Winning Marketing campaign for ZARA Jacket Essay

Winning Marketing campaign for ZARA Jacket - Essay Example During the initial phase of pre-launch, ZARA will try to generate curiosity among the target market so that they are looking forward to get involved in activities arrange by the brand. In order to inform the customers about the latest offering, advertisements will be placed in leading magazines and Television channels. Moreover, E-marketing will be done so that the online customer base can be provided with the appealing offerings. Finally, the concert will be arranged after a month of the launch so that all other brands of Inditex are promoted simultaneously. Also, customer’s feedback will be sought to be assured that the unique product meets their expectations effectively. The concept of ZARA belongs to ‘Inditex’ Group, established by the company in year 1975 by Ortega Gaona in A Caruna, Spain. The group is recognised globally for offering eight store formats for the shoppers i.e. ZARA, Pull & Bear, Stradivarius, ZARA Home, Uterque, Massimo Dutti, Oysho and Bershka (Inditex, 2013a). The competitive edge of the group lies in its differentiated business model which has two cornerstones i.e. flexibility and innovation (Inditex, 2013b). The success of the marketing campaign is highly dependent on tools utilised by well-known experts for conveying the right message (Keller, 2012) and persuading them to trying out the new offering instantly (Kotler & Keller, 2012). Although ZARA has been able to attract a large number of customers through prevailing marketing tactic but it is considering other options as well. As the fashion industry is getting competitive due to increasing number of companies and cost effective opportunities for apparel production (Pani & Sharma, 2012), it has become imperative for the companies to employ the best measures for strengthening their stakes (Hemphill & Suk, 2009). Considering the global fashion industry, it is observed that the leading brands are making effective use of four marketing practises i.e. Television

Ecological Ethics, Anissa Essay Example | Topics and Well Written Essays - 250 words

Ecological Ethics, Anissa - Essay Example The essay points out that Taylor would have said species and matter are vital due to the fact that we need to have respect for nature. I also agree with the idea that man is part of nature and ethics as extending to the whole biotic community. This is regarded as the only view that actually incorporates the biotic community and the land and atmosphere are indispensable to the continuation processes of natural selection and evolution. It has been found that a collective approach intuitively unveils the underworking conditions and webs that actually keep us interdependent and connected. Besides it is very beneficial to be able to economically quantify the values of environmental surrounding. However, the opinion provided by Meadows is a little bit redundant. He claims that in the anthropocentric value system, humans are the fundamental focus of value. On the other hand, Russow brings back the discussion of one individual versus whole. Russow’s standpoint is that we value and protect animals just because of their aesthetic value. I also agree with the author that species matter more than just for the aesthetic value of their individual members. I may add that aesthetics is regarded as a philosophical category, and therefore, every human being across the globe has his own opinion what to consider as aesthetic. Besides, every culture has different perceptions on aesthetic values. What Western civilization regards as beautiful African or Asian cultures would consider as ugly (Carter, 2010). In my opinion, the intrinsic values of species are actually dependent on biodiversity. There are numerous reasons that justify the existence of species. For instance, reductions in biodiversity result to the ecosystem functioning negatively. We should not treat animals differently just because they are not humans. This is because the fact that whether to consider a being a member or not of a species is not morally right. This

Political development Essay Example for Free

Political development Essay There are many more important factors to human activity than leadership. Effective leadership helps our nation through times of danger and risky situations. In today’s competitive world, leadership skills are crucial for both personal and professional development. Leadership is an important function of management which helps an individual or a business to maximize efficiency and to achieve goals. It makes a business and/or nonprofit organization successful. Leadership is a very important trait of management which helps an individual or a corporate business to maximize efficiency and achieve their goals. Leadership has different meanings to various people. Most commonly, leadership is also defines as influence, that is the art influencing others so that will strive willingly towards reaching goals. Political leadership is a more complex process by which the persons in power influence their followers, society, and the public to accomplish their set goals for the community. Political leaders are necessary for continuing and starting the process of change and development in any society. It can be social or economic change and constitutional or political change. These leaders carry out the process of change by applying their skills and attributes like politically relevant beliefs, socially adored values, and approved character. Political development is an interactive, public-decision-making and learning process that alters the achievable set of options open to solving political problems within and between government and civil society, based on power creation and dispersion. This process leads to increasing individual and group autonomy from below from above. The study of Political Development can also be understood as the structures of the state in correspondence with the changes occurring in the economy and social dimensions of group life. The concept of political development should be based on an open acknowledgement of the value of institutional autonomy and its relationship to democratic values. Without any leadership and developing of societies, groups of human beings quickly turn into arguments and conflict, because we see things in different ways and lean towards different solutions.

