The Effects of Globalization on the Future of Turkish Economy

Introduction Globalization has had a lot of impact on the world in various aspects, which include exchange of cultures, development of language, faster spread of information and international financial and economic growth. This paper will analyze the economic and business effect of globalization on Turkey as well its position in the global economy.Advertising We will write a custom term paper sample on The Effects of Globalization on the Future of Turkish Economy specifically for you for only $16.05 $11/page Learn More The economy of the Republic of Turkey is primarily driven by the services and industrial sectors but still the agricultural sector plays an important role, and it accounts for 30 percent of the state’s employment. Privatization undertaken by the government has led to the minimization of government’s participation in basic sectors like industry, financial and transport and communication. There are several emerging industries l ike automotive, construction and electronics, which contribute significantly to the economy. The government has been implementing different monetary and fiscal policies after the financial crisis of 2001. From the turn of the 21st century, Turkey has consistently enjoyed a period of uninterrupted economic growth; varied reforms have been under implementation as part of the requirements of joining European Union. Turkey’s economy has benefited from its geostrategic location of being at a point between Middle East and Europe; this makes Turley a strategic location for transit of petroleum and gas. Turkey demonstrated that it can weather any economic storm when it overcame its domestic fiscal meltdown in 2001. Following the economic turmoil in 2001, Turkey implemented several stability and structural reforms, which eliminated various macroeconomic policies that were deemed unsuitable for economic stability. The economic growth rate of Turkey has been steady from 2001 to 2006, an d it was comparably higher than that of most countries in the EU. Turkey is favorable to foreign investment, and it is considered as a country of opportunity. It is worth mentioning that Turkey’s economy can be a heavy casualty in the event of global financial crisis; the economy of the country can be affected by three main factors namely: collapse in the external demand of its commodities, distress in international capital markets and uncertainties in the global economy (Alp and Elekdag 3).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Preliminary Hypothesis The preliminary hypothesis is that globalization has had its share on the unstable condition of the Turkish economy thus leading to a possibility of future crisis on the same. This hypothesis will lead to conduction of a study case on the Turkish economy in a bid to justify it. Sources of Information In order to gathe r as much information as possible on the topic, the sources of information need to be diversified. In addition to the study books, other books such as The Global Crisis and the Turkish Economy by Ercan Uygur will be used. Journals and other periodicals on topics related to the topic of study will also be used for reference. Lastly, electronic sources, including web pages and electronic magazines will be used to acquire information on the topic. Overview of Essay on Turkey’s Economy For a long time, the economy of Turkey experienced a high and stable growth until in 2008 and 2009 when it suffered a severe blow as a result of the global financial crisis (The Economist 1). This affected the key indicators of the Turkish economy, including inflation rates and employment opportunities just to mention a few (Uygur 12). This paper will therefore look at how the effects that came about and globalization will affect the economy of Turkey. An analysis of the expected changes in the Tur kish economy within the next five years will also be made. In order to make an assessment of how the Turkish economy has responded to the global crisis and effects, this paper will explore the changes that have taken place in the monetary and fiscal policies (Alp and Elekdag 17). This will then be used as a measuring tool to forecast the position of the Turkish economy within the next five years. In conclusion, the measures and strategies to be put in place in order to stabilize the Turkish economy will be recommended (Hill 19).Advertising We will write a custom term paper sample on The Effects of Globalization on the Future of Turkish Economy specifically for you for only $16.05 $11/page Learn More Current Economic Situation in Turkey The economy of Turkey has been on the decline for the last three years from 4.3 percent in 2007 to 3.0 percent in 2009. Employment has also increased to a high of 9.4 percent. This slow growth rate was necessitated by the decrease in domestic credit and skyrocketing interest rates of domestic saving aimed at curbing inflation. The