Differences Between Economic Growth And Development

Differences Between Economic Growth And Development Introduction From a traditional economic perspective, development may be viewed as economic growth related to the rise in GDP, per capita income and infrastructural adjustments in the economy relative to population changes. However, in a simpler and more refined view, development may be taken to mean the improvement in quality of life of the population through poverty eradication, reduction of inequality, reduction of unemployment and demographic control measures. The traditional view on development focused more on the trickle down effect of wealth to the masses in to influence the real per capita GNP which was assumed to grow at a higher rate than the growth in population. Primarily, the trickle down effect involved creation of employment opportunities and enhancement of distribution of economic and social benefits through planned structures of production and employment. The current view on economic development has been focusing more on poverty eradication through establishment and achievement of development goals that may include reduction in disease, illiteracy, unemployment and social/economic inequality. Moreover, many institutions actively involved in enhancing global economic development, including the World Bank, United Nations, World Food Program, world Health organization and International Monetary Fund among others have come up with development goals whose core values may include ensuring everybody is able to sustain basic needs, enhancing societyà ¢Ã¢â€š ¬Ã¢â€ž ¢s self esteem and enhancing freedom from servitude. Despite these efforts, the gap between the developed and the developing countries and the issue of inequality in distribution of wealth are still evident. Moreover, a lot is expected to be achieved through the millennium development goals of 2015 which encompass eradication of poverty, enhancing universal education, enhancing gender equality, enhancing child and maternal health, combating HIV/Aids, ensuring total environmental sustainability and enhancing global partnership. However, these efforts are being hampered by the financial crisis, food crisis, political crisis and climate change, all of which have tended to be the mainstay in the contemporary world. This paper will discuss the subject of economic development and its impact to the contemporary society. Historical view of development The classical economic theorists clam that economic development involved the growth in total output relative to the growth in population and changes in per capita income on real GNP of an economy. Although they focused on elimination of poverty as the main goal of economic development, they based such an agenda on the wealth creation and distribution through division of labor and capital concentration in competitive capitalist environment (Cypher and Dietz, 2004, pp. 109-110). Although the difference in economic development between the poor and the rich nations may be attributed to the earlier years of slavery and colonialism, the asymmetrical growth in population as compared to food production may be one undoing factor in decelerating economic development. According to Cypher and Dietz (2009, p. 114), Malthus, a classical economists, posited that population did tend to increase at a geometric progression while food production/output increased at an arithmetic progression which indicated that there was overuse in the fertile land under cultivation and the subsequent surge in population would more than worsen the disreputability of the limited food reserves. In their view, economic development would be achieved through distribution of economic wealth to the people with an aim of enhancing the social well-being since the society was divided into haves and have-nots (Willis, 2005, p. 63). Modern Economic development view Generally, economic development is taken to mean the measure of the level of social-economic welfare of the people in a national economy. The current focus on economic development has been the sustainability of the social welfare through poverty eradication, eliminating unemployment and eliminating inequality. In a more broader sense, there may be a buffer between economic growth and economic development in that, while economic growth will measure the rate at which the GNP and per capita income are changing, the latter may be realized with or without economic growth and it involves social and structural changes such as demographics, environmental sustainability, political relations, literacy levels, social diversity and health. According to Hoff and Stigliz (2001, p. 391), the government ands markets as the determinants of economic development coupled with institutions, wealth distribution and historical ideologies, all of which have affected the developmental patterns in the world economies especially in the developing nations. While the institutions influence the direction of transaction costs in the economy, wealth distribution impacts on the economic efficiency and thus creating influence on the developmental adjustments in the economy. Mookherjee and Ray (2001, p. 118) view that wealth distribution affects saving, investment, and production structures thus influencing occupational choices and institutional adjustments that tend to explain the difference between the developed and developing economies. Measuring economic development As a measure of socio-economic welfare, economic development aims at achieving various objectives which include availing and distributing human basic commodities, improving the standards of living through provision of social amenities and job creation, and aligning the social and economic choices available to the society. In the contemporary economic environment, the gap between the poor and developed nations has remained to widen, despite the developing nations having a higher economic growth rate in the recent years. However, the globalization of trade has enhanced economic development especially through reorganization and reorientation of economic and social systems as well as improvement in household incomes and economic output (Todaro, 2009, p. 68). The attainment of millennium development goals according to United Nations (2009) provides a clear measure of economic development in the world economies. Despite the deadline being 2015, there has been developmental progress especially in areas related to literacy, gender equality, primary health care, global partnership and environmental sustainability. However, the HIV/Aids remains to be one of the stubbing blocks on development especially in Africa where poverty is much higher than in other parts of the world. Barriers to economic development The economic crisis (as experienced recently), the food crisis, adverse climatic changes and political warfare (civil strife and external sanctions) have remained to be the hindrances to the attainment of the economic development (World Bank, 2009). For instance, the globalization effect has led to environmental degradation and pollution resulting to interference with climatic changes that have created threat to food production (Meier and Stiglitz, 2001, 170). In addition, recently witnessed financial meltdown may slow down the realization of developmental goals due to its effect on investment patterns and interference with wealth distribution. Conclusion Economic development may be differentiated from economic growth due to the difference in measures and effects to the society. For a nation to experience economic development there must be structural adjustments that focus on the attainment of human wellbeing. Sound economic policies should be available to ensure that all the fundamentals that influence economic development are addressed fully and comprehensively.

