping Baskets".Understanding The Intentions-Behaviour Gap Of Ethically-Minded Consumers. https://www.duplication.net.au/ANZMAC09/papers/ANZMAC2009-082.pdf. Devinney, Timothy. 2017. "Myth Of The Ethical Consumer". https://www.academia.edu/1678320/Myth_of_the_Ethical_Consumer_Overview_Presentation_. Devinney, Timothy m., Pat Auger, and Giana m. Eckhardt. 2010. "The Myth Of The Ethical Consumer". https://plataforma.responsable.net/sites/default/files/myth_ethical_consumer.pdf. "Ethical Consumption As An Identity Project". 2009.A Narrative Approach To Finnish Ethical Consumers Identity Construction. https://epub.lib.aalto.fi/en/ethesis/pdf/12188/hse_ethesis_12188.pdf. Sharma, Arun, Walfried Lassar, and Banwari Mittal. 1995. "Measuring Customer-Based Brand Equity".Journal Of Consumer Marketing12 (4). https://www.emeraldinsight.com/doi/pdfplus/10.1108/07363769510095270. "The Appeal And Reality Of Ethical Consumerism". 2017. https://assets.cambridge.org/97805217/66944/excerpt/9780521766944_excerpt.pdf. "The Myth Of The Ethical Consumer - Do Ethics Matter In Purchase Behaviour?". 2012.Journal Of Consumer Marketing. https://econ.au.dk/fileadmin/Economics_Business/Currently/Events/PhDFinance/Kauttu_The_myth_of_the_ethical_consumer_-_do_ethics_matter_in_purchase_behaviour.pdf. Tsalikis, John, and David J. Fritzsche. 1989. "A Literature Review With A Focus On Marketing Ethics".Business Ethics8 (9). https://link.springer.com/article/10.1007/BF00384207.

Ralph Waldo Emerson Essays (1096 words) - Transcendentalism

Ralph Waldo Emerson Ralph Waldo Emerson certainly took his place in the history of American Literature . He lived in a time when romanticism was becoming a way of thinking and beginning to bloom in America, the time period known as The Romantic Age. Romantic thinking stressed on human imagination and emotion rather than on basic facts and reason. Ralph Waldo Emerson not only provided plenty of that, but he also nourished it and inspired many other writers of that time. "His influence can be found in the works of Henry David Thoreau, Herman Melville, Walt Whitman, Emily Dickinson, Henry James, and Robert Frost.". No doubt, Ralph Waldo Emerson was an astute and intellectual man who influenced American Literature and has rightly received the credit that he deserves from historians. He has been depicted as a leading figure in American thought and literature, or at least ranks up there with the very best. But there is so much more to Ralph Waldo Emerson when we consider the personal hardships that he had to endure during the course of his life and when we see the type of man that he becomes. He certainly was a man of inspiration who knew how to express himself by writing the best of poems and philosophical ideas with inspiration. To get an idea of how Ralph Waldo Emerson might have become such an inspiration to the people, some background on his life is essential. Can you imagine living a life with all your loved ones passing away one by one? A persons life could collapse into severe depression, lose hope, and lose meaning. He can build a morbid outlook on life. Ralph Waldo Emerson suffered these things. He was born on May 25, 1803 and entered into a new world, a new nation just beginning. Just about eight years later, his father would no longer be with him, as William Emerson died in 1811. The Emerson family was left to a life marked by poverty. Ralph's mother, Ruth, was left as a widow having to take care of five sons. However, Ralph's life seemed to carry on smoothly. He would end up attending Harvard College and persue a job of teaching full time. While teaching as a junior pastor of Boston's Second Church, his life gained more meaning when he married Ellen Louisa Tucker. Journal entries and love letters he wrote at that time expressed lots of feelings and emotions that he had. But after two short years of marriage, Ellen died of tuberculosis. Suddenly, the one true person he had in his life was gone. Life was losing it's meaning, and Ralph Waldo Emerson was in need of some answers. This dark period drove him to question his beliefs. Emerson resigned from the Second Church and his profession as a pastor in search for vital truth and hope. But his father and wife were not the only deaths that he had to deal with. His strength and endurance would be put to the test much further with a perennial line of loved ones dying. His brother Edward, died in 1834, Charles in 1836, and his son Waldo (from his second wife Lydia Jackson) in 1842. After such a traumatic life, you might expect that Emerson, like any other person,would collapse into severe depression, lose hope, and lose meaning to his life. But Emerson was different. He found the answers within himself and rebounded into a mature man . After surviving a mentally hard life, Ralph Waldo Emerson seemed to gain more discernment toward life. Wisdom is gained through experience. By 1835, Emerson's rare and extravagant spirit was ready to be unleashed. All his deep feelings, emotions, and thoughts fabricated truth the way he arrived at truth, within himself. "To believe your own thought, to believe that what is true for you in your private heart is true for all men- that is genius. Speak your latent conviction and it shall be the universal sense; for always the inmost becomes the outmost-and our first thought is rendered back to us by the trumpets of the last judgment." Emerson fully believed this and supported it by taking part in a new philosophical movement called Transcendentalism. In 1836, his first boot,

Three Types of Cloning

Three Types of Cloning Free Online Research Papers Free healthcare was once a possibility. Just years ago our administration formed a plan that would allow free healthcare for the nation yet today we find ourselves struggling. People keep dieing of diseases we have barely funded cures for. The elderly are going without in order to pay for hundreds of dollars in prescriptions. Transplant lists grow page after pageeveryday. Good healthcare benefits are becoming a deal breaker for employees. With all of the millions of dollars spent in healthcare a year, there has to be a better way. Over the past decades, scientists and bio-engineers have come farther and farther in the field of medical advancements. We have come up with prosthetics, skin grafts, and machines that cure the sick or help those in need. (Cloning Fact Sheet 1) Although we have made many inventions and changed many people’s lives, most of our advancements only aid in more cosmetic issues and the pumps and valves we insert into organs and veins, may only stall the inevitable. The fact is that we have not found cures for cancer or AIDS. We do not have enough donated organs to replace those who are in need but there is something we can do about that. Scientists have discovered that it is possible to use cloning to clone human tissue and organs. Today three different kinds of cloning have been discovered: Recombinant DNA technology or DNA cloning, reproductive cloning, and therapeutic cloning. Recombinant DNA technology is practically the coping of a gene and/ or chromosomes. Reproductive cloning is the duplication of an animal buy implanting genetic material into an adult cell whose nucleus has been removed. Then either chemical or electric stimulation causes the cell to actually split forming an embryo, which is then implanted into the female until birth. In this process the animal created is not identical of the donor animal. This could be used to clone animals around the world where livestock may have died off and to create food. Therapeutic cloning is also referred to as â€Å"embryo cloning† and is the production of human embryos to harvest the stem cells. The harvesting of stem cells is where the development of tissue could be produced and used medically. This sort of technology could be the most beneficial. It could easily save lives and cure disease. According to Gralla, this process of cloning could also clone organs for transplants, which might put an end to the many people who lay around suffering while waiting to be moved up a space or two on a list that they could die before ever getting their chance. (148) Though the technology is far from being perfected, scientists have successfully cloned cells and animals. The very cloning of animals could be used to end starvation around the world. The loss of livestock would no longer ruin a family. If the government were to give more money to the scientists to possible perfect the cloning of cells, we could do so much to help people. Though there are many good things about cloning, organ cloning specifically, there are many drawbacks. Though there have been many documented successes in cloning, Dolly was one success out of many, many tries. 