Canon Marketing Plan - 10211 Words

Canon MARKETING PLAN April 15th 2012 Table of Contents Statement of Confidentiality Non-Disclosure 3 EXECUTIVE SUMMARY 4 1. SITUATION ANALYSIS 5 1.1 Industry Analysis 5 1.2 Sales Analysis 6 1.3 Competitive Analysis 8 1.4 Customer Analysis 11 1.5 SWOT Analysis 11 2. OBJECTIVES 12 2.1 Corporate Objectives 12 2.2 Marketing Objectives 12 3.1 Market Segmentation Strategy 13 3.2 Targeting Strategy 13 3.3 Product Life Cycle 14 3.4 Potential Strategies 14 3.5 Core Strategy 15 4. MARKETING PROGRAMS 17 4.1 Marketing Mix 17 4.2 Loyalty Programs 20 4.3 Customer Service Support 20 4.4 Market Research 20 4.5†¦show more content†¦Advanced Smart AUTO now identifies 28 shooting scenes, making automatic shooting even more intelligent. 4. Shoot slow motion video with the Super Slow Motion Movie function and playback at 30 fps. 5. High-Speed Burst mode for capturing sports and action shots. 6. Cool new features like Best Image Selection and Handheld Night Scene, give you greater flexibility when shooting your favorite images. We select the followings as our target markets: 1. The young who have received higher education, and are interested in new technology innovation, as well as pursue individualistic. 2. The middle-aged people(always the female), who have established their occupation and their social status. They purchase digital camera mainly to record their daily life. Distribution channel is the link connecting manufacturers and consumers; Canon is beginning with channel flat to quickly increase market share in China. We select one-level selling method which means that directly through the agents or retailers delivering superior service to consumers. 1. SITUATION ANALYSIS 1.1 Industry Analysis 1.1.1 Market Characteristics Canon has occupied nearly half of the Chinese digital camera market with appropriate 14.5% market share. And our target market China, as a large population of more than 1.3 billion, is developing rapidly recent years. There is no doubt for Canon continuing to regard the large Chinese market as a main potential developmentShow MoreRelatedCanon Marketing Plan10220 Words   |  41 PagesCanon MARKETING PLAN April 15th 2012 Table of Contents Statement of Confidentiality Non-Disclosure 3 EXECUTIVE SUMMARY 4 1. SITUATION ANALYSIS 5 1.1 Industry Analysis 5 1.2 Sales Analysis 6 1.3 Competitive Analysis 8 1.4 Customer Analysis 11 1.5 SWOT Analysis 11 2. OBJECTIVES 12 2.1 Corporate Objectives 12 2.2 Marketing Objectives 12 3.1 Market Segmentation Strategy 13 3.2 Targeting Strategy 13 3.3 Product Life Cycle 14 3.4 PotentialRead MoreThe Role of Situation Analysis for a Marketing Plan1485 Words   |  6 PagesSituation analysis becomes increasing important for a marketing plan development. This essay aims to explain why it is so important and what factors it focus on and finally, a guild list is present and justify for the construction of an effective situation analysis for a Marketing Plan of J Boag Son Brewery. Analyzing situation prior a strategic decision is critical for generating or sustaining competitive advantages, especially when facing the dynamic environmental trend which can affect corporations’Read MoreCompany Description Of Canon Inc. Essay1418 Words   |  6 Pages1. Company Description 1.1 Introduction: Canon Inc. is a multinational corporation which is founded on August 10, 1937 and headquartered in Tokyo, Japan. The Chairman and CEO of the company is Fujio Mitarai and the founders are Takeshi Mitarai, Goro Yoshida, Saburo Uchida and Takeo Maeda. They are specialized in the manufacturing of imaging and optical products like cameras, camcorders, printers, photocopiers, steppers and medical equipment. As of December 31, 2013 Company recorded 26,114 employeesRead MoreCanon Business Analysis1340 Words   |  6 PagesCase Study: Canon - Competing on Capabilities Introduction In 1925, a German camera maker named Oskar Barnack, developed a new, ground-breaking camera called the Leica. It was not until 1933 that a company responded to the success of Barnack’s creation and produced their own 35 millimeter version of his innovative design. Thus was born the Canon Company. By the 1950’s, Canon attained the title of leading producer of cameras in Japan. Since that time, Canon has made it a point to expand and diversifyRead MoreHow Canon Created The Sustainable Competitive Advantages Based On Resource Based View1603 Words   |  7 Pagessituation, but also a useful tool for managers to have better strategies for future growth (Grant, 2013, 112-113). Canon is an extraordinary example of using the resources and capabilities theory to contribute its success. Producing a new product and promoting in the market successfully while Xerox is a strong competitor is extremely difficult. Originally a small organisation, now Canon has become the second largest copier distributor with revenue of $5 billion (C1038). However, managing resourcesRead MoreValue Chain for Canon Cameras1250 Words   |  5 PagesPrimary Value-Adding Activities for Canon  Part 1 (Person C) As we can see from the complete value chain above, the primary value adding activities consist of inbound logistics, operations, outbound logistics, marketing and sales and service. For the purposes of this analysis, the value chain for Canon’s digital cameras will be isolated from other company divisions for analysis. Inbound Logistics Most of Canon’s manufacturing subsidiaries related to the production of their cameras are locatedRead MoreCanon Xerox Marketing Strategy 1970s1473 Words   |  6 PagesMarketing Case Study Reoport - Canon The report analyses the success factors of Canons business during their globalization in 1960s and 1970s, then next discusses the recommendation for Xerox to combat Canon. The report consists of the following sections. • Background of the Company Ââ€" history / products • Canon Strategy • Strengths of Canon • Weaknesses of Canon • Introduction to Xerox • Xerox Strategy • Recommendations for Xerox Background of the Company Canon started its business as a cameraRead MoreSwot Analysis of Canon Inc.1106 Words   |  5 PagesSWOT Analysis of Canon SWOT stands for Strengths, Weaknesses, Opportunities and Threats, and is an important tool often used to highlight where a business or organisation is, and where it could be in the future. It looks at internal factors, the strengths and weaknesses of a business, and external factors, the opportunities and threats facing the business. The process can give you on overview of where the business, and the environment it operates in, is strategically. This is an important, yet toRead MoreCanon Business Case2082 Words   |  9 PagesAnalysis 3. Canon Hybrid DSLR Features 3.1 Introduction to the new product 3.2 Marketing objectives 4. Market Segmentation 4.1Consumer Market Segmentation 4.2 Marketing mix 4.2.1Product 4.2.2 Pricing Strategy 4.2.3 Distribution Strategy 4.2.4Promotional Strategy 5. Financial information 5.1 Budget 5.2 Sales Projections 6. Reference 7. Appendix Executive Summary The corporate objective is to make Canon a truly excellentRead MoreUBTKM 1013 OCT Tutorial Questions1058 Words   |  5 Pagesï » ¿MARKETING TUTORIAL Tutorial 1 To discuss administrative issues and general discussion about unit plan, marketing concepts, study method with students. Tutorial 2 (Chapter 1) 1. Explain the concept of marketing. What are some common misconceptions about marketing? 2. Describe the significance of the shift from transaction-based marketing to relationship marketing. When does relationship building begin? 3. Define marketing myopia, and describe how a company can overcome a myopic view. Give

