Why Graph Databases Make a Better Home for Interconnected Data Than the Relational Databases

Why Graph Databases Make a Better Home for Interconnected Data Than the Relational Databases? With the advancements in computing technologies and the increasing processing power of machines, the necessity to shoehorn data into predefined structures is being gradually replaced by the ability to build models that can accommodate the organic growth and evolving nature of data.Systems become more and more sophisticated in representing our messy world and the interconnections we live by in it. The richer our databases get and the better (more expressive) the connections of the data items in them, the deeper our analysis and the bigger our potential to understand, manage and create processes to move our business forward.That said, having the best home for your data is a must. It is to be a space where data items not only live together but also are understood and used accordingly for insights into the relationships they exist in. Relationships expressed with tables, lots of tables: Relational DatabasesFor many years relational databases have been the dominant database choice for data storage and retrieval. The relational model stores data in tables, with rows representing instances of entities and columns representing the values attributed to each entity.For example, if you want to express that Fred, Wilma and Pebbles Flintstone, together with the notorious Bamm-Bamm Rubble are instances of the entity Person and live in the instance of City Bedrock, you can do that with the following table, where you will describe these relationships: As things change with time, and the number and the variety of relationships grow, you will need additional tables. For the newly occurred relationships to be expressed, you will create more and more tables.In relational databases, references (i.e., connections) to other rows and tables are made with the help of the so-called JOINs. This means that in order to connect an entity from one table to another, you create a third table, which matches the records from both tables.For instance, in order to express that Pebbles Flintstone became Bamm-Bamm’s wife, another table has to be created. This will be a junction table, representing Bamm-Bamm (Person.014) as an instance of the entity Husband and Pebbles (Person.013) as an instance of the entity Wife. Any other relationships you might want to add would need to be explicitly described in a table, which refers to the first table you’ve created. That is, if you want to also express that Fred (Person.011) and Wilma (Person.012) are Pebble’s (Person.013) parents, you will have to do that with yet another JOIN where Fred and Wilma are instances of the entity Parent and Pebbles is an instance of the entity Child: It is only with all these additional, explicitly expressed relationships that you will be able to use the data above to find the answer of more complex queries, such as: In which city does the child of Fred live? or Who is Bamm-Bamm’s wife or Where does the father of Bamm-Bamm’s wife live?.Needless to say, such relational representations are suitable for simple data models and connections that fit into a tabular format. They are perfectly fine for financial records, inventories, lists of students, etc. When it comes to mapping complex networks of relationships, though, the processes of joining are most often than not inefficient, time-consuming and computer power consuming.Interconnected data (the most obvious example being the data from social networks) are everything but easy to tame with the above mechanism of creating more and more junction tables and additional elements to record the ever-increasing number of relationships between data items. The relational model t urns out to be too expensive and resource-consuming to express the richness and the interconnectedness of exponentially growing in volume and variety data.ThÐ µ huge amount of heterogeneous, diverse data that surround us is to be approached differently.Relationships as paths of (machine) understanding: Graph DatabasesOutside the tables of the relational databases, there lie paths that enable managing highly connected data, working with complex queries and having readily available relationships, without the need to express them explicitly.These are the paths of a graph database.To represent and store data, graph databases use graph structures (knowledge graphs). A graph is comprised of interconnected nodes (i.e., things) and edges (i.e., relationships between things). Edges are how you can assign properties to things.Also, instead of creating tables for each relationship separately, in a graph database you will just add edges (relationships) to corresponding nodes (things). Thus a n ode’s connection, in turn, is connected to all the other connections of this same node.To get back to our Flintstones example, all the tables that you’ve created for every relationship between Fred, Wilma, Pebbles and Bamm-Bamm, would be expressed the following way in a graph database: Thus, when you connect Bamm-Bamm to Pebbles, you also connect Bamm-Bamm to all of Pebble’s connections Fred, Wilma and with their other connections city, for example. The system will implicitly hold the information about where the father of Bamm-Bamm’s wife lives, without you having to keep a record of multiple joins and tables to retrieve it.Storing data in such a manner provides the flexibility to represent complex interconnected structures and to use the information they carry in the much simpler and effective way.When should you use a graph database?There’s simply nothing you can do with graph databases that you can’t with relational ones.That said, let’s take a look at how a graph database can help you do more with data. In a sense, with graph databases, data are allowed to organically grow and easily connect with more and more items. Click To TweetIt’s only natural to consider a graph database for complex data, with many connections, the pattern of which you want to track and know about. A graph database would smoothly incorporate new heterogenous data and serve as a framework for storing, managing and querying highly connected data.Graph databases are well-suited in any case when complex relationships between people, places, events, etc. are to be expressed. Typical use cases range from managing customers and personnel data, through storing and using intelligent content, to finance and investment management.More specific application of the graph database model include:resource planningperformance analysisfraud detectioncompliance managementcontent and asset managementrecommendationsproduction managementbusiness processes optimizationidentification of patterns and insightsintegration of heter ogeneous scientific dataenterprise search and navigation optimizationThe future of data storage and management The ability to pull data and connect them gives enterprises a significant edge when it comes to the granular understanding of the environment they operate in and the optimization of their key business processes. Click To TweetThis ability depends on the quality of the models chosen for data representation, storage and retrieval. The more accurately and efficiently the structure of a particular domain is mapped, represented and interconnected, the bigger the value and the potential of the digital data it creates each and every day.Still, the decision to build a home for all your data, neatly classified and labeled, related, interconnected and easily searchable is a matter of cost and benefit analysis.What is important is to acknowledge the opportunity for data to be turned into a resource, easily accessed and effectively used across the organization. As a database can serve not only as a storage cupboard for siloed archives but rather  as a springboard for knowledge discovery.

