Globalization and Implementation Plan Essay Example for Free

Globalization and Implementation Plan Essay This report will provide business and demographic information to determine a platform of business strategies and alternatives for Home Depot to re-enter or abandon the Argentinian retail market for home improvement centers. Home Depot must be very specific and strategic to try to re-enter the market due the abject failure in entering the market in 1997 and existing the market in 2001 from the lack of profits and community acceptance. Home Depot cannot afford another failure in Argentina or South America. (Home Depot. 2013). Home Depot: Home Depot is the 4th largest retailer in the US, the 5th largest retailer in the world and ultimately the worlds largest home improvement specialty retailer. In 35 years, Home Depot operates 2,257 retail stores in 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, Canada, and Mexico. The foreign locations (294) generate just 12% of Home Depots’ total revenues. They have engineered entry and expansion into foreign markets through acquisition of smaller retailers and expanded upon their success. The Home Depot, Inc. operates as a home improvement retailer. It sells building materials, home improvement products, and lawn and garden products, as well as providing installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers. It serves home owners, professional remodelers, general contractors, repairmen, small business owners, and tradesmen. From the beginning, The Home Depot has developed strategic product alliances directly with leading manufacturers delivering the most exclusive products and national brands. They also provide a combination of proprietary products like Ryobi ® tools, RIDGID ® tools, BEHR ® paint, LG ® appliances, and Toro ® lawn equipment. Home Depot has set the standard for innovative merchandise for the do-it-yourselfer and the professional contractors. In addition, they can provide exporting servicing for products worldwide. (Home Depot. 2013). Argentina: This portion of the report will review the demographics, economic markets, income levels and currency values, culture and along with the legal and political environment in Argentina and South America for Home Depot reentrance. The total population of Argentina is just over 42 million people covering 2.8 million square kilometers (km). It is the 8th largest country in the world and speaks primarily Spanish and Italian along with English, German and French. The population is primarily located among five largest cities of the country in northern 30% of the country and within 600 km of the capital Buenos Aires with 13 million citizens. It has less than 1% population growth and the average age is 30 years old with a 98% literacy rate and 16 years of formal education. Regretfully, the average unemployment rate is estimated to be 10.2 and higher for females. The income level for individuals per capita is $18,820 and ranks 73rd in the world. The labor force is comprised of 17M workers and ranks 36th in the world. The percentage of the population below the poverty line is 30%. Between the poverty line and the percentage of unemployment and contraction in the economy is does not provide a lot of discretionary money to be used for purchasing homes, maintenance, and remodeling. The culture of Argentina is based upon traditional Roman Catholic values (92% membership) centered upon family values and 100’s of years of religious beliefs, values, dependence and fostering upon local relationships. The culture is also driven by personal relationships with the expectation of working with you to find solutions to consumer needs. Many Argentinians do not like the big box impersonal retail stores that do not have the personnel to spend time creating trust and loyalty with customers. (CIA Factbook. 2013). International Considerations for Argentina and Home Depot: The economy of Argentina is the 22nd largest in the world with a growth rate of 2.6% with a GDP of $475B in 2012. It has a diversified economy due to the many natural resources available to them. Manufacturing is the largest segment of industry with 20%; agriculture with 5% and the remaining in the services and tourism sector. The currency in Argentina is based upon the peso and the current exchange rates ranges for US dollars range from 1 peso to 4.1 to 4.6 dollars. Argentina is a member of Mercosur with Brazil, Paraguay and Uruguay implementing a Common External Tariff (CET) for non-members to pay tariffs up to 35%. This was implemented to protect those economies from the dumping of cheaper foreign goods. Argentina defaulted on its debt in 2002 leading foreign investors to flee and take their investments elsewhere. Since then, Argentina nationalized the $24 billion pensions fund and limited the amounts of foreign purchases of land. Argentina has not been able to pull out if the economic slump and economic growth has completely stalled. The optimistic view point for economic growth in Argentina in 2013 will be less than 3.5% for consumer demand, industrial production and exports. This will apply additional economic pressure for homebuyers to make purchase homes and banks willing to lend. They have implemented a number of measures to keep dollars in the country restricting foreign currency exchanges and debt obligations in defending the value of the peso. These restrictions have effectively made it almost impossible to obtain US dollars for the purposes of real estate purchases. The federal tax agency’s authorization is now required before making any foreign exchange purchase. The implementation of these tight policy measures has the real estate activity in 2012 fell approximately 40%, making it one of the sectors worst performing years in the country in a decade. â€Å"The number of commercial real estate transactions in Buenos Aires fell 46% to 6,315 and residential transactions fell 15% in 2012. (Bifani. 