Culture and the Turkish economy

Culture and the Turkish economy Introduction Peculiarities of running business and transnational communications are directly related to the culture of the country. Globalization of the economy has undoubtedly become a commonly accepted phenomenon. Even small and medium businesses, wanting or not, face problems of international business relationships: be it the purchase of equipment, materials or other trade and procurement activities, search for partners or investors, not to mention the direct competition with multinational companies in their own domestic market. Larger players of market, in connection with its inevitable saturation, are forced to think about entering the international arena. All these factors make the study of culture of business relationships and international communication increasingly relevant for managers. Awareness about the peculiarities of a particular culture, the ability to consider and use these peculiarities in practice help some companies quickly and at less cost to establish relations with partners, and others to deal more effectively with rivals. The knowledge of the features of international communication is also useful for managers working in foreign companies, since they help to better adapt to a foreign environment, understand the requirements of top-management, permissible frames of conduct and, accordingly, to move faster through the ranks. Major dimensions of culture in Turkey  and their influence on Turkish economy and business practices When building business relationships, finding partners for business, developing private business in the territory of another country, it is always necessary to take into account the totality of the rules of business etiquette and specificities of traditions of each cultural environment. Turkey has long been a secular state with European style of doing business, but it should be remembered that the influence of Islam, though not pronounced in recent times is reflected in some aspects of the Turkish business etiquette and bears a deep cultural meaning. Turkey combines European and Middle East traditions in the business culture, therefore common business etiquette here has some nuances which are useful to know for building successful and lasting business relationships. Lets consider these nuances. First, Turkey has a sufficiently well developed family-owned business with a clear hierarchy. Family traditions in Turkey are very important, both in life and in business (Burnaz, 2009). Second, different spheres of life in Turkey are influenced by religion. If the partners are religious people, one should keep in mind that Friday is a holy day for Muslims when they visit temple to pray, so no important business meetings and negotiations should be appointed on this day. Ramazan is a month-long sacred abstinence of all Muslims, during which one cannot eat, drink, smoke cigarettes from sunrise to sunset. This should be kept this in mind when planning a business lunch or dinner in a restaurant. During Ramazan it is better to appoint business meetings with Turkish Muslims after sunset, however, if it is possible to avoid them, it is better to postpone all negotiations until after Ramazan. Many Turkey residents leave on vacation in July or August, so the middle of summer is not the best time for negotiations and business meetings, while from October to May is the most active and fruitful period for Turkish business culture (Burnaz, 2009; OECD Economic Surveys: Turkey, 201 0). It should be remembered that as in any other country, courtesy and respect for etiquette in business in Turkey is especially important. Good personal relationships based on trust and mutual respect play a significant role in building business relationships with Turkish partners, therefore, before proceeding to business negotiations, it is necessary to show them openness and readiness for friendship and to emphasize the mutuality of benefits (Burnaz, 2009; Ararat, 2008, Gupta, 2009). Motivation in negotiating with the Turks should be clear and precise. It is very important in the process of business negotiations to clearly outline the advantages and profitability of a proposal for the Turkish side, although it is not the only thing a benefit may be expressed in for Turkish partners. Instead of profits it is recommended to focus often on such points of the transaction as increased authority and power. Respect, recognition and other intangible benefits may also have a positive impact on the outcome of business negotiations in Turkey (Gupta, 2009). Thus, understanding that Turkish culture is very different from European or American business culture is a big step in doing business in Turkey and with the Turks. It takes patience and time to learn all the ins and outs, but the Turks also show patience towards foreigners and willing to make allowances for any mistake or error in etiquette made by a foreigner. In general, Turkey is an attractive country to do business with the positive dynamics in the economy. Turkey managed to avoid large losses that might have occurred as a result of the global economic crisis of 2008-2009 (Turkey passes the crisis test, 2009). Having analyzed the economic development of Turkey for the period from 2002 to the present day, it can be argued that the state of the economy has become particularly favorable, due to the below factors (OECD Economic Surveys: Turkey, 2010; Turkey passes the crisis test, 2009; Turkey: Business environment at a glance, 2011; Aydin, 2006): The currency reform in Turkey, 2002; reforms in social security and health care; tax reform beneficial for entrepreneurs; TOKÄ ° Innovations (Housing Administration Projects) gave impetus to the development of national construction companies; State support for small and medium-sized enterprises, which constitute 97% of the Turkish economy; Increased economic growth in Turkey, which is largely due to the automobile industry, real estate and textile industry; Successful investments in tourism; Active development of the logistics sector in Europe; New international communications and new markets: the most promising emerging markets for Turkey are China, South Korea, India, BRIIC group, as well as markets of Pakistan and Bangladesh; Regional and social development: 40% of the EU budget is allocated to regional development and social infrastructure; Funding at the expense of TOBB (the Union of Chambers and Commodity Exchange of Turkey); Development of higher education: there are already 95 public and 45 private universities in Turkey. Apart from