A Quick Tour of Art Through the Ages

A Quick Tour of Art Through the Ages Put on your sensible shoes as we embark on an extremely abbreviated tour of art through the ages. The purpose of this piece is to hit the highlights and provide you with the barest of basics on the different eras in Art History. Prehistoric Eras 30,000-10,000 BC - Paleolithic peoples were strictly hunter-gatherers, and life was tough. Humans made a gigantic leap in abstract thinking and began creating art. Subject matter concentrated on two things: food, as seen in Cave Art, and the necessity to create more humans. 10,000-8000 BC - The ice began retreating and life got a little easier. The Mesolithic period (which lasted longer in northern Europe than it did in the Middle East) saw painting move out of the caves and onto the rocks. Painting also became more symbolic and abstract. 8000-3000 BC - Fast forward to the Neolithic age, complete with agriculture and domesticated animals. Now that food was more plentiful, people had time to invent useful tools like writing and measuring. The measuring part must have come in handy for the megalith builders. Ethnographic Art - It should be noted that stone age art continued to flourish around the world for a number of cultures, right up to the present. Ethnographic is a handy term that here means: Not going the way of Western art. Ancient Civilizations 3500-331 BC - Mesopotamia - The land between the rivers saw an amazing number of cultures rise to - and fall from - power. The Sumerians gave us ziggurats, temples, and lots of sculptures of gods. More importantly, they unified natural and formal elements in art. The Akkadians introduced the victory stele, whose carvings forever remind us of their prowess in battle. The Babylonians improved upon the stele, using it to record the first uniform code of law. The Assyrians ran wild with architecture and sculpture, both in relief and in-the-round. Eventually, it was the Persians who put the whole area - and its art - on the map, as they conquered adjacent lands. 3200-1340 BC - Egypt - Art in ancient Egypt was art for the dead. The Egyptians built tombs, pyramids (elaborate tombs), the Sphinx (a tomb) and decorated tombs with colorful pictures of the gods they believed ruled in the afterlife. 3000-1100 BC - The Aegean - The Minoan culture, on Crete, and the Mycenaeans in Greece brought us frescos, open and airy architecture, and marble idols. Classical Civilizations 800-323 BC - Greece - The Greeks introduced humanistic education, which is reflected in their art. Ceramics, painting, architecture, and sculpture evolved into elaborate, highly crafted and decorated objects which glorified the greatest creation of all: humans. 6th-5th centuries BC - The Etruscans - On the Italian peninsula, the Etruscans embraced the Bronze Age in a big way, producing sculptures notable for being stylized, ornamental and full of implied motion. They were also enthusiastic producers of tombs and sarcophagi, not unlike the Egyptians. 509 BC-337 AD - The Romans - As they rose to prominence, the Romans first attempted to wipe out Etruscan art, followed by numerous attacks on Greek art. Borrowing freely from these two conquered cultures, the Romans created their own style, one which increasingly stood for power. Architecture became monumental, sculptures depicted re-named gods, goddesses, and prominent Citizens and, in painting, the landscape was introduced and frescos became enormous. 1st Century-c. 526 - Early Christian Art Early Christian art falls into two categories: that of the Period of Persecution (up to the year 323) and that which came after Constantine the Great recognized Christianity: the Period of Recognition. The first is known primarily for construction of catacombs, and portable art which could be hidden. The second period is marked by the active construction of churches, mosaics, and the rise of book-making. Sculpture was demoted to works in relief only (anything else would have been deemed graven images). c. 526-1390 - Byzantine Art Not an abrupt transition, as the dates imply, the Byzantine style gradually diverged from Early Christian art, just as the Eastern Church grew farther apart from the Western. Byzantine art is characterized by being more abstract and symbolic, and less concerned with any pretense of depth - or the force of gravity - being apparent in paintings or mosaics. Architecture became quite complicated and domes predominated. 622-1492 - Islamic Art To this day, Islamic art is known for being highly decorative. Its motifs translate beautifully from a chalice to a rug, to the Alhambra. Islam has prohibitions against idolatry, and weve little pictorial history as a result. 375-750 - Migration Art These years were quite chaotic in Europe, as barbarian tribes sought (and sought, and sought) places in which to settle. Frequent wars erupted and constant ethnic relocation was the norm. Art during this period was necessarily small and portable, usually in the form of decorative pins or bracelets. The shining exception to this dark age in art occurred in Ireland, which had the great fortune of escaping invasion. For a time. 750-900 - The Carolingian Period Charlemagne built an empire that didnt outlast his bickering and inept grandsons, but the cultural revival the empire spawned proved more durable. Monasteries became as small cities where manuscripts were mass-produced. Goldsmithing and the use of precious and semi-precious stones were in vogue. 900-1002 - The Ottonian Period The Saxon king, Otto I, decided he could succeed where Charlemagne failed. This didnt work out either, but Ottonian art, with its heavy Byzantine influences, breathed new life into sculpture, architecture, and metalwork. 1000-1150 - Romanesque Art For the first time in history, art is described by a term other than the name of a culture or civilization. Europe was becoming more of a cohesive entity, being held together by Christianity and feudalism. The invention of the barrel vault allowed churches to become cathedrals, sculpture became an integral part of the architecture, and painting continued mainly in illuminated manuscripts. 1140-1600 - Gothic Art Gothic was first coined to (derogatorily) describe this eras style of architecture, which chugged on long after sculpture and painting had left its company. The gothic arch allowed great, soaring cathedrals to be built, which were then decorated with the new technology of stained glass. During this period, too, we begin to learn more individual names of painters and sculptors - most of whom seem anxious to put all things Gothic behind them. In fact, beginning around 1200, all sorts of wild artistic innovations started taking place in Italy. 