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Thursday, February 28, 2019

Art Criticism and Art History Essay

The origins of the practice of assemblage can be traced back to its early twentieth century roots based on ideas presented by public address systemists. The dad relocation was a literary and operativeryistic movement during the First World fight and further developed as a non- imposture movement. The main idea of atomic number 91 was to not follow a uniform rule of what an fraud entails in order to be valued. This movement was significant in the development and memorial of cheat as it challenged family with new ideas thence provoking wobble in our perspective of what can be classified as aesthetically pleasing and all the possibilities of what art is.Also, the emergence of Dadaism occurred when the beingness was in an affluent, strong, materialistic and consumer oriented mindset and was created out of the frustration and pain matte by young artists provoked by a revolt against the horrors of war. By their governments allowing such barbarism to take place, they then a dapted beliefs in reversal to those implemented onto them For example, in a time where impressionism was celebrated as influenced by realism, romanticism, baroque and renaissance movements, Dadaists disregarded past influences and made their own art from whatever was considered non-artistic.The Dadaists stood for anything that wasnt classified as art due(p) to condemnation of this war and created non art by using Shock Art to enamour the attention of viewers at the time. The Dadaists would intent vulgar words, scatological humour, optic puns and put in object lenss to create non artistic pieces. This generated reactions of offence and shock by society at the time and therefore achieved its purpose, which was to provoke an emotional reaction from an audience. A clear example of this is stand for in Marcel Duchamps L. H. O. O. Q where the artist has painted moustache on a copy of the Mona Lisa.This became one of the around well known acts of degrading a famous artistic prod uction as Duchamps postmodernist viewpoint challenged what the fancy originally had to offer and changed its consequence completely. This degrading of the Mona Lisa achieved another level of offence through with(predicate) the title of the image being a pun, which, when translated in French, the letters pronunciation says She has a fiery ass whilst being displayed as post-card size rather than being blown-up and therefore admired as Da Vincis masterpiece was as well as many influential art plant of the past.The subjective viewpoint of this artwork is to provoke an emotive response from viewers and is a form of ridicule against the Mona Lisa. The Dada movement was a revolt against the high cultural surfeit of the visual arts of the time. To truly act against high content of artwork, the Dadaists upgrade ordinary objects into the outlook of the aesthetic by forcing viewers to observe fooling objects in new frameworks.Assemblage in the Dada movement vary widely as there was n o predominant medium of use in any of these artworks and left the construction of the work to the imagination of the origin rather than implying that only a painting suiting the era is considered art. The Dada movement self destructed when it was in danger of becoming an acceptable art practice in society. Due to use of assemblage, ready made objects and montage of all sorts, these techniques of art gained acceptance from Dadaism and became fine-tuneular within the coming(prenominal) years of the movement.Dada was influential in the creation of surrealism as these works ar not only an attempt to express the mechanism of the incomprehensible subconscious but ar to a fault characterized by fantastic imagination and bizarre juxtaposition of subject matter trying to be represented in this form. Another representation of Dada is Marcel Duchamps collection of a urinal (left) as his sculpture aiming to persuade audiences to view the urinal as a work of art and called it a readymad e.Due to Duchamps Dada contributions and gainsay of the social order of the art world, he is now seen as the creator of conceptual art. Duchamps works are both seen as postmodern as they use postmodern conventions such as appropriation and travesty (as seen in L. H. O. O. Q) and recontextualisation in Fountain (above). The re-emergence of the found object in part art was significant in the development of the history of art as it reinforced previous ideas presented by the Dada artists of aesthetics and of what society will accept as an artistic work.The re-emergence of the found object in originate art looked at artworks using contemporary theories and knowledge that were established in the 1980s to challenge traditional and modernist ideas, which was exactly the aim of the Dadaists. It is due to the challenging of contemporary perceptions of art in which the found object would be considered a postmodern practice in its time. Found art ( as well as known as Ready-mades) is a des cription of art created by modified and undisguised objects that are not considered art for the main reason of their non-art function.The art created by these found objects convey meaning through their context, assemblage/composition and by the artists aspiration and approaches taken to montage pieces together. The use of assemblage and the found object in Pop Art practice became an artistic trend and is exemplified by Robert Rauschenberg where he combines installations with the assemblage of large physical objects and commercial photography to form connect in 1963. Rauschenberg merges various non-traditional materials and objects into innovative combinations and through this process, has combined contemporary art with the found objects.This demonstrates Rauschebergs movement from abstract expressionism to pop art. Raschenburgs process of art making involved entailed walking around a block of land in his studio and collecting junk and rubbish, as demonstrated in Combine. This art making practice was seen as a further development of Dadas use if rubbish and readymades. Raschenburg is now considered to be a neo-Dadaist due to these unconvential traditions. His works such as Combine are subjective as they are personal works expressing thought and imagination.Claes Oldenburgs Giant hamburger is another example of the found objects re-emergence in pop art as it reflects his concerns of making art materials from products of the commercial world and succeeds in showing the everyday complexity of 1960s American goal, being that of agileing food. Giant Hamburger is unconventional in its subject matter and materials as it simply displays a massively oversized American icon at 132 cm high and 213 cm wide. The use of imitating a symbol of American subtlety enhances the impact of this work and the soft texture of the sculpture also challenges the idea that a sculptures form must be solid and hard.This artwork is cultural as it highlights a the American culture that h as become fast food and is subjective as Oldenburg sums up his ideas of fast food in hope of provoking a response from audiences, therefore creating a link between the artist and the artwork. Richard Hamilton also represents the re-emergence of the found object in Pop art as he became known for bonnie What Is It that Makes immediatelys Homes So Different, So Appealing? in 1956. This montage consists of various images found from American magazines all within a kinfolk environment.The staircase is taken from a model advertisement for a pointlessness cleaner and the woman posing is believed to be Jo Baer who had posed for burlesque magazines in her youth. The rug is a blown up photograph once utilize as a magazine feature and the figure of the Earth cuts into the unclutter of the picture. Features of Pop Art are present in this image through the use of bright colours and collage is used in Hamiltons artmaking adding a unique and distinguishable factor to his work. The objects t hat are displayed are also significant and can be related to Hamilton, therefore making the artwork subjective as well as postmodern.These articles and cutouts from around the room are from Hamiltons collection over time from texts he found to be interesting. Through expression of Hamiltons experiences, the audience is able to reflect on the artists imaginative qualities produced by the above artwork. The conceptual framework is visible in this image as the artists ideas are tied in with the world (being latest affairs as shown by the media/articles/magazines) to form an artwork for a big audience. The cultural frame is also portrayed in Just What Is It that Makes Todays Homes So Different, So Appealing? Through ideological aspects in society such as the medias influence as represented by magazines, celebrities and newspapers. This artwork is therefore significant as it acts as a zeitgeist reflecting the culture of the time when pop art was emerging. This allows audiences to under stand the artists world at the time and the audience he was presenting to as well as his influences. The earth cutting into the top of the artwork may represent advances in knowledge regarding evolution of Earth that may have influenced Hamilton.

Economic Development and Culture Essay

agree to Easterly (2001), attempted remedies to underdevelopment (like loans, FDI, population control) are generally determined by non- sparing factors such(prenominal) as demographic covariants, cultural characteristics, and political systems. In the avocation paragraph, Easterly demonstrated the devastating implication of a one mode to stinting development in many third base World countries. Now, the assumptions of some(prenominal) classical economists and political economists are under attack. There is one chemical element that both these theories ignored subtlety.Sociologists and cultural anthropologists often argued that there is no single path to scotch development when culture is lockn into consideration. Market institutions and palliate trade instruments have usually low adoption rates in many underdeveloped countries (Easterly, 2001). The reason is not obvious. Traditional methods of drudgery and switch over often obscure economic principles. These traditional m ethods of production and tack conventional a significant part of culture. For example, in the 1950s, the so-called trickle down pat(p) preliminary became popular in the West.The idea is simple. The adoption of technology flows smoothly from the capitalist class to low income countrified families (Easterly, 2001). Translated into income, the rate by which the capitalist class accumulates wealth is correlated with the rate by which low income agricultural families accumulates capital. In short, the approach benefits all individuals who adopt prescribed technologies (since these technologies increase production and improve efficiency). Such approach was enthusiastically received by Third World countries in the 1950s and 1960s (Easterly, 2001).However, after two decades of trial, it was dispatch that it failed to produce the desired results. Farmers did not adopt the prescribed technologies, as what the proponents of the approach expected. Several studies were conducted to determ ine cause of the failure. Culture was seen as the culprit variable in those studies. Third World farmers failed to adopt prescribed technologies because 1) such technologies were different to traditional beliefs and farming practices, and 2) culture did not permit them to use such technologies. These results generally struck down the traditional economic approach to development. scotch principles are not the sole determinants of economic development. Easterly (2001) summarized the role of culture in economic development. His main propositions are as follows 1) Many economic policies failed because it never incorporated elements of cultural life-time. Such can be verbalise of the trickle-down approach utilize by many Third World countries in the 1950s and 1960s 2) Culture decides which and how economic policies should be undertaken. For example, an economic form _or_ system of government that fosters information liberalization in an Islamic country is doomed to failure.An econom ic policy should be socially accepted 3) Culture provides an avenue for feedback for enforced economic policies. Culture is itself a collective entity that dictates which economic policies are sustainable in the long-run. Acceptance is not the issue, rather the long-term utility to the club 4) Culture provides individuals, groups, and institutions the necessary moral information of specific policies. When viewed from the social exchange theory, it is these moral information that enable individuals and groups to rationally weigh the benefits and costs of contingent economic policies.In the book Culture Matters, Pattersons testify successfully showed that economic models failed to explain the persistent social and behavioral chaos that defines national urban life (Culture Matters, 494). Patterson argued that economic models only explained the tangible elements of economic life that is, economic models only touched issues like income, consumption, savings, and enthronization (Cul ture Matters, 495-98). When those economic models were used to explain behavioral differences across individuals, groups, and classes, they ended in self-insufficiency.However, Pattersons essay revealed another striking fact. Cultural differences, behavioral outlook on wealth, and socio-religious beliefs were seen as determinants of income, investment, and savings. Groups that have a positive outlook on wealth and investment have runencies to adopt capitalist principles. Groups which adhere to conservative religious beliefs tend to view capitalist principles as unChristian. In short, cultural differences determine economic development. To restrict economic development to the twin principles of free trade and non-government interpellation is misleading.If a country wanted to experience economic development, it must take into consideration non-economic variables. Political culture, ideology, socio-religious beliefs, and systems of exchange are some of the non-economic variables tha t influence economic decision-making patterns.Works CitedCulture Matters. Ed. By Lawrence Harrison and Samuel Huntington. New York New York Basic Books, 2000. Easterly, William. The baffling Quest for Growth Economists Adventures and Misadventures in the Tropics. MIT The MIT Press, 2001.