Research Paper On Legislative Branch Law Making - 881 Words

That is a very good question do Russia, Iran, and north Korea under think our branch for our executive branch power on legislative branch law making. I do believe so because it is showing that one person can say yes to this certain law that this branch wants but if the other branch doesn’t want it they can veto it, so it will not become a law. President Trump has signed the new law sanctions against Russia, Iran, and North Korea but he couldn’t even deny signing it even if he wanted to. Like for example â€Å"The president is required to notify Congress before making any alterations to Russia sanctions policy, and lawmakers then have 30 days in which they can block the president from implementing those changes. â€Å"So, as you see even if the†¦show more content†¦When Mexico sending its people, they are not sending their best...They are bringing drugs, they are bringing crime, they are rapist. And some, I assume are good people. This saying by our presiden t is just outrageous that is why Im kind of glad that he doesnt have full total control over ever last thing because as a president he need to be willing and ok with every single state, and country because he is representing the entire country of The United States so when other countries see us they see our president and would believe we all just like him. And that’s definitely not the case because each person in America is very different and do not act like that man. This will probably mess up the country way more than one because what if the country goes through depression or some even worse like another World War and no other country would want to help us in that time of need because on what the president may have said. Definitely Mexico will not want to help and there one of our greatest allies because our agreement in the North American Free Trade Agreement (NAFTA). Now as you see my point of view of the whole entire situation. I do support that the legislation can possibly veto proof any kind of bill that President Trump may have wanted so he doesn’t have all theShow MoreRelatedThe Role of Government in Policy-Making781 Words   |  4 PagesThe Role of Government in Policy-Making Holly Regan HSM/240 January 26, 2014 Terra Harris The Role of Government in Policy-Making There are three branches of government established by the U.S. Constitution which are: the legislative branch, executive branch, and the judicial branch. The purpose for these three branches of government is to establish the individual and combined powers of each branch, while reserving the rights of each individual state in the union, (Buzzle, 2014. The outlineRead MoreEssay on The Creation of Public Policy1178 Words   |  5 Pages This paper is about how our government forms and decides to create public policy through the interaction of the branches, the influence of political parties, and the effects of media. So what is public policy? Public policy is the action taken by the government to make changes for the better. As the paper goes on one will learn about this even further throughout it. When dealing with public policy and how it is created one must know how the idea is even brought up and put into motion. AnyoneRead MoreHow The Iroquois Confederacy Helped Shape The New Law Of The Land Back1089 Words   |  5 PagesAmerican government is ran today were all ideas brought from where ever the â€Å"Americans† came from? Very possible, but in a recent conversation with a peer who was helping me come up with a great topic for this research paper we came across the topic of how the Iroquois Confederacy helped shape the new law of the land back in the 1700s when the constitution was written in Independence Hall in Philadelphia (history.com). What is the Iroquois Confederacy? The Iroquois confederacy or the League of IroquoisRead MoreBranches Of Government And What They Do1341 Words   |  6 Pages3 Branches Research Paper In this paper I’m going to explain to you the branches of government and what they do and how they function. To begin, The Separation of powers plays a role in the branches of government in which it helps it run smoothly, no one gets too much of power, and everyone is responsible for their job. Now I’ll start with the legislative branch. The legislative branch is the branch of government that has the power to make the laws, it is also made up of two houses, the SenateRead MoreThe Branches Of Government And The Legal System1652 Words   |  7 Pages The Branches of Government HRM 322 Raniesha Battle University of Mount Olive Abstract In this research paper, my goal is to explain how legislative, regulatory, and judicial systems work to define the equal employment opportunity. This will be better for managers in human resources who can better manage their workers by following and using the legal system. If human resource managers enforce the legal system in the workplace effectively they will have a competitive advantage. An enforcementRead MoreAnalyzing Mexico And United States:. History, Political1432 Words   |  6 Pagesthe United States of America through the establishment of the Treaty of Guadalupe Hidalgo. The Treaty of Guadalupe Hidalgo ended the war, and Texas moved separating itself from Mexico.  The Constitution of Mexico establishes a social reform on labor laws and provides a free and even social or political culture, promises the return of lands to the native people, separates church and state, and promises a stable and consistent economic and educational reforms(history.com Staff, 2010). The cre ation ofRead MorePolicy Analysis Of The Affordable Care Law1445 Words   |  6 PagesAFFORDABLE CARE LAW Healthcare policy analysis has been a debate for citizens and government officials. The policy was initiated as a start to healthcare reform in the U.S. Initiated in 2010, by President Barack Obama the Affordable Care Act (ACA) was on its way to redeveloping the function of the healthcare field. The ACA puts people, families, and businesses in charge of their healthcare. All three branches (Legislative, Judicial, and Executive) had a part of the creation of the law and experiencedRead MoreRussian And American Political Systems1572 Words   |  7 PagesPOLS 3190 - Research Paper for Group Presentation 3/3/2015 Russian and American Political Systems in Comparative Perspective Russian and American political systems are alike in the perspective of comparison. Both governments provide a framework for three branches of government: the executive, the legislative, and judicial. Both countries also have a bicameral legislature as well as separate elections of the legislature and the executive branch. Both countries are the lead legislative body. ThereRead MoreThe Three Branches Research Paper2014 Words   |  9 PagesThe Three Branches Research Paper To start off I will be talking about the Legislative Branch. And the definition of the Legislative branch is: the part of the United States government that creates laws. Whenever you read about congress people in the Senate or House debating a law, you re reading about the legislative branch: the branch of the government that writes, debates, and passes laws. Making laws can be called legislating. First is how the Legislative branch uses the checks and balancesRead MoreEssay Greek and Roman Governments772 Words   |  4 Pagesdemocratic and Roman republic governments each had their own positive and negative aspects making them similar, yet exclusively different. Both have had tremendous influences on governments in our modern world. Rome was a republic where the leaders were chosen through voting, while Greece practiced a more direct democracy in which the citizens participated in the crucial decision-making within the government. This paper will attempt to diagnose the fundame ntal similarities of each government coupled with