2013) The legal system for Argentina has become very restrictive over the years to protect their business and economy from inflation and currency issues. They have the Argentina’s Customs Code (DGA), which registers all foreign importers and exporters. They apply import duties and taxes to all imports along import duties, statistical taxes, value-added taxes and excise duties. Argentina has strict regulations and fees regarding the purchasing of property by foreign interests, which limits the potential for revenues and growth. (CIA Factbook. 2013). Market Considerations for Argentina and Home Depot Is Argentina, the best possible country for Home Depot to reinvest into? Argentina ranks in the bottom 10 countries in the world for foreign businesses to do business in. Specifically for Home Depot, it takes 12 months for a construction company to obtain a construction permit, which double what it takes throughout the rest of South America. This would greatly impact Home Depot ability to build stores and expand within Argentina. The majority of businesses hours operate between 9am 7 pm and can run to 9 or 10pm for retail stores. The business hierarchy is top down with ideas and instructions come from the top. They are very respectful of business protocol and will not break those social norms or status structure. With these facts in mind, it demonstrates Argentinians require time to develop trust and familiarity, especially for foreigners. Negotiations will take a considerable amount of time and you must be willing to argue and debate to get their support and consensus. They will no t hesitate to interrupt and argue for the finer points of agreements before proceedings to the next step. (Communicaid. 2009). The following are business points regarding the desire to potentially expand into Argentina. They have a value added tax (VAT) across the economy and a wealth tax. These taxes discourage both internal and external business to invest in larger business ventures due the country’s desire to confiscate profits from business people from investing. The government has huge political swings of ideology and purpose. This creates an environment that can propagate corruption, bribery and short term political or economic decisions to encourage voting support. They are a 60% tax evasion rate, which is triple that of US citizens. For many of the key economic indicators, Argentina ranks the bottom 25% in the world for doing business, economic freedom, human rights, taxes, and corruption. The inflation rate is about 10% and outside economists are reporting about 20%. Credit cards have low credit limits restricting higher purchases and up to a 45% interest rate. This does not encourage businesses to take any risks or initiatives for business growth i.e.: construction businesses. (Chafkin, M. 2001). Overall according the financial reports, Argentina is now considered a third world country due to its difficulty with globalization and working with foreign countries. * They have established strict foreign investment guidelines prohibiting foreign ownership. * They have restricted construction companies for building and developing business areas. * They have high tax rates and low reinvestment rates back into their country. * They have problems with government corruption, bribery and ethics. Entry Modes (Globalization Implementation Plan) This portion will cover the various possibilities for establishing the Modes of Entry for Home Depot to reenter Argentina. Home Depot’s expansion in foreign markets has been less than successful such as the ones in South America, China and Southeast Asia. They have had some success in Canada and Mexico due to being substantial trading partners in the NAFTA agreement and similar ideology of home ownership and access to credit, Exporting: This mode of business entry will not effectively work for expanding and opening home improvement stores in Argentina at this time. Local competitors will prefer to source construction products from local suppliers rather than to purchase from foreign suppliers. They have implemented restrictions for international trade with tariffs and entrance barriers, which will increase the possible competitive pricing to become less attractive for Home Depot. Turn-Key Operations: This mode of entry will not be a viable alternative due to the fact that Home Depot does not provide any explicit technology over the local DIY businesses such as EASY. This mode could damage Home Depot by training and possibly improving competitor’s ability to compete with Home Depot in other markets in South America like Mexico. Licensing: This mode of entry is similar to Turn-Key due to the lack of control over the foreign business and again Home Depot cannot provide any real production improvements other than economies of scale to existing or new business. It would only provide royalty fees to Home Depot and would not warrant the business investment. Franchising: Franchising is similar to licensing. It works when companies have a strategic production process like such as mentioned in the text with Fuji-Xerox or even McDonalds. Home Depot does not provide the specialized processes or supply chain to support the development of franchising into foreign markets. Wholly Owned Subsidiary: This is the method and mode of entry Home Depot tried before and failed. At that point in time, Argentinians ability to own and purchase property was very restrictive for a majority of the population. Argentinians are not accustomed with reinvesting into their homes or dwelling. They did not have the incentives to reinvest or the desire to learn how to perform the tasks that it would take to complete a successful DIY project. Also, Home Depot is not an Argentinian or Latin American business, which creates a lack of respect and loyalty. The Easy company growth is due to Home Depot building the model and Easy taking them and restructuring them for Latin American consumers. (Hill, C. 2011). Joint Ventures: This is the only