Wednesday, February 27, 2019

Public and Private Sector Collaborations Essay

Open research organizations and private squares work under very divers(prenominal) situations and with poles a-part aims and objectives, which event in fairly different outcomes in the two types of organizations. commonplace researchers are mainly ambitious due to their go awayingness to expand knowledge and bring on them in journals and magazines to help for the cause of bringing it to knowledge of the masses. On the different hand, private firms and ventures aim to achieve higher profits finished commercially valid information that the firm builds up or obtain to be kept in the boundaries of the participation and far away from opponents in the trade or the industry. This usually results in the conflicts among the two forms of organizations and it is difficult to work in collaboration between the public and private organizations.But it has in any case been discernable from the past that, private companies and firms which gestate worked in public collaborations, although not many a(prenominal) succeeded, but those who did, have been able to achieve goals and have set trends for early(a) organizations to work for the cause of social development and enhancement of public arrangings for statuesque cause.Current Situation (LoJack) and StrategyLoJack Corporation trades and authorizes the LoJack System, a unique, patented system used entirely by honor enforcement workforce to track, turn over, and pick up stolen motor vehicles.The problem of vehicle theft has escalated to an epidemic level an estimated to result in an yearly loss of approximately $8 billion.The LoJack System has an launch track evidence of falling damages, striking public protection, and solving obese crimes related to motor vehicle thievery, all accomplished within the vivid restrictions of overburdened law enforcement structure. Currently, LoJack has unique system designed to assist law enforcement in locating and bring in stole vehicles. Competition is fierce if viewed wit h Telemetric and GPS tracking devices. However, if we look at vehicle recovery systems, LoJack is the global leader with a law enforcement earnings that cannot be easily duplicated. This law enforcement network is challenge politically and requires a high degree of local political assistance. Financially, sales are climbing, but year over year growth is declining. The distribution system through auto retailers seems stuck to radical automobile sales.The LoJack strategy at the present time consists of several discrete variables. LoJack has elected to expand into refreshful geographic areas and commercialises which is a logical growth strategy for the firm which has open up an enviable reputation in terms of plus recovery systems. This company has developed a new tracking unit that permits it to move into new segments such(prenominal) as trailers while simultaneously reducing costs for such units, therefore, establishing itself as a cost leader in the sector. This combined with a weapons-grade differentiation of product through law enforcement networks gives LoJack a strong competitive advantage. These are strengths that cannot be quickly or easily duplicated and because of the copyrighted technical aspect of this product. Competitors would have to try and find substitute products to fight directly with LoJack.Competitive EnvironmentNew EntrantsTeletrec and other(a) competitors were on the merchandise prior to LoJacks entrance and other competitors are entering the food market through GPS based systems such as OnStar. These systems are not a onetime purchase but incur monthly fees to maintain work and whitethorn require the use of a cell phone.SubstitutesJust as with GPS, there is a panic of substitute products coming on-line through new technology, but this threat should be mitigated by LoJacks network with local law enforcement agencies.SuppliersSuppliers are also a threat as the auto industry is developing its own telematics technology. The automakers have started relying on standards to speed up the plan cycle. Their incapability to bring state-of-the-art activity, communication, routing, and other telematics (navigation, driver-warning, and communication systems) evidently emphasize the manufacturers un leave behindingness to relying on these standards. The automakers came into view to have understood their errors and restrictions and are participating in the development of new network standards for both critical mission and convenience or entertainment systems. LoJack mustinessiness continue to market its law enforcement advantage to thwart off this threat.BuyersAt this stage, buyers have relatively limited buying power due to the escape of alternative technology. However, the threat is the heavy reliance on car dealers to wander the product. If there is no incentive to do so, then the buyer may lack the knowledge that would drive the purchase.Intensity of RivalryAlthough the product is in its growing stages, a nd there is no clear competition, the increased activity in this sector could be conducive of a threat to achieve a large enough market share to make the implementation worthwhile. prospect on network level strategyboth LoJack and micro logic embrace the embedded organizational structure. While they both have proprietary technology, they rely on other organizations to leverage these technologies. LoJacks technology would not have been possible without the federation with local law enforcement agencies, Motorola, and little logical system. little logical systems existence had been to partner with organizations to influence its technological imaging to additionally expand the companies that it works for. It would perplex an evenhandedness stand in these companies and take a long term approach. In order for little Logic to be successful in this venture, it would pick up to rely on LoJacks distribution and marketing systems. Not only to sell its products but also to ensure its own financial stability.If LoJack is to review its long term strategy, it must understand that research and development are not at the force of its operation. Motorola is a key component to both LoJack and Micro Logic and has been a strong partner providing spanking assistance. They cannot be relied on to only tender this technology to LoJack. They are a much larger company and will look to broaden their reach. In the fall of 1999 Motorola was already working to pay congest a driving force in the telematics industry and moved to range itself with the major car companies.RecommendationsShort TermLoJack should look to form a free shackle with Micro Logic. This would allow for LoJack to expand into the new market of bend equipment where ingest exist and no clear provider exist. An alliance between these two organizations has a turn out track record and a proven product that can be marketed globally.The alliance should tackle the bodily structure equipment market. This is a m arket that has a strong need for a localization and plus management technology there is no clear market leader and creativity and innovation in products play a vital role to become a leader.The combination of LoJacks proven etymon for tracking and the ability of Micro Logic to develop strong asset management software would allow for strong penetration in this market. Both organizations should look to work in their core areas of expertise. LoJack recognizes how to market and allocate the products and Micro Logic should right away assume the Research &Development purpose. This will allow both companies to continue to drive down cost. LoJack presently has capable cash on hand to assist the need for cash with Micro Logic. At this point, the cash infusion should be done as a low or no interest loan to Micro Logic. The confederation works well over time, Micro Logic can establish if this is their core business. If not, they will be able to sell this product back to LoJack just as it did the first time and move in a different direction or become a secondary firm to LoJack. Motorola is currently working on the 3rd generation LoJack and Micro Logic should work directly with Motorola on this function.Medium TermOnce a clear hold on the social organization market is protected, then the alliance will have the opportunity to move into the trailer market. A proven track record in auto recovery and construction equipment asset management will allow strong credibility and should allow LoJack and Micro Logic to become the market leaders. During this stage both firms will need to determine the structure of the company and if they are able to grow construction equipment sales to the same rate as existing auto sales then LoJack would be in a position to either disembowel Metrologic into the existing organization or turn Micro Logic into a subsidiary.Long TermEmerging markets will be critical to the long term success of LoJack. With a strong foothold on the construction mar ket this area would be a logical first gait into emerging markets as contraction equipment would usually surpass new car sales. Immerging markets will provide the strongest revenue growths for the company and is possible this may need to be moved into the mid-term focus depending on the success for the technology.

Love and Friend Essay

Among my friends, I appreciate the most is Ha.She is a good student of my class, she lived with her parents in a mild house near my house. She has long black hair, oval face and eyeball speak. What particularly struck me about her was the smile. She looks so cute when he smiles. She is a form of friends that I can share eitherthing. She always believed and helped me in every(prenominal) situation. She is friendly, gentle and endearing all friends. She alike(p)s Literacy, reading, listening to music and go downstairs heaven mua.Chung I have a lot in roughhewn with each other, has become good friends over the past 5 years. Although prison term has passed long in any case, Im and Ha in like manner trying to keep this friendshipLove is the ultimate prize in life, the present that I am most thankful for. The description of turn in is gear up in every smile, every pounding heart, and the sweet gustatory sensation of every single kiss. Love is an emotional purporting deep in side(a) the homophile soul so that, In this essay I would like to describe about my love .shes absolutely the most fearful and sweetest individual in the world to me. She always cheers me up if I am ever upset. I love her more than anything in the whole world and she cares more about me than anything else She treats me as if I were the most beautiful person in the world and never fails to tell me that She loves me. She tells me that she loves the way my eyes lighting when she tells me how much she loves me.She is so beautiful . she has long pretty red hair. SHe is so smart and beautiful and funny and nerdy and cool. She makes me love her by loving me. She makes me feel good about myself in ways I didnt gauge I could possibly feel good about. Like the way I chew my lip or the way my voice sounds.. She tries to help me with my provision and its funny because shes so smart and Im so dumb and I never understand what shes verbalize and I end up just kissing her because, math is dopy and shes gorgeous. she is just amazing. she is just perfect and shes my other half. Her piss is An and I really want to say with her that thank you for being a part of my life Love is the ultimate prize in life, the gift that I am most thankful for. The description of love is found in every smile, every pounding heart, and the sweet taste of every single kiss. Love is an emotional feeling deep inside the human soulLove looks like the wind, because it is not literally visible. However, it can be felt, giving proof to the saying that sometimes you have to believe to see. The only way of seeing love is through the ways people convey it.

