The Essential Elements of Giving a Speech free essay sample

Educational level varies from high-school graduates to degree-holders. Economic background is mostly middle class, with a minority from the poorer classes, and only a few have more privileged backgrounds. SPEECH: Good afternoon, ladies and gentlemen, and thank you for attending this workshop. My name is Kerry Chin, from BBC Private Limited, and I am here to present a little speech on, ironically, The Essential Elements of Giving a Speech. . First I would like to thank my employer for giving me the opportunity to present a speech, and I would Like to thank my dear colleagues for supporting me during my reparation.I would also Like to thank the organizers for preparing such a wonderful and useful workshop, and for handling all the details so well. Now that we have the notable mentions out of the way, let us move on to the topic at hand. Since I dont want to bore any of you, Im going to keep this speech short. We will write a custom essay sample on The Essential Elements of Giving a Speech or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Basically, I will talk about the three basic components of a speech: the beginning, where I will tell you how to catch your audiences attention; the middle, where I will inform you how to keep your audience engaged in the speech; and the end, where I will teach you how to make your speech memorable.Some of you may be asking: why do we need to know how to give a speech? You many think: l dont Intend to go up on podiums and address the public at large, so why should I learn about giving speeches? . But let me tell you this, ladles and gentlemen, that there Is no greater skill that can make or break your career and business better than effective public speaking. It doesnt matter whether youre In a boardroom speaking to a small committee of five decision makers, or in an arena raise, knowing how to present your point of view persuasively without being pushy an really make a difference in thriving or Just merely surviving in the competitive world of corporate business. Why do we give speeches? The basis of a speech is to create awareness for your chosen topic. From a marketing point of view, awareness is always the first goal you have to achieve in public speaking. Im sure most of you know that if you and your idea never receives exposure, there is no way you can present it to the public at large.Public speaking, when well-executed, can deliver your message better than any other medium, simply because you are talking about something that is important to tooth you and the audience. But practically any speech will create some awareness for your message. If you truly want to see the results you want, you have to go beyond that superficial first i mpression. You have to make your audience understand your message. To do that, you have to deliver your presentation of your message with skill and charisma. The stronger your presentation skills, the better your audience will remember and understand the key points of your message.Even so, it isnt enough. Your audience may understand what you are trying to say, but it doesnt mean that they would agree to your message. So you have to persuade your audience to not only remember the key points, but also to actually buy that message. You want your message, combined with your speech style to reach these people on an emotional level where they can find interest in your message. Finally, the ultimate result is to present your message so powerfully that your audience is moved to take action Suggested by you, of course.This is certainly the most difficult result to obtain from giving a speech, but this is the ultimate goal you as a speaker must have in mind. What are the benefits you can get from learning how to make speeches effectively? Lets see, how does increased credibility sound to you? Since most people are afraid of speaking to a group, the fact that you can, and do it with passion and skill, will definitely draw admiration from your peers, and theyll be convinced youre an expert if you deliver your message well. Also, if you are able to speak on a subject with authority and enthusiasm, people will regard you as an expect. After all, you wouldnt be constantly called upon to speak unless you know what youre talking about and can talk about it well, would you? Secondly, youll get increased exposure. Exposure is the very bare bones of every marketing strategy. Since most of the time youre putting yourself on a pedestal, literally or figuratively speaking, more people will start to notice you, and what better way to show off your leadership skills? With the credibility youd from the early stages, you may find yourself invited to conduct seminars or give motivational talks.A one-hour keynote speech may lead to a half-day seminar at a national convention. Who knows? You may be even asked to make videotapes or to write articles, and all those recording and printing copyrights will generate a pretty tidy sum of money. Look at Donald Trump and all those books he wrote! Okay, maybe not all of us can be hat good, but we can dream, cant we? In short, public speaking makes you visible, and can lead to other forms o f exposure that will make you even more visible, and it and business an edge above your competitors.In short, public speaking makes you visible, and can lead to other forms of exposure that will make you even more visible, and it is this snowballing of exposure that will put you on the fast track, giving your career and business an edge above your competitors. But first, how can you deliver an effective speech? First, you have to catch your audiences attention. Most of the time when you start your speech youll see people ailing about, talking with each other, eating, or even napping. So grab their attention! Ever seen how a coach catches the sports teams attention?There is a good reason why they have that whistle dangling around their neck. One sharp blow, and everyone is alert. The speakers equivalents to that whistle are humor and anecdotes. A quick Joke, or an appropriate story, or even a catchy phase, will do wonders to catch attention. In addition, little things like Jokes and stories will develop and build a rapport with your audience. This in turn allows them to become more receptive of your message. We hear what we like to hear, after all, and if you like someone youll tend to listen more. The best of stories, of course, are short ones that nevertheless are full of meaning.Using the words of the poet Cooper: A tale should be Judicious, clear, succinct, The language plain, the incidents well-linked; Tell not as new what everybody knows; And, new or old, still hasten too close. When looking for anecdotes, try to keep to personal ones based on your own experience. Not only are they original and safer, there is also less risk of repeating a story everyone else had heard before. Unless, of course, you are a well-established speaker will a massive fantasy, at that point which you should be good enough to keep looking for new material to keep your speeches from being repetitive. Your stories can be humorous, or they can be dramatic, but more importantly, be sincere about your stories. The point of using anecdotes based on your own experiences is to show your audience a little bit of yourself, and that enables them to connect with you. It isnt necessary for you to recite every detail from a certain event, but using your own experiences that are relevant and appropriate of your audience ill help you enforce or drive home a point while at the same time allowing you to build that all-important rapport between you and the audience.All right, some of you may be asking: is humor necessary for making a good speech? The answer is no, but it can be a useful tool. Some of the best speeches in the world, like Winston Churchill Iron Curtain in 1946, or Nelson Mandelas l am Prepared to Die in 1964, are some of the best historic speeches in the world, and both are perfectly serious. We also cannot forget about Martin Luther King, who was not trying to be funny at all when he said l Had a Dream at the March on Washington of 1963. But when well-utilized, humor can become a critical part of an effective presentation. As Ella Wheeler Wilcox wrote: Laugh, and the world laughs with you. Proper use of humor not only maintains the interest of your audience, but also that, your audience is more likely to remember a point that is delivered with humor than with seriousness. More importantly, however, it builds more rapport between you and the audience. The downside, however, is that humor is difficult to master. Not everyone is funny, and if youre the kind that isnt, then its better not to try. Trying to be funny when youre not is intensely embarrassing to both you and the audience.So how does one utilize humor in presentations? One, it must, of course, be funny. Something that tickles your funny bone may not work with the audience. Two, it must be original. Repeating old Jokes and cliches may be easy, but might not get any reaction from the audience simply because they are too stale. It doesnt mean you have to totally come up with new material, of course. Simply putting your own original spin on a funny story thats relevant to the point youre trying to make is good enough. Three, whatever humor you want to use, make in relevant.Remember, people are spending precious time with you to learn something. If you spend half that time more on getting them in stitches than trying to deliver your message, then join a comedy club. Always remember that humor is a tool, not the whole point of your speech. Whether you used humor or storytelling, once you have the attention of your audience, only then you can start to interact with your audience. Involving your audience in your presentation is a powerful and incredibly useful way to connect with your audience, and it will drive your message home even more.Some of the techniques used include audience surveys, quizzes, handouts, and written exercises. But you must do it with a purpose in mind. Only use audience participation when you want to enforce a point or want to uncover information you need to make a presentation, not simply because you can. For example, the nine-dots-in-a-box puzzle. In a speech or seminar on thinking beyond the boundaries, this is a very effective way of conveying that message. Your goal is to connect all the dots with four straight consecutive lines, without repeating a line or lifting your pen off the paper.A reader version involves using only three consecutive lines. While this is a fun exercise, if youre presenting this puzzle in a speech on, say, preventing drug abuse, you will not only distract the audience, but you will lose credibility because the audience may think that youre trying to manipulate them. But if there is one thing that can quickly turn off an audience more than anything else, it is a boring speaker. Drone on in a monotone, with a robotic expression on your face, and most will be nodding in their seats in a heartbeat. Always remember: be lively, be energetic. Nothing spurs the audience more than an enthusiastic beaker. Use eye contact, and adjust your voice according to the importance of what youre saying. If you can put your emotions into your speech, by all means go ahead. Remember, you are in the public eye, and you are there to portray a certain image, whether you like it or not. So embrace the spotlight and be an actor, but be very careful to not become over dramatic, which will drawn snigger more than respect.A person of power knows how to restrain himself or herself, so to project an image of authority and control, use sharp, well-controlled gestures that makes you seem as if oh move with purpose; which is basically what you should be doing. Gestures, body language and voice modulation. Firstly, gestures. Gestures can be the most powerful form of non-verbal communication that you as a speaker can employ. Gestures clarify and support your words, provide emphasis, act as a kind of visual aid, are highly visible, helps dissipate nervousness, and more importantly stimulates audience participation.To use gesturing, simply allow your body to respond naturally to your thoughts, words and feelings. Natural, spontaneous gesturing