external financing of Turkey’s massive deficit has been hampered due to the reduction of capital inflows and global financial crisis. Turkey’s macro environment is increasingly becoming complicated for the banks due to weakening growth of the economy and the volatilities in the financial market. The main risk that needs to be addressed in the banking sector is asset quality, which is deteriorating at an alarming rate. The banking sector has witnessed default in loan payment and credit cards. The underestimation of asset quality have also made the loan books of many Turkish banks to remain untested via a full economic cycle hence making them vulnerable and victims of abrupt increases in interest rates. Turkey has been undergoing various economic problems and restructuring. There was the foreign debt crisis that was experienced in 1979, which prompted liberaliz ation of the economy in 1980. In 2008, Turkey was hit hard by the global financial crisis which prompted the government to reduce interest rates and implement various economic stimulus programs, which were aimed at lifting the budget deficits. Capital Inflows Insufficient capital inflows and reduced domestic savings are and will be the key determinants of the prosperity of the Turkey’s economy. The current economic structure highly depends on capital inflows for growth, and this brings up the question of whether or not the capital inflows will continue into the future. This is one of the dilemmas regarding the Turkey’s economy that needs to be addressed (Uygur 5). The major adjustment that is needed to bring to an end the effect of global crisis in Turkey is to eliminate the global imbalance, but still it can be impossible since it is this global imbalance that has been the engine of capital inflows that drive the economy. Turkey has heavily benefited from the capital inflows. Making this adjustment will come at a substantial cost, especially if capital inflows are to be slowed. It would imply that countries like Turkey would have to receive limited or less capital than what it received in the period 2002-2007.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Failure by these adjustments to materialize will lead to the continuation of the global imbalance and hence putting into serious risk currencies like the dollar and sterling pound, and this will in turn precipitate chaos in the global payment system which will have an adverse effect on international trade and capital inflows. This may lower the economic growth rate for the global economy in short and medium term (Uygur 51). Turkey’s Economic Forecasts According to the Medium-Term Program (MTP) forecasts which were published recently and according to the IMF’s World Economic Outlook for the period 2009-2012 forecast which are illustrated by table 1 below, MTP based its assumption on the fact that global economic growth rate and rate of capital inflows are instrumental in predicting the future of Turkey’s economy. The forecast by the two institutions, the IMF and MTP are unanimous on the fact that Turkey’s economy is likely to decline in the period 2009-201 2 when it is juxtaposed with 2002-2007. Table 1 (Uygur 52) From the above forecast, it is evident that the economic growth rate of Turkey will fall below the average growth rate of developing countries as well as below that of the global economy unlike in the period 2002-2007 where the economic growth rate of Turkey was nearly equal to that of developing countries but above that of the global economy. Other optimistic projections in respect to the global economy are increased in investment rate while unemployment will remain at an average of 14 percent (Uygur 53). From the above projections, Turkey will not make an adjustment in the above parameters, but it will likely pursue an unsustainable growth strategy only on the medium term. The strategy will succeed but only for a particular period of time, unless there is no global investment. The inflation ratio in Turkey will depend on the global inflation (Uygur 54). Globalization and Turkey’s Economy It has been proven from the past crises that Turkey’s economy is vulnerable to the whims of international economy and in the event of collapse in the global economy, the Turkish economy becomes affected. This is because a collapse of the global economy will lead to a situation of the contraction in the demand of Turkish exports, which is the major contributor to the country’s economy as well as the collapse of the country’s assets. Turkey’s integration into the world economy and emergence of foreign direct investment as a core component of the Gross Domestic Product is gaining momentum but Turkey has not maximized gains from these two factors, it has not utilized foreign direct investment over the inflows of capital. These are among the changes that need to be effected in order to steer Turkey’s economy forward. Just like other emerging markets, Turkey faces