Tuesday, February 26, 2019

Oedipus the King Essay

One of the most burning(prenominal) literary devices employ by Sophocles in his move Oedipus the King is what is kn testify to modern critics as the Greek Chorus. The chorus line was an authorized part of Greek tragedy, not just now in the plays of Sophocles, simply in the work of many other playwrights as vigorous. Sophocles, in addition to incorporating well-known myths and historical motifs into his play, used the chorus as an additional method by which to ensure the auditory modalitys concord of the execution on the stage.He overly used the chorus to ease the listening to feel a adept of a participation in the pull through of the play and to direct their sense of the plot and to focus the audiences sympathy on appropriate characters. The use of the chorus in Greek tragedy was, as mentioned, a common literary device, but Sophocles is well known for being a creative adapter of conventions and in his hands, the chorus functions in myriad capacities, some obvious an d some subtle.In order to appreciate the importance of the chorus in a play like Oedipus the King, it is crucial to first have an understanding of how the chorus conventionally functioned in Greek tragedy. Physi discovery, the chorus was made up of an anonymous sort out of fifteen (Taplin 12) who, in addition to functioning as characters within the play, proper, overly participated in the orchestra, providing musical accompaniment on the aulos, a double organ pipe with reeds the aulos-player stood in the orchestra, to a fault in tragic costume (Taplin 12).The chorus also chanted, snag, and danced the choral odes which divide the acts of tragedy (Taplin 12) while occasionally vocalizing or chanting in lyric communication with the actors (Taplin 12) . In addition to these roles, the traditional chorus also featured a leader the koryphaios, probably magisterial slightly by costume (Taplin 12) who might also contribute dialogue to the play. Furthermore, the chorus held a con notation for Greek audiences which is all but unknowable to modern observers and this connotation relates to the presence of chorale bodies of chorus-like arrangements in everyday Greek society.Even the rudimentary aspects of the chorus in its theatrical incarnation singing and dancing, held for the Greeks, a very different social and cultural resonance than for moderns. In Greek life, a chorus was an integral part of many common occasions, religious and secularfestivals, weddings, funerals, victory celebrations, (Taplin 13) and the chorus also helped to l annul a sense of ritual and ceremony to all festive occasions in Greek life (Taplin 13).As such, the chorus as a literary device held for the Greeks in relation to theater a prominent and important place in the performance as a whole (Taplin 13). The differentiation between ancient and modern observers is a very important note to make when discussing the Greek chorus as a literary device. preferably simply, for the modern o bserver, the best understanding of the function of the chorus may well be that the modern observer should regard the chorus as a kind of bridge between the mythical fill of the play and the audience who observes this action.In fact some critics assert that this bridge role was also mean by Greek playwrights who used the chorus and specifically intended to be used this way by Sophocles in Oedipus the King. For these critics, the chorus represents an idealistic spectator that directs our thought and attention (Hogan 44) and this is an intentional function of the chorus as a literary device as adopted by Sophocles. Obviously, in its function as a bridge between the audience and the action on the stage, the chorus in Oedipus the King plays a pivotal, rather than decorative role.For good example, in relating a sense of irony to the audience, the chorus is used by Sophocles specifically On three occasions (Hogan 21) to provide a central point of ironic realization on the audiences b ehalf. Therefore, when Oedipus defends his naturalness both he and the chorus of Athenians remain profoundly sensitive to the taint that still clings (Hogan 21) while, similarly, when Oedipus rationalizes the murder (Hogan 21) he invokes the sense of the chorus-as-court-of-law.The irony, of course, being that both the chorus and the audience are sympathetic to the plight of Oedipus just as it is hoped on Oedius behalf that A court of law would be sympathetic (Hogan 21). Another example is when Oedipus speaks to the chorus and says I pray deity that the unseen killer, whoever he is, and whether he killed alone or had help, be cursed with a life as evil as he is, a life of utter serviceman deprivation. (Sophocles 28, 297-300).Here, the coryphaeus, or leader of the chorus, also speaks lines which, ironically, indicate that he is thinking of the killer, who is untold nearer for questioning than he knows (Hogan 36). Each of these uses of the chorus by Sophocles heightens the sense of irony in the play while simultaneously promoting a sense of audience involvement and, obviously, forwarding the plot of the tragedy. The chorus is exceptionally important as a device in helping to direct the action of the play to and through the climax. The verbal interplay between Oedipus and the chorus increases near the end of the play.By inspecting Oedipus words (and to the Chorus) during the final part of the play, we will check out what beliefs and allegiances have survived (Sophocles 14) and what little glimmer of redemption can be give tongue to to exist in the plays tragic climax and viewing can be gleaned from the words of the chorus, which close the play. Although Oedipus closing speeches are make full with pain and lamentation, the human world remains to him as he hears the vowelize of the Chorus. Clarity and poise return as he tells the Chorus it was Apollo who undone his life, but that it was he and no one else who chose to strike out his own eyes (Sophocles 14).The chorus,then, emerges as the target Oedipuss confession and the implied target of the lesson of his story. The audience, of course, is the chorus and vice-versa, so that the closing lines of the play Dont call a man gods friend until he has develop through life and crossed over into death never having been gods victim (Sophocles 67, 1765-1766) emerge as the cathartic lesson distilled from the mythic action of the story, by way of the chorus, to enrich the audiences understanding.Works Cited Hogan, crowd together C. A Commentary on the Plays of Sophocles. Carbondale, IL Southern Illinois University Press, 1991. Sophocles. Oedipus the King. Trans. Robert Bagg. Amherst, MA University of mammy Press, 1982. Taplin, Oliver. Greek Tragedy in Action. London Routledge, 2003.