method or mode of entry that makes sense for Home Depot to pursue. In the textbook, there are examples of Tesco and Jollibee competing with bigger more entrenched businesses by using joint ventures and investments to establish a foothold. For Home Depot to renter the South American market and specifically Argentina, I believe the only choice Home Depot has is to engage in joint ventures with smaller DIY businesses in Argentina and gain some traction similar to Tesco in Europe and Asia. Also, EASY is now the big player in the market with 49 DIY stores. It is doubtful they would entertain any joint ventures without the ability to be the controlling partner or give up its majority interest. Monetary Systems: This portion will evaluate Argentina’s history of monetary policy and its effect upon the potential desire or ability for Home Depot to reopen home improvement retail stores there. Argentina history relating to financial and monetary policy has been turbulent and at a crisis stage numerous times. Argentina is working hard to revamp their economy and currency ratings. It has a GDP of $475B ranking 22nd in the world and one of the largest economies in South America. In 1998 Argentina entered a four year depression resulting from governmental tax increases, devaluing of its currency, freezing bank deposits, defaulting on foreign debt up to $93B, and finally removing the linkage between the peso and the US dollar. Some of international issues relating to Argentina’s reputation have been reducing the international trade/currency exchanges have been their protectionist’s policy and rated the worst in the world by the World Bank. They have seized control over the largest oil and airline companies in the country. They are also being censured by the IMF for dishonest reporting of national statistics specifically inflation rates. (Singer, H. 2013). Argentina has attempted practically every single monetary system known today to their economy and all have failed resulting in financial crisis over the last 35 years. The flexible exchange rate system led to a hyperinflation and the currency board has led to dramatic recessions. During the first three crises, Argentina was using a fixed exchange rate to allow government control. The first crisis was in 1975 with the collapse of that stabilization plan resulting in the devaluing of their currency by 100% and more than a dozen followed the next year. The second crisis was to the Tablita plan in 1981; the Tablita plan was to reform banking regulations and capital account restriction affecting its currency and exchange rates. It still ended with an 82% devaluation of its currency in one year. The third crisis occurred within 12 months in 1982 with Alemann Plan. This plan was designed around the banking and insurance industries connected to foreign currency exchanges. At this time, Argentina abandoned the fixed exchanges for a floating exchange system. The next strategy Argentina attempted was after the 2001 crisis and implemented a dual exchange rate system to manage and control their economy and currency values. This allows them to use both fixed and/or floating system with the ability for different fixed and floating rates during the same period of time. The fixed exchange rates are used for essential imports and exports account transactions. The floating exchange rates are used for capital account transactions determined by the market critical to providing foreign cash reserves for the country. Usually, countries implementing dual exchanges rates are using protectionist control to protect their economy and financial markets such as China. (Investopedia. 2013) Business Strategy for Home Depot to enter Argentina This portion of the report is to provide a platform of business strategies and alternatives for Home Depot to re-enter the Argentinian retail market for home improvement centers. Home Depot cannot afford another failure in Argentina or South America. From the beginning, The Home Depot develops strategic product alliances directly with industry-leading manufacturers to deliver the most exclusive products assortments to customers. Home Depots expansion strategies have been very successful throughout North America when they have used acquisition strategies. Their expansion in Argentina did not produce the same results due to the lack of a substantial home improvement company to purchase. They chose to organically grow the market in Argentina. This strategy failed due to many different situations occurring during the same time frame: political failure of the government and presidential resignations, huge drop in their GDP, default on the foreign debt, currency failure, widespread unemplo yment and public riots. It was like the perfect storm for the country and Home Depot. (Home Depot. 2013). In reviewing the many strategies that are available for Home Depot to re-enter the market in Argentina, there are many limitations based upon the history of Argentina and Home Depot. They definitely have the ability to leverage economies of scale for providing home improvement products at almost any price point that the consumers is willing to pay. These economies of scale would be too large for any competitive business to ignore. Their major competitor, Cencosud is the company they sold their four stores to in 2001. It is the largest retailer in South America with over 1,045 retail store in a variety of markets. It is a $19B company with 125,000 employees. Home Depot is a $70B corporation with 331,000 employees in about 2,294 stores. This would be an extremely difficult acquisition and inevitably against their acquisition strategy of buying smaller businesses and expanding through gradual growth. This also limits the amount of exporting potential to Argentina through Cencosud due to the lack of exporting profits. (Cencosud. 