Asian Crisis Essays - Stock Market Crashes, , Term Papers

Asian Crisis A large economic downturn in East Asia threatens to end its nearly 30 year run of high growth rates. It is hard to understand what these declines will actualy do to the world market. The crisis has caused Asian currencies to fall 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devaluations, bad banking practices, high foreign debt, loose government regulation, and corruption. Due to East Asia's large impact on the world economy, the panic in Thailand, Indonesia, Korea, and other Asian countries has prompted other countries to worry about the affect on their own economies and offer aid to the financially troubled nations. The countries that are included in the East Asian crisis, known as "Tiger" economies, are Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand. For these countries to participate effectively in the exchange of goods, services, and assets, an international monetary system is needed to facilitate economic transactions. To be effective in facilitating movement in goods, services, and assets, a monetary system most importantly requires an efficient balance of payments adjustment mechanism so that deficits and surpluses are not prolonged but are eliminated with relative ease in a reasonably short time period. The Asian crisis of recent falls into this category of inefficient balance of payments facilitated by depreciation of its currency. By competitively depreciating its currencies, Asia is exporting its deflation, its overcapacity and its lack of growth to the West, particularly to the US. No other group of countries in the world has produced more rapid economic growth and dramatic reduction in poverty than East Asia. Korea, Malaysia, and Thailand have virtually eliminated absolute poverty, and Indonesia is within reach of that goal. Nevertheless, this financial crisis has exposed weaknesses in Asian economies that must be addressed if the region is to return to its high growth of recent years. Despite the great cries of anguish we hear from bankers and corporations, the real victims of the collapse of "globalisation" in Asia, are the same people who were the victims of the "miracle". Their low wages, or incomes from farming, are now devalued by 25% - 55%. Millions of casual construction workers are idle across the region. And now hundreds of thousands of public sector employees and finance sector workers are being sacked as the IMF enforces government budget cuts, bank and finance company closures. The East Asian crisis has affected almost all of the Asian nations, but the three hardest hit countries are Thailand, Indonesia, and South Korea. The panic began in Thailand in May of 1997 when speculators, worried about Thailand's slowing economy, excessive debt, and political instability devalued the baht as they fled for market-driven currencies like the American dollar. Indonesia's economy soon fell soon after when the rupiah hit a record low against the U.S. dollar. Indonesia is plagued by more than $70 billion worth of bad debts and a corrupt and inefficient government. Thailand and Indonesia also suffer from being overbuilt during real estate booms that were the result of huge influxes of cash by optimistic foreign investors. South Korea faltered under the weight of its huge foreign debt, decreasing exports, and weakening currency. World Bank support for East Asian governments focuses on carrying out three principal objectives: 1.to build the foundation for restoring growth and raising incomes by adopting wide-ranging reforms in the financial sector, in corporate governance and competition, and in managing external debt. This builds on the IMF-led rescue efforts in the region; 2.to strengthen social protection for the poor and other vulnerable groups to help cushion the impact of the crisis; and 3.to improve the quality and transparency of key government institutions, including helping governments address problems of corruption and accountability. The World Bank believes these objectives are inseparable and essential components of winning and holding public support for difficult reforms. There must be visible help with the social costs of reform, particularly protection for the unemployed; the financial and corporate sectors must be better regulated, more transparent, and adequately capitalized to regain the confidence of investors, both foreign and domestic. Once confidence is restored, economic growth can resume, raising incomes for the poor in the process. The World Bank's Involvement to Date Since July 1997, the Bank has pledged some $16 billion to the region, almost the equivalent of an entire year's regular lending, and already disbursed more than $3.5 billion in loans. In Thailand, the Bank pledged $1.5 billion in support of the $17.2 billion international effort initiated in Tokyo in

Jackson 5 essays

Jackson 5 essays The Jackson 5: The First Family in Music No one was to touch the guitar while he was out, so Jackie and Jermaine were to make sure Mama was busy in the kitchen while they practiced. Singing brightened up daily chores while dancing to any beat kept the boys off the streets and closely united. It wasnt until Tito snapped the E string on the guitar that Mr. Jackson discovered his boys had too much talent to remain in the small, steel-mining town, Gary, Indiana. Through hard work, severe discipline and a few sacrifices, this typical family turned into an array of stars. Once Joe Jackson realized his sons could make it to the top, he sacrificed their childhoods for strict rehearsals and stunning performances at all the local talent shows. Cherubic star, Michael Jackson, 6 years old at the time, led the band while his four handsome brothers, Jackie, Jermaine, Tito (on guitar), and Marlon, accompanied him with their own original and harmonic sounds. On August 13, 1967, the Jackson Five made history by winning the amateur-night competition at Harlems famous Apollo Theater. In the summer of 1968, Bobby Taylor, a performer and producer, stumbled across the amazing singers during one of their gigs at Chicagos Regal Nightclub and sent them straight to Detroit, the heart of Motown. Berry Gordy, founder of Motown records signed for the J5 sound and soon the excited band of brothers became a cluster of stars. The family had made it to Hollywood, California. The boys youth presented freshness and optimism for the late 60s and early 70s music fans. In 1970, I Want You Back, ABC, The Love You Save and Ill be There became four consecutive #1 hits in a nine month period. The Jackson 5 became the only group in history whose first four records made it to Number One. Once again, in 1934, Dancing Machine one of the groups last big ...