problems like defining its exchange rate regime, the problem of eliminating inflationary milieu and minimizing of poli tical uncertainties. These are the obstacles that Turkey needs to address in order to attract direct foreign investment as well as to integrate itself into the global economy (Aguilar and Gita 74). Globalization enabled Turkey to borrow a lot of money to make it finance trade deficits as well as to fill the financial gap between savings and investment. However, growth strategies that are financed by debts are not sustainable. The liberalization of the financial markets in Turkey has experienced the effects of financial globalization. The country has been frustrated by its policy of liberalization and deregulation of financial markets, which have led to deficits in the public sector and high debt volume. After the weakening of the economy in 2009, Turkey has speedily recovered from it and in 2010, it recorded high economic growth rate as compared with the G20 countries where it belongs. No financial institution failed, and inflation rate was well managed. The main concerns, if the pa ce of economic growth rate is to be maintained are inflation and deficit in the current account. There are also the expectations that there will be a lot of pressure on the government to tighten the fiscal policies and the central bank will as well be under pressure to increase the interest rates. To curtail the ever increasing capital inflows, the central bank must be in a position to lower the interest rate and simultaneously increase the reserve threshold for both foreign and local banks. This policy did not materialize, and the banking sector has been forced to reverse its decision and increase the interest rates. Capital inflows have become a menace in the Turkish economy, and this threatens the monetary strength; the continued increase in capital inflows has made the monetary conditions of the country to be weak and loose. Raising the reserve requirement has demonstrated no tendency of slowing down consumer lending. It is predicted that if the developed economies, particularly the United States of America increase their interest rates, Turkish external finance will diminish. The current account market also needs to be addressed. Though the country has solid public finances, there are notoriety and abnormality in its current account crisis, which is a sign of economic flaws. Among the austerity measures that needs to be implemented for future economic prosperity include making amendments to the high minimum wages and trimming unregistered sectors of the economy as well as increasing market economy, which can reduce operational and consumer costs (The Economist 1). With the political and economic fragility and uncertainty witnessed in the Arab region following the current series of uprisings, it is imperative that Turkey revives and repairs its trade relations with the European Union, which is the primary market for its exports. Turkey suffered some losses following revolutions in the Arab spring, for example, it had several of its construction contracts c anceled in Libya, and its deals with Syria have been stopped or left unconcluded (The Economist 1). Structural Reforms to be implemented to Strengthen Future Economy Turkey has realized a microeconomic stability due to the implementation of the reform program. For the future of Turkish economy and to foster its potential economic growth, the government needs to implement various structural reforms to make the economy flexible and allow individual firms to react immediately to the incentives. Among the important changes that need to be made are: Inflation Inflation has been a chronic problem in Turkey’s economy just like in any other global economy. Inflation had minimized the country’s economic growth rate. A fall in the rates of inflation leads to uncertainties in all sectors of the economy as well as undermining the macroeconomic stability of a country. The government, therefore, needs to develop effective counter-inflation policies. Low rates of inflation led to an accelerated global economy in the 1990s, and lower inflation rates resulted in the financial turmoil witnessed in Turkey in 2001-2002. Lower inflation leads to flexibility in the exchange rates and realistic interest rate. In the recent time, Turkey has witnessed a decrease in inflation that is associated largely to fiscal consolidation achieved in the country. The government needs to keep inflation in check to enhance the credibility of its monetary policy. Consequently, government’s commitment to curb any rise in inflation will enhance the credibility of its policy-making and fiscal policies, in particular (IMF 1). Minimizing inflation will help in moderating the consumer prices and especially in the provision of services. Fiscal Policies Failure by the government to stem from fiscal imbalance has led to the inflation problem. It is therefore, necessary for