2013). Recommendations All of these factors leave The Home Depot with a limited amount of possibilities to re-enter the Argentinian market. The best possibility is to partner with Cencosud in a strategic alliance or find smaller specialized retailers that are currently competing with Cencosud in Argentina and offer them very attractive distribution, pricing and profit sharing. I would find it difficult to invest in this country’s economy due the protectionist ideology of the government. Their policies have not created real economic growth and restrict the ability for foreign companies to invest without excessive tax on profits. The current business environment, banking system and construction restrictions are not conducive for foreign involvement or investments. Home Depot has already attempted once, I believe it would take an even larger investment to overcome the negative perception in 2001. Also, they have a major competitor Sodimac in place and have had double digit growth since 2005. Their best expansion strategies for Home Depot to get back into go into Argentinian markets would be establishes strategic alliances with the smaller retailers for exportations, joint ventures directly with Fallabella and foreign direct investments to invest with either of the businesses if available depending upon the political complexity of the government. (Forbes. 2011). References: Bifani. (2013). Argentine Real Estate Activity Sharply Falls. Retrieved from http://www.homechannelnews.com/article/hd-expounds-plans-mexico-latin-america Castro, G. (2012). Chile’s new Sodimac home improvement store continues to break ground underground. Retrieved from http://blog.kimcorealty.com/2012/02/chiles-new-sodimac-home-improvement-store-continues-to-break-ground-underground/ Cencosud. (2013). Our Company. Retrieved from http://www.cencosud.com/nuestra-empresa/descripcion/?lang=en Chafkin, M., (2001). Inc. magazine. A Constant Feeling of Crisis. Retrieved from http://www.inc.com/magazine/201106/doing-business-in-argentina_pagen_5.html CIA Handbook. (2013). Argentina. Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html Communicaid. (2009). Doing Business in Argentina. Retrieved from http://www.communicaid.com/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20Argentina.pdf Easy. (2013). Easy Argentina. Retrieved from https://www.easy.com.ar/webapp/wcs/stores/servlet/es/easyar/information-pag e?identifier=mapa_locales.html Encyclopedia of Business. (2013). Joint Ventures and Strategic Alliances. Retrieved from http://www.referenceforbusiness.com/management/Int-Loc/Joint-Ventures-and-Strategic-Alliances.html#ixzz2SRvvAulT Forbes. (2011). Home Depot Remodels Its Growth Plans. Retrieved from http://www.forbes.com/2001/11/30/1130homedepot_print.html Global Property Value. (2013). Argentina. Retrieved from http://www.globalpropertyguide.com/Latin-America/argentina/Price-History Hill, Charles W. L. (2011). Global Business Today. (7th ed.). New York: The McGraw-Hill Companies, Inc.. ISBN: 978-0-07-813721-1. Home Depot. (2013).About Us. Retrieved from https://corporate.homedepot.com/OurCompany/History/Pages/default.aspx Kaminsky, G., (2009). Thirty Years of Currency Crises in Argentina. External Shocks or Domestic Fragility?. George Washington University. Retrieved from http://home.gwu.edu/~graciela/HOME-PAGE/RESEARCH-WORK/WORKING-PAPERS/argentina.pdf Isora, M., (2009). Importan ce of Strategic Alliances in Company Activity. Retrieved from http://www3.mruni.eu/~int.economics/5nr/Isoraite.pdf Sprawl Busters. (2008). Argentina. Adios, Home Depot!. Retrieved from http://www.sprawl-busters.com/search.php?readstory=821

Fate as a Pitcher, Life as a Ball :: Character Analysis, Laertes, Claudius

Many people go through their lives questioning what would have happened if some aspects had been different. What if a person’s worst enemy had been his/her best friend? Would he/she be a different person if he/she had grown up in a different town? Such questions as these can puzzle a person in reality, as well as in literature. In Shakespeare’s tragedy, Hamlet, the protagonist raises the question of fate in the second scene of the fifth act, â€Å"There’s a divinity that shapes our ends.† Through the actions of the characters, a disastrous outcome is unfolded. Claudius’s designs to kill Hamlet ultimately kill Laertes and Gertrude. Polonius finds his death by spying on Hamlet’s conversation with his mother. Finally, many of the tragic elements stem from the ghost of Hamlet’s father speaking to Hamlet about his murder. Hamlet’s quote shows that fate is a divine force at work to create an outcome. Each character’s decision m arks the curves that fate pitches into their lives. In the seventh scene of the fourth act of Hamlet, Laertes joins Claudius in order to kill Hamlet. They devise a plan to have Hamlet and Laertes participate in a fencing match, in which Laertes used a pointed blade tipped with poison. Claudius intends to infect a glass of wine with poison in the case that Laertes fails (4.7.133-162). â€Å"And for his death no wind of blame shall breathe, but even his mother shall uncharged the practice and call it and accident† (4.7.66-69). These are Claudius’ words concerning Gertrude’s knowledge of his plan. Such a phrase is foreshadowing of fate. During the match, Gertrude drinks from the poisoned cup (5.2.295-296). Laertes is also victim to fate when he and Hamlet trade swords. â€Å"Why, as a woodcock to mine own springe, Osric. I am justly killed with mine own treachery† (5.2.311-312). Neither Laertes nor Gertrude would have suffered their poisonous fate had Claudius not devised this plan to kill Hamlet. Furthermore, Claudius would not have had this plan if Polonius had never been killed. â€Å"And so have I a noble father lost† (4.7.25). The death of Polonius is the incident that prompted Laertes to visit Denmark in search of vengeance. However, the death of Polonius would not be a factor in this fate if he had not been conspiring against Hamlet. â€Å"My lord, he’s going to his mother’s closet. Behind the arras I’ll convey myself to hear the process† (3.