that looks smooth and well-time can do wonders for maintaining your audiences attention. But keep nervous gestures like head-scratching and the fig-leaf, where you stand with your hands over your body near your abdomen, to a minimum or get rid of them altogether. They serve no point, and only conveys your nervousness. Just remember not to overdo your gestures, and you shouldnt have to worry.While gestures refer to the use of hand and arm movement, body language refers to the way you carry yourself. In other words, you posture, and the way you move onstage. Your body language reveals exactly how confident you are, and can deliver a stronger impact than merely gesturing alone. Lets say for example that if you speak with shoulders slumped, head down and eyes on the floor, while walking with a shuffling gait. You can have the most expressive gestures in the world, but the audience is only going to see one thing: lack of confidence. On the other hand, if youre bouncing around in a hyperactive manner on stage like a Durable bunny that just swallowed a whole coffee farm, donkeys and all, you are going to project an image of nervousness. Body language has a great part in influencing your audiences reception of your words, so make sure that you project positive body language. The simplest way is to give an image of confidence: shoulders back, spine straight, chest out, and chin up. This not only gives you an air of self-confidence, it also helps relieve whatever nervous tension you might have.Creating positive body language is a lot to do with practice and habit. Make sure that when you are on stage, you do not overdo any kind of movement unless you are deliberately using it for dramatic effect in a story. Dont try imitating others; let your body respond in a natural, smooth-flowing, and spontaneous way. Let yourself mirror your own feelings. You must strive to look as if oh are speaking informally with friends or family. And yes, as contrary as it sounds, you need to practice how to be spontaneous so that you make it into a habit. Again, practice, practice, practice comes to play here.Nothing builds confidence faster than good preparation. If you are prepared, the knowledge itself will translate on stage as confidence. What about voice modulation? Its simple, really; nothing kills a presentation faster than a powerful word or statement spoken in a monotone. Martin Luther King is a historical figure who has a powerful way of using voice modulation. I have a clip here n Powering showing his voice, an excerpt from his The Drum Major Instinct. As you have heard, his voice places emphasis on certain words, like wonderful, greatness, and serve.He raises his voice, or lowers it, as he sees fit to emphasize his message. To learn how to use voice modulation, start by recording your speech. Listen to that recording. Then practice, practice, practice. Once you go out onstage, have a group of listeners whose opinion you trust and respect listen to you, and later your speech, then you have a keeper. After that, you must make sure your audience remembers your speech. You may eve the greatest idea in the universe, but if two hours later everyone has forgotten about it, there is simply no point.How do we go about making an impact? First, encourage your audience to take notes on important points of your speech, and after the speech give handouts containing details. This double emphasis will let the message sink more in your audience. You can also provide visual aids, which will serve as memory Joggers. By stimulating you audience in both sight and sound, youll create a greater impact in their minds. In addition, try to use visual aids at any appropriate chance you get; they an do wonders for creating interest and variety in your presentations.Visual aids not only allows your audience to understand and retain your message better and faster, it helps keep your presentation on track and eases your nerves, since you are essentially doing no more than demonstrating and embellishing what is shown through your visual aid. Of course, make sure that the equipment provided will actually help you present your visual aids. Theres no point bringing a DVD with a killer Powering Presentation using the latest techniques when you arena doesnt even have video projectors. Always do your research before doing something.What are the best kinds of visual aid? There is no answer to this. It depends on available equipment, on available time, and on available resources. It depends on the size of the room, the number of participants, and the location of the event. Visual aids can range from simple written or printed material like flowcharts, to physical objects like props, to electronic and mechanical equipment like transparencies, 35 mm slides, prerecorded videos, and computer presentations. Each allows you to prepare them well in advance of your scheduled presentation.However, only aliphatic and transparencies allow you to create the visual DURING your presentation. This is why they are often used during parts of the talk that involves audience participation. Chalkboards and whiteboards cannot be pre-prepared and is used exclusively for on-the-spot visuals as you present your material. Take the Powering presentation, of which I am sure that all of you are familiar with. With the ever-increasing advances in information technology, most of use nowadays would have used or been exposed to Powering in one way or another.A program like Powering allows you to design screens on your computer with a omelet array of text, colors and illustrations. In fact, with slightly more advanced knowledge you can incorporate music, videos, and graphic images. Then you can arrange these screens in any sequence you which, and you can even use limited animation to create interest in your slides. But in order to use Powering to present information during your presentation, you need two pieces of equipment: a notebook and a projector, whether video or standard overhead.Both of these equipment are not only rather expensive and thus poses a bit of cost and some security risk, they are also relatively bulky and hard to transport around. Also, it is difficult to change the sequence of your screens while in the middle of your presentation, which can pose a bit of a problem when y our audience wants to move in a slightly different direction, and you might not able to bring the visuals along with you. Not to mention means that there is a margin for error, since the program can easily crash or fail to work properly.When it works correctly, Powering presentations can provide a very impressive and memorable impression on your audience. But when something goes wrong, it can easily disrupt your whole speech. In the end, the choice of visual aids lies in your hands. It very much depends on where and when are you giving your speech, as well as your own personal preference. You can also use props, which is essentially a three-dimensional object you have bought or made. When you want to use props in your presentation, make sure you plan, plan, plan. Plan how to use the prop.Plan when to use the prop. Plan where to use the prop. And make sure that when you use it, you inform your audience why you are using it. The process is relatively simple. First, go through your speech or your seminar outline and identify a point or a story where a prop can be used to enhance and enforce your message. Make or buy the prop that you need, and then practice using it in your presentation until you feel confident and comfortable using it. Then demonstrate this in front of friends who can provide feedback, and use their suggestions to modify or correct your presentation.Once youve perfected your delivery with this prop, simply repeat the process for the next prop. Props can generate impact, but used in the wrong context, can be outright distracting and may actually hurt your presentation. So chose wisely, and make sure you are confident enough to use it. When it comes to transporting props, it depends on its bulk, rigidity, and how dangerous it is. Certain props that include gimmicks like pyrotechnics are sometimes tricky to bring around, especially when you have to go through places with security measures, the airport being a good example.But I always maintain the belief that YOU are your best visual aid. An effective speech, in the end, always comes from the heart, and with the use of emotions, gestures, and a bit of acting, you can deliver a strong message on your own. How you dress, move and sound already does most of the talking for you. To impact your audience, you have to master your non-verbal communicating skills; facial expression, tone of voice, and movements all contribute to you making an effective and evocative speech. Use your hands to gesture and illustrate movement and form, and when you move make it natural and confident.Use your voice to reflect emotions. Slow down, speak distinctly without straining your voice, and use occasional pauses to catch and hold attention. Dress in proper attire suited to the occasion, and try to keep colors and accessories from being too loud. If your audience cant keep their eyes off your technicality batik shirt, for example, or the massive flower youve mined to your color, then youre definitely going to lose impact since their so distracted by your colorful fashion sense. Repetition is also an important key in getting your audience to remember you. Devices like this heightens drama, which leads to greater impact.Remember the speech from Martin Luther King youve Just heard? See? You remember his words because he uses a lot of repetition. With the use of repetition, hes driving home the point that you have to serve. But remember to limit your contents. Too much detail can be overwhelming to the average listener, and he or she will respond by immemorially tuning you out in order to process all that information youve bombarded handful of well-chosen points, illustrated with simple supporting ideas, and summed up with a powerful conclusion, will almost always be remembered better than a 50- page long speech filled to brim w ith data. Finally, review and summaries. This is the oldest teaching principle in the book, and there is a good reason why professional speakers still use it today. Because essentially, your audience is going to remember two things most clearly, the beginning of your speech, and the end of your speech. By first telling what youre going to tell, telling it, then telling what youve Just told, youre essentially using repetition. For example, you first state your thesis statement in your introduction, which is basically a summary of the main points in your speech.Then you move on to your speech, where you elaborate and embellish your main points with supporting statements and arguments. Finally, when you reach the end of your speech, you restate your thesis statement, slightly modified, and inform the conclusion of the speech. This Three Times Over method is the single most effective way to imprint our message in your audiences brain. If you are able to use your conclusion to reinstate your points As Lord Macaroon once said: A speech is like a love affair-?any fool can start one, but to end it requires considerable skill. Finish off with a strong, powerful conclusion that summarizes all your points and reinforces your thesis statement, and youll leave behind a powerful memory. Ladies and gentlemen, before I finish off I want you to remember that when all things are said and done, a speech is a speech, and a speech is nothing more than a way to deliver your message to your chosen audience. All of us, I am sure, have something of interest to say, yet do not know how to say it.The tips I have given you today are simply the very bare bones of the art of successful speaking, of how to gain trust and enhance your credibility. I have told you how to capture the attention of your audience with the use of humor an d well-chosen anecdotes, how to hold on to their interest as you deliver your message by controlling your gestures and modifying your voice tone and volume, and how to leave a great impression once youve finished using repetition and visual aids. The nature of oral communication is fleeting one, and the best way to learn how to speak is to go out and do it.