the government to effectively manage its fiscal situation in order to end any future economic crisis, minimize inflati on and restore macroeconomic stability. The government, furthermore, needs to meet and maintain its surplus target to reduce debt burden of the country. The current country’s high public debt is considered to be a result of short-term interest rates and foreign currencies. The reduction of the country’s debt ratio will enhance its debt profile hence reducing vulnerability to ever dynamic global interest and exchange rate volatility (IMF 1). It is imperative for the government to have a strong fiscal policy that will enable it to strengthen its economic growth while minimizing the distorting aspects of a country’s tax system. Structural Reforms It is evident that the economic growth rate of the country is growing at a steady and sustainable rate. The government’s duty is to further increase the economic growth rate without triggering any inflationary pressure. This will enhance individual incomes, which will result in the reduction of poverty. The governme nt needs to implement various structural reforms that can make the economy stable, flexible and market force oriented. Though the government has been traditionally implementing these structural reforms, for example, free market and reforms in the banking sector, in financial sectors and in regulation of business, still the tightening of these reforms and introducing others will make the economy effective. Among the reforms that need to be implemented are in the business and investment environment to make the country favorable to foreign investment, privatization of government assets to enhance competition and reduce the burden state sector and other banking reforms (IMF 1). The labor market needs to be reformed. This will assist in reducing obstacles to formal employment, and this will enable firms to move from informal to the formal sectors of the economy. Positive forecasts have continued to raise the profile of Turkey. There is a projection by analysts of a growth of five percent for the coming three years, which has enabled Turkey to attract a lot of investors. The country was rated as BB+ in 2010 by the Moody’s, an international rating agency due to the faster recovery of its economy, increased market confidence and enhanced market finance. There is growing investor nervousness caused by the poor performance of the Istanbul stock exchange. This has prompted the majority of the investors to move their investments to countries like Germany and Poland where the economic growth is healthy. There is a need, therefore, to revamp the country’s stock exchange to attract investors. To deter short-term investments flaws in investment, the central bank has extremely reduced its lending rates and consumption by rising reserve demands and reducing interest rates. This policy has proven controversial and more so it has never addressed its intended purpose (Champion and Parkinson 1). The resilience of Turkey’s financial markets was overshadowed by d ecreased global demand and reduced international capital flows, which adversely affected the economy of the country. The OECD has predicted Turkish economy to be one of the fastest growing with a projected estimate of 6.7 percent between 2010 and 2017. This is illustrated by the graph below. (Invest in Turkey 1) Conclusion A country can only benefit from the globalization of economy if its macroeconomic policies are strong and there exists liberalized market and sound monetary system, in particular. Globalization has made the management of economies easier as well as difficult and hence countries should exercise caution when designing and implementing economic policies. Turkey has enjoyed a period of considerable success in creating a liberalized economy, consequently, making its economy open for international competition. To realize stable economic growth and sustainability, Turkey has devised export oriented economic strategy based on the real and reasonable exchange rate (Alp an d Elekdag 4). Just like in other countries, structural reforms in Turkey will speed up the country’s economic growth. Turkey is among the few countries that suffered heavily from the global financial crisis but managed to come out of it without much damage at a time when other countries were seriously affected. The long-term economic prospects of Turkey is slowly increasing but still there is a lot of demand for reforms in the labor market, raise in education spending, transparency in handling and spending public finances and credibility in monetary policy. These are necessary for the country to maintain a steady economy. The economic growth rate of Turkey is primarily driven by financial, retail and construction sectors and its banking sector is stable but it is only the consumption of the country that is low. Works Cited Aguilar, Mark and Gita, Gopinath. â€Å"Emerging Market Business Cycles: The Cycle is the. Trend,II† Journal of Political Economy 115.1 (2007): 69â €“102. Print. Alp, Harun and Elekdag, Selim. â€Å"The Role of Monetary Policy in Turkey during the Global Financial Crisis.