EU Subsisdies Order Essay Example for Free

EU Subsisdies Order Essay 1.  Ã‚  Ã‚  Ã‚  Ã‚   Introduction The European Union introduced the Common Agricultural Policy (CAP) in the 1950s, which was aimed at encouraging better productivity in the food chain to ensure that consumers had a stable supply of affordable food and that the EU had a viable agricultural sector. This was essential in post WW2 Western Europe, where societies had been damaged by years of war and the agricultural sector crippled. The CAP in the pre 1990s period offered subsidies and guaranteed prices to farmers by having the EU buy agricultural products whenever the prices fell below specified support levels, in order to provide a production incentive for food products. This policy was backed by tariffs which offset the difference between European and world agricultural prices in order to prevent the CAP from drawing in large quantities of imports. Furthermore, financial assistance for farming investment was provided to facilitate the restructuring of farming, ensuring that farms developed in size, management and technology, improving efficiency and productivity. (Leguen de Lacroix, 2004) Krugman writes that since the 1970s, the support prices set by the European Union was so high that Europe which would have been an importer of most agricultural products under free trade, was producing more agricultural products than consumers were willing to buy. This resulted in the EU being obligated to buy and store huge quantities of food, and at the 1985, European nations had stored 780,000 tons of beef, 1.2 million tons of butter and 12 million tons of wheat. This forced the EU to adopt a policy of subsidizing agricultural imports to dispose of this surplus stock and production, in order to avoid unlimited growth in stockpiles. (Krugman and Obstfeld, 2006) He further records the CAP as costing European taxpayers a staggering $50 billion in 2002, which does not include the indirect costs to food consumers as a result of higher prices. Government subsidies to European farmers were also equal to about 36 percent of the value of farm output, twice the U.S figure. The EU (European Trade) Commission announced that it would be phasing-out all export subsidies currently granted to exporters in the European Union in 18 December 2005. In this paper, the possible effects of this phasing out of export subsidies will be discussed and analyzed, together with the policy implications and appropriate policy changes that should be made along with the phasing out of export subsidies. A Theory of Export Subsidies Here a theory of export subsidies will be discussed within the field of international economics, in order to analyze the effects of export subsidies in theory on trade and economies, as well as to construct a framework from which the phasing out of the EU export subsidies can be discussed. The application of an export subsidy is just like any other subsidy – the exporters receive a higher price (by the amount of the subsidy) than what is actually paid by the foreign purchaser. Given this price obtainable for the exported good, producer of the export good in question will not sell in the domestic market at any lower price, so, assuming that consumers are prevented from buying from foreign suppliers at lower world prices, the domestic price facing both producers and consumers is driven up by the subsidy. This tells us that the prices faced by the consumer of agricultural products within the European Union are artificially inflated through the use of export subsidies. The application of export subsidies to large and small countries is different in theory. We consider the EU to be a â€Å"large country† with the power to influence world prices (of the export good). In this case, the increase brought about by the subsidy results in a fall in the world price of the export good – which results in a deterioration in the EU’s terms of trade. In the exporting country, consumers are hurt due to the raise in prices, producers gain, and the government loses because it must expend money on the subsidy. Hence an export subsidy must always reduce economic welfare, and will do so to a larger extent the larger is the country since this will result in a greater adverse terms of trade effect. Removal of the EU Export Subsidy One of the main criticisms of the EU CAP is the charge of â€Å"dumping†, or the exporting of goods at prices far below the cost of production, which Oxfarm claims depresses and destabilizes markets for non-subsiding exporters, especially those in the developing world. It suggests that the EU export subsidies should be removed so that such practices would not be so prevalent. However, the EU export subsidies cannot be eliminated without changing agricultural policies which encourage and boost production. Removal of export subsidies without agricultural policy reform would cause a build up of unmanageable stocks of beef, coarse grains and dairy products, which is costly to the Government. The Government would also incur huge losses if these stocks had to be disposed of on the domestic market. Therefore the removal of export subsidies would have to be accompanied by agricultural reform, which could take many forms. An example would be the implementation of production control through strict production quotas to eliminate surplus production due to the export subsidy, stricter than those that already exist through the CAP. Another policy option would be to reduce support prices. The effects of this would be to increase domestic consumption due to the reduced prices consumer have to pay in the domestic market, as well as a reduction in domestic agricultural production due to the lower price producers receive. Hence the need for export subsidies would diminish, as the potential for a build up of agricultural stock would be reduced. According to a study by Stout, Leetmaa and Normile, the elimination of EU support prices, with tariffs to protect agricultural products against import competition remaining in place, the largest impact within the EU would take place in the diary, coarse grain and beef markets. This is expected since these sectors are where the highest levels of price support are found, and for these agricultural products, as domestic prices fall, production and hence exports decline subsequently. This reduction in EU exports would have the effect of driving up world prices, increasing convergence between previously-distorted EU prices and world prices. The same study referenced above also studied the scenario in which the tariffs which protects the agricultural markets from import competition are eliminated. Such a policy initiative would allow the EU to import agricultural commodities at the world prices, in turn driving down the domestic EU prices of commodities, which are currently protected by heavy tariffs. The impact of tariff elimination would be felt the hardest in the markets where import tariffs are the highest, for example, the sugar, dairy, beef, corn and rice markets. According to another study by the OECD, the elimination of export subsidies has major consequences for much of the EU dairy and livestock product markets. As analyzed previously, the removal of export subsidies would lead to falling domestic prices, production and hence exports, as well as higher domestic consumption of these commodities. The study by OECD also documents that unsubsidized exports rise to replace the subsidized exports, as EU domestic price falls and the world price increases. The OECD writes that the consequence of export subsidy elimination for a commodity is an increase in the world price of the same commodity, as pointed out earlier. Here the OECD carries out a more exhaustive study into this effect, concluding that the magnitude of this effect on world prices depends on the importance of subsidized exports relative to the total volume of trade, and might be offset by cross-commodity effects. There effects are illustrated in the diagram below: The OECD also notes that EU meat exports are small relative to world totals and that not all of its export are subsidized. However the EU dairy product export market is a different story, compromising a much larger share of world markets, with most exports being subsidized. Hence the largest impacts would be felt in the diary markets, with world dairy prices increasing as subsidized exports are eliminated. Finally, the OECD recommends that the appropriate policy response together with an export subsidy elimination, which has the fewest market distorting consequences, is to completely abandon price supports, making use of export subsidy eliminations as an opportunity to accomplish such an aim. This is in agreement with the findings by Stout, Leetmaa and Normile. References Leguen de Lacroix, Eugene, ‘The Common Agricultural Policy Explained’, European Communities, October 2004 OECD, ‘A Forward-Looking Analysis of Export Subsidies in Agriculture’, Organisation for Economic Co-operation and Development Oxfarm Briefing Paper, ‘Stop the Dumping : How EU agricultural subsidies are damaging livelihoods in the developing world.’, Oxfarm International Stout, Jim., Leetmaa, Susan. And Normile, Mary Anne. ‘Evaluating EU Agricultural Policy Reform Using the EU WTO Model’, Economic Research Service, USDA, Washington, DC

Comparing The Adventures of Huckleberry Finn and A&P :: comparison compare contrast essays

Huck Finn and A+P Â   In the novel Huckleberry Finn, Huck goes through many adventures on the Mississippi River. He escapes from Pap and sails down a ways with an escaped slave named Jim. Huck goes through a moral conflict of how wrong it is to be helping Jim escape to freedom. Eventually Huck decides he will go against what society thinks and help Jim by stealing him from a farmer with the help of Tom Sawyer, a friend. In A+P the young man, Sammy, is confronted with an issue when he sees his manager expel some girls from the store he worked in simply because of their defiance to its dress code. In his rebellion against the owner, the boy decides to quit his job and make a scene to defend the rights he feels are being violated. In these stories, both the boys are considered superior to the authority that they are defying because of the courage that it took for Huck to free Jim, and for Sammy to quit his job for the girls because it was what they believed in. Â   Why would anyone in his or her right mind even think about freeing a slave? Everyone in the society was telling Huck that slaves were no more than ones property, but Huck began to question this belief when he got to know the property for who it really was. During the story there are many times when Huck feels an obligation to turn Jim in to the authorities and just get on with his life, but his conscience kept telling him that this man is a real person. Near the end of the story, Jim was stuck in a holding cell, since he had run away. After much consideration of the situation, Huck decides that he wants to free Jim because he believes that he shouldn't be treated that way. Even though the entire town believes that Jim should be contained and treated like property, Huck still sticks to his morals and goes along with the plan that could get him in trouble or even killed. At the end of the story we find out that Jim had always been free, and we now find Huck's actions to be heroic and noble.