Change and the Management of Change Essay

Change Management Planning, Implementing, controlling, and reviewing the movement of an organization from its current state to a new one Causes of Change External Incremental (Evolutionary) †¢Occurs slowly over time (fuel-efficient cars) Dramatic (Revolutionary) †¢Can cause many problems especially if unexpected †¢Might lead to total rethink of operation of organization oBusiness Process Re-Engineering Business Process Re-EngineeringFundamentally rethinking and redesigning the processes of a business to achieve a dramatic improvement in performance Globalization-Increasing interdependence for countries’ economies through free trade and multinational company investment †¢New opportunities to sell products in other countries †¢Increased competition from products made more cheaply in other countries-often by multinationals †¢Use either pan-global marketing for localization strategies †¢Achieve and try to maintain a competitive advantage Technological Advances-Leading to new products and new processes †¢Products: new computer games, iPods and iPhones, hybrid-powered cars. †¢Processes: robots in production; computer assisted design (CAD) in design offices and computer systems for stock control. †¢Staff retraining †¢Purchase of new equipment †¢Additions to product portfolio-Other products may be dropped †¢Need for quicker product development which may require new organizational structures and teams Macro-Economic Change- Fiscal Policy, Interest Rates, Business Cycle†¢Changes in consumers’ disposable incomes-and demand patterns that result from this †¢Boom or recession conditions-need for extra capacity or rationalism †¢Need for flexible production systems (staff flexibility) to cope with demand changes †¢Explain need for extra capacity or need to rationalize †¢Deal with staff cutbacks in way that encourages staff who remain to accept change Legal Changes †¢Changes to what can be sold †¢Working hours and conditions †¢Staff training on company policy †¢Flexible working hours and practices Competitors’ Actions †¢New products †¢Lower prices †¢Higher promotional budgets†¢Encourage new ideas from staff †¢Increase efficiency by staff accepting need to change production methods †¢Ensure resources available to meet challenge Environmental Factors †¢Increase green consumerism †¢Increasing concern about industry’s contribution to climate change †¢Social and environmental audits supported by strategic changes (recycle packaging) Internal Organizational Changes †¢Delayering* †¢Matrix structure** replaces hierarchical º †¢Retraining of less senior staff to accept more responsibility †¢Job security †¢Retraining staff in teamwork and project management Relocation †¢Moving operations to another region/country †¢Redundancy schemes for workers who lose their jobs †¢Grants for those willing to move Cutting Costs To Improve Competitiveness †¢Capital-intensive rather that labour-intensive methods †¢Rationalisation of operations †¢Retraining staff to operate advanced tech. †¢Redundancy schemes for workers who lose their jobs †¢Flexible employment contracts and working practices *DelayeringRemoval of one or more of the levels of hierarchy from an organizational structure **Matrix StructureAn organizational structure that creates project teams that cut across traditional functional departments  ° Level of Hierarchy A stage of the organisational structure at  which the personnel on it have equal status and authority Factors Causing Resistance to Change †¢Fear of Unknown (Uncertainty) †¢Fear of Failure (Skills/Abilities beyond worker’s capabilities) †¢Losing Something of Value (Income, Status, Job Security) †¢False Beliefs (Some convince themselves current system will work to avoid risks) †¢Lack of Trust (Past experiences between workers and managers) †¢Inertia (Might have to work harder) Strategies to Reduce Impact of/Resistance to Change Change Management Force-Field AnalysisAn analytical process used to map the opposing forces within an environment (such as a business) where change is taking place 1.Outline proposal for change 2.List forces for and against change 3.Assign estimated score for each force †¢Weighs importance of forces †¢Helps identify who is most likely impacted by change †¢How to strengthen forces supporting decision and reduce forces against it †¢Can implement leadership style that reduces opposition and resistance to change Project ChampionA person assigned to support and drive a project forward. Their role is to explain the benefits of change and assist and support the team putting change into practice Project GroupsCreated by an organisation to address a problem that requires input from different specialists Promote Change 1.Establish a sense of urgency. 2.Create an effective project team to lead the change. 3.Develop a vision and a strategy for change. 4.Communicate this change vision. 5.Empower people to take action. 6.Generate short-term gains from change that benefit as many people as possible. 7.Consolidate these gains and produce even more change. 8.Build change into the culture of the organisation so that it becomes a natural process.