† International Monetary Fund, 2011. Web. Champion, Marc and Parkinson, Joe. â€Å"Turkey’s Economy Surged 11% in Quarter.† The Wall Street Journal, 2011. Web. Hill, Charles. (2007). International Business: Competing in the Global Marketplace. New York: McGraw-Hill/Irwin. Print. IMF. â€Å"Turkey’s Economy: A Future Full of Promise.† International Monetary Fund, 2005. Web. Invest in Turkey. â€Å"Economic Outlook.† Invest, 2011. Web. The Economist. â€Å"The Turkish Economy Overheating.† The Economist, 2011. Web. Uygur, Ercan. â€Å"The global crisis and the Turkish economy.† Third World Network, 2010. Web. This term paper on The Effects of Globalization on the Future of Turkish Economy was written and submitted by user Ahmad Mann to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Joy Luck Club Essays - Chinatown, San Francisco, The Joy Luck Club

Joy Luck Club Essays - Chinatown, San Francisco, The Joy Luck Club Joy Luck Club In the novel, The Joy Luck Club, by Amy Tan, it tells of four Chinese women drawn together in San Francisco to play mah jong, and tell stories of the past. These four women and their families all lived in Chinatown and belong to the First Chinese Baptist Church. They were not necessarily religious, but found they could improve their home China. This is how the woo's, the Hsu's, the Jong's and the St Clair's met in 1949. The first member of the Joy Luck Club to die was Suyuan Woo. Her daughter, Jing-mei June Woo, is asked to sit in and take her mother's place at playing mah jong. Memories of the past are shared by the three women left, An-mei Hsu, Lindo Jong and Ying-ying St Clair. June Woo learns of the real secret her mother carried to her grave from her mother's friends. The twin baby girls, her half sisters, Suyuan pushed in a Wheelbarrow as she escaped from the Japanese. Due to sickness, Suyuan can no longer carry her babies, and is forced to leave them on the side of the road. She lives her whole life not knowing if they are alive or dead. In the book, the Woo's left for America to build a better life for themselves. Suyuan Woo wanted to have a daughter like herself, and no one would look down on her. It was important that she speak perfect English and hopefully not share in the same tragedies and sorrows she had known. The movie brought this concept out very vividly. You were able to imagine the time and place and the emotions of the characters. Their anger in the early years, how women and children were treated as possessions. The book spoke of Rose Hsu Jordan, daughter of An-mei Hsu, who had seven brothers and sisters. A very tragic time in her life when her brother Bing drowns at age 1 while she was in charge of watching him. The movie does not touch upon this tragic event and brings out the rich family Rose marries into, and the instant rejection from her boyfriends mother. Rose unhappiness in her marriage with Tod, is similar to the unhappiness her mother had throughout her life. Lindo Jong was a special character in the book , referring to promises she made to her mother as a young girl, and keeping them throughout her life. She was actually abandoned by her family and Lindo was sent to live with her future husband's family. She never complained because she would never dishonor her mother. The movie did an excellent job of showing us the culture during that time in China and how the matchmaker arranged the marriages at an early age. She is a very smart girl and figures out how she could get out of this marriage and still keep her promise to her mother. She puts the blame on the matchmaker and is released from the marriage. When speaking of strong characters in the book, one would have to include Waverl y Jong, daughter of Lindo Jong. She was a bright child who became a famous chess player, which made her mother very proud. The movie brought out her unhappiness in her life and the unhappy relationship with her mother. The two shared similar lives even though they lived in different countries and different times. Ying-ying St Clair, according to the book, was married at an early age and referred to her husband as a bad man. In fact she tried so hard to forget him she forgets his name. She tells of taking her baby before it was born because of the hate she has for her husband. The movie tells the story a little different in reference to her baby. After her husband comes home with his mistress and causes her shame, she drowns her tiny infant while bathing him. A tragic and emotional part in the movie. Lena St Clair, daughter of Lindo St Clair, may not have had such a tragic relationship with her husband as did her mother; but she was unable to find happiness in her marriage. The book and movie were similar in showing us the relationship she had with Harold.