REFLECTION PAPER #2 IRONY Essay Example | Topics and Well Written Essays - 500 words

REFLECTION PAPER #2 IRONY - Essay Example Abraham and his wife, Sarah, struggled to have a child for so long, and finally, God gives them Isaac. After some time, God tells Abraham to sacrifice Isaac: â€Å"Take now your son†¦whom you love†¦and offer him there as a burnt offering† (New King James Version, Genesis 22.2). This would be representative of irony in that Abraham has to kill the son he had wanted so badly. In my own life, although not nearly as dramatic as the Abraham example, I have experienced a similar sort of irony when my nephew died only a few hours after being born. My sister ended up getting pregnant as a teenager, and at first, she wanted to have an abortion, but eventually, she came to love the baby and wanted to give it up for adoption. The fact that he was born with such enormous health issues that ended up killing him, is somewhat ironic in this particular scenario. This ironic event shaped my own life, even though I was just 9 years old, in that I was able to personally see just how fragile life can be, and that it is important to value our lives while we have them. Because of that, I have always tried to live my life to the fullest and not waste a single moment. Within the latter half of Genesis, another example of irony occurs in the story of Joseph. As a boy, Joseph is sold into slavery by his brothers because they were jealous of him and the connection between him and their father. Ultimately, after many years of suffering, Joseph ends up as a relatively powerful person in Egypt, and his brothers come to him begging for food as a famine has taken over the land. Joseph now has the power to take revenge, but instead he forgives: â€Å"I am Joseph your brother, whom you sold into Egypt. But now, do not therefore be grieved or angry with yourselves because you sold me here†¦Ã¢â‚¬ (New King James Version, Genesis 45.4-5). Just as in the story of Joseph, I am able to identify a similar irony in my

Nigerian Agip Oil Company Dissertation Example | Topics and Well Written Essays - 9250 words

Nigerian Agip Oil Company - Dissertation Example From this study it is clear that the oil and gas industry is one of the most important sectors of the Nigerian economy. Thus there is a considerable amount of literature providing information on this specific industry. These have also offered an insight into the operations of the major oil producing companies present in Nigeria. Some of the literary works have also enumerated the success of these international companies and have tried to determine the reasons behind their high performance.This study declares that  similar to Mariby’s report, author Frynas has examined the conflict between the foreign oil companies and local village communities in Nigeria. The book begins by tracing the origins and evolution of Nigeria’s oil industry. He has provided an account of the overall consequences of the operations of the oil companies on the population residing in the villages. The book has specifically concentrated on the social and environmental effects of the firms’ activities on the native inhabitants of the country. This has always served as a complicated subject of research and also given rise to several viewpoints on the issue. The author has further considered the historical aspect of the issue and describes the past incidents of clashes between the two parties. He also enumerates the Nigerian government’s laws in this context and tries to analyze the social, economic and legislative hindrances which the oil companies were likely to encounter.

