Music Appreciation Test 1 Essay Example

Music Appreciation Test 1 Essay Example Music Appreciation Test 1 Paper Music Appreciation Test 1 Paper Exposition Topic: Verse In the tune Hallelujah! From Messiah, monophony is utilized to pass on that There is one God The number11 in Didos Lament alludes to Treachery A move starting with one degree of volume then onto the next in Baroque music is called Porch Dynamics the soonest show took their plots from folklore or history Which of the accompanying melodic gadgets isn't utilized in the First development of Bachs Cantata no. 140 wachet auf (sleepers alert) recitative the surmised dates of the Baroque time frame were 1600-1750 which of the accompanying best portrays socio-political arrangement of the Baroque Era? Total Monarchy the prevailing fondness utilized in the melody Hallelujah! From Messiah is best named Grandness covering sections of the subject in a fugue are known as a Stretto The gathering of early Baroque author, craftsmen, and performers whose point was to restore the melodic show of old Greece known as The Florentine Camerata In the Chorus Hallelujah! from the Messiah, the realm of this world appeared differently in relation to the realm of our master is noteworthy in light of the fact that - utilizes terraced elements to show which realm is progressively significant - utilizes word painting to speak to these realms - utilizes an extraordinary melodic style to speak to that one of the realms presently administers the other The tenet of the Affections expresses that A whole piece or enormous area of a piece should just consider fondness short, repeating instrumental entry, found in the florid concerto is known as a Ritornello An entertainer of uncommon specialized capacity is alluded to as a virtuoso In the Baroque Era, an arranger would be well on the way to utilize the style of to set sincerely huge parts of a vocal performance Aria the fundamental subject of a fugue is known as the Subject In Bachs Cantata no. 140, Wachet auf (Sleepers, Awake), the chorale tune is heard set against a countermelody in which development? development 4 George Frideric Handel was viewed as an ace of the(genre) Drama Which of the accompanying authors was conceived in Germany, made a trip to Italy to examine show, yet spent a lot of his/her profession in England Handel the type of the aria segment of Didos Lament from Purcells Dido and Aeneas is best depicted as Ostinato Aria A segment of a fugue wherein the primary topic isn't heard is called an scene the initial development of Spring (Primavera) from The Four Seasons is in structure Ritornello the bigger gathering of instruments in a Baroque concerto grosso is known as a. Pipieno or Tutti the florid arranger who was additionally a prestigious vocalist was Barbara Strozzi the volume changes dependent on the performing powers utilized (delicate, medium, uproarious) without inconspicuous degrees between levels in ornate music are known as terraced dynamic which class is best portrayed as a short multi development work for vocalists, theme and instrumentalists dependent on a book of either holy or mainstream nature Cantata explicit, short melodic thoughts might be utilized to animate explicit feelings is known as The Doctrine of Figures A will be a florid congregational psalm of the German Lutheran Church. chorale In the chorale Hallelujah! from Messiah, standard is utilized to speak to endlessness the Florentine Cameratas thoughts on music drove straightforwardly toward the advancement of Show the type of Handels Rejoice Greatly! is best portrayed as da capo during the Baroque time frame the expressed that there ought to be no quick, outrageous changes of feeling in a bit of music Principle of Affections a sort of execution bunch utilized in most Baroque music is the Basso Continuo which two instruments would have been well on the way to play the basso continuo in the extravagant zone? Cello and harpsichord the content of a show is known as the Libbretto the quantity of players expected to play out a florid basso continuo is two the Water Music by Handel is best depicted as a (type) suite the initial development of Bachs cantata no. 140, Wachet auf (sleepers, alert) is best depicted as(form/class) Chorale rhapsody the Baroque artist who was bizarre for being admitted to an institute of scholarly people was Barbara Strozzi what alludes to practice of breaking harmonies into independent notes to drag out the sound Style Brise the performance gathering of instruments in a concerto grosso is called concertino another term for ground bass is basso ostinato on which epic sonnet did nahum tate base the lyrics for Purcells drama Dido and Aeneas? Virgils Aeneid What number of players are important to accurately play out a trio sonata four 2 play bass continuo - 1 play bass - 1 play song the chorale is a sort of psalm tune made by Martin Luther Melodic pictorialization of words from a book is known as word painting the bigger gathering of instruments in a Baroque concerto grosso plays the Ritornello the best local English writer of the elaborate period was Henry Purcell chorale tunes were adjusted from Gregorian serenade mainstream workmanship music the is a polyphonic structure wherein at least one subjects are created in imitative contradiction Fugue Bachs last show of contrapuntal dominance was the. specialty of fugue the rococo time frame saw another style of music, which highlighted a solitary vocal song with backup known as Monody the philosophical reason for the Doctrine of Affection was the possibility of the intensity of music to impact the circulatory framework the propensity to esteem the abstract, enthusiastic, and euphoric is know as Dionysian A will be a virtuosic solo section in the way of an ad lib. cadenza the propensity to esteem reason, the target, a request is best called Apollonian who is best seen as the primary ace of show? monteverdi Dido sings her popular mourn in purcells show Dido and Aeneas not long previously. she kicks the bucket the term ornate presumably gets from the importance deformed pearl the most mainstream console instruments of the rococo period were the Organ and Harpsichord the principal development of an ornate concerto is frequently founded on strategy or structure ritornello a multi development work dependent on the restriction of one player against a bigger gathering is a. solo concerto male artist who was fixed during childhood to safeguard his high voice was a castrato which of coming up next is a lot of forty-eight introductions and fugues by Bach The Well Tempered Clavier J.S. Bach was generally acclaimed in his day as an entertainer on the Organ Melodic style described by numerous notes sung to a solitary book syllable is called Melismatic the term accompagnato (instead of secco) portrays recitative in which the entire ensemble goes with An instrumental entry that repeats over and over, as a hold back in an aria, is known as a. ritornello which of the accompanying pieces is a case of program music Spring from the Four Seasons by Vivaldi which of coming up next is well on the way to be a syllabic in style? recitative the initial segment of a fugue wherein the fundamental subject is heard is called an composition the harpsichord is unique in relation to the piano in light of the fact that strings are culled as opposed to pounded a hornpipe is an english move a short expression rehashed again and again in the bass is likewise called a basso ostinato or ground bass which was not a supported console instrument of the Baroque period? the piano vivacious, driving beat that doesn't ease up is known as the. moto perpetuo an operatic tune in the structure ABA, which takes into consideration the soloist to decorate the last segment is known as a. da capo aria what is a term showing a cleanse of the feelings? purge drama is best comprehended as a dionysian amusement a - was a sort of english privileged diversion joining music, verse, and move masque vivaldi composed his concertos for the entertainers at the ospedale della pieta who were juvenile young ladies a rehashing song, for the most part in the bass, all through a bit of music is known as a basso ostinato what number of voices or individual lines are there in J.S. Bachs contrapunctus I from the specialty of fugue? four mourets rondeau is best viewed as a (kind) development from a set-up of moves the contrapuntal gadget that presents the subject spelled from end to starting (in reverse) is known as retrograde the contrapuntal gadget that presents the subject spelled from topsy turvy is known as. reversal what are the melodic figures or case of word painting utilized by Handel in Rejoice Greatly high note on yell melismas long notes on harmony huge spans on significantly In the melody Hallelujah! from Messiah, The realm of this world appeared differently in relation to the Kingdom of our Lord is noteworthy in light of the fact that - utilizes terraced elements to show which realm is progressively significant - utilizes word painting to speak to these realms - utilizes an exceptional melodic style to speak to that one of the realms presently runs the other what are ostinato types of the florid period - basso ostinato - passacaglia - ground bass - chaconne what positions bached hold during his lifetime - cantor of St. Thomass Church in Leipzig - court organist and chamber performer to duke of weimar - court performer to the sovereign of Anhalt-Cothem What are gadgets utilized in Didos Lament - chromatic basso ostinato to represent sorrow or grieving - melodic drop on laid in earth to depict internment - rehashed notes on recall me! to

Nora Sakari - Case Assignment Example | Topics and Well Written Essays - 750 words

Nora Sakari - Case - Assignment Example Attributable to the littler size of Sakari, it would extend and build its piece of the pie. Nora is probably going to outfit the JV with its drawn out great working alliance with Japanese partners. By going into a JV with Nora, a bigger organization, Sakari would profit by the JV through improved promoting capacity, which would thus strengthen its market position. As it shows up, Sakari, despite the fact that littler, is the best accomplice for Nora in light of the fact that it furnishes Nora with precisely what it needs and each have a working thought of the other in light of the fact that they have been arrangement accomplices. b) Nora-Sakari’s exchanges disappointment can be ascribed to common ignorance about their particular societies. There was solid restriction from arranging camps from both Nora and Sakari. To begin with, Sakari appears to have no trust on Nora’s target of framing the JV as they suggest that Nora would copy their innovation, in this way turning into a significant adversary in the market. Combined with inward legislative issues, the exchange was regarded for disappointment. Second, there was a tussle in regards to the split of value proprietorship. Sakari proposed Equity split of 49% and 51% for Sakari and Nora individually. Despite what might be expected, Nora gave a counter proposition of 30% and 70% value split for Sakari and Nora separately. Third, Sakari suggested that it furnishes the JV with advanced switch essential structure while Nora needed the computerized change fundamental structure to be produced using the JV Company so as to pick up contact with the exchanging innovation. Fourth, Sakari’s proposition for eminence installment was 5% of gross deals while Nora proposed 2% of net deals of the JV. Fifth, there was irregularity on pay rates and advantages proposed by the two organizations. Last, Nora and Sakari couldn't concede to where to determine the exchange impasse. The inability to comprehend varieties in national culture and authoritative legislative issues assumed a colossal job