Analysis of Distribution Channel of Reliance Communications

Table of contents | Chapter Name : Chapter No: | |Executive Summary 07 | |1) Introduction to the subject 08 | |1. 1) Theoretical foundation 09 | | | |1. ) Review of literature 10 | | | |1. 3) Review analysis 12 | |2) Introduction of the industry 14 | |2. ) Overview of industry 15 | | | |2. 2) Company profile 20 | | | |2. 3) History of the company 26 | | | |2. ) Reliance group and products 30 | | | |2. 5) Milestones 32 | |2. 6) performance of company 47 | |3) Objectives of study & research methodology 50 | |3. ) Objectives of study 51 | | | |3. 2) Research methodology 52 | |4) Data presentation, analysis & interpretation 55 | |4. 1) Data interpretation of retailers’ survey 56 | | | |4. ) Data interpretation of customers’ survey 57 | | | | | |5) Summary, Conclusion and Recommendations 61 | |5. ) Summary 62 | | | |5. 2) Conclusion 63 | | | |5. ) Recommendations 64 | | Appendix 66 | | | |Questionnaire 67 | | | |SWOT analysis 70 | | | |Market work ings | | Bibliography | Executive summary I have done my summer training project under â€Å"RELIANCE COMMUNICATIONS LTD. †. It is an integrated, convergent high capacity digital network, connecting people at affordable rates. Ranked #846 in 2008 Forbes Global 2000 list of companies, this telecommunication services company was a Dhirubhai Ambani brain child. OBJECTIVES The foremost objective of my work is studying the retailers’ behaviour so that the other main objective of my project to promote the product and increase the visibility of the product throughout the market that I had been provided can be achieved. So far I had also done promotional activities through print media and also did market survey and try to find out that how the product is performing in the market and try to find out weakness of the product. METHODOLOGY Research Type Exploratory, Descriptive Research Data Source Primary Data Research Instrument Questionnaires Type of Questionnaire Structured Sampling Unit Retailer Sampling Method Judgmental Contact Method Personal Interview Sample size 90 Respondents FINDINGS Availability is at 23% retailers 60% Respondents are satisfied with RelianceComm. Company is very strict in providing POP to retailers. Company is slow in providing claims pending on retailers. RECOMMENDATIONS Company should pay more attention towards advertisement Company should use its potential for distribution purpose through regular survey, quick solution, replacement and by providing for credit. Company should work for the interest of retailers. It can offer new schemes on sales and some occasional schemes also. CHAPTER 1 â€Å"INTRODUCTION TO THE SUBJECT† 1. 1)Theoretical Foundation DISTRIBUTION EXPANSION† is the reason behind the growth and sale of the company. To flourish a company needs to have a marke t and a proper distribution channel. It begins right from the birth of the product to the ultimate utilization. Distribution expansion doesn’t mean that to increase the number of retailers in the market, but it means the one who demands for Reliance can get it easily. It also means to increase the market share f the company and to capture and search for new market. While expanding the market we should also keep on working to retain our old clients. Whole distribution process is very systematic and complex. A delay in supply or order can stop the whole working of the market. There are many constraints in the market viz. shortage, distribution problem, non availability, communication gap etc. that should be removed. Here I am focusing only on one problem i. e. problem in distribution- How to remove it and help company in Distribution expansion. The whole task is oriented towards the retailer’s survey, checking the availability of reliance mobile products, and what are their complaints regarding the company. In the project I tried to find out the answers to the questions like- why there is a gap in distribution process, why some retailers are not ready to deal in reliance, and why the company is losing its customers. 1. 2)Review Of Literature Reliance Communications Limited – Financial and Strategic Analysis Review : Description Reliance Communications Limited (RCOM) is engaged in providing wireline and wireless and convergent digital network across India. The company’s business includes wireless, broadband, rural communication, reliance world, internet data centers, carrier business and infrastructure business. RCOM services covers about 20,000 towns and 450,000 villages. The company provides services across the entire communication value chain including services and infrastructure for individual, enterprise, applications, and consulting. RCOM has recently launched digital television services for its customers. Global Markets Direct’s Reliance Communications Limited – Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Reliance Communications Limited. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Scope : †¢ Provides key company information for business intelligence needs. †¢ The company’s strengths and weaknesses and areas of development or decline are analyzed. Financial, strategic and operational factors are considered. The opportunities open to the company are considered and its growth potential assessed. Competitive or technological threats are highlighted. †¢ The report contains critical company information – busine ss structure and operations, the company history, major products and services, key competitors, key employees and executive biographies, different locations and important subsidiaries. †¢ The report provides detailed financial ratios for the past five years as well as interim ratios for the last four quarters. †¢ Financial ratios include profitability, margins and returns, liquidity and leverage, financial position and efficiency ratios. Reasons to buy : †¢ A quick â€Å"one-stop-shop† to understand the company. Enhance business/sales activities by understanding customers’ businesses better. †¢ Get detailed information and financial and strategic analysis on companies operating in your industry. †¢ Identify prospective partners and suppliers – with key data on their businesses and locations. †¢ Capitalize on competitor's weaknesses and target the market opportunities available to them. †¢ Compare your company’s financial trends with those of your peers / competitors. †¢ Scout for potential acquisition targets, with detailed insight into the companies’ strategic, financial and operational performance. Review Analysis [pic] Review Analysis [pic] CHAPTER 2 â€Å"INTRODUCTION OF THE INDUSTRY† 2. )Overview Of Industry Telecom Industry in India †¢ history The telecom industry is one of the fastest growing industries in India. India has nearly 200 million telephone lines making it the third largest network in the world after China and USA. With a growth rate of 45%, Indian telecom industry has the highest growth rate in the world. History of Indian Telecommunications started in 1851 when the first operational land lines were laid by the government near Calcutta (seat of British power). Telephone services were introduced in India in 1881. In 1883 telephone services were merged with the postal system. Indian Radio Telegraph Company (IRT) was formed in 1923. After independence in 1947, all the foreign telecommunication companies were nationalized to form the Posts, Telephone and Telegraph (PTT), a monopoly run by the government's Ministry of Communications. Telecom sector was considered as a strategic service and the government considered it best to bring under state's control. †¢ Growth The first wind of reforms in telecommunications sector began to flow in 1980s when the private sector was allowed in telecommunications equipment manufacturing. In 1985, Department of Telecommunications (DOT) was established. It was an exclusive provider of domestic and long-distance service that would be its own regulator (separate from the postal system). In 1986, two wholly government-owned companies were created: the Videsh Sanchar Nigam Limited (VSNL) for international telecommunications and Mahanagar Telephone Nigam Limited (MTNL) for service in metropolitan areas. In 1990s, telecommunications sector benefited from the general opening up of the economy. Also, examples of telecom revolution in many other countries, which resulted in better quality of service and lower tariffs, led Indian policy makers to initiate a change process finally resulting in opening up of telecom services sector for the private sector. National Telecom Policy (NTP) 1994 was the first attempt to give a comprehensive roadmap for the Indian telecommunications sector. In 1997, Telecom Regulatory Authority of India (TRAI) was created. TRAI was formed to act as a regulator to facilitate the growth of the telecom sector. New National Telecom Policy was adopted in 1999 and cellular services were also launched in the same year. †¢ Major Players The GSM sector is dominated by Airtel, Vodfone-Hutch, and Idea Cellular, while the CDMA sector is dominated by Reliance and Tata Indicom. Opening up of international and domestic long distance telephony services are the major growth drivers for cellular industry. Cellular operators get substantial revenue from these services, and compensate them for reduction in tariffs on airtime, which along with rental was the main source of revenue. The reduction in tariffs for airtime, national long distance, international long distance, and handset prices has driven demand Service Providers | | | | | | |Aircel Group | | | | | | | |[pic] | | | |Assam, Bihar, Chennai, Himachal Pradesh, Jammu & Kashmir, North East, Orissa, Tamil Nadu, West Bengal, Kolkata, Delhi, Kerala, | | | |Karnataka, Andra Pradesh,UP(E), UP(w), Mumbai | | | |http://www. aircel. om | | | | | | | | | | | | | | | |Bharti Airtel Limited | | | | | | | |[pic] | | | |Delhi (Metro), Mumbai (Metro), Kolkata (Metro), Chennai (Metro), Andhra Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal | | | |Pradesh, Jammu & Kashmir, Kerala, Karnataka, Madhya Pradesh, Maharashtra, North East, Orissa, Punjab, Rajasthan, Tamil Nadu, | | | |Uttar Pradesh (E), Uttar Pradesh (W), West Bengal. | | | |http://www. airtelworld. com | | | | | | | | | | | | | | | |LOOP Mobile Ltd. | | | | | | | |[pic] | | | |Mumbai (Metro) | | | |http://www. bplmobile. com | | | | | | | | | | | | | | |Vodafone Essar Limited | | | | | | | |[pic] | | | |Andhra Pradesh, Chennai (Metro), Delhi (Metro), Gujarat, Haryana, Karnataka, Kolkata (Metro), Mumbai (Metro), Punjab, Rajasthan,| | | |Uttar Pradesh (W), Uttar Pradesh (E), West Bengal, Maharatshtra, Tamilnadu, Kerala, Jammu & Kashmir, Himachal Pradesh, Orissa, | | | |Bihar, Assam, North East, Madhya Pradesh. | | | |http://www. vodafone. om | | | | | | | | | | | | | | | |Idea Cellular Limited | | | | | | | |[pic] | | | |Delhi (Metro), Andhra Pradesh, Gujarat, Haryana, Himachal Pradesh, Maharashtra, Kerala, Madhya Pradesh, Rajasthan, Uttar Pradesh| | | |(E), Uttar Pradesh (W). | | | |http://www. ideacellular. om | | | | | | | | | | | | | | | |Reliance Telecom Limited | | | | | | | |[pic] | | | |Assam, Bihar, Himachal Pradesh, Kolkata, Madhya Pradesh, North East, Orissa, and West Bengal. | | | |http://www. reliancemobile. com | | | | | | | | | | | | | | | |Spice Communications Limited | | | | | | | |[pic] | | | |Karnataka, Punjab | | | |http://www. spiceindia. om | | | | | | | | | | | | | | | |Datacomm | | | | | | | | | | | |- | | | | | | | | | | | | | | | | | | | |S Tel Ltd | | | | | | | | | | | |- | | | | | | | | | | | | | | | | | | | |Unitech Wireless Ltd | | | | | | | | | | | |- | | | | | | | | | | | | | | | | | | | |ByCell Telecommunications | | | | | | | | | | |- | | | | | | | | | | | | | | | | | | | |Tata Teleservices Ltd | | | | | | | |[pic] | | | |- | | | | | | | | | | | | | | | | | | | |Etisalat DB Telecom Pvt. Ltd | | | | | | †¢ MARKET SHARE Telecommunication sector in India can be divided into two segments: Fixed Service Provider (FSPs), and Cellular Services. Fixed line services consist of basic services, national or domestic long distance and international long distance services. The state operators (BSNL and MTNL), account for almost 90 per cent of revenues from basic services. Private sector services are presently available in selective urban areas, and collectively account for less than 5 per cent of subscriptions. However, private services focus on the business/corporate sector, and offer reliable, high- end services, such as leased lines, ISDN, closed user group and videoconferencing. Cellular services can be further divided into two categories: Global System for Mobile Communications (GSM) and Code Division Multiple Access (CDMA). | | | | |GSM Subscribers – July 2009 | | | | Total GSM subscriber base reached 325. 0 million | | | |Service Provider Name | |Subscriber (Mn) | |Market Share (%) | | | |Bharti Airtel | |105. 18 | |32. 9 | | | |Vodafone Essar | |78. 68 | |24. 16 | | | |BSNL | |50. 70 | |15. 57 | | | |IDEA | |48. 2 | |14. 9 | | | |Aircel | |23. 10 | |7. 09 | | | |Reliance Telecom | |12. 4 | |3. 94 | | | |MTNL | |4. 33 | |1. 33 | | | |Loop Mobile | |2. 5 | |0. 72 | | | |All India | |325. 70 | |100 | | | †¢ CURRENT MARKET SCENARIO Reliance Communications (formerly Reliance Communications Ventures) is one of India's largest providers of integrated communicatio ns services. The company has more than 20 million customers and serves individual consumers, enterprises, and carriers, providing wireless, wireline, long distance, voice, data, and internet communications services through a number of operating subsidiaries. The company sells communications and digital entertainment products and services through its chain of Reliance Web World retail outlets. The company's Reliance Infocomm subsidiary provides wireless communications services throughout India. Reliance Communications is part of the Reliance – Anil Dhirubhai Ambani Group. The current network expansion undertaken by Reliance is the largest wireless network expansion undertaken by any operator across the world. It was with this belief in mind that Reliance Communications (formerly Reliance Infocomm) started laying 60,000 route kilometres of a pan-India fibre optic backbone. This backbone was commissioned on 28 December 2002, the auspicious occasion of Dhirubhai’s 70th birthday, though sadly after his unexpected demise on 6 July 2002. Reliance Communications has a reliable, high-capacity, integrated (both wireless and wire line) and convergent (voice, data and video) digital network. It is capable of delivering a range of services spanning the entire infocomm (information and communication) value chain, including infrastructure and services — for enterprises as well as individuals, applications, and consulting. Today, Reliance Communications is revolutionizing the way India communicates and networks, truly bringing about a new way of life. We will leverage our strengths to execute complex global-scale projects to facilitate leading-edge information and communication services affordable to all individual consumers and businesses in India. We will offer unparalleled value to create customer delight and enhance business productivity. We will also generate value for our capabilities beyond Indian borders and enable millions of India's knowledge workers to deliver their services globally. 2. 2)Company’s profile Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters. It has emerged as the only Indian company in the list of global companies that create most value for their shareholders, published by Financial Times based on a global survey and research conducted by PricewaterhouseCoopers in 2004. RIL features in the Forbes Global list of world’s 400 best big companies and in FT Global 500 list of world’s largest companies. Reliance Infocomm is the outcome of late Dhirubhai Ambani’s dream of bringing about a digital revolution in India that will bring to every Indian’s doorstep an affordable means of information and communication. â€Å"Make the tools of infocomm available to people at an affordable cost. They will overcome the handicaps of illiteracy and lack of mobility†, was how Dhirubhai, as he was fondly called, spelt out Reliance Infocomm’s mission in late 1999. He firmly believed the country could use information and communication technology to overcome its backwardness and underdevelopment. It was with this belief that Reliance Infocomm began laying its 60,000 route kilometres of pan-India fibre optic backbone in 1999. The backbone was commissioned on December 28, 2002, Dhirubhai’s 70th birth anniversary, first since his sad demise on July 6, 2002. â€Å"India ’s leading integrated telecom company†. India ’s leading integrated telecom company Reliance Communications is the flagship company of the Anil Dhirubhai Ambani Group (ADAG) of companies. Listed on the National Stock Exchange and the Bombay Stock Exchange, it is India’s leading integrated telecommunication company with over 85 million customers. Our business encompasses a complete range of telecom services covering mobile and fixed line telephony. It includes broadband, national and international long distance services and data services along with an exhaustive range of value-added services and applications. Our constant endeavour is to achieve customer delight by enhancing the productivity of the enterprises and individuals we serve. Reliance Mobile (formerly Reliance India Mobile), launched on 28 December 2002, coinciding with the joyous occasion of the late Dhirubhai Ambani’s 70th birthday, was among the initial initiatives of Reliance Communications. It marked the auspicious beginning of Dhirubhai’s dream of ushering in a digital revolution in India. Today, we can proudly claim that we were instrumental in harnessing the true power of information and communication, by bestowing it in the hands of the common man at affordable rates. We endeavour to further extend our efforts beyond the traditional value chain by developing and deploying complete telecom solutions for the entire spectrum of society. â€Å"A dream come true† The Late Dhirubhai Ambani dreamt of a digital India — an India where the common man would have access to affordable means of information and communication. Dhirubhai, who single-handedly built India’s largest private sector company virtually from scratch, had stated as early as 1999: â€Å"Make the tools of information and communication available to people at an affordable cost. They will overcome the handicaps of illiteracy and lack of mobility. † It was with this belief in mind that Reliance Communications (formerly Reliance Infocomm) started laying 60,000 route kilometres of a pan-India fibre optic backbone. This backbone was commissioned on 28 December 2002, the auspicious occasion of Dhirubhai’s 70th birthday, though sadly after his unexpected demise on 6 July 2002. Reliance Communications has a reliable, high-capacity, integrated (both wireless and wireline) and convergent (voice, data and video) digital network. It is capable of delivering a range of services spanning the entire infocomm (information and communication) value chain, including infrastructure and services — for enterprises as well as individuals, applications, and consulting. Today, Reliance Communications is revolutionising the way India communicates and networks, truly bringing about a new way of life. †¢ Vision Of The Company We will leverage our strengths to execute complex global-scale projects to facilitate leading-edge information and communication services affordable to all individual consumers and businesses in India. We will offer unparalleled value to create customer delight and enhance bus iness productivity. We will also generate value for our capabilities beyond Indian borders and enable millions of India's knowledge workers to deliver their services globally. † †¢ Corporate Governance Organizations, like individuals, depend for their survival, sustenance and growth on the support and goodwill of the communities of which they are