Free Essays on The Impact Of The Cold War On American Foreign Policy

The Cold War emerged out of the post-World War II struggle between the United States (US) and its allies and the Union of Soviet Socialist Republics (USSR) and its allies. During the Cold War period, which lasted from the mid-1940s until the end of the 1980s, American foreign policy and international politics were heavily shaped by the intense rivalry between these two great blocs of power and the political ideologies they represented: democracy and capitalism in the case of the United States and its allies, and Communism in the case of the Soviet bloc. The principal allies of the United States during the Cold War included Britain, France, West Germany, Japan, and Canada. On the Soviet side were many of the countries of Eastern Europe- including Bulgaria, Czechoslovakia, Hungary, Poland, East Germany, and Romania- and, during parts of the Cold War, Cuba and China. American journalist Walter Lippmann first popularized the term cold war in a 1947 book by that name. By using the term, Lippmann meant to suggest that relations between the USSR and its World War II allies (primarily the United States, Britain, and France) had deteriorated to the point of war without the occurrence of actual warfare. Over the next few years, the emerging rivalry between these two camps hardened into a mutual and permanent preoccupation. It dominated the foreign policy agendas of both sides and led to the formation of two vast military alliances: the North Atlantic Treaty Organization (NATO), created by the Western powers in 1949; and the Soviet-dominated Warsaw Pact, established in 1955. Although centered originally in Europe, the Cold War enmity eventually drew the United States and the USSR into local conflicts in almost every quarter of the globe. It also produced the Cold War arms race, which became an intense competition between the two superpowers to accumul ate advanced military weapons. Hostility between the United States and the USSR had i... Free Essays on The Impact Of The Cold War On American Foreign Policy Free Essays on The Impact Of The Cold War On American Foreign Policy The Cold War emerged out of the post-World War II struggle between the United States (US) and its allies and the Union of Soviet Socialist Republics (USSR) and its allies. During the Cold War period, which lasted from the mid-1940s until the end of the 1980s, American foreign policy and international politics were heavily shaped by the intense rivalry between these two great blocs of power and the political ideologies they represented: democracy and capitalism in the case of the United States and its allies, and Communism in the case of the Soviet bloc. The principal allies of the United States during the Cold War included Britain, France, West Germany, Japan, and Canada. On the Soviet side were many of the countries of Eastern Europe- including Bulgaria, Czechoslovakia, Hungary, Poland, East Germany, and Romania- and, during parts of the Cold War, Cuba and China. American journalist Walter Lippmann first popularized the term cold war in a 1947 book by that name. By using the term, Lippmann meant to suggest that relations between the USSR and its World War II allies (primarily the United States, Britain, and France) had deteriorated to the point of war without the occurrence of actual warfare. Over the next few years, the emerging rivalry between these two camps hardened into a mutual and permanent preoccupation. It dominated the foreign policy agendas of both sides and led to the formation of two vast military alliances: the North Atlantic Treaty Organization (NATO), created by the Western powers in 1949; and the Soviet-dominated Warsaw Pact, established in 1955. Although centered originally in Europe, the Cold War enmity eventually drew the United States and the USSR into local conflicts in almost every quarter of the globe. It also produced the Cold War arms race, which became an intense competition between the two superpowers to accumul ate advanced military weapons. Hostility between the United States and the USSR had i...