California Drought in 2014 Essay

Water is a life resource for everyone. A situation between a drought and our resources being in danger with shortages of water in the region, is something that should not be trifled with. The state of California plunged into its third year of being affected by a record breaking drought. (Global Risk Insight) The Sacramento region was in desperate need of water this winter, with the high record of 52 winter days without rain (Sacramento Bee: Weather Report). Generally, the average time for rainfall encloses the time from late November to Mid April; and the months of the most rainfall occurs December through February.(Department of Water Resources) As parts of the country get drier, the amount of water availability will most likely decrease. The drought of 2014 is being noted as the most dangerous and driest drought California has ever seen. To understand what a drought is, there are different terms and systems of droughts that differentiate among one another. A drought is periods of unusually dry weather that persists long enough to cause environmental or economic problems. Droughts that are lingering for countless years does indeed do a negatively great climatic difference in the environment and do many environmental and social damages: water shortages, agricultural problems, health issues and much more (livescience). There is a total of four categories of droughts: meteorological, hydrological, agricultural, and socioeconomic. The first three are known to measure drought as a physical phenomenon, the last deals with drought in terms of supply and demand (Types of Drought). During the occurrences of a drought, the major factors are having the greatest impacts: Economic, Environmental, and Social. The United States has suffered droughts in the past but as mentioned before, 2014 is noted as being the worst of all. California is similar to an arid state with a Mediterranean climate, those who have lived in California has certainly lived through a drought in their lifetime. Since the 1900’s there have been extended droughts at least once a decade, last one ending in 2009 (CBS Sacramento: Drought Way of Life). Between 1980 and until now, 16 drought events have cost a combined $210 billion in the U.S., and thousands have died due to the droughts effects.(LiveScience). Research shows that the  2014 drought epidemic has nearly 91 percent of the state undergoing â€Å"Severe to exceptional drought. More than seventeen communities scattered across the state are expected to run out of water by mid-May†. Scientists are now seeing that this drought has the most record breaking dryness than the previous drought that had happened in 1850. (Global Risk Insights) A notable dry period of dry conditions was experienced most in the 1920’s and well into the 1930’s. Three twentieth century droughts were of particular importance from a water supply standpoint – the droughts of 1928 – 35, 1976 – 77, and 1987 – 91. The year of 1928 – 35 was considered as the dustbowl drought as it established hydrologic criteria widely used in designing storage capacity and yield of large Northern California reservoirs.The drought of 1977 served as a wakeup call for water agencies that were unprepared for major cutbacks in their supplies. The 1987 – 92 drought was noted as its six-year duration. Adopting of measures such as a 14 month ban on all lawn watering, the city installed a temporary emergency desalination plant and an emergency pipeline. (Department of Water Resources) Not only is everyone in California suffering through the consequences of the drought, our commercial agricultural system is also being affected. Lack of water calls for desperate measures: with not enough water to maintain our growing plants with sufficient nutrients, it delays the growth rate of the vegetation, and that inconvenience will cause a food supply shortage. In addition to that, economic supply and demand will be uneven in the marketing procedure, which will have the effect of high prices in produce in marketing. Food availability, affordability and quality drive food security problems in the world are all being affected right now as the drought continues on. (Global Risk Insights) Hunger and famine are a great issue at hand, our agriculture system is what keeping us healthy and placing foods in our grocery stores. Little water will not support food crops towards the livestock nor will they have enough grass or grains to be feed upon. When droughts are at their peak of their dryness, it destroys food sources, and those who suffers are us. We go  hungry and if hunger lasts for a long period of time, famine is surely to come to be the new epidemic. Lack of clean and dependable water resources can lead to public health problems. As noted before, significant drought events have occurred and can have different affects in different areas. (CDC) The use of water for any health care resource is vital and it has to be within everyones reach in order to have a healthy lifestyle. Saving water is indeed important, but that should not eliminate the water being used to wash ones hands to reduce germs from the hands. (LiveScience) Although we are in a drought, that should not limit the continuous use of hand washing. Droughts creates lack of clean water resource for drinking, public sanitation and personal hygiene, which unfortunately can lean to multiple wide ranges of life-threatening diseases. In addition, health concerns can have everyone suffering, lack of water can lead to dehydration and the human body can function certain amount of days without water. Farmers in the agricultural system work at their hardest to have food growing for our personal hunger needs. In the season of a drought, farmers are worried about their crops and paying out of their pocked to keep their crops alive and doing any means necessary to keep their crops. Farmers run a chance that they will loose all of their financial benefactors if a drought destroys their crops. Having water to nurture their crops is another fact; spending more money to have specialized irrigation or wells drilled up for the farmers to have a continuation of water. Lack of water for the surrounding environment is not the only factor of danger that endangers the surrounding area; Lack of moisture and precipitation from the drought conditions can produce out-of-control wildfires with hazardous conditions in forests and across range lands. The negative result of this environmental danger results in injuries/death, extensive damage. Many