1400-1500 - Fifteenth-Century Italian Art This was the Golden Age of Florence. Its most powerful family, the Medici (bankers and benevolent dictators), lavishly spent endless funds for the glory and beautification of their Republic. Artists flocked in for a share of the largess, built, sculpted, painted and began actively questioning rules of art. Art, in turn, became noticeably more individualized. 1495-1527 - The High Renaissance All of the recognized masterpieces from the lump term Renaissance were created during these years. Leonardo, Michelangelo, Raphael, and company made such surpassing masterpieces, in fact, that nearly every artist, forever after, didnt even try to paint in this style. The good news was that, because of these Renaissance Greats, being an artist was now considered acceptable. 1520-1600 - Mannerism Here we have another first: an abstract term for an artistic era. Renaissance artists, after the death of Raphael, continued to refine painting and sculpture but they did not seek a new style of their own. Instead, they created in the technical manner of their predecessors. 1325-1600 - The Renaissance in Northern Europe It did occur, but not in clearly defined steps as was the case in Italy. Countries and kingdoms were busy jockeying for prominence (fighting), and there was that notable break with the Catholic Church. Art took a back seat to these other happenings, and styles moved from Gothic to Renaissance to Baroque in sort of a non-cohesive, artist-by-artist basis. 1600-1750 - Baroque Art Humanism, the Renaissance and the Reformation (among other factors) worked together to leave the Middle Ages forever behind, and art became accepted by the masses. Artists of the Baroque period introduced human emotions, passion, and new scientific understanding to their works - many of which retained religious themes, regardless of which Church the artists held dear. 1700-1750 - The Rococo In what some would deem an ill-advised move, Rococo took Baroque art from feast for the eyes to outright visual gluttony. If art or architecture could be gilded, embellished or otherwise taken over the top, Rococo ferociously added these elements. As a period, it was (mercifully) brief. 1750-1880 - Neo-Classicism vs. Romanticism Things had loosened up enough, by this era, that two different styles could compete for the same market. Neo-classicism was characterized by faithful study (and copy) of the classics, combined with the use of elements brought to light by the new science of archaeology. Romanticism, on the other hand, defied easy characterization. It was more of an attitude, one made acceptable by the Enlightenment and dawning of social consciousness. Of the two, Romanticism had far more impact on the course of art from this time forward. 1830s-1870 - Realism Oblivious to the above two movements, the Realists emerged (first quietly, then quite loudly) with the conviction that history had no meaning and artists shouldnt render anything that they hadnt, personally, experienced. In an effort to experience things they became involved in social causes and, not surprisingly, often found themselves on the wrong side of Authority. Realistic art increasingly detached itself from form and embraced light and color. 1860s-1880 - Impressionism Where Realism moved away from form, Impressionism threw form out the window. The Impressionists lived up to their name (which they themselves certainly hadnt coined): Art was an impression, and as such could be rendered wholly through light and color. The world was first outraged by their effrontery, then accepting. With acceptance came the end of Impressionism as a movement. Mission accomplished, art was free to spread out now in any way it chose. The Impressionists changed everything when their art was accepted. From this point on, artists had free rein to experiment. Even if the public loathed the results, it was still Art, and thus accorded a certain respect. Movements, schools, and styles - in dizzying number - came, went, diverged from one another and sometimes melded. Theres no way, really, to accord all of these entities even a brief mention here, so we will now cover only a few of the better-known names. 1885-1920 - Post-Impressionism This is a handy title for what wasnt a movement, but a group of artists (CÃ ©zanne, Van Gogh, Seurat, and Gauguin, primarily) who moved past Impressionism and on to other, separate endeavors. They kept the light and color Impressionism bought but tried to put some of the other elements of art - form, and line, for example - back in art. 1890-1939 - The Fauves and Expressionism The Fauves (wild beasts) were French painters led by Matisse and Rouault. The movement they created, with its wild colors and depictions of primitive objects and people, became known as Expressionism and spread, notably, to Germany. 1905-1939 - Cubism and Futurism Picasso and Braque, in France, invented Cubism, where organic forms were broken down into a series of geometric shapes. Their invention would prove elemental to the Bauhaus in coming years, as well as inspiring the first modern abstract sculpture. Meanwhile, in Italy, Futurism was formed. What began as a literary movement moved into a style of art that embraced machines and the industrial age. 1922-1939 - Surrealism Surrealism was all about uncovering the hidden meaning of dreams and expressing the subconscious. It was no coincidence that Freud had already published his ground-breaking psychoanalytical studies prior to this movements emergence. 1945-Present - Abstract Expressionism World War II (1939-1945) interrupted any new movements in art, but art came back with a vengeance in 1945. Emerging from a world torn apart, Abstract Expressionism discarded everything - including recognizable forms - except self-expression and raw emotion. Late 1950s-Present - Pop and Op Art In a reaction against Abstract Expressionism, Pop Art glorified the most mundane aspects of American culture and called them art. It was fun art, though. And in the happening mid-60s, Op (an abbreviated term for optical illusion) Art came on the scene, just in time to mesh nicely with the psychedelic music. 1970s-Present In the last thirty-odd years, art has changed at lightning speed. Weve seen the advent of performance art, conceptual art, digital art, and shock art, to name but a few new offerings. As we move toward a more global culture, our art reminds us of our collective and respective pasts. The technology with which youre reading this article will surely be improved upon and, as it is, we can all keep (nearly instantly) abreast of whatever comes next in arts history.