My Freshman Backpack

My Freshman Backpack Im not new to the blogs (though we do have some wicked bloggers up in the sphere nowadays), but my recent, unintended hiatus might have confused you into thinking that I am. Nope, Im just a sophomore thats going to MIT and that has been doing this bloggin business for a while. Id like you to meet someone new, though This is my gigantic freshman backpack. Made worse by the fact that I dropped five pounds from that bag, since it doesnt have my laptop in it at that pictured moment (Yes, I am a sophomore now. Yes, I havent heard that term since high school.) (Or, actually, since last week, when a friend of mine from Tufts said I had a freshman backpack.) I try to let that roll off my shoulders, burdened as they may be by a brobdingnagian  backpack. See, sometimes, whats practical isnt exactly, well, chic. Case in point: You may have seen this phrased in a different way: If it looks stupid, but it works, it aint stupid. Such is the case with my beloved backpack. I pack my life into my bag each morning, because having my Organic Chemistry textbook on me keeps the small (but significant) downtime between classes a little bit more productive. For those of you who cant conceive of inventing time travel, this might be the next best thing to help keep yourself abreast of your commitments. It seems weird to think that, for some students here, MIT gives you a sink-or-swim style remedial course on study skills. In actuality, not everyone has to study intensely through high school in order to get in. Personally, aside from mandatory homework that was assigned almost daily for my courses, I did no additional reading, no additional practice until it was the night before a big test, when I shored myself up in my room, with pages of notes strewn on my bed and my person, where I dedicated a few hours to poring over everything that I needed to know. For me, that was more than enough. If you did that in high school, and it worked, good for you. But the odds are very good that it wont work out as well any more. Many exams will be scheduled close together, sometimes on the same day. There have definitely been days when Ive had two in one day, and possibly three. Whats worse, one of those exams in your freshman year will likely be in a course you might not like or care much about, since you tend to spend most of your time knocking down GIRs prior to declaring a major. Also, theyre MIT exams, which scales up the difficulty. Of course, this will all matter so much less in your first semester (which is still pass/no record), and to a lesser degree in your second semester (A/B/C/no record), but if you elect to take early sophomore standing by semester two (or once you become a sophomore the regular way), that safety net vanishes. By then, youll have to adapt. So I guess for now, keep these hints in the back of your mind. If your high school / current coursework is particularly challenging, or even if youre currently at MIT and you want to make sure you pass your classes, this might even be of use to you right away: Spread out your studying so youre not just doing everything the night before.  It saves you a lot of stress, since you wont worry about missing a detail or a definition if you allow yourself more time to do it. Being stressed will just make you less able to remember what you are trying to commit to memory, and then youll end up doing worse because of it. Aim for a good nights sleep if theres something important the next day. If youre nodding off during an exam, youll be spending some time and effort just keeping yourself awake, and thatll be inefficient when you end up working. Ask for help! From your TAs, from your professors, from people in S^3 (if it pertains to getting good academic habits down), from your wing-mates, suite-mates and dorm-mates. Dont feel bad about asking upperclassmen, either, as Anna has said before. If you can, spread out your workload, too. This is the approach Im taking. I have some gaps that I can fill in between classes, which, as a sophomore, are bigger than they were in my freshman year. But even as a freshman, if you can spare an hour or two earlier in the day cranking out some pset problems when youre not doing anything else, thats time that you wont be spending much later at an ungodly hour of the night. To me, this also reflects another significant principle: that of working smart, and how its not always the same as working hard. Take breaks. Remember, work smart, dont just work hard. Burning out isnt fun and no amount of mocha frappuchinos can make you entirely happy again :( Be ready to revise your approach and to throw out what isnt working. This is the most important part. In fact, you could call it a corollary to that folksy wisdom that I dispensed above: If its stupid, and it isnt working, then for your purposes, at least its stupid. If what youre doing isnt paying off, try something else. If you dont know what to try, see the third hint and solicit some advice that way. I can even offer a few other pointers on some study habits you can check out my profile here on MIT Admissions to send me an email. And, on a much less serious note (but still a reasonably dang serious note), if you plan on taking 5.12 and/or 5.13 (read: if youre premed, a course 5/10 major, or you just want to learn yourself some organic chemistry), do your back a favor and invest in the e-book version. This book is heavy.

Essay about Aeneid vs. Odyssey - 2161 Words

Aeneid vs. Odyssey Both the Odyssey and the Aeneid share some similarities as epics; both describe the trials of a heroic figure who is the ideal representative of a particular culture. There are even individual scenes in the Aeneid are borrowed from the Odyssey. Yet, why are Odysseus and Aeneas so unlike one another? The answer is that the authors lived in two different worlds, whose values and perceptions varied greatly of a fundamental level. To illustrate, two common ideas woven into the Odyssey are custom and recklessness. Customs were handed down by the gods, and were meant to keep men safe by giving them civilization. When men were reckless (when they flaunted custom and the gods), they invited retribution†¦show more content†¦His eventual passage home has been agreed upon by Zeus, whose will is not subject to error.1 However, in the past Odysseus wounded Polyphemos and in reckless abandon questioned the power of the gods; while he was fleeing from the Cyclops he yelled If I could take your life I would and take your time away, and hurl you down to hell! The god of earthquake could not heal you there!2 For this affront, Poseidon decided to make Odysseus journey home a long and difficult one. The god of the sea sends a storm his way but Odysseus survives with the nereid Inos gift and guidance. After Poseidon departs, he finally reaches Skherias shore with Athenas help. The opening scenes in the Aeneid corresponds to Homers sequence. Aeneas and the Trojans are on their ships, heading to found a new city after many travails. The eventual founding of the city has been agreed upon by Jupiter, and thus the Trojans [d]estiny is unaltered3 regardless of what calamity befalls them. However, Juno is worried that the Trojans descendants will eventually surpass the Greeks, root up her Libyan empire4, and enslave the children of Agamemnon5; so she convinces Aeolus to release to some winds to destroy them now. The winds are so fierce that they need a heap of mountains [laid] upon them and even then [b]ehind the bars they bellow, mightily fretting: the mountain is one immense murmur.6 Aeolus releases them by pushing his spear at theShow MoreRelatedThe Odyssey And Aeneid Vs. Today992 Words   |  4 PagesEssay 1: Hell in The Odyssey/Aeneid vs. Today As humans, we are always imagining what our lives will be like when we die. While the depictions of what hell or heaven may be from the ancient times and now, what has stayed consist is the idea of an afterlife altogether. In The Aeneid, Aeneas has his own version of what the underworld is. Hell is depicted in Book VI of The Aeneid where the Trojans sail back to Sicily where the death of Anchises is marked. Aeneas enters the underworld after meetingRead MoreGreek Mythology And The Mythology850 Words   |  4 Pagesthe epic Aeneid; however, Greek mythology has existed longer. There is no specific evidence proving when Greek mythology actually began; Greek myths are chronicled through Homer’s epics, Iliad and The Odyssey, which seem to have existed at least 700 years prior to when Roman civilization even began (Greek vs Roman). Before these epics were written, Greek myths were passed along through spoken word. Also, when comparing and contrasting the Roman epic Aeneid to Homer’s Iliad and The Odyssey one willRead MoreVirgil vs. Homer in Underworld1569 Words   |  7 Pagesï » ¿ How does Virgil deviate from Homer in the underworld, and why? 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Psychology Is The Scientific Study Of The Mind And Behavior

A Look into Psychology Psychology is known to be the scientific study of the human’s mind and behavior. Psychology is not the study of extraordinary mind activity like paranormal, extrasensory perception (ESP), astrology, nor phrenology. Psychology is theoretically constructed and uses a standard scientific process to discover evidences of that human’s behavior. Psychology also allows an individual to give special assistance to a specific group of children who could have a difficult time in school by determining their IQ. In this essay, I’m going to describe a few details of how Psychology is the science of the mind, what scientific methods that are used in Psychology, and many other things involving Psychology like a person’s intelligence (IQ) and a child’s development milestones. Psychology is important for helping people to development mentally. In the first week of General Psychology we learned, Psychology involves with the study of the human’s behavior and in the mind. Many people get psychology mix-up with Pseudoscience, which is the study of extraordinary mind activities like paranormal, extrasensory perception (ESP), astrology, and phrenology. The difference between Psychology and Pseudoscience is the scientific evidence. Psychology is theoretically constructed and uses a standard scientific process or method to discover evidences of the human’s behavior. Pseudoscience on the other hand, is literally a false body of knowledge to make it seems like its real; it isShow MoreRelatedPsychology Is The Scientific Study Of The Mind And Behavior791 Words   |  4 Pagesinner most feelings. The field of psychology was created to understand human behavior to help make society a better place and people live much easier. Psychology is field with sub fields that differ but the underlining core values are the same. The path to becoming a psychologist is challenging and not easy but most people entering the field feel like it is their callin g. 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Applications of psychology include mentalRead MorePsychology : Cognitive Psychology And Psychology980 Words   |  4 PagesCognitive Psychology 1064 Words 5 Pages Cognitive psychology began around 19th century. Different approaches have been used to trace the roots of psychology. It is also known that cognitive psychology was out numbered by behaviorism but later revived, bringing into being cognitive revolution. The paper discusses cognitive revolution in the history of cognitive psychology as the most influential part in the practice of modern psychology. Introduction A scientific branch of psychology that is concerned