Reflecting Essay Example | Topics and Well Written Essays - 500 words - 3

Reflecting - Essay Example However, I attained this skill through developing a plan of study time and adequate rest breaks that allowed me to concentrate during my work and avoid any distractions (Forsyth 39). In this case, I will capable of utilizing the library for my study since it offered me ambient environment that is free from noise distractions. A core aspect in managing my time is prioritization of tasks depending on their urgency and importance and I was capable of understanding that important tasks must be granted first priority and most of the time must be devoted towards handling the important tasks that bring the highest benefits to the company (Forsyth 56). In addition, the learning guided me in breaking down tasks so as to accomplish each activity in a progressive manager. This aspect will be useful in my future career since the human resources management functions such as interviewing, recruitment and training are sequential and must be accomplished in a certain progressive pattern that will enable the company to have talented employees (Forsyth 45). Furthermore, I learnt that procrastination hinders time management due to fear of handling the challenging tasks thus leading to time wastage. I believe I will be capable of control distractions such as politics, informal chats and discussions and engage in more challenging work of managing the human resources (Forsyth 67). I have acquired knowledge of how to schedule tasks, set deadlines, avoid stress and persevere by having a positive attitude in my work. In this case, I can schedule the tasks, set challenging and attainable goals, and remain committed to meeting the set deadlines without encountering work-related stress in my career (Forsyth 82). I believe success in my future career will require me to remain assertive and stress-free in handling human resources issues. Composition-1 has taught me the importance of starting early

Tesco Plc

Tesco Plc Strategic analysis: a case study of Tesco Plc with reference to Chinese market  · Introduction: This assignment is relating to strategic analysis of Tesco Plc. Main focus is given on global expansion of Tesco in Europe, Asia and U.S. it is difficult to sum up all strategies that has been adopted by Tesco PLC in different parts of the world therefore to be more effective emphasis will be given on strategic analysis of Tesco in China. Furthermore this assignment is focused on the reasons why Tesco has opted to go international. I will analyse certain aspects such as location advantage, to analyse that what was the reason that Tesco has chosen Asian market for it business operation and will include pull factors such as cheap labour, low production cost and increased population, ownership advantage i.e. Toscos reputation, name recognition and goodwill etc and Internalization that how Tesco handles it markets secrets (not to be copied by its competitors) by securing ownership control, as in Chinese market Tesco successfully entered with 51%-49% joint venture with a local company but to secure absolute ownership Tesco increased its shares to 91%. The assignment will also concentrate upon push factors that what were the reason in the UK market that compelled or instigated Tesco to expand its operation to overseas markets. These reasons include UK market saturation, overseas market size, increased economic growth in the home market that enables the company to invest in foreign market and less opportunities of financial growth in the local market because of high competition, exploiting resources etc I will also link different theories with Tesco global strategy i.e. (1) Strategic international expansion (2) Porters five forces (3) Porter diamond model (will be exhibited in appendix) (4) Swot analysis (will be exhibited in appendix) (5) Dunnings electric theory etc It will also analyse the role of Tesco club card loyalty scheme in gathering information from its customers in order to know customers behaviour and need. Furthermore the study also concentrates upon Toscos strategic initiatives i.e. customers focus, act local, maintain focus, use multi formats, developing capacity and build brand etc which is used by the company in its domestic market and overseas. The assignment also contains a COMPARISON OF Tesco with its market rivals i.e. Wal-Mart and Carrefour and their strategic approaches in overseas markets. Similarly the study will also look at Tescos strategy of sourcing to low cost producers and Tescos own brand i.e. Tescos value products etc.  · Company background: Tesco was founded by Jack Cohen in 1919. Since its inception the company has gone through different development stages and Tesco is now one of the UKs largest retailers and is one of the top three retailers in the world. Tesco is operating business activities in three main regions in the world i.e. Europe ( Republic of Ireland, Hungary, Czech Republic, Slovakia, Turkey and Poland) Asia ( China, Japan, Malaysia, South Korea, Thailand and India) and U.S . The company has 3,799 stores located in Europe, Asia and U.S and has employed over 440,000 people around the world.