an integral part, and must pay back this generosity in every way they can†¦ This ethical standpoint, derived from the vision of our founder, lies at the heart of the CSR philosophy of the Reliance – ADA Group. While we strongly believe that our primary obligation or duty as corporate entities is to our shareholders – we are just as mindful of the fact that this imperative does not exist in isolation; it is part of a much larger compact which we have with our entire body of stakeholders: From employees, customers and vendors to business partners, eco-system, local communities, and society at large. We evaluate and assess each critical business decision or choice from the point of view of diverse stakeholder interest, driven by the need to minimize risk and to pro-actively address long-term social, economic and environmental costs and concerns. For us, being socially responsible is not an occasional act of charity or that one-time token financial contribution to the local school, hospital or environmental NGO. It is an ongoing year-round commitment, which is integrated into the very core of our business objectives and strategy. Because we believe that there is no contradiction between doing well and doing right. Indeed, doing right is a necessary condition for doing well. †¢ Chairman's Profile: Anil D. Ambani [pic] Regarded as one of the foremost corporate leaders of contemporary India, Shri Anil D Ambani, 48, is the chairman of all listed companies of the Reliance ADA Group, namely, Reliance Communications, Reliance Capital, Reliance Energy and Reliance Natural Resources limited. He is also Chairman of the Board of Governors of Dhirubhai Ambani Institute of Information and Communication Technology, Gandhi Nagar, Gujarat. Till recently, he also held the post of Vice Chairman and Managing Director of Reliance Industries Limited (RIL), India’s largest private sector enterprise. Anil D Ambani joined Reliance in 1983 as Co-Chief Executive Officer, and was centrally involved in every aspect of the company’s management over the next 22 years. He is credited with having pioneered a number of path-breaking financial innovations in the Indian capital markets. He spearheaded the country’s first forays into the overseas capital markets with international public offerings of global depositary receipts, convertibles and bonds. Starting in 1991, he directed Reliance Industries in its efforts to raise over US$ 2 billion. He also steered the 100-year Yankee bond issue for the company in January 1997. He is a member of: == Wharton Board of Overseers, The Wharton School, USA = Central Advisory Committee, Central Electricity Regulatory Commission == Board of Governors, Indian Institute of Management, Ahmedabad == Board of Governors Indian Institute of Technology, Kanpur In June 2004, he was elected for a six-year term as an independent member of the Rajya Sabh a, Upper House of India’s Parliament a position he chose to resign voluntarily on March 25, 2006. Awards and Achievements: == Conferred the ‘CEO of the Year 2004’ in the Platts Global Energy Awards == Rated as one of ‘India’s Most Admired CEOs’ for the sixth consecutive year in the Business Barons – TNS Mode opinion poll, 2004 == Conferred ‘The Entrepreneur of the Decade Award’ by the Bombay Management Association, October 2002 Awarded the First Wharton Indian Alumni Award by the Wharton India Economic Forum (WIEF) in recognition of his contribution to the establishment of Reliance as a global leader in many of its business areas, December 2001 Selected by Asiaweek magazine for its list of ‘Leaders of the Millennium in Business and Finance’ and was introduced as the only ‘new hero’ in Business and Finance from India, June 1999. †¢ Board of directors †¢ shri Anil D. Ambani – Chairman [pic] †¢ Prof. J Ramachandran [pic] †¢ Shri S. P. Talwar [pic] †¢ Shri Deepak Shourie [pic] †¢ Shri A. K. Purwar [pic] 2. 3)History Of Company [pic] [pic] The Times of India reported on 5th May that [[Reliance]] Mutual Fund has kept its position as India’s largest fund house with assets crossing INR 48,000 crores. Reliance has the distinction of being the first Indian company to be named among the five hundred listed in Forbes. How did all this come about? Let us dig into the rags to riches story of Reliance. The one name associated with it from its foundations is Dhirubhai Ambani. What is Reliance? The Reliance Group is India’s largest business house with total revenues being more than $22. 6 billion. This is equal to 3. 5% of India’s GDP. Reliance contributes to 10% of India’s total indirect tax and 6% of her total exports. Reliance network of exports spread out to more than one hundred countries across the globe. What are the activities of Reliance? It is involved in oil exploration and production, gas refining and marketing, petrochemicals, textiles, financial services, insurance, power, telecommunications and infocom initiatives. The names of Reliance and Dhirubhai Ambani go hand in hand. He was born on 28th December 1932, in Chorwad, Gujarat. He belonged to the Hindu Modh Bania community. Dhirubhai built India’s largest private sector empire, Reliance, and created an equity cult. His father was a schoolteacher. Dhirubhai started off by selling fried snacks to pilgrims in Mount Girnar during weekends. After school he became a dispatch clerk at A. Besse & Company. The latter became distributors of Shell and Dhirubhai was sent to manage an oil filling station at Aden. For some time he also worked in Dubai. In 1958 he returned to India with INR 50,000/- in his pocket. With this he set up a textile trading company. A  This was the first chapter of the story of Reliance. Aptly helped by his wife and two sons Dhirubhai diversified his interests to petrochemicals, telecommunications and information, technology, energy, power, finance, capital markets and logistics. Reliance gave new dimensions to India’s equity culture. Till then the market had been dominated by financial institutions but with Reliance coming into the picture thousands of retail investors jumped into the fray by putting their trust in the name of Reliance. With innovative instruments like convertible debentures from the 1980’s Reliance became a hot favorite in the Stock Market. Reliance was the pioneer Indian company to raise funds in the international markets. Only India’s sovereign rating restricted its high credit taking in international markets. The Federation of Indian Chambers of Commerce and Industry named Dhirubhai Ambani of Reliance The Indian Entrepreneur of the 20th century. The Times of India conducted a poll in which he was acclaimed to be the greatest creator of wealth in the 20th century. Thus we see that Reliance Industries Ltd was the brainchild and product of the labors of Indian business tycoon, Dhirubhai Ambani alias Dhirajlal Hirachand Ambani. The story of Reliance makes fascinating reading. During the 1950’s the administrators of Yemen discovered that a lot of their currency, the Rial, was disappearing through Aden because of a young man placing unlimited buy orders for Rials. The Rials, at that time, were made of pure silver and was greatly in demand in the London Bullion Exchange. Dhirubhai bought and melted the Rials and sold it to the London bullion traders. Within three months his work came to a halt but by that time he had made few lacs. In the 60’s Dhirubhai returned to India and started Reliance Commercial Corporation with a humble capital. The business was related to the import of polyester yarn and export of spices. The first address of Reliance was in Narsinathan Street in Masjid Bunder â€Å" a small 350 sq ft joint with a telephone, table and three chairs and only two assistants. The family too managed in a one room flat. The fortunes of Reliance soon began to change. In 1966 the first textile mill was set up at Naroda using polyester fibre. He branded his products Vimal and thanks to intensive marketing, Vimal became a household name. Financial retail outlets were set up where only Vimal brands were sold. In 1975 a visiting World Bank team certified it to be excellent even by the standards of the developed world. The next step of Reliance was to enter the equity world. An equity cult came to be created. Nearly 60,000 investors from all parts of India placed their trust in Reliance IPO in 1977. Rural India and first time investors learnt to place its trust and money in the name of Reliance. In 1982 Reliance Industries came up against a rights issue about partly convertible debentures. It was rumored that Reliance was making all efforts to see that their stock prices did not fall by even an inch. Ready to strike, a Bear cartel consisting of a group of stockbrokers from Calcutta began to short sell Reliance shares. Another group, friendly towards Reliance began to buy the short sold shares on the Bombay Exchange. The Bears were confident that the Bulls would soon run out of cash and be prepared for an understanding under the badla-trading scheme prevalent in the Bombay Stock during that time. But the tables came to be turned in favor of Reliance. Dhirubhai himself provided the required cash when the Bulls demanded a physical delivery of shares. The net result was that Reliance shares shot up from INR 152/- to 180/- within a few minutes. The market was in uproar with Dhirubhai as the uncrowned king. The Bombay Stock Exchange came to be closed for three full days. Authorities intervened and brought down the unbadla rate to 2/- with a ruling that the Bear cartel would have to deliver the shares within the next few days. The Bears bought Reliance shares from the market at higher price levels and most probably Dhirubhai himself supplied these shares and earned a healthy profit from the great adventure. Questions naturally arose around Reliance. How could a yarn trader within a few years cough up such huge amounts of cash during a crisis? Parliament began to face queries. The Finance Minister gave the information that a non-resident Indian had invested