Influence of Western European Economy on Migration Since 1945 Essay

after(prenominal) the end of the second knowledge base war, legion(predicate) atomic phone number 63an countries suffered from the effects of the war and the future of the continent was in doubt. Most countries had a hard time rebuilding and recup succeederionting their economies from the subsequentlyshocks of the war. The western mapping of europium, after a torrid time of scotch and political hardship, began to restore and rebuild their countries. In the historic period that came after the war, the countries in the western kingdom had to enact cooperative measures with each opposite as opposed to competing with each other to ensure that they survived the torrid period together. This period was marked by complex processes with the rolling out stinting programs that would reduce trade barriers among the countries and this rosiness sw allowed a period of significant economic development in the percentage. The migration bill of Europe represents an unplanned developm ent and unin decennaryded occurrence. It represented a gang of labor unsettleds, colonial migrants and bema seekers (Schonwalder, 2003). This essay will establish the linkup between successful economic periods in western Europe and the directs of migration into these areas.The postwar migration can be categorized into two phases a regime which make water-to doe with colonial migration and that which involved the migration of guest workers. Those migrated came to look for work opportunities which were created by the ten recovering and booming economies in Hesperian Europe. In the 1970s, there was an interaction of economic deficiencies with colonial migration before the war. This also interacted with the existing citizenship regulations in countries much(prenominal) as France, Belgium, UK and the Netherlands while countries such as Austria , Denmark, Germany Sweden and Switzerland had apply guest-workers policies that were a major attraction for foreign migrants. German y enacted a currency reform in 1948 which instigated the recovery of its deliverance. In mid 1950s, the earth along with the others in the western voice of Europe experienced high labor demand levels that could non be satisfied locally. A unanimous pattern in westbound Europe at that time involved sourcing of labor from the eastern interrupts of Europe as they believed that migrants from those parts could be integrated easily into their systems. This expanded into the northern countries in Africa and countries near the periphery of middle east such as Turkey. The countries arranged guest-worker system of ruless among themselves and other bear oned countries out of their region.Trade unions especially in Germany power saw the guest-worker programs as a threat to existing enlist pass judgment as they feared that they would experience a downward spiral at the end. Governments in western Europe particularly Germanys incorporated measures that ensured that the guest workers enjoyed the impact work conditions as their European counterparts. The basic principle fag the scheme of guest-workers was that that the foreign workers would re master(prenominal) in the countries as long as they held their jobs and would break back to their native countries one time the economy started to perform badly. In Germany for example, many guests-workers left the country during the 1968 economic recession with the guarantee that they could return when the economy recovered and the labor demand went up again.In the early 1970s, the colossal numbers of migrant workers in the European market were causing an economic slowdown and most of the countries responded to this by stopping the migration programs in 1973. This, however did non result into the intended result of migrants moving back to their countries. Many guests-workers remained in the countries where they received help from NGOs and charitable organizations in addition to favorable move judgements which permi tted their stay. This case was most prevalent in Germany. Countries such as France, Sweden, Austria, Belgium, Switzerland and Holland implemented varying forms of the guest-workers policies which sharply decreased the extent of migration related to labor from 1973 onwards.In the other regime of labor migration touching on colonial background, symmetric and multilateral agreements in regard to guest-workers became the sole supply of migrant labor. UK, Netherlands, France and Belgium had the capacity of drawing huge numbers of botchy laborers. Policymakers were thought to have tapped at the opportunity colonial labor offered to satisfy the boom experienced after the war unless this was not the case. The inability to secure domestic workers meant that the policymakers had to aver on colonial migrants to feed the labor demand. This was loosely practiced in France and UK with limited implementation in Belgium and the Netherlands (Schonwalder, 2003).In the postwar period, UK put into footrace its version of the migrant worker scheme by sourcing workers from the Eastern part of Europe. However, the local economy became sluggish and this reduced the lure component part that UK had on migrant workers. Countries such as Germany, France, Austria and Switzerland were more(prenominal) appealing and attractive to migrant workers from eastern Europe countries. The UK economy was not on the same level with the rest of western Europe but its situation with guest-workers were compound by its citizenship program which integrated over half a billion colonial subjects into the countrys fold.In 1948, UK had in place legislation that affirm all of its former colonial subjects as the countrys citizens with rights to drop and enjoy all social, economic and political rights within the country. The resulting occurrence was the influx of migrants of Indian and Pakistan origin in the country. The economy of the country enjoyed a bounteous employment rate at the time and there were labor shortages which the migrants helped to correct. By 1962, UK had over half a million non-white colonial migrants and this marked the start of restrictive measures that regulated the inflow of colonial migrants. The figure of non-white colonial migrants had locomote to over a million by 1972, a period which saw UK cut on the privileges associated with UK nationality status at the time (Strayer, 2009).France on the other hand difficult on migrants from northern Africa particularly from Algeria though not a former French colony. The supply of the labor migrants was hampered by climax from Germany and Switzerland which were experiencing increased economic growth. This shortened the supply of labor in France and the interest of the European nations in colonial labor resulted to an increased migration of Algerians into the country as they had the right to enter France, a case similar to that of UK. French companies sourcing for twopenny labor looked to Algeria, Tunisia an d Morocco as credible sources of such labor. The system was tighter in Austria, Germany and Switzerland but the French took the opportunity to directly hire colonial migrants into their companies and confirm their nationality status afterwards through the National Immigration Office (Foley, 1998).In new-made decades from the 1980s, the largest percentage of migrants into Europe have come from West Africa. This has been accentuated by natural poverty levels, high rates of unemployment and political instability in just about of the nations. This has been enhanced by the perception held by many people that Africa is a continent plagued by miseries of all kinds. Despite these challenges afflicting people in Africa, the reassure of a better life and economic conditions in the dominant Western Europe countries offers a unique attraction to African migrants into the economically actual countries. The European economy is a major contributor to the success of the world-wide economy and presents numerous lucrative and medium scale job opportunities for skilled, semi-skilled and unskilled laborers from all walks of life. The prevailing excellent economic conditions act as the main pull factors for migration into the more popular countries in Europe such as Germany, France and UK. These countries offer a chance for many migrants who are driven by the sheer aspiration to live in a western country. After many African countries gained independence, the education systems were hugely improved and this resulted into the outlet of extremely wise(p) and qualified personnel . The demand for expatriates and skilled labor in the Western European economy presented a abundant chance for the learned people to move abroad and try their luck with corporate and technical jobs. Most colonial powers had projects that flew talented students in their countries to present better academic opportunities for Africans. In the current era, a significant number of migrants in the Western p art of Europe are students who come to achieve advanced educational dreams. The European countries are well economically developed which translates into quality education structures which are among the best in the world. Many students of African, Indian and Asian line of reasoning migrate to these countries to tap into the great educational opportunities that are present in these countries (Schonwalder, 2003).Migration patterns are created through network functionality. Which leads to the rise of migration systems that act as relate to origin and destination countries through an established exchange of products, people, information and slap-up remittances. The systems may be ratified or informal but all contribute to the continous cycle of family and labor migration . Currently,many countries in Western Europe conduct more attention to migration of skilled laborers who are viewed as capable of bettering their economic growth. The UK and Germany have taken significant steps towa rds this priority by event work permits to the highly-skilled labor migrants. This attracts many professionals who believe they have a great chance of succeeding in those countries. In 2000, Germany introduced a green circular program aimed at attracting over 20000 highly qualified workers. This was in prosecution of further economic boost, a factor that acted well in natural elevation the migration levels in the country and therefore into Europe. In a period spanning from 1999 to 2004, France has seen the number of foreign migrant rise from 376000 to more than 570000 which signifies a rise of 35000 migrants annually. These migrants were mostly of African descent who came to France for educational. Job and resettlement purposes. In Britain and the Netherlands, the levels are not too far apart from those in France with an annual inflow of more than 10000 migrants being reported. These migrants come into these countries either illegally or legally. The legal form of migration dif fers with the driving motive of the migrants (Foley,1998). This brings in the third aspect migration into Western Europe fuelled by the economic success enjoyed in this region.Many countries in Western Europe enjoy unperturbed peace and economic stability. exclusively of them are members of the United Nations and are bound by the regulations and principles that are nerve center to the operations of the United nations. In recent years dating from the 1970s into the new millennium some African countries have suffered from political instabilities which have resulted into civil unrests in those countries. The civil unrest acted as the push factor which caused many migrants to leave their war stricken countries. However, the choice of their destination country was mainly influenced by , the economic stability of that country. Many western European countries presented this option and represent viable choices where the migrants can be granted asylum and thrive under better humanitarian c onditions as opposed to next countries. The migrants go against all odds to reach the European mainland with the hope that once they are there, they will find ways of integrating into the local population and tap into the available opportunities of work and settlement. In the 1980s, asylum applications had reached 320000 and more than two-fold from 1992 in Germany. In Britain the numbers hit the 100000 mark. Most of these migrants are offered refugee status but their main aim of coming to these countries is to find a better a life away from their native countries. This notion is enhanced by the high economic performance levels identified with the European economy(Strayer, 2009).In the European region, specifically the western part offers the second largest intra-regional migration of workforce behind America. Most of the migrants in this region have been attracted to this place by the opportunity of successful lives in countries and regions experiencing economic booms. However, the uncontrolled number of illegal migrants poses a challenge to them and the same economy that attracted them to these countries. Most of these migrants are mostly concentrated in low-skill tertiary sectors of the dissimilar industries present in the region. With the recent economic crisis in the world and in the European region, most of the migrants were faced with various vulnerabilities associated with economic pressure as they depended on unsustainable resources and their status as migrants barely made matters worse for them. In light of the economic problems that afflicted the region in 2008,. The countries in the region in conjunction the whole EU body started to enact immigration policies that would control the levels of migration during the hard economic conditions. These policies were proposed and enacted to justification the labor sector from increased worsening conditions and to protect the existing wage rates which had a significant effect of the economic downturn at the time (Kaelble, 2011).In conclusion, it is clearly evident that many push and pull factors that have influenced migration into Western Europe. However, the economic success that the region has enjoyed in the years after the second world war in the current era of economic recessions and recoveries acted as a major influence in ascertain which part the migrants moved to. The economic conditions in this region provided numerous opportunities for the migrants to progress their lives and mould a successful future. With the demand for labor souring in the region at one time and the advent of excessive inflow of migrants through various economic periods shaped by both success and downturns, the main pull for migrants to the western part of Europe was the economic development that Europe was identified with.ReferencesFoley, B. J. (1998). European economies since the Second valet War. New York St. Martins Press.Kaelble, H. (2011). The social history of Europe, 1945-2000 recovery and tr ansformation after two World Wars. New York Berghahn Books.Schonwalder, K., Ohliger, R., & Triadafilopoulos, T. (2003). European encounters migrants, migration, and European societies since 1945. Aldershot, Hants, England Ashgate.Strayer, R. W. (2009). Ways of the world a apprize global history. Boston, MA Bedford/St. Martins.Source document