Use of Literary Techniques in Miltons Sonnet Essay -- Milton Sonnet

Use of Literary Techniques in Milton's Sonnet At the prime of his life, Milton was struck with blindness. As a result of this tragedy, Milton created a sonnet about his blindness. He questioned the meaning of this tragedy, of the future, and God for his blindness within the sonnet. Within Milton's sonnet about his blindness: figurative language, personification, his intent and prosody are adopted to   convey his questions and heart felt acceptance of his blindness.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Milton uses figurative language to express his grievances and discontent. He reflects upon his life and "how my light is spent," or the time he had his sight. Milton then expresses the feeling of the "dark world and wide" of the blind as his introduction to his questions. He begins to question his writing that only death can take away ("...one talent which is death to hide.."),   "lodged... useless" within him because of his new blindness. As a result, Milton begins to question God, "Doth God exact day-labour, light denied?" Milton wonders as to the meaning of his blindness; Does God want him to continue to write, even with his blindness, or what does God really mean? At first his tone seems harsh, but his feelings are redirected as he answers his own questions in time. His last question to God, was answered by himself as he realizes that he cannot blame God for his actions. His figurative language from the point he begins to question, up to where he begins to answer his own questions are full of implications of his thought. These implications must be picked out in order to make sense of the feeling and statement Milton is trying to make. ... ... He has accepted the fact that he is blind and has answered his own thoughts on God. Milton believes that he must make a choice to go on with his writing or "stand and wait," as he must bear the burden and continue or stop.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In conclusion, Milton uses many literary techniques to express himself as he confronts his feelings with blindness within this sonnet. The uses of figurative language to introduce the dilemma and to personification for change to the solution of his problems are effectively used to contrast the mood. His prosody and intention with words creates an imaginative thought process and detail towards the sonnet. Overall, his techniques combine to convey the theme of acceptance and realization. Milton has inferred that whether or not he continues to write depends on himself and serving God.

Chillers

A chiller is a machine that removes heat from a liquid via a vapor-compression or absorption refrigeration cycle. A vapor-compression water chiller comprises the 4 major components of the vapor-compression refrigeration cycle (compressor, evaporator, condenser, and some form of metering device). These machines can implement a variety of refrigerants. Adsorption chillers use municipal water as the refrigerant and benign silica gel as the desiccant. Absorption chillers utilize water as the refrigerant and rely on the strong affinity between the water and a lithium bromide solution to achieve a refrigeration effect. Most often, pure water is chilled, but this water may also contain a percentage of glycol and/or corrosion inhibitors; other fluids such as thin oils can be chilled as well. Contents [hide] 1 Use in air conditioning 2 Use in industry 3 Vapor-Compression Chiller Technology 4 How Adsorption Technology Works 5 How Absorption Technology Works 5. 1 Industrial chiller technology Industrial chiller selection 7 Refrigerants 8 See also 9 References 10 External links [edit] Use in air conditioning In air conditioning systems, chilled water is typically distributed to heat exchangers, or coils, in air handling units, or other type of terminal devices which cool the air in its respective space(s), and then the chilled water is re-circulated back to the chiller to be cooled again. These cooling coils transfer sensible heat and lat ent heat from the air to the chilled water, thus cooling and usually dehumidifying the air stream. A typical chiller for air conditioning applications is rated between 15 to 1500 tons (180,000 to 18,000,000 BTU/h or 53 to 5,300 kW) in cooling capacity. Chilled water temperatures can range from 35 to 45 degrees Fahrenheit or 1. 5 to 7 degrees Celsius, depending upon application requirements. [1] [2] [edit] Use in industry In industrial application, chilled water or other liquid from the chiller is pumped through process or laboratory equipment. Industrial chillers are used for controlled cooling of products, mechanisms and factory machinery in a wide range of industries. They are often used in the plastic industry in injection and blow molding, metal working cutting oils, welding equipment, die-casting and machine tooling, chemical processing, pharmaceutical formulation, food and beverage processing, paper and cement processing, vacuum systems, X-ray diffraction, power supplies and power generation stations, analytical equipment, semiconductors, compressed air and gas cooling. They are also used to cool high-heat specialized items such as MRI machines and lasers, and in hospitals, hotels and campuses. The chillers for industrial applications can be centralized, where each chiller serves multiple cooling needs, or decentralized where each application or machine has its own chiller. Each approach has its advantages. It is also possible to have a combination of both central and decentral chillers, especially if the cooling requirements are the same for some applications or points of use, but not all. Decentral chillers are usually small in size (cooling capacity), usually from 0. 