Reedsys writing tool to change the way authors create books

Reedsys writing tool to change the way authors create books Today, Reedsy changes the way millions of authors will create books We are incredibly proud. After months of work, we are releasing the first version of the Reedsy Book Editor, a writing tool that will transform the way millions of authors create their books. It took thousands of hours, and countless iterations on design and code to create what we believe will disrupt the process of writing and producing books.Okay we’ve said enough. Now, showtime.The simplest yet most innovative way to create booksThe first thing we wanted to do was to create a great environment to write in. We didn’t want to replicate Microsoft Word’s awful interface and were inspired by the work the team at Medium did. We saw it as the way forward and designed a product that appears minimalistic but is in fact extremely powerful.To format a book, authors will only be using our style-guide toolbar. Here is what it looks like:– Matt (designer) and Emmanuel (visionary) of the Reedsy Book Editor, founders at Reedsy.A press release is available here.

EdTPA and Teacher Accountability Assignment Example | Topics and Well Written Essays - 250 words

EdTPA and Teacher Accountability - Assignment Example edTPA build more on the strong foundations that exist in the state to improve the teachers preparation process, it mainly focus on the teacher classroom engagement. Danielson rubric focuses more on individual student learning improvement; it has inefficient classroom routines and procedures. Secondly, edTPA accelerates the classroom preparedness for teachers while in the Danielson rubric, students are expected to follow set classroom routines within minimal guidance. Last but not least, edTPA cooperate teachers to share a common expectation for the experience maximization of student teaching and better understand and their role in the process of helping teachers successfully complete this learning process. On the other hand, Danielson rubric, interaction between teacher and students and among students is mostly negative or inappropriate. Teachers are only involved as guiders; therefore, students are expected to contribute more on their education. T he usage of video in learning is not a good approach to evaluate teachers’ performance sin this can only be used to cover a part where some seriousness is evident. In the Danielson rubric, assuming that students will follow every learning rules is not guaranteed, therefore regular teacher- student interaction is necessary to enhance student’s

Demographic transition model Essay Example | Topics and Well Written Essays - 750 words

Demographic transition model - Essay Example This paper focuses on demographic transition model and global food production and distribution for a growing human population to meet global food security goals. According to Wilson (2007, p. 33), the demographic transition model "Is a generalized model that describes how birth rates and death rates of human populations change over time". Starr, Evers and Starr (2014) conversely posits that demographic factors fluctuate such that developed nations are exemplified by low birth rates, low numbers of infant deaths, as well as a high life expectancy. These demographic factors are inverse in developing countries. In this regard, the demographic transition model, as spelt out by Wilson (2007), was developed by demographers from surveillance and scrutiny of researched and tested variations of birth and death rates of a number of countries over a span of two hundred years. As underscored by Wilson (2007), demographic transition model consist of four stages. The initial stage is referred to as high stationary stage and is characterized by elevated birth and death rates. At this stage, Wilson (2007) asserts that the population is generally low. High death rate at this stage is as a result of ill health, food shortage or deprivation, and warfare. Wilson (2007) further notes that birth rate at this initial stage is fairly even and therefore an increase or decrease of population is delineate by varying death rate. The second stage as outlined by Wilson (2007) is referred to as early expanding stage. This stage is characterized by an increase in population as a result of receding death rate coupled by a fairly elevated birth rate. The receding death rate in the second stage is contributed by improved food security and improved public health. Late expanding stage is the third step of the model. As elucidated by Wilson (2007), this phase is characterized by a n even and low death rate together with a decreased birth