What is DNA Forensic Free Essays

DNA forensics is a scientific analysis of evidence for crime scene investigations and other legal proceedings. To a DNA profile, scientists compare sequence In the genome that varies from person to person. Like a gene, a encoding genetic sequence is more likely to be match between relatives than between unrelated Individuals (Simon, Dickey, Race). We will write a custom essay sample on What is DNA Forensic or any similar topic only for you Order Now For example, In the case of a shooting In a Wild Buffalo Wings parking lot In Bear Delaware, police use forensic to link the two Burns and Evans in the case of a 23 year-old they shot. Burns and Evans met up with the 23 year-old to buy heroin from him. The drug dealer enters the car and was shot by Burns. Victim ran into a store and drove to Christiana Hospital in critical condition. Police went to Burns and Evans home were they searched the vehicle and found blood stains that Burns tried to clean up with bleach. Blood stains were visible at crime scene and matched victim that was shot. Another DNA application is a paternity test, my friend had a baby and the father denied the child. Therefore, the court made the father take a paternity test by swabbing the side of his out. The test came back that he was the father and now he has to pay child support. Lastly, a man In Philadelphia raped a doctor. Surveillance cameras were able to get a picture of the person. Somebody called In with a tip and they went to the person Job. They took blood and hair samples and determines he did Indeed rape the doctor. Population evolution and microbial life is inherited traits through successive generation’s overtime. Some examples would be a butterfly that was very colorful. Prior to this type of style, the butterfly used to be a dull color and it was most reverent. The dull butterfly would hide in flowers to avoid being attacked or eaten. But the pollution generated stained the dull color flowers to a bright color. Eventually the dull color butterfly was attack because it could no longer hide by the flowers, which made It less prevalent and made the bright color butterfly more predominant. This example shows how the population had evolved to a higher adaptive condition. Another example would be mutation, a lizard patterns duplicated over time to other lizards from the same family would be considered gene duplication. Lastly, someone an past DNA trait to one family member after another over time. For example, my mother had me and see pass me her traits/DNA. When I had my kids a passed down some of the traits from my mother and the cycle will continue when they have their kids. Biology and diversity refers to all of earth species. There are millions of species living on earth according to scientist. It is important that earth species continue to thrive and evolve because earth would be in danger if we loss biodiversity. The world ecosystem would collapse, food that humans need to fight off certain diseases and crops and plant would not exist. This would be the case because a population with decreased genetic diversity has less ability to evolve In response to environmental change. Also, the enormous genetic diversity of all the organisms on Earth has great potential benefit for people, too. Many researchers and biotechnology leaders are enthusiastic about the potential that genetic â€Å"prospecting† may also hold the key the spread of a deadly new strain of wheat steam rust, a fungal pathogen that has devastated harvests in eastern Africa and central Asia. At least 75% of the wheat varieties planted worldwide is susceptible to this pathogen, but researchers hope to mind a resistance gene in the wild relatives of wheat (Simon, Dickey, Race). Plants have four stages of evolution. The first stage is bryophytes the lack true roots and leaves. Bryophytes also lack aligning, the wall-hardening material that enables other plants to stand tall. Without liquefied cell walls, bryophytes have weak upright support. The most familiar bryophytes are mosses (Simon, Dickey, Race). The second one is ferns seedless plants. Next is gymnosperm, pine trees also known as cone-bearing trees. Lastly, angiosperms bear seeds. Animals have eight life cycles such as meiosis, fertilization, mitosis, blastula, early gastrula, later gastrula, larva and metamorphosis. Population increases, over a specific period of time, in the number of individuals living in a country or region. Population can change throughout the years due to deaths, births and dispersal of individual from separate populations. When resources are functioning properly, the population will increase dramatically. For example, births, death, and environment are natural factors that can affect population growth. Another example of population growth is population loss due to endangerment or extinction. What is biomass and ecosystem? According to Campbell Essential Biology biomass is a major terrestrial or aquatic life zone, characterized by vegetarian type in terrestrial biomass and the physical environment in aquatic biomass and ecosystem is all the organism in a given area, along with the nonliving (biotic) factors with which they interact; a biological community and its physical environment (Simon, Dickey, Race). The difference between the two is that ecosystem is a community and physical environment where as biomass major terrestrial or aquatic life zone. For example, the ecosystem of northern New York and California have similar plants and animal life, temperature, and amount of sunlight. They combine to make up the tollgate bimbo. Microbial life is short for microbe and it describes many organisms. How to cite What is DNA Forensic, Papers

The Impossible Trinity Essay Example Essay Example

The Impossible Trinity Essay Example Paper The Impossible Trinity Essay Introduction The impossible trinity Stephen Grenville, 26 November 2011 The impossible trinity doctrine – that it is not possible to have a fixed exchange rate, monetary policy autonomy, and open capital markets – still holds powerful sway over policymakers and academia. But it does not reflect reality in East Asian emerging countries. Assets in different currencies and different countries are not close substitutes. Capital flows to emerging countries present serious challenges, but the trinity is not the best framework for analysing the policy options. Capital flows are rarely discussed without a genuflection in the direction of the impossible trinity, also known as the trilemma. For example, Magud et al (2011) write: â€Å". a trinity is always at work. It is not possible to have a fixed (or highly managed) exchange rate, monetary policy autonomy, and open capital markets. † According to the trilemma, a stable exchange rate without capital controls requires domestic and for eign interest rates to be equal. Otherwise, ‘uncovered interest arbitrage’ will force continuous appreciation or depreciation of the currency. As such, nations without capital controls must choose between stabilising the exchange rate (by slaving interest rates to foreign rates) and stabilising the domestic economy (adjusting interests slaved to domestic macro conditions but letting the exchange rate fluctuate). Mechanically, this is enforced – according to trilemma logic – by substantial capital inflows or outflows and the impact of these on the money supply. Why this doesn’t fit the East Asia experience Since the 1997–98 Asian crisis, East Asian countries have clearly run their own independent monetary policies. They have successfully set interest rates to broadly achieve their inflation objectives. As Figure 1 shows, they are most definitely not all slaving their rates to foreign rates. Figure 1. Despite this, their exchange rates have bee n fairly stable. They have managed their primary exchange-rate objective – leaning against the prevailing appreciation pressures in order to maintain international competitiveness (see Figure 2). Remember that according to the classic trilemma, the similarity in exchange-rate movements since the global crisis should have coincided with identical interest rate levels (all equal to, eg, the US nterest rate); comparing Figures 1 and 2, we see this isn’t the case. Figure 2. These attempts to restrain appreciation have involved heavy government intervention, resulting in very large increases in foreign-exchange reserves (Figure 3). This didn’t, however, cause excessive increases in base money (Figure 4), thanks to effective sterilisation by open-market operations and increases in banks’ required reserves. Figure 3. Foreign-exchange reserves as a share of GDP Figure 4. Growth in foreign-exchange reserves (y-axis) and base money (x-axis), Percent, 2001–07 Why doesn’t the trinity apply? The Impossible Trinity Essay Body Paragraphs There are four reasons why the trinity doesn’t work in East Asia. First, if uncovered interest parity held, markets would treat different currencies as close substitutes. An investor would know that the interest differential would be a good guide to where the exchange rate was heading and even small interest differentials would trigger large arbitrage flows. It is now abundantly clear that interest parity offers feeble guidance for the exchange rate–interest rate nexus (see Engel 1996). The parity condition often gets the direction wrong, let alone the quantity (Cavalo 2006), as it does for six of the seven countries illustrated in Figure 5. Figure 5. Annual average interest differential versus change in exchange rate 2001–10 Capital flows responding strongly to interest differentials are the core element in the impossible trinity story. But in practice: Different currencies are not close substitutes; and Capital flows are driven by many other forces besides sh ort-term interest differentials. Second, instead of well-formed views on how different currencies will behave over time, there are fluctuating (sometimes wildly fluctuating) assessments of risk attached to cross-currency holdings. The higher interest rates generally available in emerging countries have encouraged carry trade–type capital inflows, but these were offset by official reserve increases (Figure 6). Figure 6. Net capital flows to emerging countries ($ trillion) Third, the impossible trinity envisages that any intervention to prevent these capital flows from bidding up the exchange rate will be fully reflected in base money increases which will, in turn, thwart the authority’s attempts to set interest rates as desired. But this sort of base money-multiplier view of monetary policy no longer corresponds with the way monetary policy works in practice. These days the authorities set the policy interest rate directly via announcement, while managing liquidity in t he short-term money market through open-market operations, including an effective capacity to sterilise foreign-exchange intervention (Figure 4). In some cases (eg China) excess base money was effectively sterilised through increases in banks’ required reserves. Thus capital flows do not usually prevent the authorities from setting interest rates according to their objectives. Finally, the impossible trinity envisages that any official intervention in foreign-exchange markets will be taking the exchange rate away from its equilibrium, opening up arbitrage opportunities. But suppose, instead, that the authorities have a better understanding (or longer-term view) of where the equilibrium lies, and are managing the exchange rate to maintain it in a band around the equilibrium. East Asian countries have not, in general, prevented some appreciation of their exchange rates, but they have sought, through intervention, to prevent momentum-driven overshooting. Is there a useful softer version of the impossible trinity? Even if the impossible trinity in its pure version does not hold, is it still a useful concept in a looser version, as a reminder that there are interconnections and policy constraints between interest rates, exchange rates, and capital flows? Frankel [2] As they become more closely integrated internationally, foreign investors will increasingly respond to this underlying profitability differential. How can this prospect of sustained higher returns be reconciled with portfolio balance for the foreigners whose initial portfolios are in the lower-return mature economies? This, not the short-term impossible trinity problem, is the policy challenge Conclusion The impossible trinity began as a useful theoretical insight into the nteractions of policy instruments. It is still a useful blackboard reminder that not all policy combinations are possible. The blackboard illustration, however, has been adopted as a doctrinal policy rule. This over-emphasis on a simple thought-experiment may have been because it served to support the arguments for free-floating exchange rates. The argument went like this: capital controls are not workable; if you want to have your own monetary policy, then you have to let your exchange rates float freely. But the impossible trinity was a stylised insight relying on simplified assumptions. The real world was always more complex and nuanced. Of course there is some connection between interest differentials and capital flows. But there are other forces motivating capital flows, and these are much more random and non-optimising than envisaged by the impossible trinity. The fickle changes in risk assessments, mindless herding, and booms and busts in the capital-exporting countries make international capital flows volatile in ways not envisioned in the trinity. Author’s Note: This column is based on ‘The Impossible Trinity and Capital Flows in East Asia’, Asian Development Bank Institute Wo rking Paper 318 November 2011. References Aizenman, J, MD Chinn, and H Ito (2009), â€Å"Surfing the Waves of Globalisation: Asia and Financial Globalisation in the Context of the Trilemma†, Asian Development Bank Working Papers No. 180. Cavalo, M (2006), â€Å"Interest Rates, Carry Trades, and Exchange Rate Movements†, FRBSF Economic Newsletter 2006/31. Engel, C (1996), â€Å"The forward discount anomaly and the risk premium: a survey of recent evidence†, Journal of Empirical Finance (32): 305–319. Frankel, JA (1999), â€Å"No single currency regime is right for all countries or at all times†, Princeton Essays in International Finance 215. Magud, NE, CMReinhart and KSRogoff (2011), â€Å"Capital controls: myth and reality – a portfolio balance†, Peterson Institute Working paper 11-7 1 Except, of course, Hong Kong, with its fixed rate. Singapore is a special case, implementing monetary policy via the exchange rate rather than interest rates. Its capital market is open; it closely manages its exchange rate; and it has an independent monetary policy, achieving its objective of having one of the lowest inflation rates in the world. 2 Some might see this same argument in terms of growth rates. Interest rates will approximate the economy’s growth rate (whether measured in real or nominal terms). Thus the higher prospective growth rates of the emerging countries will be accompanied by higher interest rates. Share on linkedin Share on facebook Share on twitter Share on email More Sharing Services 12 We will write a custom essay sample on The Impossible Trinity Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Impossible Trinity Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Impossible Trinity Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Main Cause of Crime and Poverty in India Essay Example