2 tons to 10 tons. Central chillers generally have capacities ranging from ten tons to hundreds or thousands of tons. Chilled water is used to cool and dehumidify air in mid- to large-size commercial, industrial, and institutional (CII) facilities. Water chillers can be either water cooled, air-cooled, or evaporatively cooled. Water-cooled chillers incorporate the use of cooling towers which improve the chillers' thermodynamic effectiveness as compared to air-cooled chillers. This is due to heat rejection at or near the air's wet-bulb temperature rather than the higher, sometimes much higher, dry-bulb temperature. Evaporatively cooled chillers offer efficiencies better than air cooled, but lower than water cooled. Water cooled chillers are typically intended for indoor installation and operation, and are cooled by a separate condenser water loop and connected to outdoor cooling towers to expel heat to the atmosphere. Air Cooled and Evaporatively Cooled chillers are intended for outdoor installation and operation. Air cooled machines are directly cooled by ambient air being mechanically circulated directly through the machine's condenser coil to expel heat to the atmosphere. Evaporatively cooled machines are similar, except they implement a mist of water over the condenser coil to aid in condenser cooling, making the machine more efficient than a traditional air cooled machine. No remote cooling tower is typically required with either of these types of packaged air cooled or evaporatively cooled chillers. Where available, cold water readily available in nearby water bodies might be used directly for cooling, or to replace or supplement cooling towers. The Deep Lake Water Cooling System in Toronto, Canada, is an example. It dispensed with the need for cooling towers, with a significant cut in carbon emissions and energy consumption. It uses cold lake water to cool the chillers, which in turn are used to cool city buildings via a district cooling system. The return water is used to warm the city's drinking water supply which is desirable in this cold climate. Whenever a chiller's heat rejection can be used for a productive purpose, in addition to the cooling function, very high thermal effectivenesses are possible. [edit] Vapor-Compression Chiller Technology There are basically four different types of compressors used in vapor compression chillers: Reciprocating compression, scroll compression, screw-driven compression, and centrifugal compression are all mechanical machines that can be powered by electric motors, steam, or gas turbines. They produce their cooling effect via the â€Å"reverse-Rankine† cycle, also known as ‘vapor-compression'. With evaporative cooling heat rejection, their coefficients-of-performance (COPs) are very high and typically 4. 0 or more. In recent years, application of Variable Speed Drive (VSD) technology has increased efficiencies of vapor compression chillers. The first VSD was applied to centrifugal compressor chillers in the late 1970s and has become the norm as the cost of energy has increased. Now, VSDs are being applied to rotary screw and scroll technology compressors. [edit] How Adsorption Technology Works Adsorption chillers are driven by hot water. This hot water may come from any number of industrial sources including waste heat from industrial processes, prime heat from solar thermal installations or from the exhaust or water jacket heat of a piston engine or turbine. The principle of adsorption is based on the interaction of gases and solids. With adsorption chilling, the molecular interaction between the solid and the gas allow the gas to be adsorbed into the solid. The adsorption chamber of the chiller is filled with solid material, silica gel, eliminating the need for moving parts and eliminating the noise associated with those moving parts. The silica gel creates an extremely low humidity condition that causes the water refrigerant to evaporate at a low temperature. As the water evaporates in the evaporator, it cools the chilled water. The use of a benign silica gel desiccant keeps the maintenance costs and operating costs of adsorption chillers low. edit] How Absorption Technology Works Absorption chillers' thermodynamic cycle are driven by heat source; this heat is usually delivered to the chiller via steam, hot water, or combustion. Compared to electrically powered chillers, they have very low electrical power requirements – very rarely above 15 kW combined consumption for both the solution pump and the refr igerant pump. However, their heat input requirements are large, and their COPs are often 0. 5 (single-effect) to 1. 0 (double-effect). For the same tonnage capacity, they require much larger cooling towers than vapor-compression chillers. However, absorption chillers, from an energy-efficiency point-of-view, excel where cheap, high grade heat or waste heat is readily available. In extremely sunny climates, solar energy has been used to operate absorption chillers. The single effect absorption cycle uses water as the refrigerant and lithium bromide as the absorbent. It is the strong affinity that these two substances have for one another that makes the cycle work. The entire process occurs in almost a complete vacuum. 1. Solution Pump – A dilute lithium bromide solution is collected in the bottom of the absorber shell. From here, a hermetic solution pump moves the solution through a shell and tube heat exchanger for preheating. 2. Generator – After exiting the heat exchanger, the dilute solution moves into the upper shell. The solution surrounds a bundle of tubes which carries either steam or hot water. The steam or hot water transfers heat into the pool of dilute lithium bromide solution. The solution boils, sending refrigerant vapor upward into the condenser and leaving behind concentrated lithium bromide. The concentrated lithium bromide solution moves down to the heat exchanger, where it is cooled by the weak solution being pumped up to the generator. . Condenser – The refrigerant vapor migrates through mist eliminators to the condenser tube bundle. The refrigerant vapor condenses on the tubes. The heat is removed by the cooling water which moves through the inside of the tubes. As the refrigerant condenses, it collects in a trough at the bottom of the condenser. 4. Evaporator â⠂¬â€œ The refrigerant liquid moves from the condenser in the upper shell down to the evaporator in the lower shell and is sprayed over the evaporator tube bundle. Due to the extreme vacuum of the lower shell [6 mm Hg (0. kPa) absolute pressure], the refrigerant liquid boils at approximately 39 °F (3. 