[1] Tesco has adopted different strategies for gaining entry into foreign markets i.e. Acquisition of The Three Guys chain in Ireland in 1979, Acquisition of Catteau in France in 1992, Acquisition of 51 per cent of Global in Hungary in 1994, Acquisition of K-Mart business in Czech Republic/Slovakia in 1994, acquisition of Savia in Poland in 1995, acquisition of ABFs Irish food retailing business in 1997 Acquisition of 75 per cent share of Lotus in Thailand in 1998, Partnership with Samsung (81 per cent) and the acquisition of Homeplus in South Korea in 1999, Acquisition of one Makro store in Taiwan in 2000, Joint venture with Sime Darby Bhd (Tesco share 70 per cent) in Malaysia in 2001, Acquisition of HIT hypermarket from Dohle Gruppe in Poland in 2002, Acquisition of the C Two (C2) in Japan in 2003,[2] Joint Venture in China and wholly owned subsidiary in India. Strategic analysis of Tesco: The main driver of Tescos successful business is because of overseas expansion, moving to higher margin non-food merchandise and maintaining a strong UK core business. Its UK success has been built on low prices, cultivating customer loyalty, offering a range of different store concepts and expanding into retailing services, such as banking and insurance. Tescos focus on non-food items has led some to wonder whether it is fair to compare Tesco with the other grocery retailers at all as it seems to have become a consumer goods company.[3]  · Tesco long-term strategy: Tesco is growing with enormous speed. The company is following its long-term strategy based on five main initiatives, i.e. core UK business, international growth, Non-food, retailing services and community plan are the main objectives of achieving its long term success. Tesco has adopted an effective and constant growth strategy which has enabled the company to strengthen its core UK business and expand into new developed and developing markets around the world. The rationale for the strategy is to develop the scope of the business to enable the company to deliver strong, sustainable long-term growth and competitiveness by following the customer into large expanding markets at home and overseas by serving their needs through selling a wide range of products and services such as food products, financial services, non-food products and telecoms etc.[4] The strategy of diversification and global expansion of Tescos business operation was laid down in 1997 and has been the foundation of Tescos success in recent years. The new businesses which have been established and developed over the last decade are competitive and profitable and have enabled the company to lead largest market outside the UK.  § Core UK business: UK is the biggest market for Tesco and the company aims to provide all its customers with excellent value and choice. The company has developed a range of formats such as Tesco Express convenience stores, Tesco Metro stores, Tesco Super stores and Tesco Extra Hypermarkets.[5] The UK grocery retail market remains the largest source of revenue for Tesco, representing some 50% of last years (2008)  £59.4 billion of sales.[6]  § International growth: Tesco is expanding its presence across the world with main focus on customers need. For the purpose of better understanding of local customers and providing excellent services Tesco employees local staff which helped the company to achieve market leading position in Asia and across Europe. The company is giving more emphasis upon developing a range of local formats i.e. Express stores and Value stores in order to serve the needs of smaller communities. The companys overall performance of overseas businesses was very strong in 2009, particularly against the background of increasingly challenging trading conditions in international markets as the effects of the economic downturn on consumers have grown and spread around the world. [7]  § Non-food: In the beginning Tesco was popular as a food retailer but with the passage of time non-food remains an important part of Tescos strategy and the company continue to grow both sales and market share. Tesco has adopted the policy of differentiation and has now extended its policy to selling non-food items such as clothing, electrical goods, books etc.[8] Similarly Tescos online non-food business, Tesco Direct, continues to grow rapidly, increasing sales by more than 50% in 2009. The company is also planning to introduce an online clothing offer making fashionable, affordable clothes easier to buy for many more customers.[9]  § Retailing Services: Developing Retailing Services has been part of Tescos strategy for over a decade with the aim of bringing value and simplicity to customers through services such as telecoms and financial products. After ten years of success, we have given it a renewed focus and in July we announced that Andrew Higginson would relinquish his role as Group Finance Director to take on the role of Chief Executive of Retailing Services. He has assembled an experienced team to really drive forward this part of the strategy, which we believe has the potential to deliver  £1 billion of annual profit in the next few years.[10] With the rapid changing life style for satisfying customers needs Tesco provides new products and services like online shopping, personal finance and telecoms etc.  § Community plan: Tesco is also playing an active role to be a good neighbour in the communities where the company operates its business activities. We understand the importance of behaving responsibly in all our operations. Over the past year, we have worked even harder to be a good neighbour and have strengthened our contribution to the wider communities we serve.[11] All communities have their own individual concerns and priorities and so each of our countries has its own Community Plan. Whilst the goals and targets are tailored specifically to each country, each plan is underpinned by five core promises: actively supporting local communities; buying and selling our products responsibly; caring for the environment; giving customers healthy choices; and creating good jobs and careers.[12] Tesco believes that its success depends on listening to the customers, and responding to their feedback by giving them what they want. Often the most significant contributions the company can make to communities are at the truly local level and so over the past year the company have appointed over 250 Community Champions in stores and depots across six countries. These members of staff are dedicated to working with local schools, charities and services to support the causes that matter most of its customers.[13]  · Tesco in Europe:  · Tesco in Asia:  · Tesco in U.S:  · Tesco FDI: Foreign Direct Investment plays an important role in global economic growth and development. Due to global economic system competition increased and different governments are making strategies to reduce or remove trade barriers and encourage foreign companies for investment. Multinational companies are trying to enter new emerging economies to gain competitive advantage over their competitors.  · Tesco JV:  · sourcing: To ensure that we offer the best possible prices for customers we buy many products globally so that we benefit from our scale. We have an international sourcing office based in Hong Kong which is responsible for buying 100,000 non-food products for the Group. The international sourcing operation has seen rapid growth in the last few years and now sources 60% of our clothing in the UK and 40% of hardlines, including electricals, homewares, entertainment, toys and books. In Europe it provides over 25% of our hardlines and 85% of our clothing and we have recently started to source products for Asia. In the last year our international sourcing team shipped 72,000 containers from 54 ports.[14] We also have sourcing centres in China, India, Sri Lanka, Bangladesh and Turkey, with smaller offices in Thailand, Czech Republic and Italy. [15] We have invested in buying hubs where we have a critical mass of suppliers and shipment volumes. It helps to be close to our suppliers so that we can ensure great quality products, delivered from ethical sources, on time and at the best price.[16] Where possible we try to source products direct from factories rather than through agents or middlemen. This way we can ensure the lowest possible cost price as well as making sure that our products are sourced safely and fairly. We also manage to strip out more costs by consolidating freight volumes. This gives us the best shipping and transportation rates, which can be passed on to the customer in the form of lower prices.[17] Strategic analysis of Tescos expansion to china: to look at Tescos expansion strategy into Chinese market there are many factors involved. Reasons of Tesco global expansion: Tescos expansion was spatially characterised as being largely regional in nature and less global oriented. Cautiously, Tesco had decided to dominate the smaller central European markets that were unlikely to attract much attention from the large retail multinational peers such as Carrefour and Wal-Mart who preferred to focus on the larger markets. The company incrementally entered markets rather than entering several markets at the same time.[18] Tescos huge growth in this country is a hard act to follow. With the domestic market increasingly saturated, some UK supermarket chains, namely Tesco, Sainsbury (who have now sold their interests in the USA) and MS have looked to overseas markets to maintain their positions. This is a whole new ball game, bringing into play competition with large firms from other countries, such as US retailing giant Wal-Mart and French multinational Carrefour.[19] Main reasons for an organization to expand their business operation to overseas markets include saturated markets, growing economies and improving transportation systems and in some countries business environment seems more attractive than others. Most recently, Tesco has moved into China and the USA, and its rivals i.e. Carrefour has started pulling out of some eastern European countries while focusing on its Chinese strategy and Wal-Mart is also expanding business operation aggressively worldwide.