90% of clone attempts fail, not to mention the great expense of cloning. Along with the low efficiency of a perfect clone created with each time, those clones have a very low immune system and are more susceptible to disease and infection. Many develop tumors and many other disorders. Many of the cloned animals around the world died very young and were born at abnormal sizes but if funded, scientists could keep working to perfect the technology that could allow a perfect clone of a cell, each time. (Brown 368) The cost of keeping a person on life support costs thousands of dollars. The cost oh chemotherapy and dialysis machines are too great. Finding insurance that will cover even a fourth of a terminally ill person is rare. Prescriptions and experimental drugs are offered to possibly cure or delay sickness but many of the things found to work, are only available to those with the money to spend. There are millions of poverty stricken people who will die because they cannot afford to go to the hospital or who know there is no point in going to the hospital because they know they will die because they have no money for medicine and treatment. Cloning could produce viable organs for those on transplant lists and shorten their stay in hospitals and use of expensive machines and medicines. Cloning could produce healthy tissue that could maybe cure cancer and tumors, which would keep patients off of chemotherapy,which takes a terrible toll on the body, even with our modern medicine. Over all, the funding and advancement of cloning can only help us. There are many positive things it could do and the fist costs of developing it will ultimately save our country in healthcare. With these medical advancements in place, the healthcare deficit will decrease greatly. And maybe when we do perfect the process to where we produce healthy cells and tissue each time, we could expand this research into other countries and possibly put and end to terminal sickness and give all people, no matter of social or economical standings, a chance to live full and healthy lives. Research Papers on Three Types of CloningGenetic EngineeringThe Effects of Illegal ImmigrationTwilight of the UAWRiordan Manufacturing Production PlanBionic Assembly System: A New Concept of SelfInfluences of Socio-Economic Status of Married MalesMarketing of Lifeboy Soap A Unilever ProductPETSTEL analysis of IndiaPersonal Experience with Teen PregnancyThe Project Managment Office System

Etihad airways Essay Example | Topics and Well Written Essays - 500 words

Etihad airways - Essay Example The company has essentially covered a wider market within the short period of time. Etihad Airways has effective marketing mixing strategies that comprise of short-term policies and the long term objectives. The company’s short term strategies are increasing costs while increasing yield as well as maintaining customer value throughout and starting a status quo development of providing luxury at the least cost. Long term strategies are aimed at increasing profits by more than 5-10%, increasing customer value by 8-10% by the end of 2015 and increasing the number of staffs by 15% as well as increasing inbound holidays to Abu Dhabi by 2030. Etihad Airways segregates its services in Etihad Diamond first class and Etihad pearl Business class which is integrated with actual staff provision and the multi-cuisine availability on board. The augmentation and differentiation of the services provided by the airline company gives it maximum competitive advantage over other competitors such as Emirates Airlines, Air Arabia, Fly Dubai, and Qatar airways (Travel and Tourism News Middle East 2013, n.p). Etihad Airways has an advantage in Abu Dhabi since it is the center of tourism attraction and therefore the company has chauffer service in Abu Dhabi airport and many other airports for the first class and business class passengers. The company also uses another marketing strategy of providing 24 hour departure facilities which is different from other companies and an early hour arrival which is only unique and identifiable with the company. Furthermore, the company uses market penetration pricing strategy that is intended to increase its market share through delivering same services at same price as compared to other competitors. The company has well trained staffs which gives it high prospects particularly in its luxurious segments which made it notch very high in customer benchmarking. The company has had bundled pricing efforts

Wall-MArt Assignment Example | Topics and Well Written Essays - 500 words

Wall-MArt - Assignment Example The divisional structure works for Wal-Mart in attaining the objectives of each division. Annual shareholders meeting assists in the governing process of Wal-Mart in several aspects, with the assistance of a president or chief executive officer. The Wal-Mart Corporation has forty-one regions, thirty-five Wal-Mart regions and six Sam’s club regions (Maestri, 2010). Regional vice presidents head the regions thus supervise the operation of stores in the region. Each region has stores in each district chaired or headed by district managers for Wal-Mart stores and directors of operations for Sam’s clubs. District managers collaborate with regional personnel managers who are responsible for hiring workers and settling their issues. Each Wal-Mart has a person responsible for the overall store activities (store manager) and one in-charge of the overall activities (general manager). Below the store manager, there are co-managers; their deputies depending on the size of the store (Maestri, 2010). Down the ladder, there are hourly department managers who supervise all the junior workers in the stores. However, there are certain elements in the company that affect this structure. The company has a transparency policy in its operation, based on documents filed by the US Security Exchange Committee. This policy applies in all the Wal-Mart stores situated outside the territories of the US. The nomination of the Wal-Mart’s directors is based on shareholders votes. Wal-Mart has a significant number of stakeholders thus should engage all of them in its operations. However, this is not the case, as there is no evidence that shows the engagement of this audience in the executive duties. In addition, the Wal-Mart structure does not encourage training its staff in a manner that engages the stakeholders. Wal-Mart lacks a policy to appraise its ecological effects. However, it has a social assessment plan that evaluates its significance to the society through ethical

Cause and Effects of the invention of the Handphone Essay

Cause and Effects of the invention of the Handphone - Essay Example ated with using its sister-appliances – the telephone that had to be used within an area having a landline, and the carphone that involved using a device that was specially designed and fitted into automobiles. In both cases, the telephone users were forced to use the devices only when in close proximity to them {either at home/workplace or in the automobile}. The second cause was the bulky size of the telephone and carphone. People needed to have a smaller, lighter device that could be carried around easily. The third cause was the troublesome before and after subscription activities. Applying for a landline telephone is a lengthy process involving filling in bulky application forms, visiting the telecommunications office and waiting for subsequent installation visits by their technicians. For carphones, there is the hassle of ensuring that the chosen model fits correctly into the vehicle. Telephone or carphone bills have to be paid on time to ensure that the service is not t erminated. The fourth cause was that there was no text message that could be referred to; users of the telephone and carphone were constrained to limit their message to words, many of which are bound to be forgotten once the conversation ended. The last cause was the danger of being involved in car accidents due to diversion of attention caused by carphone conversations. The invention of the handphone has had several effects on society. First of all, people are able to benefit not only from communication via conversations, but in many other ways. The handphone has several other services such as Short Message Service {SMS} for exchanging text messages, email, packet switching to gain connection to the Internet, Bluetooth, games, camera with video recording and Multimedia Messaging Service {MMS} that can send and receive photographs and video clippings. Secondly, there is no restriction to using the handphone; it can be used in all areas where there could be no communication earlier, such as