Main Cause of Crime and Poverty in India Essay Example Main Cause of Crime and Poverty in India Essay Main Cause of Crime and Poverty in India Essay QUESTIONNAIRE 1) What do you think is the main cause of poverty in India? Unemployment Poor parenting skill Lack of free government institutions Urbanization 2) What do you think is the main cause of crime in India among the poor? Poor education support The absence of social control Urbanisation Any other- please specify 3) Do you think crime is more prevalent among the lower social standings or among the higher class? Higher class Lower class 4) Do you think crime is more prevalent among the educated or the uneducated? Educated Uneducated 5) What are the reasons for crime among the educated class? Peer pressure Aggression Low self control Poor supervision by parents 6) If social media is responsible for the incidences of crime. Which of these social media may be a cause of crime? Choose any two from the following responsible for it according to you. Newspapers Television Cinema Internet Social networking sites employment Give free education opportunities Make the law stricter Eradicate quota system for education and Jobs Free vocational training for youth till 12th std 8) Do you think the government is working towards decreasing the number of crimes taking place in India? Yes No Maybe 9) If yes, what two steps do you think the government should take to decrease the number of crimes in India? 10) Do you think the government is working towards eradicating poverty in India? Yes 11) If yes, what two steps do you think the government should take to eradicate poverty in India? Thank you for your co-operation.

The Biggest Sharks in the World

The Biggest Sharks in the World The whale shark holds the title of the worlds biggest shark species. Growing to a length of about 65 feet (the length of about 1 1/2 school buses!) and weighing about 75,000 pounds, this streamlined fish is really a gentle giant.   Some areas frequented by these sharks, such as Ningaloo Reef  in Australia, have become popular tourist destinations because of their swim-with-sharks programs. Whale sharks live  in tropical and warmer temperate waters in the Atlantic, Pacific, and Indian Oceans. In addition to their size, these sharks can be easily recognized by their gorgeous coloration, which is formed from lighter spots and stripes over a gray, blue or brown skin. They also have very wide mouths, which they use to eat tiny prey primarily plankton, crustaceans, and small fish, which are filtered from the water as the shark swims. The second-biggest shark species is the basking shark, which grows to about 40 feet long. These animals are also plankton feeders. They live primarily in temperate ocean waters throughout the world. The Biggest Shark Filmed In summer 2015, a video swept the news, touting it was the biggest shark ever filmed. What many of the news reports failed to mention is the species. There are more than 400 shark species, and they range in size from the 60-foot whale shark to pygmy sharks and lantern sharks that are less than a foot long when fully grown. The biggest shark filmed was actually a white shark, also known as a great white shark. At average lengths of 10 to 15 feet, white sharks are generally much smaller than a whale shark or basking shark.   So, while the 20-foot white shark nicknamed Deep Blue may (or may not) be the largest white shark ever filmed, its by far not the largest shark ever filmed as there is plenty of video footage of much larger whale sharks and their slightly smaller relatives, the basking shark.   The Biggest Shark Ever Caught According to the International Game Fish Association, the largest shark ever caught was a white shark nabbed in  Ceduna, Australia. This shark weighed 2,664 pounds.   Another one of the largest white sharks caught is thought to be a 20-foot shark caught by a trawler about 12 miles off the coast of Prince Edward Island, Canada. The significance of the sharks size was underestimated at the time, and the shark was initially buried. Eventually, a scientist dug it up to investigate it and realized the enormity of the find. The shark was later estimated to have been about 20 years old, meaning it may still have had some growing to do Sources Bateman, D. 2015. Canadian Who Caught Real-Life Jaws Wishes He Hadnt. Toronto Star Newspapers. CBS News. 2015. Giant Great White Shark Caught OFF P.E.I. Was a Teenager. Grenoble, R. 2015. This Is Deep Blue, Probably the Biggest Shark Youve Ever Seen. The Huffington Post.Martins, Carol, and Craig Knickle. 2009.  Whale Shark.  Florida Museum of Natural History Ichthyology Department.

Evaluation of the Current Status of Alitalia Essay

Evaluation of the Current Status of Alitalia - Essay Example Correspondingly, this report intends to examine the prospects of Etihad Airways which has started to examine the possibility to buy a majority/total stake in Alitalia, the Italian struggling airline. Alitalia is a prominent Italian based airline group and one of the leading players in the European airline industry. The group operates under the brand name of Alitalia and offers an assortment of premium services at all levels including the purview of domestic, international and intercontinental destinations. Air One is a subsidiary of Alitalia Group that provides low-cost flights to domestic and international routes. Alitalia is a privately owned group and 75% of its ownership is retained by Italian entrepreneurial and financial world while the remaining 25% is acquired by the biggest European airline, Air France-KLM. The group is also the member of SkyTeam alliance and has opened transatlantic joint venture with Air France KLM and Delta. The group over the years has been able to secure and distinguish its position amid its customers particularly due to its superior service quality, maintenance, and passenger care. The pool of well-trained employees along with effective operational management has established it as the most punctual airline across Europe. At the same time, the extensive and ambitious investment plan to make its fleet modernize has tremendously facilitated it with attaining greater customer confidence and trust. Apart from transportation of passengers, the company also operates in cargo sector. It has been able to meet the customers’ shipping requirements through the effective arrangement of cargo charter flights (Alitalia n.d.). Moreover, it has the most modern fleet of 132 aircraft. The company’s financial health during 2012 was worst affected with increasing loss and augmenting debt. However, amid this sluggish performance, the market share of the group across all routes continued to st ay stable at around 22.6% (Alitalia 2013).

Should Stem Cell Research be Unbound Proposal Example | Topics and Well Written Essays - 4250 words

Should Stem Cell be Unbound - Research Proposal Example Spinal cord injuries and Parkinson's disease are two examples that have been championed by high-profile media personalities (for instance, Christopher Reeve and Michael J. Fox). The Coalition for the Advancement of Medical Research estimates that stem cell research shows promise to develop cures and/or new treatments for 100 million Americans who currently suffer from a wide variety of diseases and disorders. There are several types of issues to consider as we reflect upon stem cell research. ... Many frame the debate about stem cell research around the question of "when life begins," although the issue is not when life begins, but when personhood begins and ends. Human life began millions of years ago when our ancestors reached a stage of evolutionary development that permitted the separate species, Homo sapiens to arise. Human life will end when our species becomes extinct. Stem cell research is a controversial issue in America as, with the present state of technology, the creation of a human embryonic stem cell line requires the destruction of a human embryo. Stem cell debates have motivated and reinvigorated the pro-life movement. There has been a deep and bitter dispute over the conduct of this research; many pro-lifers, for instance, Roman Catholics and conservative Protestants, have opposed this research. According to them, the embryos from which these stem cells are extracted are actually individual entities and have a soul to them. Since the embryos are killed when the stem cells are removed, or stored for long periods of time, long past their viable storage life, pro-lifers view the extraction procedure as murder. In the United States alone, there have been estimates of at least 400,000 such embryos. However, not everyone is opposed to stem cell research. Many groups that even protest it are comfortable with certain forms of cell research. Plent y of experiments and tests have been carried out to determine improved and more efficient ways of saving lives and replacing organs, without having to kill â€Å"pre-embryos.†