nearly 220/- million INR in Reliance from 1982/83. These had been channelized through many companies all registered in the Isle of Man. The peculiarity was that all the owners had the common surname or Shah. However, Reserve Bank investigations did not find anything wrong done by Reliance and its friends. Keeping its core in petrochemicals Reliance soon diversified its activities to telecommunications, information technology, energy, power, retail, textiles, infrastructure services, capital markets and logistics. BBC described it as a business empire with an estimated annual turnover of $12bn, and an 85,000- strong workforce. Reliance has the distinction of being the only public limited company whose many annual general meetings had to be held in stadiums with more than 350,000 shareholders in attendance. Success creates jealousy. Reliance had to suffer its share. Nusli Wadia of Bombay Dyeing group was once the biggest competitor of Reliance. Wadia was known for his clout in political circles during the time when the economy had not been liberalized. Competition took an ugly turn when during the seventies Wadia got a permission from the then Janata Party ruled government to build a DMT (Dimethyl Terephthalate) plant. Then Ramnath Goenka of Indian Express turned his pen against Reliance. It seemed that Goenka was using a national newspaper for his own personal vendetta. But despite everything people did not lose faith in Reliance. Reliance ran into rough weather also with the V. P. Singh government. The license for importing Purified Terephthalic Acid was cancelled. This was essential as a raw material for manufacturing polyester yarn. The first stroke had paralyzed Dhirubhai but the second stroke spelt out the death sentence for him. He died in 2nd July 2002 leaving behind at the helm of Reliance his two sons Mukesh and Anil, wife and two daughters. His funeral was attended not only by big business and politicians but also by thousands of ordinary folks. He is an example of what a common person can do to help himself as well as the economy of his country. At the time of his death the Reliance group had a gross turn over of INR 75,000 crores from 70 crores in 1976/77. In 20003 Government of India issued a postal stamp (denomination 5/- INR) in Dhirubhai’s honour. Reliance began to flow through two channels after the death of Dhirubhai. Differences broke out between his two sons over ownership issues as well as private matters. It was expressed that this would have no impact on the functioning of the company â€Å" it being a company managed aggressively by professionals. This is of great importance to the Indian economy as a whole. The wife of Dhirubhai, Kokilaben mediated for her sons. Mukesh was awarded Reliance Industries and IPCL and this group came to be known, as Reliance Industries Ltd. Anil became head of Infocomm, Reliance Energy and Reliance Capital known as the Anil Dhirubhai Ambani Group (ADAG) 2. ) Reliance Group and Products Looking back, looking forward Reliance – Anil Dhirubhai Ambani Group, an offshoot of the Reliance Group founded by Shri Dhirubhai H Ambani (1932-2002), ranks among India’s top three private sector business houses in terms of net worth. The group has business interests that range from telecommu nications (Reliance Communications Limited) to financial services (Reliance Capital Ltd) and the generation and distribution of power (Reliance Infrastructure Limited). Reliance – ADA Group’s flagship company, Reliance Communications, is India's largest private sector information and communications company, with over 85 million subscribers. It has established a pan-India, high-capacity, integrated (wireless and wireline), convergent (voice, data and video) digital network, to offer services spanning the entire infocomm value chain. Other major group companies — Reliance Capital and Reliance Infrastructure — are widely acknowledged as the market leaders in their respective areas of operation. |[pic] |[pic] | | |Reliance Mutual Fund | |Reliance Energy Ltd. | |   |   | |[pic] |[pic] | |Harmony |Reliance Communications | | |   | |[pic] |[pic] | |Reliance Life Insurance |Reliance Anil Dhirubhai Ambani Group | |   |   | |[pic] |[pic] | |Reliance General Insurance |Reliance Portfolio Management Service | |   | |[pic] |   | |Reliance Big Entertainment |   | †¢ RELIANCE PRODUCTS ? Reliance Base Phone ? Reliance Mobile ? Reliance Data Card ? Reliance Voucher, E-Recharge ? Reliance PCO ? Reliance Broad Band 2. 5) Milestones 2008 |  |[p|  |January 12 | | | |ic| |Reliance Communicat ions receives Start-up GSM Spectrum | | | |] | | | |   |  |[p|  |January 16 | | | |ic| |Yahoo partners with Reliance Communications to provide Yahoo One Search for its CDMA and GSM customers. | | | |] | | | |   |  |[p|  |January 31 | | | |ic| |RCOM's Q 3 Net Profit increases by 48. 5% and Revenues Up by 29. 8 %. Remains the most profitable Telecom Company in | | | |] | |India. |   |  |[p|  |February 4 | | | |ic| |Reliance Communications offers Lifetime Validity at Rs 199 | | | |] | |RCOM’s subsidiary Infratel files Draft Red Herring Prospectus with SEBI | |   |  |[p|  |February 5 | | | |ic| |Reliance Mobile strengthens its religious content portfolio on Mobile by tie-up with Sadhana TV | | | |] | | | |   |  |[p|  |February 14 | | | |ic| |RCOM in partnership with CanvasM, launches Mulitplayer Mobile Games | | | |] | | | |   |  |[p|  |February 19 | | | |ic| |HDFC Bank ties up with RCOM, turns every Reliance Mobile into a credit card | | | |] | | | |   |  |[p|  |February 27 | | | |ic| |Reliance Communications consolidates Global Telecom Business under â€Å"Business | | | |] | |Globalcom† | | | | | |Reliance Communications forays into International Mobile Market with GSM License in Uganda. |   |  |[p|  |March 3 | | | |ic| |Reliance Communications drops prices of Internet Data Cards | | | |] | | | |   |  |[p|  | | | | |ic| |March 10 | | | |] | |Reliance Communications announces ESOPs for over 20,000 employees  Ã‚   | |   |  |[p|  |March 20 | | | |ic| |Reliance Communications and HTC forge Strategic Alliance | | | |] | | | |   |  |[p|  |March 27 | | | |ic| |Corporation Bank Launches Banking Services on Reli ance Mobile World | | |] | | | |   |  |[p|  |April 1 | | | |ic| |Reliance Communications forays into IT space, launches Reliance Technology Services Company | | | |] | | | |   |  |[p|  |April 9 | | | |ic| |RCOM launches Educational Portal on Reliance Mobile Phones | | | |] | | | |   |  |[p|  |April 25 | | | |ic| |Reliance Globalcom unit Reliance Infocom BV, Netherlands acquires Global WiMAX Operator eWave World | | | |] | | | |   |  |[p|  |April 29 | | | |ic| |Reliance Communications Announces Unlimited Free STD calls  Ã‚  Ã‚   | | | |] | | | |   |  |[p|  |April 30 | | | |ic| |Reliance Globalcom Launches Passport Global SIM | | | |] | |RCOM's Net Profit up by 70. % to Rs 5,401 crore | |   |  |[p|  |May 2 | | | |ic| |Reliance Communications’ Net Profit up by 70. 8% to Rs 5,401 crore (US$ 1,350 million), Revenues higher by 31. 8% to | | | |] | |Rs. 19, 068 crore (US$ 4,765 million) and EBIDTA increases by 43. 3% to Rs. 8, 199 crore (US$ 2049 million)   | | | | | |  Ã‚   | |   |  |[p|  |May 12 | | | |ic| |Reliance Communications and Alcatel form Joint Venture to offer Managed Network Services to telcos across the globe | | | |] | | | |   |  |[p|  | | | | |ic| |May 26 | | | |] | |Reliance Globalcom acquires UK based VANCO Group Limited | |   |  |[p|  |June 24 | | | |ic| |Reliance Globalcom, Stealth Communications forge Strategic Alliance to extend VOIP Network across 50 countries | | | |] | | | |   |  |[p|  |July 12 | | | |ic| |CA Exam Results on Reliance Mobile | | | |] | | | |   |  |[p|  |July 22 | | | |ic| |Reliance Communications Mobile Subscriber base crosses 50 Million | | | |] | | | |   |  |[p|  |July 29 | | | |ic| |CA Professional Exam Results on Reliance Mobile | | | |] | | | |   |  |[p|  |July 31 | | | |ic| |Reliance Communications (RCOM) announces its financial results for the first quarter ended June 30, 2008. Net Profit up | | | |] | |by 23. 9% to Rs. 1,512 crore (US$ 352 million) | |2007 |  |[p|  |January 10 | | | |ic| |Reliance Communications adds a record 1. 4 million subscribers in December â⠂¬Ëœ06 | | | |] | | | |   |  |[p|  |January 18 | | | |ic| |Reliance Communication launches unique â€Å"Simply 2030† plan on Reliance Hello | | |] | | | |   |  |[p|  |January 25 | | | |ic| |Reliance Communications promotes Roger Waters Music Concert | | | |] | | | |   |  |[p|  |January 29 | | | |ic| |RCOM shareholders approve tower business demerger with a 99. 9% overwhelming majority | | | |] | | | |   |  |[p|  |January 30 | | | |ic| |Overwhelming response to Reliance World’s National Digital Elocution Competition | | | |] | | | |   |  |[p|  |January 30 | | | |ic| |Reliance joins Lenovo and Intel for â€Å"Internet on the Move† | | | |] | | | |   |  |[p|  |February 2 | | | |ic| |Reliance Communications’ market capitalization tops Rs 1 lakh crore ( 1 trillion rupees or 24. 9 billion US dollars) on | | | |] | |Bombay Stock Exchange | |   |  |[p|  |February 16 | | | |ic| |Reliance Communications offers best v alue on roaming | | | |] | | | |   |  |[p|  |February 26 | | | |ic| |Search Jobs & Classified Ads from Reliance Mobile World – Reliance Communications ties up with Naukri. com | | | |] | | |   |  |[p|  |March 6 | | | |ic| |Reliance Communications ushers in ‘Virtual Global Conference Network’ | | | |] | | | |   |  |[p|  |March 7 | | | |ic| |DHIRUBHAI AMBANI – THE MAN I KNEW By KOKILABEN | | | |] | |Book on Founder Chairman launched. |   |  |[p|  |March 8 | | | |ic| |Reliance Communications launches ‘Roam Jamaica on Reliance Mobile | | | |] | | | |   |  |[p|  |March 16 | | | |ic| |Reliance Mobile launches ‘ Suno Zee’ | | | |] | | | |   |  |[p|  |March 19 | | | |ic| |Demerger of Passive Infrastructure division Reliance Communications & Reliance Telecom approved by the Bombay High Court| | | |] | | | |   |  |[p|  |M

Applications of 3g Technology in the Education Sector...