9 °C), creating the refrigerant effect. (This vacuum is created by hygroscopic action – the strong affinity lithium bromide has for water – in the Absorber directly below. ) 5. Absorber – As the refrigerant vapor migrates to the absorber from the evaporator, the strong lithium bromide solution from the generator is sprayed over the top of the absorber tube bundle. The strong lithium bromide solution actually pulls the refrigerant vapor into solution, creating the extreme vacuum in the evaporator. The absorption of the refrigerant vapor into the lithium bromide solution also generates heat which is removed by the cooling water. The now dilute lithium bromide solution collects in the bottom of the lower shell, where it flows down to the solution pump. The chilling cycle is now completed and the process begins once again. [edit] Industrial chiller technology Industrial chillers typically come as complete packaged closed-loop systems, including the chiller unit, condenser, and pump station with recirculating pump, expansion valve, no-flow shutdown, internal cold water tank, and temperature control. The internal tank helps maintain cold water temperature and prevents temperature spikes from occurring. Closed loop industrial chillers recirculate a clean coolant or clean water with condition addititives at a constant temperature and pressure to increase the stability and reproducibility of water-cooled machines and instruments. The water flows from the chiller to the application's point of use and back. If the water temperature differentials between inlet and outlet are high, then a large external water tank would be used to store the cold water. In this case the chilled water is not going directly from the chiller to the application, but goes to the external water tank which acts as a sort of â€Å"temperature buffer. † The cold water tank is much larger than the internal water tank. The cold water goes from the external tank to the application and the return hot water from the application goes back to the external tank, not to the chiller. The less common open loop industrial chillers control the temperature of a liquid in an open tank or sump by constantly recirculating it. The liquid is drawn from the tank, pumped through the chiller and back to the tank. An adjustable thermostat senses the makeup liquid temperature, cycling the chiller to maintain a constant temperature in the tank. One of the newer developments in industrial water chillers is the use of water cooling instead of air cooling. In this case the condenser does not cool the hot refrigerant with ambient air, but uses water cooled by a cooling tower. This development allows a reduction in energy requirements by more than 15% and also allows a significant reduction in the size of the chiller due to the small surface area of the water based condenser and the absence of fans. Additionally, the absence of fans allows for significantly reduced noise levels. Most industrial chillers use refrigeration as the media for cooling, but some rely on simpler techniques such as air or water flowing over coils containing the coolant to regulate temperature. Water is the most commonly used coolant within process chillers, although coolant mixtures (mostly water with a coolant additive to enhance heat dissipation) are frequently employed. [edit] Industrial chiller selection Important specifications to consider when searching for industrial chillers include the total life cycle cost, the power source, chiller IP rating, chiller cooling capacity, evaporator capacity, evaporator material, evaporator type, condenser material, condenser capacity, ambient temperature, motor fan type, noise level, internal piping materials, number of compressors, type of compressor, number of fridge circuits, coolant requirements, fluid discharge temperature, and COP (the ratio between the cooling capacity in RT to the energy consumed by the whole chiller in KW). For medium to large chillers this should range from 3. 5-7. 0 with higher values meaning higher efficiency. Chiller efficiency is often specified in kilowatts per refrigeration ton (kW/RT). Process pump specifications that are important to consider include the process flow, process pressure, pump material, elastomer and mechanical shaft seal material, motor voltage, motor electrical class, motor IP rating and pump rating. If the cold water temperature is lower than -5 °C, then a special pump needs to be used to be able to pump the high concentrations of ethylene glycol. Other important specifications include the internal water tank size and materials and full load amperage. Control panel features that should be considered when selecting between industrial chillers include the local control panel, remote control panel, fault indicators, temperature indicators, and pressure indicators. Additional features include emergency alarms, hot gas bypass, city water switchover, and casters. [edit] Refrigerants A vapor-compression chiller uses a refrigerant internally as its working fluid. Many refrigerants options are available; when selecting a chiller, the application cooling temperature requirements and refrigerant's cooling characteristics need to be matched. Important parameters to consider are the operating temperatures and pressures. There are several environmental factors that concern refrigerants, and also affect the future availability for chiller applications. This is a key consideration in intermittent applications where a large chiller may last for 25 years or more. Ozone depletion potential (ODP) and global warming potential (GWP) of the refrigerant need to be considered. ODP and GWP data for some of the more common vapor-compression refrigerants: Refrigerant ODP GWP R-134a 0 1300 R-123 0. 012 120 R-22 0. 05 1700 R401a 0. 027 970 R404a 0 3260 R407a 0 R407c 0 1525 R408a 0. 016 3020 R409a 0. 039 1290 R410a 0 1725 R500 0. 7 R502 0. 18 5600 [edit] See also HVAC Cooling tower Evaporative cooling Chemical engineering Mechanical engineering Architectural engineering Building services engineering [edit] References ^ American Society of Heating and Refrigeration Enginneers http://www. ashrae. org/publications/page/158 ^ Hydronika supplies 5 ton chiller units http://hydronika. com

Internationalization and Cultural Implications for Joint Ventures in Saudi Arabia