Informal Speech Outline Free Essays

First Man in Space Topic: Yuri Gagarin General Purpose: To inform Specific Purpose: To inform my audience about first man who escaped Earth’s gravity and appeared in space. Thesis: Gagarin was to be the very first man being in space. Introduction Attention Getter: What would you think if I ask who was the first man in space? First idea is Neil Armstrong? Isn’t it? But what if I say that there was cosmonaut from Soviet Union who traveled in space one year earlier? Significance of Topic: Sounds not familiar? Soviet cosmonaut Yuri Gagarin made history on April 12, 1961 when he became both the first person in the world to enter space and the first person to orbit the Earth. We will write a custom essay sample on Informal Speech Outline or any similar topic only for you Order Now Establishment of Ethos: Since childhood, this man was a hero of mine that’s why I decided to investigate his biography more detailed. Thesis: Gagarin was to be the very first man being in space. Preview Statement: So today we will go on tour to the spacecraft and take a look at Yuri Gagarin’s life background, his road in becoming a cosmonaut, and the historic flight itself. (Transition: So let’s start our trip by finding out Yuri Gagarin’s life background. Body I. According to article â€Å"Life and Death of Yuri Gagarin† published in Engineering and Technology magazine on April 2011, Yuri Gagarin was born in March 9, 1934 in a small village west of Moscow in Russia (then known as the Soviet Union). Yuri was the third of four children and spent his childhood on a collective farm where his father, Alexey Gagarin, worked as a carpenter and bricklayer and his mother, Anna Gagarina, worked as a milkmaid. A. Like millions of people in the Soviet Union, the Gagarin family suffered during Nazi occupation in World War II. After a German officer took over their ouse, the family constructed a small mud hut where they spent a year and nine months until the end of the occupation. 1. Life was difficult during the war and the Gagarins were kicked out of their home and moved to another city. B. When Yuri was fifteen he entered a vocational trail and learned to be a metalworker. 1. In two years as the best student he was sent to continue his study to Saratov high technical school. a. While studying there, he joined the Aero Club where he trained to fly an aircraft. b. This hobby predetermined his future charge; Gagarin decided to devote his life to aviation. C. In 1955 he enrolled into the Russian Air Force and two years afterwards graduated with honors from the Soviet Air Force Academy. 1. However, while Gagarin enjoyed being a fighter pilot, what he really wanted to do was to go to space. a. Since he had been following the Soviet Union’s progress in space flight, he was confident that soon they would be sending a man into space. b. He wanted to be that man. (Transition: Now that we know life background of Yuri Gagarin, lets move to a how Yuri became a cosmonaut. ) II. His desire was so strong that in 1960 he applied to be a cosmonaut. A. According to â€Å"First man in space† published in About. com on May 5,2010, Yuri Gagarin was just one of 3,000 applicants to be the first Soviet cosmonaut. 1. Out of this large amount of applicants, just 20 were chosen and Gagarin was one of the 20. B. During the extensive physical and psychological testing required of the chosen cosmonaut trainees, Gagarin excelled at the tests while maintaining a calm behavior as well as his sense of humor and readiness to the upcoming flight. 1. Later, Gagarin would be chosen to be the first man into space because of these skills. (Transition: Now lets take a look at the historic flight itself) III. So on April 12, 1961, Yuri Gagarin boarded Vostok 1 (the name of the spaceship) at the Baikonur Cosmodrome located in Kazakhstan. A. Although he was fully trained for the mission, but no one knew if it was going to be a success or a failure. Gagarin was to be the very first human being in space, truly going where no man had gone before. B. Gagarin was rocketed into space, using an automated system. 1. Gagarin was not given the control to the spacecraft during his mission because scientists were worried about the psychological effects of being in space; it wasn’t discovered by that time. C. After entering space, Gagarin completed a single orbit around Earth. The spaceship’s top speed reached 17,600 miles per hour. At the end of the orbit, spaceship reentered the Earth’s atmosphere. 1. Gagarin was in space exactly 108 minutes circled the entire globe. 2. Right before he landed, a farmer and her daughter spotted Gagarin floating down with his parachute. a. Once on the ground, Gagarin, dressed in an orange spacesuit and wearing a large white helmet, Gagarin terrified two women and it took him a few minutes to convince them that he is a human, not an alien and to direct him to the nearest phone. D. For this accomplishment Gagarin was awarded medal and title hero of Soviet Union. 1. Yuri Gagarin’s successful flight into space paved the way for all future space exploration. Conclusion Summary Statement: So, now you know a life background of Yuri Gagarin, his road in becoming a cosmonaut and his historic flight. References Bizony, Piers, (April, 2011). Life and Death of Yuri Gagarin. Engineering Technology. 31 (2), pp. 35-37 Rosenberg, Jennifer (May 5, 2010). The First Man in Space. Available at: http://history1900s. about. com/od/1960s/a/yurigagarin. htm. Last Accessed March 15, 2013. How to cite Informal Speech Outline, Papers

Bhel Report free essay sample

COMPANY PROFILE †¢Background Management †¢Values, Mission Objective †¢BHEL’s product profile †¢Financial profile of BHEL †¢Shareholding pattern BHEL AN OVERVIEW BHEL is the largest engineering and manufacturing enterprise in India in the energy related infrastructure sector today. BHEL was established more than 40 years ago ushering in the indigenous Heavy Electrical Equipment industry in India, a dream which has been more than realized with a well- recognized track record of performance. It has been earning profits continuously since 1971-72 and achieved a sales turnover of Rs 14525 Crores with a profit before tax of Rs 2564 Crores 2005-06. In 2007 BHEL has achieved an all time high turnover of Rs 18739 crores, notching a growth of 29% over the previous year. Net profit has soared by 44% to 2415 crores over 1679. 2 crores of last year. BHEL has been paying dividends over a quarter century and in line with the excellent performance during the financial year 2005-06, an all time high dividend of 145% has been paid. We will write a custom essay sample on Bhel Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page BHEL caters to core sectors of the Indian Economy viz. Power Generation and Transmission, Industry, Transportation, Renewable Energy, Defense, etc. The wide network of BHEL’s 14 manufacturing divisions, 4 power sector regional centers, 8 service centers, 15 regional, offices and a large number of Projects Sites spread all over India and abroad enables the Company to promptly serve its customers and provide them suitable products, systems and services-efficiently and at competitive prices. BHEL has already attained ISO 9001 certification and all the units/divisions of BHEL have been upgraded to the latest ISO-9001; 2000 version quality standard. All the major units/divisions of BHEL have been awarded ISO 14001 certification for environmental management systems and OHSAS 18001 certification for occupational health and safety management systems Major Miles stones in the history of BHEL †¢FEB. 1947 – The planning board felt the need for electrical machinery in India. †¢MAR. 1948 – Sir J. C. Ghosh set up heavy electrical generating equipment factory in the state sector. †¢JAN. 1955 – S. A. Gadkary committee reiterates the need for heavy electrical factory. †¢AUG. 1956 – Heavy Electrical (Pvt. ) LTD, was incorporated which was later renamed as HE (I) LTD. †¢NOV. 1964 – Bharat Heavy Electrical Ltd, was established and plants at Haridwar, Hyderabad Trichy were set up. †¢JULY. 1972 – Action committee of public Enterprises recommends integration. †¢JAN. 1974 – HE (I) LTD and BHEL were formally merged and the corporate plan of the company was prepared. JAN. 1980 – BHEL was set up 3rd generation plants at TRICHY – steel tube plant HARIDWAR – casting and forging plant JHANSI – transformer plant †¢In 1982- BHEL also entered into power equipments, to reduce its dependence on the power sector. So, it developed the capability to produce a variety of electrical, electronic and mechanical equ ipments for all sectors, including transmission, transportation, oil and gas and other allied industries. †¢In 1992, During the year, 10 thermal sets, 2 gas sets and 11 hydro sets were commissioned. Government of India’s liberalization policy and disinvestments policy on its pattern of shareholding in PSUs. †¢In 1994,- During the year the company established Asia’s largest fuel evaluation test facility at Tiruchi The Company commissioned ten industrial power plants resulting in power generating capacity addition of 293 KW’ †¢In 1995, The country’s premier state owned undertaking, BHEL, has commissioned India’s first 250 mw capacity thermal generating unit at Dahanu power station in Maharashtra.