PhD Thesis Writing

PhD Thesis Writing PhD Thesis Writing PhD Thesis Writing: The Way to Ease Your Job Some students set the precise objects during the education course in the university. The majority of students prefer to graduate successfully and obtain the solid and well-paid job position in the future. It is absolutely normal, but the role of universities could be underestimated. For instance, to prepare the perspective and competent researcher the students have to write the appropriate PhD thesis. For the university it would be a good chance to check the skills of student, his/her predisposition to qualitative and objective research, and his/her ability to conduct the solid research work independently. PhD thesis is a serious, probably, decisive work for the student who intend to build the career of successful researcher. PhD Thesis: Preparation and Key Factors. PhD thesis is a type of work that requires a competence and deep understanding of the subject. The good and thorough preparation will put basis for possible success. Firs t of all, as a researcher, you have to select to area of research try to choose the most appropriate sphere, where you could unlock your analyzing potential. Do not underestimate the option of good adviser the responsible adviser can give some tips and necessary recommendation. Think about possible sources of information beforehand. Make a PhD thesis outline and define the PhD thesis proposals. It will be your detailed plan of actions. When the stage of preparation is over, we get into the next level. PhD Thesis: Tips For the Working Process Here we can mark out the following points:During your work under PhD thesis use general knowledge and the questions you are going to answer. Carefully think about the answers, remember about the regular technical progress in our life, back your words with a facts and real arguments. Do not forget about the thesis proposals and follow only by the points of your plan; point the importance of your researchs purpose; Use the approved informational sources, scientific conferences, highly-rated scientific books; When you are writing, do not forget to defense your information. Sometimes, it is useful to include the general comments of some scientific authorities; Show the reader that you approve and exploit your knowledge in practice; Do not go too far in your description speak laconically and logically. Do not be afraid to show your wide thinking, but stay away from the areas that have indirect sense in relation to your topic. Of course, you must seriously look at this task: prove you are diligent and responsible person, be argumentative and follow the instructions. Good luck, folks!

MHE599 - Culminating Project Module 5 - Case Essay

MHE599 - Culminating Project Module 5 - Case - Essay Example however in other cases their response to the disaster will be inadequate without proper steps and this will to lead to views that Federal government bodies could have done a better job. This scenario of inadequate response was visible during the disaster of Hurricane Katrina in the geographical region of Louisiana. U.S. Constitution’s 10th Amendment states that, â€Å"The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.† (gpoaccess.gov). That is, through this amendment, the constitution entrusts the responsibility of public health and safety of the people in a particular state to the respective states itself. This means the emergency management of disasters and other tragedies as well as law enforcement is also the responsibility of the state government and local bodies. Critics of this amendment and ones who are against further autonomy for the local governments state that giving the responsibility of public health and safety particularly during emergencies would be too much for the local bodies. The 10th Amendment provides significant responsibility on the states; however Hurricane Katrina because of certain shortfalls has proved that the amendment wrongly places too much responsibility on the states. Although, in course of our history, several state and local governments have done an adequate and commendable job in aiding the public in times of natural disasters like earthquakes, hurricanes, Tsunami, etc, it is not the case all the time. Hurricane Katrina is one such case of inadequate response because the first responders, Louisianan government and New Orleans City council themselves became the victims of the catastrophe, as their local infrastructure was maximally wiped out. Along with this shortfall, the local bodies performed inadequately raising questions regarding the 10th Amendment and how the Federal bodies if involved maximally could have

Report and Letter Concerning Law Case Study Example | Topics and Well Written Essays - 2500 words