Study on â€Å"Applications of 3G technology in the Education sector: Perspective Bangladesh† Name: Md. Mahbubul Haque Osmani Faculty of MSJ department, University of Liberal Arts Bangladesh. Address: 105, 4th floor, Lake Circus, Kalabagan, Dhaka. Mobile: 01716806361 E-mail: osmani.mcj.du@gmail.com Applications of 3G technology in the Education sector: Perspective Bangladesh ABSTRACT: Bangladesh recently touched a new milestone in Information and Communication Technology with the inauguration of commercial testing of Third Generation (3G) services through the state-run mobile service provider Teletalk. Teletalk will distribute 400,000 (4lacs) 3G-enabled SIMs’ for the capital Dhaka primarily. 3G is supposed to open new windows for mobile†¦show more content†¦And the total number of internet subscribers has reached 29415.693 thousand at the end of July 2012 (http://www.btrc.gov.bd). Now-a-days students all over the world are â€Å"digital natives†. They are growing up in a decidedly digital world. Digital learning educates students using the same technology they use for communication and entertainment outside of school. Also the teachers are very much engage with technology. They provide their class materials through internet. Many studies (Attewell, 2005; Murat et al, 2008) have already shown that mobile technologies have considerable potential to enhance teaching and learning across all education sectors. Their impact on student behavior, enthusiasm, motivation and progress is well documented, especially in some conventional schools in the UK (Cook et al. 2007). The National Training and Simulation Association and the U.S. Department of Education studied that, technology based instruction can reduce the time and students take to reach a learning objective by 30 to 80 percent. 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Personal Narrative My Life Choices - 895 Words

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Film Viewing Experience Online Vs. - 984 Words

aAria Hamzei CTVA 100 Lindy Leong Tuesday, December 8, 2015 Film Viewing Experience: Online Vs. in Cinema Changes are the most stable thing in this world. They touch everything and everyone. Comparable to water they can bring devastation and destruction of everything that seems to be solid as well as bring back to life and prosperity hopeless and forsaken deserts. Being influenced by technological, social and cultural development cinematography is not an exception from this rule. Thus, numerous times representatives of film industry have predicted the inevitable end of cinema. For instance, appearance of VHS has seriously and dramatically influenced cinema. However, like a true sea wolf it survived detrimental and savage storm.†¦show more content†¦First of all, in order to comprehend my thoughts about film experience one should briefly be acquainted with film summary of In the Heart of the Sea. This film is based on non-fiction book written by Nathaniel Philbrick which portrays causes and aftermath of shipwreck of whaling ship Essex in 1820. Inspired by this event Herman Melville decides to investigate more about that mythical sperm whale which broke not only ship but also lives of whaling ship crew. Thus, skillfully using sea scenery the story begins to unfold. It is obvious that in Life of Pi and In the Heart of the Sea main theme is man`s struggle with nature. With this in mind the first major and the most obvious difference in watching film in cinema is huge screen with powerful sound support which serves as film conveying tool and technique. The enormous sizes of cinema screen captures viewer`s eye totally, thus helping one to merge more deeply into the film. Also, sound support surrounds and plays with viewer`s senses. For example, when ship Essex swam in calm waters of the sea I could feel the atmosphere of peaceful sea voyage and on the contrary when they got into t he storm I was pushed into the wrath of the sea. I was not an observer of terrible sea disaster on the contrary I lived it through. Notably that my cinema neighbors felt the same mixture of feelings that indicates theirs as well as mine participation

The Research Proposal Policy Convergence Patterns and Output Volatili

Question: Write the research proposal which has been approved for which will: Explain the rationale for the research (i.e. why it is worth doing); State the aims and objectives of the research; Provide examples of relevant theories and concepts you intend to include in the literature review; Explain the methodology you intend to use in your research; Explain the specific research techniques which you intend to use (e.g. questionnaire, interviews, case study etc.). Give your reasons why you think that the chosen technique(s) is (are) appropriate for this project; Discuss what data will be collected (e.g. consider whether data is primary or secondary; qualitative or quantitative etc.); Explain how the data will be interpreted; Discuss whether the findings will have validity, reliability and generalisability Discuss any potential difficulties which might arise in relation to this research and explain how you might deal with these difficulties. Answer: Introduction According to Duca and Peltonen (2013), financial stability is defined as the ability to provide assistance and improve the economic activities, risk management and alleviate the risk factors. On an added notion the financial stability is a continuous process that changes continuously over time and is steady with the various combinations of the elements that constitute finance. A sufficiently stable political and social agreement is required in order to establish financial stability. The strong financial system is less vulnerable to the risks that a financial crisis will emerge when the economy is experiencing a several disturbances from the economic front. The economy will also be able to face the financial crisis efficiently with its flexibility if there arise any such situation (Rey 2015). In several cases, reforms are necessary, but the requirement of time for their implementation varies depending on the nature and the proper sequencing needs. The research proposal will solely focus on evaluating the financial stability issues in the emerging markets and developing economies. The proposal will also throw light on the five key factors of the financial stability that are necessary for the emerging markets and developing economies. Over the next sections, the entire plan for the proposed research is described. Rationale of the research Broad rationale of the research is to evaluate the financial stability of the emerging economies and developing economies. According to Claessens and Yurtoglu (2013), this is an alarming issue as the post crisis financial reform recognized only the crisis in the advanced economies therefore; the financial stability of the emerging market and developing economies is needed to be evaluated. The emerging markets are defined as the countries, which have industrialized recently, however, have not achieved the status of a first world country. These economies exhibit an outstanding rate of growth in its developing counterparts. Individual investors if want to invest in the emerging economies they can buy into the emerging markets or the global funds. Therefore, it is necessary to analyze the financial stability of the emerging markets, and thereby determine the ability of the economy to mitigate the financial risk. This will also help the researcher to determine the financial vulnerability of the economy as well. Nowadays, all the foreign investors are interested in investing their resources in the economies hat have not been saturated yet (Peltonen et al. 2012). Thus, the emerging economies and the developing economies with their substantial economic growth and prosperous future prospects are a very lucrative option in front of the investors for investment. Therefore, it is also essential to analyze the financial stability of the emerging markets and developing economies. The significance of the study is to determine the key concepts of the financial stability. It will also determine the effectiveness of the policies and measures required to establish and retain the financial stability. Aims of the research The researcher mainly aims at evaluating the financial stability of the emerging markets and developing economies. The World Economic Outlook and IMF have performed the classification of the countries; these countries differ from the others based on their size, productivity, level of development and the other factors that are the constituents of the financial system. Therefore, the researchers aim is to shed light on the financial stability of the country and evaluate its role in determining the situational impact of the emerging markets and developing economies in the financial world. Objectives of the research The objective of the research can be stated as follows, To determine the key issues, those are associated with the concept of financial stability. To determine the factors that give rise to the financial instability in emerging markets and developing economies To determine the characteristics of the perfect financial system To design strategies for promoting the perfect financial system in emerging markets and developing economies Research Questions Based on the research objectives, here is the list of research questions that the researcher will try to answer with the help of this study. What are the key factors that are associated with the concept of financial stability? What are the underlying factors that give rise to financial instability in emerging and developing countries? What are the characteristics of a robust financial system? How strategies can be designed, in order to promote a robust financial system in emerging and developing countries? Research Hypothesis: H1: The financial stability has significant impact on the emerging markets and developing economies substantially. H2: The financial stability has no significant impact on the emerging markets and developing economies substantially. Literature review Financial Stability According to Mirzaei et al. (2013), financial stability in the emerging markets and developing economies has become significant as these are becoming the most important engine for growth of the global economy and thereby has contributed significantly in stabilizing the global financial crisis. The five key stability issues that are concerned with the emerging economies and developing economies are selected on the basis of their materiality and importance (De Bock and Demyanets 2012). This has also been done keeping in mind the implication of these issues in the regulatory, supervisory and other financial sectors. The first and foremost issue that is associated with the emerging