Evaluate 2 aspects of effect of globalization in India in the last 5 Essay

Evaluate 2 aspects of effect of globalization in India in the last 5 years - Essay Example FDI has tremendous impact in economic development of India. Among the emerging economies, India offers the most liberal and transparent policies on FDI investments. The following table shows how FDI inflows from different countries flew to India. The maximum impact of FDI has taken place in service sector which at 21% includes financial sector, information technology, and travel business. Computer software and hardware businesses are next in the line contributing around 9%. Telecommunication sector has grown rapidly in India due to huge contributions by FDI. There is no surprise that Indian telecom industry which is growing at the rate of 45% has the highest growth rate found in the world. (Chaturvedi, Ila 2011) Indias growth story and FDI has direct linkages. Ratio of FDI Inflow to Gross Capital Formation rose to 9.6 percent in the year 2008, which was found to be only 1.9 percent during 1999-2000. In the same way, ratio of FDI Outflow to Gross Capital Formation went to 4.1 percent in the year 2008 which was ruling at only 0.1 percent during 1999-2000. (Ansari, Shamim 2010) India has been one of the most lucrative destinations for investment in the service sector for its competitive wages and due to huge demand and supply gaps in the sectors like insurance, banking, telecommunication and financial services. India has become a hub for back-office processing, medical transcription services, call centres, knowledge process outsourcing and back office accounting and financial services apart many other services including software and information technology business. The Indias average quarterly Gross Domestic Product Growth rate averaged 8.4 between 2005 and 2010 that reached at its pinnacle in September, 2006. This growth rate should be seen at the back drop of previous growth rates that prevailed around 5.5 percent before 2005. Globalisation means opening up of markets for

Case study ethics Essay Example | Topics and Well Written Essays - 2500 words

Case study ethics - Essay Example on to health and safety of people, making use of stolen code, offering services for the post for which, one is not suitable and capable and production of fake test results. All these ethical problems become a cause for the death of a human being. The leadership of the company, Silicon Techtronics Inc. also took unethical and autocratic decisions due to which, the co-workers were made to take support of unethical steps in order to safe guard their jobs. The time assigned for the development of the software program was not much and in a little time, an imperfect software was developed and this imperfection was hidden from the users. This essay takes into consideration the ethical issues along with the ethical codes applicable on those issues. In addition, it also informs about the philosophical theory that could have brought a change in the results. Randy Samuels was indicted to be involved in the killing of Bart Matthews on the basis of the program that he wrote for the functioning of the arms of the robot. Bart Matthews was the robot operator in the firm. Due to the malfunctioning of the robot, Matthews was put to death. The robot moved its hands violently due to which, Matthews’ skull got damaged and he died at the spot. Randy Samuels was accused because it was analyzed that he made use of the coding language erroneously and carelessly. Randy Samuels misinterpreted the codei due to which, the robot functioned wrong. The ethical consideration that is applicable in this situation is, â€Å"You shall not claim any level of competence that you do not possess. You shall only offer to do work or provide a service that is within your professional competence.†ii When Samuel was not fully sure about his competence and experience, he should not have offered his services for programming. He should have assessed his knowledge and expertise for programming. The resulting death of Matthews indicates that Samuels had not made use of his programming before and he was not

The implications of the European monetary union Essay Example for Free

The implications of the European monetary union Essay In this report, I will be addressing the implications of the European monetary union and the problems Zeus will have in developing their market in Europe. The UK and EMU When the UK decided not to join the European monetary union (EMU) in 1999, it affected UK businesses, especially those who trade within the EU. Does it matter whether sterling is in or out? For many UK Businesses, trading within the EU has become more competitive. After the introduction of the Euro, an Italian company for example, competing for a German companies business could cut 3% of costs due to their common currency, making it harder for UK business to compete. Currently UK businesses are paying à ¯Ã‚ ¿Ã‚ ½3bn per year in exchange rates, which hit small firms like Zeus the hardest. Advantages By joining the single currency, British businesses will benefit from a fixed exchange rate allowing businesses to plan and budget for future activities more accurately. Fixed exchange rates will deliver stability and increase confidence that will lead to more investment and jobs. By staying out of the Euro Britain will be at a disadvantage to competitors in the Eurozone who already trade with each other using the same currency. The development of free trade has contributed enormously to the economic prosperity across the EU, with the strong position of the wealthier nations and helping to bring the poorer nations more stability and economic success. The introduction of a single currency removes one of the final barriers to free trade i.e. the transaction costs and the uncertainty involved in currency conversion. The removal of national currencies will encourage cross-border investment since the traditional reluctance of many investors to move their money into a currency other than their own will no longer be a factor. Businesses across the Eurozone will therefore be able to attract more investors from other Eurozone countries, and investment will be based on the competitiveness of a business rather than its nationality. This will increase the pressure on uncompetitive businesses to improve their efficiency. An increase in cross-border mergers and acquisitions will also lead to more streamlined and efficient businesses across the Eurozone. Disadvantages Most of Britain international trade is carried out in US dollars, a currency against which the pound has enjoyed far more stability than has the Euro. The fact that the pound has risen so much against the Euro since the Euros launch is a sign of the Euros weakness. Changeover to the Euro would be endured by all businesses in the UK, whether or not they trade with Eurozone countries. Most British companies, sell to local markets. These firms would still incur the costs of conversion and not see any benefit from the removal of currency transaction costs. While there would be a saving from the absence of currency transactions for exporters, these would be offset by the costs of the changeover. There have been fears that inward investment in British based industry would suffer as a result of staying out of the Euro, the reality has been very different. In 2001 the Office of National Statistics reported that inward investment in Britain for the 2000/2001 financial year was à ¯Ã‚ ¿Ã‚ ½341 billion, an increase of 36% over the previous year. The theory that a single currency will lead to the harmonisation and lowering of prices across Europe seems hard to support. Regional differences in prices are a result of differences in levels of taxation as well as variations in labour, property and transportation costs. The cost of living in different parts of the UK varies