Relationship between Foreign Direct Investment and Growth

Relationship between Foreign Direct Investment and Growth Chapter 1: INTRODUCTION This study will give us an opportunity to identify the determinants of FDI that develops economic growth, to understand the importance of foreign direct investment (FDI) in enhancing the economic growth in Malaysia, and also the relationship between (FDI) and the economic growth in Malaysia. In this chapter of study, the main focus will be on research background, research objectives, research questions and also the significant of study. Research Background 1.1.1 The Trend of Foreign Direct Investment (FDI) Flow in Malaysia The relationship between the growths of FDI with countries has been a debatable issue for several decades. This has become an eye opener which agreed by (Karimi, Sharift and Yusop, 2009, p.2) which drive policymakers to engage in incentives such as export processing zone and tax incentive in order to attract FDI. However, the determinant of FDI in each country is different and failure to understand how a specific country can attract FDI will bring difficulties to changes in economy. In the case of Malaysia, in 2007 the economy was ranked at 29th largest economy in the world with gross domestic products that worth to be $357.9billion (World Bank, 2007). Despite the impact of many externalities such as, oil crises in 1970s, to downturn in electronic industry in 1980s, and majorly impact the Asian financial crisis in 1997s. According to (Ministry of Finance, 2006) the growth of economy in Malaysia was consistent from 1988 to 1996 and maintain the economic annual growth of 7-10% per annu m, by the year 2005 the main source of growth was the manufacturing sector whose share of GDP increase to 31.4 percent. The key driver for the ongoing performance of Malaysias economy is the result of policy reform which is a determinant Foreign Direct Investment (FDI) which enhances the economic growth of Malaysia. The evidence here can be seen by (Ministry of Finance, 2001) introducing the Investment Incentives Act 1968, free trade zones in early 1970s, and export incentives with open policy in 1980s has led to an establishment of FDI in the 1980s. One good example to show that the government has use policy as a determinant of FDI would be, The Promotion of Investment Act (PIA) 1986 which gave a larger percentage of foreign equity ownership in order to attract FDI to enhance economy of Malaysia. This graph illustrates the FDI inflow from 1970-2004 in Malaysia. This research shown that (Har, Teo and Yee, 2008, p.12) FDI stock in Malaysia grew tremendously from 1970s to 1990s, despite fluctuation between the years, and the growth of FDI has been promising from $94 million dollars in 1970s to $2.6 billion by 1990s. Unfortunately, in the early 1990s, the rate of FDI inflow has decrease because of the slowdown investment in Malaysia by two main sources of investors which is Japan and Taiwan. As of 1996, the FDI rate (Har, Teo and Yee, 2008, p.12) has reach its peak when Malaysia successfully accumulated $7.3 billion dollar, by the end of 1998. There has been a major reduction in FDI inflow due to the financial crisis in 1997 that affected many Southeast Asia countries. Unfortunately, by the early 2000s the inflow of FDI in Malaysia has been unpredictable and inconsistent, but still manages to generate average inflow of $3billion per year. In 2007, Malaysias inward (FDI) performance index has reduce compared to the inward (FDI) potential index which shows that Malaysia lack the capability to attract foreign investors in this recent years as seen in table1, and the key factors is because neighboring countries such as China, and India has much more attractive offers such as lower labor cost that make their business more efficient. Since the inflow FDI has been decreasing, Malaysia was ranked 71 in 2007. The table above explains that inward FDI inflow in Malaysia were only US $ 8,043 million and it was only 2.6% of total inflow of FDI to Asia and by that time China has possesses the share of as much as 26.05%.(World Investment Report, 2008) The conclusion can be made here is that Malaysias reduction inflow of FDI is mainly because their incentive are becoming less competitive compared to other countries in Asia. Problem Statement FDI is strongly recommended to achieve consistent economic growth and resulting in modernisation in industrialisation and raise the living standards of the society. There are many determinants regarding FDI and based incentive policy is one of them. Research shows that (Lam and Liew, 2009, p.435) 2 main assumption of this incentive are that high monetary incentive allows FDI to be attracted easier and high inflow of FDI might lead to higher economic growth. Unfortunately, incentive is not necessary monetary-based like tax exemption but can be a long term relationship that seeks for mutual benefits of both sides. The evidence can be seen that the total inflow of FDI into the region of South East Asia, East Asia and South Asia has increased by 15% to USD 165million in 2005 but for Malaysia despite the fact that many monetary based incentives is provided, Malaysia still experiencing a decrease in foreign direct investment. (Tomlinson, Abdullah, Kolesnikov and Jessop, 2006) In 1990, Mala ysia was ranked 4th in the world for FDI, but was ranked 62th in 2005 and recorded negative inflow of net foreign direct investment in the year 2007 More attention should be given by government, researchers and policy makers to identify the problem and produce the solution that can stimulate the FDI in Malaysia. Much research has been done to stimulate FDI, but a lot lesser research has been carried out considering international relations because mostly focus on microeconomic aspect of domestic firm performance. It is very important for foreign investors to gain confidence to invest in Malaysia, hence enhance the economic growth in Malaysia. More research should be done to determinant other determinants of FDI in order to develop the performance of economy in Malaysia. It is very important for more research to be done on FDI with international relation in order to identify the determinants of FDI that can stimulate the economic growth of Malaysia and not on incentive that only focuses on profit maximization of one sided benefits. Research Objectives The objective of carrying out this study is as below: To review the determinants of FDI that is affecting economic growth in Malaysia To analyze the relationship between FDI and economic growth in Malaysia. To evaluate some policy actions related to increase the inflow of FDI in Malaysia. Research Questions This study is conducted to address the following research questions: Do the determinants of FDI inflow affect the economic growth in Malaysia? Will relationship with FDI result in bloom of economic growth in Malaysia? How policy actions can increase the inflow of FDI in Malaysia? Chapter 2 : LITERATURE REVIEW 2.0 Introduction In this section, a review of literature will provide us with a better understanding of the determinant of FDI and the growth of economic in Malaysia. This chapter focuses on the empirical studies on the role of FDI in the economic growth of host countries. Furthermore, a conceptual framework of these variables will be provided. 