that, the Government of the Republic of Turkey considers foreign direct investment as the driving force of economic development and prosperity of the country. Turkey has one of the most liberal legal regimes for FDI among the member countries of the Organization for Economic Cooperation and Development (OECD). Except for some sectors, businesses that are open to the private sector in Turkey are mostly open to foreign partners and investors (OECD Economic Surveys: Turkey, 2010). Nevertheless, all investors, regardless of nationality, face a number of specific obstacles characteristic of developing Eastern countries: excessive bureaucracy, slow acting justice system, high taxes, corporate governance weaknesses, sometimes unpredictability of the decisions taken at local government level, as well as frequent changes in legislation and regulatory framework (Gupta, 2009). However, foreign investment regulation, for the most part, is transparent. Turkey supports national regime, including the purchase of real estate by foreign capital companies registered in accordance with Turkish law, and in most sectors no investment audit is provided (only notification is required). The Turkish Government supports the principle of transparency with the associated nation as a precondition for the acquisition of real estate by foreigners, and imposes a limit of 2.5 hectare of property acquired by foreign individuals. Individuals cannot own more than 10% of the land in any of the areas of industrial development (Kalafatoglu, 2010; Keyman, 2005;). The maximum share of foreign equity participation is limited to 25% in broadcasting and 49% in aviation and maritime transport. Establishment of companies offering financial services including banking and insurance, as well as oil-related companies, requires special permission from the Government of Turkey for both domestic and foreign investors. In practice, regulators do not restrict foreign ownership in the financial sector: in 2005 and 2006 a series of acquisitions by foreign persons were approved, and several foreign financial companies has been operating in Turkey for a long time (Ulusoy, 2009). The privatization process in Turkey is currently going on. The Government of the Republic of Turkey privatizes the state economic enterprises through selling lots of securities, public offerings, or a combination of both. The total amount of transactions in the Turkish privatization program amounted to 8.1 billion dollars in 2006, 4.3 billion dollars in 2007, and 6.3 billion dollars in 2008. The state continues privatization process, despite the fact that the reduction of global financial flows, which began in 2008, may entail certain obstacles (Ulusoy, 2009; OECD Economic Surveys: Turkey, 2010). Bureaucratic delays used to be significant obstacles to both national and foreign companies. However, recent reforms have simplified the process of establishment of companies, reduced the requirements to obtain permits, set a single form of registration of companies and enabled individuals to register their businesses in the Union of Chambers and Commodities Exchange of Turkey. Cross-cultural analysis: business cultures of USA and Turkey Generally, two polar opposite styles of management are distinguished, and consequently, business relation cultures: American or Western and Oriental styles. They are fundamentally different in structure of collection and exchange of information, separation and segregation of duties, degree of standardization, coordination and subordination. The American system is characterized by management based on science, individualism and personal responsibility, a clear division of labor, specialization, planning based on the analysis of large amounts of quantitative information. Oriental management system is based on collective responsibility, rotation system, long-term career planning, equation of employees to the company and its customs (Burnaz, 2009; Gupta, 2009). At the same time, in line with the Western style, there has recently distinguished a pan-European, also partly inherent to Turkey as an EU member, with a simultaneous focus on economic and social indicators, such as a guaranteed opportunity for staff development, involvement of employees in decision-making process, the emphasis on favorable climate in the company (Burnaz, 2009; Gupta, 2009). However, despite the tendency to unify business methods and communication standards, we believe that the explicit differences in business culture will remain in the future. Despite the huge variety of business cultures, there are methods to predict certain aspects of behavior of representative of a certain culture. Ones of the most applicable methods are the classification of countries according to G. Hofstedes four variative characteristics reflecting basic differences of cultural values, and contextual ranking of cultures, proposed by E. Hall (Cateora, 2000). According to these theories, the USA is a notable example of a country with a high index of individualism (IDV=91), when a separate individual poorly integrates itself into the group, and strong individualistic mentality is observed with a focus on the importance of personal life and initiative. The Turkish society is rather a society where the mentality of community relations dominates, so it is based on morality, sense of duty, predominance of the interests of the collective over the individual ones, and loyalty (IDV=37) (Table 1). Another important cultural dimension is the parameter of power (hierarchical) distance. Power distance index measures the tolerance of the society towards social inequality, i.e., unequal distribution of power between superior and subordinate members of the social system. The degree of distancing shows the relation of employees to the power of managers. Turkey has a culture with a high index of power distance (PDI=66), and power in Turkey may even be inherited. Here there is a significant difference between the members of the society who are at different social levels and difference in the privileges, which are perceived by the members of the society for granted. In countries with a low power distance index, like USA (PDI=40), the reverse pattern is observed (Table 1). The next quality largely determined by culture is the control of the level of uncertainty, which shows the extent to which members of a cultural community are programmed to freedom of action in unstructured non-standard situations. In this aspect, the USA and Turkey also hold totally different positions. As a country with high uncertainty avoidance