Low Cost Model For Long Haul Airlines

Low Cost Model For Long Haul Airlines As most industries reach a stage of maturation, the changing nature of the airline industry is evolving to integrate novel strategies and business models needed to comply with consumer needs. The low-cost airline sector is a model that generated large financial gains but saturation is observed, leading companies to discover new opportunities in the long-haul low-cost market. The article explains the principles behind the idea, justifying the failure of previous attempts and proposing a novel business model that can be adjusted to todays economy. 1. Introduction The airline industry is characterized by instability and unpredictability making it one of the most risky to invest in, succeeded only by the hospitality industry. Due to significant exposure to external factors, the airlines are subject to financial losses and damages, with the most recent being the terrorist attack on the US on September 11th in 2001. The global airline industry suffered greatly and any financial stability plummeted reports show losses of $10 billion only by US airlines in 2002 (Wensveen et al., 2007) In order to adapt with the continuously changing environment, airlines employed a cost-reduction policy by reducing capacity, in-flight amenities and management expenditure. The effectiveness of this method urged many companies to reconstruct their strategy to comply with consumer demand and lifestyle (Taneja, 2005). As a result, passengers were starting to prefer the more cost-effective approach of Low-cost carriers (LCCs) than conventional methods. A form of low-cost travelling had already emerged in the 1970s by Southwest Airlines, who kept low-unit costs by reducing aircraft turn-around time at the gate which inspired current companies follow its business strategy (Bamber, 2009). Today modern development of the strategy lead to a low-cost revolution with LCCs controlling 30 and 40% of the market capacity in the US and UK respectively since 2005 (Taneja, 2005). Due to the success of the model and the inevitable future saturation of the short-haul LCCs, companies focused their interest in converting the same business model for long-haul flights and turning it into a profitable business plan. However the concept of a low-cost long-haul airline is not new but previous attempts have not been successful. The earliest example is Freddie Lakers Skytrain which offered no frills transatlantic flights from London Gatwick to New York with single class tickets costing only  £59 one-way. The competitive pricing from established airlines that ensured after the relaxation of transatlantic market fare regulations, lead to debt accumulation of  £270 million and the company ultimately failed in 1982 (Calder, 2006). This review will examine the issues raised by the entrance of low-cost airlines to the long-haul route market and assess the factors that lead that prevented growth and establishment of such companies. By assessing how the elements of low-cost travelling are transferable to long-haul operations and the sustainability of such projects, solutions to building a successful business model could be found. 2. Other LCCs and proposals Shortly after the demise of Lakers venture, a US based low cost airline named People Express commenced flights from New York to London Gatwick in 1983 and later added Brussels. By providing connecting flights at its Newark hub and charging $3 for checked baggage, the company proceeded to expand from a successful low-cost carrier to offering economical long-haul flights. However, due to over-expansion and management problems the company was terminated in 1987. Recent attempts to adopt the Skytrain model of low-budget travelling include Oasis and Zoom Airlines. Oasis, based in Hong Kong, offered non-stop service between Hong Kong and London Gatwick in 2007, generating huge success due to the low cost of  £75 for one-way flights. Due to growing competition by leading airlines which landed in the more centrally located Heathrow and rapid accumulation of losses due to the unsustainable fares, the company failed just after 18 months. On the other hand, Zoom Airlines which operated between Toronto and several UK airports since 2006, had a longer lifespan but was forced to shut down after outstanding debts and bankruptcy were reported. A variety of ideas and proposals for long-haul travelling were suggested but were unable to raise the necessary finance. One of the most controversial cases is Civair, which was scheduled to start up a low cost flight between Cape Town and London Stansted in March 2004. However in December of that year, 7,400 passengers were left stranded when the company did not have an aircraft for the flight and no alternatives could be funded leading to closure. 2.1 Long-haul vs. short-haul flying Low-cost carriers have inherent differences in various factors when distinguishing between short-haul and long-haul flights. These include crew and security requirements, turn-around times, airport facilities, route authorities and route density. The competitive advantage acquired in short-haul LCCS cannot be transferred to long-haul, low-cost carriers because the only means of being profitable is optimizing aircraft capacity. Theories that could possibly create revenue by using the low-cost, long-haul model fall in two categories: either using a long haul airbus, charging higher baggage fees, buy-in food and beverages and fly to secondary airports or acquiring many cheap long-haul aircrafts with two-class service and secondary airport bases which will conduct multiple flights per week(Wensveen and Leick, 2009). The former theory would only be viable in practice if high volume city pairs could fill all the seats in the aircraft while the latter relies solely on getting cheap aircraft . However before developing hypotheses and specifications, attention should be given on the business side of airline operation. Judging from previous attempts, despite the original promising profits, most companies failed due to improper business planning. 3. Airline business planning and airline failure Every attempt of an airline entering the low-cost, long-haul flight market lead in failure, despite all the positive indications in the beginning. While there are hundreds of reasons leading in an airline failure, several common errors in business planning are shared between all of the cases. 3.1. Inability to maintain competitive advantage A company should be able to establish a sustainable, competitive advantage by analyzing and targeting the correct market while having the ability to compete with other carriers in the long-term. In the case of Skytrain, where Laker Airways entered the market of LCLH market without any competitors, it generated significant gains which were quickly diminished after the introduction of other airlines in the market. Uniqueness of an airlines business concept is important as it sets it apart from the competition otherwise will fail to raise necessary funds. 3.2. Inadequate income growth and profitability In most cases, many airlines business often dont demonstrate income growth and profitability. By displaying unrealistic financial projections in order to sell the business concept, the airline will fail. Bottom line growth is vital for the financial establishment of a company and that growth should be based on valid financial assumptions which can be backed up by quality measurements. 3.3 Incompetent leadership While the importance of a capable management team is underestimated, its one of the most imperative factors I gaining the interest of potential investors, as its believed that an average idea can be made profitable by the correct mindset. In most airlines the management team is overlooked in the business plan and this discourages investors from investing money. On the contrary, a good team is able to highlight any risks involved in the strategic objectives of the company and create a business plan that will ensure growth. A prime example is the introduction of Gordon Bethune as a new Chief Executive Officer of Continental Airlines the company had already filed for bankruptcy but Mr. Bethunes actions reinstated the fading airline into the most thriving carriers(Bethune et al., 1998). 3.4 Limited initial funding Most airlines require large funding throughout their development which cannot be obtained easily and combined with poor business plans lead to untimely failing. Airlines such as Oasis and Zoom were closed due to inadequate funding while competition by other companies was rising (Bradsher, 2008) . Correct estimations of the funding required and also taking into account the money lost during setup and initial operations, will lure investors for money investment as the potential for profitability will be significantly displayed. 3.5. Overexpansion and lacking flexibility Airlines often tend to expand their destination and aircraft base, with the impression that it will increase income revenue. In most of the cases, it was the limiting-step towards failure. Moderate growth and balanced route frequency can prevent overexpansion and sustain optimal gains. Additionally, the ability to compromise and adjust to the changing economical and social environment can subsequently increase the popularity of an airline among passengers. Continuous operation will lead to dependence on financial support from loans or subsidies and eventually bankruptcy. 4. Can the long-haul, low-cost model work? Studies have examined the possibility of the low-cost model integrating in long-haul flight business and clear advantages and disadvantages have been noted. At first, due to the absence of direct substitute for long-haul flights as well as the already competitive prices, there isnt adequate evidences that lower fares can increase demand in the same manner as in short-haul flights. Moreover, secondary airports cannot be used for the landing of large-aircrafts due to size and time limitations and also cost-effectiveness (Maertens, 2010). However, a cost advantage of 20 to 25% is possible if a carrier can offer online booking to reduce distribution costs and only point-to-point services where connective flights to the desired destination can be arranged by the individual passenger. Today, companies such as AirAsia X and Jet Star have managed to find a balance between price and service in order to provide low-cost flight opportunities. 4.1 Jetstar The Australian airline has managed to become one of the most successful start-ups in the recent years. While being a fully owned subsidiary of a legacy carrier, Quantas, is managed and operated separately. After commencing flights in the domestic Australian market in 2004, Jetstar operated its first international flight to from Melbourne to Singapore on December 2010, marking a new era for economical long-haul flights. Their low fares are based on the notion of offering point-to-point routes between Australia, Asia and the Pacific, in order to complement Quantas main international flight schedule. The company also offers choice between two ticket types, economy and premium economy, which various in-flight meals and snacks can be purchased or complimentary, respectively. 4.2 AirAsia X The Malaysian AirAsia which was the pioneer of low-cost carrier operations across Asia introduced the long-haul service AirAsia X in 2007 to provide more options and greater affordability to a wider marketing spectrum. Based in Kuala Lumpur, the worlds biggest low-cost hub, it has covered many destinations in Australia, Europe and Asia. A key principle in order to keep costs low is high frequency of flights and providing point-to-point medium or long haul services. As a true no-frills service it includes lots of seats and passengers purchasing in-flight meals and entertainment. It also offers a premium class which is similar to economy fare of legacy carriers while in June 2010, a US$10 million refurbishment was introduced introducing flat beds in the premium area with a small rise in the ticket fare (Anonymous, 2010). 5. Building an efficient low-cost long haul airline By evaluating the facts and figures of the previously mentioned airlines, Jetstar and AirAsia X, its evident that that reasonably priced long-haul travel can become a reality by utilizing specific cost-effective methods and business strategies. While this increase in long-haul travelling maybe attributed to the expanding economy in Asia (Hooper, 2005) and the rapidly increasing competition among emerging low-cost airlines in the continent, it has been shown that intercontinental travel as demonstrated by AirAsia can be profitable while maintaining low fares. These techniques can also be employed for any up-and-coming LCLH airline in Europe or US, to ensure their development. 5.1. Ensure faster turnaround of aircraft Short-hauls are considered to have more cost-advantage than long-hauls due to landing at secondary and less congested airports which allows higher crew and aircraft utilisation. Long-haul flights usually require more time refuelling and servicing, therefore less rotations can be performed compared to short-hauls. However, by landing at a specifically designated low-cost hub, such as Kuala Lumpur, can minimize refuelling times and costs of servicing while providing adequate support for larger aircrafts. 5.2. No frills services All-economy seating and in-flight food and beverage which can be purchased can aid in the revenue of sales while pre-booked in-flight entertainment such as hand-held devices could be useful in long-haul flights. 5.3. Point-to-point travelling only This method employed in short-haul flights ensures short turnaround times and prevention of time-consuming services which would affect timetables. Modern long-haul airlines could seek interline partners to expand their flight capabilities, similar to the co-operation of the Australian company Jetstar with its partner company Quantas (Jetstar, 2007). 5.4 High density cabins and lower input prices Gains from the long-haul flights will be possible if high seat densities exist which could make up for the low ticket fare, as more passengers equal to increased revenue. Also by importing dual-seating system with premium seats which can be charged at higher prices and have extra amenities, a market for passengers requiring conditions similar to business flights can be created resulting in more profit. New entries in the airline industry are benefited from very low unit aircraft prices in large orders as well as hiring younger and cheaper pilots. Moreover, costs of advertisings and website/call centres can be avoided to cut down expenses, since the low price is a sufficient reason for passengers to choose those companies. 6. Novel business models Because of the limited solutions and benefits on directly developing a low-cost, long-haul airline, new business models have been developed for potential exploitation into a low-cost model. 6.1. Network specialists These companies cater mainly to business passengers and are specifically operated as a corporate shuttle for routes with high-yield. A prime example is PrivatAir, a Geneva-based airline which has survived through contracts with major corporations to transport their employees between locations (Wensveen and Leick, 2009). It offers business class seating on trans-Atlantic flights using several Airbus and Boeing planes. It can also operate as an operator for existing airlines such as Lufthansa and KLM which utilize the company for their business class services in Germany. 6.2. Product specialists Airlines which focus on business and affluent leisure travel and are all-business class, all first class or both. These types of airlines are on par with legacy airline yields and offer premium cabins for long-haul flights. Companies in this market include Eos Airlines, MAXjet Airways, Silverjet and LAvion. While the first three carriers had gone bankrupt, LAvion which seemed promising and was recently acquired by British Airways did not make any profit as well (Lagrorce, 2008). Eos and Maxjet airways both operated between London Stansted and New York JFK using Boeing 757-200 while Silverjet operated between London Luton and Newark as well as Dubai. All three airlines ceased operations in 2008. LAvion operated between Paris Orly and Newark and is currently a subsidiary of British Airways OpenSkies unit. While the original offer of low fares and premium facilities seemed promising, all four companies filed for bankruptcy, citing rising fuel and oil prizes, limited funding resources an d newly formed competition on the specific routes by legacy carriers. While this business problem does not seem to be problematic, adjustments should be made in order to give motives to increase passenger preference. 6.3. Price specialists These airlines mainly adopt lower-costing strategies to compete with existing companies solely on price. This includes the low-cost, long haul flight plan which has been employed by various airlines such as Oasis Hong Kong, Zoom, Jetstar, Viva Macau and AirAsia X. In order to compete with legacy companies, larger aircrafts with high-seating configuration should be used to make profit. With the exception of Oasis and Zoom, which were bankrupt, the rest of the companies flourished with expanding their flight schedule beyond Asia and Australia. The problems leading to failure in the two named companies mainly involve insufficient business planning as discussed in a previous section. However long-term effects of the plan remain to be seen as sustaining low prices can be proven difficult with the current economy. 6.4. Long-haul charter carriers While unit costs for charter carriers is 10-20% more expensive than LCCs (Teckentrup, 2007), their increasing use for long-haul travelling made them an attractive alternative to network airlines, usually for summer destinations. Many European charter companies now target specifically long-haul destinations, such as Corsair which operates an all-economy Boeing 747-400 between Paris and Overseas French territories in the Caribbean; such high density planes are not used on other long-haul international travel by the company. Due to competition and projects bearing no success such as Britannia Airways, which discontinued flights from UK to Australia, charter airline long-haul flights have been restricted to limited time frames and leisure destinations. However, charter flights represent a large percentage of long-haul market and could potentially be exploited beneficially. 7. Sustainability of the low-cost model and future projects As the long-haul market becomes successfully grown and becomes profitable for major carriers again, it is likely that other carriers will be interested to obtain a share of the market. Due to the over-saturation of the low-cost short-haul airline industry in Europe, established LCCs such as Easyjet may utilize point-to-point flights by co-operating with long-haul flight companies to lower prices for distant travelling. Employing new aircraft types such as Airbus A350 and Boeing 787 can fly longer distances offer denser seating that would be possible to fit 800 seats flying between main hubs such as London-New York. Deregulation can also create a potential increase in new services, as many markets are limited to one or two national carriers. As this breaks down, the introduction of new entrants, such as Virgin Atlantic in the India-UK and India-USA markets can spur new competition and lower prices in international travel (Phadnis, 2012). For now, the low-cost, long-haul market appears to be decreasing as one of the pioneers of this sector AirAsia X pulled its European services citing the damaged economy of European countries and exorbitant government taxes affecting its ability to offer low-cost fares (Thomas, 2012). Even Ryanair, which declared that will commence transatlantic flights in 2007, has recently confirmed that long-haul flights are not happening for some years (Olorenshaw and Sturke, 2007). 8. Conclusions The substantial success of certain LCCs has certainly led to the perception of an attractive business model and its implementation is being utilised by various long-haul operators. Established LCCs are reluctant to join the long-haul market due to the dangers present but that is rapidly changing. Experience and expertise gained by short-haul markets can be transcribed successfully in the long-haul operating scheme, which will greatly compensate to the losses that will occur as the markets become saturated with myriads of low-cost carriers. On the other had, traditional airlines are equipped with an array of qualities such as established clientele, reducing economy seat fares to attract new passenger and experience in international flights puts the beginner low-cost carrier in a disadvantageous position. By employing a long haul point-to-point model to promote cross-selling and service integration with more established, traditional companies allow passengers to fly from smaller markets in other regions via LCCs. As with any new business model, achieving cost advantages is not enough to deem it successful. Theres a long history of competitors which offered subsidised low fares to combat new entrants in the long-haul market, leading them to financial difficulties and bankruptcy. Continuous innovation is needed in the evolving air transport market and adjusting to emerging carrier types could be beneficial. Combining a solid business plan which is flexible, manageable and competitive with a long term vision will guarantee a successful transition to the long-haul business.