[20] Determinants of foreign market entry modes: The choice of entry mode into a foreign market has a great impact on the success of a firms international operations, so consequently, related theories and critical determinants will be represented in the following section as to understand the relationships between MNEs and different factors. Mode of entry into foreign market: Tesco used a combination of multinational entry mode strategies within one country. As previously discussed, Tesco entered the central and eastern Europe by acquiring a relatively small chain of convenience stores in Hungary, a supermarket business in Poland and a department store chain in the Czech Republic and Slovakia (see Table II). It was certainly unusual for such a large public company to become involved in these operations, and even competitors at the time questioned the logic of their approach. However, the use of â€Å"seed acquisitions† with a view to develop knowledge of the market before expanding organically through store-by-store development allowed Tesco to minimise their own human and financial capital in the face of potential economic and political uncertainty.[21] There are a number of strategies that can be adopted by an organization as a mode of entering into foreign market i.e. foreign direct investment, wholly owned subsidiary, joint venture, franchising, licensing and contract manufacturing. Some of these strategies are associated with high risk such and needs high investment and management skills i.e. wholly owned subsidiary and direct acquisition and some of them are exposed to minimal risks from overseas markets i.e. licensing, franchising, contract manufacturing and joint venture. Joint venture is a lowest risk strategy that accompanies greater benefits for the organization such as gaining overseas market knowledge and knowing consumers behaviour from overseas partner, risk sharing and gaining quality management capability.[22] Tesco has opted joint venture in order to gain entry into Chinese market. The company has gained a substantial presence in China in 2004 by signing an agreement of 51%-49% joint venture with a host company Shanghai Hymall Commercial Retail Group which was subsequently increased to 90%-10% in 2007.[23] Market attractiveness: Reasons of global expansion: There are a number of push factors and pull factors that plays an important role in an organizations decision of expanding business operation to foreign markets. The following are the main factors that motivated Tesco to invest in China. Push Factors: Home market saturation: When a business organization decides to enter into a foreign market there are a number of push factors that instigates such organization to invest in foreign market. In the case of Tesco the main factor of its global expansion is home market saturation as there is no room for further expansion because of large number of retailers and high competition. Increased capital gain from home market: Another reason of business expansion to Chinese market could be increased capital and better performance of Tescos business in the UK market which has enabled the company to expand its business to more profitable regions i.e. china. Pull factors: Foreign market attraction: The existence of potentials and financial gains in overseas markets are important pull factors that attract foreign companies to invest in such markets. Chinese market is expanding with enormous speed and it has been predicted that the market will worth $596bn by 2010 which gives an insight to foreign companies i.e. Tesco and its rivals, to exploit the existing potentials in Chinese market.[24] High quality production at low cost: Similarly high quality production at lower cost and the availability of cheap labour is another pull factor that attracts foreign investment. To look at China labour is very cheap and the country is capable of producing high quality products at competitive cost, there for it is very advantageous for Tesco to invest in Chinese market. China is the prime location of sourcing for Tesco products within china and for its business in the rest of the world. Tesco club card loyalty scheme: Tesco is using club card loyalty scheme as a marketing tactics in order to know customers behaviour in purchasing products from Tesco[25] and in return this scheme leads to customers commitment to do business with the organisation, to purchase their goods and services repeatedly, and recommend the services and products to others.[26] Dunnings: To make an effective strategic analysis of Tesco in Chinese market it would be better to take into consideration the Dunnings Electric theory. This theory includes location advantage, ownership advantage and internalization. Motives of International Expansion Many companies expand their business internationally, and compete within the globe market. They know their domestic market better than abroad, and they may face the customs, language, tariff regulations, transport systems and volatile foreign currencies for international operation. This means they will have to face many new challenges, if they decide to enter into a new foreign market, but why do they do so? There are several motives for international expansion (Jobber, 2001). Saturated domestic markets: There are few opportunities for the company to expand in the domestic market with sales and profit pressure. This is one of the major drivers of international expansion. Many of the European supermarket chains were fuelled by the desire to take a proven retailing formula out of their saturated domestic market into overseas market. Small domestic markets: For some industries, survival means broadening scope beyond small national markets to the international arena. Companies cannot compete against with other strong global competitors. Therefore, internationalisation