index, Turkey (UAI=85) is less resistant to stress, more concerned with security issues and following the rules, which leads to poor perception of change and slow adaptation to new ideas. USA is characterized by culture with low UAI (UAI=46) associated with greater mobility, willingness to take risks, innovation, tendency to rely on knowledge, rather than absolute knowledge (Table 1). Moreover, the USA is rather a country described by Hofstede as the country with masculinity behavior (MAS=62), i.e. dominance, encouragement to competition, high demands, desire for career achievements and entrepreneurship, greed and passion for capital accumulation, lack of caring about others. In contrast, though attached now to the European community, Turkey still belongs to femininity pattern (MAS=45) and the prevailing values are humility and altruism, gender equality, emphasis on serving people, mutual aid (Table 1). Table 1. Indexing USA and Turkey depending on cultural values by Hofstede. Country IDV Ranking by IDV* PDI Ranking by PDI UAI Ranking by UAI MAS Ranking by MAS USA 91 1 40 38 46 43 62 15 Turkey 37 28 66 18/19 85 16/17 45 32/33 * Classification among 53 countries of the world, by 2000. (Cateora, 2000) In addition to the parameters identified by Hofstede, the predominant and characteristic of the culture type of communication is of great importance in the typology of business cultures. On this parameter, all nations can be ranked by the degree of cultural contextuality. Recent studies have revealed a high correlation between high/low-contextuality and the Hofstedes indices of individualism/collectivism, and hierarchical level of distancing (Cateora, 2000). Thus, low-context American culture shares relatively low hierarchical differences and high level of individualism. On the contrary, high-context Muslim culture is typically characterized by a significant difference between the hierarchical levels and low levels of individualism. Therefore, the majority of modern managers, employees of international companies, are more effective in countries with the low-context language, since they are relying on the reports, contracts and other acts documented in writing. But even in low-context cultures, communication is largely dependent on cultural differences (Cateora, 2000; Gupta, 2009). High-context cultures require a considerable period of time before starting the business part of the relationship, because future partners must get to know each other for joint business. For example, if one cannot find time and desire to drink coffee and talk about abstract topics, one cannot advance to the business part of the conversation (Cateora, 2000; Gupta, 2009). Another indicator is the source of power and level of authority, which is a direct consequence of the level of the hierarchical distance, as it combines the effect of the power structure in business with the status and position of manager in the community, depending on the size of the company, publicity, type of property, and cultural values. In Turkey, the decisions are mainly made exclusively by the head of the company, who prefers to deal only with senior executives of other companies. Business here is not between companies or divisions, but between individuals. The latter also means that in case of leadership changes from one side or another, the achieved agreements may lose their power, if trust relationships arent re-established between new top executives of companies. Besides, the decentralized system, common for the U.S., enables managers at various levels to make decisions relevant to their functions, which is not common for Turkey (Ararat, 2008; Gupta, 2009). Thus, the obvious conclusion is that it is necessary for the authoritarian cultures as well as companies with a decentralized power structure to correctly determine the decision-makers, while working with companies in which decisions are taken by consensus, it is important to convince each member of the committee or group. Peculiarities of conducting business in Turkey Business in Turkey is quite difficult to arrange. But the results of registration of the business in Turkey and certain investments can be easily recouped. Peculiarities of doing business in Turkey determine such things as sale and purchase, opening bank accounts, tax system, offshore, ready business, small business and profitability of big business. In general, 2011 will be very important for Turkey. In June, the general election will be held. The current government has been successful in many areas of the economy; although some serious problems still remain. Therefore, opposition political parties should form new political-economic strategies with respect to the above areas. Turkey has to achieve significant economic growth, reduce unemployment, ensure social justice, and resolve tax issues. If it is done succeeds, it will be able to join the BRIIC (Kalafatoglu, 2010; OECD Economic Surveys: Turkey, 2010). The Government of Turkey since 2001 has been implementing a comprehensive program designed to accelerate all the procedures related to investments and attract more direct foreign capital into the country. The national body, the Coordinating Council for the Improvement of the Investment Environment (YOIKK) provides methodological support in this issue. In addition, in 2004 the Investment Advisory Council for Turkey (IAC) was established, whose recommendations serve as a guide for YOIKK, and activities undertaken within the Councils recommendations are published in annual reports of the Treasury of Turkey on the activities of IAC (Keyman, 2005). The government continues to implement legislative reforms, some of which are aimed at attracting foreign investment to Turkey. The draft of National Legislative Network, a project of automation and integration completed the process of developing the technical infrastructure in 2008, designed to accelerate the execution of business cases by facilitating the transfer of documents and transcripts of court proceedings and give the opportunity to file an application online. In addition, the government simplified the access of foreign investors to justice, including legal advice and Alternative Dispute Resolution, supported by the U.S., EU and World Bank (Turkey: Business environment at a glance, 2011; Kalafatoglu, 2010). Turkey made the tax system more convenient for investors as well. In 2006 the basic rate of income tax was reduced from 30 to 20%. The government also cancelled the income tax for foreign investors who own bonds, notes and shares, preserving it for bank deposits and