Monday, February 25, 2019

Sample design for Blackberry

In ensample dispersal, an element is the object (or person) about which or from which the culture is desired. In survey research, the element is unremarkably the respondent. A community Is the measure of all the elements that sh atomic number 18 around common set of characterlstlcs. Element Objects that birth the in skeletal systemation the tec seeks and about which the police detective will make inferences. commonwealth The aggregate of all elements, sharing some common set of characteristics, that fol lowly the universe for the purpose of the marketing research roblem.The researcher can hold in Information about creation parameters by taking either a census or a sample. Census a complete enumaration of the elements of a population or study objects. Sample A subgroup of the elements of the population selected for involvement in the study. sample Large cartridge holder uncommitted Population surface the characteristics Conditions Favoring the use of Factors census B udget Short Large Small pocket- coatd Long Small Variance in Large Cost of try out fault High Cost of nonsampllng errors High Low Nature of criterion Nondestructive Attention to individual consequences NoAdvantages of taste constitute saves time and m wizardy sample saves labor. Destructive Yes A sample coverage permits a higher boilersuit level of adequacy than a full enumeration. Complete census Is ofttimes unnecessary, wasteful. and the burden on the public. 1) Define the Population take design begins by specifying the crisscross population, which should be defined in terms of elements, ingest units, completion and time frame. Population/Target population This is any complete, or the theoretically specified aggregation of study elements. It is usually the ideal population or universe to which esearch results are to be generalized.Survey population This is an operational definition of the buttocks population that is target population with explicit exclusions-for exam ple the population accessible, excluding those outback(a) the country. Element (similar to unit of analysis) This is that unit about which information is collected and that provides the stand of analysis. In survey research, elements are people or certain types of people. Sampling unit This is that element or set of elements considered for selection in some confront of try out (same as the elements, in a simple single-stage sample).In a ulti-stage sample, the move over unit could be blocks, households, and individuals within the households. Extent This refers to geographical boundaries. Time frame The time frame is the time period of interest. In our case Population/ target population = berry users Survey population = blackberry users between the age of 18-24, which refers to university students regarding the demographical factors. Elements = Blackberry users who are university students Sampling Unit = Blackberry users in the Business nerve Faculty of Istanbul University. E xtent = Business Administration Faculty of Istanbul UniversityTime cast = 2 weeks between 4-15 November Given the large surface of the target population and limited time and m one(a)y, it was clearly not TeaslDle to Intervlew tne entlre BlacKDerry users, tnat Is, to take a census. So a sample was taken, and a subgroup of the population was selected for participation in the research. Our sample/ subgroup can be seen above. 2) Determine the Sampling Frame A take in frame is a representation of the elements of the target population. To be specific, this is the actual constitute of taste units from which the sample, or some stage of the sample, is selected.It is plain a be given of the study population. Sampling frame of our case = distinguish of the students in the Business Administration Faculty of Istanbul University. 3) Select a Sampling Technique Selecting a take in technique involves choosing nonprobability or probability sampling. Nonprobability sampling relies on the personal impression of researcher, rather than possibility in selecting sample elements. Convenience Sampling as the name implies, involves obtaining a sample of elements found on the convenience of the researcher. The selection of sampling units is left primarily to the interviewer.Convenience sampling has the advantages of being both inexpensive and fast. Additionally, the sampling units tend to be accessible, booming to measure, and cooperative. Judgement Sampling The researcher selects the sample based on Judgement. This is usually and extension of convenience sampling. For example, a researcher whitethorn decide to back away the entire sample from one representative city, even though the population includes all cities. When using this method, the researcher essential be confident that the chosen sample is truly representative of the entire population.Quota Sampling introduces two stages to the Judgemental sampling process. The first stage consists of developing control c ategories, or quotas, of population elements. development Judgement to identify applicable categories such as age, sex, or race, the researcher estimates the scattering of these characteristics in the target population. Once the quotas have been assigned, the second stage of the sampling process takes place. Elements are selected using a convenience of Judgement process. Considerable freedom exists in selecting the elements to be included in the sample.The simply requirement is that the elements that are selected fit the control characteristics. Snowball sampling is a special nonprobability method apply when the desired sample characteristic is rare. It may be extremely tough or cost prohibitive to decide respondents in these situations. Snowball sampling relies on referrals from initial subjects to gene calcu recent supernumerary subjects. While this technique can dramatically lower search costs, it comes at the expense of introducing bias because the technique itself reduc es tne II population.Kellnooa tnat tne sample wlll represent a good ross section Trom tne Probability sampling in this kind sampling elements are selected by chance, that is, randomly. The probability of selecting each potential sample from a population can be prespecified. Simple Random Sampling is the purest form of probability sampling. Each member of the population has an equal and known chance of being selected. When there are very large populations, it is often difficult or impossible to identify every member of the population, so the pussy of available subjects becomes biased. Systematic Random Sampling is often utilise sort of of random sampling.It is also alled an Nth name selection technique. After the undeniable sample size has been calculated, every Nth record is selected from a list of population members. As long as the list does not check any hidden order, this sampling method is as good as the random sampling method. Its only advantage over the random sampling te chnique is simplicity. Systematic sampling is frequently used to select a specified number of records from a computer file. Stratified Random Sampling is commonly used probability method that is superior to random sampling because it reduces sampling error.A stratum is a subset of the opulation that share at least one common characteristic. Examples of stratums might be males and females, or managers and non-managers. The researcher first identifies the relevant stratums and their actual representation in the population. Random sampling is then used to select a sufficient number of subjects from each stratum. Sufficient refers to a sample size large enough for us to be slightly confident that the stratum represents the population. Stratified sampling is often used when one or more of the stratums in the population have a low incidence relative to the other stratums.Cluster Sampling may be used when it is either impossible or impractical to compile an exhaustive list of the elements that make up the target population. Usually, however, the population elements are already sort into subpopulations and lists of those subpopulations already exist or can be created. For example, lets say the target population in a study was church members in the linked States. There is no list of all church members in the country. The researcher could, however, create a list of churches in the United States, choose a sample of churches, and then obtain lists f members from those churches. ) Determine the Sample size The statistical memory accesses to determining sample size are based on confidence intervals. These approaches may involve the estimation of the mean or proportion. When estimating the mean, ending of sample size using a confidence interval approach requires a specification of precision level, confidence level, and population standard deviation. In the case of proportion, the precision level, confidence level, and an estimate of the population proportion must De sp eclTlea. I ne sample size aetermlnea statlstlcally represents ne Tlnal or sugar sample size that must be achieved.In order to achieve this nett sample size, a much greater number of potential respondents have to be contacted to account for reduction in response due to incidence rates and completion rates. Non-response error arises when some of the potential respondents included in the sample did not respond. The primary causes of low response rates are refusals and not-at-homes. Refusal rates may be trim back by prior notification, actuate the respondents, incentives, proper questionnaire design and administration, and follow- up. The percentage of not-at-homes can be substantially reduced by callbacks.Adjustments for non-response can be made by subsampling non-respondents, replacement, substitution, subjective estimates, trim down analysis, weighting, and imputation. The statistical estimation of sample size is even more confused in international marketing research, as the po pulation variance may differ from one country to the next. A preliminary estimation of population variance for the purpose of determining the sample size also has honorable ramifications. The Internet and computers can assist n determining the sample size and adjusting it to a count for expected incidence and completion rates.Sampling distribution the distribution of the value of a sample statistic computed for each possible sample that could be drawn from the target population under a specified sampling plan. Statistical inference the process of generalizing the sample results to the population results. Normal distribution a basis for classical statistical inference that is bell make and symmetrical and appearance. Its measures of central tendency are all identical. Standard error the standard deviation of the sampling distribution of the mean or proportion.Z values the number of standard errors in point is away from the mean relative incidence rate the rate of occurrence of pers ons eligible to participate in a study expressed as a percentage Completion rate the percentage of qualified respondents to complete the interview. It enables researchers to take into account anticipated refusals by people who qualify Substitution a procedure that substitutes for nonrespondents other elements from the sampling frame that are expected to respond I rena analysis a metnoa 0T a0Justlng Tor nonresponaents In wnlcn tne researcner tries to discern a trend between early and late respondents.This trend is projected to nonrespondents to estimate their characteristic of interest Weighting statistical procedure that attempts to account for non-response by assigning differential weight to the data depending on the response rate Imputation a method to adjust for non-response by assigning to characteristic of interest to the nonrespondents based on the similarity of the variables available for both nonrespondents and respondents.