Foreign trade is the exchange of goods and services across international boundaries or territories Essay Example

Foreign trade is the exchange of goods and services across international boundaries or territories Essay Latvia, as other countries, can not survive without foreign trade, because something that is produced in Latvia can not be found anywhere else in the world and vice versa, Latvia imports something that can not be produced within the borders of this country. The question of foreign trade is an important one in order to see the place a country takes in the world economy, because the more developed the foreign trade is the more a country benefits from it. Latvia, on average, has a rather big scarcity of the current account. The main cause of the deficit is considered to be the negative trade balance. Almost one third of it is covered by the positive balance of services because the specific influence of transport services is high in the economy. Most of the current account deficit is covered by foreign direct investments and other long-term capital flows, the reserve assets of the Bank of Latvia keep growing. We will write a custom essay sample on Foreign trade is the exchange of goods and services across international boundaries or territories specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Foreign trade is the exchange of goods and services across international boundaries or territories specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Foreign trade is the exchange of goods and services across international boundaries or territories specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The negative current account balance is among the core risks in Latvian economy. Assessment, analysis and forecasting of the trade balance are, therefore, of highest importance in economic studies in Latvia. This course paper discusses important part of Latvian economy foreign trade. The course paper will also look at the statistics of exports and imports in Latvia and will discuss other relevant questions that are connected with foreign trade. The aim of this course paper is to show that Latvia has been developing its foreign trade level and that Latvia has been accepted into world economic alliances. 1. Balance of payments The balance of payments (or BOP) is a measure of the payments that flow into and out from a particular country from and to other countries. It is determined by a countrys exports and imports of goods, services, and financial capital, as well as financial transfers. [1] The balance of payments is a summary of all economic transactions between a country and all other countries for a specific time period, usually a year. The balance of payments account reflects all payments and liabilities to foreigners (debits) and all payments and obligations received from foreigners (credits). [1] In theory, the balance of payments of any country is zero (because every unit of currency must come from somewhere)[1] There are some classifications of the balance of payments these are : o Current account * trade account * income account * transfers account o Capital account [4] Current account: records net flow of money into a country resulting from trade in goods and services and transfer payments made from abroad [1] Capital account: records net flow of money from purchases and sales of assets such as stocks, bonds and land [1] The domestic demand in Latvia is bigger than the gross domestic product, creating the deficit in the current account. This means that also foreign savings should be used to finance domestic investment. The level of savings in Latvian economy has not essentially changed and equals to approximately 20%. Investments, in contrast, grow at a more rapid rate.Thus, the lack of balance between savings and investment (deficit of the current account) is a regular phenomenon in the Latvian economy. 2. Latvian foreign trade policy The Ministry of Economics is the main institution which implements Latvias interests in the field of foreign trade policy in the EU, WTO and other international institutions and organizations, carries out export promotion policy, as well as, within the framework of its competence, enforces internal market protection policy and fosters foreign economic cooperation with other countries. Latvias trade relations with other countries are based on multiparty treaties within the WTO, free trade agreements (FTA) and other treaties which provide for the most-favoured nation regime (MFN). Since its accession to the EU on May 1st, 2004, all foreign trade rules and international treaties currently in force within the EU became binding for Latvia. This created new conditions in the economic cooperation with Latvias neighbours and other third countries. Currently, EU internal trade constitutes approximately 80% of the foreign trade of Latvia. Trade with third countries has meanwhile seen some significant changes: * introduction of the common EU external customs tariff, which led to import duty changes; * expansion of the external market due to the many FTAs concluded by the EU; * introduction of quantitative restrictions (quotas) for imports of certain goods; * application of market safeguard measures currently in force in the EU to imports of certain goods starting from May 1st, 2004. Foreign trade is important for Latvia, since the internal market cannot ensure a sufficient growth for Latvian manufacturers. Only stable growth of Latvian exports can ensure the improvement of trade balance and the increase of GDP. Countries of the EU and CIS play the most important role in the foreign trade of Latvia at present, and this is not expected to change in the nearest future. However, in the light of the saturation of EU market and its poor growth rates, the importance of third countries in the foreign trade of Latvia is expected to grow. Latvian entrepreneurs face increasingly more new opportunities in such markets as USA, Russia, Ukraine, China and Japan.

Argumentative Essay on Bioprospecting essays

Argumentative Essay on Bioprospecting essays Way before technology, doctors, hospitals and healthcare there has always been mans idea of using something to further the human race or make it better. Shamans know hundreds and hundreds of plants that have different uses for different things. Certain animals have also been evolving and making certain defense and protective material that helps them survive. With the materials from both plants and animals humans have been able to cure a cough, help cuts and bruises heal, induce hallucinations, protect from the heat and help fight cancer, but all of these have been discovered buy humans and are used to benefit humans. As technology and the whole global economic market have begun there has been a fight over these plants and animals and whether or not they can be patented and sold to the buying public. This issue of patenting a plant or the active ingredient of the plant or the certain material from a living organism is called bioprospecting. Bioprospecting has been widely debated for many years and is still debated on different levels everyday. It is very important because it has the ability to help out millions and millions of people with certain illnesses and other problems that afflict mankind. A variety of different arguments have been put forward about the moral and ethical status of the issue. This essay will consider arguments that bioprospecting is unethical and immoral and point out some of the problems with these views. It will then present the idea that bioprospecting is good for society and how it can help us out in many different ways. It has been argued that bioprospecting is unethical because it is taking something natural, patenting it using it for profit. These natural substances, like a plant or organism, should be in the hands of the county it came from and be used in its natural form as the argument states. If they were to be used, the country would indeed to benefit from it and have most of the say in whether...