Country Environment Analysis – Singapore

Country Environment Analysis – Singapore Date: 12/05/2012 Course: BUAD 6500 Prepared For: Dr. Stanford A. Westjohn Prepared By: Emtithal Alhumood, John Baker, Nora Dillon and Yuhong Fu Table of Contents: Page # Part 1 Macro Environment AnalysisAbstract ——————————————————————————————–3 Social Perspective ——————————————————————————–3 Economic Perspective —————————————————————————-5 Political Perspective †”—————————————————————————7 Challenges to Business in Singapore ———————————————————–9 Summation of Macro Environment Analysis ————————————————10 Part 2 Country Environment Analysis ——————————————–12 Country Environment Analysis Abstract —————————————————–12 Scope of the Tourism Industry ——————à ¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ12 Areas of Opportunity and Risk —————————————————————–16Challenges for US Business in Singapore’s Tourism Industry —————————-19 Country Environment Analysis Summation ————————————————–21 Part 1 Macro Environment Analysis Abstract: The country of Singapore enjoys a highly developed and successful free market economy. The first section of this report details the economic, social and political aspects of Singapore from a business perspective. Furthermore, this report will identify and analyze challenges which any business m ust consider upon entry to this growing marketplace. Social Perspective: Geographic Location: Situated in the northern part of the equator, Singapore lies between Indonesia and Malaysia.The island has a huge coastline of 193km. Half of the terrain contains metropolitan areas while reservoirs, open military areas, plantations, and parklands cover 40%. Covering an area of 699 sq. km. , the country is believed to be among the world’s most beautiful nations. Population: As of June 2011, Singapore's population stood at 5. 1 million, making it among the three most densely populated nations in the world (MediaCorp Pte Ltd, 2011). Singapore has a multicultural population with Mandarin, English, Tamil and Malay listed as the country’s four official languages. English is commonly used throughout Malaysia and is often referred to as the national language.Improved healthcare in the country has resulted in reduced infant mortality rate. However, the overall population growth rate i s relatively low at 2% from 2009 to 2010. Immigration is a significant driver of population fluctuation, as local population growth has actually declined in the past decade. Literacy: According to the United Nations Development Programme Report (2011), Singapore has a literacy rate of 94. 7%, which ranks 75th in global literacy by country. Education is regulated and supervised by the Ministry of Education which oversees both private and public schools. All public schools instruct students using the English language and their native tongue (referred to as â€Å"Mother Tongue Language†).According to Wikipedia, education spending typically accounts for 20% of the national annual budget in Singapore. Cultural Values: Singaporeans have a hierarchical history, and for the local population power distance is generally high. Respect for authority and social formalities are highly valued in Singapore’s local culture. Respect for parents, elders, teachers, and employers is held i n high regard. Due to the emphasis on family values, Singapore has developed a collectivist culture which focuses on the betterment of society; as opposed to the individual. Local residents generally express a modest humility when communicating with foreigners; which could be interpreted as â€Å"feminine† in reference to Hofstede’s cultural framework. Art / Music / Food:Held annually, the Singapore Arts Festival is a noteworthy event in the country’s celebration of the arts. The festival integrates visual arts, dance, and theatre. Besides home participants, global artists are also showcased. Today, the Festival is an international event. Additionally, the arts centre has traditional and classical music representation focusing on the four main cultures in the country. Singaporean cuisine signifies ethnic cultural diversity and food is seen as a uniting cultural strand that is fundamental to their national identity. Religion: Due to its strategic position, Singap ore is home to many religions. Once it was declared a port, several ethnicities and nationalities from around the globe immigrated to Singapore. 3% of the population practice Buddhism making it the core faith, 18% are Christians, 15% Muslims and 5% are Hindus. Besides, close to 17% of the populace do not practice any religion as they claim to be free-thinkers (Chong, 2010). Economic Perspective: Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology, pharmaceuticals, and financial services. Since the early 1990’s a focus on globalization has driven Singapore’s economy to new levels of growth and development.  Also you can read about  History of the Culinary Arts.It has signed 13 free trade agreements to encourag e international commerce and it boasts globally competitive tax incentives to draw international investors. Current GDP Breakdown: Singapore’s current GDP falls at $239. 7 billion. GDP per capita is roughly $60,000 which ranks fifth highest in the global community. According to trading economics. com, Singapore experienced an annual GDP growth rate average of 5. 54% between 2007 and 2011. Despite a 1. 5% GDP contraction in the third quarter of 2012, Singapore’s overall GDP is expected to follow historical growth around 5% this year. Export, Import and Trade: Singapore is the 14th largest exporter and the 15th largest importer in the world. According to the WTO, Singapore has the highest trade to GDP ratio in the world at 407. 9%.International trade is essential for Singapore, as it has virtually no natural resources. A large percentage of trade is conducted to meet domestic demand for energy, food, and other necessities. Singapore also regularly engages in trade, where by industries and businesses in the country import raw materials, before refining them for re-export. 47% of Singapore’s exports consist of re-exports. Singapore has relatively few barriers to trade. Trade partners have zero tariff rates applied to their products; other than alcoholic beverages. Some import restrictions exist, which are focused primarily on environmental regulation, health, and public security concerns.The import of rice also requires import licensing in order to ensure food security and price stability. In 2010, Singapore’s exports were valued at $351. 2 billion (USD). The primary export partners include Hong Kong (11. 6% of total exports), Malaysia (11. 5%), US (11. 2 %), Indonesia (9. 7%), China (9. 7%), Japan (4. 6%). Singapore’s imports were valued at $310. 4 billion. The U. S. was Singapore’s primary source of imports (14. 7% of total imports) followed by Malaysia (11. 6%), China (10. 5%), Japan (7. 6%), Indonesia (5. 8%), South Kor ea (5. 7%). Primary Industries: The petroleum and petrochemical industry in Singapore is one of the biggest in the world.Singapore imports oil from other countries before refining it for further use in other countries. Singapore has the third largest oil refinery in the world. The Singapore Petroleum Company (SPC) is also a leading player in the petroleum industry and is engaged in exploration, production, refining and distribution. Manufacturing is another major industry in Singapore. Although Singapore has specialized in digital and electronics manufacturing for the past forty years, the country has diversified into other forms of manufacturing. Thanks to government initiatives and subsidies, biomedical and pharmaceutical manufacturing is seen to be the future for Singapore's industries.Singapore is also a global leader in services, particularly in finance. Singapore’s banking system is considered to be among the strongest in the world. Singapore has the fourth largest fore ign exchange market in the world after London, New York and Tokyo. The Singapore Government Securities is the only Asian market, besides Japan, to be part of the Citigroup World Bond Index. The Singapore Exchange (SGX) was also the first demutualised, integrated securities and derivatives exchange in Asia-Pacific (Wikipedia, 2012). Economic Forecast: From 2011 onwards, Singapore’s GDP growth rate (constant prices, national currency) is expected to grow between the ranges of 4. 008 percent to 5. 162% in the next five years.According to the Ministry of Trade and Industry (MTI) in Singapore, 2012 may see a higher growth rate of 5 to 7% as its primary trade partners continue to recover economically. Political Perspective: Singapore's government is a blend of democracy and authoritarianism. It is a Parliamentary republic with a legal system modeled after English common law. The president is voted into office by the popular vote for a six year term. Voting in elections is required by law, so every citizen 21 years and older is legally obligated to cast a vote. The cabinet and the prime ministers are appointed by the president. There are 84 parliamentary seats and each person serves a term of five years. The judicial power belongs to the Supreme Court which is split into the Court of Appeals and the High Court.Judges in both of these courts are appointed by the president of Singapore (Government Structure, 2012). Political Parties: There are five main political parties: The Worker's Party of Singapore, the Reform Party, the Singapore Democratic Party, the Singapore Democratic Alliance, and finally the People's Action Party which happens to be the most dominant. This dominance is due to the fact that PAP brought Singapore from an impoverished nation to one with incredibly rapid economic growth. Although this party has brought a certain level of prosperity to the country, they have also instituted extremely strict laws and censorship on almost all aspects of lif e. Current Political Environment:In the past, Singapore was very conservative with spending and investment. However, in 2001 Singapore's government began structuring a stimulus package that included tax rebates for businesses and citizens, lower public service fees, a more expansive welfare program and financial assistance for smaller businesses. The monetary stance was changed to keep their currency competitive while assisting the increase in exporting. Since then, Singapore has relied less on government intervention and more on the liberalization of the economy. This came about due to the lack of improvement government intervention made and the requirements for a World Trade Organization membership (Politics & Government, 2007).Because the PAP holds over 90% of the seats in Parliament they have little trouble getting their policies approved by Parliament which only requires a two-thirds majority. As a result there is not a proper check and balance in Singapore's parliament against the PAP. However, recently their dominance may be lessening according to the outcomes of the 2011 elections that showed a significant decline since 2006. In order for the PAP to stay dominant they must focus on maintaining a strong economy and addressing immigration issues while gaining the trust of the younger generations. Due to Singapore's low birth-rate, immigration has been essential to their