repurchase transactions. In 2007 tax administration established a division designed to manage taxes collection from large corporations (Keyman, 2005). However, the Government of Turkey has not yet managed to implement further tax reforms, including reducing the tax on wages, which is one of the highest among OECD members. The Turkish Government also increased the VAT on leasing transactions from 1 to 18% in 2007. Special consumption tax on alcoholic beverages in 2008 reached 275.6% with the minimum requirements for special tax based on market prices of products (Ulusoy, 2008). Turkish laws affecting the investment climate continues to develop. It guarantees freedom of transfer of profits, fees and royalties and repatriation of capital. This guarantee is reflected in the bilateral investment treaties between Turkey and the United States in 1986, and in some similar agreements, which regulate the unlimited and proper handling of all funds related to investment in a freely convertible currency in the self-regulating market (Treaties and Agreements, Turkey-United States, 1986). Turkey is a member of the International Centre for Settlement of Investment Disputes (ICSID). Turkey also ratified the Convention Establishing the Multilateral Investment Guarantee Agency (MIGA) in 1987. Turkish law provides the confirmation of international arbitration execution of investment disputes between foreign investors and the state. Turkeys is also a member of the WTO Agreement on Trade Related Investment Measures (TRIMS) (Keyman, 2005; Ulusoy, 2008). Turkey investment stimuli system was significantly improved in 2006 to support manufacturing industry, energy sector, and export. General regime of investment incentives suggests tax benefits and, in some cases, the possibility of lending. Turkish Treasury also regulates some issues regarding interest rates on investment loans for small and medium enterprises, RD projects, environmental protection, as well as projects in 50 provinces, where the annual income per capita is below 1500 U.S. dollars. For such provinces, the law provides income tax incentives, social insurance benefits, free land and reduced electricity cost up to 20-50% (Ulusoy, 2009; OECD Economic Surveys: Turkey, 2010). In RD sphere, Scientific and Technological Research Council of Turkey (TUBITAK) and Technology Development Foundation of Turkey (TTGV) deal with reimbursements for RD and capital borrowing. Projects that get such benefits include development concepts, technology research, technical feasibility evaluation, concept-to-design laboratory researches, samples study, test products production, experimental facilities construction, product testing, patent research and design problems solutions. In addition to these incentives, the Government of Turkey provides support for technological development zones, which involves the creation of infrastructure and production facilities, exemption from taxes, VAT, income taxes and revenues, and from customs duties for special IT-sector. Moreover, export stimulating program is focused on RD, market research, and participation in international exhibitions and fairs. In Turkey, no technical requirements for the beginning, implementation and expansion of investment projects are provided. There are also no restrictions to the acquisition by investors of goods from national sources and exporting specific percentage of products. Investors access to foreign currency does not affect exports. There are also no restrictions for domestic companies to own shares of foreign investors for the fact that the proportion of foreign shares will be gradually reduced or investor will transfer its technology on certain terms. There are also no conditions established by the state in terms of the permission to invest, including the location in specialized geographic areas, specific percentage of national resources for the production of goods and services, national shares packages, import substitution, export requirements, employment of the population the investor technically located in, technology transfer and financing from national sources (Ulusoy, 2008; Ulusoy, 200 9; OECD Economic Surveys: Turkey, 2010). The Government of the Republic of Turkey does not force investors to disclose proprietary information or any other kind of information different from the publicly available one during the process of obtaining permission from the supervisory authority. Companies with foreign capital are to send a report on their activities, submitted to the General Assembly of shareholders, the auditors report, and balance sheet in the Foreign Investment Department of the Treasury annually in May. Except for issues relating to openness to foreign investment and transparency of the system of regulation, Turkey provides all the rights, benefits, deductions and privileges available to national capital and companies, as well as foreign capital and companies on the basis of most favored nation regime (for selected countries). For example, American and other foreign firms can participate in publicly funded programs and programs of subsidizing research and development on the basis of national treatment. The Government of the Republic of Turkey has adopted policies and laws that, for the most part, should promote free competition and transparency in business. However, foreign companies in some sectors complain that the regulations are not transparent and understandable from time to time. One should keep in mind that Turkey is an observer, but not a member of World Trade Organisations Commission on Government Procurement. However, Turkey is an actively developing country, which tries to keep pace on all the contemporary European and American innovations. One of the most perspective areas in Turkey is internet and mobile commerce. For instance, recent researches show that mobile marketing has acquired great popularity with the development of technology SMS since 2000 in Europe and different parts of Asia. Over the past few years SMS-messages have become a major advertising channel in Turkey, and many experts even tend to view Turkey as an innovator in mobile marketing (Demirbag, 2008). The vivid example of this success is the experience of the Turkish branch of Pepsi, which in the last 3 years has been one of the most active players using mobile marketing tools. To date, according to the data of Pepsi Turkey, the level of participation in promotional campaigns conducted by the department is the highest in the category. The company uses mobile technologies, because it considers them more effective