Internationalization and Cultural Implications for Joint Ventures in Saudi Arabia Introduction Brief Overview of the Topic In this literature review, it is necessary to consider the connection between internationalization and cultural implications for joint ventures in Saudi Arabia. This question is especially urgent nowadays due to the process of integration and cross-cultural communication.Advertising We will write a custom research paper sample on Internationalization and Cultural Implications for Joint Ventures in Saudi Arabia specifically for you for only $16.05 $11/page Learn More Due to the fact that the prevalent form of international business in Saudi Arabia is joint ventures, it is really significant for companies in Saudi Arabia, particular for the industrialization process because it provides immediate access to modern technologies and offers wider opportunities for the development and advancement of human resources (Mababaya, 2003a, p. 157). The increased interest in business operations in Saudi Arabia can be explained by the emerging opportunity for foreign investors to participate in the Kingdom’s industrial ventures. But what is more important is that international business relations are enhanced by Saudi’s impressive track records, respect for traditions and history, and international law (Mababaya, 2003a, p. 157). Hence, Saudi Arabia is considered to be an ideal place for creating joint ventures in cooperation with foreign investors due to many reasons, apart from the presence of abundant hydrocarbon resources. Importance of Literature Review for the Proposal Despite the fact that the country’s culture is homogeneous to some extent, Saudi people, particularly the representatives of young generations, have experience in cooperating with business partners from other cultures. Before the oil was discovered, Saudi Arabia has low rates of production and the core business operations were focused on trading (Katz, 2007). The commercial culture, therefore, assist them in becoming shrew d bargainers. Hence, due to the process of globalization and internationalization, cultural environment of Saudi Arabia has become really significant for other cultures. World market, therefore, is now more concerned with internationalization and cultural influence of the Middle East. In this research proposal, it is necessary to examine the core cultural implications for joint ventures in Saudi Arabia. The literature review presented below will prove that integration of cultural issues into the international business is very important, both for Saudi Arabia and for the foreign investors.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Literature Review Cultural Features of Saudi Arabia and Importance of Culture for International Cooperation In order to understand the process of globalization and cultural concerns related to it, it is necessary to study the peculiarities of Saudi cultures and traditions, particularly people’s strict adherence to them. Indeed, the mentality and history of the Saudi community should be taken in the deepest consideration. The importance of culture for the Saudi people and business world is proved by the researches presented below. Hence, Moran et al. (2007) has identified that â€Å"Arabs are people of great emotions and sentimentality – and sometimes of excess and extremes. They hold in high regard friendship, loyalty, and justice, and, when events and behavior go against that sense of justice, they will likely to be morally outrages and indignant† (p. 339). All those features play a significant in building successful business relations, but still one should not adhere to the presented stereotypes to a full extent. Walker et al. (2003) also agree with the assumption that cultural aspects should be carefully treated when it comes to the Middle East world. The researchers believe that the process of Westernization is rigidly confronted in Saudi Arabia, but this relates to Western culture only. In other words, Saudi culture reflects the ideas of accepting Western technology without impregnating Western culture and ideology. In particular, the Arabs â€Å"are opposed to Western cultural influences, seeing them as corrupting and debasing and potentially undermining their religious, ethnic and tribal heritage† (Walker, 2003, p. 96). This opposition proves that the importance of culture can only be conceived on the rise of the globalization process. The studies performed by Oxford Business Group (2008) have revealed that all issues connected with cooperation and trading in Saudi Arabia is closely related to Islam. It implies that all business transactions and joint ventures are initially based on conservative approaches to building relations. Hence, older generations of the Arab world adheres to strict social codes and discourages the participation of women in managing and c oncluding business agreements. At the same time, the research has also revealed that younger generations have different views on cultural issues. Like Walker et al. (2003) and Moran et al. (2007), Mead and Andrews (2009) have attached importance to culture and religion in international cooperation with Saudi Arabia with the emergence of joint ventures. In particular, extreme conservatism of Saudi community still opposes to Westernization due to rigid loyalty to traditions and moral codes. In this regard, the management and human resource management system is not subjected to cultural democratization and socialization (Meat and Andrews, 2005, p. 74). Shoult (2006) has also conducted research on joint ventures and importance of Saudi culture for establishing successful cooperation. In particular, the author notes that â€Å"if its performance has failed quickly to reach the Saudi partners’ expectations, it may even find itself treated as a distressed department of their own es tablishment† (Shoult, 2006, p.169). The knowledge of the Arab mentality and psychology is paramount for foreign partners to organize successful joint ventures.Advertising We will write a custom research paper sample on Internationalization and Cultural Implications for Joint Ventures in Saudi Arabia specifically for you for only $16.05 $11/page Learn More One way or another, it is essential to have an enthusiastic and creative Saudi partner who is willing to cooperate. Arising from this fact, Mababaya (2003b) has found that the failure of leading British company to establish successful relations lies in their feeble attempt to understand cultural specifics of the Middle East world. Ignoring cultural context, the companies failed to cope with emerging problems. Other researchers (Onkvisit and Shaw, 2008; Broways and Price, 2008) also agree with the idea that a cross-cultural factor