unfortunate consequences can arise from this negative factor. Not only does the environment suffer from this inconvenience, workers in the wood or timber industries are also being affected. Climate change with the danger of the drought is not a good combination together; water reservoirs, lakes and dams are shrinking rapidly. Water quality can be in danger. Shrinking amounts can cause dangerous contaminants such as heavy metal, industrial chemicals, pesticides, and sediments. An example of a shrinking dam: Folsom Lake. Folsom Lake normally holds just under 1 million acre feet of water. However during this drought it is only 33 percent of average. The lake’s extremely low levels have become one of the droughts most iconic images. Other reservoirs across the state were hitting record lows across the state, alarming water agencies to do necessary water cutbacks. (CBS Sacramento: Hard to Recover) The same factors as the commercial agricultural farmers hold the same fate as the businessmen in the aquatic industry. Those who work in the boating or fishing industry may not have the luck to sell their goods due to the lakes or other water resources drying up or reaching abnormal water levels. Hydroelectric power energy companies rely their energy functioning on running water, and this would be expensive for both the company and the customers as they would be needed to pay extra. Workers working on ships or sail boats may find difficulty navigating their way through streams, river, and canals due to low water levels. This would be considered as a expensive business transportation for receiving or sending goods and materials. During a drought, officials may issue a water restriction measure;Governor Jerry Brown, has requested the Sacramento City Council and all Californians to approve a 20 percent reduction in water use for everyone in the city. This is a mandatory rationing so that homes, businesses and farms will not run dry over the sumer (SF gate). Depending where everyone lives, water restriction measure procedures can vary on odd or even days of the week, at night, or on weekends. The restriction may vary from hours, days or in some cases prohibit use of water. No matter the case, it is important to check with your local water utility for more information. (How to Survive a Drought.) The future still holds many questions and discovery in the long run for the environment and towards everyone. The population is increasing everyday, and  in arid, and wet regions the demand of water supplies are still the same. Not only is the expansion of the population is causing a bit of worrisome troubles about the future use of water, but the idea of global warming.(LiveScience) With increasing levels of global warming, who knows how the environment will deal with more strong droughts. The least thing everyone can do is be prepared for dry seasons with little rainfall, and dangerous environmental consequences. However, the good new is everyone can help save water, we all have the ability to make a difference in the environment. There are multiple ways to save water and take consideration to the environment, and it all starts with how we make a change to our lifestyle. The major places to observe water waste would be in the kitchen, bathroom, how we do laundry, and activities that are done outside. The average gallons wasted during showers and brushing our teeth with running water is as least 2.5 gallons per minute. Washing a full load of clothes in the washing machine is 15-50 gallons per load, depending what kind of appliances one owns. The leaking problems under the sink, faucets, toilet, and bathtub can actually waste more water than anything else; the average gallon waste is at least 30 gallons per day in leaks. When working outside, its is important to reserve water as much as one can. As the average water waste when one is working outside is at least 20 gallons. By replacing energy and water efficient appliances. (City of Sacramento: We Are in A Drought) The drought of this country and the regions that are suffering with it, has no good cause for everyone and the environment. The ongoing California drought provides a unsavory view of future water shortages and its impact on agricultural production and food safety. Preventing a drought is something that everyone in the world cannot avoid, if it is going to strike then it’s going to strike, there is no stopping it, unless if rainfall comes. However, what we can prevent is our precious water going to waste by making water efficient choices that will conserve water.

Egyptians essays

Egyptians essays Ancient Egyptians entire way of life was centered on death. They planned their whole lives for life after death, which they believed to be eternity. The Egyptians believed that when you died, your soul would leave your body and go on a journey. The ancient Egyptians strong beliefs in life after death can be seen in the many works of art that have been found. First, it is important to know that the Egyptians used a canon of proportion in which men and women would always be drawn. They believed that by showing the profile of the face, with the eye shown in front along with the shoulders and upper torso, and with the lower torso shown from the side along with legs and the feet, that this was the best view to capture the most characteristic and essential aspects of the subject matter. Much of the art that has been found from this time has come from tombs and graves. It was not really used for decoration as it was used to show the living world for the dead. The afterlife was viewed as being a continuation of the good life now; therefore you have to plan to take everything with you. In one of the tomb paintings, found in the tomb of Neb-amon, you can see Ned-amon as a great hunter with all of these birds and different animals and fish around him. In the painting are also his girlfriend and a servant. The Egyptians would paint in their tombs what they want to do in their afterlife and who they want to be with them. This is also the reason they would have so many other things like food and jewels, etc. in their tombs with them. They would have everything that they needed to continue life, and this would vary with your social status. Perhaps the greatest pieces of art from this time are the pyramids and the tombs of the pharaohs. The pyramids were built to assure the rulers comfort in the afterlife and their tombs were prepared as a home for eternity. The chambers would have the most cherished possessions suc...