Research Papers on Ready to Eat Food

CRISES Paul Krugman, January 2010 As this is formally chronicle on this program as the Nobel lecture, I suppose that Im expect to focus on the work for which I was honored with the prize. And in so far proud as I am of the work I and legion(predicate) other(a)s did on increasing-returns trade and economic geography, given what is happening in the orb and given what Ive vauntinglyly been running(a) on these past twelve years that work is non upper to the highest degree in my mind. Fortunately, on that points an out.The Nobel committee did cite another line of work that goes back to the out hard-boiled good paper I ever wrote A model of equipoise of payments crises, published in 1979 simply originally written while I was in still in grad school. When Im in an expansive mood, I like to say that I invented property crises not the thing itself, which goes back to the invention of paper money, but the modern academic writings. And business has been good ever since.Now, m ost of what has gone wrong with the domain of a function these past two years has not stockpilen the form of upright silver crises (though give it clock the Baltic nations, in particular, seem soundly positioned to follow in Argentinas footsteps). provided in that respect atomic number 18 strong parallels among the kinds of crises we rattling leave been experiencing and what those of us in the notes crisis biz call third-generation crises. Both the similarities and the differences are, I think, illuminating. 1So without but ado, let me launch into a discussion of currency crises, their relationship to fiscal crises in general, and what all of that tells us round on-line(prenominal) prospects. A storey of violence The sudden implosion of world monetary markets, trade, and industrial production in 2008 shocked many if not most economists. I think its fair to say, however, that planetary macroeconomists were less startled. Thats not to say that we predicted the cr isis speechmaking in person, I saw that we had a monstrous housing sing and expect bad things as it deflated, but two the form and the scale of the crease surprised me.What is true, however, is that international macroeconomists were a contende, in a way those who foc utilize in the first place on domestic data were not, that the world frugality has a tarradiddle of violence. Drastic events sudden sorry attacks that emerge out of a manifestly clear blue sky, abrupt economic implosions that slash very gross domestic product by 5, 10, even 15 percent are regular occurrences on the international scene. Let me illustrate the point with the figure below, which shows peak-to-trough declines in real gross domestic product during third generation currency crises (a term Ill pardon in a little while).This list is close to, but not identical to, the Reinhart and Rogoff (2009) list of banking crises as R&R point out, crises ofttimes combine elements of several of their i fill out types. What Ive done in this cocktail dress in a poor mans homage to Reinhart and Rogoffs awesome data-collection effort is scan the Total Economy Database for all cases of s come up GDP declines in high-and middle-income countries since 1950, then do some cursory historic research to ask whether they fit the profile of a third-generation crisis. 2 GDP declines in third-generation currency crises Mexico 1994 Korea 1997 Chile 1981 Malaysia 1997 Finland 1990 Thailand 1997 Indonesia 1997 Argentina 2002 5 10 15 20 A few observations First of all, were talking huge declines here Depression-level, in some cases. You can see why international macroeconomists were more attuned to the possibility of disaster than domestic macroeconomists if you were looking only at US data, your idea of a really bad slump would be 1981-1982, when real GDP fell only 2. 3 percent. Second, if you k instantly a bit about the history, you get a very strong mother wit of just how wrong conventional wisdom c an be.Reinhart and Rogoff emphasize the this time is diametrical syndrome, the way people wave off clear parallels to former crises. Id go a bit further and argue that theres a strong pride goeth before a take syndrome. In many if not all of these cases, the dry land in gesture was everybodys darling just before the disaster. Chile was a showpiece for Chicago School policies in action. I remember personally the enormous optimism about Mexico on the eve of the tequila crisis I was very less-traveled at a 1993 meeting of investors where I raised some questions about prospects.Argentinas currency board was lionized by the Cato Institute, the Wall highway daybook editorial page, and so forth. The countries caught up in the eastern hemisphere Asian crisis were the subject of glowing reports, including a study World Bank study. 3 by and by the incident, of course, everybody saw many flaws in each afflicted countrys economic model just as everyone now sees the depravity of t he U. S. financial system, a system that was being praised just yesterday as one of the wonders of the world. Finally, note that half my examples are from the late-90s easternmost Asian crisis.That crisis had a profound effect on some of us. Nouriel Roubini was transformed from a mild macroeconomist into Doctor Doom. I lost my faith in the meliorate powers of central bankers, and wrote the original edition of The Return of Depression Economics. In essence, the East Asian crisis awakened us to the particular that there were more dangers in the world economy than were dreamt of in textbook macro. unless what were these dangers, anyway? Generat(ion)ing crisis solely crises are divided into three parts. OK, whitethornbe not. But the currency risis literature has evolved in three generations, successive accounts of what can cause sudden speculative attacks on currencies. First-generation models began, at least(prenominal) in my mind, with wise words from the regulator of the Bank of Portugal. Back in 1976, a group of MIT graduate students was working at the Bank, thanks to a personal connection between the regulator and Dick Eckaus. Portugal at the time was 4 a bit of a crazy place, still suffering from the mild chaos that followed the overthrow of the dictatorship the year before.The economy had stabilized after an initial slump, but the currency was chthonic pressure, with reserves rapidly dwindling. It turned out later that most of the reserve loss was imputable to strange exchange hoarding by commercial banks which was kind of funny, since at the time those banks were state owned. But in any case, the governor made a remark that intrigued me When I hurl six months of reserves, he said, I go out corroborate no reserves. What he meant was that once reserves dropped below some critical level, there would be a run on the currency that would quickly exhaust any(pre tokenish) was left.There were already economic models like this, albeit of very recent time of origin and not only about foreign exchange. Notably, Salant and Henderson (1978, but circulated as a working paper in 1976), in an compendium of gold prices, inclined part of their paper to attempts to stabilize gold prices with stockpiles. They showed that an unsustainable stabilization scheme would at last collapse in a speculative run that quickly faltering the remaining stock, which is more or less what happened in March 1968. I realized that this was in effect what Silva Lopes had been saying about the escudo.Translating that acuteness into a fully-specified model was a bit tricky. Krugman (1979) was more complicated than it should view been it took the work of Flood and Garber (1984) to get it in comprehensible form. But the bequeath was a extremely suggestive analysis of speculative attacks on stiff exchange rates. 5 But there were puzzles with that analysis. Some complained about the un commensurateness between super smart speculators and super stupid pr esidencys. More compelling, in my view, was the fact that the story didnt seem to fit very well with what actually happened in many currency crises, peculiarly in good countries.For example, neither the superior crisis of 1931 nor that of 1992 seemed to be mainly about dwindling foreign exchange reserves. Instead, both seemed to be about governments who found that their commitment to a fixed exchange rate was interfering with attempts to achieve domestic objectives, especially full employment. When speculators began to bet on an abandonment of the currency peg to deal with pressing domestic concerns, spiking interest rates sharply increased the bell of defending that peg hence, a crisis, with speculators in effect forcing the governments hand.In an influential survey of evidence from the 1992-1993 European crisis, of which the fall of sterling was one component, Eichengreen, Rose, and Wyplosz (1995) coined the term secondgeneration models to describe models that tried to captur e this quite different kind of crisis dynamics. The most influential modeling came from Obstfeld (1994), who showed that this kind of analysis powerfully suggested the possibility of multiple equilibria countries in a vulnerable state could get word a currency crisis whenever investors believed that such a crisis was imminent, or for that matter believed that other investors believed in a crisis.But two generations of crisis theory, it turned out, were not enough. Second-generation crisis models suggested that succumbing to a speculative attack should be good for employment and GDP no longer constrained by the exchange rate commitment, a government would be free to 6 expand demand. That is, in fact, what happened in the wash of the two sterling crises, 60 years apart I used to joke that Britain should erect a statue of George Soros in Trafalgar Square, to thank him for acquiring the UK out of the ERM.But its not what happened to Mexico after the tequila crisis, or the East Asian e conomies after the crises of 1997, or Argentina after the collapse of convertibility in 2002. In all these cases the collapse of a fixed rate under speculative attack was followed by a severe contraction in the real economy. Hence the development of third-generation models. These models e. g. Krugman (1999), Aghion et al (2001), Chang and Velasco (1999) emphasized private-sector balance sheets, especially firms or banks with foreign-currency debt.The key argument was that a currency derogation set off by speculative attack would sharply worsen balance sheets, as the domesticcurrency rank of foreign-currency debt rose. This in turn would damage the economy, e. g. by uncheerful investment, which would feed back into further currency depreciation, and so on. Some models worried the possibility of multiple equilibria, but even without such multiplicity there was the clear possibility of disproportionate depreciation and out couch decline from an adverse shock, including the end of a bubble payd by foreign capital.Or to put it a different way, what happens in a third-generation currency crisis is a fell circle of deleveraging. Hence the severe cost to the real economy. One question you mightiness ask is whether this diagnosis is all ex-post rationalization. Did the theory of third-generation currency crises actually succeed in predicting any crises? The answer is yes Argentina, which, alas, played out exactly as expected. 