considerably, even though all regions share the same currency. Less scrupulous retailers would use the introduction of the Euro to round-up prices, just as they did during decimalization 30 years ago. How This Effects Zeus Being part of the EMU will benefit a small company like Zeus, (see advantages above) however, there are some other factors that Zeus need to be aware of. Promotion and packaging will also have to change. The language and content on the wrapping and will have to that of the country it is being sold in. Health and safety requirements of products would have to meet one standard rather then having to adapt products for different countries, however since Zeus currently trade mainly in the USA they would need to adapt their product to EU standards in order to trade within the community, which might be costly but beneficial. Cost of the Benefit If the UK were to join the EMU, cost increases and reductions will occur. Change of Equipment The costs for UK businesses of abolishing the pound and substituting the euro would be massive notes and coins would need to be replaced, along with cash registers, cash dispensing machines, accounting systems etc. The retail sector would have to undergo a complete renovation of cash systems. The costs of this changeover would affect all businesses in the UK, whether or not they trade with Europe and whether or not they will benefit. Consumers and businesses would have to pay for these costs through higher prices and taxes. It would take years before the trivial day-to-day savings on European transactions outweighed the costs of the changeover. More Competitive Markets The Euro ensures companies will face a more integrated European market. Cross-border trade and investment will be stimulated and competition strengthened in many markets. Businesses who see foreign exchange risk and transaction costs as barriers to cross-border trade are likely to move into new markets once these barriers are removed. New business start-ups may also be encouraged. Transparent Price Differences It will be possible to directly compare prices for the same goods and services in different EU countries and spot the best prices. Despite the SEM, price disparities persist as a result of differential pricing policies, tax rates, transportation costs, national market structures, and perceived product values. The ability for consumers to compare prices will move prices towards the lowest market level and businesses will find it hard to maintain pricing policies by country and currency. Treasury and Finance For many European businesses the Euro will present opportunities for long-term savings altering balance sheets, cash flow management, currency management, and corporate finance. Businesses with units operating in different currencies will be able to record and compare all accounting values, margins, costs, expenditures etc. in one currency. Such transparency may greatly assist in processes of internal planning, accounting, and benchmarking. Foreign Exchange Eurozone firms avoid the risk of exchange rate changes. Exchange rate movements dont impose a penalty but volatility in exchange markets and the unpredictability of rates can be costly. Many firms have opted to hedge exchange risks for long-dated transactions or included a margin in their prices to cover exchange rate movements. Under the single-currency, foreign exchange transaction costs are eliminated on internal dealings with benefits as much as 8% on the total price of industrial goods. Wage Transparency Employees will find it easier to calculate and compare wages between workers in different countries within the same company. Transparency of wages will bring salary convergence closer to reality and increase labour mobility. Variations in salary and remuneration exist today and workers always ask why are they paid that much over there when Im paid this much here?, firms can usually demonstrate difference in taxation, benefits, purchasing power etc. by country and currency. Organisations need to consider how to set fair and competitive remuneration packages in a Euro-denominated environment. Lower Borrowing Costs Its axiomatic with a single currency and single central bank that there will be a single interest rate. Banks will lend in Euros and enterprises will be able to borrow from outside their countries without incurring the risk of exchange rates, reducing borrowings costs. Cost savings may be greatest in countries where Euro interest rates fall below previous rates. The introduction of the Euro should favour the development of new financing methods. Overall, firms should have more choice and flexibility in raising finance and, in many cases, will face lower costs. How This Effects Zeus All these costs are going to affect Zeus and it might be a good idea for Zeus to look into these costs now, if they want to stay trading in years to come. Moving Production Many multi-national companies have expressed misgivings of Britain staying out of the Euro and state it could affect investments in British jobs. Companies want to know the value of the goods they sell from the UK will not decrease due to fluctuations in the exchange rate between Britain and the European countries and the cost of British labour will not rise significantly due to a strengthening pound. However, American, Asian and other foreign companies favour the UK as a base for their European operations because of factors such as culture, language, a de-regulated, business friendly environment, and low levels of taxation and corruption. EMU entry could reduce the cost of capital for UK firms if long-term interest rates fell within the EU and if membership of a larger financial market reduced the cost of finance. These costs could fall for SMEs in particular if joining EMU lowers the barriers which prevent SMEs accessing EU financial markets and lowers the cost of bank lending. Over time, EMU is likely to boost cross-border investment flows and foreign direct investment (FDI) in the Eurozone. The UKs share of total EU FDI flows has fallen, coinciding with the start of EMU, and a corresponding increase in the share of the Eurozone. But against the backdrop of many other influences on FDI flows, its difficult to say EMU has boosted FDI within the Eurozone. Successfully operating EMU and UK membership of it on the right basis, would boost FDI over the longer-term. The longer membership of the euro is delayed, gains of increased inward investment are postponed. If sustainable and durable convergence is achieved, then the quantity and quality of investment would increase. How This Effects Zeus If Zeus was to relocate to Europe, there would be decreased production, transport and currency costs however the initial outlay moving into Europe will be costly but allow Zeus to be in the market they wish to operate in. The skills and expertise of the workforce of that county may not have what Zeus require and may cost more money training employees to the standard required. Moving production into a different country may benefit the company as all countries have differing resources, like labour. Zeus will need to evaluate all the factors involved in moving production and decided wheather it would be beneficial for them. Expansion in Europe With more than half the UKs trade with the EU and increasing integration of product, labour and capital markets, the UKs economic interest is best pursued through a deepening cooperation with other European countries as part of the Governments commitment to a strong EU and a successful EMU. As the Prime Minister said in November 2002: We should have more self-confidence because we are a leading European power, always have been and always will be. However, there are implications to expanding a businesses share in the European market. The Governments objectives These global and European trends are mirrored in the Governments central