Article Nisarg Essay Example for Free

Article Nisarg Essay SME stands for Small and Midsize enterprises. The definition defers from country to country. A business that maintains its revenue or employees below a certain standard is called an SME. The European definition for SMEs is â€Å"The businesses which have less than 250 employees and the annual revenue is less than 50 million euro (or annual balance sheet total less than 43 million euro) are called SMEs.† India has defined SMEs under Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. It says for a small sized enterprise the investment in plant and machinery should be between 25 lakh and 5 crore and for a medium sized enterprise it should be minimum 5 crore and should not exceed 10 crore. This definition is applicable to the enterprises which are in manufacturing sector. For the enterprises which render services, if the investment is between 10 lakh to 2 crore they are called small sized and if the investment is between 2 crore to 5 crore they are called medium sized enterprises. The SME sector has been of prime importance for India as it involves less capital investment and is highly labour intensive. It boasts of being second highest in providing employment and contributes to our goal of inclusive growth and equal distribution of resources. SMEs prompts private ownership, instils entrepreneur skills in the youth and establishes powerful market supply chain. The report published by Ministry of Small and Midsize Enterprise says around 45% of the total output and 40% of the total export of the country comes from SMEs by employing 106.1 million people over 26 million units in 2013. It contributes around 22% to the nation’s GDP. Now instead of discussing the past the immense potential ahead prompts me to throw some more lights on future of SMEs and how India can fulfil its â€Å"Make in India† dream through it. Now in the world of cut throat competition it is  very important that we use all the technological resources we have. The next generation is to be driven by innovations and technology. The initial development in our SME sector was the result of the government policy of promotion and protection of small business units. But now after 1991 reforms and in the era of globalization the small business units are open to extensive competition from small and big giants all over the world. Therefore it has become essential that India shifts from technology transfer to technology innovation. The recent research work published by BCG says if Indian SMEs adopt latest IT tools they could generate additional revenue of $56 billion and can add 1.1 million jobs. One such tool is cloud computing which has changed the way IT solutions are being delivered. Cloud computing can provide cheaper solutions as it adopts pay per use policy. It reduces total operation cost and total cost of ownership by alleviating the risk for the cash strapped SMEs. The cloud facility enables secure storage and transfer of data. As the maintenance and software up gradation is taken care by the service provider it saves the company’s time and resources. To improve our supply chain further we can use computerized tracking and shipping devices along with electronic billing systems. There are plenty of supply chain related mobile apps like MCSA, Mobile TMS applications, Mobile Solutions by SAP and Oracle products. With barcode scanning, speech recognition features, high quality digital cameras and other auto run instruments provide high class warehouse functioning. Let me give an example to exhibit that. John Deere used SmartOps software platform and helped equipment supplier increase it’s on time shipments dealers from 63% to 92%, while reducing inventory by nearly $1 billion. Here one more thing to note is that we are in 21st century but our electric grid is a 20th century structure. It is highly inefficient and may breakdown any time. In 2003 we observed east-coast wide black out in India. The first step to resolve the issue can be the use of Smart Meters. It can relay a range of information about electricity usage, can give utility and customers alike a real time picture of how much power they are using at any point in time. The electricity can be used efficiently at time when the overall demand is low and the meter helps in doing that. By doing so we are smoothing the demand curves of power plants and utilizing the current power plants fully instead  of establishing the new ones. Apart from that the SMEs can use technology to market their products on social media. There are many cost effective tools available like websites, blogs, emails etc. One of the most popular and heavily used such tool is Facebook. It provides facility of flexible budgeting and provision to target a highly specific audience as shown below. Along with all the benefits that we extract from our SMEs we must ensure that we don’t harm our environment and use green technology as much as we can. The e-waste produced by the enterprises have to be managed properly. CloudBlue, based in New Jersey, helps tech companies process their e-waste on the site as well. So in nutshell technology is the answer to the question posed by the harmful effects produced by the technology. Hence I think India must keep including SMEs in its five year plans and should highly focus on the use of technology and innovation to develop this sector. We must use our executive wing to make time to time reforms. If taken as national goal I am confident our poor and middle class will surely come out of mediocrity and contribute to the development of the nation and we will be able to drive this third global cycle of development along with China. References: en.wikipedia.org/wiki/Small_and_medium-sized_enterprises http://www.investopedia.com/terms/s/smallandmidsizeenterprises.asp msme.gov.in www.google.com www.facebook.com

Shakespeare - Tragic Heros Essay -- essays research papers

The name "tragic hero", which has become synonymous with Shakespearean dramas, was developed before Hamlet, Macbeth or any of Shakespeare’s well-known plays were written. The literary term was actually discovered around 330 BC by the ancient Greek philosopher Aristotle. Through his theory of catharsis, Aristotle debated that the great plays of Sophicles, Euripides, and other Greek playwrights contained tragic heroes similar to each other, which all portrayed four basic characteristics ("English Lit."). These qualities were a tragic flaw, or harmartia, they all were from a noble class, with very human personalities, and they all face their tragedy with dignity. It is not until the late 1500s that Shakespeare began to utilize Aristotle’s observations in the production of his many tragedies (Desjardens). Probably the most important characteristic of a Shakespearean tragic hero is that one must posses a tragic flaw, because without the flaw, there would never be a downfall. The ultimate flaw varies from one play to another, King Lear’s flaw is that of arrogance while Macbeth’s it one of ambition. Some characters may be guilty of harboring many flaws, like Othello. Among Othello’s wrongs are gullibility and stupidity. In either case, the character never realizes ones flaws until act five, however, by that time it is too late (Desjardens). While the tragic flaw is the key element in a tragedy, the tragic hero’s social status i...