7 Before I proceed to the relationship between currency crises and the financial crises that have afflicted all of us recently, let me briefly ighlight two form _or_ system of government issues that arise in the context of third-generation crises. First, does this analysis argue that troubled economies with large foreign-currency debt should subjugate currency depreciation? This is a highly relevant question right now for the Baltics, which, as Ive already mentioned, are currently in a situation highly reminiscent of Argentinas position just before the collapse. It might seem, given the account Ive just provided, that Latvia or Estonia should do anything doable to avoid devaluation. But thats not right.Suppose that the underlying problem is a level of prices and wages that makes your production uncompetitive typically the mo of an earlier period of excessive capital inflows. Then what must happen, kinda or later, is a decline in prices and wages relative to those in your trading partners a real depreciation. This can happen through nominal currency depreciation but this has the unpleasant consequence that the real value of foreign currency debt will rise, creating a deleveraging crisis. Unfortunately, the alternative is worse. Real depreciation without nominal depreciation must take place through deflation.And this operator that the real value of all debt, not just foreigncurrency debt, rises. So the deleveraging crisis will be even worse if you dont depreciate. 8 A second issue concerns the role of capital mobility. Clearly, substantial capital mobility is a prerequisite for third-generation crises, which cant happen unless youve already run up a large foreign-currency debt. And in the crisis, its capital flight that leads to the large depreciation that in turn worsens balance sheets. So there is a clear case for temporary capital controls a sort of curfew on capital flight in the heat of a third-generation currency crisis.But what does all this have to do with the current problems of the United States and other groundbreaking countries? Deleveraging crises similarities and differences In the movie The Longest Day theres a scene involving a German general who is first shown preparing for a war game in which he will play the American commander. He tells his aide that he plans to surprise everyone by landing, not at Calais, but in Normandy but not to worry, the Americans would never do that. Then, when the invasion begins, he mutters, Normandy How stupid of me Now you know how some of us felt as the current crisis unfolded. By 2006, huge U. S. urrent account deficits suggested that the dollar would have to fall eventually, and the fact that U. S. real interest rates werent significantly high than rates in other major economies suggested that markets werent taking that fact into account. So there was reason to expect a Wile E. brush wolf moment a moment of sudden realization leading to a 9 sudden dollar fall. But U. S. external debt, although large, is overwhelmingly dollar-denominated. So America didnt seem vulnerable to a third-generation currency crisis. No worries, then, right? Yet the logic of the models should have suggested that there were, in fact, reasons to worry.After all, a vicious circle of deleveraging could arise as easily on the asset side as on the liability side, as historied in Krugman (2002). It should have been easy to put the evidence of a big housing bubble together with the concepts of third-generation crisis theory to see how a m ean deleveraging cycle could occur without the original sin of dependence on foreign-currency debt. Sadly, about nobody certainly not yours truly put the pieces together. Even those of us who diagnosed that housing bubble correctly failed to foresee the financial implosion that would follow.Normandy How stupid of me But now it has happened. How does the crisis we have actually stumbled into compare with a currency crisis, both in terms of outlook and in terms of the policy chemical reaction? One difference one might have expected to be important is the role of monetary policy. The normal front line of defense force against recession involves cutting interest rates. For a country facing a currency crisis, however, that defense is of ambiguous value cutting rates may help domestic demand, but it may also weaken the currency, intensify the vicious circle.For a country facing an asset-side deleveraging spiral, however, interest rate reductions are all good in 10 addition to their usual effects, they persist asset prices and help balance sheets. So you might have expected central banks to be very effective in fighting asset-price-driven deleveraging. In reality, however, the monetary line of defense was quickly overrun reductions in policy rates quickly ran up against the zero lower bound, and that was that, at least as far as conventional monetary policy was concerned.We should have seen this coming Krugman (2002) laid it all out, but nobody the author include took the message to heart. Meanwhile, theres another difference between currency crises and asset-side crises that makes the latter look worse namely, the fact that asset-price deflation, unlike currency depreciation, has no indirect stimulative effect on the economy. As Calvo et al (2006) have stressed, financial crises in emerging markets are often followed by phoenix-like recoveries, with the downswing giving way to very rapid growth.Key to these recoveries is the fact that a severely depreciated currency makes exports extremely competitive, leading to a large electropositive swing in the trade balance. As with the outturn declines associated with third-generation crises, the violence of these turnarounds is take aback to economists accustomed to the tameness of U. S. data. The figure below shows the current account shiner for each of the cases shown at the beginning of this paper that is, the extent of the swing from current account deficit on the eve of the crisis to the maximum current account surplus following the crisis. 1 Current account reversal as % of GDP 0 Mexico 1994 Korea 1997 Chile 1981 Malaysia 1997 Finland 1990 Thailand 1997 Indonesia 1997 Argentina 2002 5 10 15 20 25 These are awesomely large swings. In part, no doubt, they were due to the import-compressing effect of recession. But mostly they represent a gain in competitiveness due to plunging currencies. Plunging prices of houses and CDOs, unfortunately, dont produce any fit macroeconomic silver lin ing. This suggests that were un in all likelihood to see a phoenix-like retrieval from the current slump.How long should recovery be expected to take? Well, there arent many useful historical models. But the example that comes nighest to the situation facing the United States today is that of Japan after its late-80s bubble burst, leaving serious debt problems behind. And a maximum-likelihood estimate of how long it will take to recover, based on the Japanese example, is forever. OK, strictly speaking its 18 years, since thats how long it has been since the Japanese bubble burst, and Japan has never really escaped from its deflationary trap. 2 This line of thought explains why Im skeptical about the optimism thats widespread right now about recovery prospects. The main argument behind this optimism seems to be that in the past, big downturns in the worlds major economies have been followed by fast recoveries. But past downturns had very different causes, and theres no good reason to regard them as good precedents. life in a crisis-ridden world Looking back at U. S. commentary on past currency crises, whats striking is the combination of moralization and complacency.Other countries had crises because they did it wrong we werent going to have one because we do it right. As Ive stressed, however, crises often perhaps usually happen to countries with capacious press. Theyre only reclassified as sinners and deadbeats after things go wrong. And so it has prove for us, too. And despite the praise being handed out to those who helped us avoid the worst, we are not handling the crisis well fiscal stimulus has been inadequate, financial support has contained the damage but not restored a healthy banking system. wholly indications are that were going to have seriously depressed output for years to come.Its what I feared/predicted in that 2001 paper Intellectually consistent solutions to a domestic financial crisis of this type, like solutions to a third-generati on currency crisis, are likely to seem too radical to be implemented in practice. And fond(p) measures are likely to fail. 13 Maybe policymakers will become wiser in the future. Maybe financial reform will reduce the occurrence of crises major financial crises were much rarer between the end of World War II and the rise of financial deregulation after 1980 than they were before or since.Meanwhile, however, the fact is that the economic world is a surprisingly dangerous place. REFERENCES Aghion, Philippe, Philippe Bacchetta, and Abhijit Banerjee, 2000, Currency Crises and financial Policy with Credit Constraints (unpublished Cambridge, Massachusetts Harvard University). Chang, Roberto and Andres Velasco 1999, Liquidity Crises in Emerging Markets theory and Policy, NBER Working Paper No. 7272. Eichengreen, Barry, Rose, Andrew, Wyplosz, Charles and Dumas, Bernard, Exchange Market Mayhem The Antecedents and slipstream of Speculative Attacks, Economic Policy, October.Flood, Robert, and Peter Garber 1984, Collapsing Exchange Rate Regimes Some elongated Examples, ledger of International Economics, Vol. 17, pp. 113. Krugman, Paul, 1979, A Model of Balance of Payments Crises, Journal of Money, Credit and Banking, Vol. 11, pp. 311-325. Krugman, Paul, 1999, Balance Sheets, The Transfer Problem, and Financial Crises, in Flood, Robert, Isard, Peter, Razin, Assaf, and Rose, Andrew, eds. , International finance and financial crises essays in honor of Robert P . Flood, Jr. , Kluwer.Krugman, Paul 2002, Crises the succeeding(prenominal) generation in Assaf Razin, Elhanan Helpman, and Efraim Sadka, eds. , Economic policy in the international economy essays in honor of Assaf Razin, Cambridge. Obstfeld, Maurice 1994, The Logic of Currency Crises, Cahiers Economiques et Monetaires, Bank of France, Vol. 43, pp. 189-213. Reinhart, Carmen and Rogoff, Kenneth 2009, This Time is antithetic Eight Centuries of Financial Folly, Princeton. Salant, Stephen and Henderson, Dale 1978, Market Anticipations of Government Policies and the Price of Gold, Journal of Political Economy 14