should be a priority to the Western partners if they plan to organize a joint venture in Saudi Arabia. In particular, they should know the specifics of working hours and holiday differences. The author also examines the secrets of successful communication where a foreign partner should spend a considerable amount of time before proceeding with business issues. Onkvisit and Shaw (2008) state that trust is the basis of all business operations and a necessary condition for all joint ventures. In general, the above-presented studies reveal several important facts about the Middle East world and Saudi Arabia in particular. First of all, the Arab people attach much attention to friendship and justice and have a great respect to older generations. Due to the fact that these people are of great sentimentality, they value a respectful and punctual attitude to them. In business operations, they greatly oppose to the Westernization process and participation of women. Finally, they give credit to Islam and believe that trust is the basis of a successful cooperatio n. All these factors should be carefully tackled if foreign partners want to establish favorable relations with the Arab people. Influence of Internationalization on Joint Ventures in Saudi Arabia Saudi Arabia is known as the main world producer of oil and, therefore, it plays a huge role in oil market (Cordesman, 2003, p. 473). Supplying about 95 % of oil, Saudi Aramco provides strong strategic privilege to the country as well as international flexibility and acceptance among other world producers (Cordesman, 2003, p. 473). The process of internalization that has penetrated to the country has given rise to the country’s cultural recognition and compromise on the part of leading world producers. Judging from the above-presented facts, it should be assumed that the process of internalization has increased the importance of the Arab culture and has introduced the Middle East on the world arena. On the one hand, it granted brilliant opportunities for the country’s develop ment. On the other hand, the country has faced serious multicultural and international issues that are hard to overcome.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The process of globalization has greatly contributed to the advancement of economy in Saudi Arabia. Import and export activities carried out by family business houses haves changed their course to global business operations. As a result the world has recognized such international enterprises as SABIC, Kingdom Holding, and ARAMCO (Ali, 2008, p. 227). In addition, the membership the WTO has also enables the country to advance their health care systems and improve the diary industry. According to Ali (2008), â€Å"globalization is more than business involvement and that the latter should not be divorced from its political and environmental concerns† (p. 227). Ramady (2010) underlines the direct dependence of cultural concerns from globalization. With regard with this, the formation of an appropriate business and cultural environment is crucial for the Arab world to meet the challenges of Westernization. In his studies, the author insists on the idea that the major outcome of glo balization is increasing concerns with preserving culture and religion and protecting them from outer invasion. Therefore, although the process of internationalization providers wider opportunities for the economic development but creates challenges for traditions, ethnicity, religions, and moral codes. Aulakh and Schetchter (2000) have also provided evidence for ideological and cultural influence of globalization on Saudi Arabia and other countries with promising perspectives. The authors provide arguments concerning the role of the countries involved in the process of globalization pertained to economic and cultural areas. Analyzing the studies presented by Ramady (2010) and Aulakh and Schetchter (2000), the process of globalization is also greatly influenced by the Middle East world whose traditions and customs are considered by other world agents structuring the stages of internationalization. This point of view is also supported by Fox et al. (2006) who underline a huge role of the Middle East in forming the process of internalization. Shifts in Culture Being the Result of Business Cooperation between the Western World and Saudi Arabia A great number of studies have been devoted to multinational business operations all over the world, but few of them are connected with Saudi Arabia. Both foreign visitors and investors of Saudi joint ventures, and the Arabians should find a compromise in cooperating and building favorable business relations at the international level. But the main task of this literature review is to analyze what how international culture influences the creation of joint industries in Saudi Arabia with regard to the Arab culture, religion, and firmly established traditions. In studies presented by Moran et al. (2007), the researchers examine the cultural effects that the process of Westernization has on Saudi managers, which make them less paternalistic (p. 339). The scholars have also underscored that the increasing tendency in creating t raining programs in Saudi Arabia being the result of its cooperation with the United States. The rapid integration of the Arab world to the international arena has led to rapid shifts in the Arab culture in terms of business operations and management. In particular, the country has faced a rigorous competition and increasing standards that resulted in some changes. Rao (2001) in his studies of the globalization process emphasizes that lack of understanding of cross cultural relations and diversity can result in a serious failure to interact with the trading partners. The same concerns the Middle East world whose specific culture should be adjusted to the international culture and, vice versa, Western world should be more sensitive to Saudi managers and businessmen whose language involves both verbal and non-verbal communication (Rao, 2001, p. 154). Studies by Adekola and Sergi (2007) also contribute to understanding cross-cultural relations between Saudi Arabia and other cultures. I n particular, they investigate what the opportunities that the international business has created for the Arab worlds, how Western countries treat the Arab culture, and why cultural