Comerica Case Study Essay

The purpose of this paper is to recommend Jack to long the Comerica Incorporated (CMA) stock. In this paper we explain how banks operate and present a small back ground on the issue Comerica is facing. Then we more on to financial statements analysis of CMA, which does not present a very strong outlook of the company, but because of the financial crisis, whole industry is experiencing financial stress. Next, our valuation methods show that CMA is undervalued relative to its peers, and hence is a good company to invest in. BACKGROUND: Simply putting, banks accept deposits from public; keep some of those deposits with them and lend the rest to businesses and individuals. Businesses and individuals in turn pay interest on those loans and banks pay interest to depositors, making money from the spread. Nowadays banks operations have become more and more complicated, and hence more important to capital markets. To get in to more detail, banks’ profits come from the following several ways: Differences between Interest Rates on Loans and Deposits: As already explained Banks lend loans at the interest rates that are higher than the ones they pay for deposits. A large part of banks’ profits come from the spread between banks’ depositing and lending rates. Service Fees: Banks provide financial services to their clients and charge certain amount of fees. By charging fees for managing customers’ bank accounts and providing other financial services such as issuing letter of credits, banks create another source of income, known as noninterest income. Now banks’ services have also expanded into investment consulting and information disseminating. These services usually cost expensive fees. Financial Products: Banks provide financial products to help clients manage their property and generate noninterest income. A good example can be that banks sell mutual funds to their clients and gain income from both commissions and certain percentage of the funds’ returns. In addition, banks sometimes also act as  brokers and generate revenues from bid-ask spread. Investment: Some banks play an active role in venture capital industry. By making investments in promising small companies, banks earn the benefits like capital investors or buy-out funds do. In addition, banks can also explore profit opportunities within currency exchange market. Circulation Intermediary for Cash: Bank can boost the economy by reallocating idle money to investors who need money. Banks can gather the discrete money by absorbing deposit and then lend out loans, thereby increasing the liquidity of cash and thriving investment activities. Create Derivative Value: Because of banks, several times the value of original deposit is created. People save their money in banks, and banks lend the money out. New loans throughout the banking system generate new deposits elsewhere in the system. Thus new deposits are derived by the loan and create more sources of cash for banks to lend out. Payment Chains: Banks encourage the business between companies by managing the shift of funds through corporate accounts. Banks can also represent their clients to make payments and help their clients to honor cash. Comerica Incorporated (CMA), one of the 20-largest banks operating in America, has major operations in Midwest, California, Texas and Florida. Comerica operated under three business segments: the business bank, the retail bank and the wealth and institutional management. Due to the financial crisis of 2008, banks, especially ones with high exposure in mortgage related loans, were under a lot of stress. Comerica, being one of them, is being evaluated by the Jack, as a potential investment. CHARACTERISTICS OF CMA’s FINANCIAL HEALTH: Based on the financial statements provided and the Exhibit 5, we have outlined the main characteristics which define CMA’s financial health. Increase in Credit Loss Reserves: Credit loss provisions are the estimated loan losses from the current operating period, which means that company is not expecting to receive these loans back and hence expensing them out, by increasing the allowance for credit losses on balance sheet. There is a substantial increase in the company’s credit loss provisions for Comerica. The percentage of credit loss provisions to PBT plus credit losses skyrocketed, from 3.6 percent in 2006 to 66 percent in Jun 2008, indicating the Corporation’s tough situation in collecting the outstanding loans. Increase in Non-Performing Assets: Reserve coverage ratio, despite the increase in loss reserves, is decreasing dramatically, from 213% in 2006 to 87% in June 2008, indicating an enormous increase in non-performing assets (NPA). The main reason on increase in NPAs the fact that high percentage (32.9%) of company’s total loans is Real Estate loans. This is the reason that company’s interest income has decreased despite the increase in loans made in 2008. Efficiency ratio is basically an operating expense margin measure, the lower the better. The above 60 percent efficiency ratio, 50 percent generally regarded as optimal, is an indicator of company’s deteriorating performance. Use of Long Term and Short Term Debt to Finance Loans: Balance sheet show that Comerica’s total deposits are maintaining a level since 2005, however company’s net loans have increased by almost $10 Billion. Balance sheet clearly shows that these loans are finance from the increase in short-term and long term debt, which cast doubts on the profitability of company going forward. Unsustainability of the Dividend Pay-out Ratio: Exhibit 5 shows an increasing trend in the dividends, which Comerica has tried to maintain despite the low earnings. In the June 2008 quarter, company paid $99 Million as dividends against the net income of $56 Million during the same quarter. These levels of dividends are not sustainable in the current recessionary environment, and when the company does cut dividends, it will send a bad signal to the market. Downward Revision in the Federal Funds Rate: We noticed that spread, which equals to net interest expense as a % of earning assets minus net interest expense as a percentage of interest bearing liabilities, is decreasing. One of the reason of this phenomenon is that interest bearing deposits are increasing – which is bad for the company. Moreover, there has been a downward revision of 3.25 percent in the federal funds’ rate from its original level of 5.25% in July 2007, to 2.0% in 2008 – limiting the banks’ ability to charge higher spreads. Moreover, commercial loans are predominantly floating rate, so decrease in the Federal Funds rate will affect company’s interest income. We do think that decrease in the Fed’s rate will increase the demand for loans but given the credit crunch, it seems unreasonable in the short run. Decrease in Interest Income Percentage Measures: The shrinkage of interest income can be obviously seen from the Corporation’s net interest income as a percentage of earning assets, from 6.82% in 2007 to 4.86% by the end June 2008. This decrease is due to both factors of the ratio, one interest income is decreasing, secondly earning assets for Comerica Inc., which is loans, investment securities available-for-sale and short-term investments are increasing. Moreover, net interest margin, which is calculated as a difference between net interest income and net interest expenses divided by earning assets, show a downward trend. VALUATION: To value Comerica, we have used both methods Jack is planning to use. We will first do the sensitivity analysis (Exhibit 7 in the case) to find the range of tangible book value, earnings and dividends. Using that sensitivity analysis table, we will find the range of firm’s value employing comparable and dividend discount models. Sensitivity Analysis: In the Exhibit 7 at the end of the case, we have already been given the existing quarterly earnings estimates and tangible book value at the end of 2009. Those estimates are based on charge-off ratio of 0.85%. We have completed the sensitivity analysis based on the following assumptions: †¢Percentage of charge off is annual, and dollar value of the charge off will be distributed over each quarter equally. †¢Company’s charge-off ratio taken in 2008 will continue to be the same in 2009. We think this is a  reasonable assumption because of current low reserves for credit losses to NPA ratio of Comerica, as compared to its peers. †¢Company will maintain a certain level of allowance of loan losses. Therefore any increase in percentage of charge off will translate to decrease in tangible book value of the company through the income statement. †¢Dividends are taken to be 48% of earnings in case of positive net income and zero in case of negative net income. Company is trying hard to keep the level of dividends constants, to avoid sending bad signals. But company will not be able to sustain this level of dividends, so it will revert to the historical average of 48% dividend payout ratio (Exhibit – 1). Using these assumptions, we get the range of tangible book value, at the end of 2009, of $5,247 Million in case of 0.85% charge off to $4,647 Million in case of 2% charge-off. Detailed calculations are provided in the Exhibit – 2. Comparable Method: We have chosen two multiples to value Comerica i.e price to tangible book value and price to earnings ratio. Since, due to the current financial crisis, earnings of the companies are very volatile, we think price to tangible book value is a better multiple. Therefore, we will use price to earnings ratio just as a check multiple. Now that we have decided which multiples to use, we need to assign weights to the comparable companies to find out the weighted average multiples. To assign weights, we considered the following factors in terms of similarity between Comerica and comparable companies. †¢Geological location of the operations †¢Percentage of loans from different business segments †¢Financials – Including total revenue break up, return on equity and assets, reserves for loan losses to total loan and total NPAs etc. Based on these weights assigned we calculated the comparable weighted average of the price to tangible book value ratio and price to earnings ratio. Following table summarizes values calculated by both the methods and their sensitivity to the charge-off percentage. Detailed calculations are given in Exhibit – 2 and 3. As we mentioned before, earnings are very volatile right now and are suppressed because of the financial crisis. So we think price to tangible  book value is a better measure of company’s intrinsic value. Therefore we think, company is undervalued right now and hence Jack should propose to long its stock. Dividend Discount Model (DDM): We have also used DDM to find the intrinsic value of the company. We think that company will not be able to sustain its dividends of $0.66 per share per quarter in the short run. However, by year 2010 company will have enough earnings to come back to its previous level. Keeping in mind the fact that company has been growing its dividend payout ratio, and earning are also expected to increase in the long run; we have assumed that company’s dividends will grow at the rate of 2% in perpetuity. Using these assumption, and cost of equity 8.8%, dividend discount model gives us the share price of $40.39 per share, which also indicates that company is undervalued right now. Detailed calculations are provided in Exhibit 4. FUTURE INDUSTRY OUTLOOK: The collapse of mortgage market has taught financial industry an expensive lesson, making a lot of financial institutions unable to fully recover even till now. One of the major factors that cause a lot of banks’ failure and bankruptcy during financial crisis is the banks’ overconfidence in real estate market and issuing huge amount of new debt without the checking credit quality of borrowers. After the financial crisis, banks have become very cautious when dealing with mortgage related loans. Requirements regarding borrowers’ personal incomes and documentation have been considered necessary and valuation process about mortgages has gone very conservative. Facing the illiquidity during the financial crisis, banks are required to improve their capital bases to improve their insolvency. One regulation from Base III incorporates a significant expansion in risk coverage and introduces modified ways to calculate risk-based capital. Moreover, complex hybrid capital ins truments, which used to be considered as a part of banks’ equity, has been exclude from banks’ equity calculation. Base III also puts increasing focus and emphasis on banks to acquire common equity that can be quickly cashed out when facing unexpected situation. The enactment of Base III and the self-improvement happening in the banking industry or, even broader, financial industry have made bank valuation focus more on bank’s  traditional originate-to-hold business, and associated bank’s securitization activities with higher risk. Increasing focus has also been put on a bank’s capital base, which has everything to do with a bank’s solvency and liquidity. Banks, whose equities have complex hybrid equity capital instruments, tend to be less liquid and have higher business risk. Funding source is another factor considered. Banks with less retail funding on their balance sheets are more vulnerable when unexpected situations happen. Loan quality, which had been largely neglected when everyone had big overconfidence to housing market before the burst of the financial cris is, has been brought back to the ‘valuation table’ and greatly reemphasized. These improvements in the regulatory requirements have restored the confidence of investors in the banking industry to some extent. That’s why we see the financial industry raising to the level where it was before the financial crisis. CONCLUSION: Financial statements analysis of CMA does not present a very pretty picture, but because of the financial crisis, whole industry is under stress and experiencing the same deterioration in the quality of earnings. However, our valuation methods show that CMA is undervalued relative to its peer companies and hence is a good investment to hold right now.