Report and Letter Concerning Law - Case Study Example First of all, Mr. Ford is liable for having been negligent to Ms. Smith.   In the case of negligence, one must establish a duty of care.   To define negligence is to realize that it is the following.   It is:   â€Å"[c]onduct that falls below the standards of behavior established by law for the protection of others against the unreasonable risk of harm.   A person has acted negligently if he or she has departed from the conduct expected of a reasonably prudent person acting under similar circumstances.†      Obviously, Mr. Ford’s conduct was well below standards established by law to protect others against risk of harm according to the rules of the road.   Mr. Ford put Ms. Smith at unreasonable risk of harm.   Mr. Ford, subsequentially, by diverting his vehicle from the proper direction on the road in front of him, did not act as a reasonably prudent person in making the choice to pass the cars that were ahead of him—solely for the purpose of o vertaking the cars in front of him.To maintain negligence was a â€Å"cause of action,† there are four criteria which must be met:1. â€Å" [T]he defendant had a duty [or a promise to exercisecare] to the plaintiff..[;] [2.]   [T]he defendant breached that duty by failing to conform to the required standard of conduct..[;] [3.]   [T]he defendant’s negligent conduct was the cause of   harm to the plaintiff..[;] and [4.]   [T]he plaintiff was, in fact, harmed or damaged.†Ã‚  ... 1. " [T]he defendant had a duty [or a promise to exercise care] to the plaintiff..[;] [2.] [T]he defendant breached that duty by failing to conform to the required standard of conduct..[;] [3.] [T]he defendant's negligent conduct was the cause of harm to the plaintiff..[;] and [4.] [T]he plaintiff was, in fact, harmed or damaged."3 As it concerns Mr. Ford, he first had an obligation to Ms. Smith that that he had the duty to her to be a responsible driver. He then breached such obligation to be a responsible driver by going into her lane just because he wanted to overtake the line of cars ahead of him. Mr. Ford's third cause of action, that his conduct was harmful to Ms. Smith-as Ms. Smith consequentially broke her left fibula and was left with three cracked ribs-is an obvious factor, seeing as how the facts of the case prove this. Lastly, it is apparent that Ms. Smith was harmed in the accident. All of these aspects help prove further that Mr. Ford was negligent towards Ms. Smith. From having suffered this negligence, Ms. Smith has some recourse in presenting her case as a personal injury case in court. Ms. Smith could sue for pain and suffering incurred, which would include the "mental and emotional trauma which are recoverable as elements of damage in torts."4 Mr. Ford would not be able to receive any monetary awards due to damages on his car. He would have no case, as he would be the defendant. Further, the fact that Ms. Smith was convicted of not having vehicle insurance two days prior to the accident does not have a bearing on her receiving benefits from this torts case. However, Mr. Ford is liable to Ms. Smith for having been the cause of Ms. Smith's health problems and subsequent future

Analyse the Pay Tv Market in Sa Using the Five Forces Framework Essay Example for Free

Analyse the Pay Tv Market in Sa Using the Five Forces Framework Essay The threat of new entrants in the South African Pay TV market is low for reasons discussed below: Capital Requirements: The case study clearly states that Top TV spent in the region of R1 billion to become operational which shows that the capital needed to do business in this industry is steep. The case also highlight other licensees such as WOWtv and Telkom Media (later sold to become Super 5 Media) struggling to launch and pay debts respectively. Further proving that the capital needed to operate in this environment is very huge requiring investors with a strong financial muscle. Product Differentiation: There is brand identification and loyalty to DStv for the simple reason that it has been the only player (monopoly) in this industry for more than 15 years and has built huge fences around it to couple brand loyalty by entering into long exclusive deals with some of the biggest channels and studios in the US. Cost Disadvantages: DStv has benefitted from the learning and experience curve and being that it has been the only player in the market for a long time it has exploited this by entering into long exclusive deals, putting proper technology infrastructure to avoid technical glitches that for instance Top TV experienced. These cost advantages positions DStv well ahead of new entrants or discourages new entrants. The threat of new entrants is also low because of the fighting muscle DStv has in fighting off new entrants as it demonstrated to Top TV, by coming up with a new range of packages that also targeted the lower LSM groups which Top TV had targeted. This repositioning of DStv had huge repel effects on Top TV to a point that Top TV is fighting to stay in business. Last but not least DStv has gained economies of scale in research, marketing and financing over the years they have been operating as a monopoly.