2.1 Review of Literature 2.1.1 Foreign Direct Investment (FDI) Foreign Direct Investment (FDI) has associate with many leading roles in development of host countries such as source of capital, new job opportunities, diffusion of new technology into country, and develop overall economic growth of host countries. Empirical studies have been carried out to show the relationship between FDI and economic growth while others focuses more on the causality of these two variables. Different methods are use by research to find out the determinants of FDI and the relationship it has with economic growth of host countries. By using cross-section data and OLS regression, Balasubramanyam (1996) found out that host countries that impose export promoting strategy produce positive growth of FDI on the economic growth but this does not apply to host countries as imposes import substitution strategy. Cross-sectional data has also conclude that high level of institutional capability which measured by degree of property right protection and bureaucratic efficiency in host country leads to a positive effect of FDI which enhances the economic growth of host countries. (Olofsdotter, 1998) In the work of Borensztein, et al. (1998), they utilize the cross country regression framework to analyse the effect of FDI on economic growth. They use the FDI flows data from industrial countries to 69 developing countries for the past two decades. Their research provided essential information that shown FDI plays an important role in diffusing new technology in host countries, and relatively boost overall economic growth rather than domestic investment. According to another research on (Borensztein et, al.1998) developing economies which focuses on the diffusion process of technology and economic growth, they found out that the positive impact of FDI on economic growth is highly dependent on the availability of human capital in the specific host country. De Mello (1999) uses both time series and panel data fixed effects for a sample of 32 developed and developing countries to study the relationship of FDI and economic growth. However, he only found out little result showing positi ve effect of FDI that affects the economic growth of host country. There are also other research that focuses on the causality between FDI and economic growth. Zhang (2001) and Choe (2003) use co integration and Granger causality test for a sample of 11 developing countries in East Asia and Latin America. Zhang (2001) found out that 5 cases that shows enhancement of economic growth but the condition of host country is important, so factors such as macro stability and trade regime must be attractive to attract FDI in host countries. Through the research of Choe (2003), the finding of casuality between FDI and economic growth shows that FDI is dependent on the economic growth of host country and not the other way around. Little evidence was shown that FDI enhance the growth of economy, but mainly supports that rapid economic growth enhances the FDI inflow into the country. Chowdhury and Mavrotas (2003) use innovative econometric methodology to identify the causality of FDI and economic growth. The research was done using time series data from 1969 to 2000 for three developing countries that are Malaysia, Chile and Thailand. Each country involve with different background of determinants of FDI such as macroeconomic episodes, growth patterns, and policy regimes. Their study found out that GDP was the cause of growth of FDI in Chile, but it does not go the same with Malaysia and Thailand which has strong evidence of bi-directional causality of these two variables. In the case of Frimpong and Abayie (2006), In the research (Bengoa and Sanchez-Robles, 2003) by using panel data to study Latin America between the relationship of FDI and economic growth, they found out there is a positive impact of FDI that lead to increase in economic growth but the research is similar to Borensztein, et.al, (1998) that says economic development depend on the countrys stability condition. Finally, Duasa (2007) which focus on the causality between FDI and output of economic growth in Malaysia and the study found no evidence of relationship between FDI and economic growth. These has indicate that in the case of Malaysia, FDI does not cause economic growth but FDI contributes to stability of growth as growth contributes to stability of FDI. In order to understand the determinants of FDI more accurately, we can see through research done by Vernon (1966) by using product cycle hypothesis which relates to trade theory by Hufbauer (1966). The theory is about the relationship between investment theory and trade theory by using products as they are export or invested. They found out that competition prices in host countries drives foreign investors to seek cost advantages especially labour cost. This shows that innovation of countries to attract FDI is important to improve economic growth. 2.1.2 Economic growth in Malaysia Export growth can be considered as the most researched determinant factor of (FDI) in economic growth. According to Chow (1987, p.124), the export growth of development countries can be identified through the impact of increase in countrys income, non-export production of goods, resource allocation, and capital efficiency, ability in handling external shocks, negative external effects and also total productivity factor. Therefore, research has shown export strategy has been an effective factor in enhancing the economic growth of developing countries. Furthermore, these countries have also testified that export promotion is an effective development strategy (Jung and Marshall, 1985). However, export strategy is not the main determinant factor of FDI that promotes economic growth. According to Ahmand and Harnhirun (1996) research, by using time data series from 1966 until 1988 to determine whether export is the main (FDI) factor that affects countries economic growth on industrial countries like Malaysia, Philipines, Singapore and Thailand, they found out that economic growth and export is dependent on development of countrys policy, and also economic development causes export growth not the other way around. In order to (Alfano et.al, 2004) identify the relationship between FDI, financial market, economic growth and also to find out whether countries with better financial systems are able to exploit FDI effectively. An empirical analysis was done by using cross country data from 1975 to 1995 which concluded that FDI played a leading role in contributing to economic growth in 71 countries which means countries with good financial market are able to take advantage of opportunity offered by FDI. Li and Liu (2005) studied whether FDI affect economic growth by using single and simultaneous system of equation techniques to test these two variables. Their research found a significant relationship between FDI and economic growth which identified, Human capital has indirect interaction with FDI that leads to positive impact on economic growth in developing countries, whereas countries with insufficient technology knowledge will have significant negative impact on economic growth in developing countries Another study done by Hsiao and Hsiao (2006) using panel data and time series from 1986 to 2004 to identify Granger causality between GDP, export and FDI among China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Philippines and Thailand found out that FDI has direct one way effect on GDP and indirect effect through export. There was also bilateral causal relationship between export and GDP. Lastly, study done by Baharumshah and Thanoon (2006) using quantitative assessment found out that FDI effects economic growth both long-term and short term in the host countries. Their research has also shown that countries that are able to attract inflow of FDI successfully can generate more investment which leads to faster overall development of economy, hence FDI is a major contributing factor in the economy of East Asian countries. Ang (2007) use annual time series data from 1960 to 2005 in order to find out the determinants of FDI in Malaysia found out that GDP growth had a significant positive impact on FDI inflow. 