economic growth. The percentage of native citizens had gone down to 74% in 2010. This has forced native citizens to compete with immigrants for jobs.In the upcoming years it will be up to the government to legislate integration programs, lower the immigration rate, and smooth over ethnic tensions (Political Overview, 2011). Relationships Abroad: Singapore developed a good relationship with the United States during the Cold War due to the PAP's anti-communist platform and their ability to spread free trade through the Asian-Pacific region. In 2003, the United States and Singapore signed th e first bilateral agreement between the United States and an Asian country. Singapore's government has not only pursued good relationships with the United States they also focus on good working relationships with Australia, Jordan, India, Korea, New-Zealand, and Panama through the signing of Free Trade Agreements.The government is currently negotiating similar agreements with countries such as Bahrain, Canada, Egypt, Mexico, Sri Lanka, Kuwait, Qatar, and the UAE. (Politics & Government, 2007) Challenges to business in Singapore: According to the World Bank’s Ease of Doing Business Report, Singapore has the most conducive regulatory environment for business among 183 economies worldwide (guidemesingapore. com). While this exponentially expanding economy provides many opportunities for business development, there are a few challenges that must be considered by global entrepreneurs. Singapore has grown at a very rapid rate over the past few decades, and its economic success has attracted many industry leaders.This increase in business has created a very competitive marketplace, which presents challenges for new entrants. High competition is a barrier to entry for amateur organizations, and stiff competition often means reduced margins. Many companies who are considering an expansion into Singapore have concerns regarding economic growth and profitability. Many of these concerns stem from rising costs in the labor market and reductions in productivity. According to the Ministry of Trade and Industry, labor productivity fell 2. 2% in the first quarter of 2012, following a downward trend for the past 12 months. Also, manufacturing costs rose 4. 6% and overall labor costs are up 3. 7%.The productivity reductions can be attributed to contagion from struggling European and U. S. markets. Higher costs in goods and services are driving increases in both labor and operating expenses. Access to raw materials is also a concern for manufacturers considering business i n Singapore. Geographic limitations and limited access to resources often force manufacturers to import raw materials. Logistic costs associated with the delivery of raw materials can often become cost prohibitive. This problem grows increasingly prevalent as the cost of fuel continues to rise globally. Another barrier to entry for new business in Singapore is the government’s recent effort to restrict the inflow of foreigners.Singapore’s citizens are growing increasingly discontent with income inequality and rising costs of living. In response, the government has been enacting a series of benefit restrictions for permanent residents and foreign workers. For example, certain workers are not permitted to bring parents or in-laws into the country, and healthcare benefits are being reduced. In July 2012, Singapore’s parliament considered amendments to its immigration law which would make new residency or long-term work permits a criminal offense (Mahtani – W SJ). These social indicators are red flags for new businesses who fear the impact of legislative protectivism. Summation of Macro Environment Analysis:Singapore proves itself to be a promising location for businesses hoping to internationalize. It's diverse and vibrant culture welcomes newcomers as evidenced by its high rate of immigration. Singapore's technology focused economy is growing at a stable rate with little sign of slow-down. This can be partially attributed to its political stability. It has been run by the same political party for decades, allowing Singapore to keep steady international relationships with foreign countries and their business partners. While all of these factors encourage business investment, new entrants must also consider legislative protectivism and the increase costs of labor and manufacturing in their decision.Part 2 – Country Environment Analysis Country Environment Analysis Abstract: With its rich cultural tapestry and beautiful landscape, modern day Singapore has a lot to offer its tourists. The second section of this report details Singapore’s recent efforts to make their country a major travel destination. As the fastest growing sector of its economy, Singapore has recently made huge investments in its tourism industry. Singapore’s government has constructed a mass-rapid-transit-system (MRT) which serves as a means of transportation for sightseeing tourists. Singapore is also focused on building attractions such as amusement parks and botanical gardens.Singapore is a melting pot of different cultures; as a result it offers a cornucopia of cuisines and cultural events. Along with its high population of English speaking locals and low crime rate, it serves as an ideal travel destination for westerners. Scope of the Tourism Industry: Singapore has developed a rich tourism history over the past 300 hundreds of years. At the southern tip of Malaysia, Singapore is a primary destination for eastern trade. Th is bustling trade environment has attracted a culturally diverse population, and it is no surprise that this environmentally beautiful hub for international business has become one of the premiere tourist destinations. Singapore’s tourism industry is massive. The Singapore Tourism Board (STB) notes $22. billion in tourism revenue for 2011. In that same year, Singapore attracted over 13 million tourists, which was a 13% increase from 2010. This is an astounding number for a nation whose population is just above 5 million. 76% of these visitors were Asian; primarily from Indonesia, China and Malaysia. However, Australia, India and the Philippines also represented large percentages (see figure 1). Singapore has been experiencing double-digit percentage growth in tourism receipts for the past 6 years and is expected to grow another 12% in 2012 according to major Asian news organization Asiaone News. Fig 1: Singapore Tourist Levels per Country 2009-2011|Country or territory| 2009T ourists (ea)| 2010Tourists (ea)| 2011Tourists (ea)|   Germany| 183,681| 209,231| 219,952| Taiwan| 156,761| 191,173| 238,488| Vietnam| 265,414| 322,853| 332,231| South Korea| 271,987| 360,673| 414,879| United States| 370,704| 416,990| 440,576| United Kingdom| 469,756| 461,714| 442,611| Hong Kong| 294,420| 387,552| 464,375| Thailand| 317,905| 430,022| 472,708| Japan| 489,987| 528,817| 656,417| Philippines| 432,072| 544,344| 677,723| India| 725,624| 828,903| 868,991| Australia| 830,299| 880,486| 956,039| Malaysia| 764,309| 1,036,918| 1,140,935| China| 936,747| 1,171,337| 1,577,522| Indonesia| 1,745,330| 2,305,149| 2,592,222| *Data Source – Singapore Tourism Board 2012| Singapore attributes much of its growth to improvements in infrastructure and air connectivity. Investments in port access, roadways and air space have streamlined the movement of people and products throughout Singapore. The government has also invested heavily in railway for its MRTS which moves an average of 2. 4 million people per day (Wikipedia, 2012). Furthermore, developments in telecommunications have helped to improve information accessibility, which has improved the ease of travel for both business travelers and tourists. In the year 2000, Singapore’s government decided to liberalize its telecommunications sector.Previously, two companies controlled the entire telecommunications industry. In an effort to encourage global competitiveness, the government compensated the two companies, and opened the floodgates of telecommunication competition. Allowing market forces to drive this sector resulted in a revolution of progressive technology which has solidified Singapore’s current position as a technological hub. So why is Singapore growing increasingly popular as a â€Å"must visit† international destination for tourists? Many economists note the business friendly environment which has attracted top-tier investors from around the world. This environment has produc ed a cosmopolitan culture of engineering, art, food and music.Noting official languages of English, Malay, and Chinese, many international visitors also find it easy to communicate. Singapore’s government realized the unique opportunity for its tourism industry long ago, and developed the Singapore Tourism Board (STB) in 1964 to facilitate and develop its tourist activities. According to the STB, sightseeing and entertainment represented the largest spend for tourists in 2009 (see figure 2). Given its rich history of tourism, Singapore has developed many attractions over the years. Visitors can tour museums of contemporary art, explore Singaporean history, walk its pristine botanical gardens, and experience its science centers and exotic zoos.But some of the most impressive attractions have been developed in the past decade. The Marina Bay Sands Resort is a contemporary architectural masterpiece which opened in 2010, and holds the record as the most expensive casino property in the world at $8 billion (Wikipedia,2012). Fig 2: Singapore’s Gardens by the Bay has 250 acres of reclaimed land which holds state-of-the-art conservatories, horticulture themed gardens, flower markets, and massive â€Å"supertrees† which stand 82 feet high and house countless exotic ferns and plants. These artificial trees were aesthetically constructed with tourists in mind, and illuminate the park at night with spectacular LED displays.Singapore also has its own Universal Studios which opened to the public in 2009. This â€Å"Hollywood themed† amusement park attracts visitors from around the globe, and is popular with western tourists who find comfort in its familiarity. Tourist attractions are big business in Singapore, and the STB works to ensure that there is no shortage of entertainment. Another tourist attraction is Singapore’s annual Grand Prix motor racing, which has generated significant revenue for Singapore’s growing economy. Auto ra cing has been a significant part of Singapore’s history since the 1960’s, and in 2007 the STB signed a contract to bring Formula 1 racing to Singapore.According to Wikipedia, 110,000 tickets were made available for the first race, and the event quickly sold out filling every seat in the newly constructed raceway. This international event has since gained popularity as a premier racing competition. The Grand Prix weekend event generated over $200 million in overall local revenue in 2011. Areas of Opportunity and Risk: Future development: As previously detailed, Singapore is one of the fastest growing economies in the world. The connectivity of the country is vital to increasing competitiveness. Toward this end, one of the future plans for infrastructural development is the expansion of its MRTS, in an effort to connect all geographical areas in the country (GuideMeSingapore. com, 