economic objective for the UK to build a stronger, more enterprising economy and a fairer society, extending economic opportunity and supporting those most in need to ensure that rising national prosperity is shared by all. and strategy Stability, productivity and employment opportunity are the foundations of the Governments economic strategy. Since 1997, the Government has taken tough decisions and introduced wide-ranging reforms to establish a platform of economic stability and to promote work and enterprise, tackle poverty and deliver sustained investment to modernise public services. The Governments decision on UK membership of the single currency must contribute to these objectives. The benefits from adoption to the euro depend on trade integration between the UK and the Eurozone through the elimination of currency fluctuations and transaction costs. The UK has increased trade within the EU since joining. Chart 5.3 shows how UK trade with the EU has risen by 5%. The impact of EMU on UK trade, competition, productivity and growth thorugh substantial possible gains EMU membership could enhance productivity in the medium-term by increasing trade and investment and stimulating competition, also helping to promote economic reform in the EU and encourage specialisation in the longer-term. Therefore, EMU could effect the five key drivers of productivity. Based on broad-based evidence on the impact of trade, it seems reasonable to assume that each 1% increase of trade to GDP increases real GDP per head by at least 1/3 % in the long run and perhaps as much as 2/3 %. In a best case scenario, with stability through sustainable and durable convergence, a long-term increase in trade with the Eurozone at the top of the 5% to 50% range and increased investment spurring competition, UK output could be around 9% higher over 30 years within a successful EMU than outside. This could add around 1/4% a year to GDP growth. but not without sustainable and durable convergence Conditional on the achievement of sustainable and durable convergence between the UK and the euro area. Where it is not assured, the trade benefits from EMU would be likely to be at the lower end of the range, meaning gains to trade and competition from membership could be negligible. Estimates suggest a lack of flexibility and convergence in some EU countries. However, EMU has increased trade within the EU by 3% and 20% since 1999. Volatility and uncertainty resulting from EMU membership in the absence of sustainable and durable convergence could have a negative impact on the actual level of UK output in the long-term. The Governments strategy to tackle the barriers to productivity growth and close the productivity gap, involves continued microeconomic reforms in the UK to target the five key drivers of productivity combined with support at the European level for policies to strengthen competition and the Single Market. How This Effects Zeus Expanding into the European market place has two major implications that Zeus will need to consider. Firstly that since EMU, theres increased competitiveness within the EU and Zeus may find it hard to compete if their strategy and overall business is not strong. And when the 10 new countries enter the EU and join the EMU, it could decrease sales and profits even production as their economies are weaker then the rest of the EU and would affect Zeus expansion into Europe. Political Implications There are as expected, political implications to expansion into the European marketplace. In the UK, taxation on businesses is not as high as other EU countries, as the UK government want to promote economic growth. If the EU were to set the level of interest and taxation for all Eurozone countries it may not be beneficial for all countries or their goals. It could be seen as too much involvement and lack of sovereignty power and could cause bureaucracy and federalism. It could be argued that by joining the EMU the UK would lose its economic and political sovereignty; something the UK is not currently ready to give up for the euro and its benefits. To protect their own interests, countries can restrict imports by putting limitations, subsidies, quota or import duties to imports to protect industries. But this does nothing to protract free trade within the EU. Free trade was developed to increase political and economic stability within the EU. How This Effects Zeus Businesses like Zeus will need to consider political implications. Zeus will benefit from the movement of free trade within the EU, and the low taxation within the UK for businesses, however there are other political issues that Zeus will need to consider whether they stay in the UK or move into Europe. These are; o Social policies ~ health and safety standards, holiday/sick pay, working time directive, working conditions etc. o Environmental requirements ~ such as noise and pollution levels, safety fittings etc. o Technological ~ does the technology meet business requirements? do the workforce know how to use the equipment? etc. Recommendation I would recommend that Zeus stay in the UK. When the 10 new countries join the EU, EMU will be affected and it would be well advised to consider in the future expanding into Poland as they are in the centre of the EU and have a highly skilled and are inexpensive workforce to employ. Currently it would beneficial for Zeus to stay in the UK due to the governments objective to build a stronger economy. I would recommend that Zeus seriously look into moving or expansion into Europe and see how this mirrors with current and demand. Bibliography Books Palmer A, The Business Environment, 2002 Mercado S, European Business, Pitman, 2001 Piggott J, International Business Economics, 1999 Davison Purple, The European Competitive Environment, 1995 Websites www.bbc.co.uk/bitesize/business www.gov.org.uk www.offical-documents.co.uk HND UNIT 29: European Business

Summary of A Tale Of Two Cities :: essays research papers

Dr. Alexander manette was a prisoner in the Bastille for 18 years. He is released and taken back to London by Jarvis Lorry of Tellson Bank. Dr. Manette is a little crazy because of all the years he spent locked up in solitary confinement. He has a daughter, Lucie, who was a young girl when he was sent to prison. On a boat trip, Lucie meets a young man named Charles Darnay and is taken with him. They discuss the American Revolution. Darnay is a Frenchman, but he has relinquished the title of his nobility. He is tried for treason in England. However, Darnay's lawyer, Sydney Carton, points out that there is no way to prove that Darnay could have done it because the two men look alike and the witness could not say for sure that it was Darnay. Despite this brilliant defense (on which Darnay is released) Carton leads a solitary life of drunkeness, playing secone man to his boss, Stryver (who is by all means incompetent). By this point, Carton, Darnay, and Stryver all want to marry Lucie. She chooses Darnay and they are married. Right before the wedding, Darnay mentions to Dr. Manette that he has something important to tell him. Darnay tells him that he is Charles St. Evremonde, the nephew of the Marquis St. Evremonde, who was responsible for Dr. Manette's imprisonment. When Darnay tells him this, Dr. Manette falls back in to his stupor. Darnay is convinced by the Revolutionaries to return to France by a fake letter from an old servant. Upon his arrival, he is arrested for being an aristocrat, even though he renounced his property. Unfortunately, Darnay is not as lucky in his second trial. He is condemned mainly on the testimony of his father-in-law, Dr. Manette, who wrote a statement against the Evremondes while still imprisoned. He is sentenced to death. Out of love for the Manette family and Lucie in particular, however, Sydney Carton goes to Paris. He manages to smuggle himself into prison and Darnay out.