2.2 Theoretical Framework Foreign direct investment (FDI) Independent variable Dependent variable Technology advancement Economic growth in Malaysia Human Capital Policy development Social GDP 2.2.1 Analysis path This framework is to understand the research of the two variables in the case of my research proposal, foreign direct investment (FDI) is the independent variable and economic growth in Malaysia would be the dependent variable. The purpose of this research proposal is to understand the relationship of FDI and economic growth in Malaysia. In addition, Malaysia can implement different FDI contributing factor that can enhance economic growth in the country. The analysis here is about the determinants of FDI and it interests me in which Malaysia can implement and make FDI more attractive to be invested by foreign firms. In this analysis, the information accumulated should provide the key determinants of FDI at the same time enhance the development of economic growth in Malaysia. Chapter 3: METHODOLOGY 3.0 Introduction This section describes the research methodology use in the study to access the relationship between FDI and economic growth in Malaysia. Simple ordinary least square (OLS) regression and the empirical analysis are done using annual data of FDI and economic growth in Malaysia over the 1970-2005 periods. The research was done using annual data from IMF international Financial Statistic tables, published by International Monetary Fund to find out the relationship between FDI and economic growth in Malaysia. 3.1 Data 3.1.1 Data Resources According to Romano (2004), primary data can be define as data that is collected specially for the purpose of answering research question, while secondary data can be define as existing data collected in order to answer different research project. Secondary data was chosen for this research because it is less expensive compared to primary data, and takes less time to collect data that is needed for research. (Romano, 2004) Secondary data has made information far easier to be obtain by interpreting information from primary data and published them through secondary resource such as newspaper, journals, books, internet, and also research reports. () The existence of secondary data happens when a project needs the collection of data that has already been research in order to further understand the research question on a new project That is why secondary data is essential in order for us because it provide us with the knowledge to form research design and also answering our research quest ions in a more in depth scale. 3.1.2 Data Analysis Procedure In order to complete this research proposal we have mainly use secondary resource such as journals, websites, books, and also research report. Secondary resource has provided us with the information needed at the same time save us time and cost. KBU International College has provided us with books that contain the information needed for us to make references for our research topic. Internet network has been a major contribution by using the Google Chromes search engine we are able to obtain various journals and reports from websites that allows us to make reference and understand our research objectives. Emerald website in particular by using Anglia Ruskin University account has granted us the access to various journals that are easy to obtain without any hassle. The usage of less text book is because the library has insufficient information needed to answer our research questions. 3.2 Hypothesis Null hypothesis H0: FDI is not important for transporting advance technology to enhance host country economic growth. Alternate hypothesis H1: FDI is important for transporting advance technology to enhance host country economic growth. Technology advancement is essential in developing economic growth because it produces skilled labor that will enhance productivity and satisfying demands from consumer. According to Easterly et al. (1995), technology transfer depends on the diffusion process and can take place in 4 forms which is transfer of new technologies and ideas, high technology imports, foreign technology adoption and also level of human capital. Diffusion process of technology into host countries can be different depending on the human capital and availability of technology in the country itself. Example, study made by Borensztein (1998) on developing economies concluded that FDI has positive economy growth but the effect of magnitude depends on the availability of human capital in the host country. This clearly shows that advance technology is very important to enhance economic growth at different level of diffusion growth. Null hypothesis H0: Economic stability is not important to attract FDI into the country Alternate hypothesis H2: Economic stability is important to attract FDI into the country Many countries should pay more attention to economic stability in order to attract FDI which can enhance economic growth. With a stable economy it portrays a positive image and good economic positioning, which in turn attracts foreign investors to invest and generate profit from the investment made in the foreign country as a guaranteed. Therefore, determinants of economic stability should be given attention, the determinants are such as exports, and government expenditure, domestic consumption, and exchange rate that should be manage well by government. According to the research done by Kogid,et.al,(2010) , the most important determinant of economic stability in Malaysia is export and consumption expenditure. Their study also found out that government expenditure and exchange rate are less effective on economic growth but it does not mean it should be ignored but these factors can be act as catalyst and complement factor of economic growth. Null hypothesis H0: Implication of policy does not promote economic growth. Alternate hypothesis H3: Implication of policy does promote economic growth Implication of policy reform is important to draw attention of foreign investment. Policies to promote growth have evidence but it does not work for other countries. This can be seen from the study made by Ahmad and Harnhirun (1996) which studied on new industrial countries such as Indonesia, Malaysia, Philipines, Singapore and Thailand that found out export and economic growth dependent on development of policy. Therefore, government should impost relevant policies to attract FDI into Malaysia. Example, policies like joint venture which give opportunities to domestic producer to become one with foreign investors. This way will benefit local partner as they have exposure towards technology. 3.3 Limitation Theoretical framework of FDI that is use to analyses the FDI determinants and economic growth in Malaysia could have been done more accurately with more secondary resources. Firstly, KBU International College provides insufficient books that have relation with this research topic. However, KBU does provide student with the account to access Emerald websites that contains many research journals and reports that is very convenient for our research topic. In addition, some determinants of FDI in the theoretical framework were not taken into consideration because there has been insufficient research done on some determinants of FDI that affects economic growth in Malaysia. As a result, this research is not entirely completed to reflect the full extent of FDI on Malaysias economy growth. Since this research is mainly dependent on opinions of researchers around the world, this may lead to inaccuracy of research because they might disagree with research and opinions done by other authors around the world. 