is the fundamental condition for them to survival. Low-growth domestic markets: when economy is in recession at home, companies want to seek new marketing opportunities in more buoyant overseas economies. Customer drivers: Customer expectation is also one of the factors, which affect the companys decision to go international. This is increasingly common in advertising, with clients requiring their agencies to coordinate international campaigns. Competitive forces: when the several companies in the same industry go abroad, this cause others to follow in order to keep the market share and growth rates. This is particular in oligopolistic industries. The attack of the foreign competitor entering into the domestic market is also another factor affecting a companys decision to go abroad. Cost factors: High national labour costs, shortages of skilled workers, and rising energy charges can raise domestic operation costs to uneconomic levels. These factors may stimulate the company to choose foreign direct investment in low costs areas, such as Asia, Central and Eastern Europe. Foreign market expansion can also reduce costs by gaining economies of scale through an enlarged customer base. Portfolio balance: Marketing in different regions provides the opportunity of achieving a portfolio balance, and each region may have different growth rates. By marketing in a selection of countries, the problems of recession in some countries can be balanced by the opportunities in more buoyant economies in other countries. First Buy successful companies abroad, not ones that need turning around:There followed a strong expansion overseas in the 1990s, with ever more significant movement into growing markets such as Hungary and the Czech Republic, Thailand and South Korea. Here Tesco was buying into successful companies, but also ensuring neighboring markets were targeted and that its expansion strategy included eventual market domination. Hence the second lesson for internationalization success: Second It is all about market synergies and market share: Internal strategic processes. One of the chief concerns for retail strategists is market selection. Tesco decided to enter into markets where local competition was soft, hence the initial forays into Eastern Europe and South East Asia, away from the harsh gaze of other expanding giants such as Wal-Mart. Tesco also adapted to opportunistic events, and decided on different entry modes in order to develop knowledge. Hence the next lesson: Third You will never learn anything until you open some kind of store somewhere: External strategic processes. Tesco were comparatively weak internationally compared to bigger, more experienced rivals, despite their increasing dominance in the UK, but it nevertheless decided on an aggressive, organic expansion strategy in its target markets that left some analysts wondering about its long-term prospects. However after sticking with the strategy, it has been paying off, with its vulnerable period seen as a necessity for long-term growth internationally. It also had problems over planning procedures in foreign countries, particularly Ireland, but negotiated with central government for mutual benefit. Also key were Tescos dealing with shareholders, who were initially wary of risking their investment abroad, and there were reports that the City held back expansion within European in the 1990s. However as initial forays such as Catteau became successful, however gradually, soon the debate surrounded the pace of expansion. Tesco initiated a ‘‘ What is apparent from the completed study is that despite concerns from analysts and shareholders about its internalization strategy, and despite negative local press and resources issues, Tesco got it right. public relations exercise to get shareholders more on board with their internationalization strategy, although this was seen through by many, and exerted debatable influence. Internal operation functions. Many international ventures founder on the failure to commit enough human capital to a project, and this constituted Tescos next lesson. Fourth Use strength and size at home to secure the best human resources overseas In order to compete with the likes of Carrefour in their own jardin, Tesco had to make sure it had the very best people on hand to drive its expansion. Experience with financial capital and marketing were also imperative, ensuring that the correct strategies and knowledge was on hand in foreign markets. This is particularly the case in the latter category, where expansion can be seen as an invasion by the home press. While Tesco almost inevitably suffered some bad press initially, the adoption of an intensive PR campaign once business success started to develop overseas highlighted the need for an evolutionary marketing strategy. [27] Factors underlying Tescos success An analysis of the UK online grocery market highlights five factors that have been critical to Tescos success profit model focus; smart mover entry; leveraging â€Å"reach†, â€Å"richness† and â€Å"affiliation† (Evans and Wurster, 1997); strategic positioning (Mintzberg and Waters, 1985; Hamel, 1997); and brand power. [28] The first ‘Fresh Easy Neighborhood Market opened in Hemet, 75 miles east of Los Angeles on 1st November 2007. As the Financial Times commented: ‘Tesco†¦has staked its fortunes on an innovative new store that is about a quarter of the size of a traditional US supermarket, building on the success in the UK and Europe of its Tesco Express local stores. Some elements of the Hemet store will be familiar to UK shoppers. But the store also includes a â€Å"kitchen table† where a staff member heats up samples of prepared foods such as pizza and chicken curry. In a further innovation, all the check-out registers require customers to scan their own goods with staff on hand to assist (Financial Times, 4 November 2007).  · Conclusion: [1] Tesco Introduction: cited at http://www.cn.tesco.com/en/aboutus/aboutus_history.htm [2] P. Mark (2005), Retail multinational learning: a case study of Tesco, Aston Business School, Aston University, Birmingham, UK, International Journal of Retail Distribution Management Vol. 33 No.1, 2005 pp. 23-48 Emerald Group Publishing Limited [3] Corporate Watch UK, Tesco: a Corporate Profile: Cited http://www.corporatewatch.org.uk/?lid=252 [4] Tesco p Annual Report and Financial Statements 2009 [5] Tesco Introduction: Cited http://www.cn.tesco.com/en/aboutus/aboutus_enterprise.htm [6] Tesco p Annual Report and Financial Statements 2009 [7] Tesco p Annual Report and Financial Statements 2009 [8] Tesco p Annual Report and Financial Statements 2009 [9] Tesco p Annual Report and Financial Statements 2009 [10] Tesco p Annual Report and Financial Statements 2009 [11] Tesco p Annual Report and Financial Statements 2009 [12] Tesco p Annual Report and Financial Statements 2009 [13] Tesco p Annual Report and Financial Statements 2009 [14] Tesco p Annual Report and Financial Statements 2009 [15] Tesco p Annual Report and Financial Statements 2009 [16] Tesco p Annual Report and Financial Statements 2009 [17] Tesco p Annual Report and Financial Statements 2009 [18]International Journal of Retail Distribution Management Vol. 33 No. 1, 2005 pp. 23-48 Emerald Group Publishing Limited 0959-0552, p 30 [19] Corporate Watch UK, Tesco: a Corporate Profile: Cited http://www.corporatewatch.org.uk/?lid=252#world [20] Wal-Mart, Tesco and Carrefour do battle in the East, VOL. 24 NO. 2 2008, pp. 5-7, Emerald Group Publishing Limited, ISSN 0258-0543 [21] International Journal of Retail Distribution Management Vol. 33 No. 1, 2005 pp. 23-48 Emerald Group Publishing Limited 0959-0552, p 31 [22] Wal-Mart, Tesco and Carrefour do battle in the East, VOL. 24 NO. 2 2008, pp. 5-7, Emerald Group Publishing Limited, ISSN 0258-0543 [23] Wal-Mart, Tesco and Carrefour do battle in the East, VOL. 24 NO. 2 2008, pp. 5-7, Emerald Group Publishing Limited, ISSN 0258-0543 [24] Wal-Mart, Tesco and Carrefour do battle in the East, VOL. 24 NO. 2 2008, pp. 5-7, Emerald Group Publishing Limited, ISSN 0258-0543 [25] Tesco American Dream, Doing it differently, Emerald insight, VOL. 24 NO. 2 2008, pp. 11-15, Emerald Group Publishing Limited, ISSN 0258-0543, p 13 [26]T. J. Jason. W. Karen (2006), University of Abertay, Dundee, UK, British Food Journal Vol. 108 No. 11, 2006 pp. 958-964 Emerald Group Publishing Limited 0007-070X (originally cited in (McIlroy and Barnett, 2000, p. 348). [27] The secrets of Tescos expansion success, How the UKs largest supermarket is creeping up on Carrefour and Wal-Mart: DOI 10.1108/02580540510630650 VOL. 21 NO. 11 2005, pp. 5-7, Emerald Group Publishing Limited, ISSN 0258-0543 [28] The UK grocery business: towards a sustainable model for virtual markets Ray Hackney Manchester Metropolitan University, Manchester, UK, and Kevin Grant and Grete Birtwistle Glasgow Caledonian University, Glasgow, UK, International Journal of Retail Distribution Management Vol. 34 No. 4/5, 2006 pp. 354-368, Emerald Group Publishing Limited

Breakfast At Tiffanys Essay -- essays research papers

Breakfast at Tiffany’s by Truman Capote is about the thought that friendship can make a person take drastic measures in helping a friend. The setting is New York City. The point of view is first person limited. Seen through the eyes of the narrator, called â€Å"Fred† ( the main character ), who is a starting writer. I enjoyed the story because it was very interesting to learn and experience life in old New York.   Ã‚  Ã‚  Ã‚  Ã‚  The story starts out, probably in the present time, when â€Å"Fred†, who had now been living in New York for a great deal of time, goes into his friend Joe Bell’s bar for a drink. There he learns the his long time friend, Holly Golightly, is still alive by the use of a photograph from an explorer which shows a wood carving made by a tribesman which bears the uncanny resemblance to Holly. After this encounter, â€Å"Fred† begins to reminisce about his past with Holly and all of their wild adventures.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Fred’s† first meeting with Holly was through his apartment window. Holly Golightly is a nineteen year-old self-sufficient woman. Some of her personality traits are admirable, affectionate, while cold hearted. She is motivated in life by striving for her purpose in life, which is to be rich and famous while keeping her ego. She believes that love is not sexual. Holly, trying to escape a horrible date, decides to visit her new downstairs neighbor. There she practically tells â€Å"Fred† everything about her life. Fred was a na...