Amway in China: a Case of Corporate and Brand Reputation Essay

With the turbulent regulatory environment for the direct selling industry in China, the November 2005 announcement that Amway China Co. Ltd (ACCL) had over $2 billion in sales for the second consecutive year is significant for the multilevel direct selling giant, Amway Corporation. China remains the leading market of their worldwide operations even though direct selling was banned in 1998. Their success can be attributed to responses by the corporate and local management for adapting during the ten years of business operations in China. Eva Cheng, chairwoman of Amway (China) and an executive vice-president of Amway Corporation, told a press conference in Guangzhou, â€Å"We have been told to shut down five times and to change our way of doing business four times. We depend on product quality more than our business license.† New regulations in December 2005 will pose further modifications to the Amway business model in China. â€Å"Despite the uncertainty, ACCL performed admirably,† said Steve Van Andel, Chairman of parent company Alticor. â€Å"We continue to examine our future options in China in light of the new rules, which have yet to go in effect. We are very optimistic that China will continue to be our strongest performing market.† The Company Profile Founded in 1959, Michigan-based Amway Corporation is a large direct selling company of personal care, home care, nutrition and commercial products. It is a wholly owned subsidiary of privately-held Alticor, Inc. that operates primarily through Amway Corp; Quixtar Inc.,a North American Web-based business opportunity; and Access Business Group LLC, a product development, manufacturing and logistics provider to Amway, Quixtar and other companies. Alticor Inc. and its family of companies reported sales of $6.4 billion for the performance year ending August 31, 2005. Amway operates in more than 80 countries in Asia, Africa, Europe and the Americas. Products offered include brands such as Nutrilite vitamins and food supplements, Artistry skin care and color cosmetics, eSpring system, Magna Bloc therapeutic magnets and SA8 laundry system. Access Business Group manufactures Amway’s brand products in facilities in Ada (Michigan), Buena Park (California) and Guangzhou (China). Amway’s products and services are marketed through more than 3 million independent business owners (IBOs) and sales representatives worldwide through a multilevel direct selling model. Direct sales, as defined by the World Federation of Direct Selling Associations, is â€Å"a process involving the marketing of products and services directly to consumers in a face-to-face manner, away from permanent retail locations.† Annual worldwide sales in this sector are nearly US $90 billion, half of which are in the United States and Japan. In the United States, approximately 80% of direct sales are by multi-level marketing organizations, where salespeople are paid not only on their own personal sales, but also on the sales of other salespeople whom they recruit and train through up-line and down-line relationships. History of Involvement in China Amway (China) Co., Limited incorporated as a joint venture in 1992 and opened a 152,000 square foot manufacturing plant in the Guangzhou Economic and Technical Development Zone on January 18, 1995. The Amway operations in the People’s Republic of China are part of Amway Asia Pacific Ltd., a publicly traded company until becoming privately owned in 2000, that encompasses Amway businesses in Hong Kong, Macau, Malaysia, New Zealand, Taiwan and Thailand. Initial manufacturing for the Chinese market included five homecare household cleaning products, with personal care products introduced throughout the year. Amway China commenced sales operation in the Guangdong and Fujian provinces in April 1995. Following the multilevel direct selling model of Amway, a minimum monetary investment of approximately US$85 for married couples and individuals was required to establish their own business. New distributors received training and support from their sponsors and were encouraged by motivational programs and incentives. The total sales to the network that the distributor helped recruit, train and motivate was considered in calculating bonuses. Thousands of sales representatives registered during the first years, bringing Amway’s net sales in China to $178 million for fiscal year 1997. Until the 1990’s, direct selling was not an established method of distribution in China. Chinese officials interpreted the term for direct selling, â€Å"chuanxiao,† as â€Å"passing products from one layer of participants to another layer of participants, with the product price increased at each layer† which is not a factual representation of the business model of most direct selling companies. Meanwhile, illegal smuggling of imported products, mass meetings to recruit salespersons and â€Å"get-rich-quick† schemes generated attention of Chinese officials, resulting in the first national regulation on direct selling in 1994. These regulations focused on preventing fraudulent activities and set limits on advertising for recruits and compensation for introducing new sales representatives. In 1998 – after numerous attempts to address violations of the chuanxio regulations, and two highly publicized scams in Huizhou City and Xingsha – the State Council ordered all direct selling companies to cease operations, disband distributor networks, clean up debts, and modify its sales method. Response to restriction on direct selling Forced to restructure the business, Amway worked with the Chinese officials to implement a model that would allow sales representatives to continue participation in the business. â€Å"While we will have to make a number of changes in how we operate, in all of our discussions with the Chinese government it was essential that we retain the foundation of an independent sales force to service our customers,† said Richard DeVos, president of Amway Asia Pacific. Under the approved plan, Amway’s product distribution centers throughout China became â€Å"retail locations† with Amway branded products marked at retail price. Once a Chinese consumer bought Amway products for two consecutive, they became â€Å"privileged customers who buy Amway products at a 15 percent discount for their personal use.† These â€Å"privileged customers† could apply to Amway to be sales representatives to buy Amway products directly from the retail stores at the full price, paying with the customers’ money and delivering the products to customers. They received a 15 percent commission on sales to their customers. By establishing 180 company-owned retail locations by 2005, the plan allowed an estimated 180,000 direct sellers to continue to operate within what the company terms a mode of â€Å"selling through shops, plus the use of sales representatives.† However, the approval to continue business stipulated that sales representative income was based on individual results, not those of the team – a move intended to limit the attraction of forms of direct selling that might lead to pyramid frauds. In anticipation that the regulations may change, sales representatives continued to introduce others to the business while not receiving commission from their sales. Through obtaining appropriate business licenses, approximately 80,000 sales representatives became authorized agents whose compensation included both team performance and their own sales. Corporate Sponsorships Amway continued its tradition of involvement with the community through corporate sponsorships that enhanced its reputation in China. By the end of Aug 2005, Amway China supported over 1,800 charity projects in the areas of children, health and environmental protection. These projects resulted in earning over 1,200 honors and awards. The China Charity Association granted the company the award of Exemplary Benefactor to Social Welfare in 2002. For environmental initiatives, the Chinese Ministry of Land and Resources awarded Amway China the title of â€Å"Model Enterprise for Protecting Earth’s Resources† in 2002. Other rewards include: â€Å"Star Enterprise to Contribute to the Public Welfare† by China Children and Teenagers’ Fund, â€Å"Advanced Enterprise for Excellent After-Sales Service and Product Quality† by China General Chamber of Commerce in 2003. In 2004, Fortune (Chinese Edition), listed Amway China as one of the â€Å"Most Admired Companies,† Most Influential MNC, and Most Influential