4.0 Ethical Consideration Before the research is done, respondents will be notified regarding the aim, benefits and purpose of the research is conducted and the method that is engage to carry out this research so that respondent will be able to understand the reason of caring out this research and the potential hazard level of this research. There are also no pressure of any kind shall be force for individual to become subject of research. In addition, respondents have the permission to withdraw or terminate from participating and becoming subject of the research. These are the ethical action taken so that there will be no violation of human rights. The identity of respondents from who involves in the survey is strictly confidential and shall be discarded once research is completed unless permission is granted by respondents for publish sake. No information of respondents will be revealed and included in the final report. Relationship between Foreign Direct Investment and Growth Relationship between Foreign Direct Investment and Growth Chapter 1: INTRODUCTION This study will give us an opportunity to identify the determinants of FDI that develops economic growth, to understand the importance of foreign direct investment (FDI) in enhancing the economic growth in Malaysia, and also the relationship between (FDI) and the economic growth in Malaysia. In this chapter of study, the main focus will be on research background, research objectives, research questions and also the significant of study. Research Background 1.1.1 The Trend of Foreign Direct Investment (FDI) Flow in Malaysia The relationship between the growths of FDI with countries has been a debatable issue for several decades. This has become an eye opener which agreed by (Karimi, Sharift and Yusop, 2009, p.2) which drive policymakers to engage in incentives such as export processing zone and tax incentive in order to attract FDI. However, the determinant of FDI in each country is different and failure to understand how a specific country can attract FDI will bring difficulties to changes in economy. In the case of Malaysia, in 2007 the economy was ranked at 29th largest economy in the world with gross domestic products that worth to be $357.9billion (World Bank, 2007). Despite the impact of many externalities such as, oil crises in 1970s, to downturn in electronic industry in 1980s, and majorly impact the Asian financial crisis in 1997s. According to (Ministry of Finance, 2006) the growth of economy in Malaysia was consistent from 1988 to 1996 and maintain the economic annual growth of 7-10% per annu m, by the year 2005 the main source of growth was the manufacturing sector whose share of GDP increase to 31.4 percent. The key driver for the ongoing performance of Malaysias economy is the result of policy reform which is a determinant Foreign Direct Investment (FDI) which enhances the economic growth of Malaysia. The evidence here can be seen by (Ministry of Finance, 2001) introducing the Investment Incentives Act 1968, free trade zones in early 1970s, and export incentives with open policy in 1980s has led to an establishment of FDI in the 1980s. One good example to show that the government has use policy as a determinant of FDI would be, The Promotion of Investment Act (PIA) 1986 which gave a larger percentage of foreign equity ownership in order to attract FDI to enhance economy of Malaysia. This graph illustrates the FDI inflow from 1970-2004 in Malaysia. This research shown that (Har, Teo and Yee, 2008, p.12) FDI stock in Malaysia grew tremendously from 1970s to 1990s, despite fluctuation between the years, and the growth of FDI has been promising from $94 million dollars in 1970s to $2.6 billion by 1990s. Unfortunately, in the early 1990s, the rate of FDI inflow has decrease because of the slowdown investment in Malaysia by two main sources of investors which is Japan and Taiwan. As of 1996, the FDI rate (Har, Teo and Yee, 2008, p.12) has reach its peak when Malaysia successfully accumulated $7.3 billion dollar, by the end of 1998. There has been a major reduction in FDI inflow due to the financial crisis in 1997 that affected many Southeast Asia countries. Unfortunately, by the early 2000s the inflow of FDI in Malaysia has been unpredictable and inconsistent, but still manages to generate average inflow of $3billion per year. In 2007, Malaysias inward (FDI) performance index has reduce compared to the inward (FDI) potential index which shows that Malaysia lack the capability to attract foreign investors in this recent years as seen in table1, and the key factors is because neighboring countries such as China, and India has much more attractive offers such as lower labor cost that make their business more efficient. Since the inflow FDI has been decreasing, Malaysia was ranked 71 in 2007. The table above explains that inward FDI inflow in Malaysia were only US $ 8,043 million and it was only 2.6% of total inflow of FDI to Asia and by that time China has possesses the share of as much as 26.05%.(World Investment Report, 2008) The conclusion can be made here is that Malaysias reduction inflow of FDI is mainly because their incentive are becoming less competitive compared to other countries in Asia. Problem Statement FDI is strongly recommended to achieve consistent economic growth and resulting in modernisation in industrialisation and raise the living standards of the society. There are many determinants regarding FDI and based incentive policy is one of them. Research shows that (Lam and Liew, 2009, p.435) 2 main assumption of this incentive are that high monetary incentive allows FDI to be attracted easier and high inflow of FDI might lead to higher economic growth. Unfortunately, incentive is not necessary monetary-based like tax exemption but can be a long term relationship that seeks for mutual benefits of both sides. The evidence can be seen that the total inflow of FDI into the region of South East Asia, East Asia and South Asia has increased by 15% to USD 165million in 2005 but for Malaysia despite the fact that many monetary based incentives is provided, Malaysia still experiencing a decrease in foreign direct investment. (Tomlinson, Abdullah, Kolesnikov and Jessop, 2006) In 1990, Mala ysia was ranked 4th in the world for FDI, but was ranked 62th in 2005 and recorded negative inflow of net foreign direct investment in the year 2007 More attention should be given by government, researchers and policy makers to identify the problem and produce the solution that can stimulate the FDI in Malaysia. Much research has been done to stimulate FDI, but a lot lesser research has been carried out considering international relations because mostly focus on microeconomic aspect of domestic firm performance. It is very important for foreign investors to gain confidence to invest in Malaysia, hence enhance the economic growth in Malaysia. More research should be done to determinant other determinants of FDI in order to develop the performance of economy in Malaysia. It is very important for more research to be done on FDI with international relation in order to identify the determinants of FDI that can stimulate the economic growth of Malaysia and not on incentive that only focuses on profit maximization of one sided benefits. Research Objectives The objective of carrying out this study is as below: To review the determinants of FDI that is affecting economic growth in Malaysia To analyze the relationship between FDI and economic growth in Malaysia. To evaluate some policy actions related to increase the inflow of FDI in Malaysia. Research Questions This study is conducted to address the following research questions: Do the determinants of FDI inflow affect the economic growth in Malaysia? Will relationship with FDI result in bloom of economic growth in Malaysia? How policy actions can increase the inflow of FDI in Malaysia? Chapter 2 : LITERATURE REVIEW 2.0 Introduction In this section, a review of literature will provide us with a better understanding of the determinant of FDI and the growth of economic in Malaysia. This chapter focuses on the empirical studies on the role of FDI in the economic growth of host countries. Furthermore, a conceptual framework of these variables will be provided. 