than TV tool to provide an opportunity for interactive communication with Turkish consumers. One of the campaigns introduced by Pepsi offered consumers wallpapers and ringtones, including the famous song Da Da Da. Over the course of a promotional campaign, users downloaded more than 200,000 ringtones (Tsalikis, 2009). Turkish companies (like Finansbank, BP, FritoLay) proved that simplicity and possibility of immediate gratification are of great importance for the Turkish consumer, and the mobile channel can provide this effect (Demirbag, 2008). In general, the trust of Turkish consumers continues to rise since February 2010, reaching 85.8. This is the highest level over the past 14 months (OECD Economic Surveys: Turkey, 2010). According to the report published by the Institute of Statistics of Turkey in 2010 jointly with the Central Bank of Turkey, the index of consumer confidence amounting to 85.8 points is the highest mark since February of 2009 when it amounted to 87.60% (Tsalikis, 2009). The index started to rise since November 2009, after reaching a record low value of 78.38 points. If the index exceeds 100, it means that consumers are optimistic, and if it equals to 100, it means that consumers are neither optimistic, nor pessimistic, but if the index is below 100, it indicates pessimistic consumers (Aydin, 2006). The report determines the growth of the index of consumer confidence through the increase of the purchasing power of consumers in the current and future period, the general state of the economy and employme nt opportunities in the coming quarter. Conclusion The research has shown that Turkey is characterized by the specific business culture, experiencing the influence of European Union, USA, and its Asian partners. Belonging rather to eastern patterns of business culture, Turkey differs much form the United States in the major cultural indicators, such as indices of power distance, individualism, uncertainty avoidance, and type of business behavior (masculinity vs. femininity). However, in recent years, Turkey demonstrates high indicators of economy growth, openness to reforms, laws adjustments and democratic investment policy, which makes Turkey a favorable business partner. In addition, Turkish policy and legislation on labor, health and safety do not impede investment, although legal restrictions on firing workers may create obstacles to labor-intensive activities in the formal economy. The specific tax policy sometimes hinders investment decisions, e.g. high taxation of beverages, similar to Coca-Cola, hinders investment in the sector. However, serious tax incentives for free trade zones provide incentives to invest in these zones. Similarly, incentives for investment in certain low-income provinces are designed to increase investments in these areas. Nowadays, international credit rating agencies insist that the investment level of the Turkish economy is still not high, but markets do not express much concern. Credit default swaps insuring Turkish securities against default for 5 years, are estimated at 1.84%. And while the Eurozone is struggling with budget deficits, Turkey states huge budget surplus due to the growth of tax revenues. Turkey is considered to be a country of investment grade in the market of credit default swaps after its dollar-denominated bonds started to exceed the bonds of developing countries in Europe largely due to accelerated economic growth. According to preliminary estimates of the Government, the economy of Turkey grew in first quarter by 12%, which allowed the Prime Minister of Turkey to claim that Turkeys credit rating wont be reduced in the coming 6-10 months. Generally, the country retains the trend towards improvement of economic performance, development and innovation, which opens new perspectives for foreign investment, collaboration and partnership.

Victor Vasarely :: essays research papers

Victor Vasarely (1906-1997) Internationally recognized as one of the most important artists of the 20th century. He is the acknowledged leader of the Op Art movement, and his innovations in color and optical illusion have had a strong influence on many modern artists. In 1947, Vasarely discovered his place in abstract art. Influenced by his experiences at Breton Beach of Belle Isle, he concluded that "internal geometry" could be seen below the surface of the entire world. He conceived that form and color are inseparable. "Every form is a base for color, every color is the attribute of a form." Forms from nature were thus transposed into purely abstract elements in his paintings. Recognizing the inner geometry of nature, Vasarely wrote, "the ellipsoid form...will slowly, but tenaciously, take hold of the surface, and become its raison d'etre. Henceforth, this ovoid form will signify in all my works of this period, the 'oceanic feeling'...I can no longer admit an inner world and another, an outer world, apart. The within and the without communicate by osmosis, or, one might rather say: the spatial-material universe, energetic-living, feeling-thinking, form a whole, indivisible...The languages of the spirit are but the supervibrations of the great ph ysical nature." Vasarely was born in Pecs, Hungary in 1906. After receiving his baccalaureate degree in 1925, he began studying art at the Podolini-Volkmann Academy in Budapest. In 1928, he transferred to the Muhely Academy, also known as the Budapest Bauhaus, where he studied with Alexander Bortnijik. At the Academy, he became familiar with the contemporary research in color and optics by Jaohannes Itten, Josef Albers, and the Constructivists Malevich and Kandinsky. After his first one-man show in 1930, at the Kovacs Akos Gallery in Budapest, Vasarely moved to Paris. For the next thirteen years, he devoted himself to graphic studies. His lifelong fascination with linear patterning led him to draw figurative and abstract patterned subjects, such as his series of harlequins, checkers, tigers, and zebras. During this period, Vasarely also created multi-dimensional works of art by super-imposing patterned layers of cellophane on one another to attain the illusion of depth. In 1943, Vasarely began to work extensively in oils, creating both abstract and figurative canvases. His first Parisian exhibition was the following year at the Galerie Denise Rene which he helped found. Vasarely became the recognized leader of the avant-garde group of artists affiliated with the gallery. In 1955, Galerie Denise Rene hosted a major group exhibition in connection with Vasarely's painting experiments with movement.