economies and developing economies (EMDE) is the implementation of the international financial standards. According to Burger et al. (2012), most of the emerging markets and developing economies have enhanced and strengthened their banking sector along with the securities regulation qualities and the insurance sector over the past few years and thereby making them eligible to stand the adverse effects of global financial crisis. The main challenges that the emerging markets and developing economies face are the constrained supervisory capacity, incompetent legal framework and the ability of the economies to meet the requirement of supervising the activity of the conglomerates. Moreover, the continuous process of adoption of the international standard is also a challenge that the EMDEs face. Burger et al. (2012) pointed out that, there are countries in which the foreign banks play an important role in the economy. There is a deep-rooted conflict of interest between the home and the host country, there may be lack of supervisory activities on the cooperation and sharing of information and the complicate assessment of risk and this lack may arise only because of the jurisdictional boundaries. In accordance with the problem, some of the emerging economies and developing countries along with some advanced economies may require intervention of the foreign banks as subsidiaries and sometimes imply certain precautionary measures to protect the interest of the stakeholders. Again, Kumbirai and Webb (2013) stated that the small scale non-bank lending and depository institutions in the EMDEs play a significantly important role. Therefore, with the expansion of this sector, it is becoming more complicated and interrelated with the rest of the financial system. This extensive increase in the growth rate, accompanied by the worsening of asset quality may potentially put an adverse effect on the financial stability of the emerging markets and developing economies. Aizenman and Ito (2012) pointed out that there is another factor is also associated with the financial stability of the emerging markets and developing economies that is the instability of the nominal exchange rates. This when associated with the sizeable capital flows will give rise to substantial risk associated with foreign exchange. These risks can be seen prominently in the emerging markets and developing economies, as these economies possess a potentially small domestic financial market and significant conversion of the currencies into dollar. The capital markets according to ÄŒihk et al. (2012), in the emerging markets and developing economies are basically superficial and are expected to react drastically when faced with sudden movement in the price level. Therefore, there is a need to develop the domestic investor base and necessary measures to address the issues related with the market liquidity. Sources of instability The macroeconomic instability affecting the emerging market economies along with the mature industrialized economies are subject to serious issues in the financial segment. The first and foremost source of financial instability is the Macroeconomic Instability in the economy (Minoiu and Reyes 2013). This means that when there is high variability in the rate of inflation and prevalence of the high inflation rate accompanied by unsustainable fiscal positioning is the main and basic source of the financial instability that are faced by the banks and the other financial institutions. However, the financial institutions have the capability to hedge against the volatility of their own portfolio, the risk can hedged in aggregate. When the economy possesses non-neutral tax systems or incompetent market then an incidence of inflation will make the economy more vulnerable. However, Aizenman et al. (2013) argued that the financial institutions and the banks are efficient enough to adapt the inflation rather a high rate of inflation as well in order to keep up their profitability. For example, banks can survive a high rate of inflation by indexing the lending rates and shifting into the assets whose prices have resulted the inflation such as foreign exchange. Liberalization is on the other hand provides certain advantages, such as increases the opportunities to facilitate the adverse effects of real shocks. As well as it also induces competition and efficiency in the financial sector of the economy (Butler 2012). Therefore, the financial liberalization more precisely the capital account liberalization plays a substantially important role in stabilizing the economy financially. During the transition period, the financial liberalization can help the economy to mitigate the financial instability by raising the credit exposure and the risk associated with foreign exchange. The fiscal policy can affect the financial system directly by affecting the macroeconomic stability of the economy. That is the fiscal sustainability and the capability of the fiscal policy to react flexibly in response to the macroeconomic shocks. The choice of the fiscal policy also affects the fiscal stability of an economy as tax treatment on the part of the financial institutions is involved over there (Lane 2013). A lack of reliable legal infrastructure and prevalence of imperfect information may result in the development of incompetent financial markets. If these markets were not present in the economy, the banks would have faced with a narrow range of opportunities to invest in. The financing sources will then make them more sensitive to the financial shocks. Characteristics of a perfect financial system The determination of the features of a perfect financial system depends on the three basic factors. These factors are providing and retaining the perfect financial incentives for the financial actors, creation of the appropriate information dependent on the financial actors and finally equipping the institutions or the individuals with necessary capabilities so that they can respond effectively and efficiently to the market incentives and also use the information efficiently. As stated by Islam et al. (2013) the use of appropriate incentives is necessary to ensure that the managers, investors, creditors and owners while tracking down their own interests, will pay attention in the social effects of their actions and will take necessary precautionary steps in order to mitigate the risk. If this is needed to be, the case the private investors should try to reap off the entire benefit of the financial gains and bear the cost completely and the associate risk as well which are associated with their financial decisions. The markets should also be efficient so that they can exercise the appropriate policy measures in accordance with their requirements. Therefore, as pointed out by Asongu (2014) the stakeholders should also be allotted with the power so that they can reward or penalize the investors for their success or failures. Financial decisions in order to be effective, it is necessary to have perfect access to reliable and relevant information and that too in proper time. This will help to establish efficient discipline in the market, perfect corporate governance and effective addressing of the supervisory misunderstandings. According to Bonin et al. (2014) the individuals or the institutions should also possess the capabilities to take and implement the exact financial decisions. To do so, the individuals or the investors should possess the capability to res[pond effectively to the incentives and information. Therefore, there is a dire need of reliability so that the transactions can be carried out in an effective and efficient manner as well as on the scheduled time. Design of strategies for promoting perfect financial system In order to establish financial stability the emerging markets and developing economies should further design certain strategies. This may include the enhancement of the independence of the supervisory activities, resources and the capacity of the economy as well (Cecchetti and Kharroubi 2012). The resource and capacity of the economy can be strengthened by adjusting the potential frameworks so that they become able to depict the growth rate and the financial risk that may arise from the non-bank financial lending and depository organizations. If the management of the foreign exchange risk is strengthened, a broader investor base will be created domestically. This will in turn help the economy to accrue precautionary measures in both domestic and international level and ensure liquidity in the capital market. According to Beck et al. (2013), the international community should inform the emerging markets and developing economies about the appropriate speed and consistency of the adaptation of the Basel II/III framework in the emerging market and developing economies. Particularly the member countries of the G20, with more integrated financial system has adapted this strategy, the timeframe for the application of this strategy is another important factor that should be kept in mind. In the case of the large international banks the home supervisors should provide host supervisors, this is important as these banks play a significantly essential in the home jurisdiction. The supervision can be provided by conveying the important information about the parent bank to the host with the help of management groups (Grifoni and Messy 2012). Moreover, According to Cecchetti and Kharroubi (2012) development of an international harmony between the basic elements of the robust financial system is necessary with the help of the Group of Ten and of emerging markets and developing economies. The market channels and the market disciplines should be utilized in a proper way in order to provide incentives for sound supervisory systems. There should be substantial promotional activities undertaken by the international institutions like IMF, World Bank and the other regional banks. The promotional activity will purely focus on the incentives that may arise out of implementation of the proper principles and practices (Grifoni and Messy 2012). Implementing the following strategies or designing new strategies in accordance with the requirement will help the emerging market and developing economies to establish and retain financial stability. Therefore, the evaluation of the financial stability of the emerging markets and developing economies depicts that these economies play a vital role in the rate of growth of the global economy. Moreover, the strategies generated and recommended are well efficient to cope up with the current problems as faced by the companies. Conceptual framework Figure: Conceptual Framework (Source: Created by Researcher) Research Design and Methodology Type of Investigation The researcher here will use the descriptive