Finance Term Paper Example | Topics and Well Written Essays - 1250 words

Finance - Term Paper Example The equity finance is an expensive and exclusive method for raising capital in the business and it comprises of ordinary and preference shareholdings, bonds and floating market shares. It also includes a listing cost and legal paper work, potential shareholders and raises wider opportunity for pool of finance (Slee, 2011). The difference in usage of appropriate financial capital structure is the selection of Leverage the business can be adhered to. It signifies the impact of debt in the company’s capital structure e.g. long-term bonds for 5 to 8 years and their impact on company’s profitability and earning stream (Khan et al., 2005). If the debt ratio is higher in good economic terms than it will also improve the required rate of return and return on equity of the business, similarly, if the debt ratio is higher in terms of recession than it creates a significance risk to the business operations and its sustainable future (Slee, 2011). According to the conventional theory of Modigliani and Miller (1985), in a perfect world the mix of debt and equity does not matter when economic terms and corporate taxes are assumed to be constant. It also suggested that value of the firm is independent of the financial capital structures and overall operating cost (Cox, 2011). It further argued that if the benefit is obtained due to low cost debt then it could be offset against the cost of equity borrowing that will be considerably higher than the debt finance. It also suggested that the cost of capital remains the same irrespective of the appropriate mix between debt and equity. It can be argued that value of the business and cost of capital will remain constant in a tax-free world e.g. United Arab Emirates (Slee, 2011). Debt financing is bind by obligations to pay interest and principal amounts and failure to meet the payment may result in serious risk to the business and in further case negative impact on the value of firm such as Bankruptcy (Khan et al., 2005). It can also be argued that as compared to the conventional theory if the business’s debt structure is higher than the equity portion, it might result in increased risk of higher interest payments and probable bankruptcy as well. It will also increase the cost of capital for the bondholders thus also indicating a highly geared business. It is suggested that to create an optimal mix of debt and equity structure, the margin level of gearing should be equal or does not outwei gh the probability of bankruptcy cost to the business (Ross et al., 2004). There are various debts to equity and debt ratio for industries and their risk level incorporating their business. The volatile industries like steel, cement, energy might adhere to higher debt ratio as compared

The Marijuana Policy in California Essay Example | Topics and Well Written Essays - 2000 words

The Marijuana Policy in California - Essay Example According to the California Health & Safety Code 11018, the definition of marijuana is all the parts of the plant Cannabis sativa L., whether it is grown or not; its seeds, the resin gotten from the plant, and any compound derived or manufactured from the plant. However, it does not include the plant’s mature stalks or any substance manufactured or derived from the stalk. Concentrated cannabis is used to mean the separated resin extracted from marijuana, irrespective of whether it is in purified or crude form. In spite of the fact that the laws for simple possession and the medical marijuana laws in California are among the country’s most progressive, adults who are seemingly responsible are still being arrested or harassed for its possession at an alarming rate. This is for a drug that has been scientifically proved to be safer than both tobacco and alcohol. According to Weintraub & Wood (44), the arrest rates in California for crimes related to marijuana in 2003 stood at 173 for every 100,000 people, and by 2007, the rate had risen to 203 per 100,000. In 2010, preposition 19 received a narrow defeat of 16% to 54%. It was a vote whose aim was to bring to an end the draconian policy of the arrest and prosecution of adults who were caught using marijuana, a substance proven to have less unpleasant effects than alcohol and cigarettes. This was to be achieved through the removal of criminal penalties for offenses related to marijuana as well as allowing local authorities to tax and reg ulate its growth and distribution. Despite its loss, it had the highest percentage of any marijuana legalization initiative that has ever been voted for (Weintraub & Wood 44). California State is ranked number 46 in the country in terms of the total severity of the maximum jail sentences that its residents receive for being in possession of marijuana, this being on a basis of penalties issued for first offenders. When looking at the penalties issued for just less than 1 once of the drug, the state is ranked number 12 together with 10 other states, since due to similarities in the states there are only 12 rankings within this category (McCollum 37).In 2007, arrested related to the possession of marijuana accounted for about 80% of all arrests related to the drug in California. Additionally, arrests related to the drug also accounted for 25% of all arrests related to drugs in the same year (McCollum 37). In recent years, the cultivation of marijuana has been on the increase dramatical ly. DCESP (Domestic Cannabis Eradication suppression Program), a program sponsored by the Drug Enforcement Administration, collects data that does not include all the marijuana plants seized within the state; but these data give an accurate indication of the actual cultivation rates of the drug. As much as getting estimates of how much from the total amounts of the drug cultivated is seized by the authorities, such as the local, state and federal ones is difficult, the overall trend is clear. The total seizures of the pant in California have increased for a period

ER patient intake and hipaa training update Research Paper

ER patient intake and hipaa training update - Research Paper Example Very often ER rooms become crowed with the patient’s family members. Eventually, in such circumstances it becomes extremely tough and stressful for the ER staffs to manage and provide necessary treatment facilities to the patients. ER staff frequently deals directly with the individual in crisis (University of California, 2012). The ER staff members are supposed to work in a charged and stressful atmosphere which is further overloaded with numerous sensory stimuli such as rushing of people, ringing of phones and other related activities. Atmosphere inside the emergency room is something that always demands urgency of work and rush. The ER staffs are always busy in treating patients or in rapid disposition of not so serious or extremely serious patients to other rooms in order to make more space for those patients in more critical condition. Moreover, the ER staff members must be able to distinguish patients who have minored illnesses and who have critical illnesses in order to provide treatment on sequential basis (Phipps, 1988). Contextually, the training will be provided to the staffs associated with the ER department of HIPAA. Moreover, the training will be offered to healthcare providers, business associates, professionals dealing with mental health and people making support team in the healthcare information. Training will be provided by the group of experts in the respective field with the use of latest technologies. The training will aim at developing a less stressful environment for augmenting the efficiencies of the ER staffs. The training should also be provided to ER staffs in matter relating as how and when to access Protected Health Information (PHI) as well as how to maintain confidentiality about the pivotal PHI. Part 2 Organization Analysis HIPAA is responsible for providing training to the employees, agents and volunteers of the organizations that constitute a â€Å"covered entity† under the Act. The training offered in HIPAA incl udes its rules, policies, and manipulation of its information systems, along with privacy protections, violation procedures and many more (Northwest Fire District, 2011). HIPAA educational courses served to the staffs focus on the key areas including confidentiality of the patients’ information and its usage. HIPAA also provide computer training to the different groups of the employees for effective management of the patient’s health information. However, even after such efficient training program, ER staffs are unable to render effective service in patients care and in matters related with PHI confidentiality. Hence, it becomes necessary for the HIPAA to develop its training methods and programs, especially those concerning ER staffs. Task Analysis Essentially, the HIPAA training task is designed to train employees towards ensuring careful utilization of patient’s health information. Hence, it can be affirmed that HIPAA aims to provide training to ER staffs in managing the patients’ information according to the norms established with this concern. HIPAA training program is considered as cost effective for the â€Å"covered entity† employees with regard to privacy and security requirement under the Act. Personal Analysis The training provided by the HIPAA may change the way in which an individual performs his/her job. After completion of the training phase, employees offered with a