implications are tangible for the Arab community. The rise of globalization has influenced many industrial areas of Saudi Arabia, particularly its dairy production. After the country has jointed the World Trade Organization, it has received access to free trade and many other benefits such as reduced tariffs, and the rise of joint venture organization with other foreign partners. Fenn (1994) has conducted an independent research where the scholar has defined the specifics of carrying out business in Saudi Arabia. While discussing the peculiarities of Saudi culture and its influence on the international business, Fenn (1994) introduces some recommendations for foreign investors to follow before penetrating to the Arab world. Studying the findings carefully, it is possible to admit that the Saudi managers have certain cultural rules which make women’s intervention problematic. This factor plays a huge role in business relations, specifically in the international world where both men and women have equal opportunities for self-realization. Like Fenn, Mead (2005) insists on the fact that the process of internationalization implies â€Å"the free movement of political, economic, and cultural resources between countries, each society influencing and being influenced by every other society† (p.72). The problem is that Western values still dominate on the world arena of business and commerce. This particularly concerns the United States that propagandize their cultural and politics, which is often perceived as an assault of other cultures and economies. Kangari and Lucas (1997) have also admitted the fact that the discovery of oil in Saudi Arabia has imposed a cultural change on the Arab world. The Kingdom has been forced to adapt to abrupt shifts in culture to advance Saudi industries and economies. According to the scholars, â€Å"rapid progress in the material sense has resulted in a sort of cultural backlash, and old traditions have been strengthened† (Kangari and Lucas, 1997, p. 42). With regard to those dramatic changes, they consider it necessary to work our important strategies for dealing with cultural shifts for the Middle East world to adjust to a new cultural background. One of the best strategies proposed is avoiding conflicts and preserving neutrality in business world. A thorough consideration of cultural effects on joint ventures in Saudi Arabia leads to an assumption that Western and Eastern worlds have rigid differences in conducting business. Nevertheless, a compromise should be reached to succeed in advancing international business. Conclusion Although the culture of Saudi Arabia is homogeneous, the country’s population, particularly the younger generations, are experienced enough in cooperating with foreign business pa rtners. Before the discovery of oil in Saudi Arabia, it has insignificant rates of production and the main focus was made on commercial operations. However, this trading culture has played a decisive role in establishing relations with other countries and leading producers. With regard to this the process of globalization has considerably influenced the cultural environment of Saudi Arabia is carefully considered by other world agents. What is more important is that the Middle East world has faced with cross-cultural challenges as well. In this literature review, we have found that much research has been made on studying the peculiarities of the Arab cultures and how it affects the global communities. However, little concern has been revealed concerning how the Saudi people deal with those challenges and who they adjust to the process of Westernization. In addition, the literature has also disclosed the problem of inability of foreign partners to conceive the specifics of business r elations with Saudi Arabia, including their cultural values, religion issues, and important customs. Arising from the above-presented considerations, a golden medium should be found between economic development, cultural aspects, and internalization to build successful joint ventures in Saudi Arabia. Reference List Adekola, A. amd Sergi, B. (2007). Global business management: a cross-cultural perspective. US: Ashgate Publishing. Ltd. Ali, A. (2008). Business and management environment in Saudi Arabia: challenges and opportunities for multinational corporations. US: Taylor Francis. Aulakh, P. S., and Schetchter, M. G. (2000). Rethinking globalization(s): from corporate transnationalism to local interventions. US: Palgrave Macmillan. Browaeys, M.-J., and Price R. (2008). Understanding Cross-cultural management. US: Pearson Education. Cordesman, A. H. (2003) Saudi Arabia enters the 21st century. US: Greenwood Publishing Group. Fenn, D. (1994, January). Saudi Arabia: Veiled Opportuniti es. U. S. Department of Commerce, International Trade Administration. 16(1) Fox, J. W., Mourtada-Sabbah, and al-Mutawa, M. (2006). Globalization and the Gulf. US: Taylor Francis. Kangari, R. and Lucas, C. L. (1997). Managing international operations: a guide for engineers, architects, and construction managers. US: Publications. Katz, L. (2007). Negotiating International Business. US: Booksurge Publishing Mababaya, M. P. (2003a). The Role of Multinational Companies in the Middle East: The Case of Saudi Arabia. US: Universal-Publishers. Mababaya, M. P. (2003b). International Business in a Strange Cultural Environment. US: Universal-Publishers. Mead, R. (2005). International management: cross cultural dimensions. US: Willey-Blackwell. Mead, R., and Andrews, T. G. (2009). International Management. US: John Wiley and Sons. Moran, R. T., Harris, P. R., Moran, S. V. (2007). Managing cultural differences global leadership strategies for the 21st century. US: Butterworth-Heinemann. Onkvisi t, S. and Shaw, J. J. (2008). International Marketing: Strategy and Theory. US: Taylor Francis. Oxford Business Group (2008). The Report: Saudi Arabia: 2008. UK: Oxford Business Group. Ramady, M. A. (2010). The Saudi Arabian Economy: Policies, Achievements, and Challenges. US: Springer. Rao, C. P. (2001). Globalization and its managerial implications. US: Greenwood Publishing Group. Shoult, A. (2006). Doing business with Saudi Arabia. US: GMB Publishing Ltd. Walker, D. M., Walker, T. D. and Schmitz, J. T. (2003). Doing business internationally: the guide to cross-cultural success. US: McGraw-Hill Professional.