Introduction to Purchasing-Power Parity

Introduction to Purchasing-Power Parity The idea that identical items in different countries should have the same real prices is very intuitively appealing- after all, it stands to reason that a consumer should be able to sell an item in one country, exchange the money received for the item for currency of a different country, and then buy the same item back in the other country (and not have any money left over), if for no other reason than this scenario simply puts the consumer back exactly where she started. This concept, known as purchasing-power parity (and sometimes referred to as PPP), is simply the theory that the amount of purchasing power that a consumer has doesnt depend on what currency she is making purchases with. Purchasing-power parity doesnt mean that nominal exchange rates are equal to 1, or even that nominal exchange rates are constant. A quick look at an online finance site shows, for example, that a US dollar can buy about 80 Japanese yen (at the time of writing), and this can vary pretty widely over time. Instead, the theory of purchasing-power parity implies that there is an interaction between nominal prices and nominal exchange rates so that, for example, items in the US that sell for one dollar would sell for 80 yen in Japan today, and this ratio would change in tandem with the nominal exchange rate. In other words, purchasing-power parity states that the real exchange rate is always equal to 1, i.e. that one item purchased domestically can be exchanged for one foreign item. Despite its intuitive appeal, purchasing-power parity doesnt generally hold in practice. This is because purchasing-power parity relies on the presence of arbitrage opportunities- opportunities to risklessly and costlessly buy items at a low price in one place and sell them at a higher price in another- to bring prices together in different countries. (Prices would converge because the buying activity would push prices in one country up and the selling activity would push prices in the other country down.) In reality, there are various transaction costs and barriers to trade that limit the ability to make prices converge via market forces. For example, its unclear how one would exploit arbitrage opportunities for services across different geographies, since its often difficult, if not impossible, to transport services costlessly from one place to another. Nevertheless, purchasing-power parity is an important concept to consider as a baseline theoretical scenario, and, even though purchasing-power parity might not hold perfectly in practice, the intuition behind it does, in fact, place practical limits on how much real prices can diverge across countries. (If you are interested in reading more, see here for another discussion on purchasing-power parity.)

Economic Experiences Essay Example | Topics and Well Written Essays - 2500 words

Economic Experiences - Essay Example The US has had its moments of ups and downs in its economic experiences. Asia, Africa, and Latin America have had their seasons too. Some economic experiences that happened in some of the Asian countries in the 90's are being repeated in the US and Africa. In the same Vein, some popular and unpopular American economic viewpoints are also replicated in other countries worldwide (Columbus & Wusu, 2006). For beginners, the United States economy is the most important national economy in the whole world today. By the end of 2007, its gross domestic product (GDP) was approximated to be over $13.8 trillion. The European settlements in the 17th and 18th centuries form the basis of the United States economy. America had many colonies which evolved from insignificant majestic economies to a miniature, autonomous farming economy. In 1776, these colonies became what is today known as the United States of America (The U.S. Economy, 2007). From its inception, the United States developed into a gigantic, amalgamated, and industrialized nation which today comprises over a quarter of the total global economy. The huge growth has been necessitated by among other factors, endowment of enormous natural resources including coal, oil, and timber, possession of huge area of highly prolific farming lands, a large united market, a good entrepreneurial spirit, and a obligation of devoting in human and material capital (The U.S. Economy, 2007). The United States economy has its own advantages and limitations when compared to other economic experiences witnessed around the world, especially in Asia, Africa, and Latin America. Following the great depression of the 1930's, the economy experienced hard-hitting recessions. Periods of high unemployment and slow economic growth rate were recorded in United States economy (Lee, 2002). When government officials realized the dangers posed by the recession, they responded by reducing taxes to enable consumers to spend more. The government also facilitated a swift growth in the money supply thus encouraging more spending. This offered a remedy to the woes facing the economy at that time. The economy continued to grow steadily until 1970's, when inflation fears were acknowledged mainly due to the economic anguishes brought about by major price increases and the Vietnam conflict. Instead of fighting recession that was threatening to destroy the gains made on the economy, government officials made efforts to control inflation by opposing tax cuts, curtailing growth in the money supply, and limiting spending (The U.S. Economy, 2007). Fiscal policy was widely used by the government to control and stabilize the economy in much of the 1960's. Government officials, including the president and members of the United States Congress manipulated state revenues to influence the economy. High unemployment, huge state deficits, and acute inflation levels witnessed during this period weakened the public's confidence in fiscal policy as a mechanism for controlling the