2.1 Review of Literature 2.1.1 Foreign Direct Investment (FDI) Foreign Direct Investment (FDI) has associate with many leading roles in development of host countries such as source of capital, new job opportunities, diffusion of new technology into country, and develop overall economic growth of host countries. Empirical studies have been carried out to show the relationship between FDI and economic growth while others focuses more on the causality of these two variables. Different methods are use by research to find out the determinants of FDI and the relationship it has with economic growth of host countries. By using cross-section data and OLS regression, Balasubramanyam (1996) found out that host countries that impose export promoting strategy produce positive growth of FDI on the economic growth but this does not apply to host countries as imposes import substitution strategy. Cross-sectional data has also conclude that high level of institutional capability which measured by degree of property right protection and bureaucratic efficiency in host country leads to a positive effect of FDI which enhances the economic growth of host countries. (Olofsdotter, 1998) In the work of Borensztein, et al. (1998), they utilize the cross country regression framework to analyse the effect of FDI on economic growth. They use the FDI flows data from industrial countries to 69 developing countries for the past two decades. Their research provided essential information that shown FDI plays an important role in diffusing new technology in host countries, and relatively boost overall economic growth rather than domestic investment. According to another research on (Borensztein et, al.1998) developing economies which focuses on the diffusion process of technology and economic growth, they found out that the positive impact of FDI on economic growth is highly dependent on the availability of human capital in the specific host country. De Mello (1999) uses both time series and panel data fixed effects for a sample of 32 developed and developing countries to study the relationship of FDI and economic growth. However, he only found out little result showing positi ve effect of FDI that affects the economic growth of host country. There are also other research that focuses on the causality between FDI and economic growth. Zhang (2001) and Choe (2003) use co integration and Granger causality test for a sample of 11 developing countries in East Asia and Latin America. Zhang (2001) found out that 5 cases that shows enhancement of economic growth but the condition of host country is important, so factors such as macro stability and trade regime must be attractive to attract FDI in host countries. Through the research of Choe (2003), the finding of casuality between FDI and economic growth shows that FDI is dependent on the economic growth of host country and not the other way around. Little evidence was shown that FDI enhance the growth of economy, but mainly supports that rapid economic growth enhances the FDI inflow into the country. Chowdhury and Mavrotas (2003) use innovative econometric methodology to identify the causality of FDI and economic growth. The research was done using time series data from 1969 to 2000 for three developing countries that are Malaysia, Chile and Thailand. Each country involve with different background of determinants of FDI such as macroeconomic episodes, growth patterns, and policy regimes. Their study found out that GDP was the cause of growth of FDI in Chile, but it does not go the same with Malaysia and Thailand which has strong evidence of bi-directional causality of these two variables. In the case of Frimpong and Abayie (2006), In the research (Bengoa and Sanchez-Robles, 2003) by using panel data to study Latin America between the relationship of FDI and economic growth, they found out there is a positive impact of FDI that lead to increase in economic growth but the research is similar to Borensztein, et.al, (1998) that says economic development depend on the countrys stability condition. Finally, Duasa (2007) which focus on the causality between FDI and output of economic growth in Malaysia and the study found no evidence of relationship between FDI and economic growth. These has indicate that in the case of Malaysia, FDI does not cause economic growth but FDI contributes to stability of growth as growth contributes to stability of FDI. In order to understand the determinants of FDI more accurately, we can see through research done by Vernon (1966) by using product cycle hypothesis which relates to trade theory by Hufbauer (1966). The theory is about the relationship between investment theory and trade theory by using products as they are export or invested. They found out that competition prices in host countries drives foreign investors to seek cost advantages especially labour cost. This shows that innovation of countries to attract FDI is important to improve economic growth. 2.1.2 Economic growth in Malaysia Export growth can be considered as the most researched determinant factor of (FDI) in economic growth. According to Chow (1987, p.124), the export growth of development countries can be identified through the impact of increase in countrys income, non-export production of goods, resource allocation, and capital efficiency, ability in handling external shocks, negative external effects and also total productivity factor. Therefore, research has shown export strategy has been an effective factor in enhancing the economic growth of developing countries. Furthermore, these countries have also testified that export promotion is an effective development strategy (Jung and Marshall, 1985). However, export strategy is not the main determinant factor of FDI that promotes economic growth. According to Ahmand and Harnhirun (1996) research, by using time data series from 1966 until 1988 to determine whether export is the main (FDI) factor that affects countries economic growth on industrial countries like Malaysia, Philipines, Singapore and Thailand, they found out that economic growth and export is dependent on development of countrys policy, and also economic development causes export growth not the other way around. In order to (Alfano et.al, 2004) identify the relationship between FDI, financial market, economic growth and also to find out whether countries with better financial systems are able to exploit FDI effectively. An empirical analysis was done by using cross country data from 1975 to 1995 which concluded that FDI played a leading role in contributing to economic growth in 71 countries which means countries with good financial market are able to take advantage of opportunity offered by FDI. Li and Liu (2005) studied whether FDI affect economic growth by using single and simultaneous system of equation techniques to test these two variables. Their research found a significant relationship between FDI and economic growth which identified, Human capital has indirect interaction with FDI that leads to positive impact on economic growth in developing countries, whereas countries with insufficient technology knowledge will have significant negative impact on economic growth in developing countries Another study done by Hsiao and Hsiao (2006) using panel data and time series from 1986 to 2004 to identify Granger causality between GDP, export and FDI among China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Philippines and Thailand found out that FDI has direct one way effect on GDP and indirect effect through export. There was also bilateral causal relationship between export and GDP. Lastly, study done by Baharumshah and Thanoon (2006) using quantitative assessment found out that FDI effects economic growth both long-term and short term in the host countries. Their research has also shown that countries that are able to attract inflow of FDI successfully can generate more investment which leads to faster overall development of economy, hence FDI is a major contributing factor in the economy of East Asian countries. Ang (2007) use annual time series data from 1960 to 2005 in order to find out the determinants of FDI in Malaysia found out that GDP growth had a significant positive impact on FDI inflow. 