Materials of Logistics in Management Essay

The efficiency of any manufacturing organisation depends on the availability of component parts and materials in the proper quantity, quality, price, range and time. Failure in any of these areas increases costs and decreases profit as certainly as outmoded production methods or ineffective selling techniques. This simple but obvious point has only recently come to be properly understood. This book presents the principles, methods and strategies that represent the modern approach to materials management in all sectors of the economy. In analysing business operations, the phrase â€Å"Value-added concept1†² is often used to characterise the difference between the cost of component materials and the selling price of the finished product. This difference in value represents the unique contribution of each organisation to the production process. Many companies produce component parts and materials for other firms manufacturing specialised products Remanded by the customers. On an average, a manufacturing firm buys slightly more than half of the rupee value of its sales. In other words, the value added is typically less than 50 per cent of its sales. Conversely, the average company purchases materials valued at more than half of what it sells. Therefore, a firm’s profit is to a large extent determined by how effectively it procures and manages these materials. The organisational approach known as materials management has gained validity in recent years. Production and operations managers found it necessary to develop an organised body of knowledge related to planning, acquisition and utilisation of materials in the process of production and it has resulted in the discipline known as â€Å"mate-rials management†. All activities involved in bringing materials into and through the plant are combined under one head known as â€Å"materials manager†. By giving the materials manager overall authority, responsibility is centralised to assure that the overall cost of materials is kept at the low’est possible level. The basic rationale for this organisational change is to overcome the problems of conflicting objectives. For cample, purchase department’s concern to ensure continuous supply of component materials may conflict with he inventory control department’s objective to minimise inventory levels or the objective of shipping in full car load lots. Today organisations view procurement as a professional activity including activities involved in obtaining materials at minimum cost, transporting them and providing storage and moving toward the production process. It also includes economic analysis of supply (i. e. , purchase economics), demand and prices and the assessment of international events that affect materials. * evolution of materials management Historically, the five ‘M’s of manufacturing firms viz. Men, Materials, Machines, Money and Methods have shifted their positions from time to time in their relative importance. In the early days of industrialization, the focus was on men (labour) as they were the main source of productive power. Over a period of time, the emphasis shifted towards machines, which became the main source of industrial power after the Industrial Revolution. As the methods of production became more and more complex due to the increased customer demand for sophisticated products of high quality, there was greater need of efficient management to manage the complex production systems. In the early 1920s, purchasing and maintaining stock of materials was the responsibility of purchasing managers or â€Å"chief controllers of purchasing and stores† in many industries. During and immediately after World War II the focus shifted on various functions associated with materials such as purchasing, receiving, inspecting, storing, preserving, handling, issuing, accounting, transporting and disposing surplus and obsolete materials. These functions grouped under one common head known as materials manager and the department responsible for all these activities came to be known as â€Å"materials management department†. But the head of materials management department performed a staff function to support the production department and had to report to the production head (director of production) in the organizational hierarchy. The oil crisis of the 1970’s changed the priorities of industries all over the world. The exorbitant hike in oil prices and the heavy budget allocations on oil made the industries to control their expenditure on the inputs, mainly materials of all kinds because of the large scope to reduce the expenses on materials. Since the beginning of 20th century, materials have been getting more and more attention and will continue to do so in the future also. Now a days material has* become an important and inevitable input of a production system since the cost of materials and cost on materials (cost incurred in purchasing and storing the materials) put together account for 50 to 85% of the production cost depending on the nature of the product and the type of the production system. Modern manufacturing organisations adopted systems approach to management, which resulted in the integrated materials management concept. All functions related to materials such as materials planning, purchasing, storing and inventory control were integrated under materials management function. The position of the head of the integrated materials management department was elevated to be on par with heads of other functional areas viz. production, finance and human resources. * importance of materials in manufacturing organisations Materials are any commodities used directly or indirectly in producing a product or service such as raw materials, component parts, assemblies and supplies. In the manufacturing organisations, the important inputs are referred to as 5 Ms viz. Men (Labour), Machines, Money, Materials and Methods. The relative importance among these five Ms have shifted from time to time. In the beginning of industrialisation the focus was on machines, men (labour) and methods, but from around 1970 onwards the emphasis is on materials. Material is an important and inevitable input gi J production system since the cost of materials and cost on materials (cost incurred in purchasing and storing the materials) put together account for 50 to 85’* of the production cost depending on the nature of the product and the type of the production system * importance of materials management Management of materials in most organisations is crucial to their success because the cost of purchasing, storing, moving and shipping materials account for over half of the product’s cost. Improving productivity is a crucial factor in facing the challenge of competition and this involves driving down the cost of all aspects of business activities. Since there is maximum scope of cost reduction in the area of materials, doing the job of efficient and effective management of materials is seen as the key to higher productivity.