Analysis of the Paul Cronan Case Essay -- Legal Analysis Discriminatio

Analysis of the Paul Cronan Case I. Legal Analysis, Issue 1 Issue: Does party bringing suit (Plaintiff – Paul Cronan) qualify under the ADA for disability? Rule: In Review of ADA and the principles set forth at that time, there are several relevancies to consider here. A disability is described as follows: â€Å"For purposes of nondiscrimination laws (e.g. the Americans with Disabilities Act, Section 503 of the Rehabilitation Act of 1973 and Section 188 of the Workforce Investment Act), a person with a disability is generally defined as someone who (1) has a physical or mental impairment that substantially limits one or more "major life activities," (2) has a record of such an impairment, or (3) is regarded as having such an impairment. Have a severe disability (or combination of disabilities) that has lasted, or is expected to last, at least 12 months or result in death, and which prevents working at a "substantial gainful activity" level. State vocational rehabilitation (VR) offices will find a person with a disability to be eligible for VR services if he or she has a physical or mental impairment that constitutes or results in a "substantial impediment" to employment for the applicant. Some of these definitions include words or phrases that have been the subject of lawsuits, as individuals, agencies, and courts try to clarify the terms used in some of these definitions of disability. If you want to find out if a particular disability or condition gives you certain rights, contact the federal or state agency To be found disabled for purposes of Social Security disability benefits, individuals must that enforces the law in question. If you want to find out if you qualify for a particular program or service, contact the federal or state agency that administers the program to find out the specifics of the disability definition they use.† This information is readily available on the World Wide Web at the following l ink: http://www.dol.gov/odep/faqs/federal.htm Analysis: Does the disease of AIDS/ARC/HIV qualify as a disabling condition under the ADA requirements? Is this disease and the effects it has on capacity for life activities a disability? Yes, now, since 1998, when the U.S. Supreme Court decided the case of Bragdon v. Abbott, the disease of HIV/AIDS does indeed qualify as a disability. However, this is legislation to late for Paul Cr... ...he hostile environment that was occurring was in direct relation to the violated privacy of Mr. Cronan. NET internal management it is believed could see for itself the exact nature of the harassment and fear problem. NET failed to recognize or react to either situation. It is imperative to understand that NET was liable for its employees but the employees, as individuals were also liable for their actions. NET lacked the system controls necessary to keep the company liability to a minimum on this issue. Usually with failures such as these, the system internal controls are this company is lacking the most. Ethical behavior among management is key to ethical behavior among employees. Overall Conclusions: After review of the legal and ethical implications associated with the Paul Cronan Case, we need to understand that the laws in place today to protect someone in Mr. Cronan’s situation were not in place at the time of incident. AIDS/HIV were not considered a disability until many years after this occurred. The Company NET did indeed violate the employee’s rights. NET compromised Mr. Cronan, both ethically and legally. Mr. Cronan was within his rights to file suit against NET.

Economic Contribution of Migrant Workers in Bangladesh

Introduction Bangladesh is located in South Asia. It is the seventh most populous country in the world and is mostly densely inhabited. The poverty level, however, has fallen by more than 20%, helped by its prominent agricultural sector. The Bangladeshi economy is helped by its big garment sector, which contributes more than two-thirds of the country’s trade. The major challenge to prosperous growth is the vulnerability of the land to cyclones and floods. However, even with such challenges, Bangladesh has experienced a growth rate of 5% since 1990.This growth has been helped by remittances from expatriates as well. Since 1975, there has been a two-fold increase in the per-capita GDP. During the 2008 global economic recession, Bangladesh managed to stay flexible. According to the Bangladesh Bureau of Statistics (BBS), there was an increment of $62 in the per capita GDP in FY2009 from US$559 at the end of FY2008. Fiscal 2009 registered per capita income of US$621. About 25% of t he country’s GDP in 2009 came from remittances of expatriates, totaling $9. billion and garment exports worth $12. 3 billion. The increasing foreign direct investment highlights the growth rate of the Bangladesh economy and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP. Scenario of migrant workers in Bangladesh is given below throw a chart. [pic] Economic Contribution of Migrant workers in Bangladesh Remittance is the life line of Bangladesh economy. Some 4. 5m nonresident Bangladeshis are working abroad, and sending home hard earned foreign currencies.It is believed that the actual number of Bangladeshi migrants, both legal and illegal, would be close to 7. 5 million. In the first 10 months of FY 2006-07, number of manpower export stood at 0. 42m, showing 83. 14% rise, compared to 0. 25m in FY2004-05. In FY2005-06, the number stood at 0. 29m, current year to year growth is around 16%. In addition to achieving higher exp ort earnings, the country witnessed a 44 percent growth in remittance earnings during the first quarter of 2008-09 fiscal year compared to the same period of the previous fiscal year.The other records of remittance earnings in a single month are $820. 71 million in July and $808. 72 million in March of year 2008. A total of 9,81,102 Bangladeshi people went abroad in 2007-08 fiscal year which is about 74 percent above the previous fiscal year figure. According to the statistics, on monthly average basis more than 81,000 Bangladeshis went abroad in 2007-08 fiscal year. The figure was 46,000 in the previous fiscal year. Non-resident Bangladeshis (NRBs) sent $2. 