2.2 Theoretical Framework Foreign direct investment (FDI) Independent variable Dependent variable Technology advancement Economic growth in Malaysia Human Capital Policy development Social GDP 2.2.1 Analysis path This framework is to understand the research of the two variables in the case of my research proposal, foreign direct investment (FDI) is the independent variable and economic growth in Malaysia would be the dependent variable. The purpose of this research proposal is to understand the relationship of FDI and economic growth in Malaysia. In addition, Malaysia can implement different FDI contributing factor that can enhance economic growth in the country. The analysis here is about the determinants of FDI and it interests me in which Malaysia can implement and make FDI more attractive to be invested by foreign firms. In this analysis, the information accumulated should provide the key determinants of FDI at the same time enhance the development of economic growth in Malaysia. Chapter 3: METHODOLOGY 3.0 Introduction This section describes the research methodology use in the study to access the relationship between FDI and economic growth in Malaysia. Simple ordinary least square (OLS) regression and the empirical analysis are done using annual data of FDI and economic growth in Malaysia over the 1970-2005 periods. The research was done using annual data from IMF international Financial Statistic tables, published by International Monetary Fund to find out the relationship between FDI and economic growth in Malaysia. 3.1 Data 3.1.1 Data Resources According to Romano (2004), primary data can be define as data that is collected specially for the purpose of answering research question, while secondary data can be define as existing data collected in order to answer different research project. Secondary data was chosen for this research because it is less expensive compared to primary data, and takes less time to collect data that is needed for research. (Romano, 2004) Secondary data has made information far easier to be obtain by interpreting information from primary data and published them through secondary resource such as newspaper, journals, books, internet, and also research reports. () The existence of secondary data happens when a project needs the collection of data that has already been research in order to further understand the research question on a new project That is why secondary data is essential in order for us because it provide us with the knowledge to form research design and also answering our research quest ions in a more in depth scale. 3.1.2 Data Analysis Procedure In order to complete this research proposal we have mainly use secondary resource such as journals, websites, books, and also research report. Secondary resource has provided us with the information needed at the same time save us time and cost. KBU International College has provided us with books that contain the information needed for us to make references for our research topic. Internet network has been a major contribution by using the Google Chromes search engine we are able to obtain various journals and reports from websites that allows us to make reference and understand our research objectives. Emerald website in particular by using Anglia Ruskin University account has granted us the access to various journals that are easy to obtain without any hassle. The usage of less text book is because the library has insufficient information needed to answer our research questions. 3.2 Hypothesis Null hypothesis H0: FDI is not important for transporting advance technology to enhance host country economic growth. Alternate hypothesis H1: FDI is important for transporting advance technology to enhance host country economic growth. Technology advancement is essential in developing economic growth because it produces skilled labor that will enhance productivity and satisfying demands from consumer. According to Easterly et al. (1995), technology transfer depends on the diffusion process and can take place in 4 forms which is transfer of new technologies and ideas, high technology imports, foreign technology adoption and also level of human capital. Diffusion process of technology into host countries can be different depending on the human capital and availability of technology in the country itself. Example, study made by Borensztein (1998) on developing economies concluded that FDI has positive economy growth but the effect of magnitude depends on the availability of human capital in the host country. This clearly shows that advance technology is very important to enhance economic growth at different level of diffusion growth. Null hypothesis H0: Economic stability is not important to attract FDI into the country Alternate hypothesis H2: Economic stability is important to attract FDI into the country Many countries should pay more attention to economic stability in order to attract FDI which can enhance economic growth. With a stable economy it portrays a positive image and good economic positioning, which in turn attracts foreign investors to invest and generate profit from the investment made in the foreign country as a guaranteed. Therefore, determinants of economic stability should be given attention, the determinants are such as exports, and government expenditure, domestic consumption, and exchange rate that should be manage well by government. According to the research done by Kogid,et.al,(2010) , the most important determinant of economic stability in Malaysia is export and consumption expenditure. Their study also found out that government expenditure and exchange rate are less effective on economic growth but it does not mean it should be ignored but these factors can be act as catalyst and complement factor of economic growth. Null hypothesis H0: Implication of policy does not promote economic growth. Alternate hypothesis H3: Implication of policy does promote economic growth Implication of policy reform is important to draw attention of foreign investment. Policies to promote growth have evidence but it does not work for other countries. This can be seen from the study made by Ahmad and Harnhirun (1996) which studied on new industrial countries such as Indonesia, Malaysia, Philipines, Singapore and Thailand that found out export and economic growth dependent on development of policy. Therefore, government should impost relevant policies to attract FDI into Malaysia. Example, policies like joint venture which give opportunities to domestic producer to become one with foreign investors. This way will benefit local partner as they have exposure towards technology. 3.3 Limitation Theoretical framework of FDI that is use to analyses the FDI determinants and economic growth in Malaysia could have been done more accurately with more secondary resources. Firstly, KBU International College provides insufficient books that have relation with this research topic. However, KBU does provide student with the account to access Emerald websites that contains many research journals and reports that is very convenient for our research topic. In addition, some determinants of FDI in the theoretical framework were not taken into consideration because there has been insufficient research done on some determinants of FDI that affects economic growth in Malaysia. As a result, this research is not entirely completed to reflect the full extent of FDI on Malaysias economy growth. Since this research is mainly dependent on opinions of researchers around the world, this may lead to inaccuracy of research because they might disagree with research and opinions done by other authors around the world. 4.0 Ethical Consideration Before the research is done, respondents will be notified regarding the aim, benefits and purpose of the research is conducted and the method that is engage to carry out this research so that respondent will be able to understand the reason of caring out this research and the potential hazard level of this research. There are also no pressure of any kind shall be force for individual to become subject of research. In addition, respondents have the permission to withdraw or terminate from participating and becoming subject of the research. These are the ethical action taken so that there will be no violation of human rights. The identity of respondents from who involves in the survey is strictly confidential and shall be discarded once research is completed unless permission is granted by respondents for publish sake. No information of respondents will be revealed and included in the final report.