2012).Since, Singapore has slowly become a regional hub for petroleum production and explor ation and a tourist destination, the MRTS is aimed at providing a reliable, fast and cheap transportation of people and goods around the country. As previously discussed, communication facilities, particularly the telecommunications, have fueled growth in most parts of the country. Future plans related to communication include opening up most parts of the country by investing in the telecommunication sector. Satellite systems and submarine cables are projected to reach most parts of the country by 2014 to enhance geographic development. Other future developments plans include the transformation of the city into an exciting and buzz place by illuminating all areas with LED lights. The objective is to attract more tourists to the ity (GuideMeSingapore. com, 2012). The major areas of the city targeted for this transformation include Singapore River, Orchard Road, Marina Bay and the whole of the Central Business District. The projected number of tourists by 2015 is expected to reach 18 million (from 13 million in 2011). Hence, future plans include improving current tourist attractions. Funding/Investment: With its fast growing economy, Singapore is considered an important investment destination as compared to many countries in the world. Singapore has numerous funding opportunities for investors ranging from traditional banks to the grants provided by the government for investment purposes.Institutional support for both private and public funding is encouraged in Singapore. Funding opportunities are provided both to foreign and local investors. With the wide range of funding and financing opportunities, numerous investment opportunities are available in Singapore. As previously mentioned, one of the fastest growing sectors of the economy is the tourism industry. This sector provides numerous investment opportunities; particularly investments in tourist handling facilities such as guest houses, leisure resorts and hotels as well as investment in transportation faci lities. Oil production and exploration is another area of opportunity.With the rising demand for cheap gas and oil products in Singapore, oil exploration is an important investment opportunity for multi-national corporations dealing with onshore oil exploration activities. Other opportunities include investment in the financial sector such as providing financial services and trading in the stock market. Political Stability: While political stability is an area of risk in many countries of the world, it is an area of opportunity in Singapore. Singapore is ranked first as the most politically stable country in the Asian region (GuideMeSingapore. com, 2012). The political structure in Singapore makes the county an area of opportunity since the countries major sectors are not governed through political appointments. Important sectors of the economy are governed by bureaucrats.This means that performance, skills and loyalty to the policies of the nation qualify one to be appointed in any office in the country. Further, the dynamic nature of the country’s population contributes immensely to its political stability. The country has a multi-religious and multi-racial character where providing fair chances for all in terms of health, education and investment opportunities continues to maintain economic balance (GuideMeSingapore. com, 2012). Hence, Singapore’s political system is an area of opportunity rather than an area of risk. This is further investment incentive for U. S. MNE’s. Security of tourists: Singapore has a well-organized security system.The Internal security organ of the government is bestowed with the responsibility of ensuring the security of both local and foreign nationals. Hence, tourists are accorded utmost security by both private and government forces and protected from any instances of hate or racial utterances. Tourist sites and facilities are guarded by national law enforcement authorities to ensure that tourists move freel y without threats to their security (Ramesh, 2010). Singapore was recently noted as the number one â€Å"Ultra-Safe Destination† by Opentravel. com; which boasted its crime rates as the lowest in Asia. Hence, security of tourists is a major area of opportunity in Singapore. Financial Stability:The country’s projected revenue is expected to hit more than $40 billion according to the 2011 estimates. Expenditures are estimated at $35 billion leaving a trade surplus of more than 5 billion. In this regard, Singapore boasts of trade surplus rather than trade deficit. This means that the country is economically stable and it has stable resources for purchase of capital goods for the development of the country. The economic growth rate is an important indicator of the country’s economy. The projected economic growth rate is expected to hit more than 7. 5% by the end of 2012. With sound financial stability, international investors can have confidence in their expected re turn on investment.The tourism industry has seen similar growth in recent years (see Fig 3). Fig 3: Challenges for US Business in Singapore’s Tourism Industry: The STB is the countries’ leading economic development agency for tourism, and most opportunities for U. S. partnership in the tourism industry would be facilitated through this organization. The United States is a primary marketing point for the STB; which maintains office-space in both New York and Los Angeles. The government of Singapore prefers to use local firms to combine tourism with the ethnic lifestyles of Singapore. One concern for US firms who are considering opportunities in Singapore is the growing pressure of protectivism in its local culture.This is also a challenge for the STB who is aggressively recruiting visitors. The STB does work to promote local heritage, but it also strives to develop global tourism demand which often requires deviation from traditional culture. For example, Singapore†™s theater district regularly presents western musicals and dramas to satisfy western audiences. This is an area of opportunity for U. S. based organizations who wish to get in on Singapore’s booming tourism industry, but a legislative recent push to protect local heritage is prioritizing eastern values and culture. Singapore also relies on international investors and engineers to develop new world-class attractions.For example the Singapore Flyer, a 42 story high Ferris wheel located on Singapore’s southeastern tip, was designed by German engineers. Also, the design for its world famous Garden by the Bay Park was decided by an international competition which attracted more than 170 firms from 24 countries. The final design was awarded to two firms: Grant Associates from New York, and Gustafson Porter from London (Wikipedia, 2012). Another barrier to US business is the overwhelming Asian influence in Singapore. As previously stated, the majority of foreign tourists c ome from Asia (Japan 36%, Philippines 34% and China 31% – 2011). This is partially due to Asian airlines that have drastically reduced their airfares in an effort to encourage Singapore tourism.Collaborations of these Asian countries not only ensure that there is stability in Singapore’s tourism industry, but they also make it difficult for other countries to penetrate the market. Singapore is known for its â€Å"pro-business† culture, and in most cases it encourages international investment. Tourism, however, is a unique industry and the government is not as interested in incentivizing foreign tourism investment as it used to be. Some of the biggest challenge for U. S. firms and investors in Singapore’s tourism industry include: limited opportunity, competition, and government control. International firms are fighting to penetrate Singapore’s $20 billion tourism industry. The opportunity for substantial profit is attracting top-tier entertainment, culinary, construction, and engineering companies. However, Singapore is eographically small and well developed at this point. The STB is selecting from a pool of innovative firms when developing new projects and their preference to promote local firms is increasingly evident. This business environment is incredibly competitive, and the STB tends to award local firms when given the choice. One strategy for U. S. companies is to provide innovative proposals which cannot be easily replicated. U. S. based firms can also develop collaborative relationships or joint ventures with Singaporean organizations to gain a competitive edge. Country Environment Analysis Summation: The tourism industry in Singapore appears to have a lot of promise.Its diversity offers tourists a rich cultural experience while still allowing ease of the communication and transit. It also boosts a low crime rate, an increasing number of attractions, and stable political and economic environment. Those wanting to in vest in Singapore’s tourism industry through the construction of resorts and hotels will be welcomed by Singapore’s traditionally pro-business policies but potentially discouraged by its recent push towards protectivism. One thing is certain, the tourism industry in Singapore is booming, and the potential for growth is attracting the most innovative firms in the game. Works Cited: AsiaOne. com. 2012. http://www. asiaone. om/News/AsiaOne+News/Singapore/Singapore. html Chong, T. (2010). Management of Success: Singapore Revisited. Singapore: Institute of Southeast Asian. GuideMeSingapore. com. 2012. Why choose Singapore? Available from http://www. guidemesingapore. com/incorporation/introduction/singapore-incorporation-advantages Retrieved on 10th November 2012. GuideMeSingapore. com. 2012. Introduction to Singapore’s political system. http://www. guidemesingapore. com/relocation/introduction/singapores-political-system. Retrieved on 10th November 2012. Janus Resea rch Reports -Doing Business in Singapore vs USA – http://www. guidemesingapore. com/research-reports/usa/doing-business-singapore-usaRamesh, S. (2010). â€Å"Government goal is to ensure all citizens enjoy fruits of growth: PM Lee† Channel News Asia (Singapore) Mahtani, S & Raghuvanshi, G. , (2012) Singapore Restricts Foreigners web: http://online. wsj. com/article/SB10001424052702303567704577518591429808110. html MTI (Ministry of Trade and Industry) Singapore (2012) web http://www. mti. gov. sg/Pages/home. aspx MediaCorp Pte Ltd (2011). Singapore's population reaches 5. 1 million. Retrieved from http://www. channelnewsasia. com/stories/singaporelocalnews/view/1155998/1/. html Ministry of Trade and Industry – Economic Survey of Singapore First Quarter 2012 http://www. mti. gov. g/ResearchRoom/SiteAssets/Pages/Economic-Survey-of-Singapore-First-Quarter-2012/Ch1_1Q12. pdf OpenTravel. com. 2010. http://opentravel. com/blogs/top-ten-ultra-safe-destinations-to-travel / Shibani Mahtani and Gaurav Raghuvanshi – WSJ – 06/101/2012 – Singapore Restricts Foreigners – http://online. wsj. com/article/SB1000142405270230356770457751 8591429808110. html Wikipedia. com (2012). http://en. wikipedia. org/wiki/Mass_Rapid_Transit_(Singapore) http://en. wikipedia. org/wiki/Singapore_Tourism_Board http://en. wikipedia. org/wiki/Gardens_by_the_Bay http://en. wikipedia. org/wiki/Tourism_in_singapore