Henri Cartier-Bresson :: History

Henri Cartier-Bresson Henri Cartier-Bresson has been called "equivocal, ambivalent and accidental"1 since his debut as a photojournalist. Amplified and enriched, the work of the photographer is revealed in all its grandeur. While he may appear to "be a hurried man or a traveler without luggage"2, to quote a few of his titles, he is a poet, attentive to the act of love made with each photograph, and this is where the genius is revealed. From a desired distance, we discover simultaneously the geographer, who analyses the permanence or vulnerability of cultures; the ethnographer, who captures gestures of work and rituals of religion; the anthropologist, who reflects the spectrum of emotions; and the sociologist, who reveals the development of destinies and histories.3 Cartier-Bresson's dependence and uncompromising view of photography; to rely solely on the moment in time, is why he will always be remembered. Born in 1908, Cartier-Bresson studied painting with Andre Lhote in Paris, then painting and literature at Cambridge University in 1928 and developed a serious interest in photography in 1931. His work was first exhibited at the Julien Levy Gallery, New York, and first published in Vu magazine in 1932. He has been involved in numerous films, such as La Vie est a nous (1936), Le Regle du jeu (1939), his documentary film on the hospitals of Republican Spain in 1937 and his film on the liberation of the concentration camps with Richard Banks called Le Retour (1945). His work has been exhibited at the Museum of Modern Art, New York in 1946, and in 1947 he became co-founder of The Magnum photographic agency. He has published over a dozen books and has had his photographs printed in hundreds of magazines. Cartier-Bresson traveled the world so that he may document and present to others the human condition. His photographs transcend any particular time or place. Instead, they capture the very essence of life, be it Harlem, Madrid, Shanghai or the Paris rue Mouffetard (Ill. 2)4. In rural Europe, silent in the absence of the engine, and where everything was still done by animals and human beings, he portrays, unaltered, a society's captivating traits. At times his poetic intention towards subject matter is inadvertently socially charged, which makes his work all the more intriguing5. Each of Cartier-Bresson's photographs presents itself not as part of a series, an archive selected among others, but as a singular work of art which, with its own formal qualities and unique meanings, exists in itself. Henri Cartier-Bresson :: History Henri Cartier-Bresson Henri Cartier-Bresson has been called "equivocal, ambivalent and accidental"1 since his debut as a photojournalist. Amplified and enriched, the work of the photographer is revealed in all its grandeur. While he may appear to "be a hurried man or a traveler without luggage"2, to quote a few of his titles, he is a poet, attentive to the act of love made with each photograph, and this is where the genius is revealed. From a desired distance, we discover simultaneously the geographer, who analyses the permanence or vulnerability of cultures; the ethnographer, who captures gestures of work and rituals of religion; the anthropologist, who reflects the spectrum of emotions; and the sociologist, who reveals the development of destinies and histories.3 Cartier-Bresson's dependence and uncompromising view of photography; to rely solely on the moment in time, is why he will always be remembered. Born in 1908, Cartier-Bresson studied painting with Andre Lhote in Paris, then painting and literature at Cambridge University in 1928 and developed a serious interest in photography in 1931. His work was first exhibited at the Julien Levy Gallery, New York, and first published in Vu magazine in 1932. He has been involved in numerous films, such as La Vie est a nous (1936), Le Regle du jeu (1939), his documentary film on the hospitals of Republican Spain in 1937 and his film on the liberation of the concentration camps with Richard Banks called Le Retour (1945). His work has been exhibited at the Museum of Modern Art, New York in 1946, and in 1947 he became co-founder of The Magnum photographic agency. He has published over a dozen books and has had his photographs printed in hundreds of magazines. Cartier-Bresson traveled the world so that he may document and present to others the human condition. His photographs transcend any particular time or place. Instead, they capture the very essence of life, be it Harlem, Madrid, Shanghai or the Paris rue Mouffetard (Ill. 2)4. In rural Europe, silent in the absence of the engine, and where everything was still done by animals and human beings, he portrays, unaltered, a society's captivating traits. At times his poetic intention towards subject matter is inadvertently socially charged, which makes his work all the more intriguing5. Each of Cartier-Bresson's photographs presents itself not as part of a series, an archive selected among others, but as a singular work of art which, with its own formal qualities and unique meanings, exists in itself.