45 billion to Bangladesh between July and September of 2008, according to the Bangladesh Bank statistics. Meanwhile, private bank officials said the global economic slowdown, mainly in the US and European countries, is yet to impact the remittance inflow. They, however, apprehend that if the crisis continues it may have a negati ve impact on the inflow. The remittance market of Bangladesh has been showing a steady growth in terms of incoming remittance volume.Considering the current macro-economic indicators, it seems that this growth run will continue in the coming years. Central Bank predicts that our annual incoming foreign remittance will touch $10 billion in the next 3 years. The reasons for such robust growth can be summarized as: †¢ Stable macro-economic indicators including GDP growth, †¢ Steady growth in manpower export specially in the middle east †¢ Substantial devaluation of the local currency †¢ Rapid urbanization Development of new remittance corridors in Australia and part of Europe and Africa †¢ Increased focus of Central Bank and the Government to channel funds through formal channels †¢ Increased competition among financial institution to grab market share †¢ Aggressive marketing policy adopted by Banks to increase their share of wallet †¢ Expansion of branch network of various commercial banks †¢ MFIs involvement in channeling remittance funds in remote areas †¢ Participation in the UN peace keeping missions Anti-Money Laundering rules and regulations came in force However, the market is still far from perfection in terms of service quality, cost structure, and transaction risk aspects. Among all, the biggest impediment is the speed of transactions and cost of transaction. In cases, it takes more than a week to send a foreign remittance to beneficiary. Average cost is 20 SAR for a remittance from Saudi Arabia to Bangladesh. Banks drives the legal channel for remittance mobilization.Top 3 remittance receiver banks in market are given in Table 1. 1. Table 1. 1 Monthly Inward Remittances | |Sl. |BANK |August, 2008   (in USD Million) | | | |1 |Sonali Bank |104. 700 | | | |2 |Agrani Bank |66. 091 | | | |3 |Janata Bank |64. 50 | | Whilst data on Non Resident Bangladesh (NRB) remittances coming into Bangladesh are readi ly available, projections for local remittances are difficult to determine. The figures in USD given in the Table 1. 2 are approximate. Table 1. 2: Local and Foreign Remittance Comparison in USD | |07-08 (No. ) in USD |2008-9 (No. ) in USD |2009-10 (No. ) in USD | |NRB Remittances |7 million |8. million |10 million | |Local Remittances |14 million |17 million |20 million | Most of the remittances sent to our country are for various livelihood purposes, such as disbursement of Small loans, living expenses, business start up costs, medical treatment and funds for asset purchases. This highlights the importance of fast disbursement of money that e-Remittance System promises to deliver. The system will help attract new un-banked customers who have previously depended upon informal channels.At present, only a fraction of remitters send their money through banking channels. The e-Remittance system will also provide the right platform for handling the substantial market for within country remittances. Source Countries of Remittance From Saudi Arabia, over a million workers sent $1,312 million during July-March period of 2007. In the same period The United Kingdom came out as the second biggest source of remittance with Bangladeshi Diaspora sending home $657 million to their relatives at home, closely followed by $656 million from the United States of America.Non-resident Bangladeshis remitted $559 million from the United Arab Emirates and $494 million from Kuwait in July-March period of 2007. Economic Benefits Remittance has economic benefit both at macro and micro level. In 2004, the formal remittances contributed 6% of GDP. If informal channels were included this contribution reaches 9-10% of GDP. In 2004-2005 fiscal year remittance was 44. 47% of export receipt. The proportion of foreign aid was only 38. 74% of remittances in 2004-2005 fiscal year and foreign direct investment was only 13. 58% of remittances in 2003-2004.The remittance has significant macroeconomi c impact at household level. The majority of Bangladeshi migrants abroad is unskilled, and originates from rural areas and poor community. The poorer the household, the more impact or benefits remittance income can have alleviating poverty. Remittances allow the poor people to increase expenditures on both durables and non-durable products, and provide them with protection against negative income shocks. Statistics between growth of migrant workers and growth of remittances are mention bellow. [pic] Migrant workers drive economyBangladesh's economic development largely depends on remittance sent by migrant workers, which is one of the sources of earning foreign currencies. A third of the 18 lakh people who enter the job market a year go abroad for work, adding that remittance inflow will increase significantly if the figure can be increased to 10 lakh in five years. We hope the remittance inflow would cross $14 billion mark this year. The incumbent government sent about 2 million Ba ngladeshis from January 2009 to October 2012 and the country received around $44. 22 billion in remittances during the period.Expatriates' contribution to the national GDP (gross domestic product) is 11 percent. Over 30,000 female workers go abroad a year to work, and the government has been working to transform them into skilled hands to create more jobs. The government has also taken some steps, including rehabilitations of the returned migrant workers and scholarships for their children, to ensure better facilities for the expatriates and their families. Around 25 percent of the total employment comes from overseas employment, which should be increased to 50 percent in five years. Conclusion According to the World Bank, Bangladesh has achieved a growth rate of 5. % in FY2009. The country has registered significant expansion in its middle class. The consumer industry has grown considerably. The increasing foreign direct investment highlights the growth rate of the Bangladesh econo my. At present situation when political imbalance of our country, violation of law in every sector, corruption, price hiking, lack of electricity, gas etc creates thousands of problem in economy of Bangladesh, and in this situation contribution of migrant workers strengthen the growth rate of Bangladesh economy. That’s why Bangladesh's economic development largely depends on remittance sent by migrant workers.