Causes and Impacts of Inflation on Developing Countries

Causes and Impacts of Inflation on Developing Countries Introduction Economic development in low developed countries is a contested argument amongst economists, all of which are looking for the best way to enact economic growth. The discussion surrounds whether stable monetary policy will encourage economic development by encouraging foreign direct investment or will currency depreciation and inflation create the right environment for exports growth and thus economic growth? This essay will discuss the causes of inflation and its repercussions for economic growth in developing nations. The argument for monetary stability and its repercussions for economic development will also be discussed. The scenario surrounding the Asian financial crisis will be used at the conclusion of the essay to illustrate the finer points in the argument for monetary stability as a means to economic development. The Causes of Inflation Krugman and Obstfeld define inflation as the increase of prices of goods[1]. There are arguably many causes of inflation; it is a complex combination of many macroeconomic variables that work together to increase the price of consumer goods in a developing economy. Shamsul, Shyam and Kamath discuss, there are two dominant hypotheses regarding the causes of inflation; the monetarist hypothesis and the structuralist hypothesis. The monetarist hypothesis refers to an increase in the money supply which in turn causes an increase in the price of goods and the structuralist hypothesis refers to structural characteristics of a developing economy creating inflation including the nature of the tax system, foreign exchange restraints, the budgetary process, the nature of the labour market and administered prices. All result in a devaluation of domestic currency on a global currency market[2]. The forces that result in an increase in the money supply or a devaluation of domestic currency agains t foreign currency will discussed. Common economic theory states that liberalisation of financial and capital markets in developing countries results in growth and stability in those countries. However Chakraborty discusses how unrestrained opening up of an economy can result in a foreign exchange crisis. That an inflow of foreign currency through investment and fixed exchange rates will result in higher reserves in the central base, which in turn results in more money existing in the economy which causes inflation. Inflation thus can be seen as a cause of the devaluation of a domestic currency on global money markets[3]. Developing countries will often use an export oriented economic strategy to increase growth. Devaluations of a domestic currency will make exports look more attractive on foreign markets; hence governments will try and keep exchange rates down. Chakraborty continues that as prices continue to rise the demand for money similarly rises by domestic residents. It is common for residents to sell foreign b onds in order to buy local currency, which in turn puts pressure on the currency to appreciate. In order to undermine this scenario banks will sell local currency and buy foreign reserves to counteract the appreciation of the exchange rate due to the increased demand. This scenario has a cyclical effect and will in turn increase the money supply and inflation[4]. The situation surrounding a floating exchange rate can be quite different. Chakraborty discusses how liberalising the capital market will attract capital inflows from foreign investors which will increase the money supply, but will however appreciate the exchange rate. This type of policy will usually be accompanied by a contractual monitory policy that will increase demand for money and increase the interest rate. The increased interest rate will further attract capital inflows and further appreciate the exchange rate. An appreciated currency will be less attractive on foreign markets thus export demand will decrease and imports will increase, deteriorating the balance of trade deficit[5]. Large foreign debts result in a higher risk of financial instability. Inflation and currency devaluations have been a common problem in the history of developing nations. Instability in prices and foreign exchange rates discourages lenders in richer countries from investing in poorer markets due to the threat of losing money in a financial crisis or currency devaluation. Krugman et al discuss how richer nations protect themselves against this risk by insisting that poorer countries repay their loans in the lenders currency. A transfer of wealth can be directed towards foreign lenders in the event of currency devaluation as it raises the local currency valuation of the debt. This scenario can lead to developing countries inability to repay foreign debts and sometimes in default[6]. Inflation can be a result of external factors in a global economy including contagion from other trading partners. Cheng and Tan discuss that although domestic factors are important determinants of inflation, they are often not as important as price volatility being transmitted from one country to another. In the case of Malaysia, interactions in the form of trade resulted in a causality of inflation from other ASEAN nations to inflation in Malaysia[7]. This form of contagion can be very influential for a developing country liberalizing its financial and capital markets in a global economy. Instability and inflation can lead to speculation which in turn can lead to financial crisis. Krugman et al discusses contagion as the vulnerability of developing economies to suffer a loss of confidence in their financial markets which can cripple even the healthiest economies. Speculation regarding the devaluation of a local currency can result in investors pulling out of their investments (which now must be paid in the lenders currency), selling all the local currency (which has a further devaluing effect) and leaving the country with a large foreign debt. Speculation can be contagious as was seen in the Asian financial crisis where devaluation of the Thai Baht was followed by similar speculation surrounding other Asian currencies including that of Indonesia and Malaysia and eventually resulted in full financial crisis[8]. Controlling Inflation and Stabilising an Economy Methods used to counteract heavy speculation and financial instability includes information transparency. Ferreira de Mendonca and Filho discuss increasing information transparency as implying a fall in inflation bias and inflation volatility. Anxiety regarding inflationary pressures can be controlled through forecasts being released by the central banks of developing nations making policy and macroeconomic performance more predictable. There is evidence that economic transparency can reduce inflation and lower interest rates thus improving the conduction of monetary policy[9]. Wagner discusses inflation as being regarded as the signal of bad policy and political and economic instability. The variables are the relevant locational factors that determine the attractiveness of economies for investment. A loss in investors and mobile factors of production such as technology transfer and knowledge results in loss of potential production and potential output and hence growth. Local residents suffer through an increase in unemployment and a decrease in productivity[10]. Local economies become more unstable as a consequence. It can now be deduced that managing exchange rates is paramount to controlling inflation in developing countries. Wagner discusses two methods of managing exchange rates in order to control inflation; the ‘hard peg’ option and the floating currency option. The term ‘hard peg’ refers to the currency boards, where monetary policy autonomy is completely given up. Hard peg exchange rate regimes have gathered a lot of interests for developing economies over recent years as currency crises are not possible under the hard peg system. There are certain preconditions for an economy that need to be present in order for a hard peg to be possible. The recipient developing nation must have a developed, well supervised and regulated financial system; the rule of law; fiscal discipline; and wage and price flexibility. Many emerging nations lack these preconditions and hence are unable to sustain a hard peg[11]. Boyd and Smith suggest that low inflation is the central objective of developing economies in their efforts to enact economic growth. Growth is seen as having an inverse relationship to inflation and thus must be kept as low as possible. Developing countries in the Caribbean such as the Bahamas have been successful in lowering inflation and stabilising the exchange rate through using a currency board as part of their institutional structure. The currency board ties the monetary policy of the constituent countries and provides disciplinary controls on monetary and fiscal policy which in turn provides stability in their output. All the countries in the currency union experienced persistence however low rates of inflation and low variability in inflation rates therefore could be considered stable and an acceptable monetary policy performance[12]. Wagner further postulates that a floating exchange rate is similarly effective in controlling high inflation. Despite anxiety that a floating exchange rate will result in an unstable currency, floating exchange rates can be used to attract foreign investment and thus appreciate the value of the currency. Interest rate and intervention policies can be used to influence the behaviour of the exchange rate and reduce the negative effects of speculation[13]. A floating exchange rate can be flexible enough to encourage investment through appreciation however encourage exports through devaluation provided controls are in place to ward off speculative attacks. Maskooki shows Mexcio as having successfully implemented a floating exchange rate in order to control inflation. It reduced the value of the peso by gradual and frequent currency adjustments in reaction to market conditions. The slow depreciation of the peso made exports more attractive overseas and was offset by the liberalization of the capital market which was attractive to foreign investors. The combination of the two had a balancing effect on inflation and exchange rates and thus encouraged stability of prices. This had made the external market less exposed to unexpected shocks[14]. Through economic stabilization Mexico is now less vulnerable to investment reversal and thus less vulnerable to financial crisis. Stable inflation rates and exchanges rates send positive signals to global financial markets of positive financial policy in developing countries. Good corporate governance has the reflexive ability to create the positive economic environment to control inflation and also the positive outcome of successful monetary policy. Arsoy and Crowther comment that mandatory corporate governance can be achieved through the creation of capital markets in which transparency, accountability, responsibility and fairness are understood by both investors and shareholders[15]. Transparency being the proponent for fighting speculative attacks by reducing risks associated with investing in developing countries. Krugman et al discuss that governments of developing countries must create a stable environment through reducing the risk of inflation and protecting property rights in order to encourage economic growth. In protecting property rights they encourage private enterprise, investment, innovation and ultimately economic stability[16]. The conditions for economic stabilization feed off each other – stabilization encourages investment which in turn encourages more stabilization. Nsouli, Rached and Funke discuss the control of inflation as paramount to the success of any domestic economy. Here again price can be seen as a signal of economic health as price liberalization is essential for the efficient allocation of resources within and across sectors of the economy. Without a rational price system, profit and losses alone cannot signal what industries should expand and which ones should shrink. In both transition and developing economies, price liberalization led to a rapid increase in the availability of products for consumer use[17]. The Asian Financial Crisis The countries of the Asian economic boom in the mid 1990’s are a perfect example of how unstable monetary policy can bring even the most impressively growing economy down. Krugman et al tells us the Asian tigers were initially South Korea, Hong Kong, Singapore and Taiwan and then Thailand, Malaysia and Indonesia later joined the group. They had achieved incredible rates of growth through high savings and investment rates, improving education levels amongst the work force and by liberalising trade or at least a high level of openness and integration with global markets. The Asian tigers were gaining popularity as an investment opportunity as restrictions on capital inflows were lifted. However all this investment was leading to large deficits and would eventually result in financial demise[18]. Krugman et al continues that starting with the depreciation of the Thai Baht, a chain reaction of events brought the Asian miracle into financial crisis. A sharp drop in the value of the Baht as it was left to float after being pegged to the American dollar brought about speculative attacks on the currencies of its neighbours Malaysia and Indonesia and eventually South Korea. All countries had large foreign debts mostly in American dollars and as a result were facing increasing values on these debts due to the decreasing exchange rate. Many debts in Asia had the power to push banks and viable companies into bankruptcy as a result of exchange rates spirally out of control[19]. The Asian financial crisis was seen as a self perpetuating scenario based around speculative attacks on currency valuations. Lee argues that as soon as a currency peg is seen as non-defensible market participants expect that the market will move in one direction and in fact it does. Once the expectation sets in collective action takes hold (in this case investors pull out of their investments) and the result can inflict financial ruin on whole economies[20]. The Asian miracle had come to an abrupt end. Krugman further discusses the cause of such violent economic collapse can be seen through bad government policy. In Thailand and Indonesia ‘crony capitalism’ was the source of a lot of poor investment decisions. The sons and daughters of royalty or prominent politicians were the recipients of a lot of investment money regardless of the legitimacy of the project resulting in considerable moral hazard in lending. The regulatory system was ill equipped to deal with companies in danger of bankruptcy or to foster quality investments in the economy that would count towards real growth[21]. As a result the first sign of instability caused foreign investors to pull out of investments and leave the economy in crisis. The act of stabilising an economy is a complex process involving effectively monitoring the potentially volatile variables of an economy. Wagner discusses economic stability as being created through strengthening domestic banking and financial systems; providing better information and