type of investigation method. As the research objectives and questions are clear, therefore in accordance to the convenience of the research as the research questions were designed well before the beginning of the research it is convenient to use the descriptive method of research. If the descriptive type of investigation is appropriate for this type of research activities and thereby it can handle the problem of the research in accordance with different perspectives such as why, when and what (Hesse-Biber, 2012). Research Philosophy There are mainly two types of research philosophies namely, interpretivism and positivism (Gummerson, 2012. The positivism philosophy of research is generally concerned about addressing the research related problems in accordance with the real facts that are available after being identified and observed at an earlier stage. This research philosophy is one of the most effective an deficient tool for performing the analysis of the data available in order to ensure that the research problems are addressed effective with the help of the real facts and original evidences. In the case of this particular study the philosophy of interpretivism is followed, because the evaluation of the financial stability in the emerging markets and developing economies is based on a particular situation or certain perception of the people about the facts. Research Approach: According to Crouch and Pearce (2012), the deductive approach of the research can be characterized by constructing a hypothesis depending on the preexisting theories and thereby determining the research strategy in order to verify the hypothesis. The deductive approach of the research can be explained with the help of the research hypothesis that is constructed with the help of the propositions of the theory. The deductive approach can also be defined as the approach that is focused on deducing the results with the help of the propositions (Crowther and Lancaster, 2012). Another research approach is the inductive research approach, the main difference between the inductive and deductive research approach is that, the deductive approach is concerned with testing the theories and the inductive theory is concerned with developing new theories. The researcher here will choose the inductive approach of research so as to get the benefits of designing new concepts and theories. According to Creswell (2012), with the help of the inductive research approach, the researcher will be able to collect data from different sources and this will help to enhance the knowledge of the researcher about the topic. Accessibility Issues According to Dul and Hak (2012), the topic is the financial stability of developing economics is an important area of research. Therefore, the secondary research on this topic would have to include sufficient secondary data for completing the assignment with an in-depth data analysis. However, during the collection of data, there would be some accessibility issues related to the data collection. As the financial stability is a key research topic, the recent research data would not be accessible from the online sites without payment (Bernard 2012). On other hand, the topic is new and the data source is limited. For collecting more data on this topic would need more time, but the time is limited. Ethical Considerations According to Bernard (2012), the research should be done following the ethical considerations in the national rules for enhancing the rate of success of the research. In this context, the Data collection Act 1998 would be followed. All the data collected would be from authenticated sources (Denzin and Lincoln, 2012). All the sources would be verified through valid tools for eliminating any kind of ethical issues from the research outcomes. No one will be affected physically or emotionally during the research. The data that will be used in this research would be ethically and legally accessible. The data analysis will be done in authentic process for gaining expected outcomes. All the data used in the data would be cited in an ethical ways (Bergh and Ketchen 2012). The process of data collection and analysis will be transparent enough to be understood by all. Data collection method The research is a secondary study; therefore the data collection method would be secondary through the use of secondary resources. The secondary data are the data those are the results of other authors research and these are used in the research for analyzing the primary data and enhancing the efficiency of the research. The secondary data for this research would be collected from the updated and valid secondary resources including books, journals, newspaper articles and authentic websites (Bergh and Ketchen 2012). The government websites would be preferred for ensuring the authenticity of the research. Data Analysis Plan The research is a secondary research, therefore, the data analysis method will be used that would support the secondary research. The thematic analysis will be used in this research, as it is done by the comparison and analysis of the data collected from the secondary resources with the pre-existing theories through the establishment of different themes (Bergh and Ketchen 2012). It will help to form a systematic structure of the analysis process based on which the analysis will be done and according to the results found specific recommendation would be made. Research Limitation After assuring the presence of appropriate resources for the research in a systematic framework, the work will be started but there would be some limitations related to the research. The major research limitation would be the time constrain and amount of data. Time is a limited, therefore, it is a major constrain for gathering huge amount of data for the research. On the other hand, due to the accessibility of secondary data, sufficient amount of data would not be collected, more data might enhance the efficiency of the research. Proposed Structure of the Dissertation: The researcher will follow a specific and consistent structure while conducting the study regarding the dissertation. The researcher has provided the proposed structure for the dissertation below, Figure 2: Dissertation Structure (Source: Created by Researcher) Time Frame (Refer to Appendix-I) The researcher will try to complete the entire research work within a stipulated time frame. As the researcher is faced with a limitation of time, therefore the researcher plans to finish the work within approximately seven weeks. The researcher will also take care of the fact that all the tasks are performed effectively and efficiently and are allocated with proper amount of time required to perform them. The time plan is provided in the appendix, where the researcher have stated the requirement of time for each specific tasks. Reference List Aizenman, J. and Ito, H., 2012. Trilemma policy convergence patterns and output volatility. The North American Journal of Economics and Finance, 23(3), pp.269-285. Aizenman, J., Chinn, M.D. and Ito, H., 2013. The impossible trinity hypothesis in an era of global imbalances: measurement and testing. Review of International Economics, 21(3), pp.447-458. Asongu, S., 2014. Financial development dynamic thresholds of financial globalization: evidence from Africa. Journal of Economic Studies, 41(2), pp.166-195. Beck, T., De Jonghe, O. and Schepens, G., 2013. Bank competition and stability: cross-country heterogeneity. Journal of financial Intermediation, 22(2), pp.218-244. Bergh, D. and Ketchen, D. J. 2012 Research methodology in Strategy and Management, 1st ed. Bingley: Emerald Group Publishing Ltd Bernard, H. R. 2012 Research Methods in Anthropology: Qualitative and Quantitative Approaches. 5th ed. Plymouth: Alta Mira Press. Bonin, J., Hasan, I. and Wachtel, P., 2014. Banking in transition countries. Burger, J.D., Warnock, F.E. and Warnock, V.C., 2012. Emerging local currency bond markets. Financial Analysts Journal, 68(4), pp.73-93. Butler, K.C., 2012. Multinational finance: evaluating opportunities, costs, and risks of operations (Vol. 729). John Wiley Sons. Cecchetti, S.G. and Kharroubi, E., 2012. Reassessing the impact of finance on growth. ÄŒihk, M., Demirg-Kunt, A., Feyen, E. and Levine, R., 2012. Benchmarking financial systems around the world. World Bank Policy Research Working Paper, (6175). Claessens, S. and Yurtoglu, B.B., 2013. Corporate governance in emerging markets: A survey. Emerging markets review, 15, pp.1-33. Creswell, J. W. 2012. Research design: Qualitative, quantitative, and mixed methods Crouch, C. and Pearce, J. 2012 Doing Research in Design - Page 68, 2nd ed. London: Bloomsbury Publishing Plc. Crowther, D. and Lancaster, G. 2012 Research Methods, 2nd ed. London: Routledge. De Bock, R. and Demyanets, M.A., 2012. Bank asset quality in emerging markets: Determinants and spillovers (No. 12-71). International Monetary Fund. Denzin, N. K. and Lincoln, Y. S. 2012 The SAGE Handbook of Qualitative Research. Page 271, 4th ed. London: Sage Publications. Duca, M.L. and Peltonen, T.A., 2013. Assessing systemic risks and predicting systemic events. Journal of Banking Finance, 37(7), pp.2183-2195. Dul, J. and Hak, T. (2012) Case Study Methodology in Business Research, 3rd ed. Oxford: Elsevier Grifoni, A. and Messy, F.A., 2012. Current status of national strategies for financial education: A comparative analysis and relevant practices. OECD Working Papers on Finance, Insurance and Private Pensions, (16), p.1. Gummerson, E. 2012 Qualitative methods in management research, 5th ed. Thousand Oaks, Calif.: Sage Hesse-Biber, S. N (2010) Mixed Methods Research: Merging Theory With Practice, 3ed ed. New York: Guilford Publications Islam, F., Shahbaz, M., Ahmed, A.U. and Alam, M.M., 2013. Financial development and energy consumption nexus in Malaysia: a multivariate time series analysis. Economic Modelling, 30, pp.435-441. Kumbirai, M. and Webb, R., 2013. A financial ratio analysis of commercial bank performance in South Africa. African Review of Economics and Finance, 2(1), pp.30-53. Lane, P.R., 2013. Financial globalisation and the crisis. Open Economies Review, 24(3), pp.555-580. Minoiu, C. and Reyes, J.A., 2013. A network analysis of global banking: 19782010. Journal of Financial Stability, 9(2), pp.168-184. Mirzaei, A., Moore, T. and Liu, G., 2013. Does market structure matter on banks profitability and stability? Emerging vs. advanced economies. Journal of Banking Finance, 37(8), pp.2920-2937. Peltonen, T.A., Sousa, R.M. and Vansteenkiste, I.S., 2012. Wealth effects in emerging market economies. International Review of Economics Finance, 24, pp.155-166. Rey, H., 2015. Dilemma not trilemma: the global financial cycle and monetary policy independence (No. w21162). National Bureau of Economic Research.