Sunday, February 24, 2019

Petroleum and Supply Chain

A Report On Castrol India Ltd. , Mumbai Assignment Supply fibril Executive digest Castrol India LTD. Castrol India Limited is a Public Limited union with 70. 92% of the equity held by Castrol Limited UK ( fall in of BP Group). From a minor flagrant attach to, with a manage of about 6% in 1991, Castrol India has grown to become the cooperate largest lubricating substance troupe in India with a food grocery divide of around 28%. Castrol India manufactures and markets a range of automotive and industrial lubes. It markets its automotive lubricating substances chthonian 2 brands Castrol and BP.The call offr has leadership positions in most(prenominal) of the segments in which it operates including passenger automobile engine fossil anoints, premium 2-stroke and 4-stroke oils and multigrade diesel engine oils. Castrol India has the largest manufacturing and marketing ne dickensrk amongst the lubricant companies in India. The company has 5 manufacturing Plants cro ssways the country, including a state-of-the-art define in Silvassa. The company carry throughes its consumers through a distribution ne twainrk of 270 distributors, operate over 70,000. retail outlets.From a minor oil company, with a shargon of about 6% in 1991, Castrol India has now grown upto a market share of around 28%. Product and expediencys * Passenger car oil * Gear Oil * Diesel Engine oil * twain wheeler engine oil * Grease * Coolant * Castrol Supply Chain interlocking overview * Manufacturing facilities In India there are 12 occupation facilities with major ones at Patalganga, Silvassa, Tondiarpet, Paharpur. Each take plant has its own capacity in cost of different packing lines and non SKU. * Plant and capacity informationDaily available fill up capacities crosswise current locations(in KL) Single Shift w/o extra clipping*Data taken by project Report Distribution inbound Logistics The base oil for Castrol is centrally purchased by British Petroleum . Some of the Indian refineries too provide base oil to Castrol India Limited. The oil is brought to the plants by tankers from shoreward tanks. Castrol India Limited has four plants-Patalganga, Silvassa, Paharpur and Tondiarpet and in total 12 filling stations.Outbound Logistics Castrol has third tier distributor social system-distributor hubs (CDC/RDC), carrying & Forwarding Agents (CFA) and Distributors. The transportation from manufacturing plant to distributor hub is called primal Transportation (P0). Transportation from distribution centre to carrying & forwarding agency (CFA) (P1), from storage wareho part to warehouse (P2) and warehouse to customer and distributors is called Secondary transportation. The entire country is split into four zones North, East, West and South.There are 30 CFA,2 DC and 4 marine warehouses in India. The diagram below shows the picture set up distribution structure at Castrol India. There are five layers Supplier, Plants, Distribution Hubs, Warehouses and Distributors. Castrol has recently utilise DRM in which get hold of is taked at the CFA aim once the scrutinise at the distributor level falls below an established norm. * The diagram below shows the communicate chain distribution structure at Castrol India. There are five layers Supplier, Plants, Distribution Hubs, Warehouses and Distributors. Castrol has recently put oned DReaM in which penury is acquired at the CFA level once the bloodline at the distributor level falls below an established norm. Global R individually The global reach of British Petroleum is shown in the below mentioned figure. Castrol is a subsidiary of that. homework Process Forecasting Generating achievement imagines is a key work process in the oil and fellate perseverance. output enters are used to elaborate cash flow employ economic shams and to assess reserves in the corporate portfolio. These forecasts involve the financial health of the company and its market v alue.To generate forecasts, the super majors use in-house generator simulators and commercial pretension products, nearly(prenominal) of which exist on the market. Generally, companies use a variety of methods for labor forecasting. Production forecasts for brown fields, i. e. fields currently in issue, are regularly updated with production data getd with off-take volumes. Many production forecasting packet products on the market are generally applied on a fit-for-purpose arse. Reservoir simulation is a standard part of the reservoir engineers toolkit for generating production forecasts.The reservoir models have become more sophisticated over the years, overdue to the increasing computing power available, with the creation of earth models and use of high-technology tools to acquire data for business relationship matching. For brown fields it is special K practice to use a reservoir simulation model and history to match the model with new reservoir data on a regular basis and run the model in forward prediction mode to generate forecasts of oil, catalyst and water production volumes. Use of 3-D seismic data acquisition became widespread in the 1980s and 1990s.This has allowed construction of detailed reservoir models of the subsurface architecture and identification of additional oil (new zones, bypassed oil, etc. ). emergence use of geostatistical models during the 1990s has raised the awareness of risk and hesitancy and their impact on decision-making. The driving force has been to reduce the bandwidth of uncertainty, i. e. to narrow the range of uncertainty by victimization fourfold realisations. Systematic application of statistical techniques whitethorn be used to understand the predicted reservoir behaviour and the range of production forecasts.Production forecasts can in addition be generated using traditional methods, such(prenominal) as decline curves. Classical reservoir engineering methods, such as real(a) balance, should also be in the reservoir engineers toolbox. It is most-valuable to recognise that the reservoir simulator should not be used as a black box. For history matching, the production data has to be quality-checked to hold back good quality sway and validity. The forecasts generated by a reservoir simulator should be consistent with other reservoir engineering methods that are used, for example, in gas field P/Z plots (i. . the visual image of the gas actual balance, where the original gas volume equals the remaining gas volume positive(p) the volume of gas produced). Future flairs in real time production forecasting with automatic history matching willing include production data and 4-D seismic data, the creation of geo statistical models and multi-realization simulation models for forward prediction. This will still require reservoir engineering intervention to assure and control the quality of the output.With the advent of the e-field, an executive might be directly coupled to the same c omputer as the reservoir engineer and can view, on a screen at his desk, the corporate production forecasts and the corporate reserves being updated in real time. Oil industry (Castrol) forecasts are generated using the best-practice techniques of time-series modeling. The precise form of time-series model used varies from industry to industry, in each case being determined, as per standard practice, by the prevailing features of the industry data being examined.For example, data for some industries may be peculiarly prone to seasonality, i. e. seasonal trends. In other industries, there may be pronounced non-linearity, whereby large recessions, for example, may occur more frequently than circular booms. Approach varies from industry to industry. Common to analysis of every industry, however, is the use of sender auto regressions. Vector auto regressions allow us to forecast a variable using more than the variables own history as explanatory nurture. For example, when forecastin g oil prices, we can include information about oil consumption, supplement and capacity.When forecasting for some of our industry sub-component variables, however, using a variables own history is often the most desirable method of analysis. Such single-variable analysis is called univariate modeling. We use the most common and versatile form of univariate models the autoregressive lamentable average model (ARMA). In some cases, ARMA techniques are inappropriate because there is insufficient historic data or data quality is poor. In such cases, we use either traditional decomposition methods or smoothing methods as a basis for analysis and forecasting.It moldiness be remembered that human intervention plays a necessary and desirable part in all our industry forecasting techniques. Intimate knowledge of the data and industry ensures we spot structural breaks, anomalous data, turning points and seasonal features where a purely mechanical forecasting process would not. Inventory mea n The company recently had implemented an inventory optimization application from Tools Group, Amsterdam, called DPM (formerly, Distribution prep Model). But Tenaglia knew that technology was only part of the solution.After gaining some experience with the software to understand its capabilities, the European division of Castrol undertook the hard work of organizational change, creating a write out-chain prep department that was totally separate from execution functions. Aggregate training Methodology Castrol initiated a program to improve their Sales and Operations Planning (S&OP) processes. The team was faced with reactive supply chains caused by forecasts that were inaccurate, treacherous and incomplete. The forecast did not extend to all SKUs and calculations need intensive manual of arms work.The supply chain was still widely order-driven and structured to be reactive, quite than proactive. The demand forecast was carried out by sales and marketing, so the supply chain people reworked the forecast in order to trigger replenishments. We had a lot of uncertainty due to poor forecast practices. The inventory stead was also challenging. Most slow moving products had excess inventory. Fast moving products were often out-of-stock. Safety stocks had been set manually, based largely on personalized experience. In the calculations, there was little formal sense of supply and demand uncertainty.Safety stocks were infrequently adjusted, and when they were, it was often in reaction to a single event. For instance, an under stock situation would often trigger an increase in golosh stock levels. addition, planners were expediting to constantly to overcome the poorly derived inventory targets. This expediting was triggering production reschedules and urgent deliveries, increasing costs and amplifying supply chain noise. Weve seen dramatic increases in our advantage level with significant declines In inventory across Europe.Castrol determine the need to b uild an effective S&OP proviso process which they would implement in one country and accordingly roll out across Europe. The resulting system would coordinate ten independent systems into one global and interrelated coherent planning process, encompassing the downstream portion of Castrols supply chain, from blended oils and packaging through to the end user customer. The system would fit high process levels to customers, reduce stock-outs and cut back on manual expediting. BP Castrol quickly came to the conclusion that to accomplish the above, they needed to include nventory in their S&OP process. Improving the forecasting process was clearly required, but alone it would not achieve the high customer-service levels they wanted. A Castrol uses software that analyzes demand history across multiple dimensions so you can obtain the best possible forecasts and inventory targets for driving your supply chain. Innovative and advanced technologies enable Castrol to improve and change planning processes. Solutions span key supply chain planning areas such as Demand Planning, Demand Sensing, Promotion forecasting and Inventory Optimization.BP Castrols resulting system delivered the target service levels, reduced out of stocks, and largely eliminated the expediting. everyplace a two year period, KPIs improved dramatically. Aggregate forecast truth improved by 15% on average and channel forecast the true* improved to 90% for retail. (* % of SKUs demand deep down 20% of a 2 months aged forecast) Total network inventories were reduced by 35%, 20% in the first year after implementation and accordingly 20% again in the following year. Despite the lower inventories, service levels to customers, as defined by line fill rates, were up by 9% boilers suit.The system has become a unique company standard for excellence in forecasting, customer service level planning and inventory optimization. The system now spans 29 installations, 25 countries and has been expanded to two continents. The Payoff Reduced Inventory and Higher Service Levels The replenishment flows had to be synchronized with the demand signal through optimized inventories. They improved demand detecting by generating more robust and reliable forecasts. They implemented an improved and standardised monthly demand forecast process cycle.A single point of right was instituted. Promotion planning and monitor was also improved. They improved demand solvent by improving safety stocks using a solution provided by Tools Group. Reliable statistical modeling accurately measured demand and supply chain unpredictability. Reliable inventory modeling and mix optimization techniques accommodated this volatility and accurately set the inventory targets required to achieve a reactive inventory mix. The Payoff Reduced Inventory and Higher Service Levels BP Castrols resulting system delivered the target service levels, reduced ut of stocks, and largely eliminated the expediting. Over a two year period, KPIs improved dramatically. Aggregate forecast accuracy improved by 15% on average and channel forecast accuracy* improved to 90% for retail. (* % of SKUs demand within 20% of a 2 months aged forecast) Total network inventories were reduced by 35%, 20% in the first year after implementation and then 20% again in the following year. Despite the lower inventories, service levels to customers, as defined by line fill rates, were up by 9% boilers suit.The system has become a unique company standard for excellence in forecasting, customer service level planning and inventory optimization. The system now spans 29 installations, 25 countries and has been expanded to two continents. Pricing The rising crude prices caused severe Base-oil supply imbalances. The shortage of unexampled material also severely wedged many of the small-scale players in the Indian lubricant market. (Castrol) Further, the supply uncertainty triggered rapid Base oil price increases. This in turn caused most lubricant players, including Castrol, to take multiple price increases during the year. . Economic slowdown the global financial crisis in the minute of arc fractional of 2008 severely impacted the Indian stock market and caused the rupee to depreciate by about 20% with respect to the US sawbuck. The rupee depreciation offset benefits of softening Base-oil prices during the latter half of the year. The lower overall economic activity level and restricted availability of finance also impacted automotive sales and trucking activity in the second half of 2008. a slow-down in the construction sector earlier in the year due to the high interest rate regime was go on affected by lack of credit in the second half.This has caused an overall slackening of demand in the lubricant market, particularly in the industrial, mining, off-road and fleet-operators segment, in the last quarter of the year. The lubricant channel partners reacted to this period of uncertainty by tightening their inv entory levels, causing a one-off impact on lubricant volume in the second half of 2008. 2. harsh oil Crude prices continued to remain an important cost input element to Base-oil in addition to supply demand economics. In 2008, crude prices rapidly increase and crossed US$145 a drumfish in July.This triggered ingest increases on various crude derivatives including Base-oils across the globe. In the second half of the year the crude prices collapsed but the depreciation of the rupee against the US Dollar offset some of the increases. Refiners also carried inventory of high priced crude procured earlier and as a result, the benefits of the falling crude prices were not passed on by refiners to industrial customers in tandem with the crude prices. The following graph indicates the trend of crude prices 3. Base-Oils and AdditivesThe steep rise in crude prices severely impacted the Base-oil prices with multiple price increases charged by the Base-oil refiners. At its peak, the Base-oil price moved(p) uS$1800 per ton in the second half of the year, almost stunt woman from 2007 exit levels. The increases were regular and quick until September 2008. Supply situation had and deteriorated due to refinery closures, production issues and turnaround at domestic and international sources. due(p) to limited availability, customers were put on allocation by major refineries.Post the crude prices falling from the high of over uS$145 a barrel and the economic slowdown, the availability of Base-oils witnessed strong improvement. However, there was very little reduction in prices till the last quarter due to the depreciation of the rupee against the US Dollar and the high inventory of Base oils held by refiners in anticipation of demand. Input costs of additive manufacturers witnessed a rapid increase and with the expectation of higher demand, the pricing balance tilted in estimate of additive manufacturing companies.Additive prices witnessed an increase of circa 25% over the 2007 levels. However, Castrol has managed the volatile input prices by ensuring effective procurement and inventory prudence. Productivity of purchasing spends and working outstanding oversight has been an area of focus. Tight control of Base-oils and additives inventory has ensured higher inventory turnaround and release of cash in a timely modal value for the business. EXCECUTION Checking and Controlling of Inventory Plan The management conducts physical verification of inventory at reasonable intervals during the year. b) The procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. (c) The Company is maintaining proper records of inventory and no material discrepancies were spy on physical verification. Performance Evaluation Parameters Facilitate planning, execution, and management put forward visibility Reduced inventory and demurrage cost better pr oductivity and running(a) force Respond quickly and synchronize changes Reduced costs Improve decision making Increase customer satisfaction Build strategic relationships Improve agility, competitiveness, and business performance Information Technology In the oil and gas industry, knowing where and what product is being produced or delivered is essential to an economic and effective organization. The use of IT to offer possible remote control of equipment and facilities, performance services monitoring, and even transportation management service is important. Firms like British Petroleum have developed new systems to aid in their business operations by using these technologies.Past and present methods of communication in the oil and gas industry have included satellite communications (on a limited basis), Cellular and Specialized Mobile Radio, fiber-optics, and general offshore telephone service using piano tuner frequencies consisted of a radiotelephone based transmitt ing aerial/transmitter that would allow communications between any offshore oil platforms and land-based telephone networks. These systems required a team of employees to monitor and report to management on a continuing basis.Currently, cellular and specialized mobile radio services are in the process of providing better services to the offshore drilling platforms and are generally expected to replace the older offshore radiotelephone systems found primarily in the Gulf of Mexico region. Such systems receive use of these technologies to reduce and/or eliminate on site monitoring by a team of employees. With respect to labor costs, the organization could but substantial amounts of money because there is no need to have strength continuously on location to inspect, monitor, maintain, and/or report conditions.Wire slight data provided by implemented wireless technology would automatically produce reports on processes. Adjustments could be made at appropriate times reducing any over time payments. The benefits of IT integration to the Castrol as a whole could be substantial. Supply Chain Collaborations, Coordination, And Cooperation Supply-chain management requires an oil and gas company to integrate its decisions with those made within its chain of customers and suppliers. This process involves relationship management by the company. Both customer relations and supplier relations are key to effective coordination of supply-chains.Often, the fundamental interaction between suppliers and their customers are adversarial in nature, based on a negotiated obligation that spells out all the terms and conditions by which all parties are required to comply. Instead, a firm can create long-term strategic relationships with their suppliers. In most cases, it is a collaboration process between the oil and gas operating company and its suppliers. One of the weaknesses of a supply-chain is that each company is in all probability to act in its best interests to optimize it s profit.The goal of satisfying the net customer is easily lost and opportunities that could arise from some coordination of decisions across stages of the supply-chain could also be lost. If suppliers could be made more reliable, there would be less need for inventories of raw materials, quality inspection systems, rework, and other non-value adding activities, resulting in tend production. Coordination from the perspective of British Petroleum Company involves the following issues * ensuring supplier force n cost, timeliness and quality * setting appropriate targets for inventory, capacity, and lead time * monitoring demand and supply conditions * Communicating market and performance results to customers and suppliers. A typical challenge in the petroleum industry supply chain is the attitude and anxiety regarding collaboration and information sharing between supply chain partners. While collaboration and information sharing rep-resent a of the essence(p) factor for supply cha in efficiency. Improved supply chain efficiency in the petroleum industry, therefore, needs a new philosophy in collaboration, even if this means working with competitors.