7 Simple Strategies for Teaching Math to Kids

7 Simple Strategies for Teaching Math to Kids Teaching math to your children is as easy as 112. Go beyond pencil and paper to make math a learning experience thats fun for you and your kids. These quick and easy strategies help you teach your kids math and will turn them into mini mathematicians. Start With Counting Teaching math begins with your child knowing numbers. You can help them learn to count with the same strategies youll be using to teach them math. Children may respond better to memorizing numbers you repeat or may pick up numbers by seeing you count objects from one to ten. A method that may work for one of your children might not be right for another. Gauge each child individually. Once your child begins counting, youre ready to start with some basic math principles. Theyll be adding and subtracting before you know it. Use Everyday Objects You already have everything you need to begin teaching math to your child. Buttons, pennies, money, books, fruit, soup cans, trees, cars - you can count the objects you have available. Math is easy to teach when you look at all of the physical objects you can count, add, subtract, and multiply. Everyday objects also help you teach your child that objects dont have to be identical to be important in math. Counting apples is a great math lesson, but counting apples, oranges, and watermelons together expands the thought process. The child is connecting counting with various objects, instead of running through a routine numbers game of 1, 2, 3. Play Math Games There are plenty of games on the market that promise to aid you in teaching math. Hi Ho Cherry-O and adding dice teach simple addition. The game Chutes and Ladders introduces children to the numbers 1 to 100. Advanced math board games come and go, so check stores for todays hot games. Classics like Yahtzee, PayDay, Life, and Monopoly are always good resources for addition and subtraction. Some of the best math games come from your own imagination. Play a math scavenger hunt. Use chalk to scribble numbers on the driveway and quiz your kids with math questions they have to answer by running to the correct number. Begin basic counting skills with blocks. Math can become an activity they enjoy rather than an educational drill. Bake Cookies Soft cookies make excellent teaching tools. While you can count the cookies you bake for simple math, a fresh batch is also perfect for teaching fractions. With a plastic knife, kids can learn how to cut a cookie into eighths, fourths, and halves. The act of visually seeing a fourth created as well as them getting to cut that whole into fourths makes an impression in a childs mind. Use those small cookie pieces to teach your child how to add and subtract fractions. For example, 1/4 of a cookie 1/4 of a cookie 1/2 of a cookie. Put the pieces together so they can see the cookie half. An alternative to baking cookies is to use raw cookie dough or make your own play-dough. Of course, you cant eat your fractions when youre finished learning math, but you can reuse the cookie dough or molding clay. Invest in an Abacus Even the smallest hands love sliding abacus beads back and forth along the wire. An abacus can be used to teach kids addition, subtraction, multiplication, and division. With an abacus, kids develop problem-solving skills. Theres a logic behind using an abacus, so be sure you know what group of numbers each colored bead represents to accurately use it. Test Flash Cards Flashcards can show you what 22 equals, but letting kids get hands-on experience with counting may work better. Evaluate your childs learning preferences by trying both flashcards and hands-on experience. Some children learn better by seeing the answer on a card or counting pictures on a card. Others wont truly get the concept of math until you let them count physical objects. Mix up your math lessons to see which method seems to be working best for your child. Make Math a Daily Activity Use math in your day-to-day routine. Help your child get the most out of your math lessons when you incorporate it into your daily life while setting goals they can achieve. At a red light, how many blue cars do you see?At the grocery store, how many boxes of crackers could we buy if we only have $10?At the doctors office, how many kids will be left in the waiting room when three are called to the back?If we only ate 1/4 of our lunch, how much would we have left?How much will diapers cost if theyre 25 percent off?On the freeway, how much do the numbers on the license plate in front of us add up to?How many shirts are you putting into the washing machine?If you need to divide eight quarters among four people at the arcade, how many quarters would each person get? Once you show your child how much fun math can be, they will gain enthusiasm about learning that you can apply to other subjects. Once children enjoy learning, theres no stopping them.

Analysis of Dubai’s Economy

Analysis of Dubais Economy Dubai’s Financial Crisis: Dubai is usually characterized by sky piercing towers, rotating buildings, spectacular architectural designs, flow of petro-dollars which refers to the income coming from exporting oil and its products to other countries, broad and clean road networks, etc. It represents a face of modernization and advancement and has earned a place amongst one of the most technically advanced countries in the world. This rapid development of the country was a result of the focus of the government on tourism thus promoting the real estate sector with the help of revenues coming from export of oil and natural gas. With the largest real estate company of Dubai Emaar properties becoming bankrupt in the United States and vaDubai proposal to delay the repayment of all its debt’s for a period of 6 months on November 26, 2009 the financial crisis in Dubai was exposed in front of the world which had bad effects on countries around the world. The debts were as large as $59 billion causing a stop to the investment cycle of Dubai for 6 months. The Dubai’s real estate industry was based on huge loans which they expected to pay through the revenues they earn from them but with recession hitting the industry badly their plans failed. Thus the Dubai’s financial crisis to a large extent can be said to be a consequence of real estate bubble burst in Dubai. Dubai’s Economy: Before getting to the financial crisis it is important to know the structure of the Dubai’s economy which is one of the most unique and unusual in the world. It is divided into free zones setup by the government of Dubai. The zones are industry specific with Jebel Ali free zone being the fastest growing in the world. The Jebel Ali free zone offers a set of products and services such as: ready to use offices, Business centers, factories, Warehouses, infrastructure ready plots etc. Jebel Ali free zone commonly referred to as Jafza is a part of Dubai based; a s tate owned Economic Zones World. It is one of the world’s biggest developers of Economic Zones, Logistics and Research and development driven Industrial Parks. The main free zones of Dubai are Jebel Ali free zone, Dubai Internet City, Dubai Media City, and Dubai Maritime City which are based on the industries they are related with. People have false misconception about Dubai’s economy they believe that it’s mainly driven by oil and gas although the oil sector comprises of less than 6% economy of Dubai that was primarily dependent on oil as a main source of revenue in the past. Dubai being a part of the United Arab Emirates is expected to be great producer of oil, petroleum and natural gas although it is a good producer but compared to other countries of the United Arab Emirates it produces relatively lesser quantities of oil. Dubai produces 240,000 barrels of oil per day and its revenues from natural gas constitute only 2% of the total revenue that United Arab E mirates gets from natural gas. Although it is true that Dubai’s economy was initially build on the revenues generated by its reserves of oil and natural gas but with time it’s oil reserves have reduced significantly as a result of a large increase in the demand for oil and oil products around the world and over the years and Dubai exporting a great amount of oil to other countries it is expected that Dubai’s reserves of oil will get exhausted in the next 20 years and so it has concentrated on the tourism industry to generate good revenues at that time. (Dubai hit hard)

Critical note Assignment Example | Topics and Well Written Essays - 250 words

Critical note - Assignment Example Cultural imperialism is giving rise to a global culture where people from all countries would share the same cultural norms and values. Although cultural imperialism is forming a global culture but it is affecting the cultures of many countries. International companies are influencing almost every aspect of the cultures of other countries, such as, food, dress, music, and education. If we take example of food, we can say that international companies have already influenced the food selection of the people of many cultures. For example, Kentucky Fried Chicken and McDonalds have become two of the main food brands in many countries ranging from America to Asia and from Middle East to Europe. Similarly, pop music has already taken its place in the music industries of many countries. Moreover, western dresses, such as, Jeans and skirts are becoming more and more common in many of the Islamic countries. Looking at these examples, we can say that international companies are really playing the role of cultural change