policy transparency; strengthening corporate finance, including bankruptcy laws and their implementation; taking precautions against potential capital flow reversals; and last but not least, building packages of sound macroeconomic and exchange rate policies[22]. Although the situation in South East Asia has improved over the years since the financial crisis, Low tells us that many questions still remain in Asia regarding their economic stability for the future, for example, whether effective democratic checks-and-balances in the political system, legal, judicial and institutional processes can help reinforce the moral economy[23]. It is fare to say that controlling inflation is but the tip of the ice b urg when stabilizing a developing nation’s growth. Conclusion Inflation and economic instability are a common problem for low developed countries trying to establish themselves in global markets. Inflation and currency depreciation are fundamental signals to wealthier nations that a local market is too big a risk to invest in thus leaving development and growth stagnant in those countries. Price stability on the other hand can signal to potential investors that a local financial market has strong monetary policy, that exchange rates can be controlled and that the local business environment is encouraging to growth. Countries with unstable monetary policy are vulnerable to speculative attacks from market participants as can be seen in the case of the Asian Financial crisis. Pegging local currencies to stronger currencies such as the United States dollar can result in devastation if markets forecast a currency will be overvalued. Contagion can result in a chain reaction of events that brings trading partners into similar financial crisis. Althoug h devaluing a currency can make exports more attractive on foreign markets it can also discourage foreign direct investment from investing due to the high incidence of default on foreign debt. Mechanisms have been designed to control factors such as inflation and encourage foreign investment by richer nations. A floating currency or a currency board can be used effectively to stabilise exchange rates and thus control the flow of funds in and out of a local market. Good corporate governance including transparency of monetary policy can be used to reduce the risk of speculation and forecast inflationary activity. Political stability also needs to be created through effective regulatory systems on financial and capital markets including bankruptcy laws and laws preventing capital flight in the face of financial crisis. Reference List Arsoy, A.P, Crowther, D (2008) â€Å"Corporate Governance in Turkey: Reform and Convergence,† Social Responsibility Journal, vol.4, iss.3 pp.407-422 Boyd, D Smith, R (2006) â€Å"Monetary Regimes and Inflation in 12 Caribbean Countries,† Journal of Economic Studies, vol.33, iss.2, pp.96-108 Chakraborty, D (1999) â€Å"Macroeconomic conditions and Opening Up – Argentina, Chile and India: A Comparative Study,† International Journal of Social Economics, vol.26, iss.1/2/3, pp.298 -311 Cheng, M.U. Tan, H.B. (2002) â€Å"Inflation In Malaysia,† International Journal of Social Economics, vol.29, iss.5, pp.411-426 Ferreira, H Filho, J.S (2007) â€Å"Economic Transparency and Effectiveness of Monetary Policy† Journal of Economic Studies, vol.34, iss.6, pp.497-515 Krugman, P.R. Obstfeld, M. (2005). International economics: Theory and policy (7th ed.). Boston: Addison-Wesley Longman Lee, J.Y. (2007) â€Å"Foreign Portfolio Investors and Financial Sector Stability in Asia,† Asian Survey, vol.47, iss.6 pp.850-871 Low, L (2006) â€Å"A Putative East Asian Business Model,† International Journal of Social Economics, vol. 33, no.7 pp. 512-528 Maskooki, K (2002) â€Å"Mexico’s 1994 Peso Crisis and its Aftermath,† European Business Review, vol.14, no.3, pp.161-169 Nsouli, S.M Rached, M Funke, N (2005) â€Å"The Speed of Adjustment and the Sequencing of Economic Reforms: Issues and Guidelines for Policy Makers,† International Journal of Social Economics, vol.32, no.9, pp.740 766 Shamsul, A Shyam, A Kamath, J (1986) â€Å"Models and Forecasts of Inflation in a Developing Economy,† Journal of Economic Studies, vol.13, iss.4, pp.3-30 Wagner, H (2005) â€Å"Globalisation and Financial Instability: Challenges for Exchange Rate and Monetary Policy,† International Journal of Social Economics, vol. 32, iss.7, pp.616-639. 1 Footnotes [1] Krugman, P.R. Obstfeld, M. (2005). International economics: Theory and policy (7th ed.). Boston: Addison-Wesley Longman. [2] Shamsul, A Shyam, A Kamath, J (1986) â€Å"Models and Forecasts of Inflation in a Developing Economy,† Journal of Economic Studies, vol.13, iss.4, pp.3-30 [3] Chakraborty, D (1999) â€Å"Macroeconomic conditions and Opening Up – Argentina, Chile and India: A Comparative Study,† International Journal of Social Economics, vol.26, iss.1/2/3, pp.298 -311 [4] Chakraborty (pp.298 – 311) [5] Chakraborty (pp.298 – 311) [6] Krugman et al (pg.615) [7] Cheng, M.U. Tan, H.B. (2002) â€Å"Inflation In Malaysia,† International Journal of Social Economics, vol.29, iss.5, pp.411-426 [8] Krugman et al (pg.623) [9] Ferreira, H Filho, J.S (2007) â€Å"Economic Transparency and Effectiveness of Monetary Policy† Journal of Economic Studies, vol.34, iss.6, pp.497-515 [10] Wagner, H (2005) â€Å"Globalisation and Financial Instability: Challenges for Exchange Rate and Monetary Policy,† International Journal of Social Economics, vol. 32, iss.7, pp.616-639. [11] Wagner (pp.616-639) [12] Boyd, D Smith, R (2006) â€Å"Monetary Regimes and Inflation in 12 Caribbean Countries,† Journal of Economic Studies, vol.33, iss.2, pp.96-108 [13] Wagner (pp.616-639) [14] Maskooki, K (2002) â€Å"Mexico’s 1994 Peso Crisis and its Aftermath,† European Business Review, vol.14, no.3, pp.161-169 [15] Arsoy, A.P, Crowther, D (2008) â€Å"Corporate Governance in Turkey: Reform and Convergence,† Social Responsibility Journal, vol.4, iss.3 pp.407-422 [16] Krugman et al (pg. 634) [17] Nsouli, S.M Rached, M Funke, N (2005) â€Å"The Speed of Adjustment and the Sequencing of Economic Reforms: Issues and Guidelines for Policy Makers,† International Journal of Social Economics, vol.32, no.9, pp.740 766 [18] Krugman et al (pg.620) [19] Krugman et al (pg. 623) [20] Lee, J.Y. (2007) â€Å"Foreign Portfolio Investors and Financial Sector Stability in Asia,† Asian Survey, vol.47, iss.6 pp.850-871 [21] Krugman et al (pg.622) [22] Wagner (pp.616-639) [23] Low, L (2006) â€Å"A Putative East Asian Business Model,† International Journal of Social Economics, vol. 33, no.7 pp. 512-528

Essay --

There are many drug cartels in the country of Mexico, but one of the most powerful drug trafficking organization in the world being the Sinaloa Cartel. A drug trafficking, money laundering, and organized crime group that still remains the strongest in the country and has the largest presence nationwide. It was founded in 1989 in the city of Culiacan, Sinaloa. The youngest city just up the northwest of Mexico. Not only is it known as the Sinaloa Cartel, it was also known as La Alianza de Sangre, meaning Blood Alliance. Hector Palma, a drug lord that was in charge of the cartel was arrested in the year of 1995 and passed it on to one of his well known business partner, Joaquin â€Å"El Chapo† Guzman. In that time period, he took leadership and is now currently running it. He is considered to be the second generation of drug smugglers along with many other individuals such as Rafael Quintero, Ernesto Carrillo, and Miguel Gallardo. These second generations were brought to the cartel through connections from family relations, especially Joaquin â€Å"El Chapo† Guzman. The first generation dates b...