Brand. Brand Positioning According to John Parker, Chief Marketing Officer of Amway Corporation, Amway views their product portfolio in terms of the way in which products support the business opportunity to enable the independent business owners to recruit, to retail, and to qualify for higher award levels. Without multilevel direct selling in China, the focus is on creating a portfolio of products and brands with a price/value relationship that allows sales representative to succeed in developing customers. Amway China produces and markets more than 160 products, including Nutrilite( food supplements, Artistry( skin care and cosmetics, personal care and home care products. To make the brand more visible and make it easier for the sales representatives to sell products to the customer, Amway China invested over 30 million US dollars for advertising in 2005. Amway broadcast films of Artistry cosmetics and Nutrilite nutrition products in 1,500 business buildings throughout China and more than 4,000 liquid crystal display televisions in Shanghai’s underground carriages. Artistry was the title sponsor bringing â€Å"The Phantom of the Opera† to Shanghai. Sponsorship of the first health runs to take place in China has coined the term â€Å"Nutrilite Health Runs† for what most countries would call 10K or marathons. For the Chinese, the Nutrilite brand has become synonymous with fitness and activity. According to the Euromonitor, Amway China was the fourth largest company in cosmetics and toiletries sales in 2005 – with a 5% market share overall. The cosmetic brand Artistry was second in overall cosmetic brand share, with 4.3%, closely following Procter & Gambles, Olay brand with 5%. It is the second largest in Color Cosmetics with 7.5% market and brand share in all regions of China. In the over-the-counter healthcare category, Amway held an overall value share of nearly 19%, far exceeding that held by the next closest competitor. Amway was the top performing player in vitamins and dietary supplements in China, capturing over 25% of vitamins and dietary supplements in 2004. Nutrilite, was the leading brand with value share of more than 13%, including the best selling brand Nutrilite Protein Powder, and its multivitamins and other dietary supplements, such as calcium and fish oil. In the home care products, Amway China is not a major player, with 0.1% of the overall market, however have brand recognition and share in laundry care and dishwashing products. The laundry detergent, SA8, is ranked ninth in the nation with 0.5% brand share and Dish Drops is ranked eleventh with a 1.1% brand share. Commitment to product development for the Chinese market includes seven laboratories for quality assurance and two research and development centers in Guangzhou and Shanghai. The Company has been awarded the Advanced Technology Enterprise for three times from 1996 to 2002. In 2004, Amway increased its investment in China by US$120 million to set up a research and development center in Shanghia to explore introducing herbal medicinal elements to its products. Continuing lobbying for resumption of direct selling in China Recognizing the large potential of direct selling in China, Amway participated in efforts of the American Chamber of Commerce, the US-China Business Council, and the World Federation of Direct Selling to lobby for Chinese participation in the World Trade Organization (WTO). Most importantly, Amway’s chairman Steve Van Andel addressed the U.S. House Ways and Means subcommittee to urge China’s accession, in order to normalize trade relations with China on a permanent basis as well as to gain trust from Chinese government. China’s accession into the WTO in 2001 was expected to help improve the environment for direct sales in the country. China committed in their WTO agreement to allow market access for â€Å"wholesale or retail trade services away from a fixed location,† requiring China to fully open up the direct sales market by December 11, 2004. After much delay, the new regulations announced in September of 2005 permit direct selling in China with a number of restrictions. The most detrimental to the multinationals in the market is that the new law defines all multi-level marketing compensation structures as illegal chuanxiao. The new regulations also impose training restrictions that all salespersons will be required to pass an examination and be certified, as well as limit sales representative compensation to 30% of personal sales. Three other requirements to obtain approval include 1) three years of foreign operating experience before being allowed within China 2) â€Å"service centers† in every province where product is sold and 3) a minimum bond of 20 million RMB plus 15% of monthly sales up to a maximum of 100 million RMB. Upcoming challenge Amway China admits that the transition to comply with the new regulations will take time given their position as the largest direct selling company in China, with 50% of the market and more than ten times the sales volume of competitor Avon. The company can continue operating under its current approval while evaluating changes needed to meet the expectations of the Chinese government and therefore are not concerned that Avon was first to receive approval from the Ministry of Commerce to engage in direct selling in China. Under the new legislation, sales representatives may sell products outside of a fixed retail location, providing Amway representatives further opportunities to generate sales. Additionally, lifting restrictions on imported products may allow Amway China to access over 450 kinds of goods from its parent company. The continuing ban on multilevel direct selling will be the most challenging aspect of Amway’s response to new regulations. Amway’s success worldwide relies on a motivated sales force through multilevel compensation. One authorized sales agent of Amway in China is quoted as saying â€Å"We still face a huge challenge in China, because multilevel marketing is where the real profits lie.† The 180,000 Amway sales representatives in China look for the company leadership to consider their interests while pursuing solutions that meet the new regulations. Eva Cheng states â€Å"We will review the nature of the authorized agents’ jobs and make whatever modifications are necessary to ensure the company’s marketing activities are not open to allegations of chuanxiao.† Questions for Discussion 1. Who are the stakeholders for Amway in China? How would a stakeholder analysis help in developing a communication strategy? What is your recommendation for a communication strategy during this transition period? 2. Why is it important for Amway to be good corporate citizen in China? Can â€Å"doing good† overcome negative or inaccurate perceptions of the direct selling industry in China? 3. To what degree has Amway standardized its brand globally? How has it adopted its promotion strategy to local conditions in China? 4. What options does Amway have to address the new regulations on direct selling in China? What are the advantages and disadvantages associated with each? Sources Amway Fact Sheet, Alticor Fact Sheet, Amway China Fact Sheet. â€Å"Amway Regulates Agents in China Market.† Alestron (March 8, 2006) â€Å"Amway Starts Promotion in China.† Alestron (May 14, 2004): â€Å"China on Verge of Opening Vast Market for Direct Selling.† Nutrition Business Journal 10, 4 (2005): 9-12. Chung, Olivia. â€Å"First Law of Direct Sales: A Clear Ban on Multi-Level Marketing in China Will Mean Harder Times for Amway and Avon.† The Standard, September 26, 2005. â€Å"Cosmetics and Toiletries in China (June 2006).† Euromonitor. â€Å"Direct Sales in China.† Washington, DC: World Federation of Direct Selling, 2005. Gee, Pauline. â€Å"Fighting fit: amway has had to persevere in China but its determination to succeed there means it now holds an enviable position. (Country Report: China).† Soap, Perfumery & Cosmetics Asia (Nov 2002): 15(1). Ho, Herbert H. The Development of Direct Selling Regulation in China, 1994-2004. Washington, DC: The US-China Business Council, 2004. â€Å"Household Care in China (October 2005).† Euromonitor. Jun, Lin, and Rebecca Karnak. â€Å"At Last, Progress on Direct Selling.† China Business Review, Nov/Dec2005. MacLeod, Calum. â€Å"China’s New Rules Open Door to Amway, Avon, Others.† USA TODAY, November 30, 2005. â€Å"OTC Healthcare in China (December 2005).† Euromonitor. Ostroff, Jim (1998), â€Å"Amway Slated to Resume Its Operations in China.,† WWD, 175 (144), 28(1).