Rebecca essays

Rebecca essays 1. Do you think the title of the book Rebecca is appropriately named? Explain. Yes, I think the title of the book is very appropriate. Although Rebecca did not actually appear in the story, she is a very important role form the beginning of the story till the end, every character was being influenced by her and she is the centre of the story, by naming the book Rebecca, it can attract readers attention and arouse their interests. Moreover, the name of Rebecca is repeated many times in the story, it gives a special effect to the story. Why do I say that Rebecca is one of the most important roles in the story? If you have read the story, you must notice that when the story starts, Rebecca had already died, she did not actually appear in the story at all, however, readers notice Rebeccas existence at the beginning of the story, as the narrator sees that Maxim was constantly thinking of her and Rebeccas things, for example the poetry that Rebecca gave Maxim. Moreover, Rebecca was constantly reminded by the narrator, throughout the story, and as the story goes on, the story of Maxim murdering Rebecca was unfold. Rebecca is a very important role because everything starts from the murdering of her, as Maxim has murdered her, was always afraid of being discovered and so he went to Monte Carlo and met the narrator, the story was developed from the murder of Rebecca. If Rebecca was not murdered, all of these things would not happen, so we can say that she is a very important role in the story. She is a very important character, as she influences all most all of the other characters in the story, for example Maxim , Mrs. Danvers ,Jack Favell , Frank, the other high social status people and definitely she haunted the narrator most. In the first half of the story the narrator thinks that Maxim was deeply in love with her and throughout the story she is constantly comparing herself ...

Case study Example | Topics and Well Written Essays - 1750 words - 1

Case Study Example ters, telecommunication products and a large variety of medical tools and equipment, and lastly, small â€Å"components† ranging from chips to batteries. If the Philips NV is considered with respect to its performance in these four potential domains, it can be stated that the enterprise has done good enough to be ranked among the big names such as the General Electric, Sony, Matsushita and Siemens which are well-known as the global competitors. This is partly evident from the fact that according to results of a survey conducted in the second half of the 1980s, which was about 100 years since the birth of Philips NV, the enterprise had spread so much that its subsidiaries were noticed to be functional in 60 countries worldwide which had offered job opportunities to nearly 300,000 employees from all over the world. (Hill, n.d. cited in Jones and Mathew, 2009, p. 523). However, in spite of the fact that the enterprise had multiplied its business and revenues manifolds since its s tart up to 1990, Philips NV found itself in big trouble in terms of financial losses that amounted to about $ 2.2 billion on a profit of $ 28 billion and declining revenues because of some hardships encountered in the 1980s. It might have happened so because of the dynamic and increasingly competitive nature of the global electronics industry that almost experienced a technological revolution in the period between 1970s and 1980s. World War II spanning from 1939 to 1945 had created many challenges and issues for Philips NV in a number of ways. Philips’ head office was located in Eindhoven in Netherlands. Because of the war, the enterprise had to organize its foreign activities outside its head office in Eindhoven since Netherlands was occupied by Germany during the war. Under such circumstances, the national organizations owned by Philips had no choice but to function on their own. This paved way for these organizations to develop themselves as independent companies each of them having its

Critically reflect on the nature of management practice and the role Essay

Critically reflect on the nature of management practice and the role theory plays, if at all, on management practice - Essay Example An organization is a very intrinsic system, and to make the system to remain sustain a considerable amount of flexibility is required (Dawson, 2009, p.13). This kind of organizational flexibility is given by the heterarchy organizational structure where the flow of information is not constrained. On the other hand a hierarchical organizational structure is one where every organizational entity excluding one is the subordinate of the other entity. It is not a flattened structure and has a centralized power of control. In this kind of structure the power is on the top level and it diminishes at the subsequent levels (Allee, 2002, pp.78-79). The hierarchical organizational structure is seen almost in every big company where there exist different levels of power of authority and management. But in today’s scenario of adaptation to more of flexible structures heterarchy organizational structure is the best mode for system formulation. Though it has not been seen as a very regular m easure in many organizations but those corporations who has such a flattened structure is more flexible and provides better scope for development. Thus according to me both the structures has its pros and cons but heterarchy organizational structure is the best structure to be adapted. Heterachy organizational structure is a lateral coordination of organizational diversity. It has been characterized as a distributed intelligence that is negotiable at multiple evaluative criteria. From the past two centuries hierarchical organizational structure has been the dominant model. In the early 19th century the traditional approach in the organizational system was more prominent. The bureaucratic traditional approach emphasized more on the rational control. This control was exercised through formalized communication in order to avoid misuse of power. Scientific management gained more efficiency in